C002D5556 Tuesday 13 February 2018 28 BUSINESS DAY EDUCATION higher Are you a Tree Bat? Ngozi Adebiyi It was a must do - call it the ultimate opportunity to go to the cradle of Yoruba land. The marathon activities projected itself as a onetime opportunity to see two greats at once - the great Obafemi Awolowo University (OAU) and the great Ile-Ife city itself. So bag in hand the road trip began. A day before the Ile-Ife Heritage Marathon (IHM) there was need to pick up some toiletries and the allimportant bananas ahead of the trip so our super entrepreneurial and patient tour guide - Nonu stopped by an ATM enroute. Then I saw them! The skyline was laced with possibly a thousand of them. Bats! Bats fluttering and scampering in the air from a giant oak tree and some were falling from the sky. Under the same tree the bats flew off from, there was a clustering of people haggling over goods they had peered over. Apparently there was a connection. The bats were being hunted for food! The people clusters were potential buyers and side hustlers and the bats were free falling for food! Musings and pondering wandered to the bats as men hurled them in bags and bowls excitedly in a weird kind of way. Apparently the bats have made that tree their abode for years and have been hunted there often but have not migrated nor fled. Then I wondered how many times I’m like these bats at work, with clients or on an entrepreneurial endeavour. How many times has just being at a place of discomfort been a seemingly better option than moving or doing something about the situation? How many times do the same issues come up often with dire results and consequences yet we’re complacent in doing something about migrating? Might it be the plague of the comfort zone? Or wishing and hoping it would not happen again yet the ‘hunters’ circle right back and the pattern repeats itself. Are you displaying this characteristic of the tree bat? At work or on your job? On a project or with some specific team members? At home? In your career? You have the strength to change your story or “tree” in the case of these bats by first believing you can then becoming restless about the “gunshots” and “hunters”. You are not a bat or a tree. Do something. Go somewhere. Move! Enase Okonedo gets international appointment STEPHEN ONYEKWELU Enase Okonedo, the Dean of Lagos Business School has been appointed Secretary-Treasurer for the Association to Advance Collegiate Schools of Business (AACSB) International. She was elected to the board in 2015, and her new position became effective February 6, 2018. Okonedo is an accomplished professional with more than 30 years’ experience in the financial services and business education sector, and has held several leadership positions at LBS, including that of the Executive Master of Business Administration (EMBA) director, academic director, and deputy dean of academics. In recognition of her exemplary leadership and contributions to the Nigerian education sector she was conferred fellow of the Society of Corporate Governance Nigeria (SCGN). She is also a fellow of the Institute of Chartered Accountants of Nigeria (FCA), and a fellow of the International Academy of Management (IAM). Okonedo also served as a chairperson and member of the Association of African Business Schools (AABS) Board of Directors and is the president of AIFA Reading Society in Nigeria. Other appointees are John A. Elliott, dean of the School of Business at the University of Connecticut as vice chair-chair elect and Caryn L. Beck-Dudley, dean of the Leavey School of Business at Santa Clara University, has assumed the role as chair of the board of directors of AACSB International. As the world’s largest business education alliance, AACSB International connects educators, students, and business to achieve a common goal: to create the next generation of great leaders. Synonymous with the highest standards of excellence since 1916, AACSB provides quality assurance, business education intelligence, and professional development services to nearly 1,600 member organizations and more than 795 accredited business schools worldwide. With its global headquarters in Tampa, Florida, in the United States of America; Europe, Middle East, and Africa headquarters in Amsterdam, the Netherlands; and Asia Pacific headquarters in Singapore, AACSB’s mission is to foster engagement, accelerate innovation, and amplify impact in business education. For more information, visit aacsb.edu. Enase Okonedo CIPM set to leverage technology, improve learning outcome SEYI JOHN SALAU The Chartered Institute of Personnel Management (CIPM), a body that regulates Human Resource (HR) practice and management in Nigeria has said it will leverage technology to improve learning outcomes that will drive productivity in work-places. This position was made known at the 2018 CIPM Learning Leaders’ Forum with the theme, ‘Changing Current Paradigms – A New Approach to Developing Leaders for the Future,’ held recently in Lagos. Udom Inoyo, President and Chairman of Council, CIPM, in his address said the key feature of the institute for 2018 would be Nigeria is the number one country of origin for international students from Africa. It sends the most students overseas of any country on the African continent, and outbound mobility numbers are growing at a rapid pace. According to data from the United Nations Educational, Scientific and Cultural Organisation (UNESCO) Institute of Statistics (UIS), the number of Nigerian students abroad increased by 164 percent in the decade between 2005 and 2015 alone– from 26,997 to 71,351. In the short term, Nigeria’s oil price-induced fiscal crisis affected outbound student mobility. This is because as many as 40 percent of Nigerian overseas students are said to rely on scholarships, many of which were backed by oil and gas leveraging technology to deliver bespoke learning best suited for industry demand. Inoyo stated that as organisations grow bigger and new ideas are formed, technology and work are deliberately and consistently pushing the frontiers of learning, therefore transforming the how, and what of learning. “As an institute we recognise the need for renovation, and will continuously position CIPM to deliver bespoke learning programmes to equip members to confront current and emerging business challenges, and deliver optimum shareholders’ value,” Inoyo who was represented by Ajibola Ponnle, Registrar/CEO CIPM said. The institute as a testament to its readiness on leveraging technology to deliver custom-made