In August 2020, Amrut Joshi was selected as a consultant by Stanford Seed (Stanford Institute for Innovation in Developing Economies), to consult on a pro-bono basis for organizations that are part of the Seed Transformation Program (https://lnkd.in/gUnx-Gc ).
Subsequently, in 2021, Amrut advised a family business in Ethiopia on Corporate Governance Frameworks as a part of the Seed Transformation Program – Corporate Governance project. The project was an eye-opener in terms of the exposure to the cultures, business environments, regulations and standards that businesses in Africa are bound by and operate under.
We were able to highlight through our research that the underlying reasons for corporate governance issues or failures across the world are largely the same. While country-specific laws vary, progressive organizations across the world can and will build corporate governance frameworks that go beyond such legal/reporting obligations and ensure that they can be benchmarked favorably against their peers across the world! It was heartening to note that this particular family business in Ethiopia, and several other progressive businesses in Africa, as elsewhere, are open to adopting globally accepted governance standards, employment policies, gender equity, and diversity, equity, and inclusion (DEI).
Working on this project entailed multiple zoom conversations with representatives of this family business, and research on the best corporate governance practices recommended for family businesses in various other regions of the world. Amrut submitted a set of recommendations for the consideration of the Board of Directors of this family business at the conclusion of this Project.