Inspiring Business Personality to Watch in 2024

Oct, 2024 How Established Companies Right Champion of Projects can Streamline their Internal Processes? Inspiring Business Personality to Watch in 2024 Ways of Changing Paradigms True Innovation with Risk with the Risk-taking Decisions Nicholas K Quest, Founder and Leader NBK PREMIER SOLUTIONS LTD, LEGACY PEARLS AFRICA LTD

Inspiring Business Personality to Watch in 2024

dreams through resources channeled toward skill development and innovation hubs. ditor's All the businesses owned by Nicholas are an epitome of his passion for responsible and sustainable business operations. He believes corporate success should not only focus on profits but also consider the benefits to the public and the environment. All his enterprises are guided by sound ethical principles, and he has been a fervent advocate for sustainable business and environmentally friendly business practice within industries. His businesses also call for inclusiveness, creating equal opportunities for women and the marginalized in sharing benefits from Africa's economic development. Diversity within Nicholas's organizations allows him to set up a culture of an inclusive workplace with diverse perceptions, bringing together a lively and innovative business environment. P e r s p e c t i v e Nicholas has that pioneering spirit and has shown the drive for something better in business. Well, as Enterprise Review’s ‘Inspiring Business Personality to Watch in 2024,’ he typifies new trends of African entrepreneurship who base their practice on such ideals as integrity, innovativeness, and concern for social good. His is a testament of what visionary thinking can mean; his accomplishments remind of how deep and lasting that can be for one alone. A Testament of Africa's Next-Gen Business Leadership Prowess N icholas Katushabe. Quest is the founder of NBK Premier Solutions Ltd, Legacy Pearls Africa Ltd, and many others. He is becoming the most inspiring business personality to keep an eye on. His rise is a testament to visionary entrepreneur growth in Africa, characterized by innovative solutions, community empowerment, and sustainable growth. Nicholas, therefore, has shown a higher sense of ability to determine what the market needs and turning them into successful ventures not only for his clients but also his communities. Today, Nicholas stands out as a beacon of possibility and progress for Africa's next generation of entrepreneurs. With his track record of success, dedication to empowering others, and commitment to sustainability, Nicholas Katushabe. Quest's influence is bound to shape not only the future of his companies but also the broader business landscape in Africa and beyond. Gaurav PR Wankhade A higher sense of vision for empowering others is at the core of the success of Nicholas. As founder of NBK Premier Solutions Ltd, he provides not only strategic consultancy but rather leads the front to discover innovative solutions for organizations, helping them scale and be sustainable in this rapidly evolving market. He clearly views the tremendous growth happening with Africa's entrepreneurial boom as an opportunity, taking pride in the emphasis made that high-level consulting has come within reach for smaller enterprises, especially in neglected markets. He has been a transformative approach in enabling countless clients to realize their potential. Nicholas is more than just a business consultant. Through Legacy Pearls Africa Ltd, he nurtures talent, builds sustainable projects, and offers employment throughout the entire African continent. This passion to lift communities from the inside out and for sustainable economic growth reveals his deep-rooted conviction in the power of community-centered development. He has enabled several young entrepreneurs and future business leaders to successfully pursue their

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FEATURING Elevating Key Systems for Elevating Key Systems for Humanity's Extraordinariness and Productivity Humanity's Extraordinariness and Productivity Nicholas K Quest, Founder and Leader NBK PREMIER SOLUTIONS LTD, LEGACY PEARLS AFRICA LTD

