Business transformation must to revive economy

Speakers tell ICAB member conference

Speakers at a conference on Saturday said the able leadership can change an organisation through collaboration and cooperation. The learnings from the ongoing pandemic will also help businesses modify their operation faster than it was thought earlier.

They said such business transformation requires dynamic leadership, emotional bonding among team members, trust and above all readiness to accept innovation and fresh ideas.  The remarks were made at a virtual members’ conference titled 'Business Transformation - Recipe for Survival and Success' held on Saturday organized by the Institute of Chartered Accountants of Bangladesh (ICAB). 

Grameenphone CEO Yasir Azman joined the conference as chief guest while Muhammad Farooq FCA, President, ICAB delivered the address of welcome.

Dewan Nurul Islam FCA, Past President, ICAB and Managing Director, Grant Thornton Consulting Bangladesh Ltd. presided over the Members’ Conference as the Session Chairman.  N K A Mobin FCA, FCS, Member Council -ICAB introduced the theme of the Conference while Jasmine Ahmed, Senior Vice President, Global Finance Transformation, News Corp, New York, USA and ex Sr. Vice President, Business Transformation of Dentsu Aegis Network, New York, USA presented the keynote paper.

Grameenphone CEO Yasir Azman said technology is just a tool for business transformation, but real transformation depends on transparency between leadership and members of any organisation. 

Azman said no leadership can change an organisation if leadership in the different ladders do not collaborate and cooperate. Business change is a must, he said, as learning from the ongoing pandemic will help businesses alter their operation quicker than it was thought earlier. 

The chief executive officer of the largest local telecom carrier said, "We will ultimately understand that everything we had before Covid-19 was not good."

Our economy and the business have been hit hard by COVID 19 and for successful survival, digital transformation of business is must, said ICAB president Muhammad Farooq  adding that before the pandemic a lot of discussions were held on the implications of technology in our future work. "However, future has arrived sooner than anticipated as companies and workers shifted to remote working in order to contain the transmission of COVID-19, dramatically changing how we work.", he added.  

We entered into new era of the 4th Industrial Revolution which is categorized by not just a technological innovation but a fusion of technologies in our day to day life, he further said.  We must embrace this change, he advised, saying that digital revolution does not respect boundaries or nation states.

The keynote speaker Jasmine Ahmed explained why in the post COVID 19 economic, we have to embrace the new normal working scenario at home with a view to run the organizations leveraging on the Internet. 

She stressed the need to connect with customers along with the expanded delivery services system by applying personalized virtual experiences.