Dr. Buthaina H. Al-Ansari
Promoting Women Empowerment and Updated HR Strategies in Qatar
ENTREPRENEUR OF THE YEAR Tarek Mohamed: An Autodidact Leader with Innovative Vision INSIGHTS’ SPECIAL
8 Most Effective Leadership Styles for Organizational Success
Entrepreneurshipderives byanideawithlotsof determinationand efforts
Recently,inSiliconValley,adigitalpayment
start-uphasraised$200millionfundwhichis quiteanamazingcapitalforthebeginning.This numbershowsthechangingtrendsinbusinesssector whereanideawithstrongfuturepotentialisentertained andreceivesallthenecessaryhelpitrequirestogeton thesurface.Now,start-upandentrepreneurshipare becomingnewestwaytopresentanidea,technologyora service.Thesebusinesstrendshavealsoencouragedall thetalentedmindsallovertheworlddespitetheir geographicalandfinancialconditiontopromoteand initiatetheirideasfrommeredreamstoareality.Of course,startingastart-upcontainsalotofrisksbutthose whoarelabelledwithwillpoweranddetermination alwaysreadytotakethoserisksandtransformtheminto asuccessstory
Today,thefundamentalshiftsintheeconomyand societyarehelpingentrepreneurshipandentrepreneursto becomemorepracticalthanever.Peopleareencouraging thespreadofentrepreneurshipbysupporting accelerators,incubators,andnewbusinesscompetitions intheircommunities.Thesecommunitiesoffer opportunitiesforexperiencedentrepreneurstomeet youngerpeoplewithcommoninterestsincreatinga company.Alsoadvancementininformationtechnology lowersthecostofstartingacompany
Initsupcomingedition“The10Successful EntrepreneursRevampingTheFuture”,InsightsSuccess isbringingthejourneysofsomeofthesedynamic entrepreneurswhoarerecognizedforsuccessfulbusiness ideas,leadershipandentrepreneurshipacrosstheworld.
ThecoverfeaturesButhainaHassanAl-Ansar ChairmanAdvisorofJustRealEstate.Sheisalsoa keydrivingforcebehindstrategicandoperational effectivenessforsomeofQatar’sleadingindustries. Sheissteeringthecompanyachievingitsgoalsin supportingQatar’seconomicdiversification, advisingthecompanyanditsvisionarychairmanon issuesofmarketing,salesstrategiesandtopline structure.Herexperiencepriortobeingappointedas theChairmanAdvisor,hasseenherassumesenior leadershiproleswithinorganizationssuchasQatar InvestmentAuthorityandOoredoo,amongothers.
Let’sunveilsuchalike,inspiringstoriesand interviewsofmanysuchpassionateleadersinthis specialeditionandspreadawordabouttheir contributioninmakingthisworldabetterplace. Also,whileflippingthepages,don’tforgettogo throughthearticlesandCXOswrittenbyourinhouseeditorialteamandindustryexperts respectively
Promoting Women Empowerment and Updated HR Strategies in Qatar
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“ The birth and the death, you have to choose your life between these two numbers.”
“Don't be just an individual who carried tow numbers in her life.”
Education is the magic of my success, because of my education, I differentiate myself among other women in Qatar,” saysButhainaHassanAl-Ansari.Sheadded “Education helped me to be a good speaker a good panellist. If you have strong Education and you are able to utilise it at the write place and time; it is the only weapon which will never make you lose a battle that you will enter.” SheistheChairman AdvisorofherfamilyBusinessJustRealEstate.Sheisakey drivingforcebehindstrategicandoperationaleffectivenessfor someofQatar'sleadingindustries.
ButhainaHassanAl-AnsariissteeringJustRealEstatetowards achievingitsgoalsinsupportingQatar'seconomicdiversification, advisingthecompanyanditsvisionarychairmanonissuesof marketing,salesstrategiesandtoplinestructure.Herexperience priortobeingappointedastheChairmanAdvisor,hasseenher assumeseniorleadershiproleswithinorganizationssuchasQatar InvestmentAuthorityandOoredoo,amongothers.
HoldingaDoctorateofBusinessAdministrationfromNottingham TrentUniversity-UK2019alongwiththeMaster’sDegreein StrategicPlanningandHumanResources,Al-Ansaribringswith herawealthofproficiency,experienceandanexpansivecareer thatstretchesmorethan13years.WithAl-Ansariworkingacross education,finance,andtelecommunications,priortojoiningoneof Qatar’sleadingrealestateconsultancies.Duringthisperiod,she hashonedherskillsintrainingandstaffdevelopmentprograms, strategicplanning,whilesteeringdecisiveHRstrategiesinareas includingrecruitmentpolicies,quality proceduresanddisciplineandgrievance.
Al-Ansariasserts “My secret weapon is my education because it exposed me to many things and different cultures.” Educationand stabilityinthefamilyisimportanttohavea healthyenvironment.Theculture:and environmentathomearcextremely important.Surroundingoneselfwithpositive peopleisimportant.Competitiontodayisno longertypicalcompetition;itisawarover culturalmindsets,notweapons. “We have to build up knowledge and religion, and all this starts at school. Education, the environment at home, and schools should under-stand the new era of the world” sheadded.
