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Insights on Including Innovation in Strategic Statements from GTB, Dangote, Coca-Cola, and Others

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Companies, whether small or large, must answer two strategic issues that will decide their success or failure. What do they wish to become in particular? What do they need to accomplish in order to achieve their goals? The answers to these questions help every CEO, management, and employee achieve the company’s aims and objectives. The responses should be succinct, inspiring, clear, and memorable, expressing their (businesses’) desired short and long-term stance.

The first question’s response should lead to the creation of a strategic vision statement, while the second question’s response should lead to the creation of a mission statement. Time Thoughts recently suggested that the quality of vision impacts the creativity, quality, and originality of ideas and solutions, citing experts. A strong vision statement should push the company’s goals and objectives outside of its comfort zone.

Leaving comfort zone involves being innovative, taking chances, and continuing to learn in order to give consumers with acceptable and long-lasting solutions or products. Our analyst looked at how innovation is reflected in regional and global organizations’ vision and purpose statements to see how far they are breaking out of their comfort zones. Our goal is to learn how organizations in the oil and gas, banking, and aviation industries have connected their vision and mission statements with the innovation drive that 21st-century enterprises demand.

Guaranty Trust Bank, a commercial bank, is more innovation-driven and cultured than other organizations inside and across industries, according to the mission and vision indices our analyst devised and assessed, as well as the statements of the selected companies. Part of the bank’s vision statement says “We are a team driven to deliver the utmost in customer service.  We are synonymous with innovation, building excellence and superior financial performance and creating role models for society.”  This is part of the innovation ready risk-taking notion. Another section of the statement highlights the bank’s creativity and learning, both of which are important for the formation and adoption of an innovation culture.

The bank hints “We are a high-quality financial services provider with the urge to be the best at all times whilst adding value to all stakeholders.” Further analysis reveals that GTB’s innovation-driven and cultured characteristics are reflected in its mission and vision statements, whereas Dangote, Diamond, United Bank for Africa, Zenith Bank, Arik Air, First Bank, Oando, and Nigeria National Liquefied Natural Gas are not. Dangote and others are particularly sensitive to products/services, public image concerns, creativity, and employee and consumer concerns. According to a recent study, this could be attributed to the avalanche of papers that have appeared in recent years extolling the merits of delighting consumers and exhorting management to give them greater attention.

However, there are instances where the investigated innovation characteristics are not reflected in a firm’s vision and purpose statements, and such a corporation innovates more than innovation-driven companies. Coca-Cola is an example that quickly comes to mind. Because of the company’s commitment to sustainability, one-third of Coca-Cola cans are made from plant material. Regardless of the accomplishment, organizations such as Coca-Cola must make innovation a vital element in their strategic intent statements, as this will release employee creativity when it is part of an individual’s job responsibilities.

Tekedia Mini-MBA Welcomes The World; Register Today

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We begin on Monday, Feb 7. The first courseware drops in the Board at 12 noon WAT. I welcome professionals and learners from 41 countries in this edition. We also have many students from traditional universities through partnerships we have with their schools. This will be the best Tekedia Mini-MBA edition yet. New courses, new cases and an amazing academic festival awaits.

If you want to experience what it means for EXPERTS in markets to teach business courses, register today. When a director in Microsoft teaches cloud computing, you see the difference. When a Shell manager teaches delivering on deadlines, you understand better. When a Deloitte consultant teaches projects, you get it. When an SME leader teaches planning, you get the idea. We have 200+ faculty.

We’re Tekedia Institute and we welcome the world. Register here 

Nigeria’s Moral Panics in the Face of Abeokuta Money Ritual Killing

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Nigerian society, like other cultures, has never been immune to various anti-social practices that have destroyed societal ideals and standards. People of low socioeconomic and political rank are not the only ones that engage in antisocial behavior. People at the top and center of the social ladder have both been involved in a variety of unlawful, anti-norm, and value-based actions. Those who feel that activities that are harmful to collective social living should not be begun and carried out successfully in every part of society are causing moral panic.

Morality Versus Moralising and Nigeria’s Social Complexity

Nigeria has seen and continues to experience a variety of immoral activities, ranging from sexually motivated illicit actions to human sacrifice for ritual purposes in the pursuit of wealth, protection from evil eyes, and a long-life span. Moral panics are being caused by people, groups, non-governmental organizations, and the news media as significant conversations about the recent spike in human killings for money ritual continue on the digital domain and in numerous physical places. Our examination of various social media posts and interactions with stakeholders reveals a crucial proposition: “wrongdoers should pause and turn a new leaf in order for society to progress and become a better place to live for everyone.”

As fantastic as this proposal is, additional investigation reveals that many of its proponents are not actually giving answers to the issue. They’re simply making observations and reactions in the framework of moralising rather than morality. While individuals have primarily used morals, our research demonstrates that the news media has placed a premium on moralising. According to numerous philosophers and sociologists, morality is concerned with holding oneself or a group of people to certain standards of behaviour and recognising when those standards are not met. Moralising is the act of condemning those who engage in anti-social or unlawful behaviour without offering answers. In this case, the evildoers are mostly blamed for their activities because the ‘correctors’ did not tell them how to cease by following accepted norms and standards.

The ritual killing in Abeokuta has revived public debate about anti-social behavior among youngsters in recent days. People became interested in seeking and reading numerous groups on social media to learn how and where youths are learning money ritual skills as a result of the killing. Through the groups and mainstream media coverage of the Abeokuta killing’s aftermath, they were able to learn certain facts regarding money rituals. Taking a moralistic stance, on the other hand, will not help Nigeria. Given the country’s complexity, a morality approach is far preferable, as previously indicated. Our analyst believes that if the morality technique is used on digital platforms and in many physical venues, it will aid the government in discovering the proper agendas from the public before launching and implementing its policy agenda.

