The widening gap between the haves and the have-nots in Nigeria is a recipe for anarchy, Sandra Sucher, a professor at the Harvard Business School, Boston, USA, has said.
Sucher, who made the observation in Lagos on Monday at the 8th Akintola Williams lecture series on Ethics in Business and Public Service organised by the Harvard Business School Association of Nigeria (HBSAN), said her greatest fear for Africa, particularly Nigeria, was the widening gulf between the rich and the poor.
“I think my greatest fear for Africa is the widening gap between those who have money and those who do not have. I am particularly worried about the young people who do not have money and do not have opportunity. If the problem is not solved, it is a recipe for chaos and anarchy in society. Closing the gap between those who have and those who do not have, will be in the interest of the continent,” she said.
Speaking exclusively with BusinessDay, Sucher, who teaches Leadership and Corporate Accountability and the Moral Leader at Harvard Business School, said to move the African continent from where it is now to where it is supposed to be, the governance structure has to be addressed, adding that “Africa is now the most exciting continent on the planet because of the numerous opportunities and people have to open up the frontiers. And I am very optimistic about the future of the continent because many people have begun to do something differently to reposition the continent, and that, to me is the way to go.”
On her reflection on the leadership series, the guest speaker said ethical perspectives must be employed to deliver on responsibilities to stakeholders in the firm. According to her, such stakeholders include the investors, Customs, employees and society.
Earlier in his lecture, Fola Adeola, co-founder and former managing director of Guaranty Trust Bank (GTBank), drawing from his personal experiences, recounted how he had been able to weather the storms in business by sticking to ethics. He told the audience that by insisting on doing things the proper way, he had been able to grow his businesses to become strong institutions.
Adeola threw some posers: “What are your beliefs; what do you stand for; are you going to be consistent even in hard times, in the face of challenges; are you going to make ethics your bedrock? Consistency is key,” he said.
In his vote of thanks, Ladi Balogun, managing director, First City Monument Bank (FCMB), and vice president, HBSAN, emphasised the need for ethical practices in business, saying it was in recognition of its importance in everyday life that the group decided to reflect on the critical topic.