Inspiring Business Personality to Watch in 2024 P especially in professional ventures. Few stories resonate as powerfully as that of Nicholas. His story—originating from a childhood shaped by adversity—epitomizes resilience and the transformative power of self-belief and entrepreneurship. With unwavering determination, he continues to shape a transforming future for individuals, organizations, and communities alike, embodying the essence of possibility and purpose in every endeavour he undertakes. Driven by a profound mission to enhance systems for humanity’s extraordinary potential and productivity, Nicholas dared to dream of a world where imagination, dreams and hard work meets realisation. Meet the business personality to watch in 2024, Nicholas Katushabe. Quest, (Commonly referred to asM’ster Quest) from Uganda. Nicholas is the visionary Founder of NBK PREMIER SOLUTIONS LTD & LEGACY PEARLS AFRICA LTD, and other business enterprises. As a consultant, he has Co-founded and helped in structuring of dozens of high impact enterprises and supported as well dozens of huge core investments in East Africa. With a wealth of experience in diverse industries, Nicholas has established himself as a prominent figure known for his simple and innovative approach to business and investment development. eople will believe in you and your success if you believe in it first. Self-belief is the key to success in all your personal and professional endeavours, thousands of employees and consulted and spoken at over 78 organizations, groups, and institutions across Africa and the Middle East. The Mission Under his guidance, NBK PREMIER SOLUTIONS LTD has developed a reputation for its ability to tackle complex challenges and create value for its partners and the firm has become a key player in providing comprehensive business solutions in East Africa. As a result of his determination, NBK has won multiple awards including MEA markets Business awards as Best Business and Investment Consulting firm – East Africa for 2 years in a row (2021 and 2022.) In addition to his role at NBK PREMIER SOLUTIONS LTD, Nicholas is also the founder of Legacy Pearls Africa LTD, Uganda’s Publishing and Training Firm. Legacy Pearls Africa LTD has also created lasting impact in the region over the years, by publishing books and media programs, organizing events and bringing communities together for capacity development. Nicholas believes in fostering partnerships that bring together diverse perspectives and skill sets, enabling the creation of unique solutions tailored to client needs. This philosophy has been instrumental in driving the success of both NBK PREMIER SOLUTIONS LTD and Legacy Pearls Africa LTD. Nicholas’ unwavering commitment to excellence recently earned him the prestigious title of, FOUNDER OF THE YEAR – EAST AFRICA 2024 - OVER 30- category at the prestigious FOYA AWARDS in East Africa for his great work supporting SMEs in East Africa. In short, Nicholas is on a mission: “Elevating key systems for humanity's extraordinariness and productivity.” From economic-social issues, citizenry and human transcendence, he radically creates strategies, publishes books and programs, and initiates projects, concepts and ventures that elevate key systems for shaping humanity’s future, productivity and outstanding corporate and individual legacies. With a transcendent approach, Nicholas identifies opportunities from the crowd and proactively puts them forward into ideas and solutions for people, organizations, and projects. He is also the Winner of TCK Readers' Choice Awards 2020 and 2022, Best Advice Books, Nicholas has authored and co-authored nine books and 23 publications. A creative consultant and dynamic entrepreneur, Nicholas has trained To me, the word selling (in USP) sounds like a brag; I prefer calling it a UVP, a The Journey Unique Value Proposition. Nicholas' journey is one marked by an unwavering determination to succeed. As he recounts, "Life dealt with me from birth, and it gave me a different outlook." His foray into the world of business and consultancy began with a simple necessity: survival. Born into poverty and domestic violence in South Western Uganda, he faced immense

I was fascinated by create my entrepreneurial I could help innovative passion led me to the mission of the inner workings opportunities for experience and individuals and solutions and establish NBK empowering of businesses and both owners and accumulated organizations strategic Premier Solutions businesses and their potential to communities. With expertise, I realized thrive through management. This Ltd in 2016 with investors.

