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| Strive Masiyiwa |
It’s time to play by a new (ethical) set of rules (Part 16-End)
__Respect for contracts and agreements drives business.
When I first moved to live in South Africa, about 15 years ago, I was interviewed by one of the leading weekly business magazines, Financial Mail. It was probably the biggest interview I'd ever done as an entrepreneur. The journalist asked me what I considered to be one of the greatest challenges for developing businesses in Africa. At the time, I said that we needed to foster a strong culture for respecting contracts and agreements.
To my surprise the editor decided to make it the cover page of the magazine!
I believe strongly that respect for contracts and agreements drives business success.
So many people believe they can just tear up an agreement, or completely ignore it, once its terms no longer suit their own interests. As you saw in the Nigerian shareholder disputes, my partners signed all the terms of the agreement when they needed me to secure the license and start the business. As soon as that agreement no longer served their own interests, or it stood in the way of what they wanted to do, they just cast it aside.
Sometimes in business negotiations, you may not have negotiated as well as you could have. Sometimes later you find that you could have got a better deal. Perhaps you may even feel that the other party did not disclose certain things. Does this mean that you can then tear up the agreement that you just signed?
For those of you familiar with the bible you may recall that Joshua was confronted with such a situation following his agreement with the Gibeonites. Joshua had every reason to feel cheated, but he did not tear up the agreement. Instead, he risked his life and that of his entire army to fulfill his obligations under that agreement. Most importantly, God showed His approval for Joshua's stance by helping him in his battle on behalf of the Gibeonites.
The people of Israel were angry with their leaders because of the peace treaty.
But the leaders replied, "We have sworn before the Lord God of Israel that we will not touch them, and we won't. (Joshua 9:18).
Does this mean you cannot try to renegotiate a bad deal with your partners? Of course not, but always do so first acknowledging and respecting at all times that there is an agreement. Do your best to get a better deal, but don't act in bad faith by twisting and turning over something you agreed to.
There are many people who will agree to almost anything when they want something, but as soon as they have what they want, or their circumstances have changed and they have more power (or money), they behave as though there was never an agreement.
The Tentmaker said, "Don't be like them," because that is called "lawlessness."
Treat each agreement that you enter into with others as though you had sworn it by oath before God.
__For Africa to move forward, we MUST replace a culture of impunity with a culture of integrity...starting with our own families, businesses and communities. And we must model that integrity in our actions, not just talk about it!
There will be times when, for any number of reasons, you cannot fulfill your end of a deal you’ve entered into. In such situations, engage the other party and be honest in telling them your difficulty. Don't run away or act dishonorably.
There will also be time when you are a successor to an agreement entered into by others before you bought the business, or took it over from someone else. You are bound by every agreement that they entered into on behalf of that business. It was your duty to check every agreement beforehand. Once you sign it, then you must adhere to it.
___There’s a saying, “Caveat emptor.” It means, “Let the buyer beware!” It is your responsibility to do your homework in advance of signing any agreement. Don’t let anyone rush you, no matter how big or powerful you think they are.
As your business gets bigger, others (like your staff) will enter into agreements on your behalf. If they were authorised to enter such agreements, then respect them, even if they are bad.
Finally, remember once again what Abraham Lincoln observed:
"Nearly all men can stand adversity, but if you want to see a man's character give him power."
#If you are only humble and approachable when you don’t have a big office or money, what does this reveal about your character?
#If you later show disrespect and contempt for those who ask you to honor your word, treating them like a nuisance, what does that say about your integrity?
If you tear up legal agreements and do not observe legal contracts, this means quite simply that you do not respect rule of law.
Of a truth, you are really only as big as the extent to which you will go to respect a contract and an agreement. For Africa to prosper, we must all commit ourselves not only to promoting rule of law, but also complying with and respecting the spirit of the law.
The end of the corruption series…for now.
Strive Masiyiwa Afterthought 2.
When my business was very small, I was approached to enter into a partnership with a very large company from the US. I told them I would only negotiate with them if they agreed to pay for a lawyer of my choice also from America. The exe...See More
When my business was very small, I was approached to enter into a partnership with a very large company from the US. I told them I would only negotiate with them if they agreed to pay for a lawyer of my choice also from America. The exe...See More
Strive Masiyiwa Afterthought 1.
Adhering to an agreement you made with someone you consider weaker or with less money (or influence) than yourself is a reflection of true humility and deep integrity.
Adhering to an agreement you made with someone you consider weaker or with less money (or influence) than yourself is a reflection of true humility and deep integrity.
Strive Masiyiwa One
of the biggest subjects that I would like to tackle one day is CHOOSING
THE RIGHT PARTNER. There is no serious business you can engage in these
days without going into some kind of partnership.
