Board Impulse Thoughts (BIT) – A little BIT for everybody

52nd Board Impulse Thoughts with Keamogetswe Matsho and her views and assessments of the upcoming and last 12 months.

1. Which were your biggest learnings over the past 12 months?

That change does not announce its arrival, until it is in action. We are constantly met with waves of change, and we must remain agile and ride the wave.

?In the past two years, we have journeyed through unprecedented times that no one could have ever predicted nor imagined. This left many of us unprepared and many businesses needing to pivot and relook how they navigate through a looming recession and a pandemic.

?The way we do business has changed. What we prioritize as people has changed. All over the world, the great resignation has taken place. The pandemic made people realize that maybe textbook success defined as copious amounts of money is no longer enough. Health and happiness need to be prioritized. Work-life balance is required. Living life beyond the boardroom is important too.

?This has not only been a personal recurring theme for many including myself, but one in businesses too as we are beginning to see a strong focus on ESG.

2. As you have mentioned above, ESG has come under the spotlight in organizations and the C-Suite. How sustainable is this for emerging and medium-sized enterprises?

The best way to ensure compliance with ESG metrics is to have them embedded in the organization’s strategic intent and their “raison d’etre”. With that said, there must be a level of grace shown to emerging and medium-sized enterprises as they are most likely to fall short because of budget constraints within their organizations. With the harsh economic climate and the volatile macro-economic factors that have led to more companies sinking, keeping afloat is a privilege for emerging and medium-sized organizations. Adding ESG metrics, if they are not already embedded in the company’s strategy initially, becomes rather challenging.

However, emerging, and medium-sized enterprises need to relook their business models and their products in order to be aligned with where global trends are heading when it comes to sustainability.?Relooking this will lead to sustainable profitability in the long run as there are currently limitless opportunities within the clean energy industry at the moment. Emerging and medium-sized enterprises are lean enough to change direction whereas large enterprises would find it challenging to move as quickly and agile.

3. What are your observations on executives over the last 12 months, did they change their habits and attitudes?

?Risk management is top of mind for every executive, after experiencing a global pandemic that no one predicted, executives understand the need to appreciate the threats that the organisation may face and mitigation strategies needed to be developed for the absolute worst-case scenario so that companies are not found wanting once again.

Business models and the ability to pivot have become important to executives. They are now investigating whether the current business models are viable both long term and short term.

Looking at ways to diversify a company’s existing portfolio has become important too.

The pandemic also sped up digital transformation and that has been a key development and learning for executives. More executives have seen the need to empower themselves in that regard.

?4. What do you expect from 2023?

?I expect to see more innovation and growth in 2023 as we settle in, post-pandemic.

We also have a recession that is looming, this will be a challenge for businesses and people. Once again, companies will really need to look at their investment portfolios (if any) and businesses models because with the continuously rising fuel prices and the cost of living becoming elusive to many, it is going to be a tough economic period.

For large enterprises and multinationals, we are going to see an ever deeper focus on ESG metrics. South Africa is already implementing renewable energy strategies to address the power crisis that we have in the country. So, the focus on clean energy and businesses that offer clean energy solutions will most likely have a good year in 2023.

There will be a focus on the environment even more in 2023 and I sincerely hope on socio-economic matters too as we are going to witness a blood bath when it comes to unemployment in South Africa as businesses are struggling because of the impact of load shedding on operations and numerous factors.

Overall, I remain positive about 2023. If we can find a way to ensure that as we become more environmentally conscience in the boardroom, we are remaining cognizant of what that means for our people. With Eskom shutting down coal plants, there will be communities where majority would be losing their jobs. As executives, how do we plan around that? How do we ensure that we achieve a balance? That will be the question that we will need to carefully interrogate in 2023.

?Having qualified with a B.A in Languages (English Studies) from the University of Pretoria in 2012, completed a postgraduate B.A (Hons) in Brand Leadership from Vega School in 2015 and completed the Executive Development Programme from Wits Business School in 2019. Keamogetswe is a highly motivated individual, with more than 10years proven experience operating in positions that included being a Management Consultant, Project Manager, PR & Image Consultant, Brand Strategist & Tender Administrator, Group Marketing & Communications Manager, Chief Executive Offer for an atmospheric water generation technology and water bottling company headquartered in Pretoria with a production plant in Garankuwa (Pretoria North).