One of the keys to good
Guiding the Caribbean’s Path to Excellence ‘
TheCaribbeanregionisrichinpotentialandfueled
byacollectiveambitiontoharnesslocalstrengths andglobalinsights.Businessleadersherehave takenpurposefulstrides,blendingtraditionwithinnovation toaddressuniquechallengesandunlocknewopportunities. Withadeep-rootedsenseofresponsibilitytowardtheir communities,theybalancestrategicvisionwitha commitmenttoinclusivity,ensuringsustainablegrowthfor futuregenerations.
Astheregionembracesdigitaladvancement,Caribbean leadersremainattunedtoglobaltrendswhilepreserving culturalheritage.Theircommitmenttodrivinglocal economiesforwardisevidentinthewaytheyprioritize talentdevelopment,ensuringthatthenextgenerationhas thetoolstoexcel.Bypromotingbusinessenvironmentsthat valueresilienceandcreativity,theseleadersinspire emergingprofessionalstocontributemeaningfullytothe Caribbean’ssocioeconomicfabric.
Incelebratingtheirjourneys,werecognizetheprofound impacttheseleadershavemade—notonlywithintheir respectiveindustriesbutalsoacrosstheregionasawhole. Theyserveasinspiringexamples,underscoringthepower offocusedvision,ethicalpractices,andanunwavering dedicationtogrowth.
Inthisedition,MostInfluentialCaribbeanBusiness LeaderstoKnowin2024,wepaytributetothosewho continuetoelevatetheCaribbean’spresenceontheworld stage.Theirstoriesremindusthatmeaningfulprogress stemsfromacommitmenttobothpurposeandaction, markingthemaspillarsofinspirationinaregionprimedfor apromisingfuture.
Haveagoodreadahead!
George Connolly
Driving Meaningful Progress in the Renewable Energy Sector
20. Shanika Roberts-Odle
Governing a Growth Through Failure
28. Gavin Bridge CXO
ARTICLES
16. 24. 30.
How Digital Transformation is Progressing in the Post-Pandemic Era
Understanding the Basics of Business Management
Reimagining Capitalism: Ethical Challenges for Leaders
- Anand Mahindra
Editor-in-Chief
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Art & Design Head
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Business Development Manager
Business Development Executives
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Richard
Descrip on Featuring
Gavin Bridge Chief Analyst George Connolly CEO Joy Penn CEO
Norman Chen CEO
Shanika Roberts-Odle Founder/CEO
The FASTMaster fastmaster.substack.com Company
Solar Dynamics Limited solardynamics.co/
Na onal Bank of the Virgin Islands na onalbank.vg
tTech Limited ech.com.jm
Barbados Medicinal Cannabis Licensing Authority bmcla.bb
Gavin Bridge's fact-first approach has seen FAST execu ves across the world rely on his monthly repor ng of the state of the FAST market as he provides reliable coverage of the emerging market.
George Connolly combines technical exper se with a peoplecentered approach, inspiring his team to pioneer advancements that address today’s global energy challenges.
Joy Penn has exper se in organiza onal leadership, commercial banking, retail banking, and corporate communica ons.
Norman Chen's commitment to leveraging technology to op mize efficiency and foster business growth has been instrumental in posi oning tTech as a trusted partner in managed IT services.
Shanika Roberts-Odle's approach is rooted in fostering partnerships across sectors, advoca ng for responsible cul va on and innova on, and upholding strict quality standards.
George Connolly
Driving Meaningful Progress in the Renewable Energy Sector
Committed to inuencing positive change, I am dedicated to steering the company to help not only the Caribbean and Latin America but also the broader global community in adopting practices that preserve our environment and save lives in the absence of a Planet B.
Combating Climate Change and Championing Sustainable Energy Solutions for a Greener Future!
There'snolongeranycredibledoubt thatclimatechangeishappening andthathumanactivitiesarethe primarydriver.Fromrisingtemperatures andsealevelstomoreextremeweather eventsanddisruptionstoecosystems,the impactsofourwarmingplanetarebeing feltacrosstheglobe.
Thescienceisclear,andtheurgencyis real.Sothequestionweallneedtobe askingourselvesis:Whatarewegoingto doaboutit?ThesewordsbyAlGoreecho thesentimentdrivingGeorgeConnolly, CEOofSolarDynamicsLtd.,asheleads thechargetowardsagreener,more sustainablefuture.
Connolly'scareerpathhastakenhim throughvariousindustries,from manufacturingandretailtotechsales andconsulting.Buthistruepassion liesintherenewableenergy sector,wherehenowworksat SolarDynamics.Itwashis growingconcernforthe environmentandastrongdrive tocombatclimatechangethat ultimatelyledhimtothisfield. Withadiversebackground underhisbelt,hebringsa wealthofexperienceanda uniqueperspectivetohisrole, determinedtomakeameaningfulimpactin thefightagainstglobalwarming.
Leadingasahopeofingenuityinthe Caribbean'ssustainableenergydomain, SolarDynamicshaspioneeredsolutions thatreducerelianceonfossilfuelsand mitigatecarbonemissions.WiththeCEO atthehelm,thecompanyhasbuiltastrong reputationasafrontrunner,drivingtheshift towardsrenewableenergysources.
However,SolarDynamicsisaboutmore thanjustbusiness;itscoremissionisto protectfuturegenerations.Connollyfeels thiscausedeeply.Heworksextremelyhard
As a practitioner deeply involved in digital transformation rather than a leader, Connolly acknowledges the transformative potential digital technologies hold for global business.
topromotesustainableenergysolutionsthatdon'tharmthe environment.HiseffortsnotonlyhelptheCaribbeanand LatinAmericanregionsbutalsomaketheentireworld moresustainableforeveryone.