business and investment. When asked about any particular guiding philosophy driving him and his team, Nicholas says, “Quite simple. In addition to our expertise in the industry, we invest much in research and analysis (data, analysis, and insights) of various industries and areas of business and trends that are extraordinary for profit and impact.” They also stand for values and a truly unrivalled mission: Integrity, transparency, collaboration, pursuit of excellence, accountability and passion. Their main objec- tive is to provide a leading strategic approach and review of business ideas, plans, operations, visions and activities to implement growth opportunities and restructure needs based on reason, market surge and capability trends. The Shine The industrial landscape is continually evolving. When asked to share their USPs, Nicholas says that before he would share anything, he wants to shed light on the word USP. “Because to me, selling sounds like a brag.” He prefers calling it a UVP, a Unique Value Proposition. “In most cases, entrepreneurs and professionals start explaining their unique services and the way they do business and call it USP. Like, Boy/Girl, look here, you are not uniquely helping a client; you are bragging,To us, our UVP is about going beyond proclaimed unique services towards a deep understanding of client value creation. We don’t show how Unique we are (inside view) but what we put on the table (Value). Everything we propose and position is problem-resolution-focused and never self- promoting! But to sum it up, the following are our USPs (As you prefer to call them), among others.” challenges from a young age. "Precisely, I was living by grace at age three and had a part-time night residence in the bushes since some nights I would be denied home shelter," he recalls. Later in life, Nicholas developed a genuine passion for entrepreneurship and a desire to make a positive impact. “I was fascinated by the inner workings of businesses and their potential to create opportunities for both owners and communities. With my entrepreneurial experience and accumulated expertise, I realized I could help individuals and organizations thrive through innovative solutions and strategic management. This passion led me to establish NBK Premier Solutions Ltd in 2016 with the mission of empowering businesses and investors” - He recalls. At the tender age of eight, Nicholas declared himself a defiant-outcast, recognizing that his only path to survival was through entrepreneurship. He began selling fruits in a village facing numerous obstacles but persevering nonethe- less. Between the ages of eight and twenty-one, he became a seasoned entrepreneur, launching several small businesses, many of which failed due to poor investment decisions. In addition to our expertise in the industries and areas of business ~Innovation and Simplification of Complex Data and Ideas – Gone are the days of traditional complex legal, accounting and what-have-your strategies. Nicholas adds that their services are about helping business people and investors to be in progress mode, and this comes with building simplified yet powerful strategies. They break down complex ideas, data, and analytics into strategies that anyone can easily grasp and adopt. Whether regulatory or operational or otherwise, they innovate and drive simplification of everything, making agility and productivity free- flow, which makes profit and impact quickly realized. “It’s a very powerful USP. It’s hinged in all we do.” Driven by a desire to address the challenges faced by aspiring entrepreneurs in Africa, Nicholas' work as a consultant, author, and entrepreneur empowers business people and investors to identify opportunities and transform them into impactful solutions. As he reflects, "Witnessing the challenges faced by many aspiring entrepreneurs in Africa, my work as a consultant, author, and entrepreneur helps business people and investors to identify opportunities and transform them into impactful solutions.” industry, we invest much into and trends that are extraordinary Research and Analysis (Data, for pro?it and impact. Analysis and Insights) of various The Rise NBK PREMIER SOLUTIONS LTD has emerged as East Africa's leading transformational consulting firm for

