Experts Urge Businesses to Unlock Opportunities, Drive Growth through Value Creation

 

Chibuzor

As many individuals and businesses are struggling to stay afloat amid the economic downturn, experts have reiterated the need for them to create new value to unlock new opportunities that would drive new growth and deliver new efficiencies.

This, according to them, is because since the outbreak of Covid-19, the global economy has witnessed viral economic shocks that have adversely affected the socio-economic activities of developed and developing economies across the world.

Speaking at a webinar that was aimed at getting organisations to a point of recovery, continuous growth, and transformation despite the economic changes, the Group Managing Director of First Group, Professor Olusegun Olasode said businesses must outdo themselves despite current changes.

Organised by First Leadership Academy, a subsidiary of the TL First Integrated Management Group, in collaboration with the Centre for the Governance & Leadership (CGL), was titled, “From Corporate Turnaround and Recovery to

Corporate Transformation and Growth.”

He urged businesses to have a clear view of where they are now and where they are going to continuously stay ahead, while leaders must constantly be open to allowing innovation banks and opportunities to flow in their organisation.

He said, “In this case, many business leaders and corporate strategists are focused on creating strategies that will help them regain their previous positions prior to the pandemic while losing sight of the opportunities emerging in the recovery to rethink and reinvent their businesses.

“By looking out for the giants in their industry or space, understanding their competencies as an organisation, and focusing on the future while being aware of the daily details that affect the organisation.”

He maintained that many organisations did not know how weak they were till the COVID outbreak as some are yet to recover due to a lack of constant preparation.

Olasode mentioned that an effective corporate transformation will require organisations to rethink how their enterprise creates value now and in the future.