Connect with us

Businessuite News24

Leadership Is The Software Which Relies On A Vision, It Is People-Focused, Culture-Driven And Pivots On Trust- Price

Published

8 years ago

on

Introduction: Leadership Vs Management

I have always been fascinated by the concept of leadership – not management but leadership; because there is a difference.

 Stephen Covey, the American author most popularly known for his book, 7 Habits of Highly Effective People, said: “Management is efficiency in climbing the ladder of success; leadership determines whether the ladder is leaning against the right wall.”

 Colin Powell, former U.S. Secretary of State, said: “Leadership is the art of accomplishing more than the science of management says is possible”.

 And finally, Bill Owens, American politician and former Governor of Colorado said: “True leadership lies in guiding others to success. In ensuring that everyone is performing at their best, doing the work they are pledged to do and doing it well.”

To go a step further, let’s use the example of hardware and software – after all I am in the technology business!

For me, leadership is the software which relies on a vision, it is people-focused, culture-driven and pivots on trust.

On the other hand, management is the hardware inclusive of plans, strategies, processes and KPIs. And, although management is essential, it is reliant on leadership to achieve anything meaningful.
Ask yourself, what separates:
 Google from Yahoo
 Apple from Blackberry
 And, Richard Branson, CEO of the Virgin Group from Martin Winterkorn, former CEO of Volkswagen

I am certain that strong leadership would be the resounding response. Therefore, I believe we can safely conclude that the difference between the success and failure of any business is leadership.

Ladies and gentlemen, now more than ever, leading – and not simply managing – is needed.
We don’t need to look far to see that this is true.

 We exist in a business environment where competition is no longer limited to the man around the corner, but international companies and providers

 The customer base is more discerning, requiring increased convenience, shorter timelines in the provision of services and better value for money.

 We also have a front seat to see the unfolding of a dynamic political climate. Just have a look at the difference between the presidencies of Barack Obama and now, Donald Trump. Having just passed his six-month mark in office, The Trump presidency has been punctuated with scandals and the resignation of key officials, Sean Spicer being the most recent.

Colleagues, it is clear. We are living in a V.U.C.A. world.
A world that is Volatile. Uncertain. Complex. Ambiguous.

Surviving and thriving as a business leader in a VUCA world requires vision, sound judgement and adaptability.

Essentially, a leader that can Unlearn, Learn and Relearn.

Thomas Friedman, author of The World is Flat and noted New York Times Columnist said, “We are in a new world, using old tools”. Indeed, it can’t be business as usual because the rules of the business environment has changed. Consequently, to operate in this dispensation, we [as leaders] must adopt a new way of leading.

Colleagues, I believe that collaboration must be the foundation of leadership in these VUCA times. Leadership in this new dispensation, therefore, means:
 Inspiring others toward a challenging vision;
 Building consensus and commitment; and
 Introducing and managing change.

Let’s take a moment to address each of these fundamentals.

Inspiring Others toward a Challenging Vision

Ladies and gentlemen, inspiring others towards a challenging vision is often something that we, as business leaders, must do. Sure, we share our vision with investors, stakeholders and customers. However, the people that we need to inspire to make this vision a reality are our employees.

As we’re all aware, Elon Musk is the CEO of SpaceX – a company predicated on the use of rocket science, with the aim of colonising Mars. Between 2006 and 2009, the company created and manufactured Falcon 1, the first privately-developed liquid-fuel launch vehicle to go into orbit around the Earth.

However, on August 2, 2008, the flight of the Falcon 1 rocket failed as it propelled into space. It was a hard day. I am certain that staff were disillusioned… after all, they were being asked to do the impossible and had failed.

Dolly Singh, former head of talent acquisition for SpaceX, shared her account of the day with noted magazine, Business Insider. She said that Elon Musk, after the rocket failure, addressed the SpaceX staff as a matter of priority before addressing the media. He acknowledged that the flight did not get into outer space but they had achieved more than many others on this first attempt. He also encouraged his staff to hold fast to the vision that Falcon 1 represented, as he was not going to give up.