~Counter Intuitive Focus – Unlike other firms that focus on delivering a service/product or solution for profit, theirs is an inseparable dual focus, Profit and Impact, insists Nicholas. “It’s implanted in our strategy.” Profit helps them keep afloat with operations, and impact keeps them accountable to society and the customers they serve. “By implanting them in our society and through the system, we hit the holes with ease.” Our strategy is to integrate operational ef?iciency plans with a steadfast commitment to customer satisfaction. ~Agility to Technology and Social Adaption—Nicholas declares, “We are agile. We are always building vantage towers. We move fast to socio-economic trends and behaviours, which help us position to foster and survive any market surge.” This position also positions them to be ahead of client needs, hence making them respond proactively to every customer need rather than reactively after things have simmered low. positive impact on the world, or are they simply motivated by fleeting opportunities?” *Fun: Nicholas recognizes the importance of a positive and enjoyable work environment. "I need people we can have all the regular folk sh*t," he says. "We spend a significant portion of our lives at work, so it's important to choose colleagues whose company we enjoy. If we can't have fun together, it's a soul-sapping partnership.” A Leader's Secret: Building a Team of Integrity, Mission, Fun, and Brilliance "Nicholas' leadership style is remarkably straightforward and unconventional,” one of the close associates we asked commented. "It's both transformational and democratic, emphasizing the importance of empowering others.” *Brilliance and Dreams: Nicholas seeks out intelligent, creative, and driven individuals. "I don't want to be the naked emperor; you recall the adage?" he says. I want to be surrounded by people who will challenge me and inspire me. People who will look at me and say, Hey Emperor, you are naked. Work with people who are so critical and confident and have ambitious dreams for themselves and the world. Such people push us to strive for more.” "I focus on building my associates' capacities to think critically and creatively," Nicholas explains himself. By encouraging them to challenge the status quo and explore new possibilities, we can achieve both business goals and personal growth." He also emphasizes the value of open communication and collaboration: "I give them a chance to unleash their creative juices by enabling them to make suggestions and plans freely.” By focusing on these core principles, Nicholas has developed a leadership style that fosters a positive, productive, and innovative work environment. As he concludes, "Before I lead, who do I lead? I make them leadable by this approach, which in turn makes me a reputable leader in my ventures, deriving from the journeys covered.” However, for Nicholas, the foundation of effective leadership lies in selecting the right people. "It starts by identifying the qualities of individuals I can work with," he says. "These qualities, beyond their professional capabilities, must revolve around the following core principles.” The Equilibrium *Integrity: Nicholas values honesty, trustworthiness, and virtue. "I look for people who are whole and undivided in whatever they do," he explains. People with integrity are true to their goals and present themselves authentically. I work with individuals who possess these qualities or are willing to develop them.” The essence of future revolution lies in innovation, disruptions, and enhancing the end-user experience. When asked how he balances operational efficiency with customer satisfaction, Nicholas accepts, “Well, it's quite deep, but to me, I initiate both as interconnected pillars.” These practices, when sown deep in your strategy for the business, will help hit the balance with ease. They have worked for us magically over the years. “They allow any entrepreneur to *Mission: Nicholas believes that a shared mission is essential for a successful team. "Before choosing any associate, I ask: Are they driven by a desire to make a

*Data-Analysis-Based Decision Making: “Utilizing data analytics allows us to base our decisions on cardinal evidence rather than intuition. This analytical approach enables us to identify patterns and trends, making it easier to tailor our services to meet the specific needs of our clients and the markets they operate in.” keep ahead of the curve (Operations efficiency) and provide our customers with cutting-edge products and services (Customer satisfaction).” ~Customer-Centrism Approach: Customer centrism helps every business owner to gather effortless advantages that enhance operational strategies, ensuring alignment with the expectations of customers. *Learning Magnetism: Nicholas is an avid believer in continuous learning and development for life. By learning about emerging technologies and industry best practices, he says they ensure that their team is equipped to navigate and implement new tools and solutions effectively in a fast- paced, changing industry. Nicholas shares that they take the SPPs (Systems, Pro- cesses, and Policies) with radical keenness: They continu- ously assess and develop their systems, processes, and policies to ensure they enhance their operational efficiency without compromising on the quality of service (Customer satisfaction). The Testament ~Innovative Open Sourcing: “Our commitment to innovation drives us to explore new ways to enhance the user experience by offering open-sourcing operations,” he adds. “In open sourcing, we get the opportunity to get client feedback with ease and make our resources focused on the goal, and with that, we easily innovate in areas crucial to our success.” Nicholas, his enterprises, and their associated entities have achieved remarkable success. Sharing one transformative example showcasing their commitment to excellence and innovation, Nicholas cites Jitendra’s Story: Why?Because it is quite deep and unique. In summary, Nicholas says their strategy is to integrate operational efficiency plans with a steadfast commitment to customer satisfaction. By doing so, they not only enhance their service delivery but also create long-lasting relation- ships with their clients, ultimately driving sustainable growth and impact. In 2018, Jitendra had a life-threatening moment that grossly affected his manufacturing business. The impact had trickled down to affect his marriage, and his life had gone bonkers due to depression. From marketing and distribution to taxes, finance, and workforce, he had lost all the growth spark. He would have spent less and put out the fires that were scorching his life and business-butt, but he didn’t know what these fires were. “Why do I make this story unique?” asks Nicholas, and answers: The Digital Ethos Digitalization and technological advancements are crucial aspects of the modern industrial ecosystem. To integrate these elements into their businesses, Nicholas says they use a strategic approach: I want to be around naked. intelligent people who *Customer Value First: Most firms realize the need for tech and digital transformation and do all things necessary, focusing on their productivity, but in doing so, they forget one explicit goal: to deliver value for the customer. Every advancement in digitization and technology should amplify the benefits for end customers in addition to operational efficiencies. This is a powerful principle that every entrepreneur should adopt. will look at me and say, Hey, Emperor, you are

