By Juliet ETEFE
Key sector players have underscored the importance of organizations and businesses striving to be future-ready, given the complexities of the ever-evolving landscape.
At a Future-Ready Leadership Summit organized by the Nobel International Business School (NiBS), industry leaders, experts, and innovators convened to discuss the ‘Reimagining of Leadership in a World of Unrelenting Change.’
They stressed the significance of fostering a culture of adaptability, innovation, and resilience to withstand the challenges of time. The experts also highlighted the need to nurture and mentor teams to be proactive, resilient, and responsive, while simultaneously building firms that are owner-driven but not owner-dependent, thus ensuring future-readiness.
In his keynote address, President of the Board of Directors of the ECOWAS Bank for Investment and Development (EBID), Dr. George Agyekum Donkor, urged business leaders to position themselves to adapt to any future eventualities, drawing from recent global events. He reiterated that a series of external shocks, including the COVID-19 pandemic, conflicts in Ukraine and Gaza, and domestic disruptions, have profoundly impacted many businesses.
Consequently, the importance of a two-pronged approach to future-readiness: anticipating future scenarios and integrating a high level of flexibility into a company’s organizational structure to enable timely reactions.
“The supply chain disruptions-fuelled inflation that ensued particularly from the pandemic and the war in Ukraine led to food and energy price hikes unprecedented since 2008. As if that was not enough, the global monetary hikes triggered a surge in the cost of borrowing thereby increasing the financial and operating costs of several businesses”, Dr. Donkor stated.
He further called for investment in enhancing organisations’ compliance with environmental social governance (ESG) requirements, which are essential for today’s financial market, while proactively using technology to improve their operations.
Underscoring the intentionality required to be ready for challenges both now and in the future, Dr. Donkor explained that “it takes a transformational leader to drive an organisation into a state of being future-ready”.
“We need to have a positive attitude to change. The Future-ready business in Ghana needs to see change as an opportunity and be excited about the future.
“Leadership in the face of unrelenting change demands agility, innovation, and vision. It requires us to transcend traditional paradigms and embrace a new way of thinking—one that is fluid, adaptable, and forward-looking. On this journey of reimagining leadership, let us remember that the true essence of future-readiness lies not in predicting the future, but in creating it. It is about empowering ourselves and our teams,” Chief Executive Officer at Ghana Chamber of Telecommunication Dr. Ing. Kenneth Ashigbey said in a speech read on behalf.
He said that highlighting the findings of the Future Ready Report commissioned by Vodafone now Telecel, which surveyed over 2,500 businesses.
He further stressed that organisations must be open to new technologies as it has the power to revolutionise industries by streamlining operations and enhancing efficiency.
Dr. Ashigbey added that integrating these technologies into operational frameworks is key but moving away from being just a consumer to investing in creating technologies that takes into account the country’s context is crucial.
He also urged organisations to embrace change with a positive attitude and creativity.
Founder & President of NiBS, Prof. Kwaku Atuahene-Gima, advocated for consciously challenging existing knowledge paradigms, fostering an environment where innovation and adaptability thrive.
He underscored the necessity for leaders to not only focus on present achievements but also to proactively prepare for tomorrow’s challenges.
Madam Nannette Atuahene, Founder of Our Watch Global, LLC who spoke from the perspective of entrepreneurship emphasised the significance of clear communication, specifically articulating the business’s mission and vision, and utilising all available tools to maintain visibility.
She highlighted the importance of mentoring, equipping, and empowering employees to ensure continuity and sustainability of the organisation’s mission and vision in their absence.
She also encouraged fostering synergy within businesses, where individuals complement each other’s strengths and weaknesses, creating a cohesive and resilient unit.
