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Nairaland Forum / Nairaland / General / Business / Why Do Some Successful Businesses Fold Up After The Demise Of The CEO? (19022 Views)
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Re: Why Do Some Successful Businesses Fold Up After The Demise Of The CEO? by sapele914(m): 5:03pm On Jan 11, 2023 |
jimetagambo:They are called the Rubber Barons in America, that is capitalism for you, nothing is new under the sun, if you no like you can go to North Korea. 2 Likes |
Re: Why Do Some Successful Businesses Fold Up After The Demise Of The CEO? by Moh247: 5:04pm On Jan 11, 2023 |
sapele914: I have a feeling you grew up around Ikoyi in the 90s 1 Like |
Re: Why Do Some Successful Businesses Fold Up After The Demise Of The CEO? by SocialJustice: 5:04pm On Jan 11, 2023 |
maureensylvia:To sum it up, lack of proper accounting and corporate governance. 1 Like |
Re: Why Do Some Successful Businesses Fold Up After The Demise Of The CEO? by Allisgud: 5:06pm On Jan 11, 2023 |
Most of them are the juju of that company,there are things they do like sacrificial rites,once they stop doing it the company wealth stop existing 3 Likes |
Re: Why Do Some Successful Businesses Fold Up After The Demise Of The CEO? by Karnice600: 5:07pm On Jan 11, 2023 |
HappyDolphinRea:Nice submission. The inclination of who succeeds that system is the omen that befalls it. That's what we're talking about here. Everyone works for money. Understood, but the person who succeeds you needs to work for more than just money. You can't coerce anyone to do it the way you would. 2 Likes |
Re: Why Do Some Successful Businesses Fold Up After The Demise Of The CEO? by Alezy(m): 5:14pm On Jan 11, 2023 |
Because next of kin no dey think twice before then withdraw 2 Likes |
Re: Why Do Some Successful Businesses Fold Up After The Demise Of The CEO? by sapele914(m): 5:15pm On Jan 11, 2023 |
Moh247:My hood, Vi, adetokumbi Ademola Victoria Island, next to 1G4 Na there we they play football, down to bar beach adjacent Kuramo lodge Apese corner now Eko Atlantic to chill with Igbo & shayo watching the Atlantic Ocean. Ikoyi is the block, second Avenue, near Abacha’s crib, down Ikoyi club, onto kingsway road, Ikoyi Hotel go sell gold to Aboki, charter Chs to Reeve road, down Thompson Avenue, Pachinoos on Awolowo Road, go get a bite @ double 4 next door. Or make we enter Obalende after midnight go find something chop before we hit town, after all back to bar beach to watch the sun rise by the Atlantic with a fat j in hand listening to Tu Pac California Dreaming? Eko Oni Baje, Lagos no they carry second, unless maybe to Warri, Jagaban must win. 8 Likes 2 Shares |
Re: Why Do Some Successful Businesses Fold Up After The Demise Of The CEO? by Franklydes(m): 5:15pm On Jan 11, 2023 |
Check well this happens to African businesses. Its likely cause the owner never left a future plan for a candid successor. You Africans na they don't show the main skills to anyone hence the demise of the business. Sorry for the loss 1 Like |
Re: Why Do Some Successful Businesses Fold Up After The Demise Of The CEO? by Exceed15: 5:16pm On Jan 11, 2023 |
No structure. It's built around the owner. 1 Like |
Re: Why Do Some Successful Businesses Fold Up After The Demise Of The CEO? by Laverczkky: 5:17pm On Jan 11, 2023 |
No smooth transition plans. 1 Like |
Re: Why Do Some Successful Businesses Fold Up After The Demise Of The CEO? by jojothaiv(m): 5:24pm On Jan 11, 2023 |
Sadly, most are still hell bent on repeating the same mistake, only few get to buck the trend. 1 Like |
Re: Why Do Some Successful Businesses Fold Up After The Demise Of The CEO? by Owutuotuo(m): 5:27pm On Jan 11, 2023 |
maureensylvia: I don’t have research-based facts but I think many of them are privately-owned by one person, rather that being a Partnership or PLC. 1 Like |
Re: Why Do Some Successful Businesses Fold Up After The Demise Of The CEO? by valentineuwakwe(m): 5:30pm On Jan 11, 2023 |
Becos they grew the Business as a one man show 1 Like |
Re: Why Do Some Successful Businesses Fold Up After The Demise Of The CEO? by CheapHomes1: 5:30pm On Jan 11, 2023 |
yrhuhfy113: Abiolas children from his first wife were already grown up. Kola was already into his businesses. Dr. Doyin one of abiolas wives was running concord newspapers 2 Likes |
