January 2023
Facebook: @ceotodaymag Twitter: @ceotodaymag YouTube: CEO Today Magazine Instagram: @ceo.today LinkedIn: /ceo-today Follow Us. Connect with the Powerful and Influential. Follow us on social media to receive the latest updates, news and online features on the go. www.ceotodaymagazine.com
Subscribe. Never miss an edition. Stay connected. www.ceotodaymagazine.com Subcribe for FREE online, or contact us for a Hard Copy Subscription quote: Jacob.Mallinder@universalmedia365.com | 0044 (0) 1543 255 537
STAY CONNECTED! Follow us on: CEO TODAY Copyright 2023 Circulation details can be found at www.ceotodaymagazine.com The views expressed in the articles within CEO Today are the contributors’ own, nothing within the announcements or articles should be construed as a profit forecast. All rights reserved. Material contained within this publication is not to be reproduced in whole or part without the prior permission of CEO Today. Disclaimer: Images used in this edition have been done so under the creative commons licenses. For details, see links below. creativecommons.org/licenses/by-sa/3.0/legalcode creativecommons.org/licenses/by-sa/2.0/legalcode creativecommons.org/licenses/by-sa/4.0/legalcode Editor’s Note. March 2023 6
38. 42. 34. 68. Katina Male Editor Hello and welcome to CEO Today’s March 2023 edition! As we enter the month of March and quickly approach the end of Q1, I’m excited to present CEO Today’s latest dose of leadership and lifestyle inspiration! 7 Our Favourite Stories from this month: All of this and so much more - I hope you enjoy the content in CEO Today’s March 2023 issue! Make sure you check out the full list of features and exclusive interviews over the next pages. If youwant to stay connectedwith us until our next edition, visit our website for more, join the conversation on our Twitter (@CEOTodayMag) and follow our LinkedIn, Facebook and Instagram pages. Best wishes, Napoleon Didn’t Micromanage, Why are You? International Women’s Day: Equity for All 3 Unexpected Ways CEOs Can Do More to Address Sustainability in 2023 SiyamWorld Maldives: Escape to Paradise
CONTENTS. March 2023 14. An Interview with Global Art Dealer Jan DavidWinitz 20. Wound Healing Revolutionised 24. Inside GEO-MIK: The Story of Launching and Growing a Startup in Africa 34. 3 Unexpected Ways CEOs Can Do More to Address Sustainability in 2023 38. International Women’s Day: Equity for All 42. Napoleon Didn’t Micromanage, Why are You? 48. 5 ways Leaders Can Support StaffMental Health During Economic Uncertainty 54. Banning Meetings isn’t the Answer to Improved Productivity 60. 5 Tech Developments for CEOs to Watch in 2023 68. SiyamWorld Maldives: Escape to Paradise 80. The Odissean Experience: Success Redefined 8
68. 60. 42. 14. 9
10 The Stories Everyone’s been Talking about News. March 2023 10
Musk Has Donated Nearly $2bn of Tesla Shares to Charity Last year, ElonMuskmade a charitabledonationof approximately $1.95 billion worth of shares in his electric car company. The donation of 11.6 million shares was referred to as a “bona fide gift” in a filing with US regulators. However, the recipient or recipients of the donation were not named in the filing. The donation was made between August and December of 2022, according to the filing. In 2021, Musk donated about $5.74 billion worth of Tesla shares, according to a regulatory filing, and stated on Twitter that he planned to donate $20million to schools in Cameron County and $10 million to Brownsville, Texas for downtown revitalisation. In addition, he suggested that he would locate his successor as CEO of Twitter by the end of 2023, stating that this year would be an appropriate time to do so. With an estimated net worth of $197.5 billion, this is not the first time Mr. Musk has given Tesla stock to charitable organizations. “I’m guessing probably towards the end of this year would be good timing to find someone else to run the company, because I think it should be in a stable position around, you know, at the end of this year,” he commented. “I think I need to stabilise the organisation and just make sure it’s in a financially healthy place and that the product roadmap is clearly laid out.” FTX Founder Hit with New Charges Sam Bankman-Fried, the former CEO of the now-collapsed cryptocurrency exchange FTX, is facing four new criminal charges. He’s accused of conspiring to commit bank fraud and make illegal political donations. Previously, Mr Bankman-Fried pleaded not guilty to charges of defrauding customers and investors. With the new charges, he now faces a total of 12 criminal charges and could face more than 100 years in prison if convicted. Prosecutors claim that he conspired with two other former FTX executives to donate tens of millions of dollars to influence US politicians to pass laws favourable to the company. Allegedly, these donations were made through “straw” donors or with corporate funds, allowing Mr Bankman-Fried to evade contribution limits. His Alameda Research hedge fund and FTX customer funds were used to fund many of these donations. Judge Lewis Kaplan has set a trial date of 2 October. A spokesman for Bankman-Fried declined to comment on the charges. Photo: Wikicommons - Debbie Rowe
1 2
13 THE CEO INTERVIEW
www.ceotodaymagazine.com 14 THE CEO INTERVIEW
