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Experts want marketing leaders in Africa to pay close attention to strategic thinking if they want to maintain the competitive edge in today's very challenging business environment. This advice came at a free strategic training programme organised by ExperientialNG Academy for top marketing executives across West Africa.
The free training which was done digitally via zoom was part of ExperientialNG’s goal of providing world-class marketing training to help deepen workplace skills for firms looking to drive strategic advantages and growth through innovation, strategic thinking, top-notch research and practical commercial leadership across Africa.
Speaking on a topic entitled: 'Strategic Thinking for Marketing Leaders” CEO/Managing Partner, Tytron Group, Austin Ufomba who was the first speaker, disclosed that strategy is a plan of action designed to achieve a long-term goal.
According to him, it is the strategy that creates the vision and direction for everyone in the team to follow, It is quite vital he explained, for everyone within the team to have clear goals and the direction they are following. "Strategic thinking is an intentional and rational thought process that focuses on the analysis of critical factors and variables that will influence the long-term achievement of set goals," he explained. He also spoke on choices and the methods through which the strategy can be pursued, while stressing that how strategies are formed and how they are implemented are equally important.
Using UBER as a case study, he pointed out that, "UBER, the disruptive peer-to-peer ride-sharing service, has practically decimated the traditional taxicab industry in over 60 countries (and growing). Within ten years of launch, it has become the face of the On-demand Marketplace and inspiration of ‘Uber for X’ entrepreneurs."
He disclosed that, "UBER adopted a theory that, "transportation as reliable as running water, everywhere for everyone. They welcome people from all backgrounds who seek the opportunity to help build a future where everyone and everything can move independently.
On the lesson from UBER, he said; "strategic thinking works, but only as good as strategic execution; don’t give up on your bright idea, select a great team, find the right investment, create the perfect solution, select the right technology, build Global and Live Local, keep it simple – you can excel by doing ordinary things in an extraordinary way".
The second speaker, Stuart Hamilton, Head of International Trade, Scottish Chambers of Commerce spoke on: 'Practical Commercial Leadership', as he answered the questions; "why do companies Fail? He highlighted and analysed extensively those reasons. He listed poor management, complacency, resistance to change, lack of true leadership, employee disengagement as factors responsible for companies’ failure.