AstheActingHumanResourcesDirectorat theQatarInvestmentAuthority,Al-Ansari taskedwithrevisingthecompany'ssalaryand
gradingstructure,aswellasdevelopingandredesigninga QatarizationStrategyandGraduatesProgram,ensuringthat thecompanywasbestpositionedtosupportthefuture Qatarileadersoftomorrow.ShealsoestablishedaNH Digestmagazinetohelptrainingandrecruitingcompanies with14RandtheQatarizationandnationalizationstrategy. Shewantedtoraisetheprofileoftrainingcompanies.
Al-Ansarialsowroteaboutherexperiencedevelopingthe Qatarizationandnationalizationstrategyandhowcanone candevelopandconvertHHfromoperationstostrategic partnersincompanies.Thiswashervisionwhenshe developedtheIIRmagazinebecauseshefoundalackof knowledgeandexperienceinexecutingthenewHR. CompanieswerestillstuckinoldHRstylesthatonlydealt withemployeeissues.Inthisnewera,HRdepartments mustbeabusinesspartnerwiththecompanyandalso protectemployees’rights.ShewantstoconvertHitfroma costcentertoaprofitgeneratingcenterbecauseonecan contributetosocietywhentheyareextremelyadvancedin termsofdevelopmentprograms.
AsastrongadvocateofQatarizationandwomenin
business,Al-Ansariwasakeypersonalitybehindthe developmentofQatar’sfirstInternationalWomen’sDay Tamkeen,itisacompanythatdealswithbuildingskillsfor bothgenders.Backin2010,Al-Ansaricametoherboss whileshewasinchargeoftheHumanresourcesasan Executivedirector,andsaidshewantedtocelebratewomen internationalday.Herepliedwhat???Al-Ansarireplied withwell-preparedanswers.Even,whensheleftthe companyshecontinuedtohavetheseprogramswith differentcompaniesaswellindividualstoempowerwomen forleadershippositionsintheorganizationsandincrease womenpercentagewithintheCsuite-level.Shecamewith anideacalled “Detox your life” andstartedconferencein Qatar.Itincludedworkshops,internationalspeakers, fashionshow,andrealestateinvestmentexpertstoteach themhowtoinvesttheirmoneywhereandhow;eachyear onMarchwithattendanceofmorethan400ladiesinQatar
Al-Ansariopines “There are a lot of definitions of the women empowerment. It depends on how you want to empower women. From my end, I would say building her knowledge, enhance her ability and skills, provide her with a vision and realistic objective that she can achieve with the positive mind-set, and respecting that she is the other half
of the society together with the other half who is her partner and his success.”
Inaddition,shesaid, “In my whole career I want to say that we are not enemies of the other gender we are complete by each other Together we can do miracles in different ways but as a women we need love, respect and believe in our ability.”
TheQatariNationalisapublishedauthor, withthemostnotablebeing ‘Qatari Women before and after Oil and Gas’ and ‘Sheroes’ HercontributiontoQatarisocietyhasalso resultedinherbeingnamedamongthe‘100 MostPowerfulWomenintheMiddleEast’ andcrowned‘BusinessWomenoftheYear’ byArabianBusinessmagazine.
WieldingwithGlobalLeaderTraits
Al-Ansarihasalsoundertakenhigh-profile speakingopportunitiesontheglobalstage, representingtheStateofQatarduringthe EntrepreneurForuminLondon,Entrepreneur PresidentialSummitintheUS,andthe InvestmentForuminNewYork.Shehasalso beenappointedasaJudgeattheQatar Foundation’spopularedutainmentreality program,StarsofSciencecompetition, conductedbyQatarFoundationpopular edutainmentrealityprogram.
Al-Ansarialsorecognizedasoneofthe100 most-powerfulArabwomenbyArabBusiness magazinein2012and2013.Onthis achievementshesays “The award is all about one’s achievements, and I was winking to support women. I faced many challenges,
obstacles and barriers with supervisors and bosses because of their mindset. They did not want women to compete with them as they were raised this way. I was doing a great deal of work in support of women in terms of developing their knowledge, skills, and capabilities.” Shedevelopedamagazinecalled Qatariattohighlightdifferentwomenandtheir achievementsinsocietysotheycangrowtheir businessandnetworksviahermagazine.Then, shejoinedtheprivatesector Andshefoundthe donpeoplewhobelievedinher,andthey promotedherandgaveherhugeopportunities inOoredoo.
Al-Ansarifurtheradded“I subsequently left the company and continued with my Pha. I also joined my brothers’ tympany to handle all the operation in the corn Pany as well as part of the VIP sales team because of my networking contacts.” ShepublishedthebooksMemosin ArabicandEnglishandQatariWomen lieforelgrerOilandGM.
“We inherited the knowledge and education from the past generations so women heir% successful is not new,” shesays.Thesebooks highlightthesuccessesofQatariwomento expats.Duringtheblockade,shepublished anotherbookhighlightinghowtheywere strongerthantheblockadebecauseofthestrong infrastructureinQatar.
Al-Ansaristated “I will continue to support women and promote digital reading in Qatar. I also plan to hold conferences and move I-1H Digest online.” ThereisstillabigneedinHR, especiallyfornewHRprocesses.Shewantsto promoteentrepreneurshipandforthatfocuson retailbusinesseslikeburgers,cafes,clothes,and othersisnotenoughbutalsotechnologyalso playscrucialpart.SheikhaMonstarted10years agowiththeTechnologyOasisattheQatar Foundation.Shewasadoptingstarsofscience fromtheentireArabworld. “I would also like to do a comic hook talking about teenage issues with a central character that will come up with solutions to the problems teens face” saysAlAnsari.
