‘Adapt and redefine’
THE current generation of directors, has to adapt to an evolving business environment that is characterised by radical changes in political, social, technological and economic factors, the chairperson of the Institute of directors of Zimbabwe (Iodz) Mike Juru has said.
Addressing delegates at the recently held Director of the Year (DOYA) award ceremony, Juru said the current COVID-19 pandemic, which has practically become a part of life, is shaping a new business environment, anchored on technology advancement.
“Clearly, directors have the onerous task of reviewing how their businesses operate because, unlike before, crowds are now a big risk, and, as such, businesses now have to redefine how they can make money without the crowds. That’s the ‘new normal’ the current crop of directors must contend with,” he said.
Juru noted that amidst the current changes, businesses have to operate mindful of the importance of continuity, underpinned by sustainable business strategies meant to support and drive companies as going concerns for the long-term.
“That is why this prestigious event is running under the theme: “We support the sustainable development goals”.
The seventeen sustainable development goals (SDGs) are geared towards the protection of the ecosystem as a whole as well as ensuring that future generations benefit from the environment in the same way as the current generation.
“It therefore becomes crucial to take a holistic approach in working towards the achievement of the SDGs through comprehensive governance systems,” said Juru.
IoDZ said it recognises the importance of the current generation in shaping the future through leadership that is responsive to the evolving environment.
“As we can see from the current scenario, the old adage holds true: ‘Leaders make or break organisations.’
“For this reason, we are prioritising strengthening the capacity of current and aspiring directors. We are aware of the challenges gripping our country which demand that we equip our old and new generation of directors with a mindset that upholds the principles of good corporate governance,” he said.
Juru told delegates that they were witnessing far-reaching changes as a result of globalisation, the advent of information technology as well as the development of a knowledgebased economy.
“IoDZ is aware of these changes and places value in championing change through corporate governance training, research and development. We have also adopted a solutionsbased approach to solve corporate governance challenges being faced by directors in various organisations and institutions,” he explained.
To reflect on this, IoDZ has various director development programmes that set out the knowledge, skills and mindset required for effective board and leadership performance. The programmes are unique in that they are guided by The IoD Director Competency Framework, which is designed to promote and champion the highest standards of professional competence.
The framework serves as a guiding measure for the critical components of a 360 degree assessment of directors across sectors.
“Mindful of the aforesaid, those who will receive accolades should take pride in their achievements as they have exuded the key leadership elements prescribed by the framework.”
As an institute, IoDZ takes the initiative of championing development of sustainable institutions in Zimbabwe through the implementation of corporate governance principles.
Meanwhile DOYA have been one of IoDZ’s flagship events since 1996 .
“Since IoDZ is all about instilling a sound directorship culture in corporates, and stateowned enterprises, it is important for us to recognise those who stood out in our boardrooms: The epitomes of corporate governance excellence,” explained Juru.
This year nominations came from five award categories and the judging process was thorough and undertaken by recognised and respected industry leaders.