Olatokun Toriola, MTN Nigeria’s chief executive officer (CEO), recently joined other top business executives and strategy experts, including Michael Raynor, the bestselling author and expert on strategy and innovation, and Jean-Michel Paul, the founder and chief executive, Acheron Capital, at the 13th edition of the Business Day CEO Forum, to discuss the need for companies to have an arsenal of strategic ideas to thrive in today’s business ecosystem.
The annual event, which has been hosted by BusinessDay since 2009, was designed to present business leaders with the unique opportunity to sharpen their strategic assumptions, future plans, tactical priorities and execution prowess.
This year’s edition, which focused on discussions around the theme, “Reboot: Regaining Strategic Flexibility in the Age of Uncertainty,” was organised to champion conversations around the need for organisations to be strategically prepared for potential disruptions within the global business landscape.
In his speech, Toriola emphasized the need for organisational culture to be developed in order to drive the right allocation of resources.
“Strategy is a word used in many ways but it comes down to the allocation of resources. As such, I think what will drive the direction of where you put those resources in your strategy is having the right organisational culture which has the capability to adapt very quickly,” Toriola explained.
Also riding on the backdrop of the immeasurable impact strategic thinking has on businesses, he commented on the essence of understanding the place of flexibility in strategic thinking.
According to him, “There are so many ways of ensuring value creation is achieved in organisations. Although pursuing various strategies may be a difficult task, it plays a crucial role in the appropriate allocation of both human and capital resources.”
Other speakers at the Forum expressed their agreement with Toriola’s thoughts and shared their thoughts on the importance of organisational culture in driving their company’s strategy.
The BusinessDay CEO Forum has continued to attract the best minds in the business world who are allowed to freely share their thoughts and learn from fellow business leaders.