Broadcasting
Bring On the CTO: Why Having a Chief Transformation Officer Makes Sense in a Post-COVID World
By Ricardo Vargas Executive Director, Brightline Initiative, PMI
The case for having a Chief Transformation Officer (CTO) has been building for years. Now, as companies undertake the difficult task of rebuilding in the wake of COVID-19, the CTO role is more important than ever.
“Life will never be the same after COVID-19.”
You hear that a lot these days. But for many organizations, life will indeed be different in a post-COVID world. Whether they’re restructuring their supply chains, reframing their go-to-market strategies or reconsidering their office space needs, organizations rebuilding in the wake of COVID-19 will need to undergo significant transformation.
To aid in these efforts, it becomes relevant to think about formalizing the role of the Chief Transformation Officer.
The role of Chief Transformation Officer, or CTO, is tailor made for times like these. A CTO can take top management’s transformation vision and make sure it’s properly disseminated throughout the organization.
He or she can translate that vision into concrete goals. Even more important, the CTO can devise and deliver the master plan for achieving these goals—overseeing the multitude of projects that will be needed to turn the organization’s transformation strategies into reality in the post-COVID world.
A Constant State of Transformation
Even before the onset of COVID-19, however, the argument for formalizing the CTO role had been building. That’s because many organizations are already dealing with near constant transformations due to disruptive societal and technology changes. These include growing urbanization, climate change, massive demographic shifts and the revolution caused by advanced technologies like artificial intelligence, robotics and 5G.
There’s also the reality that transformations are costly, time-consuming and difficult. They tax the capabilities of even the most agile organizations. In fact, Forbes estimates that 70 percent of large-scale transformations fail to achieve their goals, resulting in a loss of approximately $900 billion in 2018 alone.
Transformations fail for a variety of reasons. Executives we spoke to as part of a 2020 Brightline study, titled Mastering Strategy Implementation in Transformative Times , cited such challenges as limited resources, insufficient technology, skill gaps among internal talent and a lack of processes for guiding strategy.
This same research—among 1,000+ C-level executives from around the world—also provides supporting evidence for the CTO role. Indeed, one of the key variables contributing to the success of a strategic transformation is strong leadership. Brightline’s years of experience in researching strategic implementation suggests that naming a CTO may be the best way of providing that leadership.
Using Standardized Processes
The CTO can serve as a catalyst for formalizing the processes used in transformation initiatives. That’s important because one of the other key variables behind a successful transformation is implementing and adhering to such standardized processes.
The CTO can bring the discipline needed to do so—helping organizations be more adaptable and allowing them to take full advantage of the technology and frameworks they already have.
Finally, having a CTO leads to greater accountability. Investing one person with the responsibility for overseeing a transformation eliminates any potential leadership gaps. It ensures that there will always be one person—the CTO—whose sole priority is the success of the transformation initiative.
Sometimes a black swan event can disrupt a trend that has been gaining momentum. In the case of the CTO role, however, the COVID-19 pandemic should accelerate that momentum. In the post-COVID world, we need to bring on more CTOs to manage the arduous task of re-building our organizations, our economies and our society.
Broadcasting
Copyright Commission Warns School Proprietors Against Pirated Books
AS the Nigerian Copyright Commission (NCC) intensifies its public awareness campaign, school proprietors in the FCT have been advised to exercise due diligence by procuring books from legitimate sources to curb copyright infringement and help sanitise the book value chain.
This was disclosed by Mr. Emeka Ogbonna, the Director Operations, NCC, in his address at the General Meeting of National Association of Proprietors of Private Schools (NAPPS), FCT held at Veritas University, Abuja on 9th October, 2024.
Speaking to the participants, Mr. Ogbonna acknowledged the contributions of the proprietors to the educational development of the nation, emphasising the need for wholesome practices to protect the book ecosystem. ‘’If you must sell or distribute books, ensure you get them from the right sources”, he cautioned.
He said the warning was imperative in view of complaints from right owners and publishers about schools selling pirated books. He stated that the NCC is not opposed to schools selling books, but maintained that due diligence must be exercised by ensuring that all purchased books are properly documented with authentic receipts.
Sensitising the school proprietors further on the tenets of the new Copyright Act 2022, the Director said it is a criminal offence to sell, distribute or be in possession, other than for private or domestic use, works that are pirated. Harping on the stiffer punishments prescribed for offenders by the new Act, he said schools selling or distributing books will be treated as booksellers and subject to the same standard of care.
The NAPPS FCT President, Mrs. Ruth Agboola, commended the NCC and other government agencies in attendance and lauded the Management of Veritas University for hosting the event.