15 An Interview with Global Art Dealer Jan David Winitz Over the past 43 years, Jan David Winitz, founder and president of Claremont Rug Company, has built a global business from a base that initially served only a small number of clients in Northern California. How he developed a company that now places artlevel antique Oriental rugs with clients in over 50 countries on six continents is the product of thoroughly knowing his market, intimately understanding his client base, and concentrating his efforts onwhatmakes his business a rich resource for those he serves. Winitz believes strongly that his underlying business philosophy crosses industry lines and aptly applies to broad consumer marketing segments. As he says, “what you leverage for leadership in your business should set you apart from others in your field. In our case, it is having built a highly curated inventory and purposefully developing ongoing relationships, both with our clients and with a network of sources who provide us access to an extremely valuable and increasingly rarely found product.” He points out that, for the most part, other galleries and global auction houses can no longer offer connoisseurs the best rugs woven during the “Second Golden Age of Persian Weaving,” ca. 1800 to ca. 1910. So limited is the availability of top-tier rugs from this period that Claremont is now developing a dedicated clientele in Asia and the Middle East, along with its longtime following in the Americas, Europe, and Australia. Recently, Winitz sat down with us to discuss how he continues to build on his success in a question-and-answer session. Founder and President of Claremont Rug Company
www.ceotodaymagazine.com 16 16 How do you describe your business and client base? We provide art-level 19th-century Oriental rugs that are both elite home furnishings and art investments to ultra-high-net-worth clients. We act as trusted advisers and spend a tremendous amount of time providing our clients with educational material and access to our knowledge to help guide their acquisitions. What are the most critical factors that have determined your success? As the years have passed, I have recognised that having a clear vision beyond transactional was something highly successful companies andCEOs share. At a fundamental level, I believe in hiring staff members with an affinity for beauty, a strong willingness to learn, and a general passion for life. In that sense, we are old-fashioned. Because our communication with clients is educational in nature, it is essential that we train our staff and create in them a passion for the art form we are representing. As time is a tremendously valuable commodity for our clientele, rather than have voicemail during business hours, every call is answered by a highly responsive staff member with a college degree and much experience with our product. We call this approach ‘Client First.’ Can you be more specific? The best 19th-centuryOriental rugs are rare and valuable works of art. The dilemma was how to communicate this initially, which evolved into how we could maintain (and expand) our inventory of the rugs. Early on, we cultivated an international network of buyers and developed ongoing relationships with our clients. The result is that we have unrivalled and continuing access to rugs that collectors desire and are only available through us. And we have clients and their families who have been with us for over four decades. While many galleries concentrate strictly on selling, I have always spent a considerable (and an increasing portion) of time seeking “inventory.” At the same time, we have invested heavily in technology and our website. Since the impact of COVID, we have flipped our business from 80% in-store and 20% online to 30% in-store and 70% online. In 2022, as a result, we added significant new clients in Australia, Hong Kong, Italy, Malaysia, and Singapore. And interestingly, we have a growing client base in the Middle East from collectors and families where top-tier rugs are no longer available. Secondarily, we spend significant effort providing educational and historical information about rugs. Q w Q w Q Q Q Q Q THE CEO INTERVIEW
www.ceotodaymagazine.com 17 How has your success evolved? I hope this won’t sound immodest. I am gratified that we have helped many clients build extensive, important collections of rare rugs that are the equivalent of investment portfolios. We have numerous clients who have invested many millions in our antique rugs. These are folks who want to deal with a long-term trust adviser rather than someone simply who wishes to sell a product. For instance, our website is replete with educational materials we created that cannot be found elsewhere. In this way, we feel that we have been impactful in raising the recognition of the historical and artistic value of antique Oriental rugs among art collectors. Our success is based on fundamental principles that are all too often misapplied or disregarded by those who work with an elite clientele. Our approach has always been, as author Malcolm Gladwell describes, “the outlier.”The conventional approach in our industry to building business has, for the most part, been “transactional.” However, our success is very much promoted by our reputation. Our one location (Oakland, CA) is not situated in an arts/antiques enclave, nor do we participate in off-site events. Yet, we have sold more 19th-century and turn-of-the-20th-century art-level antique rugs annually than all the world’s leading auction houses combined for many years. We adhere to our principles because they work. We understand our market, we know our clients, and most of all, we are committed to helping clients acquire rugs that are both profoundly inspiring artworks and sound investments. As a result, I spend nearly as much time sourcing Q Jan David Winitz THE CEO INTERVIEW “At a fundamental level, I believe in hiring staff members with an affinity for beauty, a strong willingness to learn, and a general passion for life.”
