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Lead Without Title (2)

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Late ‘Generals’ and ‘Generals’ that lost stars:

 

Some big organizations that used to be ‘commander-in-chief’’ of their respective industry segment are no more today because they chose to lead with titles. One of such is Polaroid. Polaroid used to be a four –star General and Commander-in-Chief of photography business. But when digital technology for photography came out, ‘General Polaroid’, ( as king of photography with several past laurels as number 1 in this and that) felt it was a fluke, so it failed to embrace it and stayed with its traditional instant image photography technology. Of course, General Polaroid died in the 1990s and was buried in 2001. Similarly, Xerox lost to Sharp photocopier machine when it abandoned the lower-end of the market for high-end market segment. In a jiffy, sharp pulled the rug off the feet of General Xerox. Happily enough, General Xerox has learnt its lessons. General Daewoo, on the other hand, did not have a second chance- it collapsed and died instantly.

 

Some four-star Generals lost one or two stars to competition. Sonny of Japan used to be a four-star General in electronics and gaming. But it lost to Samsung and Ninentedos. Microsoft lost to Goggle in World Wide Web search engine technology by embracing it two years late. Dell computers eroded IBM market in personal computers in the 1990s because General IBM led with its title as the first and biggest personal computers maker in the world. Sonny, IBM and Microsoft lost grounds to competition in critical segment of the markets because they reasoned and executed as ‘’titled chiefs’’ or Generals, at a time they should not have led with title.

 

Meanwhile, we have some companies which have imbibed the culture of leading without title like: Nokia, Easy jet, Google, Linux, Red Bull, and Apple among others. These companies remain restless insurgents in words and actions without relying on titles.

 

 

In the paragraphs that follow we shall itemize five building blocks which organizations need to put in place to win in the market place without parading their titles:

 

Building block 1: Groom the ‘Joshuas’’ well ahead of time: not a few corporate analysts were surprised recently when the CEOs of Merrill and Citigroup were laid off and it was embarrassingly discovered that there were no successors on the wings to take over immediately. This is a mistake which most organizations keep making repeatedly. According to research carried out by James Collins and Jerry Porras: ‘of the 18 successful companies studied, only four times – in a combined years of 1700 years! – did one of them go outside the firm for a CEO’. It is only when companies consciously identify and groom the future leaders ahead of time will they escape the temptation of always wanting to lead with title.

 

Building block 2: Model Insurgent Leadership: to win in the present dog-eat- dog market place of the 21st century, organization needs to focus on delivering the win, the whole win and nothing but the win by erecting an idiot-proof strategy that delivers the win. Globalization cannot be shut out, it can only be beaten says Tony Blair. Many CEOs in Europe and America and Nigeria are having sleepless nights because of the Chinese insurgence marketing strategy. Companies that will be around for the next two decades are the ones which model the insurgent leadership and create a more results-focused aggressive spirit among its employees.

 

Building block 3: Choose your destiny by defining the future. Winning companies are the ones who can see the road ahead, successfully articulate it and come up with products that customers will require at the right price and quality before competition.

 

Building block 4: Remain Paranoid. Companies that get scared and remain scared play to win and don’t play to lose, and ride ahead of today’s waves of change will always be two steps ahead of competition.

 

Building block 5: Culture is king. Cult-like companies bow down to their ideologies and bounce back faster when they are faced with challenges in the macro economic milieu; unlike companies without strong in-built culture. One of the most sustainable competitive advantages for CEOs is the development of what I call ‘’ownership culture’ as opposed to ‘we’ vs. ‘they’ culture that obtains in most companies today between the management and board on one hand, and the employees on the other hand.

 

In conclusion, what leading without title teaches the CEOs and employees is that they must beware of success. As Robin Sharman succinctly put it: ‘The more successful you and your organization become, the more humble and devoted to your customers you need to be.’

 

Akano, CEO of New Horizons, is an IT specialist and one of the World’s top coaches in sixth sense corporate strategy

 

 


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AXA Mansard Empowers Female SMEs with Financial, Digital Skills

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AXA Mansard, a member of AXA has empowered 200 female Small and Medium Enterprises with financial literacy and digital business skills.