learning programmes introduced a quarterly HR Webinar to equipp HR practitioners in developing leaders for the future. Kyari Bukar, Co- Founder/Managing Partner, Trans-Sahara Investments Corporation and Guest Speaker of the 2018 CIPM Learning Leaders’ Forum, said the leaders of the future will be selfdriven. According to Bubar, Learning and Development (L&D) entails that future leaders need to take ownership of the learning process, while managers at a higher level of cognitive development are likely to perform better. “Organisations that embrace change will perform far better than those who do not,” he stated. Bubar stated that there are four stages of human development starting with the agricultural age, just like there are two classes of development, which are the vertical and horizontal development. “The challenge of the future is not a leadership challenge; but a development challenge of the processes on understanding the how,” Bubar said. The Learning Leaders’ Forum is an annual event of the CIPM that comes first on the institute’s 2018 L&D Programmes, which bring together stakeholders in the L&D and provides a platform for consultation, knowledge sharing, and discussion on the future of learning and development in business. International mobility trends: Top African sender of students revenues. The vast majority of these scholarships have been scaled back or scrapped altogether in the wake of the fiscal crisis. Further exacerbating the immediate prospects of Nigeria’s overseas students was a 2016 crash of the foreign exchange rate of Nigeria’s currency, the naira. The crash increased costs for international students, and reportedly left large numbers of Nigerian overseas students unable to make tuition payments. But for all the short term upheaval, the push factors that underlie the outflow of students in Nigeria are fundamentally unchanged. These include: the failure of Nigeria’s education system to meet booming demand; the often poor quality of its universities and rapid growth in the number of middle class families who can afford to send their children overseas. Given those drivers, it seems unlikely that the crisis will lead to a sharp and prolonged downturn of international student numbers.
Tuesday 13 February 2018 C002D5556 BUSINESS DAY 29 BUSINESSINSIGHTS IDEAS THAT POWER HIGH PERFORMANCE ADVISOR BRIAN REUBEN KEYNOTE SPEAKER AUTHOR Considering the more than 70,000 management books on the subject according to Kiechel, strategy is an issue of great interest to business. No enterprise can survive without a strategy. You’re probably acquainted with the stories of companies like HiTv and Konga of late. Sad as those cases may be they clearly illustrate the fact that Nigerian companies as with their counterparts elsewhere still struggle with the understanding of what strategy really is. So what Nigerian companies rarely have strategy makes a decision strategic? How do you determine whether some set of decisions constitutes a strategy? And why does strategy matter? I speak to thousands of business executives in Africa annually on the subject of strategy and the unfortunate truth remains that Nigerian business leaders still have a hard time distinguishing strategy and operational effectiveness. Some that seem to make strategic moves struggle with operational effectiveness which apparently impedes the effectiveness of the strategy. Many others confuse operational effectiveness with strategy and wonder why their efforts did not pay off. As usual they blame their failure on the Nigerian circumstances. Before you run off and endorse that idea let me quickly remind you that the very purpose of strategy is to master the environment. Is is it the job of the strategist? Famed British banker and financier, Nathan Rothschild affirmed this when he said, ‘great fortunes are made when cannon balls fall in the harbour not when the violin play in the ballroom’. Strategy is a serious thing. It is the act of a general in the battle front. If you can imagine how the President of a nation will look at a General who excuses loosing a battle to harsh battle field, you will understand what it looks like when a business general blames his failure on external issues. This is serious because businesses that ought to create jobs, pay taxes and develop the economy are failing everyday and who knows which will follow tomorrow. After all from outside everything seemed okay with Konga but here we are now. So I will like to provide a working definition of strategy but first let me clarify some dark issues around strategy. First, strategy can not make you the best. I know this will come as a shock since many executives are simply trying to be the best. The focus on being the best is a pretty dangerous one since by the way that’s something impossible. Superior performing companies do not compete to be the best. Their strategic focus is rather on being unique. Providing a unique set of values to target segment of the market. Consider Netflix, Reed Hastings did not start out trying to be the best video on demand company. Instead the competitive strategy employed by the company was to deliver movies to the consumer in the easiest, most cost effective and convenient way possible. That’s seeking a unique position, not trying to be the best. You see, the drive to be the best locks companies in on competing on the same dimensions and nothing kills a company faster than that. Competing on the same dimensions means targeting the same group of customers and trying to create the same values to satisfy the same set of needs through the same channels at the same or slightly different price points. That’s strategic myopia and the path to corporate suicide. Don’t try to beat your competition on the same dimension especially if you’re trying to take on a well established business with a robust financial base. Blockbuster LLC, though began operations before Netflix began competing with Netflix on thesame dimension in 2004 because at this time they understood Netflix has become a threat to their business, they paid for that costly mistake by filling for bankruptcy in 2010 Please follow updates on this article on Facebook.com/ bdtraininglive. To get the full article FREE kindly email firstname.lastname@example.org Brian Reuben(@brianoreuben) is an advisor on strategy and leadership. He regularly conducts keynote presentations and senior executive workshops with companies around the world on strategy and leadership. He heads BusinessDay Training This Page Is Open For Sponsorship, for details call 0808 726 4420.