THE CEO INTERVIEW rugs as I do selling them. Having spent my entire business career in this collecting niche, I am tremendously gratified to receive continual feedback from clients about how much they enjoy what they acquire from us. You have spoken of the rugs in your inventory. Can you provide a general description of what they are and why clients are attracted to them? The rugs are both rare art and precious tangible assets, valued in the $10,000 to more than $500,000 per piece range. Many clients start by buying rugs to furnish spaces in their homes, but they become more and more inspired by the incredible beauty and artistic virtue of their pieces and wish to surround themselves with them. Our clients come to recognise that there are precious few of these pieces available and that they are irreplaceable as investments and great art. What lessons have you learned and how do you think your success can be applied in the broader business world? Don’t hesitate to embrace old-school commonsense business practices while also adopting advanced technology as a means to gain industry leadership. In our case, we have a well-trained, extremely enthusiastic staff, many of whomhave been with us for two to four decades. Our client, JohnWarnock, then the CEO of Adobe Systems, guided us to build our first website in 1980, and we have redesigned it multiple times since then to continually update the user experience and the site’s SEO capabilities to reach an ever-widening audience. We have an ethos that our clients and staff embrace because it is genuine and heartfelt. I enjoy my work immensely; my staff members are hardworking and impassioned, and our clients deeply relate to what we provide them. All in all, Claremont Rug Company is a 43-year-long labour of love. Q Q Q
THE CEO INTERVIEW “Our approach has always been, as author Malcolm Gladwell describes, “the outlier.” The conventional approach in our industry to building business has, for the most part, been ‘transactional.’ However, our success is very much promoted by our reputation.” Jan David Winitz
www.ceotodaymagazine.com 20 THE CEO INTERVIEW Wound Healing Revolutionised Mike Nagel President and CEO, Vomaris Innovations, Inc.
21 Please introduce us to Vomaris. Vomaris Innovations, Inc. is a privately held company based in Tempe, Arizona; owned by Franklin Mountain Capital. Vomaris’s mission is to revolutionise infection control andwound healing through the delivery of microcell battery-powered electricity. Our patented V.Dox® Technology powers a full line of FDA-cleared products that is supported by a strong base of published scientific and clinical evidence. V.Dox Technology is the only platform of its kind in the global wound and incisional care markets. It is developed and manufactured in the US by Vomaris. The Vomaris management team is highly experienced in the medical device sector with nearly 100 years of combined medical device experience. Vomaris’s Board of Directors comprises senior leaders of Franklin Mountain Capital, which is a family office based in Scottsdale, Arizona. Tell us more about the revolutionary technology behind it. V.Dox® Technology embeds microcell batteries onto the surface of wound dressings. Upon activation by moisture, they wirelessly generate electricity that mimics the electrical activity skin naturally creates and uses to heal We speak with Mike Nagel, President and CEO of Vomaris Innovations, Inc., about his company and how it is revolutionising infection control and wound healing. Q Q
www.ceotodaymagazine.com 22 itself. This not only energizes cells across the entire wound surface, it also effectively kills bacteria. V.Dox Technology uses electricity to do its job whereas the current Standard Of Care (SOC), silver antimicrobial wound dressings, release a high volume of silver ions to do their job. As the only microcell battery-powered technology of its kind, Vomaris’s V.Dox Technology is uniquely poised to disrupt the current SOC, while seamlessly and cost-effectively integrating into existing clinical care protocols. In addition to a strong IP portfolio, we have a large body of published evidence (26 peer-reviewed publications), demonstrating the technology’s outstanding healing and antimicrobial impact. What are some of the sector’s key challenges? Effective wound management and healing is a universal problem that is costly, both economically and in terms of human suffering: - Over 1.5 million people suffer each year from surgical site infections in the US alone. - 6.7 million Americans have chronic wounds. - Importantly, close to 80% of non-healing and infected wounds involve a biofilm infection. When bacteria shelter themselves in a biofilm coating, it protects them from antibiotics and immune system attack, making them notoriously difficult to treat. In managing acute and chronic wounds, there are a couple significant challenges the industry’s standard of care has yet to overcome: the use of potentially cytotoxic levels of silver ions for antimicrobial impact, and the ability to prevent or disrupt biofilm infections – both of which V.Dox Technology effectively addresses. The advanced wound care segment of the global wound care market approximates $7 billion. And yet, the majority of currently available bandages and wound care dressings have been in use for nearly a century, with little to no innovation. We need to do better for our patients. And what about the opportunities? For years, the antimicrobial dressings in the market have used silver ion release to kill bacteria. Where competitive silver dressings fall short is that: they aren’t able to address biofilm without adding chemicals, and they have not demonstrated the ability to impact cell migration and re-epithelialization. V.Dox Technology delivers a combination of benefits that no competitive antimicrobial wound dressing can claim: 1. Using biomimicry, the microcell batteries generate electricity within the same physiologic range that wounded skin uses to drive healing (aka the ‘current of injury’). This supports the skin’s natural healing process and has been shown to accelerate the rate of cell migration and re-epithelialisation. 2. It is a broad-spectrum antimicrobial agent that has also demonstrated impact against antibiotic-resistant bacteria and biofilm to Q Q h Q h THE CEO INTERVIEW
www.ceotodaymagazine.com 23 dramatically reduce the risk of wound and surgical site infection. 3. It delivers this antimicrobial impact without the release of high-volume ionic silver. 4. It is priced on par with silver products. It is 510(k) cleared with broad indications for both prescription and over-thecounter uses. This affords us leverage to follow evolving market dynamics and expand into new sites of service and sales channels. We’re proud to have treated over one million wounds to-date, and are currently selling in 11 countries under the brand names Procellera® and JumpStart® Antimicrobial Wound Dressings, powered by V.Dox® Technology. In addition to a single-layer and composite dressings, Vomaris also has the OrthoEliteTM product line, with shapes and sizes dedicated to the unique needs of orthopaedic surgeons and their patients. New product development efforts are focused in four key areas where infection control and healing remain a significant challenge: Orthopedic Surgery, Sports Medicine and Trauma (with a licensing and distribution agreement with Arthrex, Inc.) burns, chronic wounds, and Hidradenitis Suppurativa (a chronic inflammatory skin condition). What are your biggest goals and aspirations for the future of Vomaris? It’s time to elevate the standard of care.We at Vomaris have the technology, scientific and clinical evidence, and financial strength from Franklin Mountain to enable us to make a significant difference for patients suffering from acute and chronic wounds. We believe the future of infection control and wound healing is electric. Email: mike.nagel@vomaris.com Q Q Q Mike Nagel “6.7million Americans have chronic wounds. ”
