Conceptual Model of Responsible Business Management in Yorubaland

Abstract

This chapter is an exploratory piece based on the historical and cultural background of Yorubaland. It examines the conceptual and theoretical understanding of responsible business management globally, and in Yorubaland, the perception and practice of responsible business management in Yorubaland, and the purposes of responsible business management in Yorubaland. It deploys an extensive review of extant literature, perceptual engagement of Yoruba and non-Yoruba Indigenes on responsible business management in Yorubaland through survey (See Appendix for respondent’s profile), in-depth interviews, and a comparative validation review of the case of an intergenerational business in Nigeria.

The case review showed that the family business viewed the cultural expressions in the family business management as strengths. Values were recurrent features in its success evaluation, and responsibility concerning various stakeholders was a business imperative. The perceptual survey and engagement showed that Yorubaland must and should bring its respect for knowledge and education, promotion of cultural heritage: Ọmọlúàbi, use of traditional cooperative approach to management for talent development and capital generation. Additionally, the Yorubaland can leverage what merit and experience and documentation of techniques and methods employed by successful businesses can afford their institutions, current and future business management practice.

This chapter provides insights for further research: business models, frameworks, and cultural understanding that work for Africa. It posits values as central for connecting other elements of responsible management and the consequential desired results. African (including Yoruba) storytelling and proverbs should be used consciously and often, during strategy sessions and retreats, for personal development plans/personality-archetype profiling, organisational culture mantras, and community/societal development advocacy efforts.

Citation

Olofin, E. (2022), "Conceptual Model of Responsible Business Management in Yorubaland", Ogunyemi, K., Ogunyemi, O. and Anozie, A. (Ed.) Responsible Management in Africa, Volume 1: Traditions of Principled Entrepreneurship, Emerald Publishing Limited, Leeds, pp. 93-118. https://doi.org/10.1108/978-1-80262-437-320221011