Dr Noel Tagoe, the Executive Director of Chartered institute of Management Accountants (CIMA) Education has stated that disruptions that occur in local businesses should be taken as opportunities.

Speaking at the 31st CIMG awards, the Guest of Honour who is also a Professor of Practice (Accounting) at University of Nottingham stated that disruptions such as the Covid-19 pandemic presents opportunities that should be harnessed by businesses.

“Disruptions present you opportunities, and you’ve got to be able to see those opportunities and work those opportunities.”

In view of the changes the pandemic has brought into the industry, Dr Tagoe asked that business owners become more curious and develop a culture of collaboration in order to make sense out of the changing trends.

“But you see if you have a culture of curiosity in your organisation, a culture of open-mindedness in your organisation, if you have a culture of collaboration and not of being a siloed organisation, if you see beyond your organisation and corporate with others outside…if you have an ecosystem approach to syncing and not a pipeline approach to value creation…where you are connected to different kinds of people, you get intelligence about what is happening and you begin to make sense out of it.

By doing so, he believes that information that hitherto seemed trivial and unimportant to businesses will begin to have relevance and businesses will be able to take a firm decision on what changes to make to their outfit during the disuption in order for them to thrive.

“To survive, you need resilience, to revive, you need agility and to thrive, you need to be innovative in the kind of things that you do.

“See opportunities as threats so that you guard yourselves against them. But see them as opportunities so that you ride the wave it brings.”