www.ceotodaymagazine.com 24 THE CEO INTERVIEW
25 Please introduce us to GEO-MIK Consultants Africa Ltd. What is the company’s history and mission? GEO-MIK is an integrated, innovative and multi-disciplinary development consultancy company based in Uganda. Started from Inside GEOMIK: The Story of Launching and Growing a Startup in Africa We speak with Moses Banduga, Executive Director of GEO-MIK, about growing up as an underprivileged child in Africa and launching a business there. Moses Banduga Executive Director of GEO-MIK
www.ceotodaymagazine.com 26 26 a garage, GEO-MIK has emerged as a fully-fledged innovative and integrated brand in Uganda with a competitive regional and international focus. The company specialises in geo-information services, remote sensing and earth observation, natural resource assessment, spatial planning, land degradation and productivity monitoring, ecosystem mapping, air born surveys, feasibility studies, baseline surveys and hazard risk assessment. Anchored by a five-year strategic plan, the company is focused on offering quality and cost-effective services while adapting to the changing technology and emerging complex and dynamic business needs of the 21st Century. GEO-MIKs mission is to appropriately and effectively deliver cutting-edge geo-information technology, land and spatial development solutions that meet the multiple goals and objectives of our clients inspired by our vision to become an international pillar and hub for geo-information technology, land and spatial development solutions in Africa. The history of GEO-MIK is the typical story of any small startup in Africa. The beginnings, initial operations and development stages were an uphill task for several reasons including access to capital and credit. I also needed to defeat a common stereotype - that you can never start and succeed with your idea or any business venture unless you are from a privileged family, supported by the government or have powerful connections. Later, I realised it is never essentially so. I needed to start anyhow. Along its growth path, the firm closed and reopened several times betweenOctober 2008 and 2009 until, January 2010 when it re-established at the “garage” in Namirembe, Kampala. Inspired by the vision, immediately, there was a need to document, incubate and innovate the initial business concepts, craft content, originate templates, scope service and product portfolios. After competitively securing the first, second and third government tenders in 2010, 2011 and 2012, things started to look up slowly. We moved operations to a more spacious office in 2013 and later in 2015 because there was a growing need to progressively upscale and restructure our operational capacity. Six years later, propelled by the quest to reinforce and consolidate effectively GEO-MIK’s growth and reposition our business for the regional and international agenda, it became necessary to relocate our office to the city of Entebbe, so we can be close to the Entebbe International Airport. This also demanded to upscale and add holistic value to the business - to evolve GEO-MIK from a firm to a limited liability company and to realign our product and service portfolios to the emerging domestic and foreign markets. For over a decade now, GEO-MIK has seen sustained domestic growth and has expanded its territorial footprint from project work to 15 countries in Africa, including Uganda, Comoros, Djibouti, Eritrea, Ethiopia, Madagascar, Kenya, Seychelles, Mauritius, Rwanda, Somalia, South Sudan, Sudan, Tanzania and Côte d’Ivoire. Tell us about your background and the key events that shaped you. Over 40 decades ago, my parents found their way from the original ancestral District of Arua, currently Maracha to the Southwestern District of Hoima, where I was born. Growing up as an underprivileged child to parents with no formal employment was bound to directly affect my early childhood opportunities, especially education and other necessities of life. Despite the currently existing free government education, at our time, the program was only rolled a year after our lot left primary school and so was with the free secondary education years later. This meant paying tuition to attain education at all levels. Enrolling in 1988, I trekked bare footed about 3 to 5km every day to a local nursery and primary school at Duhaga from where I completed THE CEO INTERVIEW
www.ceotodaymagazine.com 27 primary level in 1996 albeit the hardships. I progressed to secondary school the following year. My earlier fears of affording education started to manifest at this level as I was always in and out of class and at some point even dropped out due to lack of tuition. With no other option, I resorted to all sorts of work - casual labourer on construction sites, artisanal work, bricklaying and occasionally offering support at my mother’s business. After missing a whole term, I shifted schools when a sports scholarship opportunity showed up at Mandela Secondary School. It was a milestone and a relief to my parents. Aware of my underprivileged life, I always craved to deliver on the sports scholarship since it was also a pathway to further my education. I did everything on the pitch to safeguard it while working hard academically too. My efforts paid off, as I excelled with a Division I during the national final examination in 2000, securing the opportunity again and enrolling for advanced level in 2001 on an academic and sports scholarship. These two years were always eventful - the scholarship was competitive, and one needed to earn it. But my hard work was rewarded in the end - I was honoured as the overall best-performing prefect for that year. As if that was not enough, my results in the final year sitting of Advanced National Examinations were outstanding and I was recognised by a National Newspaper as one of the top students in the entire district of Hoima. This was so exciting to me! These successes paired with the fact that I was heading to Makerere University alone made me believe that I was done with poverty. But life at university was very challenging too - I had to become even more focused, resilient, industrious and ambitious as well. But I wasn’t going to give up. I graduated in 2007, excelling at the top of my cohort. Moses Banduga THE CEO INTERVIEW “I also needed to defeat a common stereotype - that you can never start and succeed with your idea or any business venture unless you are from a privileged family, supported by the government or have powerful connections.”