Dolly said that within moments, the energy of the room changed from despair to determination; people begun looking forward instead of looking back at past failures. The invigorated SpaceX team immediately got back to work and figured out what exactly went wrong in a matter of days. After a mere seven weeks, SpaceX had another Falcon 1 ready. It launched successfully on September 28, 2008 making it the first privately built rocket to achieve earth orbit.

Ladies and gentlemen, inspiring people towards a vision is not an activity that is done through one staff meeting or a friendly company email. It is about consistently engaging staff and helping them to see how important they are to achieving the company’s vision. This is critical in challenging times, when things are not going as planned.

Elon Musk could have chosen to address the media as a matter of priority after such a public failure. But, the act of going to his staff and speaking with them first showed his commitment to them. It highlighted that the staff at SpaceX were a team, and as their leader he knew that, in this moment, he needed to reassure them that he was proud of their hard work and wanted them to continue trudging ahead regardless of the setback.

The second fundamental mentioned was: Building Consensus and Commitment.

For the past six years, Google has held the #1 spot in Fortune Magazine’s Best Companies to Work For in the United States. We have all heard about the free gourmet food, haircuts, laundry services and even town hall meetings. Googlers, as they are called, do lots of work but report high levels of satisfaction and low levels of stress in their jobs.

What is of interest is that Google is a cutting edge firm that is marked by its innovativeness and willingness to try new things. There is a culture of discussing ideas and working together to attain consensus, engender commitment and achieve goals. Therefore, each member of staff is able to buy into the ethos of Google.

Ladies and gentlemen, staff engagement is nothing new. But today we must, like Google, ensure that our companies are values-driven and performance-lead. The culture of the organisation is the core that gives life to this philosophy.

o A strong culture must be based on people buying into the company’s vision and seeing their role as important to its achievement.
o A strong culture relies on leaders that focus on developing strengths and minimizing weaknesses among staff.
o A strong culture ensures that people are productive – regardless of whether the CEO is around.

Building consensus and commitment is something that requires people to trust their leaders, and their leaders to trust them. It means working as a team and not in silos.

In my view, this will have a ripple effect on the way in which we engage our clients, customers and shareholders.

The third fundamental mentioned was: Introducing and Managing Change.

Take your mind back to 1997 – Merlene Ottey placed 3rd in the 200metres race at the World Championships in Athens, Greece; Diana, Princess of Wales died in a car crash and Apple was on the brink of bankruptcy. 1997 was also the year that Steve Jobs, regained control of Apple to make the company one of the greatest comeback stories in business.

Steve Jobs had to preside over a period rife with change. As leader, he had to both introduce and manage this change.

o One of his first decisions was to cut costly projects and align with known-competitor, Microsoft, to strengthen the financial base.

o Next, he introduced the iMac, effectively re-inventing the ‘boring beige box” that represented computers at the time. This was a move which increased sales and brought the company back to profitability.

o In 2001, the iPod, iTunes and the Apple Store were born. Jobs did not ask his team to build a retail store so Apple could sell more products and increase its market share. Instead Jobs asked, “How can we reinvent the store?” The question forced his team to think outside of the entire category… not simply outside the box.

Ladies and gentlemen, Steven Jobs made the process of introducing change, a company-wide initiative that disrupted the market. As leaders, we must embrace this process and ensure that we are nimble and able to implement the changes needed to encourage success.

In 2002, when Jobs wanted Apple to forget about Mac OS 9 and move on to Mac OS X, he held a mock funeral for Mac OS 9 and even delivered a eulogy. It meant another big change that staff, consumers and investors had to trust would turn out well. It was the end of an era.

Conclusion
Let me take a few moments to share some tips that I utilise in these VUCA times.
1. The only mistake is the one that you don’t learn from
2. Lead by Example
3. Circumstances Change. Value Don’t
4. Focus on Solutions. Not Problems
5. Learn, Unlearn and Relearn
6. Learn to get out of the Way
7. What do you think?
8. Are you easy to do business with?
9. Great Players don’t win trophies; great teams win trophies
10. Be the leader that you want to follow

Ladies and gentlemen, taken independently, these elements are of great significance. However, when taken together they represent what leading and thriving in this VUCA world requires.