TarekMohamed CEO SharetheloadInternational
think, to ever be a CEO/Director, you need to have a
brutal streak to ensure everything is done right despite it isn’t right. Just always show your true colours of care and love but never be afraid to pull others in line especially if they depend on you.” Thisistheleadership mantraofTarekMohamed,CEOofSharetheload,who believesthatintegrity,beingauthentic,beingaccountable, self-confidence,andcommunicationarethevitalattributes ofaleader.AstheCEO,heensuresthedirectionsarebeing metaccordinglyandifnotheensuresitdoes.Theteamhas regularmeetingstoensureprojectedoutcomesarebeing metandmitigatinganyissuestheymayface.
Asanall-rounderwithtenyearsofemploymentexperience, Tarekhasgainedinvaluableskillsandexperiencethathas beeninestimabletomanysuccessfulcompanies.Having studiedandexcelledinEconomics,hisbackgroundin Financethrougheducationaswellaspersonalselfeducationhasallowedhimtopositivelycontributeinroles specialisingbutnotlimitedtoAustralianEquities.
Additionally,asavisionaryentrepreneur,Tarekhasbeen abletoself-learnwebdevelopment.Moreover,asamethod ofbootstrapping,hecreatedmultiplefailuressuchas writersaboard.comandinspiringinvestor.com.au respectivelytohelphimfundhismajorprojectwhichwas notasuccess.Alsogivenhissocialwork/youthwork
background,theexperiencehasbeenpivotalin understandingandcommunicatingwellwithothersinorder toachieveapositivedesiredoutcome.Thisskillhasbeen carriedforwardacrossthediverseroleshehasbeen involvedin.Afterfounding ‘Sharetheload’,Tarekhasbeen implementingstrategiestomakesurethatthecompanyis movingtowardstherightdirectionoflaunch.Moreover,his roleinthecompanyentailscorporatestructure,corporate legality,partnershipsetc.
AccordingtoTarek,Sharetheloadisbuiltonbeingdifferent totheothermajorcompetitorsoutthere.Theseallstem frompersonalfrustrationsasconsumers.Thecompany offersRFIDtagging,facialrecognition,barcodereading whichnologisticoffersasawhole.Inaddition,ithas enteredaworld-widepartnershipwhichhasalloweditto enternewmarkets,neverseenbefore.It’scorporatesplit; thesplitis80(corporate):20(users).Thiscoversallthe expensesandensuresusersaresatisfiedwiththeservice andthusremuneratedcorrectlyviapositiveworldwide connections.
Tareksays,growingupwithmigrantbornparents,hehas seenfirst-handthetrialsandtribulationsthattheymustgo throughtogetitemsfromoverseasfamilymembers.Fast forwardtoday,helikestopurchaseitemsonvarioussites
andwouldfrequentlygetfrustratedwiththedelayin waitingtime.Oneday,Tarekorderedanexpressparcel fromtheUnitedStateswhichwasdelayedby3weeksand thushecameupwiththeidea.Ithurthimashepaidmore forthedeliverythentheactualitem.Thus,itmadehim explorewaysofdeliveryinthelastmileandinnovative methods.
GrowingupasafirstgenerationAustralian,Tarek’sparents migratedheretogivehisfamilyagreateropportunitythan Egypt.Hehasalwaysbeenraisedtotakeeducation seriouslyandnevertakelifeforgranted.Heasserts “Growing up, I could see my parents struggle and I said to myself I'll make a change. I also played a lot of sports including Soccer which taught me to be a team player whilst also to perfect my craft. Putting in tireless hours has disciplined positive habits that translate over to my business world.” Heoftenreadnon-fictionbased informationacrossmedical,technologyandeconomic factors.Moreover,hislifehasdeterminedthedirectionshe takesinhislifeandthusanyinfluencesaremade accordingly.
Tarek’svisionforthecompanyisquitesimple.Heonly hopestosee‘positiveconnections’acrosshumanityandthe
world.Sharetheloadhopestoseeitsusersgrowandgiving consumersbetteroptionsthataremoreaffordableacrossthe globe.Toreachthecompany’spotentialcustomers,ithasa dedicatedteamwithanextensivebackgroundinadvertising andpromotion.Itadvertisesusingsomeofthebiggest platformsintheworldincludingbutnotlimitedtosocial mediaandflyers.
OverthecourseofTarek’sjourney,oneofthemost challengingroadblockshehascomeacrossisFinances.He challengesthestatusquoortheconventionalmethodsof capital-raising.HeoftengoeswithanIOUbasiswithmany partnersandensurestheytrusthimenoughtoknowhewill havehiswordsbackedupwithactions.Thisisbasedoffhis greattrackrecordwithsmallerprojectsthathaveledto greatoutcomeswhichhasledhimtobeabletobuildmore.
Changeisanecessaryprocessforprogress.Withsucha dynamictechnologicalera,Tareksustainsleadershipby lookingatpeopleandunderstandingtechnologytothe highestdegreebystudyinginmicrodetail.Hetriesand understandeverythingalltechnologicaladvancementsfrom Robots,Microchips,Hackingetc.
