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Crapi Substance

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By Elizabeth Onuoha

The C-R-A-P-I Substance …

What makes us TICK?

What makes us FUNCTION?

How do we remain a Sustainable business? – It is by being C-R-A-P-I (Corporate Law, Risk Management, Accounting, Project and Strategic Management and Internal Control)

Effective and Efficient C-R-A-P-I-ness has proven to be the key driver, so don’t chill on the C-R-A-P, make it C-R-A-P-I!!!

An organization with a clear cut objective is one with an effective/efficient C-R-A-P-I operation, which demonstrates its need to continually F-A-R-T as a means of securing sustainability, invariably ensuring acquired wealth for future generations

The substance behind such demonstration is C-R-A-P-I, which is a groundbreaking portrait of the essence, vision and core values of an organization.

It is expected that organizations must continually seek to strike a balance between generating revenue and promoting leadership and good governance while educating staff on the world’s most reliable scale to measuring a prosperous and sustainable company – Corporate Governance, Corporate Responsibility and MOST IMPORTANTLY COMPLIANCE.

Does our economy intend to drive sustainable businesses?

Perception is reality in the eyes of stakeholders. According to Mckinsey; “investors will pay a premium for the stock of well-governed companies”.

This is for obvious reasons, as organizations have to attract and retain stakeholders as well as obtain financing to meet funding peak while demonstrating that these funds will not be squandered but used responsibly to produce consistent returns to investors.

The last couple of years have been a piloting stage for the international market in combating lack of good governance and corporate responsibility in systems, especially as it relates to ensuring key business operations  being  implemented in line with regulatory standards  – Corporate law, Risk management, Accounting principles, Project/Strategic management and Internal control (C-R-A-P-I).

Employees and Management have been made to understand that these C-R-A-P-I operations must function effectively and efficiently to ensure that the working environment within the Company is saturated with an atmosphere and/or culture of Fairness, Accountability, Responsibility and Transparency-   F-A-R-T. 

This is because the transition from piloting to full scale operation has evolved as businesses are now being publicly scrutinized and as such mandated to give account of their operations (Transparency) as well as made responsible for non-compliance.

An example of such companies includes but is not limited to; BNP Paribas – to pay $9 billion penalty to the United States of America over sanctions probe, Afren sacked its CEO over receipts of kickbacks with regards to an Oil and Gas transaction, there was the accusations of ENI an Italian oil company of paying bribes to Nigerian politicians, Technip and Snamorogetti paid fines of $338 and $365 million to the United states and $35 million to the Nigerian Government for bribes of about $180 million dollars paid over years with respect to the LNG project in Nigeria, Weatherford International charged to pay $253m for bribing officials in Iraq and Congo as well as violation of sanctions against countries including Iran, Syria and Cuba………

As we journey into a new government and the realm of international/global acceptance/ applied strategy, it is worthy of note that certain concerns in relation to balancing ethical behavior and profit making in the volatile society we find ourselves, have and will continually play a major role in directing the Governance of our businesses and countries, and the output towards ensuring we remain sustainable.  

Time is everything. Tick tock says the clock – C-R-A-P-(I) now while you still can!!

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