Re: Why Do Some Successful Businesses Fold Up After The Demise Of The CEO? by CheapHomes1: 5:31pm On Jan 11, 2023 |
valentineuwakwe: Not necessarily |
Re: Why Do Some Successful Businesses Fold Up After The Demise Of The CEO? by Mrfixitt(m): 5:35pm On Jan 11, 2023 |
Lampass:Tell me more about this if you don't mind. Would like to know |
Re: Why Do Some Successful Businesses Fold Up After The Demise Of The CEO? by yrhuhfy113: 5:36pm On Jan 11, 2023 |
CheapHomes1: They were not groomed.... they were just figure heads. |
Re: Why Do Some Successful Businesses Fold Up After The Demise Of The CEO? by zoogy2007: 5:40pm On Jan 11, 2023 |
No succession plan. Most CEO especially the young ones believe they will live for ever. so they dont plan for the future of the business. |
Re: Why Do Some Successful Businesses Fold Up After The Demise Of The CEO? by membranus: 5:41pm On Jan 11, 2023 |
chukkystar: E.g.? |
Re: Why Do Some Successful Businesses Fold Up After The Demise Of The CEO? by olahero(m): 5:45pm On Jan 11, 2023 |
maureensylvia: INHERITANCES. Family members shared the CEO properties including the said company. 1 Like |
Re: Why Do Some Successful Businesses Fold Up After The Demise Of The CEO? by FreeStuffsNG: 5:47pm On Jan 11, 2023 |
maureensylvia:Chief MKO Abiola, GCFR, was never the CEO of those companies. He still has interests in some businesses still standing till today. |
Re: Why Do Some Successful Businesses Fold Up After The Demise Of The CEO? by chukkystar(m): 5:49pm On Jan 11, 2023 |
membranus:Dantata grew to even become a Shares selling firm under his Children, he is the one the also settled Dangote when he started. Even Otedola, he is running Businesses some of which were started by his Father after he was Governor. Oil Companies like Tonimas is run by Children whose parents started it.. 3 Likes 1 Share |
Re: Why Do Some Successful Businesses Fold Up After The Demise Of The CEO? by Bagu1(m): 5:54pm On Jan 11, 2023 |
Most at times, successful businesses dies when the CEO dies because the employees who already have the business idea would want to establish similar business initiatives and thus becoming the boss of themselves rather than working for the existing business as an employee. My thought anyway. 3 Likes |
Re: Why Do Some Successful Businesses Fold Up After The Demise Of The CEO? by toujurs: 5:54pm On Jan 11, 2023 |
Most of these indigenous business owners don't involve their family into their business. |
Re: Why Do Some Successful Businesses Fold Up After The Demise Of The CEO? by Nobody: 5:58pm On Jan 11, 2023 |
Lack of Sustainable Structure |
Re: Why Do Some Successful Businesses Fold Up After The Demise Of The CEO? by kezienaira: 5:59pm On Jan 11, 2023 |
sapele914: Ok then apart from his newspaper, there's no tangible something tinubu owns. His whole money was from drug pushing and Lagos state treasury 1 Like |
Re: Why Do Some Successful Businesses Fold Up After The Demise Of The CEO? by kezienaira: 6:01pm On Jan 11, 2023 |
meobizy: WTF!!! |
Re: Why Do Some Successful Businesses Fold Up After The Demise Of The CEO? by uchdavinci: 6:02pm On Jan 11, 2023 |
Approach and ideology. 1 Like |
Re: Why Do Some Successful Businesses Fold Up After The Demise Of The CEO? by ttmacoy: 6:03pm On Jan 11, 2023 |
Because we suck at succession planning and find it hard to delegate and let go of control, we went to be involved in everything and all decisions and as a result the business is too dependent on the owner. Nigerian business owners should learn to be comfortable delegating to other people and also paying people well so you attract smart problem who can make decisions without you rather than just paying N30k and expecting a genius. maureensylvia: 1 Like |
Re: Why Do Some Successful Businesses Fold Up After The Demise Of The CEO? by Olaideolayemi(m): 6:05pm On Jan 11, 2023 |
That's the problems of one man business,if the man listed all the company to Nigeria stock exchange.. The name and the company will still exist till now.. 1 Like |
Re: Why Do Some Successful Businesses Fold Up After The Demise Of The CEO? by fof1: 6:06pm On Jan 11, 2023 |
maureensylvia: Institutional Flaws,Lack of Good Corporate Governance,Greed and infighting amongst Others 2 Likes |
Re: Why Do Some Successful Businesses Fold Up After The Demise Of The CEO? by OVB123: 6:11pm On Jan 11, 2023 |
cassyrooy: 1 Like 1 Share |
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