Technology,technique—nameit, theworldhasbestowedsome remarkablyadaptive implicationsandstimulatedtheminto becomingaglobalbrand.Yet,many organizationsarestrivingtoattainthe fullbenefitsofbeingaglobally recognizedbrand.Tostretchout confinements,variousorganizations oftenofferfranchiselicensesto franchiseownersinpotentially profitableregionsforacquiringabetter customerapproach.Insteadofstarting fromascratch,anindividualcan purchaseafranchiseandstartwitha provenbusinessmodelthathasamore probabilityofachievingsuccess.
Withadequatemanagementand guidance,onecaneasilyflourishinthe businessworld.Franchisebusiness strikesdowncertainhardshipsand strugglesthatmightbefacedinthe start-ups.Choosingfranchise
businessesoverastart-upcouldprove asabetteridea,asithasmorefruitful benefitsthatofanyinitial-staged businesses.
Unlikeanystart-ups,afranchise businessallowsanindividualtocarry outtheoperationdirectlyfromthe establishedfoundation.Frombrand cultivationandmarketingtofuture plansandcustomerbase,anew franchiseownerisblessedwithalmost everything.Anoutletofafranchise ensurestheideaoffollowingthe similarbusinessmodulesand operationalmethodscanbemore effective.And,implementingsome newtweaksinsuchabsoluteaspects makesthetaskeasierforadistributor
Inaddition,italsoallowsprofessionals tooverviewthebusinessreportsand keyperformanceindicatorswhichaid
onetoadaptandmakeappropriate businessdecisions.Besides,astrong supportsystemisoftenanecessity ratherthanawant.Itsupportsan individualinmaintainingbalance betweenbothindependentideologies andthebrand’sbusinessmodules.The supportmostlyincludesthevast knowledgeaboutthefranchiseandan expertiseoutlookonproducts.With suchsystem,manynewbusiness personalitiescanperpetuallysustainin themassivemarkets.
Oneoftheprimaryconcernfactorand themisconceptioninfranchise businesslieswithinthelimitationof autonomy.Unlikeindividual enterprises,afranchisebusinessmight befacingsomeproblemsregarding receivingafullscaleautonomywhich canbeoverruledthereafter.Itrequires
compassionoverchoosingafranchise whichismoresuitablewitha purchaser’sbusinessethics.This reducestheriskofbeingdominatedby franchisorsandotherinvestorentities andhelpsindraftingownrulesto followon.
Thoughafranchisecomeswithawellestablishedplatform,itdoesrequire consistenteffortsonbringingthe organizationupwards.Accordingto variousreportsandfacts,ithasbeen alsostatedthatthesuccessrateof franchisebusinessisquitehigherthan anindependententrepreneurial venture.Asfranchiseesoperateundera systematicbusinessmodel,theygetan indirecttraininginmarketingaswell asstaffhandling.Withalarge-scale marketing,thefranchiseescan promptlyattainmorecustomer attractionresultingintoahigher growthrate.
Customerengagementisoneofthe mostcrucialanddifficultprocessesina businesstobear Togainmorenumber ofcustomers,anorganizationhasto investtheirtimeandeffortson processingvariousmarketingaspects. Incaseoffranchisebusiness,theodds arequitesimilarbutwithfewerefforts. Asmostoffranchisebrandshavea nationaloraglobalrecognition, franchiseesarerequiredtocontribute intoa“marketingbudget”through whichtheparentcompaniescould processoutanextensivepromotion campaigns.Meanwhile,franchiseecan alsostartanindependentcampaignin ordertogaininstantcustomer engagement.
Belowaresomemethodsthrough whichfranchiseescanupliftthe business,independently
Focusingontargetaudiences—instead ofexaggeratingovercustomer approaches,onecannarrowdownthe targetaudiencestohighlyqualified prospects.Itallowsbusinessownersto concentrateandcomeupwithbest prospectstodeliver
Return-policy—beingthemost traditionalandeffectivewaytoattract customers,utilizingreturn-policiesin franchisebusinesswillaidthe franchiseestogetbettercustomer approach.Providingsomethingin returnandofferingvariousschemes helpsincreatinganadversemarketing network.
Quiteafewrequirementsareneededto befulfilledbyaprospectivefranchisee ownerinordertogetqualifiedfor licensingthebrand’sname.The qualificationrequirementssignificantly varyfromonefranchisortoother.It oftenincludesmaintainingahighernet worthandagoodcreditscorefora largerinitialinvestment.Inaddition,a franchiseemustbehavinganother sourceofincomealsoan industry/managementexperiencefor guidingbusinesseffectively.
Subsequentlyconsideringallthe factors,thefranchisordetermines whethertheprospectiveowneris worthyenoughtobequalifiedforthe businessornot.
AFranchiseagreementincludescertain setsoftermswhicharerequiredtobe followedbythefranchisees.After beingqualified,anindividualsignsan agreementwherehe/shehastopaya franchise-feeinordertoacquirethe licensetousethebrandsnameandits businessprocesses.Simultaneously, thefranchisorassistsfranchiseeswith allocation,supplierconnections,storemanagementandstafftraining. However,italsobestowsvariousfacets likespecifictestedoperatingsystem, withcreativemarketingstrategies.
Initially,theopportunitiesof implantingreinventioninfranchise businessarenarroweddownasthe focusofafranchiserisondeliveringa consistentexperienceacrossallthe locations.Amultiplefranchised locations,afranchiseecaneasilyattain increasedpurchasingpower.Also, Franchisebusinessallowsbusiness personstobeflexibletotrynew productsorservicesinordertotestin thereal-timemarketscenario.Thusby consideringaboveaspects,itcanbe concludedthatthefranchisebusinessis mostsecureandbestoptionto investin.
