‘A dose of leadership skills vital for change’

Dr. Pikay Richardson, a visiting senior fellow at the Manchester Business School, Manchester, UK, says a dose of leadership skills is vital for steering an organisation through change, and that good management is no longer enough in the current dispensation.  

He said the fast pace of change in a globalising world demands that companies become fast and flexible enough to meet the changes. 

He was making a presentation at an executive summit/lecture aimed at enhancing business transformation and public sector change in Accra. It was under the topic “Doing the Right Thing vs Doing Things Right”.

The executive lecture was spearheaded by Lockwood Institute, a professional education, training and consultancy service provider. It brought together top business leaders, chief executive officers and executive directors from both public and private sector institutions. 

“Today, the ability to manage change has become one of the most important attributes of success,” Dr. Richardson said. “To run a successful business today demands far more knowledge and skill. Market leadership is a goal for many a CEO. I have never come across any CEO whose dream or vision for his organisation is to be average.  

“They all expound the desire to be on top of the pack, be the pace or trendsetter or at least be among the best. Yet aiming high is only the necessary ambition; it is not sufficient -- the latter being the ability to translate the aim into achievement.”

Dr. Richardson explained that sustainable market leadership derives from strategic thinking, which is a mark of strategic leaders.  

In the 1980s, he said, IBM had clear dominance in the emerging computer and IT industry.

“It had unquestionable market leadership, was a trendsetter and had a huge market share to match. Substantial changes were occurring in that decade since the invention of personal computers by IBM in 1981.  

“IBM top leadership’s inability to manage these changes, as well as anticipate evolving changes, meant that the company rapidly lost its shine -- moving from the position of most admired company in 1984 to the 32^nd in 1990 -- and to an ultimate loss of US$3billon in 1992, the first in its 80-year history! The missing ingredient in the company was a lack of strategic thinkers at the top of the organisation.”

Commenting on customer-oriented companies, he said successful companies do the “right things” and therefore have a customer orientation. Less successful firms tend to be product-oriented, whereas today’s customer looks for a great experience that derives from a bundle of product quality, price, and convenience.

Mr. Franklin Asare, Executive Director of Lockwood Institute, said the institute offers professional development courses to equip clients with the skills to succeed in the business world.

“Lockwood Institute believes in development of the complete business professional, who is emotionally intelligent and empathically in tune with the socio-cultural and professional business environment.

“Lockwood Institute will hold regular conferences, inviting key corporate leaders and academics to share their knowledge and experience with students.

“At Lockwood Institute it’s never learning for learning sake. It’s practical, professionally-geared learning that puts you ahead of the game now and in the future.”

Lockwood Institute is a thriving specialist professional education, training and consultancy services provider with the passion to develop and enhance the profile of finance professionals to meet Ghana’s growth requirements.

It has a partnership with the Association of Chartered Certified Accountants (ACCA) Ghana.

Lockwood has three main training programmes in business education, continuous professional development and accounting software training.

Its courses include Project Management, Leadership Skills Development, Time Management, Corporate Planning and Budgeting among others.

Lockwood’s training is designed to help students get the most out of accounting software. “We facilitate knowledge transfer and help clients to quickly gain and continue to realise the full benefits of their investment in accounting software packages,” Mr. Asare stated.

Through a combination of academic excellence and professional expertise, Lockwood Institute has earned an excellent reputation for its unique approach to the education and training of professionals.