It can’t be business as usual. Therefore, we can’t be ordinary leaders… we must be exceptional.

I end as I began, highlighting the difference between leadership and management. In this instance, I leave you with the words of Jim Rohn, American author and motivational speaker: “The challenge of leadership is to be strong, but not rude; be kind, but not weak; be bold, but not a bully; be thoughtful, but not lazy; be humble, but not timid; be proud, but not arrogant; have humour, but without folly.”

Thank you.

The above was the text of  the Keynote Address given by
Mr. Stephen Price, Managing Director – Flow Jamaica at a PSOJ Breakfast Forum on July 25, 2017 at the Port Antonio Room, Jamaica Pegasus.

Related Topics:
Continue Reading

Businessuite News24

GCT Exemption Threshold for MSMEs Increased to JA$15 Million

Published

2 weeks ago

on

March 16, 2025

By

The Government of Jamaica has announced an increase in the General Consumption Tax (GCT) exemption threshold from $10 million to $15 million for micro, small and medium-sized enterprises (MSMEs).

Minister of Finance and the Public Service, Hon. Fayval Williams, in opening the 2025/26 Budget Debate in the House of Representatives on March 11, said the change is aimed at supporting the growth and development of small businesses.

Mrs. Williams said the latest figures from the Small Business Association of Jamaica (SBAJ) show that there are an estimated 422,000 registered small businesses in Jamaica, generating 80 per cent of the jobs in the Jamaican economy.

“This means 1,136,240 persons in our workforce are employed by MSMEs,” the Finance Minister noted.

In addition, the Minister said the Government has allocated $2 billion to support MSMEs.

“[The sum of] $2 billion is in the Budget for the Development Bank of Jamaica (DBJ) to allow them to continue to facilitate sustainable growth of start-ups and MSMEs, and to continue to support women-led initiatives, entrepreneurship training, including digital skills bootcamp,” she outlined.

The DBJ is a public body in the Ministry of Economic Growth and Job Creation that channels financing to MSMEs, as well as large projects, to facilitate economic growth and development.

“It will continue to pursue innovative means of mobilising funding and leveraging private-sector investment and expertise through its venture capital programme, as well as public-private partnerships and privatisation transactions,” Mrs. Williams said.

Continue Reading

Businessuite News24

JA$2 Billion in Support to Jamaican MSMES

“Small business owners have said to me that opening a bank account for their business is difficult. They feel there’s no difference between the requirements for them as MSMEs, as opposed to a very large institution,” she noted.

Published

2 weeks ago

on

March 16, 2025

By

The Development Bank of Jamaica (DBJ) has been allocated $2 billion in the 2025/26 Estimates of Expenditure to support funding to the micro, small and medium-sized enterprise (MSME) sector.

Minister of Finance and the Public Service, Hon. Fayval Williams, made the disclosure while delivering the opening presentation in the 2025/26 Budget Debate in the House of Representatives on Tuesday (March 11).

“It (the DBJ) will continue to pursue innovative means of mobilising funding and leveraging private-sector investment and expertise through its venture capital programme, as well as public-private partnerships and privatisation transactions,” she informed.

Mrs. Williams noted the Government’s commitment to the MSME sector, which includes an estimated 422,000 registered small businesses, generating 80 per cent of the jobs in the economy.

Approximately 1,136,240 persons are employed by MSMEs.

The Minister acknowledged that there are several issues facing the sector, including lack of equitable access to financing, high interest rates and cumbersome requirements for opening bank accounts.

“Small business owners have said to me that opening a bank account for their business is difficult. They feel there’s no difference between the requirements for them as MSMEs, as opposed to a very large institution,” she noted.

She pledged to work with Minister of Industry, Investment and Commerce, Senator the Hon. Aubyn Hill, to reduce the requirements for the entities to open bank accounts.

The Finance Minister noted, further, that Government will be increasing the General Consumption Tax (GCT) exemption for small businesses from $10 million to $15 million.

