MBA Class Taught by Industry Icon Dr Julius Kipng’etich
Sep 9, 2016
By: Billy Atela
Recently, Dr Monica Kerretts – Makau’s MBA class were taught by an Industry icon Dr Julius Kipng’etich on Managing Change. Also present during the session was Dr Fred Ogola – MBA director.
Dr Kipng’etich begun by provoking the class into making comparisons of two striking scenarios: First was a comparison between Singapore and Kenya in 1963, showing that the per capita income of Kenya was higher than that of Singapore. About 50 years later, he highlighted the reversed scenario and largely so with Singapore’s per capita having a wide lead on the same metric of economic performance measurement. A second contrast was between Nigeria and Norway; they both reported to have discovered oil in 1954. However, about 60 years down the line, Nigeria reportedly could not account for $500 Billion worth of its oil resource. Norway on the other hand made milestone steps evidenced by a $ 1 trillion worth of sovereign wealth funds.
“Are we leaders tailored for a cut above the rest?”He quizzed the audience. Acknowledging that change can only occur upon the acceptance of a problem, he challenged the audience to perceive challenges as untapped opportunities which are triggers to achieving desired outcomes.
He underlined a number of destructive forces that must trigger change in order to keep corporations in healthy performance:
- Globalization – Corporations and the country’s governing body must be alert and aware of global trends and agendas which influence and shape the global community. He instanced Britain’s unwise exit from the EU.
- Technology – Institutions must be cognizant of the unprecedented rate at which technological advancements are changing the world. He took note of traditional business industries which got overtaken by technological advances, such as; the Printing Press, Kodak, Taxi transport businesses and Nokia overtaken by innovations such as digital technology, Uber and by Apple. Hardware and business premise server rooms are being replaced for cloud computing, with the “Internet of Things” changing how we think about business.
- Competition – Corporations exist in a world of incredible competition. Companies’ core advantages are increasingly growing obsolete, one they must at all time fight to ensure they remain relevant to the market they serve.
- Climate change –Mitigation of the negative influences of pollution to climate change is growing into a necessity. Sustainability of businesses will be greatly determined by their adherence to environment friendly practices.
- Inequality –Companies should hold the government to account on taxes and how income is redistributed.
Change in an era heavily dominated by disruptive technologies is rapidly becoming instinctive.
What are some of the attributes a leader should posses to effectively lead during the adjacent times of rapid industrial shifts?
- Strong leadership – people who stand for what they believe in.
- Visionaries – leaders with a strong sense of tomorrow who believe in people and want to make a difference in the world.
- Incredible management skills
- Brave and courageous – leaders need to take unimaginable risks which requires a character of bravery.
- Knowledge –purposeful learning must be a deliberate choice to build and to provide solutions to the society.
- Successful change agents are wise –know what to do when and how.