‘Nigerian businesses need to align their strategies with their environment’
PAUL BUTLER, Executive Development Director, Aston Business School, UK, in this interview speaks on strategic challenges facing corporate organisations in Africa and proffers lasting solutions to same. Excerpt:
What are the key strategic challenges facing African Organisations?
Strategy is about creating a unique position for an organisation, a winning strategy can be achieved when an organisation outperform rivals by establishing a difference that it can preserve. Organisations need to be able to align their strategies with their own environments and in so doing help them in achieving higher performance. African managers face many strategic challenges including globalisation and international competition, high political risk, tough operating environment characterised by weak institutions and limited infrastructure as well as inadequate capacity to develop and retain human capital.
How can Nigerian executives address these key strategic challenges facing African organisations?
In order to meet these challenges and turn them into opportunities for growth for their organisations African managers need to change their managerial approaches to cope with these increasing demands. They need to consider new leadership styles and competencies to become more efficient and effective, particularly in areas such as managing change, leadership for results, formulating winning strategies and performance management which our forthcoming executive development programme at Aston Business School in the UK will address.
From the training development point of view, what would isolate as the critical development issues that African countries need to address?
A major challenge for many African countries, including Nigeria, is the inadequate infrastructure. Many Sub-Saharan African countries lack a stable electrical grid, creating the need for scarce resources to be expended on inverters, fuel and generators. Some organisations will expend up to 25 percent of the revenue for these basic needs. Rail networks for the transportation of goods and people are either moribund or ineffective in most African countries. The health care system is limited and unreliable, often resulting in quality health care being available only to those with financial or political influence. The large Gini coefficient (the gap between haves and have not) in many African countries contributes to political and personal insecurities.
There is a significant divergence between planning and actual implementation. While Nigeria’s 2015 transition budget is in Trillions of Naira a large portion of those funds will be earmarked for projects that will never be implemented or are rife with mismanagement upon completion if history is anything to go by. The approval and disbursement system of the National budget is inconsistent and often delayed. All the above mentioned challenges reveal that poor leadership is the bane of African countries development which our forthcoming executive development programme at Aston Business School in the UK will address
An example of the dearth of leadership is exemplified by the Mo Ibrahim Foundation’s inability over three consecutive years to find a creditable former African President upon which to confer its award for outstanding leadership and governance. It is not that African leaders are bad people, but often they lack the leadership training and skills to deal with the critical issues facing the continent. Africa has a bright future with the potential for impressive growth and a real chance to improve the lives of the people. However, for that to happen there is an urgent need to provide the training that will lead to better leadership to take advantage of these opportunities. My view is that once it gets the leadership quotient right, Nigeria will be on the path to greatness.
Aston Business School is partnering with These Executive Minds (TEXEM) to deliver an executive development programme next month, what would be the focus?
Today and Tomorrow’s dynamic plus fast paced global economy demands leaders with a systemic view of organisations and a revolutionary perspective which our forthcoming executive development programme will address-Thus, participants will develop their cross-functional competence, make better decisions and expand their outlook through the forthcoming executive development programme ‘Leading and Managing Human Capital’ organised by Aston Business School in partnership with These Executive Minds (TEXEM). With world renowned academics, Aston Business School in the UK has unparalleled reach and scope to provide delegates with an experience that will amplify the promise of their career by enhancing their strategic and leadership quotient.
Furthermore, the course will provide analytical insights and industry expertise into how to build high performance organisations, achieve effective organisational practices and attain superior outcomes particularly in a developing country context characterised by weak institutions and limited infrastructure. In addition, the skills and expertise you need to empower your organisation and get more from your most talented people will be explored and developed during the programme. Upon completion of this programme participants will hone their management skills after covering the following overarching themes:
Leading for results, aligning human capital with competitive advantage, boosting organisational performance, Inspiring change management for maximized benefits and addressing key strategic challenges facing African organisations.
Who would you be attracting to the programme?
The programme is focused on senior executives from both the public and private sector who are keen to learn more about how to formulate strategy, improve leadership quotient and enhance organisational performance. Our executive development programme is specifically tailored for chairpersons and members of boards, CEO’S, managing directors, executive and non-executive directors, vice-chancellors, permanent secretaries, director generals, human resource director, chief financial officers, company secretaries, directors of procurements and chief operating officers just to mention a few roles. We also welcome senior managers and directors engaged in strategic roles in prominent national and international firms within Nigeria. Of course, we also would welcome and encourage the participation of senior public sector bodies involved in policy and strategy formulation. Senior officers in government sponsored economic and industry agencies, as well as senior consultants involved in large infrastructure projects, are equally welcome.