Foraleader,leadershipisaprocessofconstant learningwhichstrengthensbyanunwavering commitmenttodevelopmentandcollaboration.One suchleaderisJillianHamilton,whobelievesgood leadershipisalifetimeworkthatrequirescontinual learning,supportingothers,andhavingaperspectiveto understandwhichthingsarereallyimportant.Sheisthe ManagingDirectorofManageDamage,arisk managementadvisoryfirmthatfocusesonthetruecostof risk,workingwithclientstoprovidetheirbusinesswith specialistadvisorswhocandriveyourefficiency, productivityandprofitability
Belowarethehighlightsoftheinterviewconducted betweenInsightsSuccessandJillianHamilton:
Describeyourbackgroundandwhatdidyoudobefore youstartedorcameintothisbusiness?
IstartedmycareerinRiskManagementbychance-Ihad justcomebackfromoverseasandafriendneededmeto helpherwiththeaccountsonacivilconstructionsite.It wasn’tlonguntiltheProjectManagersuggestedItookthe SafetyCommitteeMeetingMinutes,ashecouldseeIhada gooddemeanourwithalldifferentpeopleonthesite.
Lateron,theyneededaSafetyandEnvironmentOfficerand asIhadanenvironmentalbackgroundheappointedmeand placedmeonaWHSOfficerscourse.Thiswasmynew foundprofession-Ireallyneverlookedbackafterworking onAustralia’slargestremediationprojectatthetimethen elevatedtooverseeafewmoreRemediationprojectsofasI learntmoreandmore;
IthentransferredtoanothercompanywhichwasaTierOne BuilderandcompletedsomeAustralianDefencework buildingsandthenworkedindemolition,safetyindesign, Greenstarbuildingandhighrise.
IwasthenaskedtoworkinWesternAustraliainthemining industryundertakingaStateSafetyManagerpositionfora thenthrivingbluechipminingandinfrastructurecompany; afewyearslaterItookatemporaryassignmentina nationalrailpositionbutfoundmygreatestroleinalarge multi-statenowmultinationallabourhirecompany
Thedynamicswerefast,furiousandfantastic-Ilearntso muchfromtheentrepreneurialleadersandthispavedmy waytofoundManageDamageanentitytoassistbusiness borrowtheexpertisetheyneededforjustthetimethey
needed;laterwedevelopedourfirstpatentRisk Dollarisation®anddeliveredourbookandprocessnow worldwidetovariouslevelsofbusinessandeven governmentclients.
Whatpeople,whatbooks,whatlifefactorshave influencedandimpactedyou?
Myfatherisafarmer–heworksfromsun-uptosun-down tofeedhiscattle,planthiscrops,checkhisfences,planthe shearingorusethehorsestomovethestockaroundand ensurethewaters.Ireallywatched,learnedandeven workedwithmyparentsfromayoungagetolearnthe ethicsofwork,harddecent,honestandethicalwork.Isaw thatifyouworkhardandkeepdoingitdayindayoutand prepareyourgroundandcareforitandrespectit,andhelp yourneighboursthatwhenthereisabushfire–theywill helpyou.
EverypersonImetgavemeapieceofthemselves–they helpedmeseetheworldthroughtheirglasses.LaterI wantedtodothisthroughmywork,sowestartedtoexport ManageDamageservicesandfoundtheapplicationworked evenbetteroverseasthanlocally!Sonowmyinternational clientsandcolleagueshelpmouldtheversionofme.
FromabusinessperspectiveandriskapproachIamon constantreadinesstobeinspiredbyanotherviewand aspectthathelpssolveproblems.Ireallyfoundalovetoeat elephants–ifyouhadaproblem;Iwantedittosolveitfor youandforme!
Whatistheoperatingphilosophyandcutting-edge solutions/servicesthatthecompanyhasbeenbuilton? Wecreatenewdescriptors,withadditionalandspecific costs/valuesratherthanthecurrentvaluesofsafety–TRIFR,LTIFRandothermalleablereportingvalues(nonfinancial).
TheRiskDollarisation®methodincreasestheimportance andunderstandingofthecurrentnon-financialfunctionsof abusiness.Thisisbecausetheyarenowrepresentedin financialterms.
Thisapproachallowstheleadersofbusinesswhothinkin dollartermsandfinancialstermseverydaytoknowand understandthetruecostofDamageCosts.
Thisapproachchallengestheconceptofassigningcosts, peopleanddamageinoneconversation.
Currently,businessesonlybecomecomfortabletalking aboutthecostsofriskwhenthereisacatastropheand everyonesays,“Weshouldneverdothatagain!”
RiskDollarisation®allowsabusinesstoacceptthat DamageCostscanbeidentified,assessedandmanagedat allstagesofabusiness,notjustatcatastrophicmoments.
“
TheRiskDollarisation®moralimperativeistodrive activityofstakeholdersinthebusinessfinancially.Ifyou understandthisandrealigntheapproachitwillmeansafety getsaseatatthetableandisspokeninlanguagethatis understood.Wearecompletelysimplifying/demystifying safety&makingitmeaningful/practical.It'snotmagic–it’s simpleeconomics&measurement-markedmeasured& managed.
Whatisyourvisionforthecompanyforthenextfive years?
