- PROFESSIONAL services firm, Deloitte and Lagos Business School, LBS will use the maiden edition of Business Insights Roundtable, taking place this year, to empower businesses on how they can respond to the increasing challenges of disruptive innovations.
At a press conference to announce the initiative and sign the memorandum of understanding between Deloitte and LBS in Lagos, West Africa Clients and Industries Leader, Marie-Theresa Phido, told journalists that the discussion on this year’s Business Insights Roundtable will explore the challenges of disruptive innovations faced by many established businesses and how they can navigate their way around the trend.
According to her, “This year’s topic is, ‘How new businesses are disrupting traditional businesses in Nigeria’. We are going to be looking at how established businesses are being displaced by innovators in the Nigerian market. Companies need to leverage innovation to implement incremental changes that will differentiate their organisation from the competition. These days, each time we go to talk with our clients, we realise that a lot of them are struggling with innovation. A lot of them have grown so big that they do not know what next to do because the small firm down the road is thinking faster than them and looking at their business model and trying to displace them by bringing in innovation.
“So this year we will be looking at how leading innovators within the Nigerian economy have applied some levels of innovation in their organisations by looking at the strategic alignment and approach they decided to take, the structures and processes within their organisations, how these structures are working, their accumulation and use of the knowledge that they have within their organisations.”
Earlier, in an opening remarks, Deloitte West Africa Chief Operating Officer, and Risk Advisory Leader, Anthony Olukoju, said: “Recently we came together to sign a memorandum of understanding on what will be a mutually beneficial journey in the Nigerian business community.
This is an offshoot of the recent agreement between Deloitte and LBS to provide a platform for captains of industry to discuss trending and emerging business issues. This initiative clearly aligns with Deloitte’s strategic interest of being in client’s market and maintaining business relationship. It is also a veritable opportunity to make an impact.
The discourse will take place annually and the topic of will be jointly selected by Deloitte and LBS. The audience will be executives only, selected from all sectors of the economy. The topics and content will be conceptualised and facilitated by both LBS and Deloitte. This yearly collaboration will culminate in jointly developed thought leadership for the Nigerian business environment.”