How can organisations become more effective?
Improving organisational effectiveness is all about goal management. An efficient and effective organisation must incorporate a continuous programme of learning and growth, improving organisational processes, accelerating customer satisfaction, and achieving financial sustainability while maintaining strategic direction. To be effective, the concept of goal management must become an integral part of the mission of the organisation. An organisation will be most effective if it incorporates a robust organisational management structure that enables proper processes to be followed without becoming bureaucratic and stifling creativity. Organisations need to clarify continually, improve strategy and vision, and transform plans into action. Corporate governance, translating enterprise strategy into implementation is a challenge in Nigeria and elsewhere, but with training, dedication, and good people it is a challenge that will be overcome for superior sustainable performance.
How can Nigerian executives lead for results?
In today’s rapidly changing world, gaining the trust and support of others is key to successfully implementing strategy. Great leaders achieve optimal results by setting the direction, inspire action, manage the human capital and align resources and develop the capabilities of key talent in the organisation.
How can Nigerian executives align human capital with competitive advantage?
The value of the human capital asset of a nation is a function of the quantity and the quality as well as the operating environment. For Nigeria to meet the human capital development challenges of the 21st century and beyond, the gaps and flaws of the education system need to be urgently addressed. The programme will help executives to identify strategic opportunities in their local context and how best to develop and retain human capital inside their organizations and importantly in Nigeria.
The programme will explore ways in which organisations can get quick wins, together with medium and longer term leadership strategies to leverage human capital and create sustainable competitive advantage.
How can Nigerian executives boost organisational performance?
The economic environment in emerging countries is rapidly changing due to a number of factors including globalization, changing market demands and increasing competition. To be able to compete successfully in this environment, organisations continually need to improve their performance and a key factor in boosting performance is the development of internal talent and the recruitment /retention of new talent.
How can Nigerian executives inspire change management for maximised benefits?
In order to inspire change management all executives need to be able to articulate a clear picture of the future one that is easy to communicate to the rest of the organisation. The building of relationships is key in this process, as is demonstrating emotional intelligence and good listening skills. Senior executives need to be a powerful role model, demonstrating real passion for the new future and providing strong direction that inspires people to follow and embrace the change.
How will this programme help executives to build their capacity towards achieving strategic objectives?
The programme will demonstrate a number of options for developing and achieving a competitive strategy, including the building and leveraging of networks and relationships (including those with fellow participants and Aston faculty) together with building and leveraging competitive human resources and capabilities.
Could you tell us more about your organisation?
Aston Business School is an elite triple-accredited business school; recognised as one of the world’s leading Business Schools. We offer innovative programmes tailored to address the needs of organisations and its leaders.
Our truly insightful executive education programmes enable participants to gain perspective and a critical insight into their own management style, and enhance their competence as dynamic and inspirational leaders for superior organisational performance. Aston Business School is 1st in the UK and 2nd in the world for immediate return on investment (The Economist, 2014) and has a global network with 12,000 alumni and business partners.
Aston Business School was the first UK business school to be awarded the prestigious EQUIS accreditation, in 1999. Aston Business School is the first institution in the UK to be allied with Beta Gamma Sigma by establishing a BGS Collegiate Chapter. Aston Business School partners with organisations such as These executive minds to provide bespoke and accredited development programmes for senior managers and businesses around the world.
By partnering with major global enterprises and top universities, These Executive Minds (TEXEM) develops a series of open and customised educational programmes that address the challenges that organisations face in today’s dynamic business environment. We focus on building management skills through capacity development, research and consulting, and work to overcome the skill gaps in African organisations. Our ultimate goal is to provide organisations with the methodology, research skills, and knowledge to drive better decision-making to meet the challenges of the modern-day business world.
TEXEM’s mission is to help organisations to achieve their full potential through high-quality education, research and consulting services in partnership with world-leading institutions, such as the Aston Business School, Henley Business School, University of Oxford and the Manchester Business School. Our goal is to help high-calibre candidates become well equipped for the world of business and to show employers how they can maximize the effectiveness of their employees. TEXEM is committed to adding sustainable value to our partners. Hence, we carry out research and conduct skill-set gap analysis to identify potential deficits in the skill set of Nigerians. Then, in partnership with our global executive education providers we then work to equip Nigerians with the requisite skill set to add value to their organisation in line with the government’s local content initiative. Our alumni on our executive development programmes in partnership with world class institutions have included ministers, CEOs, commissioners, chairs of boards, executive directors, vice-chancellors, CFOs and permanent secretaries among others.