Directors are encouraged to develop strategies that can build organizational resilience
The Institute of Directors (IoD) Nigeria has urged the institute’s newly inducted fellows and other business leaders to develop the capabilities and strategies needed to help build organizational resilience in a turbulent economic environment.
This charge was given by Ije Jidenma, President and Chairman of the Board of IoD, during the Investiture of Fellows 2022 held on Thursday, October 13 at the Oriental Hotel, Victoria Island, Lagos. The Institute inducted 25 Fellows and two Honorary Fellows at its October inauguration in Lagos.
“It is therefore important to build the capacity of business leaders to deliver dynamic strategies that will help build organizational resilience and help companies identify and exploit opportunities and drive innovation in order to stay competitive in the face of uncertainties. .
“In times of disruption, leaders can help businesses survive by developing and overseeing the establishment of a more agile and innovative workplace that will create the best positive outcome for the organization’s growth and sustainability” , she said.
According to her, the theme for the Fellowship 2022 investiture, “Leadership in Disruptive Times: Surviving the Uncertainties,” couldn’t come at a better time considering that today’s world is filled with uncertainties. and that the challenges facing businesses are better imagined.
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“The role of business leaders in helping organizations through these turbulent times cannot be overemphasized. It is only through highly effective, knowledgeable and effective leaders that organizations can survive these perilous times. said Jidenma.
Ayo Omotayo, guest lecturer and director general of the Kuru National Institute for Policy and Strategy Studies, said most people in governance, politics, business, even paid jobs, would like to avoid uncertainty. According to him, people base their plans on what they have been told, confident that they will have eliminated the uncertainty they would otherwise face.
“In reality, in all areas of life, the future is not predetermined. It’s everyday experiences from certainty to uncertainty that happen and make uncertainty more evident,” Omotayo said in his talk titled “Disruptive Leadership: Its Strengths, Weaknesses, and Options During Times of Uncertainty. commercial”.
He said that as individuals and businesses evolve, reducing uncertainty is more important for survival than seeing reality accurately. According to him, people should seek to deal with uncertainty by finding ways to instil a different philosophy and approach, instead of trying to avoid it.
“Rather than trying to reduce things to certainties through prior logical predictions and analysis, a disruptive leader must be able, through different thinking, to open things up to the possibilities inherent in uncertainty by being more” right brain”.
“A disruptive leader, rather than choosing research, forecasting, and planning, might more often embrace exploration, effectuation, and antifragility. This is keeping in mind that the situation determines the approach; being antifragile so that if the unexpected happens, as it will, we are ready to take advantage of it,” Omotayo said.