President and Chairman Of Council, The Chartered Institute Of Bankers of Nigeria, Prof. Pius Olanrewaju, said educational institutions must evolve to provide curricula that address the practical demands of innovation and sustainability.
Speaking at the 2024 Annual Conference of the Faculty of Management Sciences, Lagos State University, Ojo, Olanrewaju, in his presentation titled, ‘Global Innovation and Sustainability: Building Future-Ready Managers For A Dynamic World,’ explained that the learning environment should encourage creativity, problem-solving, and digital proficiency, making students industry-ready upon graduation.
“Educational institutions must evolve to provide curricula that address the practical demands of innovation and sustainability.
”A strong partnership between academia and industry is vital, ensuring that students acquire theoretical knowledge and develop practical skills and insights into real-world challenges.
”The learning environment should encourage creativity, problem-solving, and digital proficiency, making students industry-ready upon graduation. Educational institutions play an instrumental role in equipping students with the skills they need. Best practices include real-world problem solving and institutions like Lagos State University are increasingly incorporating case studies and real-world projects, bridging the gap between theory and practice.
”Also, the University of Cape Town’s MBA program includes sustainable business modules, challenging students to devise solutions for real-world social issues.”
While speaking on the role of Nigerian managers in the global arena, he added that by adopting a mindset of global-local synergy, Nigerian managers could leverage local knowledge while adopting best practices from international markets.
He revealed that these would establish Nigeria as a thought leader in areas like fintech, agriculture, and renewable energy.
He said, ”Our resourcefulness, resilience, and adaptability history positions Nigerian managers to make significant contributions to global issues. “The global stage is increasingly diverse, and Nigeria, the largest economy in Africa, is responsible for leading innovation and sustainability, offering valuable insights and fostering shared growth. Nigeria’s diverse market landscape and growing influence position Nigerian managers to make significant global contributions.”
Also speaking, Provost, Lagos State College of Health who was the keynote speaker, Prof. R.O Akewushola, who spoke on ‘Global Innovation And Sustainability: Nurturing Next Generation Managers,’ explained that global innovation depicted an unbounded process of creating new solutions via diverse collaborations and exchange of knowledge that address world challenges.
He maintained that for the next generation of Nigerian managers to develop the capacity to circumvent threats and optimise opportunities for their firms, managers must be tech savvy to drive innovation, process/service delivery system improvement, and be committed to taking calculated risks to guarantee sustainability.
He also emphasised that the next-generation managers were likely to face unique challenges that require adaptability, resilience, and forward-thinking leadership.
He maintained that these challenges stemmed from technological advancements, shifting societal expectations, environmental concerns, and the evolving nature of work.
“Next-generation managers require; a clear vision and leadership by example, strategic planning fostering a culture of innovation. Stakeholders engagement, performance measurement and corrective mechanism continuous improvement and learning Impetus for next generation managers, global mindset – understanding diverse culture and perspective, digital literacy- leveraging on technology for sustainability impact, emotional intelligence – empathising with stakeholders and fostering collaboration, creativity by encouraging experimentation and calculated risk-taking,” he added.
The host of the conference, Vice-Chancellor, Prof. Ibiyemi Tunji-Bello, explained that the conference aimed to foster a robust dialogue that would bridge industry practices with academic insights, to create a shared wealth of knowledge that inspires action and fuel progress. She said, “We gather to challenge conventional wisdom, to question established norms, and network with thought leaders who share our commitment to excellence in management.
“This gathering represents not only a convergence of brilliant minds but also the dawn of possibilities that lie before us as we discuss and explore the theme: “Global Innovation and Nurturing Next Generation Managers.”
“In an era characterised by unprecedented change and rapid technological advancements, the role of management and innovation has never been more crucial. As we assemble experts, scholars, practitioners, and future leaders under one roof, we have the unique opportunity to address challenges that transcend borders and to embrace innovations that define the future of global business landscapes.”