SCGN Board Focus 2023
The year 2022 held notable lessons for Boards as the growth and sustainability of various businesses were brought to the forefront of discussion in the business world. Boards of various companies took steps to boost the productivity of their firms and increase returns for investors. The inflationary and energy challenges which companies faced in 2022 threatened business operations. Foresight is however very essential for the survival of businesses. Where the Board can foresee trends in an upcoming year, plans can be made to embrace the potential of such trends and address the challenges.
The Society for Corporate Governance Nigeria (SCGN) is dedicated to ensuring the effective running of corporate organisations by assisting Boards to plan and implement the plans to promote good corporate governance culture. In line with the commitments of the SCGN, the Society has highlighted ten (10) areas where Boards of Directors should focus in the coming year. These key areas have emerged from current and evolving trends which have shaped and still shape businesses. This document examines the potential impact of the identified areas on businesses in 2023 and what Boards should do to maximise the benefits which are associated with these trends.
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