LOCAL AUTHORITY AND WORLD BUSINESS COMPETITIVENESS

The current global economic challenges have put Local Authority in the front and centre of attention. They are under the microscope, their past actions are being scrutinized and their behaviour and actions going forward are being closely watched. They are expected to rise to the challenge and steer their organizations and corporations out of troubled waters that the world economy is now in. The business world is witnessing massive upheaval and scandalous revelations. The crisis calls for a re-examination of the corporate culture and the way business has been done. In some of the scandalous revelations in the US, it has proven that business as usual is not an option any more. That model has been broken. A new way needs to be found. It calls for active, innovative, aggressive leadership and bold decisions.

In view of this, effective leadership has never been more important. Periods of economic stress test the ability and capability of Local Authority and demands that they rise to the challenges. Crisis tests an individual’s abilities more than the good times ever do. Undoubtedly, most leaders will be tested by a few minor and major crises during their tenure. How the individual steers through such troubled times will show the mettle he or she is made of. The Local Authority of today are being tested on several levels, both internally and externally. While they may have some control over their internal environment, they certainly do not know what awaits them externally in the current volatile business environment.

Loyal and hardworking employees are the best asset of any organization, and yes, even in the high tech era and in the computerized age. It is important to retain talent and more so during difficult times. Strengthen and retain what them have. Pull Local Authority talent together and take decisive decisions. Do not let good talent get away. It will be more difficult to find them when the recovery comes, which will come, just as the sun will rise again tomorrow. Local Authority must train and equip staff with the appropriate knowledge and skills to enhance efficiency and improve competitiveness. R & D is important to develop new products, improve current product quality, improve production processes and technological capabilities. These cannot be ignored even during difficult times. And as businesses become more complex, decentralized and globally dispersed, the need for real time integrated information system is essential for improved communication, better analysis and for making quick and informed decisions for any corrective action that might be needed.

Today, the Local Authority is expected to be pro-active in contingency planning, to anticipate and prepare responses. Expediency in the appropriate response can negate losses. As the Chinese word for crisis, Wei ji, is composed of two characters signifying “Opportunity” and “Danger”, the current crisis with its many downsides also offers opportunities. It is necessary for business leaders and Local Authority to seek out the possibilities in these challenging times. Them must do this to remain relevant, sustainable and competitive. Leadership is a demanding role even during times of relative calm. It calls for balancing of internal and inter-business relationships and more so during a crisis, when courage and desire to lead well and effectively are put to the test.