Get Mad. GET NAKED. Believe. The lofty dreams. Set realistic intentions, work isn’t glamorous, and without and pray bold prayers. Be Radical. Ensure staff and associates are driven to happiness and a sense of purpose. This comes from training, orientation and setting up employee considerate welfare and workplace productivity plans that are duo- focused (on them and the company goals). Physiologically, you have to make them feel valued. It doesn’t mean having fancy offices or big things, its phycological. • believing in the cause, you are headed to nowhere. Dare to dream • Ensure your leadership and style are positioned to influence, enable growth, and have less friction and tactical influence for the companies’ objectives. Focus on how the business operates: Systems, policies, processes, etc. • Jitendra employed over 180 people directly and indirectly. He wanted something to work. He had hired every single niche professional in vain. “When he was referred to us by a friend, we assured him of some rocket results because he was already nursing injuries,” recalls Nicholas. “With an analysis of his manufacturing business, we devised a few hacks, some alterations and systems set-up and realized the problem, at first, his problem was actually not knowing his business problems first, which is common with most entrepreneurs.” So, Nicholas and his team made Jitendra aware of what was burning him up, and they set up some systems, restructuring, strategic plans, policies, and processes. Nicholas shares, “Our team helped him recover to some bits of bliss in the 6th Month. Yeah, it took us that long because we were steadily focusing on a sustainable value and outcome.” Precisely, ensure that you have empowered workers under enabling leadership and that they are guided and governed by an enabling system, process, and policies. This will foster the workforce culture to greater profitable heights. The Challenge As a leader in Africa’s business development sector, he knows that facing challenges is inevitable. Nicholas shares that at the inception of NBK Premier Solutions in 2016, he had a 3-team human resource which he says he later fired and remained alone due to financial constraints that hit startups. “It was a time when the consultancy myth was at the hype. You had to be a lawyer or accountant or, name it all. There, you would be considered valid. At least in Uganda, it was not fancy to call yourself a business consultant and be believed in and later paid," he recalls. Jitendra was able to salvage a part of the manufacturing company that hadn’t been lost, saving 180 jobs. “This whole process was quite draining, full of dedication and reasoning beyond the ordinary, but we are glad Jitendra rose again,” says Nicholas. Indeed, that is the pursuit of excellence and patience for innovative approaches that work. Why? Many dubious people hid behind the title to fleece clients of their money without delivering any workable results. One risked their reputation by taking on the title. Nicholas explains, “Our unwavering persistence and focus on ditching the myth via delivering value made us cut our teeth as the go-to partner working with businesses and investors by helping them put together proper investment and management strategies.” The Team The workforce is the cornerstone of any successful organization. When asked how his companies foster a culture of growth, skill development, and empowerment among their employees, Nicholas says that in his quest for workable solutions, he designed something he self-named POS. “Precisely to me, every workforce enhancement plan should address Psychological, Organizational and Structural excellence,” he adds.

