PwC Limerick hosts its inaugural Business Leaders' Conference this afternoon at Dromoland Castle.
The event addressed the need for clear and decisive leadership to help businesses adapt to the ‘new normal’. Key points noted were:
Addressing the conference, Ken Johnson, Leader, PwC Mid-West Practice said:
"In organisations today we often see stressed customers and stressed balance sheets. In this fifth year of crisis, the need for resilient leadership has never been greater. Resilient leaders are not just communicating a vision for survival or adaptation. Instead, they realise that truly resilient organisations need something else: the agility to create and seize opportunities and to transform themselves in response to shifts in their environments and in consumer behaviour."
Gavin Duffy, Media Coach and Dragon’s Den Presenter said: "There is never a bad time to set up a good business but in a recession a good idea with the right price point will always sell. This is because in a recession, if successful, people are less likely to copy the idea."
Gavin advised businesses not to waste the crisis. "Use the recession to re-engineer your business and prepare it for the 21st century."
Ann Lavin, Director, PwC Limerick, added: "The early adaptors are the winners. This requires in particular staying very close to customers and having a culture of open communications so that the right decisions can be made on time. It also requires having the right people in the right jobs with the right skills. Such leadership will ensure an organisation remains resilient, having the capacity to survive and ultimately delivering growth."
Ken Johnson concluded:
"Uncertainty and volatility are the baseline expectation. In this context successful business leaders are building resilience into their organisations so that they have the buffer to withstand future shocks and the capacity to exploit the opportunities that will arise in this uncertain environment."
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