In collaboration with SME 100 Africa, the two-day training, which was held in Lagos, is part of AXA’s lined-up programmes to commemorate this year’s International Women’s Day.

Speaking, Olusesan Ogunyooye, Head of Marketing AXA Mansard, said the training was aimed to empower female SME owners with skills to improve business output and position them for the increasing economic opportunities available in an increasingly digital marketplace.

Ogunyooye noted that the move was in line with AXA Mansard’s sustainability agenda, explaining that the company was convinced that support for women through its inclusive protection programmes was pivotal to its purpose of acting for human progress by protecting what matters and its mission of moving from being a payer to a partner.

He further said that focusing on digital skills was important because the company realised the importance of digital skills to the growth of the SME sector in Nigeria and wants to ensure that women were empowered enough to be a consequential part of that growth.

“It’s almost trite to say that SMEs are the engine for economic growth, especially in developing countries like Nigeria, where over 45 million adults are business owners. What needs to be continually discussed is how Nigeria is going to unlock that potential for economic development and how much of that potential will be unlocked by women and for women.”

“For us at AXA Mansard, we are aware that digital will play a major role in unlocking these current opportunities and Nigeria’s economic future. So, to ensure that women are equally represented in unlocking these future potentials, that’s why we have collaborated with SME 100 Africa to support them in developing the required skills”.

“Our choice of digital and financial literacy skills is deliberate. We understand the power of the duo. We understand that helping these SMEs with the skills to attract more customers will be a faster means to empower them.

“We see that they have amazing products and services, but they need to understand how to attract value for themselves by attracting the right customers, and you will agree with me that virtually all customer segments are online in one way or another today.

“So, if we can empower them with digital business skills, we would have helped them with the heavy lifting of trying to find and attract customers”. Ogunyooye explained.

According to him, AXA Mansard believes that for the world to experience progress truly, there must be an equitable distribution of creation and access to opportunities for men and women. This quest for balance informed the SHE for Shield initiative, a women-centred inclusive protection programme of AXA Mansard.

SHE for Shield is a group of initiatives designed for the Nigerian woman. The goal is to see them grow, add value, and help them mitigate risks at every step.

According to the company, research has found that access to health care is one of the most important things to Nigerian women, regardless of their economic segment. They desire to be financially independent, secure, and respected in the community.

 


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IFC Invests in New 4DX Ventures Fund to Support Tech Startups in Africa

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IFC is investing $10.5 million in a new fund by 4DX Ventures, a New York-based venture capital firm focused on supporting early-stage African technology companies across a broad set of sectors, including fintech, e-commerce, edtech, climate tech, and health tech.

IFC’s investment in 4DX Ventures Fund III will come from IFC’s $225 million venture capital platform, which was launched last year to strengthen emerging VC ecosystems and invest in early-stage companies in Africa, the Middle East, Central Asia, and Pakistan.

Africa is among the regions least served by venture capital, receiving just 2% of global venture deal volume in the third quarter of 2023. Access to capital on the continent has been further exacerbated by a slowdown in global venture capital investment.

Tech ecosystems are nascent, or even nonexistent, outside of more established markets such as Egypt, Kenya, Nigeria, Senegal, and South Africa.

“IFC and 4DX Ventures share the commitment to supporting tech entrepreneurs with innovations that will help Africa leapfrog in critical areas such as climate, health care, fintech, e-commerce, and education,” said Walter Baddoo, Co-Founder and General Partner of 4DX Ventures.

“We look forward to partnering with IFC to help promising tech startups build transformative businesses and realize sustainable development impact on the continent.”

4DX’s new fund will invest in companies with tech solutions that can improve productivity, efficiency and competitiveness across Africa. The firm’s first two funds invested in companies such as Egypt-based e-commerce platform MaxAB, an IFC portfolio company; Ghana-based health tech firm mPharma; and Kenya-based B2B e-commerce platform Wasoko, formerly known as Sokowatch.