In business PARTNERSHIP is like a marriage; it is for ...See More
In business PARTNERSHIP is like a marriage; it is for ...See More
Strive Masiyiwa When
your business or organization gets bigger, you will increasingly find
yourself having to allow your staff to enter into agreements on your
behalf. You must set clear procedures governing, how an employee can
enter into an agreement on behalf of th...See More
Spencer Nene Thank
you Dr Masiyiwa, I recently entered into an agreement that was, as i
can see now, to my disadvantange. Initially, because of my
circumstances, I did not see the need to negotiate for a better
employment terms. I take it as a blessing to have read...See More
Elton Shamu It is a clear confirmation that the Lord is moving you from glory to glory.
Gideon Christ Boateng for
the time taken to pen these messages up to 16 I want to say a very big
thank you to you Dr. Strive. Even more, the best thank you we will give
you is to imbibe and demonstrate it to change our world. thank you for
changing lives, together we changing the world!
Babalola Raymond So
grateful to be a party to all of these great teachings and the
concluding part. This a great lesson for all young Africans in
entrepreneur. This last class talk so much on value and respect for rule
of law and biding agreement. Yesterday I was in a ...See More
Sterias Chisvoro Congratulations on your recent awards
Lij Teshager Kassa Nelson
Mandela wrote in his Autobiography, “Ethiopia always has a special
place in my imagination and the prospect of visiting Ethiopia attracted
me more strongly than a trip to France, England, and America combined. I
felt I would be visiting my own genesis, unearthing the roots of what
made me an African. ”
Tendai Choto At
Dr. STM, I can only say that you're the man referred in Proverbs, See
though a diligent man in His Business, He shall Stand amongst Great MEN
and not mere men!
Your values and principles are Spiritual. You've the mind of God!!! These teachings are better than my Harvard Business School experience. I believe that by following them I will get a hybrid mantle upon your life. God bless you my role model!!!!
Your values and principles are Spiritual. You've the mind of God!!! These teachings are better than my Harvard Business School experience. I believe that by following them I will get a hybrid mantle upon your life. God bless you my role model!!!!
ChristIan Maingi Mr. Masiyiwa, I am in awe of how much you love the Lord on top of your entrepreneurial success. That is very enviable sir.
John Major Zuze "For Africa to move forward, we MUST replace the culture of impunity with that of integrity."~ Strive Masiyiwa.
Twesigye Paul Mr. Strive, thank u for lifting my Spirit and for Inspiring me....
I look up to you, and i believe that i will make it one day...!
Through Honestly, Intergrity, Proffesionalism, Transparency,my projects will surely be a success.....See More
I look up to you, and i believe that i will make it one day...!
Through Honestly, Intergrity, Proffesionalism, Transparency,my projects will surely be a success.....See More
Daniel Eguavoen Isekhure Saying
it as it is. Your corruption series was an exposé. You have impacted
and touched many lives.It is my desire and prayer that all and sundry
will learn to play by the rule of the game. Again,African politicians
must also learn to keep to electio...See More
Eric Dan Okoth Nunda Thank
you My Big brother in Entrepreneurship. You bring these teachings out
so well, it's blessing. Kindly may God grant you favour and strength to
continue even other series, especially on entrepreneurship and good
governance. Africa needs them badly. Personally I want to honour you by
honouring my agreements with all, including my staff.
Promise Abiola Thanks
a million time, sir. I blindly entered an agreement some few months
back which am struggling to cope with right now. My partner refuse to
see reasons for renegotiation and it's really hard on me. In all, I have
learned my lesson. Like you wrote:...See More
Felix Tarakina thank
you Dr strive masiyiwa we benefited a lot from part 1 up to the 16th
part and you were reflecting the hidden angles of corruption which most
of our leaders are using to destroy our continet so we are going to use
some of the legal steps that you taught us as young entrepreneurs to
make Africa great
Kenny Valerie we should learn to speak up when we don't feel comfortable with proposal's
Uchenna Ezubem I
don't wanna blieve that honesty, integrity and abiding by the rule of
law don't pay. As a matter of fact, it pays! But when you look at the
level of the rot in our society today, you begin to wonder where we are
going and what has come over us as a p...See More
Oluseye Ojo Thank
you so much for the conclusion part I read. May God almighty continue
to pour out his blessings upon you. The main problem is that our
politicians in Africa do not have time to read and study. The only
language they understand is money and terms...See More
Ade Aderinto The
lack of respect for contracts and agreements have been a deterrent to
foreign investors looking to come to Africa. It continues to paint the
continent in a bad light. Even the governments are guilty of this .