By leveraging and fostering changed the narrative. However, they also dealt with issues of low inflows, given that they had entered a new market. meaningful partnerships away from the traditional “We didn’t have all the financial strength admirable,” shares Nicholas. He sat with his team and encouraged them to leverage two things. “Sales will bring us some revenue, and SWAP service will help us build our systems and asset base with ease. A lot of service providers could offer a service but lacked the money to pay consultants to help them structure their businesses too, so if we needed chairs, we would approach furniture-making companies and ask them to make furniture for us in exchange for our services that helps them structure to attract contracts and high-end clients.” way of collaboration, we *Avoid Lethargy radically: In Africa, success comes with those who move fast to get things done. Lethargy will never make you outcompete and get over the odds. Build relentless energy every day. “Contact me, I will guide you on how,” appeals Nicholas. It is the same. “Build me a website or system, and I will help you structure your company into a dominant IT Service Provider,” he adds. They would look through the numbers and compare invoice values and then see what mandatory resource each can have to execute; then boom, they would swap. “You get the gist? So, by year two, we were thriving as if we had all the finances needed, and we had also built a client base that continued working with us.” The Glory As a multitalented personality—author, Consultant, Serial Entrepreneur, Actor, and Trainer—Nicholas says there are some crucial traits that are necessary for every inspiring business personality. There is basically a major capital challenge in Africa. “That we partly resolved. By leveraging and fostering meaningful partnerships away from the traditional way of collaboration, we changed the narrative,” smiles Nicholas. Sheer Grit: The ability to bounce back from failures and setbacks is critical. It’s a mental and emotional need for anyone. Hack your way possible and build resilience. “It is not inborn; we can train the mind and spirit to have that hard nut grit no one can rival surely. It is important.” lead and influence, it will never materialize beyond the confines of your brain to create impact and profit. consortium of select French and African businesses for opportunity sharing). The Message Businesses are a way for the African industry to accelerate its economic potential and capacity. Thus, Nicholas's advice to budding entrepreneurs aspiring to venture into the startup space is pragmatic. Continuous Learning: The best entrepreneurs are lifelong learners. Stay Curious. Keep Learning. For further assistance, feel free to visit Adaptability: Be open to new ideas and adaptable to change. This allows entrepreneurs to stay relevant and seize emerging opportunities. NBK PREMIER SOLUTIONS LTD, Uganda, East Africa, P.O Box 123891 Kampala- Uganda, 122, Spring Road, Krish Mall 3-L2, Bugolobi, Kampala. Tel: +256 704 597816 (CALL/WHATSAPP). Website: www.nbkpremier.com or Email: nbkpremiersolutions@gmail.com. Flying High *Don’t Doubt, be attractively Naked:You are Unique. The thought, idea or dream came to you because you were the perfect person to carry it in its divine timing. Don’t doubt. Doubt is a killer. The more you doubt that you can accomplish your dreams and goals, the more you manifest that result. So, Get Mad. GET NAKED. Believe. The work isn’t glamorous, and without believing in the cause, you are headed to nowhere. Dare to dream lofty dreams. Set realistic intentions, and pray bold prayers. Be Radical. Looking ahead, Nicholas divulges, “Our vision is quite precise, transforming our universe by building limitless capabilities for a better world through entrepreneurship, investment, advisory and humanity support.” Creativity and Critical Thinking: Innovative and critical thinking and the ability to approach problems from different angles can lead to unique solutions and ideas that set a business apart. You can also check the other websites: www.legacypearlsafrica.com, www.nicholaskquest.com. • Keeping an open eye on emerging markets and opportunities and seize them relentlessly. Setting up and launching theDASH Africa (www.thedashafrica.com). This will help African investors and SMEs find data, Analysis and Insights for Africa and the Middle East. Opening cross-border offices for our firm and collaboration with Afri-France Biz (and an upcoming Networking: Be communal, build a universe, create synergies, and Leverage. Effective networking can open doors to new opportunities, partnerships, and resources. • *Identify a Genuine Need, not an emotional need:Focus on solutions that address real challenges, not just ego- fattening ideas and plans. Conduct thorough market research to validate your idea, not just a meagre emotional obsession for show-off or ego-satisfaction. Lead and Influence: It doesn’t necessarily have to be Political. Just ensure you lead. Being able to inspire, guide, and drive a team toward a common goal is vital. Strong leadership fosters an environment where everyone can thrive. You may have the best idea or skill, but if you can’t •

