LCCI Tasks Members To Re-Evaluate Operations, Business Models

The Lagos Chamber of Commerce and Industry (LCCI), has tasked its members on the need to re-evaluate their operations and business models to operate efficiently in a post-pandemic economy.

The LCCI had already re-aligned its strategy to broaden its scope of services and policy advocacy, the Chamber urged business owners to also adjust their models for efficiency and profitability.

Similarly, members were advised to adhere to professional and high ethical standards to achieve profitability and sustainability in their business operations.

LCCI President, Toki Mabogunje, stated businesses have obligations which transcend profit-making, noting that adequate attention to integrity of business transactions and practices is key to ensuring business continuity and profitability.

During the chamber’s induction ceremony, Mabogunje added that the Chamber believes so much in adopting ethical behaviour and fairness in carrying out business dealings with members, non-members and the society at large, while also expressing the need for the Federal Government’s protection of the business environment.

“The challenges created by COVID-19 portend new opportunities that we must never allow to waste away. As the economic activities gather momentum across the world, it is imperative for businesses to seek out and seize the opportunities emerging in the global recovery.

“This involves diagnosis of actions taken, data, trend and insights on lessons learned from the pandemic, and then using the outcomes to prioritise strategic measures to enhance business operation and build strategic resilience for future,” she added.

Mabogunje also said the objective of the Chamber is encapsulated in its mission to promote and protect the interest of its members and the business community at large through public policy advocacy, creation and facilitation of commercial and industrial opportunities, and provision of business development service and observance of the highest‎ standard of business ethics.