By Emeka Aginam, Asst. Online Editor
The Executive Vice Chairman of the Nigerian telecom-munication regulatory authority, the Nigerian Communications Commission, (NCC) Engr. Ernest Ndukwe, has emphasized that ICT can indeed be relied upon to reverse the global economic meltdown across the globe.
Ndukwe who made this emphasis while delivering a key note speech at the Obafemi Awolowo University, Ile Ife Management Lecture hosted by the Executive MBA Students at Oduduwa Hall ofÂ the university, said that this prescription is the outcome of practical expert analysis of the impact of ICT in management and the economy across the globe. According to him, every global economic boom has been marked by advent of new technology, be it the advent of steam engines, steel and railways, electrical, chemical or automotive industries and now computer, information and biotechnological innovations.
Citing an example of how Intel Corp of US boosted its operations with more investment during the 2001 recession, and afterwards reported its highest growth since 1996,Â Ndukwe said that the traditional view of recession is to stop spending, but that innovative leadership understands that the proper use of technology and technology tools results in improved efficiency, cost savings, better time management among others.
In a remark which took same position as his earlier submission at a forum in Abuja to examine the impact of the global economic meltdown on the Nigerian ICT industry, during which he said that the Nigerian telecom operators will run a risk if they stop spending on account of the recession, . Ndukwe said that about three months ago, a World Telecom Policy Forum in Portugal, came to the conclusion that the ICT industry will accelerate recovery from the economic meltdown.
Also at theÂ Abuja forum, the telecom EngineerÂ had told telecom operators that with the level of huge demand for telecommunications services, and current demand for a better quality of services from the operators, there is no option for the them than to invest more heavily in the sector, in spite of the recession.
â€œIndeed, the correct use of ICT is a strategic stimulus for business improvement and faster recovery during a down turnâ€, Engr. Ndukwe said while speaking on the topic â€œThe Imperatives of Management in the Face of Current Global Economic Crisisâ€ at the occasion presided over by the Chairman, Committee of Deans, Professor V.A OlanrewajuÂ who represented the Vice Chancellor, Professor Michael Faborode.
The NCC boss who studied electrical and electronics engineering at the same university, touched on other aspects of management and credentials of managers that are capable of achieving efficiency and meeting bottom line.
He said successful business management cannot discount on issues like innovation, corporate governance, accoun-tability, improved financial management, investment in technology, customer centricism, manpower fit, team building, and strategic leadership. On innovation, he said a corporate leader needs to always clearly define what the organizationâ€™s core business is and then strive to attain superior market competit-iveness through innovation.