“By supporting the development of tech ecosystems in emerging markets, IFC’s venture capital platform aims to improve access to key services, boost business competitiveness, and promote job creation through digital transformation,” said Mohamed Gouled, Vice President of Industries at IFC.

“Our investment in venture funds such as 4DX Ventures will help African entrepreneurs access more financing and resources they need to scale tech innovations and bolster sustainable growth across the continent.

In addition to providing capital, IFC will work with 4DX Ventures to implement their environmental and social management system.


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Climate Action Africa Announces CAAF24

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Climate Action Africa (CAA) has announced the inaugural convening of the Climate Action Africa Forum (CAAF24). This international event brings together stakeholders from across the world who drive thought leadership insights on how to encourage collaboration, catalyse actionable solutions, and urge governments, businesses, and individuals to invest in climate-smart initiatives.

The climate-focused event was announced at last week’s Friday international press conference held at the prestigious Transcorp Hilton Abuja. This marks a significant milestone in Africa’s journey towards a sustainable future. A precursor to the upcoming Climate Action Africa Forum scheduled for June 17-19, 2024, at the Landmark Events Centre in Lagos, Nigeria, this press conference brought together leaders, experts, and stakeholders from across the globe. The gathering’s main goal was to discuss the urgent need for sustainable development plans and climate-smart investments in Africa.

Framed by the theme “Green Economies, Brighter Futures: Innovating and Investing in Africa’s Climate-Smart Development,” the international press conference became a vibrant platform for insightful discussions, strategic collaborations, and impactful engagements. It convened an esteemed gathering of leaders, experts, and stakeholders to explore solutions for Africa’s pressing environmental challenges.

The event kicked off with a welcome address by the Executive Director and Co-founder of Climate Action Africa, Grace Mbah, who having announced the commencement of event registration as April 2nd, 2024, made the call for tech-driven solutions and innovations in the fields of emissions reduction, transportation, agriculture, energy, circularity and building and construction to apply to participate in the deal room.

Providing insights to attendees on how innovative approaches and collaborative action is at the heart of CAAF24, she extended an opportunity to like minded organisations who would like to partner by hosting side events and finally, a call for volunteers from across the continent.

“It’s no news that the world stands at a critical juncture, where decisive action is imperative to mitigate the adverse impacts of climate change. Against this backdrop, CAAF24 serves as a pivotal platform for key stakeholders to engage in meaningful discourse, and forge collaborative pathways towards a greener, more sustainable future.

The essence of CAAF lies in its commitment to shaping a climate-resilient Africa through co-creation, innovation, and sustainable investment. Through this initiative, we aim to catalyse solutions that enhance the sustainability and prosperity of the continent’s natural resources, people, and economies,” Grace stated.

During the International Press Conference, distinguished speakers and thought leaders emphasised the urgent need for collective action in tackling Africa’s climate challenges.

They delved into critical topics like renewable energy, sustainable agriculture, biodiversity conservation, and climate finance, offering practical insights and inspiring initiatives.

Jummai Vandu, representing the National Council on Climate Change, expressed optimism about the initiative’s outcomes. “Today’s discussions,” she said, “underscore the urgency of our collective efforts to combat climate change. The National Council believes working together is key to driving meaningful action and creating a more sustainable future for Africa and beyond.”

With the International Press Conference complete, the stage is set for CAAF24. Stakeholders will converge to translate ideas into action, forge partnerships, and drive progress towards a climate-smart Africa.

Mrs. Taiwo Fashipe, Head of Media for the Presidential CNG Initiative (P-CNGi), echoed similar sentiments, stating: “The theme of this year’s Climate Action Africa Forum aligns with our goals, vision, and mission at the Presidential CNG Initiative.

“We look forward to using this platform to advance interest in and investment in greener and cleaner energy sources like CNG.”

Standing at a crucial juncture in Africa’s quest for sustainable development, CAAF24, convened by Climate Action Africa in partnership with the National Council on Climate Change, Channels Media Group, and Founder Institute, emerges as a beacon.

It brings together the private and public sectors, guiding the continent towards a future marked by resilience, prosperity, and environmental stewardship.

 


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