The Institute of Banking and Financial Services of Uganda conducted an educative webinar on the contemporary topic of the use of Big Data, Business Intelligence, Artificial Intelligence in the Financial Services Sector. The event took place on 20th October 2020 from 12 pm to 2 pm. As one of the panellists, I shared insights on how to harness data as a strategic resource. I had prepared a presentation explaining the basics of data analysis and application to the banking sector, which I did not get an opportunity to present. To download the PPT, here. Below is an extract of the…
Business liquidation: why is it expensive to close business in Uganda?
When you are young, so many ideas are flying in your head and you see opportunities everywhere you turn. To take advantage of the envisaged opportunities, you open a business, book a company name and register, obtain a Tax Identification Number (TIN), get a KCCA trading license, and open for business feeling happy about formalizing the business. In these Coronavirus times, many businesses are struggling. Some leaders are taking the honorable decision to close the business to avoid accumulating further obligations and costs. Some business lines are just not good around these tough times. When the business owners decide to…
We need to treasure respect
Respect is a constructive attitude displayed towards someone held with high esteem because of admirable and valuable qualities. Respect ends up being a process of honouring someone openly. Some people earn the respect because of their personality and the role they play in the social arena. In several cultures, individuals are considered to be worthy of respect until they prove otherwise. Situations that show respect include simple phrases like ‘thank you’ ‘I am sorry’ ‘I beg your pardon’ ‘come again’. In some cultures, simple physical signs like bowing, a smile, joining the two hands are interpreted to mean respect.…
Align your MDA strategy to the National Development Plan 3
If you are a leader of any government institution, you must translate your strategic plan and annual budget priorities into results-oriented programs in line with approved NDP III for increased national impact and support of the government agenda. You must be and be seen to support national priorities. As the national competition for resource envelope allocation intensifies especially amidst the COVID-19 pandemic, you must urgently reassess your organizational strategy by aligning your programs to the NDP III. Unless your strategic areas are linked to the NDP III, you risk being allocated insufficient funds now and or in the future…
Using open-source intelligence for data analytics and competitive advantage
How do you use data as a strategic resource to gain a competitive advantage and see what many leaders cannot see? How do you make the most of your intellectual property – client transactional data collected over the lifetime of the business, including data in all internal systems to make informed decisions instead of making strategic moves based on hearsay and opinions of inner circle allies? In this 4th industrial revolution, data is the new oil. However, information – the processed data, is what makes the difference. You may have oil, but if you lack the leadership and technology required…
How the internal strategy office kills strategy execution
When you work as a consultant you gain exposure to so many companies and their internal practices. Many, if not all, of the things we see or come across, we keep quiet. Like Doctors, the stock in trade of consultants is confidentiality. Keeping one’s mouth shut and hands lazy from typing is the best source of reputation. But some practices are out of this world that you cannot just let them pass. After all, they cut across the industry and one would do a great difference by sharing lessons with other leaders using pseudonyms. That is what makes us…
