The Chairman, First Bank Nigeria Limited, Ibukun Awosika, has identified repeated re-examining of vision, and ensuring the business serves is purpose well with sound ethical business practice as key to achieve sustainable business growth in Nigeria.
Awosika, who spoke at the 25th Anniversary of Red Star Express Plc, held in Lagos at the weekend, said business sustainability is an approach that creates long-term stakeholder value. This is by implementing a business strategy that considers every dimension of how a business operates in the ethical, social, environmental, cultural, and economic spheres.
According to her, in order to succeed in business, companies must strictly adherence to vision and core values.
Furthermore, she pointed out that proper employee development and open-minded approach are also among areas of focus in order to build a company that fosters longevity and long term growth.
To continue growing, Awosika maintained that entrepreneurs, managers, and business owners must become the leader for each particular stage of growth.
She added that since businesses need change at each stage, leaders need to keep evolving at the right pace. This requires self examination, self-awareness, and a deep sense of innovative strategy, both in the short and long term to help stay ahead of trends.
“The issue of building business that will stand the test of time is critical, and the fundamental factors to sustain it must be thought of. You must have a vision of what you want to build, and where you want to go because if the business is all about now, it would not last.