ManageDamagewillremainsharponalledges–weare launchinganewappwhichwillhavesomeusefulpractical toolsforbusinesstomanageriskwithoutspecificoneon oneguidance...wearealsoworkingonanewGlobalSafety GovernanceOfferingsostandbyforthisone.
AsaManagingDirector,describeachallengeyou overcame.
IthinkifanyManagingDirectordoesn’tletyouknowthat theyovercomechallengesdaily;theyarereallyhavinga lend!Thegreatestchallengeatthemomentisreallystaying abreastofthemacroandmicroeconomicforcesatplayin ourglobalbusinessenvironments–thespeedofchangeis sogreat–buttheCV19environmentaddsawholenew level–stillwaitingformyTrumanShowContract.Weare onarealityTVshowrightnow-right?
Howdoyousustainyourentrepreneurial/leadership spiritinthischangingtechnologicalera?
What’stosustain?–thisisthemostexcitingmomentinour lifetimesfortechgrowth,changes,leapsandbounds–neverhasthespeedofchangehadsuchaprofoundeffecton therateandoutputindevelopment–thereissomuch happening–Iamjustcrossingmyfingersthatholograms getsogoodthatIcanconsultgloballywithouta42hr transit;orheck–when’sthis“teleportation”theyspeakof isactuallygoingtowork–ifIwasanairlineorcruiseship companyrightnowI’dconsiderapivottothiswork?!!
Whatadvicewouldyouliketogivetotheemerging businessleaders?
Ithinkyouhavetorememberbeforeyoustart;fillyour pocketswithasmuchcashasyoucan,clearyourdebt,plan yourpath,prepareyourwholebusinessbeforeyoustart,get yourselfacrashhat,getamouthguardfittedandgetready tohussleharderthanyoueverhavebefore.Thisisatough ridewherethewinsarelikegoldandthelossesmakeyou begladyouboughtacrashhat!
fterseeingherfatherstrugglingtowalkanddo
othertasksthatmanyofustakeforgranted,the FounderandManagingDirectorofWalkWith Path,LisePapedecidedtocreatesimplesolutionsthat haveapositiveimpactonthose,whoaresufferingfrom Parkinson’sdisease.
Itwasimportanttoherthat,thesolutionshouldnothave anysideeffectsbutratheronlyaddpositivebenefit,which eventuallylaidthefoundationstoneforWalkWithPath. AccordingtoLise,bringingPathFinderLaserShoestothe marketwasakeyachievement,whichischangingthedaily livesofitsusersforbetter
InaninterviewwithInsightsSuccess,LisePapethe FounderandManagingDirectorofWalkWithPathhas sharedvaluableinsightsabouthercompanyandits struggles.
BelowarethehighlightsoftheinterviewbetweenLiseand InsightsSuccess;
Describeyourbackgroundandwhatdidyoudobefore youstartedorcameintothisbusiness?
Withabackgroundworkingandstudyinginhumanbiology, finance,advertisingandproductdevelopment,Iwas studyingInnovationDesignEngineeringatTheRoyal
CollegeofArt(RCA)andImperialCollegeLondon,a coursefocusedonenterprise,entrepreneurship,incubation andbusinesssupportattheRoyalCollegeofArtinLondon, whenIcameupwiththeideaforthesystem.
IworkedcloselyontheideawithapartnerfrommyRCA class,FlorianPuech,whohadanengineeringbackground. ThentheRCA'sownincubatorhelpedusgetmorestructure toourideaandworkthroughthebusinessbasics,suchas gettingalegalagreementinplace.Wejoinedtheglobal startupacceleratorMassChallengeandobtainedgrants fromtheDysonFoundation,HelenHamlynTrustand Nesta,amongothers.
Whatpeople,whatbooks,whatlifefactorshave influencedandimpactedyou?
MyfathersuffersfromParkinson’sandafterseeinghim struggletowalkanddoothertasksthatmanyofustakefor granted,Isetoutonamissiontocreateasolutionthatcould helphimandotherpeoplelivingwithParkinson.
Whatistheoperatingphilosophyandcutting-edge solutions/servicesthatthecompanyhasbeenbuilton?
Itwasimportanttomethatthesolutionshouldnothaveany sideeffects(likedrugs)butratheronlyaddpositive
benefits.ThiswasthebeginningofPathFinderLaserShoes forpeoplewithParkinson’sandwhyIfoundedWalkWith Path.
Whatisyourvisionforthecompanyforthenextfive years?
Wewanttomobiliseothergroupsofvulnerableindividuals andhelpimprovetheirqualityoflife.Wearenow developingPathFeeltohelppeoplewithdiabetes,stroke andmultiplesclerosis.Peoplewholivewiththesechronic diseasesareoftenstrugglingtowalkbecausetheyhave peripheralneuropathy(alossofsensationinthesolesof theirfeet).Wewishtolaunchaproductthatwillhelp, mobiliseandprovideconfidencetomillionsofpeople worldwide.
Accordingtoyou,whichupcoming/currenttechnologyis goingtobeadisruptiveforceinanearfuture?
OneofthemainchallengesindesigningPathFeelisthe lackofspacefittingthebatteryintotheinsole.Weare
aimingtofitabatterythatwilllastforatleastadayofuse withthecurrenttechnologyavailable(e.g. batteries)forthe firstversionoftheproductwewillputonthemarket. However,therateofinnovationallowsustopredictthat batterytechnologywillsignificantlyadvanceandbatteries willbecomesmallerandmorecompactwithsimilarifnot greatercapacity.Solid-statebatteriesaremeanttobewidely availableonthemarketinthenextfiveyearsandcan containuptothreetimesmoreenergyperunitweightthan conventionallithium-ionbatteriessoweareplanningto monitornewbatterytechnologiestouseinournextversion.
