Madam CEO Morning Thoughts
Kind and considerate. Caring and very articulate. Principled and willing to mentor and give others a leverage.
She is none other than the Group Chief Executive Officer of Samchi Group, Dr. Madam Esther Muchemi.
“BUSINESS CONTROLS
Yesterday, I internalized , yet again, at a much deeper level, how important it is to have consistency in controls.
Business without controls is a very difficult thing to run!
And this time I am talking about very basic controls, everyday sort of controls.
Controls like banking cash intact,
Controls like taking and reconciling stock, debtors and creditors,
Things like signing out if the business so requires.
Some businesses like hotels require staff to change when they get in and leave big bags in lockers and such like.
Honestly, some of these controls look like they are a nuisance and yes, they are a nuisance, until something goes wrong and you then remember that controls have an impact!
Thinking about it, there were several excuses of why money was not banked eg:- misplaced safe keys….and now our bank account has no money.
A stock item was misused and no adequate explanation was given, and now a whole lot of stock is missing.
For a few days, people didn’t sign out, only for a theft to follow.
What am I trying to say?
Controls are there to be followed not to be broken!
Every time you see a control broken, take it a notch higher and get a reasonable explanation as to why it was broken and follow through to ensure this does not repeat itself.
The other thing about controls is that, whereas you may think the controls are good, never lose sight of another possible way of doing something.
Let me give you an example that looks almost obvious;-
As an owner or manager you may decide you will only sign cheques of 100k, but have you ever thought that someone may access a 100 k by signing 2 cheques of 50k each?
This is also possible with petty cash.
Let’s agree on this, controls are only as good to the extent they are followed consistently.
“Hit and run” controls are valueless and meaningless!
Actually, when there is a lie about controls, it’s worse, because you let your guard down and consistently make yourself vulnerable.
Don’t desire to look good at the expense of good controls.
When controls are good and kept, the goodness in you will automatically come out.
If you are in business, you are in business, any other business is not part of the business, period!
“Twende Kazi!”
We wish Madam CEO:Good health of body mind and soul, God’s immeasurable blessings,and Prosperity which no human person can imagine
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