However, those who are in the know must continue to live by example
while encouraging others to do same.
Kiflom Ghirmawi South Africans youth are not aware the Ethiopians were supported and Trained Mandela when fighting against white invaded
Kenneth Utomi Egboh That's
true. Am a Nigerian and I strongly believe in agreements. I signed once
with Lebanese company and when they saw I met all my terms, they
refused to do their part
Michael Ehioje Asumah Thank you for the great insight.
May God continue to lift you above your competitors in Jesus name.
You have shown that you are a man after the best interest of Africa. You dedicated your time to teach and inform us on the best and the right way to do business, the God fearing way. ...See More
May God continue to lift you above your competitors in Jesus name.
You have shown that you are a man after the best interest of Africa. You dedicated your time to teach and inform us on the best and the right way to do business, the God fearing way. ...See More
Rtn Moses Ssesanga Strive
Masiyiwa This problem unfortunately for Africa starts from the leaders,
and as the saying goes, the fish starts rotting from the head! They
routinely ignore their own constitutional term limits or change them to
suit their hold on power! It would be a tall order to expect the same
people to respect and enforce business contracts.
Robert Ndegwa In Africa, you can bet there are still many acres of text to be written before the war on corruption is won. May God be with us.
Lawrence Njalamwale This
is true for Africa. and this same trait is in most of our political
leaders who always think of changing the agreement/contract
(constitution) for their own good, when they get intoxicated by power
and money. This kind of behavior is what brings discord and confusion.
most of our civil wars have been birthed by selfishness, broken
promises, unfulfilled promises as well as a lack of humility.
BiYi Datzit Thanks
a lot for a wonderful series Dr Strive. I believe in my heart that you
have struck the right chord with a lot of young and vibrant Africans who
have wondered for long if we have to keep searching for role models
outside of our continent. Thank U...See More
Kenneth Ibeh I
also think contract agreement, is not a problem that is exclusive 2
business dealings alone but a problem that has and is sickling Africa;
politically, socially & economically. You see, the constitution of a
country is a contract agreement that bind...See More
Joseph Agbedor Most
Africans elite don't respect agreement, and when you stand up with them
they use their influence and position to harassed and intimidate you.
Really thank God for this God's gift to Africa (Dr Strive). Your impacts
in my life is immeasurable, God bless you.
Goodluck Okechukwu yes
ur right. on saying that if you qant to know a man the more give him
power. ur right. but the answer to all is for one to ask of wisdom from
God. b cos when your packed with wisdom then one can control every
situation. with ;God all things are possible
Ken Chidozie Enough
said, Mr.Strive.Your power of deep insight is clear for all to see,wish
African leaders can study and practise being humble with power.Thanks
,have learnt so much from you!
Desmond Igho Agbroko A
big THANKS to you, mr Strive. Because i have already made up my mind
not to honour my part of a deal that i made earlier this year. I'm a
plumber by profession and there was this contract that i got earlier
this year. The financial terms that were in...See More
Titilayo Tito Anthony Ogi Thank
you, Mr.Strive. The corruption series was an eye opener. Each part put
me in a furnace and had my integrity refined for the better. I am
positive that Africa will get to the promise-land we 'here' view in our
mind's eyes. Hope each student of these classes would take it upon
his/herself to strive daily to do the right thing despite the increasin
cases of corruption in our society. Nna! Welldone!
Chitakuramombe Mbudziihata This
is an inherent problem not only in Africa but in the greater western
world. People do not often honour thier word and I find it horribly
dipleasing. When we make commitments people change plans and make
decisions based on our promises. And when we...See More
Stuart Katumba Good idea and example from the biblical words I have learn something
even if how big is the job you must read the agreement first to sign the contract. for sure this is a challenge for us, because we dream for big things each but there is conditions we...See More
even if how big is the job you must read the agreement first to sign the contract. for sure this is a challenge for us, because we dream for big things each but there is conditions we...See More
Mallick Kotikalapudi World
is a big school and people around us teach many things.risk in business
is common.experience teaches us many things in life.faith and mutual
trust are prominent and primary in business dealings.example is better
than precept. Thanks for the article.Mallick
Francis Ndubisi Emeka Elijah integrity
is the act of firmness,to hold on to the truth even if it will cost you
your life. my question is this,do you have integrity?, it a pity that
in our today world,integrity is lost,to the extent that if a person says
good morning,you still have...See More
Israel Lawrence Sir,while
I av agreed wit ur write-up so far,I pse request to disagree on this
piece,it even negates ur stand on fight against corruption,the past govt
of GEJ&his Petroleum Minister entered into $Billion deals in the
Petroleum industry in which agreeme...See More
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