• Friday, July 19, 2024
businessday logo

BusinessDay

Management institute tasked on strategies to mitigate impact of Covid-19 on organizations

Management institute tasked on strategies to mitigate impact of Covid-19 on organizations

Adetunji Oyebanji, managing director/CEO of 11 Plc, has challenged the Nigerian Institute of Management (NIM) to adopt management tools to deeply understand the Covid-19 pandemic and develop strategies to mitigate its impact on organizations and employees.

Oyebanji who spoke at the investiture of the 23th president and chairman of council of the NIM, recently in Lagos said while the Nigeria Centre for Disease Control (NCDC) is spearheading the medical battle against the virus and the Central Bank of Nigeria (CBN) is adopting both financial and monetary bullets to tackle the pandemic, NIM could develop management practices to mitigate its impact on businesses.

Oyebanji, in his paper entitled ‘COVID-19 Pandemic: The Change Management Imperative’, said Nigerians must initiate ideas and strategies that will take the country through and beyond the pandemic. He stated that just as Nigerians are taking the vaccine, they should also implement post Covid-19 job growth and work improvement measures.

“As we socially distance ourselves to prevent the spread of the virus, let us also verbally distance ourselves from doubters of the infection and vaccination skeptics. Covid-19 and its after effects are going to be with us for a long time, we need to come out with well thought out policies to address them. Fallouts that negatively impact on people, careers, compensation and safety should not be toyed with,” he stated.

“According to the NCDC, UNDP and NBS, all the three waves of the infection have killed nearly 3000 Nigerians, erased the full-time jobs of at least 20percent of our employees, reduced productivity by 80 percent, significantly affected operating costs and affected the physical and mental health of millions,” he said.

Read also: Business leaders urge CBN to implement policies to mitigate COVID-19 impact

Abdullahi I. Muraina, president and chairman of council, Nigerian Institute of Management (NIM), in his inaugural speech as the 23rd president and chairman of council, said the Institute must not rest on its laurels; hence the need to innovate must be constant.

“As an organization which just celebrated its 60th anniversary and as a business in the market to deliver learning and development in leadership and management for a constantly evolving and challenging marketplace; it is imperative that our services are seen by our market as relevant,” said Muraina.

Accordingly, he posits that global forces taking place today will significantly impact the business landscape for the public and private sector through 2022 and beyond. Hence the need to appraise the impacts of COVID-19 in consonance with NIM mission, in order to remain a veritable change agent in strategic transformation, delivering enduring stakeholder value in perpetuity.

The retired major general urged members to focus on the vision and mission of the Institute in the quest for positioning as the prime driver of management standards and values.

Patience Ehizogie Anabor, the immediate past president and chairman of council, NIM, in her valedictory speech said, the pandemic threatened the operations of the Institute but said “As a result of various income generating strategies explored since the advent of COVID-19 pandemic, the Institute’s finances has been on a steady increase while expenses have been kept at a minimal level”