How Established Companies can Streamline their Internal Processes? T firm. Internal streamlining is necessary to encourage innovation and agility. Project champions are factors that will ensure this happens. Champions can drive change, inspire teams, and lead initiatives toward the ultimate transformation of how a company functions. he challenge in such a fast-paced business environment is, therefore, to stay competitive while maneuvering within the internal complexities of the Internal processes consist of communication, project management, decision-making, and resource allocation. The large firms over time develop bureaucratic structures that bog down agility and responsiveness. Such deficient processes lead to wasted time and wasted costs and cause frustration for the employees, eventually affecting the customers. Streamlining processes require that such organizations seriously evaluate the current state of their operations. This involves giving emphasis to regions of bottlenecks, redundancy, and places of miscommunication. Employees at all levels are invaluable sources of information that can tell problems they may face and improvements they can envision. These pain points identified, an appropriate project champion is now sought after in order to lead the change. Right Champion of Projects 22 | www.enterprisereview.com Oct 2024 23 | www.enterprisereview.com Oct, 2024

The Role of a Project Champion Encourage Collaboration: Process streamlining usually involves several departments. The champion may establish cross-functional teams and an open way of communication to create a sense of collaboration. A project champion is the agent of change that institutes the drive and generates support for change among the different stakeholders. He or she requires a combination of leadership skills, strong communication abilities, and good knowledge of the culture and goals within the organization. The right champion can help serve as a bridge between the management and employees by motivating them and ensuring that everyone is well aligned to join the new change. 3. Clearly Defined Objectives: In project management, objectives need to have measurable outcomes. The champion needs to work with the various stakeholders to set and achieve achievable objectives that must meet the organization's vision. 4. Continuous Improvement: This is not a one-time optimization but requires continuous evolution to improve processes. Feedback loops should be instituted regularly to allow employees to share experiences and suggest further improvements. First and foremost, the champion to be selected from the organization is one that needs much consideration as required in the following factors: 1. Credibility: A champion should be someone who commands respect in the organization and is deemed reliable by peers. For obvious reasons, the credibility of the champion can contribute to buy-in in the team as well as other stakeholders. 5. Training Support: Employees must be given the required skills and knowledge to equip them for change. The champion has to urge training programs that empower teams to adapt to new processes and technologies. Conclusion: Aiding Champions to Win 2. Passion for Change: If the champion is passionate about changing processes, then it makes them more efficacious at asking others to do the same and will find it easier to get past resistant attitudes. Established companies can get their internal processes streamlined if it is possible to identify and empower the champions that are to be associated with the projects. A champion acts as the avatar of the change of an idea, signifies collaboration, and puts forth initiatives toward greater efficiency and innovation. 3. Interdepartmental Influenza: The best champions should move well between departments and talk to different teams really well. That helps break the silos and work together more effectively. By analyzing current processes, seizing opportunities with technology, inviting a culture of continuous improvement, and equipping the people, organizations can create an environment where internal processes are optimized for success. Today, in this marketplace, it is a perfect catalyst for meaningful change to allow the right champions to maintain the agility and competitiveness of organizations. 4. Problem-solving skills: The champion has to recognize problems and present solutions. The champion should be proactive in defeating problems and strategizing according to the situation. Strategies for Process Streamlining After the right champion is identified, a smooth end is finally implemented through the streamlining of internal processes that can be done using the following effective approaches: 1. Leveraging Technology: Helping automate tools such as project management software can make a project very effective in terms of efficiency. Technology evaluation and implementation to minimize manual labor and help workflow can be led by a champion. 24 | www.enterprisereview.com Oct 2024

