Business
Chamber Advocates Mentorship Programmes For Company Executive
The President, Nnewi
Chamber of Commerce, Mr. Humphery Ngonadi, has urged Chief Executive Officers to fashion out mentorship programmes for their successors in order for their companies to survive after them.
Ngonadi said this in Nnewi, Anambra State on Saturday while fielding questions from newsmen on why most companies and industries, particularly in the South-East Zone of the country fold after the death of their founders.
He noted that there was need to encourage chairmen and Chief Executive Officers of Companies on the need for a strategic succession plan, built on sound mentorship of the younger generations.
“Lack of succession plan had led to the collapse / failure of most businesses after the death of the original owners.
“I believe we can picture some of those companies that are no longer in existence because of the death of the original owners, while in most developed nations like Europe, U.S. Asia, the reverse is the case.
“As the Chief Executive is approaching a certain age, he /she starts preparing somebody to take over from him by way of ensuring that their interest is focused on the business through coaching and mentoring,” he said.
Ngonadi also noted that youths can perform better if they are properly groomed about the technicalities of any given venture or company.
He advised entrepreneurs in the country to support the federal government’s Transformation Agenda and add value to their products, as well as produce goods to meet the local and international standards.