The meeting was also attended by the Vice-Chancellor, Veritas University, Abuja, Rev. Fr. (Prof) Hyacinth E. Ichoku and other officials of the University.
Broadcasting
TETFund Suspends Foreign Scholarships Due to Rising Costs and Abscondment
Tertiary Education Trust Fund (TETFund) has announced the suspension of the foreign component of its TETFund Scholarship for Academic Staff (TSAS) Intervention, effective January 1, 2025.
This decision, outlined in a letter dated November 25, 2024, and signed by TETFund’s Executive Secretary, Arc. Sonny Echono, cites the escalating cost of overseas training and an increasing number of scholars absconding as reasons for the suspension. The letter was addressed to heads of beneficiary institutions, including vice chancellors, rectors, and provosts.
“In response to the current excessive cost of training in foreign institutions, coupled with the high rate of abscondment of scholars, the Board of Trustees of the Fund has approved the suspension of the foreign component of the TSAS Intervention,” the letter stated.
TETFund has directed beneficiary institutions to prioritize local training within Nigerian universities, polytechnics, and colleges of education. This shift, according to Echono, is aimed at reducing pressure on foreign exchange, enhancing local capacity, and significantly increasing the number of beneficiaries.
“It is expected that this will conserve and reduce pressure on the foreign exchange rate, boost investment and local capacity in our institutions while significantly increasing the number of beneficiaries of the intervention,” Echono wrote.
However, scholars already enrolled in foreign institutions under the TSAS programme will continue to receive sponsorship until they complete their studies, ensuring a smooth transition for ongoing commitments.
Broadcasting
Copyright Commission Pledges Support to Creatives on Contracts
Dr. John O. Asein, the Director-General, Nigerian Copyright Commission (NCC), has restated the Commission’s commitment to supporting all sectors of the creative industry to reward creatives and boost the nation’s economy.
The DG NCC stated this while receiving 2024 finalists of the National IP Creative Essay Competition, organized by the World Intellectual Property Organisation (WIPO), Nigeria Office who paid a study visit to the Commission recently.
Pointing to the issue of contracts as one area that is being looked into, he emphasized that contracts should be fair and transparent with terms that are not unreasonable, enslaving or unduly onerous.
While acknowledging the long and tortuous process of statutory reform, Dr. Asein assured right owners and other stakeholders in the creative industry that the commission has commenced the process of reviewing the recently passed Copyright Act with a view to identifying areas of improvement.
In the meantime, he announced that the Commission will be putting in place administrative mechanisms to help right owners, through the provision of model contractual clauses, better negotiate and conclude contractual terms.
The Director-General also informed the visitors that the Commission has Alternative Dispute Resolution facilities to help right owners settle copyright disputes.
Congratulating the essay finalists, Dr. Asein used the opportunity to announce their induction as Copyright Ambassadors and urged them to be good representatives of the Commission and the copyright industry.
Dr. Tobi Moody, Director, WIPO Nigeria Office and leader of the delegation, informed the Commission that a total of 256 students from 68 tertiary institutions in 27 States entered for the competition, with a winner and 19 finalists emerging.
Dr. Moody disclosed that the Competition is in line with WIPO’s policy of encouraging students to research and be actively involved in Intellectual Property (IP) matters. He assured that WIPO will support the finalists with capacity building prizes and opportunities to further strengthen their engagement in the field of IP.
The theme for the 2024 essay competition is “IP and Sustainable Agriculture: Combating Food Insecurity in Nigeria”.
Mr. Ikenna Mba, a year-four law student of the University of Nigeria, Nsukka emerged the overall winner of the competition while Mr. Chinonso Izundu, a year-five law student of the University of Port Harcourt and Mr. Adekunle Olajide, a year-four law student of University of Ilorin, were first and second runners-up respectively.
- E-Business2 days ago
NITDA Alerts Nigerians on Cybersecurity Risks Linked to Spotify
- Uncategorized3 days ago
Nigerians to Use NIN Cards for Payments, Cash Withdrawals — NIMC
- News3 days ago
Court Orders Arrest of Echefu, Businessman over Alleged $651,280 Fraud
- Telecom1 day ago
Google, Meta Criticize Australia’s Rush to Pass Social Media Ban for Under-16s
- Telecom2 days ago
FG Plans Four New Satellites as Part of Tinubu’s Renewed Hope Agenda
- Telecom2 days ago
MTN Nigeria Shops for N50Bn Commercial Paper to Boost Working Capital
- News2 days ago
Asein, DG NCC Seeks IP Policy for Every University
- E-Financial24 hours ago
PenCom, PenOp to Integrate Uncovered Workers into Micro Pension Plan