THE CEO INTERVIEW What inspired your motivation to venture into the World of entrepreneurship? The precarious events surrounding my upbringing naturally configured an entrepreneurial expedition in me. At a tender age, I had tried all sorts of incomegenerating endeavours. Although my mother had no formal education herself, she always encouraged us to study hard and also help at the small store she worked at. Raised as an underprivileged child, I had this passion within me to reverse the status quo for the better. This required a high level of commitment, discipline, focus, patience and dreaming big to make it out of the crowd. In January 2003, I enrolled in a short course and learned some entrepreneurial principles through the Youth IT and Entrepreneurship Development program at Duhaga Tele Center just a couple of months before starting university. After that, I read the Rich Dad Poor Dad book by Robert Kiyosaki and it really sparked off the “go-start gear”. I began to plan very clearly what I wanted for my career after campus. In my mind, it was clear that a job would not help me to achieve my ambition. The drive was seemingly too big, as I was visioning beyond Uganda. I just needed to start anyhow, but there were two major barriers. I had no startup capital and no work experience. I needed to find a job and between 2007 and 2010 I worked for other people. On 28 February 2008, however, I registered GEO-MIK. Along the journey, I realised that to shape and sustain the real world of entrepreneurship, at a personal level, it was essential to make bold tradeoffs and confront competitive career choices - continue my studies and give all of my time to the pursuit of my dream. Ultimately, I relinquished the latter and also called off early opportunities for postgraduate study multiple times. However, when I reflect on my journey today, I am “At a tender age, I had tried all sorts of incomegenerating endeavours. Although my mother had no formal education herself, she always encouraged us to study hard and also help at the small store she worked at.”
excited and motivated to see the growth of our work at the forefront of our industry and I don’t regret a single thing. What are the core values of GEO-MIK Consultants Africa Ltd? GEO-MIK has deeply ingrained principles that guide all company actions and activities and are a constant reminder for day-to-day operations. These are Innovativeness, Teamwork, Customer Service, Professionalism and Commitment. Tell us more about your clients and the market sectors you serve. We serve diverse markets ranging from environment, agriculture, mining and exploration, oil and gas, forestry, urban, rural and regional development, utility/ infrastructure, academia and research. Our clients fall into the following categories: Government and Intergovernmental Organisations, CSOs, Donors and Development Partners, Un Agencies, Regional and Continental Bodies, Private Sector, Academic and other Research Institutions and to these, we offer a range of specialsed services and products: • Remote Sensing (RS): Deploying specialised geospatial solutions, satellite image data analysis and processing. • Geographical Information System (GIS): Utilising information and spatial data obtained from a variety of sources for appropriate and diverse GIS solutions and applications. • Training, Research and Capacity Development: Offering GIS/RS training, research and capacity development. • Optical Satellite Imagery: Providing satellite data for commercial satellite sensors through partnerships, derivative products and making extensive use of the satellite data capabilities for a range of solutions and products. • Geospatial Tools for Agriculture: Providing geospatial and remote sensing data, solutions, products and insights into agriculture development and precision farming. • Spatial Development Planning: We conduct urban, rural, national and regional development planning, natural resource and resettlement action planning, infrastructure and utility planning, land use appraisal and sector policy analysis. What are some of the industry’s key challenges? For the past 10 years, the geoinformation (GI) industry and the market have experienced an upward trend towards the right trajectory both in Uganda and across the region. There are still existing gaps and barriers, though, despite numerous supporting efforts from governments to organise the industry through initial complementary policy interventions. The Geospatial Knowledge Infrastructure Index 2022, for example, also recognises that globally, National geospatial agencies face considerable challenges in meeting the evolving demands of the diverse user ecosystem, including refining large amounts of raw data, data maintenance, competition, funding, etc. Then, there are technical barriers such as the absence of relevant GI infrastructure (hardware, software, etc.), interoperability, the lack of coordination and classification schemes, information access, maintainability, communication, internet connectivity, lack of data on public sector users needs, status, trend and uptake and general lack of technical knowledge and capacities across the industry. THE CEO INTERVIEW
