Lusaka Zambia -The 2023 ACCA Business Leaders Conference (BLC) will be hosted by ACCA Zambia community at Avani Hotel, Livingstone from the 7th – 8th June 2023.
Speaking in an interview recently held in Lusaka, Zambia, Janice Matwi Africa Lead – Employer Relationships & Zambia Country Head, stated that, the theme for the year 2023 conference is around trends shaping business strategy and the world of work.
In explaining the current trends shaping business strategy in Zambia, Mrs. Matwi said, “the pandemic demonstrated the importance of resilience and adaptability in the face of unforeseen challenges. This year, we choose to focus on 4 key areas that have the most impact, which are: the evolved role of leadership, digital transformation, the rise of big Data and the rise of environmental, social and governance”.
“We explore the role of leadership in directing change in business organizations as a crucial component to success. Leadership has evolved beyond transactional relationships and into an era of inclusive. We focus on how leaders can lead in a changed world of work that for the first time has four generations working together”. She explained.
Mrs. Matwi further said, “The pandemic highlighted the importance of digital technologies for business operations. Post pandemic, companies have increasingly embraced digital transformation, including remote collaboration tools, cloud computing, artificial intelligence, and automation. This trend is expected to continue as organizations optimize processes, enhance productivity, and improve resilience”.
With regards to the rise of big Data, businesses can gain valuable insights and make data-driven decisions. These insights can help in identifying market trends, customer preferences, operational inefficiencies, and other critical information that can drive business strategies and improve decision-making processes. This also enables businesses have a deeper understanding of their customer’s needs. Big data can also aid in risk management by identifying potential risks and enabling proactive measures to mitigate them.
The upcoming conference will showcase businesses that are incorporating sustainability into their strategies, including reducing carbon footprint, adopting renewable energy, and implementing ethical sourcing practices. Mrs. Matwi added.
In explaining trends shaping the future of work in the post-covid era, Mrs Matwi said, “it’s important to note that, the specific changes and trends can vary across industries, regions, and individual organizations. However, there some trends that arose and have remained valid. In some cases, remote work has become more normalised and widely accepted. Most employers have maintained hybrid work models, combining remote and in-person work”.
Additionally, digital transformation is no longer a future business ambition but has become a necessity for business should they want to remain relevant. As these trends arise, there is also a focus on employee well-being: The pandemic brought mental health and well-being to the forefront. Employers are recognising the need to support their employees’ well-being. The pandemic accelerated the demand for certain skills, such as digital literacy, adaptability, and remote collaboration.
As the future of work becomes more technology-driven, continuous upskilling and reskilling will be crucial to remain employable. Lifelong learning and training programs have begun to gain even more importance. A concept also catching on now is the gig economy and freelancing. The pandemic has accelerated the growth of the gig economy. Many people turned to freelancing and independent work due to job losses or a desire for more flexibility. This trend is expected to continue, with individuals seeking diverse income streams and organizations leveraging independent contractors for specialized skills.
In summing up, Mrs. Matwi regarded the role of leadership to direct change in business organizations as being crucial. She said, “Effective leadership is essential for guiding and facilitating the change process, inspiring employees, and ensuring the successful implementation of new initiatives. Our focal point in this year’s conference is how leaders can navigate the challenges that arise and remain constantly vigilant in scanning the horizon for constant opportunities and threats to the businesses they lead. Effective leadership is no longer about transactions but requires a leader to enhance their soft skills such as showing empathy, active listening, and providing support to help employees navigate transitions in the ever-changing world of work. Leaders are now expected to become champions for training, mentoring, and creating a safe space for open dialogue in the organizations they lead. These are the ingredients for managing changes in organizations. This is why ACCA is creating spaces for these important conversations to happen to effect change”.
