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The breakout of the COVID-19 pandemic presented a unique set of challenges that threatened the reality of business as we knew it. Weaknesses in business structures, direction, and governance became more glaring, with ripple effects that will continue to unravel in the years to come. The adoption of corporate governance standards in Nigeria is still at low levels, and the pandemic is forcing many enterprises to take a closer look at their preparedness for an uncertain future. In this chapter, we explore the practical contribution of corporate governance to organisational success and key lessons that businesses should adopt as we accept the new realities of a post-pandemic world.

The new post-pandemic normal reveals challenging features of living through a crisis, including a heightened sense of fear and the awareness of one’s limitations. Some of the challenges have been identified as relating to shifts in employer–employee interfaces or doctor–patient interactions; to increased effort to embrace rapid digitalisation while maintaining interpersonal relations; and to increased pressure to adapt flexibly to financial and structural changes. These are embedded in a greater (and mostly positive) consciousness of human and organisational interconnectedness.

This chapter looks at the parallel experiences of business and health systems as they endeavour to thrive during and beyond a pandemic. The authors recognise the intricate relationship between businesses and health as they feed each other’s overall growth directly or indirectly. Businesses create wealth through a healthy regard for the well-being of their stakeholders while healthcare systems are affected by their own business structures. In both cases, responsible leadership and fairness help to avoid an unhealthy prioritisation of profit.

This chapter reflects on the various routes businesses and health care can take to preserve fairness through ethical leadership. The authors focus on six stakeholders (employee, customer, shareholder, society or community, environment, and creditors) who need to be appropriately cared for and prioritised. The authors consider how promoting human competencies can affect skill acquisition, emotional intelligence, spiritual, and moral growth in both spaces. At the core of our discussion is the concept of self-leadership, which boosts the organisational leadership that in turn determines the kind of future we will have in the new normal.