Business Magazine

Leadership by Example for a Region in Change

Posted on the 17 June 2011 by Center For International Private Enterprise @CIPEglobal


Also available with subtitles in Arabic.

Given the tumultuous change and economic stagnation throughout the Middle East and North Africa, one might be tempted to ask, is corporate governance even relevant in the current environment? The answer is yes, and here’s why.

Corporate governance is intrinsically linked to the concerns being expressed by people throughout the MENA region because good corporate governance and good democratic governance both are based on the values of accountability, transparency, responsibility, and fairness. There is now a new opportunity to talk about these issues – and how to establish institutions that uphold these values – that was never possible before.

CIPE and the Global Corporate Governance Forum officially launched their new guidebook and video resource for corporate governance, Advancing Corporate Governance in the Middle East and North Africa: Stories and Solutions, at the Corporate Governance and Responsibility Forum in Amman, Jordan on June 12-14, 2011.

The conference gathered more than 100 practitioners and businesspeople from around the world and raised issues related to corporate governance, corporate social responsibility, and sustainability.

The driving force for the region’s popular uprisings is economic concerns, including unemployment and a low standard of living. Addressing these issues will require a dynamic private sector that will generate new job growth. To achieve the aspirations of the youth, it is essential to help develop stronger, more sustainable business, which depends on creating an environment where the private sector can flourish.

Implementing corporate governance is one important step in this direction – it will help companies attract investment, instill shareholder confidence, and improve productivity, and will also help rehabilitate the reputation of the business community in an environment where the private sector’s reputation is under attack. Corrupt crony capitalists associated with the ruling regimes in Tunisia, Egypt and elsewhere have given the private sector and free markets a bad name.

Standing against corruption and demonstrating a commitment to corporate governance, transparency, and disclosure of conflicts of interest is an important way for businesses to generate trust and regain credibility that may have been lost.

Lofty democratic ideals will not motivate all business owners, but there are concrete benefits that corporate governance helps realize. CIPE and GCGF talked with companies around the region in order to gather success stories of how and why they made governance changes and what positive impact it had. The resulting guidebook presents real-world, practical examples that show how companies in the region overcame barriers and improved their governance practices in ways that benefited performance and growth.

The guide is intended to serve a real-world purpose: To provide assistance and motivation to directors, senior managers, regulators, and others as they try to improve existing corporate governance practices.

As governments increasingly look to the private sector to stimulate economic growth, the business community has a unique part to play in promoting values of accountability, fairness, and responsibility. This new role will help to advance democratic institutions and strengthen business ethics to the benefit of the public sector, the private sector, and society at large.


You Might Also Like :

Back to Featured Articles on Logo Paperblog

These articles might interest you :

  • Artisanal Skincare Holy Basil Cleansing and Toning Water Review

    Artisanal Skincare Holy Basil Cleansing Toning Water Review

    As we all know how important the toning step is in our regular CTM routine. Lately I have been loving floral waters or hydrosols as toners and so far I have... Read more

    11 hours, 2 minutes ago by   Skincarevilla
    HAIR & BEAUTY
  • Soon By You Episode 4: The Dates | Soon By You (video)

    Soon Episode Dates (video)

    David and Sarah finally go on their first date. Jacobs explores foreign avenues for a love connection and Noa, Ben, and Z take up volunteering. Read more

    12 hours, 19 minutes ago by   Gldmeier
    RELIGION, SOCIETY, SPIRITUALITY
  • Locaflea Summer Jam 2017 Starts Today in Ahmedabad

    Locaflea Summer 2017 Starts Today Ahmedabad

    Shopping is the best remedy, someone said it and it’s true, especially when your city is boiling and the temperature stays beyond 38 throughout the day or even... Read more

    12 hours, 28 minutes ago by   Hetal Shah
    FASHION
  • Summer Makeup Tips for Long Lasting Makeup

    Summer Makeup Tips Long Lasting

    Hey everyone today’s post is very informative and very useful for the hot scorching summer time. I am going to talk about my most used summer makeup tips for... Read more

    12 hours, 42 minutes ago by   Sugandha Choudhary
    HAIR & BEAUTY, LIFESTYLE
  • A Very Nice Day

    Very Nice

    Thursday dawned bright and clear and rather cool -- a perfect day to be outside! Shelia, my friend since 7th grade, was in town and offered to come over and pul... Read more

    14 hours, 51 minutes ago by   Vickilane
    CREATIVITY, PHOTOGRAPHY
  • 33, And Counting…

    Counting…

    I have 33 job applications out there. …Have taken 5 Interviews so far, and every day at work is like trying to survive a crawfish boil…as a fucking crawfish. Read more

    15 hours, 26 minutes ago by   Shewritesalittle
    CREATIVITY, SELF EXPRESSION
  • Hypermasculinity – Sometimes It’s Not All About The Girls

    Hypermasculinity Sometimes It’s About Girls

    16th December 2012. A 23-year old student was not just gang-raped but tormented and beaten in the most barbaric way possible on a moving bus. Read more

    16 hours, 43 minutes ago by   Scribe Project
    SELF EXPRESSION