How to develop leadership mindset for business transformation in a volatile economy – Belo-Olusoga

For some, transformational leadership is knowing how to encourage, inspire and motivate employees to perform in ways that create meaningful change.

For others, it could mean, encouraging and inspiring employees to innovate and develop new ways to grow and improve the path to a company’s future success. It could also mean stimulating team members intellectually.

Mosun Belo-Olusoga, lead consultant and CEO, Knowledge and Resource Centre Ltd, a service provider with specialty focus on credit training said beyond being a transformational leader, there is a need to be strategic, implement change aimed at improving efficiency, productivity and efficacy while driving growth during economic downturn.

Belo-Olusoga stated that business transformation is an umbrella term for making fundamental changes in how a business or organization runs.

This, she said, includes personnel, processes, and technology, adding that these transformations help organizations compete more effectively, become more efficient, or make a wholesale strategic pivot.

Speaking during her keynote presentation at the 40th Omolayole Management Lecture Series, themed ‘Developing A Game Changing Leader’s Mindset for Business Transformation in a VUCA World’, she said recent events and developments are forcing a paradigm shift, and leaders need to evolve to remain relevant in the future.

These, Belo-Olusoga said, will mandate future leaders to adjust their business models.

According to her, some features of this shift include a prospective shift to long term position and longevity, solidifying business future position with today’s action, accommodating community in strategy and planning process to increase social capital, Continuous development and relearning aligning with a rapidly changing marketplace.

Others she mentioned include the pursuit for unachievable perfection to drive growth, relaxation of prevalent rigid structure and transitioning to a more democratic structure; boosting creativity and development, review of the marketplace with aim of win-win mindset, collaborating with market players for collective gains and growth.

“The world has transitioned to a knowledge-based economy as intellectual assets valuation surpass tangible assets valuation,” Belo-Olusoga said.

According to her, leaders in business transformation should have a clearly articulated, well understood business strategy and are quick to focus and define the specific enterprise capabilities that will help achieve competitive advantage.

“Game-changing Leaders in business transformation articulate upfront the value they expect to achieve through transformation, and they zealously monitor, measure, and track value throughout their transformation. They should know that real value emerges over time, through sustainable change that endures.

“Leaders today should be prepared to continuously evolve through transformation—because the business and technology landscapes in which they operate are continuously evolving.”

Mallam Ahmed Ladan Gobir, the President and Chairman of the Governing Council, Chartered Institute of Personnel Management of Nigeria (CIPM) said over the years, the Omolayole Management Lecture Series has grown from a humble initiative to a beacon of knowledge and intellectual discourse, contributing significantly to the development of thought leadership in corporate governance, human resources, and national development.

“We celebrate four decades of insightful dialogue, visionary leadership, and a shared commitment to advancing management practices across Nigeria and beyond,” Gobir said.

He said the 40th edition exemplifies the strength and resilience of collaboration as they continue to create a platform where critical ideas are shared, and strategic solutions are explored, making a lasting impact on management practices.

“Collaboration has been central to the sustained success of this initiative. It is a reminder that in today’s fast-evolving business environment, no institution, no leader, and no industry can achieve greatness in isolation.

“As we celebrate this remarkable landmark, we must also look ahead. The world today is vastly different from what it was 40 years ago.

“Technology, globalisation, and shifting societal expectations are reshaping the way we do business and manage people. Leadership today requires agility, foresight, and an unyielding commitment to ethical principles. The leaders of tomorrow must not only be strategic decision-makers but also stewards of sustainable development,” he explained.

The Mutual Recognition of Membership which the institute recently launched is said to provide CIPM members with the opportunity to obtain reciprocal recognition of their membership status with CIPD, allowing them to access an extensive range of resources, networks and professional development opportunities offered by CIPD.

This collaboration further strengthens CIPM’s role as the apex regulatory body for human resource management in Nigeria, committed to empowering HR professionals through world-class knowledge, tools and connections.