Corporate Social Responsibility: POST COVID19 ECONOMY WILL DEMAND DECISION, TRAININ...

Corporate Social Responsibility: POST COVID19 ECONOMY WILL DEMAND DECISION, TRAININ...: POST COVID19 ECONOMY WILL DEMAND DECISION, TRAINING, SOLUTIONS FOR RECOVERY Some of the rudimentary issues induced by Covid pande...

POST COVID19 ECONOMY WILL DEMAND DECISION, TRAINING, SOLUTIONS FOR RECOVERY

POST COVID19 ECONOMY WILL DEMAND DECISION, TRAINING, SOLUTIONS FOR RECOVERY

Some of the rudimentary issues induced by Covid pandemic have to be acknowledged in order to appreciate the enormity of economic devastation and havoc that have taken place across the globe.

Perhaps the best starting point is the experience in Wuhan, China where the first case was reported in December 2019.  The panic alone caused a lot of loss of man-hour; then followed by actual attack of thousands if not millions, of workers and families resulting in hospitalization and death of some percentage of victims. There is no doubt that Chinese budget for 2019/2020 was over-stretched.  The projects and all other economic activities expected to take place in that period via budget allocation were obviously short-changed by the sudden outbreak of Covid.

Beyond the financial cost of the global war against the scourge, some of the victims were skilled and expert corporate and private individuals.  Their demise and or incapacitation meant huge losses for the economy.  Training and replacement of them would certainly take a toll on the budget, but first, there must be a firm decision that it is the way forward.

Partial, complete lock-down and curfew were some of the measures applied in tackling the menace.  During these periods no tourism, no economic activities took place, except those essential preserving services.  That meant loss of productive hours for as long as it lasted.  It also meant abandonment of projects, breach of contracts, rusting of facilities and equipment etc.  Needless to analyse these consequences to the logical point of litigation, whether rational or irrational.

Every country as much as Nigeria borrowed a leaf from Chinese experience.  Of course we are aware that the health care sector immediately became the battle field; both the staff and facilities were over-stretched to breaking point.  The personnel became the next wave of attack and spread of the deadly disease.  We may not know the actual cost inflicted on the global economy by covid.

However, what we do know is that the entire global economy was forced to stagnate and consequently driven several steps backwards.  If we extrapolate to every nation these basic economic issues raised by the first case of covid the task of rebuilding the global economy would depend on massive training.

The pandemic was a sudden outbreak and it would be foolhardy to say that global infrastructure and security  architecture were absolutely dependable when the disease broke out. Therefore a new security architecture would become imperative.  The Paris/Copenhagen protocol on climate change and their mitigation provisions remain as helpless as ever.  How can these provisions be enforced? Were they not meant to solve global problems staring us in the face?  Where lies the burden of corporate social responsibility?

It is therefore apparent that post-covid world would expect at national levels the enactment of new legislation.  For instance do you need the declaration of state of emergency under s. 305 of the 1999 Constitution for a complete or partial lock-down by the President or Governor?  If that is the case, what then is the use of executive orders? 

Does the doctrine of force-majeure alone compel governments  and corporate organizations to break the law or implement policies against fundamental human right without any law authorizing that#?

Again the issue of social distancing has produced industrial innovation called ‘working from home’. This innovation seems to have been adopted to be the future of work place.  Presently social distancing has proved difficult to enforce in crowded cities and where you have grass-root  people in markets and social gatherings as well as religious meetings.  It’s been reported quite widely that some religious groups find it difficult to maintain social distance during observance, believing that God would not allow the infection.  What a pity.  Why then is the world searching for vaccines?

With the World Health Organisation (WHO) saying covid has come to stay, the inevitable conclusion are that there must be at least one vaccine/medicine that cures covid.  The world will remain indoors and online, living skeletal jobs outside the home.  More and more people would hate work with a lot of people hating staying at home. But most importantly they would hate covid the root of the problems.  Then the desire for entrepreneurship would expand and grow after the battle against covid is over.

Iyke Ozemena Esq

Corporate Attorney/Consultant   #corporateleaders

IKECHUKWU O. ODOEMELAM & CO,      Legal Practitioners

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Corporate Social Responsibility: CORPORATE SOCIAL RESPONSIBILITY IN TIMES OF CRISI...

Corporate Social Responsibility:
CORPORATE SOCIAL RESPONSIBILITY IN TIMES OF CRISI...: CORPORATE SOCIAL RESPONSIBILITY IN TIMES OF CRISIS PROMOTES GOOD GOVERNANCE What Covid19 globally reminds us, is about the duty of ‘o...

CORPORATE SOCIAL RESPONSIBILITY IN TIMES OF CRISIS PROMOTES GOOD GOVERNANCE

What Covid19 globally reminds us, is about the duty of ‘ordinary humanity’.  Within the space of 3 months a disease sent the entire world to mandatory recess.  In the mid ‘80s it was famine in Africa that reminded the world of one tiny thread that binds humanity, such that crisis in one part raises much concern across the globe.

 Such concern drove British musicians to write ‘Do they know it’s Christmas’, a song that brought to the front burner the plight of under privileged in the society with powerful and prosperous individuals and corporate citizens. It was used to raise fund as corporate social responsibility. The  idea was copied by Lionel Richie and Michael Jackson when they jointly produced a powerful song  USA for Africa: ‘We are the World’ which raised over $63 m in aid of African famine victims.

