Business Risk Management

This book attempts to explain ascendancy gaps that impact corporate organizations, and the direct consequence is holdups on economic growth. Post-colonial emerging economies were greatly influenced by the colonial masters who still had a firm grip on the economy, shaped domestic and foreign policies. The corporate sector was shaped and designed to produce what would be most suitable to feed the home-based industries. These sectors were further inherited by what could now be known as powerful allies who have shaped a kind of invisible cartels to manage our companies. The expression
a free slave most likely would behave like the master and even worse is evident today as the efficiency in business management has been dragged to the mud by venality and racketeering in the corporate world, especially in emerging economies. In Africa like in most parts of emerging continents, the vast amount of corruption in corporate organizations (government companies), the awarding of government contracts and the custom sector leading to the enormous cost of doing business and tax evasion, corrupt insurance sector leading in insecurities in investments, a corrupt judiciary, the police, and the army, and the theft of funds for state arms and machinery, daily police bribery and unreliable justice system and the vulnerability of the poor is a significant impediment to the promotion of business environment. The way forward seeks to propose the promotion of pan Africanism as a tool to eliminate religious and tribal conflicts, re-orientation to pre-colonial ethical norms, and value to promote political goodwill and dedication to the country, strengthening anti-corruption watchdogs to facilitate the prosecution of embezzlers and the corrupt.