THE CEO INTERVIEW The buyer/user needs affordable and unincumbered access to reliable and accurate GI, which in most scenarios is not the case. Efforts are needed to facilitate the sharing of available GI, publicising the existence of data and making it easily accessible but also eliminating barriers related to access, utilisation and dissemination. Cultivating intersectoral coordination in different mandated agencies handling GI is important too. We see duplication of efforts as several institutions across the divide repetitively collect and build the same datasets and this does not reach user groups - especially those who are looking for the data in formats that are useable for decision-making with ease. In addition, with the fast-paced GI industry, customers are finding it hard to adapt to market shifts and cope with emerging GI tools and approaches as existing ones become obsolete. Every single day, new data is created and thus rendering older data inadequate for today’s decisions and solutions. While more opensource GI tools have emerged and are freely available on the internet, depending on the scale of work, issues of resolution and validity will have a bearing on derived products and services. And what about the opportunities? There is immense opportunity in policy and legislation that mainstreams technological innovation, integrates geoinformation and develops policy guidelines that recognise geoinformation as an important asset for national development. This is in line with the Geospatial Knowledge Infrastructure (GKI) Readiness Index - 2022 which advocates for different governments to create an integrated policy framework to ensure that their nations establish the environment for a digital economy and society that utilises location. It is essential to optimise and cultivate sustainable strategies and plans for the uptake of available and emerging GI and resources. For example, Uganda launched PearlAfrica Sat- 1 Satellite recently. How is the industry going to optimise the data resources to inform different decision-making processes? Therefore, we will need investment in the underlying physical and institutional infrastructure necessary for the enhancement of the technical capacities of staff and mandated institutions handling GI. I want to think that the private sector also could get organised to harness and optimise the existing and emerging opportunities in the industry because the private sector is a key strategic ally and driver of innovation and at the same time they produce data, consume or are end users themselves. The improvement and growing investment in ICT by the government cannot be underestimated across the region. Uganda has seen increased internet users growing to millions as well as internet penetration rates. This is good because data and internet access are critical components and enablers of effective GI utilisation and growth. In addition, the market and industry as a whole need to take advantage of the shift and digital transition across the industry to scale operational efficiency. Because the commercial GI and satellite industry has revolutionised the science of data acquisition and delivery to the end user and enabled access and utilisation of GI within the same platforms seamlessly and at affordable cost.
What does the East Africa Regional Integration mean to you and the industry as a whole? The establishment of the community through the East Africa Community (EAC) Treaty of 2000 was a huge opportunity for the industry and trade in the block generally. Although full integration is still not yet realised, when one looks at the four pillars of EAC regional integration and achievements so far generally, the spirit behind is to eliminate trade barriers and facilitate the growthof sectors and the industry. It relaxed restrictions on some key factors of production like labour movement within the region and for enterprises, this is significant in bridging the labour and capacity gaps as businesses can attract specialised skills which are non-existing or are not yet developed in the domestic markets. It also reduces the overall cost of labour as a factor of production and hence, boasts production and enterprise profit. In addition, the integration comes with expansion and opening of new markets within the region. The entry of South Sudan and the Democratic Republic of Congo in the block for example ultimately increased the market size significantly. Relatedly, it provides businesses with a convenient platform and environment for partnership and synergising on mutual areas of benefit in the industry and reaping other non-economic benefits. The integration is improving domestic market efficiency and enterprise competitiveness as the industry benefits from shared costs of public goods or common infrastructure projects like public transport, energy, and ICT infrastructure. What are your biggest goals for the future? The priority for the first 5 to 10 years is to focus on three strategic areas. The first is to deepen and consolidate GEO-MIK’s domestic and international competitiveness and establish our global footprint in the industry. Secondly, I’d like to motivate, empower, and uplift hundreds and thousands of Ugandan and African Youth startups through an Incubation, Entrepreneurship and Technological Innovation Program. The third is to scale up geoinformation technologies to improve Agriculture productivity in Africa and scale to other diverse sectors like oil and gas.
LEADERSHIP LESSSONS
LESSONS IN LEADERSHIP
“When seeking to understand their customers, CEOs also need to bemindful of succumbing to “linear bias.”