By: Donique Weston JIS

Continue Reading

Businessuite News24

Jamaica Open For High-Value Agricultural Investments – Minister Green

“Now is the time for high-value agricultural investment, right here in Jamaica. Things that we produce in Jamaica are sought after all over the world. As such, we do believe there are significant opportunities now in agro processing,” Mr. Green said.

Published

2 weeks ago

on

March 16, 2025

By

Jamaica is being touted as a prime destination for high-value agricultural investments.

Minister of Agriculture, Fisheries and Mining, Hon. Floyd Green, highlighted that the country is at a pivotal stage in its transformation, pointing out that the Ministry’s key objectives are to drive investment, expand trade, and strengthen food security.

“To achieve this objective, the nation must collaborate with its international partners,” he told members of the Diplomatic Corps on Wednesday (March 12).

Minister Green said Jamaica, having seen a declining debt-to-GDP ratio and myriad other positive economic outcomes in recent years, is well positioned to take advantage of global opportunities.

He was speaking during a Ministerial Briefing at the Ministry of Foreign Affairs and Foreign Trade in downtown Kingston, which formed part of activities marking Diplomatic Week 2025.

Mr. Green said while Jamaica currently benefits from several trade arrangements with its regional partners, the Government wants to expand the global footprint in trade and investment.

“What we want to see from my Ministry’s perspective [is] how we can leverage these arrangements to do much more. As such, we want to work with you (the diplomatic corps) to drive trade expansion, to reduce market barriers and to facilitate direct connections with importers and distributors so that we can expand our exports,” the Minister outlined.

He added that there are significant investment opportunities and win-win proposals for Jamaica and its partners.

“Now is the time for high-value agricultural investment, right here in Jamaica. Things that we produce in Jamaica are sought after all over the world. As such, we do believe there are significant opportunities now in agro processing,” Mr. Green said.

The Minister emphasised that one area now ripe for investments is orchard crop farming.

“We do have land available for investment in orchard crops. In fact, we’ve developed our first ever mango orchard, or mango agro park, where we invite private-sector investors to come in and establish 50-acre blocks of mango farms. That is going well. In fact, we’ve already established about 200 acres. We want to establish another 300 acres in this financial year,” the Minister outlined.

Mr. Green also touted opportunities in livestock farming and the dairy industry, noting that Jamaica is looking to leverage partnerships in this area.

“We want to facilitate greater bilateral discussions between you and your home countries with Jamaica’s agricultural sector around investment… around connecting investors with local projects that can accelerate economic growth,” he told the diplomats.

Mr. Green pointed out that Jamaica’s collaboration with its international partners has been instrumental in advancing the nation’s economic agenda.

By: Donique Weston, JIS

Photo: Yhomo Hutchinson

Continue Reading

Businessuite News24

Powering the Future: How Tech and Policy Are Driving Explosive Growth in Energy Storage, Renewables, and EVs

Published

4 weeks ago

on

March 5, 2025

By

The energy storage, renewable energy, and electric vehicle (EV) industries are experiencing significant growth, driven by technological advancements and policy support.

Energy Storage Sector

The global energy storage market is projected to expand from USD 416.02 billion in 2025 to USD 841.19 billion by 2033, reflecting a compound annual growth rate (CAGR) of 9.2% (Straits Research, 2024). This growth is primarily attributed to the increasing integration of renewable energy sources and the need for grid stability. In the United States, battery energy storage capacity is expected to nearly double by 2024, reaching over 30 gigawatts (U.S. Energy Information Administration, 2023).Mission-Critical Energy Storage Battery Pack Sector.

Mission-Critical Energy Storage Battery Pack Sector

The demand for mission-critical energy storage solutions is intensifying, particularly in sectors requiring an uninterrupted power supply, such as data centres and healthcare facilities. The U.S. battery energy storage system market is anticipated to witness a CAGR of 30.5% from 2024 to 2030, reaching USD 4.4 billion by 2030 (Grand View Research, 2023). This surge is driven by the need for reliable backup power and the integration of renewable energy sources into critical infrastructure.