Ways of with the Risk-taking A more often takes them across the borders of the status quo and into risk. Calculated risk-taking often puts them in the position of making paradigm shifts that change industries and open up new possibilities. This article explores the ways of how decisions to take risks can catalyze transformative innovation. gainst this backdrop of change and one step on top of another, innovation is crucial to people and organizations' success. However, true innovation Understanding the Role of Risk in Innovation Innovation is intrinsically risky. Most innovative ideas fail or get criticized often. Still, there are many examples throughout history of inventions emerging from bold and hazardous decisions. And one just needs to remember Thomas Edison's famous dictum: ‘I have not failed. I have merely succeeded in discovering 10,000 ways that will not work.’ Though his relentless search for a practical electric light bulb was full of disappointment, it changed our lives. Risk-taking is the core of innovation, for without this, no organization could explore and venture into uncharted territories. In business, this usually means investment in new technologies or novel product development, or entry into previously unexplored markets. Paradoxical as this may sound, the risks of potential failure certainly have to be outweighed by the rewards of success. with Risk 26 | www.enterprisereview.com Oct 2024 27 | www.enterprisereview.com Oct, 2024

Culture of Innovation For example, online retail companies such as Amazon heavily depend on data analytics in the quest to identify customer preferences and predict upcoming trends. Leveraging such an evidence-based approach allows Amazon, for example, to take calculated risks in expanding into new product lines and markets, thereby significantly increasing their chances of winning while decreasing their failure possibilities. To make an organization practice true innovation through risk, there needs to be a culture that allows for risk-taking. This begins with leadership. Not only should they tolerate failure but learn how to celebrate failures as moments of learning. Discussing openly failure and encouraging team members to share their respective experiences can de- mystify failure and turn the least hoped for around as a step toward future success. Conclusion: The Future of Innovation via Risk For instance, Google's ‘20% time’ practice has liberated employees to spend time in a week pursuing projects that do not necessarily relate to their exact job assignments. Success stories emanating from this policy include Gmail and AdSense. This is because the empowerment of employees implies that the corporate culture rewards risk- taking, hence its innovative solutions have shaped the various shifts in the technological paradigm. In other words, the only way innovation is truly driven is through paradigm shifts of decision risks. Organizations that encourage a culture of risk taking, are experimental, and data-driven stand a greater chance to succeed in today's fast-paced environment. The journey to innovation will be riddled with bumps, but the payoff will be high, and it will be toward breakthroughs that could redefine the boundaries of an industry and build up competitive advantage. In a word, innovation thrives on experimentation. Organizations are urged to think perfection oriented when it comes to testing and iterating instead of getting perfect. This requires creating a structured approach in experimentation, like prototypes, pilot programs, or MVPs. From there, ideas can be tested by focusing on a small scale of the audience, gathering feedback, and refining one's concepts before taking them to full-scale launch. Ultimately, it's about risk taking as the willingness to embrace the possibility of making something historic and groundbreaking rather than risking failure or accepting it. Let's therefore keep encouraging this kind of risk-taking into being essential to innovation, providing ways to profoundly improve the ideas that will further characterize the next epoch of human progress. For instance, an iterative approach involving rapid prototyping and testing toward gaining quick validation of ideas from the customers is common in startup ventures. This helps entrepreneurs quickly test their ideas without necessarily risking significant investments in concepts that have not yet been tested in the market. This experimentation facilitates an agile culture by which the organizations can pivot when needed and take advantage of emerging opportunities. Using Data for Informed Decisions Risk taking does not involve arbitrary decision making; it is rather making decisions using information. Organizations today are endowed with reams and reams of information that can guide their endeavors towards risk taking in this information-driven world. Analyses of market trends, behaviors, and varied competitive landscapes provide the basis for informed decisions, coupled with considerations of levels of risk. 28 | www.enterprisereview.com Oct 2024

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Inspiring Business Personality to Watch in 2024

Inspiring Business Personality to Watch in 2024

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