By Rukayat Moisemhe
Mr Hisham Ezz El Arab, Business Unit President, Sub-Saharan Africa at Mondelez International, says people remain the most critical element for successful business transformation across Africa.
Ezz El Arab made the assertion at the Lagos Business School (LBS) Leadership Dialogue, with the theme, “The 5Ps Business of Transformation”, on Tuesday in Lagos.
He said the “5Ps” — Purpose, People, Process, Plan and Progress — provided a roadmap for organisations seeking to transform and achieve sustainable growth.
According to him, while each of the five elements is important, investing in people remains central to unlocking Africa’s enormous economic and business potential.
“I will start by the people, the P of the people.
“Investing in our talent, creating the best environment and ecosystem for them to grow and thrive, and giving them opportunities is the only way to tap into the massive opportunity ahead of us,” he said.
He said Africa’s population presented enormous opportunities, especially in Sub-Saharan Africa, which has about 1.3 billion consumers across 49 countries.
He described the continent as a potential growth engine for the global economy, noting that its youthful population, aspirations and energy represents significant advantages.
“The world needs Africa because you won’t find another 1.3 billion consumers anywhere else. You won’t find another 1.3 billion people, with a young population, the aspiration to grow, and that massive energy,” he said.
He said businesses and governments must therefore create the right ecosystem to enable people to develop their capabilities and contribute meaningfully to economic growth.
Explaining the “5Ps” framework, Ezz El Arab said purpose addressed why an organisation needed to transform, while people focused on who needed to be involved and how they would be affected.
According to him, process covers the systems, workflows and behaviours to be changed, while plan outlines the roadmap to actualise an organisation’s vision.
He added that progress was about measuring and sustaining the changes achieved through the transformation process.
Ezz El Arab emphasised that having a good vision was not enough without a practical plan for its execution.
“It comes down to the plan. You can have great thinking and a great vision, but how does that vision become reality? It must have a plan,” he said.
Prof. Olayinka David-West, Dean, LBS, said the dialogue provided an opportunity for the exchange of knowledge and experience that ultimately contributed to the development of responsible leaders and strong businesses.
David-West was represented by Dr Uche Attoh, Member, Management Board, LBS.
David-West said businesses were operating in an environment defined by rapid technological change, evolving consumer expectations, economic uncertainty, new competitive pressures and increasingly complex markets.
“Transformation, therefore, is no longer something organisations undertake occasionally. It has become a continuing pillar of responsibility,” she said.
She said the “5Ps” provided an opportunity to move beyond the theory of transformation and examine what it took to transform organisations, make difficult choices, execute consistently and deliver sustainable results.
She added that LBS would continue to create opportunities for participants, alumni, executives and faculty to engage with leaders who had managed businesses and navigated real-world complexities.(NAN)
Edited by Folasade Adeniran