Renewable Energy Industry

The renewable energy sector is undergoing rapid expansion. In 2024, the United States added 48.2 gigawatts of solar, wind, and battery storage capacity, a 47% increase from the previous year (The Guardian, 2025). Declining costs and supportive policies like the Inflation Reduction Act 2022 propel this growth. Globally, China has made significant strides, adding clean energy generation in the first half of 2024, equivalent to the entire electricity output of the United Kingdom for the previous year (The Guardian, 2024).

Electric Vehicle Industry

The EV market is expanding swiftly. In 2023, electric cars accounted for approximately 18% of all vehicles sold globally, up from 14% in 2022 (International Energy Agency, 2024). Projections indicate that by 2024, 25% of all new passenger car registrations will be electric, surpassing 17 million units in sales worldwide (GreenMatch, 2024). This trend is supported by technological advancements, increased consumer acceptance, and policy incentives to reduce carbon emissions. These industries are experiencing robust growth, driven by technological innovation, policy support, and a global shift towards sustainable energy solutions.

Extracted from Alexander Melville Chief Executive Officer Tropical Battery Company Limited (TROPICAL) – Interim Financial Statements For The First Quarter Ended December 31, 2024

Continue Reading

Businessuite Women

Corporate Movements: Margaret Campbell Appointed CEO of GKMS Group; Lee-Anne Bruce Named COO

Published

4 weeks ago

on

March 5, 2025

By

GraceKennedy Limited (GK) is pleased to announce leadership changes at GraceKennedy Money Services (GKMS) as part of its ongoing succession plan and strategic talent development and deployment.

Effective April 1, 2025, Margaret Campbell will assume the role of Chief Executive Officer (CEO) of the GKMS Group. Campbell, who has worked with GKMS for over 25 years, has served as its Chief Operating Officer (COO) since 2020. She joined GKMS in 1996 and has held several leadership roles during her tenure including, Financial Controller, Chief Financial Officer (CFO), and Country Manager for GKMS Jamaica. A Fellow Certified Chartered Accountant, Campbell also holds an MBA in Finance from the University of Manchester and serves on several GK subsidiary boards. She is also the current President of the Jamaica Money Remitters Association.

Frank James, Group CEO of GraceKennedy, expressed confidence in Campbell’s leadership, stating, “Margaret has demonstrated strong leadership and an unwavering commitment to providing exceptional value and convenience to our customers across Jamaica and the wider Caribbean, in keeping with our vision of being the number one Caribbean brand in the world. I have no doubt she will continue to drive GKMS forward.”

Grace Burnett, CEO of GKFG, added, “Margaret’s industry expertise and strategic approach make her the ideal person to lead GKMS into the future. Her experience and passion for operational excellence will be instrumental as GKFG continues to grow and evolve.” The announcement of Campbell’s appointment comes as Burnett, who has led GKMS since 2019, prepares to retire from GraceKennedy later this year.

Lee-Anne Bruce

Additionally, GraceKennedy has named Lee-Anne Bruce as the new COO of the GKMS Group, also effective April 1, 2025. Bruce holds a bachelor’s degree from the Frank G. Zarb School of Business at Hofstra University and is a Certified Anti-Money Laundering Specialist. With over a decade in senior leadership roles at GK, she has served as Group Chief Compliance Officer, Chief Risk Officer, and most recently, Chief Audit Executive. She began her career at GK in 2003, when she played a key role in GKMS’ expansion into the Eastern Caribbean.

Margaret Campbell, incoming GKMS CEO, welcomed Bruce’s appointment, stating, “Lee-Anne is no stranger to GKMS and her extensive experience and understanding of our business will undoubtedly be invaluable in her new role.”

In light of the leadership changes at GKMS, Judith Chung, Group Chief Compliance Officer & Senior Legal Counsel, will act as Chief Audit Executive of GraceKennedy Limited, while Jason Bailey, Head of Risk, will temporarily assume responsibility for the Compliance portfolio.

Continue Reading

Trending