Workplace conflict and how this might affect growth

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No two individuals think or act the same way, and so when you have more than one person working on a shared vision, conflict becomes inevitable. It could be subtle or very obvious, depending on how the parties choose to express themselves. Employees naturally have different backgrounds and priorities, and when they run into conflicts, they may express themselves in ways like insults, non-cooperation, bullying, anger, or general resentment.

Now, we are not talking about conflict with customers or clients here, but conflicts between leaders and employees, team members, and the likes. Such conflicts may result from personality clashes, misunderstood communication to organizational mismanagement. And when not managed properly, it could cause a toxic and emotionally draining work environment resulting in decreased productivity, work disruptions, project failure, absenteeism, high staff turnover, and termination.

A typical example of conflict resulting from personality differences could be when two very different persons share a desk or an office cubicle. Mr. A likes to work in a quiet environment with no external input or direction. He abhors even the sound of music or any idle chitchat. Unfortunately, he shares a cubicle with Miss B who thinks work is more fun with some music blaring, and some fun chat along the way. Chances are that one person might have to silently tolerate the other, while silently brooding over it. This could cause some form of resentment over time.

Another scenario could be with people working on interdependent projects. Miss Cee loves to work under pressure, and so leaves the bulk of her tasks till the last hour and then starts running around trying to balance the scales. Unfortunately, Mr. Z has his entire job hinged on hers, and so he never gets to work on anything until she is done with it. With her penchant for a last-minute rush, Mr. Z has to continually battle with headaches, and late-night work trying to beat a deadline that was delayed just because Miss Cee wanted it so. He is now being negatively affected by her work behavior and over time, could spill out some anger, especially if he gets fined for turning in tasks late.

It goes without saying that conflicts of different kinds of gravity could adversely affect the quality and speed of projects delivered. Work styles, leadership styles, and personalities will always differ. There will be leaders who like to micro-manage staff and there will be staff who would rather work without constant interference. There will be late-hour workers and those who like to knock their tasks out early. Some of the more serious conflicts occur when there is harassment, discrimination, or intimidation going on due to age, race, ethnicity, gender, or any other reason.

For the most part, employees can sort out the conflict themselves. However, there is a need for the company to explicitly emphasize open-mindedness, acceptance, and understanding. It is part of building the work culture too. If the leaders throw jibes and use derogatory terms on the employees, then you could also see employees use it among themselves. But where management has shown itself to be open-minded, tolerant, and understanding, employees are naturally compelled to do the same.

As a tech entrepreneur, there is a kind of conflict you will almost certainly, if not severally, encounter – Conflict in creative or intellectual ideas. If two individuals disagree on a project idea, about what, how, and when it should be done, it is a sensitive area. First of all, keep in mind that out rightly discarding any idea (however stupid it might sound) is not a good idea. It can stifle productivity and creativity as you go forward. You need your employees to know that their voices and opinions are recognized.

One good tactic I recommend here is collaboration. You can get the conflicting parties to collaborate and brainstorm together on the project and piece the best parts together for a stunning solution. They could also look for compromise so both ideas can shine through while producing an even better outcome spawning from the collaboration. If needed, they could approach another colleague or a higher-up to mediate the discussion or offer their opinion on the final decision.

We learn and grow through competition and collaboration when handled properly in conflict situations.

Developing effective conflict resolution skill sets is key to building a sustainable business model. It is a skill that equals that of good employee retention because if you fail to deal with the conflicts or act like they don’t exist, you will eventually watch your good talent walk out the door in search of a healthier and safer work environment.

Don’t be a stupid person!

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An Italian economic historian called Calo M Cippola wrote an article in the late 1970s titled – the five laws of stupidity, a theory of how stupid people reason, operate and how stupid people are the most dangerous people on the planet earth. According to him, stupid people destroy and mess up things for other people without benefiting anything from it and how people pay less attention to the dangers and huge negative impact the stupid people have on everyone else around them.  

It was a quite hilarious and humorous piece of work but you can definitely tell that even in the humor the writer was making a serious point and a lot of sense. 

He asserted that educational or professional status does not excuse stupidity or uplift someone from stupidity. There are stupid people in all walks of life. There are stupid professors, stupid lawyers, stupid doctors, stupid politicians. Every profession can atleast boast of some stupid people.

According to him, one of the top quality of a stupid person is that they mess up things without benefiting anything from it. A stupid person is a person who will make a colleague lose a job without him getting the job. A person that attacks another without no intrinsic benefit accruing to him is a stupid person.

Having laid down the foundation of who and who a stupid person is according to Calo M Cippola and some of the qualities of a stupid person, you can see that there are a lot of stupid people roaming around the society. Stupid professionals, stupid politicians, stupid house builders and estate developers, stupid religious leaders, stupid freedom fighters, stupid suicide bombers, etc. 

Those that are foisting old and ready to retire politicians in Nigeria; politicians who everyone is sure that they have nothing to offer again to the development of the nation are stupid people, those that always plan to hit up the polity with no benefits accruing to them from the act according to Calo M Cippola are all stupid people. The list goes on, It doesn’t matter the person’s educational qualifications or professional status, a stupid person is a stupid person. 

Whenever you engage in an act, first ask yourself if the act is a stupid one and take an objective view of it; if other people lose and you gain nothing from that act then you are totally stupid; not my word by the words of Calo M Cippola.

Try not to be included or be found amongst the circle of stupid people, they are very dangerous, stupidly dangerous and it is more dangerous that they have no idea how dangerous them being stupid is and people ignore their stupidity without knowing that their stupidity have a huge negative impact in everyone around them.