AsaCEO/leader,describeachallengeyouovercame.
Beingastart-upinhealth-techandinhardwaregaveusalot ofchallenges.Tryingtosourcefirststageinvestmentisnot easyanditmaytakesometimebeforeyouareabletomake yourfirstsale.Health-techsolutionsareatypeofproducts thathavequitealongtimetomarket.Health-techisalso heavilyregulatedandyouneedtoadheretothestandardsof regulation.Therefore,bringingPathFinderLaserShoesto themarketwasakeyachievement,anditfeelsincredibly
LisePape Founder&ManagingDirector WalkWithPath
“ Walk With Path is a mobility company with a social mission to transform the lives of thousands of people.
rewardingtohearfromourusershowitischangingtheir dailylivesforthebetter.
Howdoyousustainyourentrepreneurial/leadership spiritinthischangingtechnologicalera?
Ilistentotheendusersofourproduct.Onadailybasiswe helphundredsofpeopleliveafreeandindependentlife. Oneusertoldmehowhewasabletokeepworkinginstead ofhavingtogoonearlyretirement–simplybecausehewas nowabletowalktothetrainstationandgotowork.Stories likethatkeepmemotivatedandgivemestrengthto overcomethechallengesthatwefaceeveryday.
Whatadvicewouldyouliketogivetotheemerging businessleaders?
Trytofindaninvestorthatisagoodmatchtoyouandmake clearwhatyouexpectfromthemandifyouarelookingfor anactivepartnerormorepassivesupport.Connectwith likemindedpeople.Ithasbeenveryvaluableformetobea partofmanyofthenetworksthatWalkWithPathisapart of,suchasMassChallenge,EIT,AARP,SocialInnova, CartierandSITAlumniNetwork.Itisalsoparamountthat youstaypersistentandnotatleastpatientifyouarein health-tech.
An effective leader is the first and foremost condition for a successful business. The hugely successful leaders adopt a combination of multiple leadership styles or just one selective style.
As a fluid practice, leadership is always changing and improving the way the company grows. There are different types of leadership styles exist in a work environment.Thecultureandvisionofanorganizationdeterminewhichone isthemostsuitablestyle.
TRANSFORMATIONAL LEADERSHIP Inspires the staff through effective communication and collaboration
DEMOCRATIC LEADERSHIP welcomes views & suggestions from the employees
LAISSEZ-FAIRE LEADERSHIP allows the employees to make their own decisions
TRANSACTIONAL LEADERSHIP establishes a clear chain of command implementing a carrot & stick approach to management activities
02 03 04 05 06 07 08 01
AUTOCRATIC LEADERSHIP have significant control over the staff, seldom considers any suggestions from staff
STRATEGIC LEADERSHIP encourages collective decision-making
BUREAUCRATIC LEADERSHIP follows a strict set of rules and policies
CHARISMATIC LEADERSHIP charms the staff with individual charisma
One of the most effective leadership styles is the transformational leadership style. Transformational leaders inspire their staff through effective communication and collaboration and thus initiating the path to success. They set challenging goals and higher expectation from each employee eventually achieving a greater result.
These individuals are often blue-sky thinkers. For the successful implementation of their strategic visions, the organization might need more detailoriented managers.
Democratic leadership is another highly effective leadership style. Often known as Participative leadership, in this style the leaders often ask help and collaboration from their subordinates.
This leadership usually reports higher levels of job satisfaction and the company can benefit from individualistic creativity. However, this style involves more than one individual in the decisionmaking process which makes the process slower.
The term ‘laissez-faire’ literally means ‘let them do' in French. In leadership, this is typically translated to ‘let it be’. In this leadership style, the leader allows the employees to make decisions. Laissezfaire leaders are known for their hands-off approach which is often criticized for poor role definition for managers.
Such leadership style is effective in creative jobs and workplaces with experienced employees. However, active monitoring of performance and effective communication regarding the expectation from the leader’s end is must to get the most out of this style of leadership.
Transactional leadership is basically focused on group organization, establishing a clear chain of command and implementing a carrot-and- stick approach to management activities. According to Boundless.com, transactional leadership includes: clarifying what is expected of followers’ performance; explaining how to meet such expectations; and allocating rewards that are contingent on meeting objectives.
As the name suggests, the autocratic leadership style is the extreme version of transactional leadership. Autocratic or authoritative leaders take control of the staff and rarely accept or consider employees’views or suggestions. Ruling with an iron fist is rarely appreciated by staff, which can lead to high turnover and absenteeism. Autocratic work environment rarely has any flexibility
Strategic leadership is a commonly effective leadership style. This leadership style involves a leader who is essentially the highest authority of the organization. Strategic leaders are not, however, limited to the top authority of the company. They include a wider audience at all levels who want to create a high- performance life, team or organization. This is because of this approach this is one of the most desirable styles of leadership.
Bureaucratic leadership models are most suitable for highly regulated or administrative environments, where adherence to the rules and a defined hierarchy are important. In this leadership style, the leaders set a strict set of rules, regulations, and policies which they follow precisely, and they expect their teams to follow the line.