While the list of donors to the Presidential Task Force on Corona virus continues to rise, we can observe similar trend across the states. It is a battle where no part of the globe is isolated or safe. Like Dr Kwame Nkrumah said during colonial era after Ghana got independence, ‘The independence of Ghana shall be meaningless unless you link it up with the total liberation of Africa’, it’s unlikely that one part of the earth without Covid19 makes sense without ridding the nooks and cranny of the world of the menace.

Abia state is probably leading in the battled against Covid19, taking prevention as the strongest weapon. As at the time of this posting no record of any case of the disease.  Few reported cases showed negative.  Perhaps it is this spirit that led the high and the low making desperate efforts to remain neutral and free.

This spirit has been embraced by Abia state University Department of Epidemiology which developed a tracker that gives early warning about the presence of Covid19 in the state, which was not existent anywhere until this discovery.

Humanitarian individuals have been making money and resource donations to fight the scourge.  The government, apparently aware of the possibility of abuse while distributing aids to the needy through its administrative/political channels chose to use religious leaders and institutions even though it has its weaknesses.

The resolve and demonstration of Abia state government since the crisis is one that other states should adopt or even surpass in order to promote good corporate governance.  It is during crisis that leaders emerge, leadership prowess tested and best practices sustained.

 Iyke Ozemena Esq

Corporate Attorney/Consultant IKECHUKWU O. ODOEMELAM & CO

#corporateleaders

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Corporate Social Responsibility: THE GLOBAL BATTLE AGAINST COVID19: NIGERIAN SECTO...

Corporate Social Responsibility:
THE GLOBAL BATTLE AGAINST COVID19: NIGERIAN SECTO...: THE GLOBAL BATTLE AGAINST COVID19: NIGERIAN SECTOR At the time of this blog posting the Covid19 global updates stood as follows: case...

THE GLOBAL BATTLE AGAINST COVID19: NIGERIAN SECTOR

At the time of this blog posting the Covid19 global updates stood as follows: cases: cases 1.2 million, deaths 65,832.  This figure includes a young doctor in the front line of this battle to stop the deadly corona virus.

Philippine Heart Association on 3rd April, 2020 declared the claim of a young doctor’s life by Covid19 "while fulfilling his duties as a doctor." The agency further stated: "It is a sad day for the whole association as we have lost one of our own in the fight against COVID. He is a casualty of this war".

In Nigeria the battle is as fierce as you can imagine with the virus toll hitting 210 cases with 2 deaths. As those in front line, medical staff and support workers toil day and night to stop the bull, more humanitarian individuals and institutions have risen to the occasion with financial  and resource contributions.

United Nations donated medical equipment worth £U80,000.

World Health Organisation (WHO) has committed to the battle against Covid19 by the deployment of staff and donation of laboratory supplies in the pursuit of the institutions corporate social responsibility. So says its country representative, Dr Clement Lugala Peter.

Germany donated £U5.5 for the battle against the scourge.

Others include:

United Bank for Africa (UBA), Africa's  Global Bank has donated N5 bn.

African Research Company, 54 Gene launched Testing Support Fund with $150,000.

Jack Ma, Chinese billionaire fought the virus with a donation of 20,000 testing kits, 10,000 protective suits.

Dangote Foundation owned by  a philantropist/industrialist and global business guru Alhaji Aliko Dangote donated N200 m for the fight against the virus.

BUA group of companies donated N1.3 bn as contribution towards fight against corona virus.

Dr Mike Adenuga of Globacom gave N1.5 bn to stop the disease.

Bola Tinubu sponsored the battle with N200 m.

Femi Otedola, industrialist pledged N1 bn in a show of global solidarity against the virus.

Folorunsho Alakija, oil magnate made a donation of N1 bn to smash the scourge.

Deji Adeleke, business tycoon father of music legend Davido donated N500 m towards waging battle against Covid19.

Niger Delta Development  Commission, (NDDC) had announced donation of N1 bn to the 9 states benefiting from the commission.

Nigerian National Petroleum Corporation (NNPC) has announced the donation  of 2 isolation centers and 5 ambulances to  eradicate the deadly disease.

Lagos state being a critical sector  has perfected plans with group of insurance companies to cover the lives of medical and front-line staff.

Our legislators, 109 senators as well as 43 ministers have indicated their preparedness to forgo half of their March salaries in their efforts towards the combat.

Covid19.ncdc.gov.ng  free toll  080097000010

The gestures of these individuals and corporate institutions acknowledges the importance of corporate social responsibility, even in the austere time like this. We identify with these efforts and shall endeavor to keep updates as much as we can.

Meanwhile a word for donors.  Crowd/public  funding has a common challenge everywhere in the world: abuse. Therefore donors are advised to  ensure that funds are focused on PURPOSE for which they are donated.

Iyke Ozemena Esq

Corporate Attorney/Consultant IKECHUKWU O. ODOEMELAM & CO

#corporateleaders You can find more resources from Iyke Ozemena's books at: www.corporateleadersboard.blog.com www.facebook.com/corporateboard amazon.com/iyke ozemena books http://www.amazon.com/dp/B0075RXXLE COMPANY SECRETARIES HANDBOOK http://www.amazon.com/dp/B005783S6S DIRECTORShttp://www.amazon.com/dp/B005MKCESY MEETINGS: Dynamics and Legality

Corporate Social Responsibility: CLEANING UP THE AUGEAN STABLE: GLOBAL COMMUNITY ...

Corporate Social Responsibility: CLEANING UP THE AUGEAN STABLE: GLOBAL COMMUNITY ...: CLEANING UP THE AUGEAN STABLE:    GLOBAL COMMUNITY V. CHINA While 2019 ended on a sad note of the outbreak of Corona virus aka CODIV1...