LCCI asks its members to reassess operations, business models | The Guardian Nigeria News
The Lagos Chamber of Commerce and Industry (LCCI) has tasked its members with the need to reassess their operations and business models to operate effectively in a post-pandemic economy.
Noting that the Chamber had already realigned its strategy to expand its range of services and policy advocacy, the LCCI urged business owners to also adjust their models for efficiency and profitability.
Likewise, members were advised to adhere to high professional and ethical standards to achieve profitability and sustainability of their business operations.
According to LCCI President Ms. Toki Mabogunje, companies have obligations that transcend profit, noting that adequate attention to the integrity of transactions and business practices is essential to ensure business continuity and profitability.
Mabogunje at the chamber induction ceremony, added that the chamber believes so strongly in ethical behavior and fairness in the conduct of business relationships with members, non-members and society. in general, while also expressing the need for the federal government to protect the business environment.
âThe challenges created by COVID-19 portend new opportunities that we must never let go to waste. As economic activities gain momentum across the world, it is imperative that businesses seek out and seize the opportunities that arise in the global recovery.
âThis involves diagnosing the actions taken, data, trends and insights into lessons learned from the pandemic, and then using the results to prioritize strategic actions to improve business operations and build strategic resilience to the future, âshe added.
She said the goal of the Chamber is encapsulated in its mission to promote and protect the interests of its members and the business community as a whole through advocating for public policies, creating and facilitating opportunities. commercial and industrial, and the provision of business development services and adherence to the highest standard of business ethics.
She therefore urged the newly inducted members to commit to the ideals of high ethical standards and responsible corporate citizenship.
According to her, the Chamber has come a long way in building its current image and credibility through the vision, selfless service and integrity of its illustrious Founding Fathers and their worthy successors.
Earlier, LCCI Membership and Welfare Committee Vice-Chair and Chair, Ms. Mojisola Bakare, urged new members to be guided by the House governance framework having been inducted as the final Ambassadors. .
Indeed, 80 members were inducted, as Bakare reiterated that effective governance of the House is based on an institutional framework that promotes fairness, transparency, accountability and accountability in the private and public spheres, in accordance with the rule of law.