Revolutionizing corporate governance: A framework for solving leadership inefficiencies in entrepreneurial and small business organizations
1 Launchforth Group of Schools, Matogun, Lagos, Nigeria.
2 Independent Researcher, Bloomfield, NJ, USA.
3 S. C. C. Nigeria Limited.
4 Kennesaw State University, USA.
5 Rome Business School, Estonia, Italy.
Review
International Journal of Multidisciplinary Research Updates, 2023, 06(01), 045-052.
Article DOI: 10.53430/ijmru.2023.6.1.0066
Publication history:
Received on 11 July 2023; revised on 20 September 2023; accepted on 23 September 2023
Abstract:
Leadership inefficiencies pose significant challenges to entrepreneurial and small business organizations, often resulting in reduced productivity, misaligned strategic objectives, and limited scalability. This paper presents a comprehensive framework aimed at revolutionizing corporate governance in these organizations to address such inefficiencies. Drawing on interdisciplinary insights from organizational behavior, management theory, and case studies of successful entrepreneurial ventures, the framework identifies key leadership gaps, including communication breakdowns, lack of delegation, decision-making bottlenecks, and limited stakeholder engagement. The study proposes a three-tiered approach to mitigate these issues: (1) Leadership Development, focusing on cultivating adaptive, visionary, and inclusive leadership styles through targeted training programs; (2) Governance Structures, emphasizing the adoption of agile decision-making processes, transparent accountability systems, and participatory governance models tailored to the resource constraints of small businesses; and (3) Technology Integration, advocating the use of digital tools such as artificial intelligence and blockchain to enhance communication, monitor performance, and foster innovation. The proposed framework underscores the importance of aligning leadership practices with organizational goals and stakeholder expectations. Furthermore, it highlights the role of cultural and contextual factors in shaping governance strategies, ensuring their applicability across diverse entrepreneurial ecosystems. By implementing these strategies, small businesses can improve operational efficiency, enhance employee satisfaction, and achieve sustainable growth. This paper contributes to the literature on corporate governance by bridging theoretical insights with practical solutions, offering actionable recommendations for entrepreneurs, policymakers, and researchers. The findings emphasize that addressing leadership inefficiencies is not merely a structural adjustment but a strategic imperative for fostering resilient, future-ready businesses.
Keywords:
Corporate Governance; Leadership Inefficiencies; Entrepreneurial Organizations; Small Business; Strategic Leadership Solutions
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Copyright © 2023 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0