3 Unexpected Ways CEOs Can Do More to Address Sustainability in 2023 For much of the last five years sustainability has been a golden goose for CEOs. In the investment world sustainable funds - and the companies those funds invested in - outperformed their conventional peers. In the consumer sphere, customers flocked to sustainable brands and to climate protests with equal enthusiasm. And in talent wars, the most exceptional employees hopped jobs in search of firms that put purpose ahead of - or at least alongside – profit. However, in the past eighteen months the pendulum has swung. Sustainable investment funds - in part due to surging energy prices – underperformed, and sustainability became an unlikely political football. Meanwhile, some USRepublican lawmakers criticised woke ideology and sustainable investing. With increasingly vocal activists at the other extreme, the debate has appeared to become more polarised than balanced. Against this backdrop, CEOs face challenging choices. If they warmly embrace sustainability, they risk alienating a portion of their employees and customers. If they step away, the voices of dissent could be even louder. So, what are the unexpected ways CEOs can do more to address sustainability in 2023? James Purcell Author of Sustainable Investing in Practice
LESSONS IN LEADERSHIP anagewhereCEOs are frequentlydepictedas “always doing”, whether it’s 5am workouts or ambitious corporate restructurings, it takes a conscious effort to buck the trend, take the unexpected option, and to quietly “get on with it”. Creating win-wins Second, as I argue in my new book Sustainable Investing in Practice, the creation of “win-wins” does more to advance sustainability than the majority of ideological initiatives. Because most people are selfinterested (to a greater or lesser degree), identifying opportunities that benefit people, planet, and profit simultaneously nearly always generate greater support than those that lack a commercial edge. Get on with it The first unexpected option is to simply “get on with it”. If sustainability is part of your business strategy, simply keep doingwhat you are doing and tone down the most overt marketing components. While it’s tempting to show your organisation’s commitment to sustainability through public displays of support - much like the act of adding a rainbow to a corporate logo for Pride Month or assembling a diverse mix of employees for a photo shoot - these activities are often called out for “greenwashing” and “virtuesignalling.” By toning things down and focusing on what you are doing, rather than what you are saying, your sustainability strategy will likely become more authentic – even if your Instagram “likes” decline. In 36
LESSONS IN LEADERSHIP There are countless examples from the business world to inspire CEOs. Some of my favourites include Unilever’s refusal to supply generic soap to UNICEF but its willingness to donate large volumes of its best-selling Lifebuoy soap product. This not only generated incredible health and social benefits for impoverished communities but also cemented Lifebuoy as the go-to soap brand in emerging markets. Another, excellent “win-win” is the “right turn rule” implemented by logistics behemoth UPS. By only turning right (in countries with lefthand drive vehicles) UPS’s trucks rarely turn against the flow of traffic. This leads to faster delivery times, less engine idling, and, according to some estimates, savings equivalent to millions of litres of gasoline and hundreds of thousands of tons of carbon dioxide. UPS’s efforts highlight a broader opportunity – waste. Every CEO has a waste reduction opportunity, from electricity, to manufacturing by-products, to packaging. Cutting waste is inherently margin accretive and nearly always simultaneously positive for sustainability. In a politically polarized environment, looking for “win-wins” is an unexpected opportunity. What people say and do are different Thirdly, CEOs can seize an unexpected opportunity and be more nuanced in their understanding of customer attitudes to sustainability. Repeated consumer and investment studies find that large majorities of the population – particularly younger generations - are prepared to pay more for sustainable products or would like to invest sustainably. However, the follow-through of these altruistic declarations is often muted. Certain academic studies find that, when it comes to sustainable topics, the gap between those who “say” and “do” can be as large as three-fold. Understanding this nuance is a critical opportunity for CEOs. When seeking to understand their customers, CEOs also need to be mindful of succumbing to “linear bias.” For example, when reviewing consumer sustainability preference data, let’s say on a zeroto-five scale, it is tempting to think that “fives” are more likely to act sustainably then “fours” and that “fours” are proportionately more likely to buy than “threes.” The reality is consumer actual consumer behaviour is non-linear and purchasing choices are near identical, except in the “zero” and “five” extremes. With societal attitudes to sustainability polarising, understanding what your potential customers really think and – more importantly – what they will actually do, is essential if one is to design a successful sustainability strategy. In 2023, CEOs have an unexpected opportunity to out-think their competitors, by understanding the nuance of their customer views and planning accordingly. Unexpected opportunities include “getting on with” sustainable actions without the corresponding public grandstanding; ensuring that sustainable activities are grounded in solid business rationale to create “win-wins”; and fighting one’s own heuristics to correctly differentiate between what potential customers “say” and “do.” All of these will be required in 2023 if CEOs are to construct a successful business strategy that also addresses sustainability. James Purcell is the Group Head of Sustainable Frameworks at Credit Suisse and co-author of new book, Sustainable Investing in Practice (available to purchase now for £34.99, published by Kogan Page). 37
38 LESSONS IN LEADERSHIP
39 Marie has 30 years’ experience in technology, over twenty being within the finance industry. Across her career, Marie has worked for major international institutions, including Group CTO for Sanne Group prior to acquisition by Apex Group, at Coventry Building Society for over four years where she was Chief Information Officer, responsible for building a technology strategy and leading the transformation; and Capital One where she acted as Chief Engineer and was a member of the IT Leadership team. International Women’s Day: Equity for All Marie Measures Chief Digital Information Officer at Apex Group
