NEWSLETTER // MARCH

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March 2015 Newsletters

Multiple Directorships: To Be or Not to Be?

Multiple directorships are a fact of commercial life. But the concept has its proponents and detractors who largely see it as affecting the bottom line of the companies that an individual directs. Just what are the pros and cons of holding multiple directorships in South Africa? According to a 2012 research by Inoxico says each director of the 20 largest companies in South Africa sits on 14 other boards. This increases the risk for fraud and non-compliance with governance requirements in the Companies Act. It also raises also raises the quality and independence of board decisions. Multiple directorships, obviously, can have economic benefits. It can be a powerful tool for unlocking doors for a company and moving its strategy forward. While, it may not make business sense to suggest that one should turn down an opportunity to become a director in several companies, perhaps, should the opportunity arise, then maybe you should consider quitting your ‘day job’ because the commitment and responsibility is simply too great!

 

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Ethics: A Necessity for Business Leaders

More and more leaders of businesses and other organisations are now waking up to the reality of social responsibility and organisational ethics. Public opinion, unleashed by the Internet particularly, is re-shaping expectations and standards. Organisational behaviour - good and bad - is more transparent than ever - globally. Unethical behaviour is generally bad for business. The scandals that are a result of unethical behaviour often result not only in landing an organisation in big trouble such as lawsuits but reputations are lost. The main reason for a company’s existence; to make money, is affected and an unethical leader alienates key stakeholders. Employers, businesses and organisations of all sorts - especially the big, high profile ones – are now recognising that there are solid effects and outcomes driving organisational change. There are now real incentives for doing the right thing, and real disincentives for doing the wrong things.

 

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SMEs: Creating Jobs in Tough Times

Small businesses do not provide jobs as a service to any economy. Companies hire more employees to make the business more profitable. Therefore, there is a need to stimulate the private sector if we want job growth. Businesses do not always sustain themselves. Government should assist by creating a business environment that encourages businesses to generate more profits in order to encourage business expansion. In that manner, companies can afford to hire more people. Regardless of size, small businesses face numerous challenges in their quest for job creation. They often face a lack of capital, an unwillingness from senior leaders to take large risks and commit to new investments, a harder time targeting the right individuals due to a lack of recruiting resources, new and underdeveloped relationships that larger businesses have had for years and, in some cases, difficulty in managing the company’s finances. Whatever happens, SMEs must not get complacent. Instead, they must hire the right people, with the right personality traits and skills to take the company forward and create more jobs.

 

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