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…

  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…

“Hope is not a strategy.” Vince Lombardi A story is told of the man who was fond of going early morning to Church to pray for wealth. He made praying to God like an occupation. The first one in the Church, and the last to leave. He would go to Church, from Monday to Sunday. Prayer is not enough without action. And action is useless in the wrong direction. And the action in the right direction is not enough without hope, which comes from prayer. Study carefully the figures below: Which of the two players is likely to win at…

“Strategy is about making choices, trade-offs; it’s about deliberately choosing to be different.” Michael Porter Many leaders want to keep their options open. Because they want to avoid accountability. Keeping one’s options open is not prudent leadership, it is an indication of a lack of confidence in the decision-making processes. Keeping your options open means more resource commitment, trial and error, and limited focus. It is not easy to win when you do so many things at the same time. However, do not confuse choice with identifying a specific sector or business and going a mile deep into the business…

  Samuel Ssettumba (SS) sat down with Mustapha Bernabas Mugisa (MBM), aka Mr Strategy, the Team Leader at Summit Consulting Ltd to discuss how Small and Medium Enterprises can win through digitalization. To watch the video, click here: Below are the excerpts: SS: What does digitalization entail for an SME? MBM: To digitize entails using electronic business and electronic commerce and online tools to run the business. Digitization transforms your business to become more agile, nimble, and efficient. The starting point is to adopt digital records management and reduce time wasted in tracing up documents and invoices. The next phase…

  Does your board of directors add value or derail it? How do you measure the impact of your board on your business? In part 1, I listed the four practices that must be fostered among board members – open dissent, individual board member accountability, a climate of trust and candor, and four, timely board evaluations to assess the board and individual board members’ impact. In part 4, I explore the importance of board evaluation. Feedback is a powerful tool for performance improvement. Without timely feedback, expectations are diverse, and people (board members) may feel that their input is less…