A tinge of resemblance is evident in both charismatic and transformational leadership. Both the leadership styles rely heavily on the positive charm and personality of the leader
However, this style of leadership is seldom considered to be effective because the success of projects and initiatives are closely linked to the presence of the leader
Withthefocusonhelpingfarmersimplement strategicirrigationmanagementGroGuru cameintoexistence.Theorganizationmeasures thingslikesoilmoisture,temperature,andsalinityat variousrootdepthofcropsbydeployingsoilsensors. GroGuruwirelesslytransmitsthisdatatotheCloudwhere itaddsadditionalinformationtomakeAI-based recommendationstofarmersaboutwhenandhowmuchto irrigatetheircrops.GroGuru’srecommendationengine accountsforthedatathatitgetsfromthesoilsensors,but alsocroptype,weather,soiltype,andadditionaldata.
AstheCEOandPresidentofGroGuru,PatrickHenry drivestheoverallstrategyandoperationalexecutionforan excitingAgTechcompanythatwillchangethewaythat farmersgrowcropsbyusinganinnovativeIoTsystemfor precisionirrigationandsoilmonitoringandmanagement.
InaninterviewwithInsightsSuccess,Patrickhasshared keyinsightsofthecompanyandhisjourneyasaserial entrepreneur
BelowarethehighlightsoftheinterviewbetweenPatrick andInsightsSuccess;
Describeyourbackgroundandwhatdidyoudobefore youstartedorcameintothisbusiness?
Iamaserialentrepreneurthathasrunfourtechstartup companies,includingGroGuru.Ihavehadmultipleexits includinganIPOthatleadtoa$1billionvaluation.Ihave anengineeringundergradandanMBA.I’veworkedin technologymywholecareer.
IamthepresidentandCEOofGroGuru.Inthisrole,there aremanyhats,especiallyinastartup:chiefsalesperson, chiefoperatingofficer,chieffundraiser,chiefrecruiter,and chiefcheerleader.Weareaninnovativeagriculture technologycompanyfocusedonstrategicirrigation management.Wehelpfarmersmakemoremoneyby increasingcropyieldandmoreefficientlyusingwaterand otherscarceresourcesinasustainableway
Whatpeople,whatbooks,whatlifefactorshave influencedandimpactedyou?
I’vehadanumberofexcellentmentorsinmycareerthat havereallyhelpedtoshapeandguidemycareerpath.Some ofmyfavouritebusinessbooksinclude:TheInnovator’s Dilemma,CrossingtheChasm,BuilttoLast,Competitive Strategy,StrategicSelling,andGoodtoGreat,tonamea few.I’vealwaysbeenverygoalandachievementoriented, andmyparentswereverysupportiveofmypursuits.Ialso lovepersonaldevelopmentbookslikeEarlNightingale’s LeadtheFieldandNapoleonHill’sThinkandGrowRich.
Whatistheoperatingphilosophyandcutting-edge solutions/servicesthatthecompanyhasbeenbuilton?
GroGuruhasdevelopedaninnovativeandnowpatented technologycalledtheWirelessUndergroundSystem,or WUGS,thatcancommunicatethroughseveralfeetofrock, soil,concrete,etc.Thistechnologyenablesthepermanent installationeveninannualfieldcrops.Wethenapply machinelearningtothisproprietarydatastreamandmake recommendationstofarmersaboutwhenandhowmuchto irrigatethroughasimple,intuitive,farmer-friendlyuser interface.
Whatisyourvisionforthecompanyforthenextfive years?
Ithinkwecangrowtobetheleaderinirrigationmonitoring andmanagementforcommercialfarmersintheUSand worldwide.
Accordingtoyou,whichupcoming/currenttechnologyis goingtobeadisruptiveforceinanearfuture?
OtherthanGroGuru,Ithinkgeneticcodeandgenetic editingsolutionsaregoingtoexperienceexplosivegrowth andtonsofinnovation.Also,anythingtodowithimproving soilhealthandcarbonsequestration.
AsaCEO/leader,describeachallengeyouovercame.
TherehavebeenmanychallengesI’vehadtoovercomein mycareer.Inmyexperience,adversityiswhereleadership istestedandproven.Ithinkpersistencewithpatienceand a coolheadduringtimesofgreatuncertainty,ambiguityand stressisessentialforleadership.Inmycareer,I’vehada failedIPOthatweturnedaroundandmadesuccessful,I’ve navigatedacompanythroughthegreatrecession,andat GroGuruwe’vehadtoraisemoneyandbuildacompanyin anincrediblydifficultfundingenvironment.
Howdoyousustainyourentrepreneurial/leadership spiritinthischangingtechnologicalera?
IactuallywroteabookaboutthiscalledPLANCOMMIT WIN:90DaystoCreatingaFundableStartup.Ithinkone ofthemostimportantthingsasastartupleaderistonever giveup.Don’tquitbeforethemiraclehappens.Andstay
Obstacles are those frightful things you see when you take your eyes o the goal. “
positive.ThisisnottosayyoushouldbePollyanna,but don’tgiveupjustbecausethingsgethard.Haveaplan, adjustasappropriate,andhaveacommitmenttowin!
Whatadvicewouldyouliketogivetotheemerging businessleaders?
Getamentor.Haveadvisorsandmentorsinyourlifethat arefurtherdownthepaththatyouarepursuing.Beopen mindedandwillingtolistenandlearn.Getthedatathen trustyourgut.
