New technologies are designed to remodel existing markets & industries - and maybe create new niche markets, not necessarily to destroy them. If managed constructively could generate revenue also.
Government and policymakers ought to embrace them early, as against fighting them.
Government and policymakers ought to embrace them early, as against fighting them.
Like clockwork, I've seen repeatedly government of developing nations - with a few emerging markets, engage in a futile & defeat-bound battle with new global trends.
This sentimental attachment with the old always resulted to huge loss of revenue and manpower.
This sentimental attachment with the old always resulted to huge loss of revenue and manpower.
A classic example is Nigeria.
Port management, transport, healthcare, governance, security, etc just name it. This pattern is vivid.
Something about our education system doesn't place premium on lifelong learning and glocalisation.
Port management, transport, healthcare, governance, security, etc just name it. This pattern is vivid.
Something about our education system doesn't place premium on lifelong learning and glocalisation.
In my opinion, one key trait of a developing nation is lateness..
Lateness to spoting new (global) trends, accepting then aligning even when they do.
The strength of developed societies lie in their foresight. They have an opaque view of the future, but shift notwithstanding.
Lateness to spoting new (global) trends, accepting then aligning even when they do.
The strength of developed societies lie in their foresight. They have an opaque view of the future, but shift notwithstanding.
Proposed solution:
First, the government is not going to save us. They seem bereft of directions - or at least pretend to be for the past 5+ decades.
That said, the onus falls on industry leaders to chart a course in their space.
When leaders move, followers align.
First, the government is not going to save us. They seem bereft of directions - or at least pretend to be for the past 5+ decades.
That said, the onus falls on industry leaders to chart a course in their space.
When leaders move, followers align.
Let me drive this in a little.
I so love the Nigerian financial services & banking space. It's a classic example of my leader - followers hypothesis.
Also, it provides a level playing field for any of them to lead - but for how long? Symposium discussion.
I so love the Nigerian financial services & banking space. It's a classic example of my leader - followers hypothesis.
Also, it provides a level playing field for any of them to lead - but for how long? Symposium discussion.
Wema came with Alat and led that niche market, other followed.
GTB came with 737, led others followed.
UBA birthed Leo, led others followed.
Union Bank resurrected from the embers of being a pensioners bank to transformed nu-school, badass digital orishiri, others will follow.
GTB came with 737, led others followed.
UBA birthed Leo, led others followed.
Union Bank resurrected from the embers of being a pensioners bank to transformed nu-school, badass digital orishiri, others will follow.
My point is; capacity will always trump title and the world's greatest need is the manifestation of sons - in this case; VISIONARY LEADERS.
Leaders with a reality of the current state, yet has an eagle-eye vision on the future and more importantly the capacity to get there.
Leaders with a reality of the current state, yet has an eagle-eye vision on the future and more importantly the capacity to get there.
In conclusion, government, corporations & startups, do well to treat global & future trends (R&D) with preference, much more than maintaining status quo.
Spot the change, rework and adapt early, because eventually you still would!
Spot the change, rework and adapt early, because eventually you still would!