40 LESSONS IN LEADERSHIP With International Women’s Day taking place on 8th March, much discussion and focus are turning to the progress (or otherwise) towards equity of opportunity and achievement for women working in the finance, technology and the corporate world more broadly. Of course, international celebrations and awareness-raising events such as International Women’s Day are important – shining a light on both successes and challenges, so that we can tackle inequalities head-on. But this year, it is evident that change isn’t happening fast enough, and we have a long way still to go. While certain industries have made significant progress, in recent decades, others are lagging behind. In finance, for example, research from Deloitte found that globally, within the financial services sector, the proportion of women in leadership roles within financial services firms has risen to 24%. Far from parity, but this is projected to grow to 28% by 2030, ensuring that future generations of women in the workforce are given the opportunities they deserve to exceed and to lead. However, in my wider career experience, beyond finance, in other industries the news is not so positive. The tech sector for example is still far too dominated by white, middle-aged men. So, in many ways, finance is leading the way and showing that an attitude shift towards diversity in all its guises, is out of reach. Here, I share some of my advice and experiences on how ambitious female leaders in finance and technology can help to achieve their full potential. Ensure you are properly equipped Many of us have facilitated or been on the receiving end of an annual performance review in recent months. I often recommend that women conduct their own performance review of themselves – focusing primarily on the positive attributes and behaviours that you have brought to your role and identify how you can further enhance and develop these skills to benefit your career and business in the coming months. For example, if even an amateur a tennis player has an unreliable backhand, of course, they will drill and practice to improve on this perceived weakness – but not at the cost of neglecting their point-winning serves. Early in my career, my experience as a middle child with two brothers, meant that a childhood of negotiating has made me a natural diplomat in the workplace. More recently, as a working mother, I’ve learnt how to multi-task and produce high-quality work under time pressure. Such life experiences have created ready-made strengths and skillsets for me to deploy in the workplace, rather than wasting hours in training sessions trying to correct my healthy disinterest in small details! Apex Group is supporting our high-performing talent, helping them to enhance their strengths through our Women’s Accelerator Program, a development initiative designed to drive equity for female progression and diversity at all levels within the Group. By providing program members with new tools and skills to advance professionally and reach their full potential – the goal is to elevate the already high-performing female talent we have in our business. Representationmatters I have worked across multiple industries, and in One of the best ways to redress the gender imbalance that still exists in the corporate world is by having more, visible female leadership – “you have to see it, to be it.” “
41 LESSONS IN LEADERSHIP some, it was often very obvious that I was in a small minority as a female – and more often than not the only woman in the room. During my time as a consultant, I arrived at an officewith two juniormale colleagues, only for the customer to assume I was the team apprentice! These types of misconceptions were not uncommon in tech at the time. However, moving into financial services, there were more senior female role models, and that helped me to rethink my value to the firm. This demonstrates that one of the best ways to redress the gender imbalance that still exists in the corporate world is by having more, visible female leadership – “you have to see it, to be it”. Deloitte’s research shows that for every woman added to the C-suite in an organization, three women rise to senior leadership roles. Known as the multiplier effect, this phenomenon is one of the most important reasons why financial services firms should bolster efforts to achieve gender equity. Apex Group’s Shadow ExCo initiative was designed to achieve this - a new team of leaders from around the world that were given the experience of being involved in C-suite discussions and business strategies. Theybrought diversity into everydecision and represented a diverse set of future senior leaders, able to bring different perspectives, challenge the status quo and demonstrate how diversity can help improve business decisions and drive innovation. As a result, two women were promoted to join our Executive Committee. (Wo)mentoring Seeing the change is one thing, but women often need more hands-on help to assist them in their climb the career ladder. Women at the start of their careers need to hear from those who are further along on their career journey. For me, it was a female mentor at the time that I made the jump from senior management to a leadership role, which had an outsized impact on where my career went next. This is why, as a senior leader, I’ve been disciplined about devoting my time to working with schoolage girls to explain the benefits of having a career in technology, improve financial literacy and show them the multiple routes to entry in the financial and tech industries. It’s vital that we do not pull up the ladder behind us – and instead pass on our learnings to the next generation to show them that there is a place for women in our industries. Equity for all Further, it is important that women in leadership positions give back by acting as allies to other groups whose ethnicity, age or sexual orientation may create challenges in their careers. One of the key strengths of the team I have recruited at Apex Group is the diversity of thought and perspective offered by individuals with different life experiences and outlooks. What next? The global pandemic has disproportionately impacted women in the workforce, but I remain cautiously optimistic about the direction of travel for the next generation of female leaders in financial services and technology. To regain traction and improve gender equity, now is the time for both individuals and businesses to commit to driving positive change. Seeing the change is one thing, but women often need more hands-on help to assist them in their climb the career ladder.” “
NAPOLEON Didn’t Micromanage, Why are You? Prominent French Military Commander and Political Leader Napoleon Bonaparte developed a unique leadership style which is still used and taught today – it is calledMission Command. It isn’t just used in the military anymore – but in business too. In essence, Mission Command gives teams the freedom to think for themselves and make their own decisions – so long as it will help achieve the overall mission goal. Neil Jurd OBE, Leader Connect
LESSONS IN LEADERSHIP The concept originated from a study by Carl Von Clausewitz into Napoleon’s defeat of the Prussian Army early in the 19th Century. The defeated Prussian Army was highly controlled, bureaucratic and status conscious. There was very tight discipline and officers were expected to follow orders. On the other hand, Napoleon focussed on inspiring his soldiers and empowering his leaders. He actively encouraged his officers to understand the big picture and to make decisions in battle without checking with him. Napoleon’s leadership style was the essence ofwhat is nowcalledMission Command. Mission Command worked for Napoleon right up to Moscow and, more usefully for the reader, I have seen it successfully applied in a range of organisations including businesses, schools, universities, and charities. It allows leaders to harness the enthusiasm and talent of others. It is energising and empowering, allows speedy decision-making, and helps people to prioritise and to focus on the important work. Mission Command is largely about culture: it insists on certain positive ways of working, and all activity is focussed on a clear and robust aim.
RkJQdWJsaXNoZXIy Mjk3Mzkz