Let us explore his journey
TheOrigins
SolarDynamicsLimitedtracesitsrootsbackto1972when itwasfoundedbyReverendCanonAndrewHatch,driven byavisionofinnovationandsustainability.Thecompany's inceptionwasinspiredbyadesigncraftedbyCanadian ProfessorTomLaw,leadingtothedevelopmentofthefirst solarhotwatersystem.Thisfuturistictechnologywas introducedtothemarketin1974byformerManaging DirectorJamesHusbands,positioningBarbadosasaleader inrenewableenergydespitelimitedresourcescomparedto othernations.
Withasteadfastdedicationtoquality,manySolar Dynamicssystemshavedemonstratedremarkable longevity,remainingoperationalevenafterthreedecades. Thecompany'sheadquartersaresituatedinBarbados,with asubsidiaryinSt.Luciaandcollaborativeventures spanning21Caribbeancountries.Overtheyears,Solar Dynamicshasexpandeditsproductportfoliotoinclude photovoltaicsystemsandwatertreatmentsolutions, cateringtoadiverserangeofsustainableenergyneeds.
Moreover,itaspirestoshareitsexpertiseonaglobalscale. Recentendeavors,suchasajointventureinMalawi, signifythecompany'sstrategicmovetowardsinternational expansioninregionswithsimilarclimaticconditions.This forward-thinkingapproachunderscoresSolarDynamics Limited'scommitmenttoadvancingrenewableenergy solutionsworldwide.
ExpandingHorizons
Outlininganexpansivevisionforthecompany'sfuture, Connollyexplainedthattheorganizationisgrowingbeyond itsrootsasapioneerinsolarhotwaterandthermosiphon technology.Transitioningtowardsofferingcomprehensive sustainablesolutionsforresidential,commercial,and industrialsectors,itsproductrangenowincludesvarious solarsolutions,withasignificantfocusonphotovoltaic energygenerationandstorage,aswellaswaterproduction andtreatmentsystems.
Recognizingtheescalatingwaterscarcityduetoclimate change,SolarDynamicsemphasizessustainablewater management,conservation,andreclamation.Theseefforts aredeemedcrucialnotonlyforindividualself-reliancebut alsoforthebroaderglobalcommunity.Positionedtoleadin providingtheseessentialservices,itanticipatesan expandedroleinshapingthefutureofsustainableenergy andwatersolutions.
CorporateGiantstoBlockchainVentures
ReflectingontheimpactofhisexperiencesatPwCanda XeroxdistributorinLatinAmericaonhisleadership approachatOneLedgerTechnologyInc.,Connollystressed howthestructuredenvironmentsoftheseglobal corporationsinstilledvaluessuchasclearcommunication, consistentperformance,andeffectiveriskmanagement.
Drawingfromhissoftwareexpertise,Connollycrafteda robust,sales-focusedglobalstrategyforOneLedger
Furthermore,histimeatInflux,aremoteAustralian customersupportcompany,equippedhimwithskillsto managegeographicallydispersedteamsacrossvarioustime zones,provinginvaluableintheversatiledomainofthe blockchainindustry
EnablingSeamlessInteroperability
OneLedgerTechnologyInc.'sWeb3platform,whichis intendedtoenableseamlessblockchaininteroperability,is highlightedasthecompany'scoreinnovation.Accordingto Connolly,thisplatform'smostnotablefeatureisthe SyndicatedBridge,whichmakesiteasiertomoveassets anddataacrossvariousblockchainnetworks.Moreover, this"bridges"disparateblockchainecosystemstoprovide increasedflexibilityandconnectivity.
ComplementingtheSyndicatedBridgeistheOneLedger EVMinterface,whichoffersfullcompatibilitywiththe Ethereumecosystem.Thisenablesdeveloperstoeasilyport Ethereum-basedsmartcontractsanddecentralized applicationsontotheOneLedgerplatform.Inparticular,for sophisticatedsmartcontracttransactions,Connollynotes howOneLedger'sadherencetoefficiency,auditability,and transparencyisdemonstratedbythesefeatures.In therealmofblockchain,headded,the
technologyoffersexceptionalsecurity.
Byenablingcross-chainoperabilityandEthereum compatibility,OneLedger'stechnologyaimstoaddressthe challengesofblockchainfragmentationandfacilitate greateradoptionandutilizationofdecentralized applications.Hefurtherbelievesthattheseinnovative capabilitiespositionOneLedgerasaleaderindrivingthe evolutionoftheWeb3ecosystem.
VisionofDecentralizedExchanges
Themotivationforconcentrating onthecreationofa
Looking ahead, we aim to share our expertise globally, with recent initiatives like a joint venture in Malawi marking our rst step towards international expansion in similar climatic regions.
decentralizedexchange(DEX),accordingtoConnolly, stemmedfromacommitmenttotheconceptsof decentralization,increasedsecurity,andthedemocratization offinancialtransactions.Thiseffortwasintendedtoenable peopletoeasilyhandletheirtransactionsbetweencountries, signifyingashifttowardfinancialindependencefreefrom corporateorgovernmentaloversight.TheabilityofDEXs tooffersafe,open,androbusttradingplatformsthatsubvert thehegemonyofcentralizedexchangesholdsthekeyto theirpossiblyhistoricimpactonthebitcoinindustry
Byapplyingthisconcepttofiattransactions—thatis,both domesticandinternationalexchanges—itispossibleto imagineatimewhenmoneymovesfreelyviasmart contracts,doingawaywiththeneedformiddlemen,saving companiesmoneyonoperatingcosts,andencouragingfair financialparticipationworldwide.
Furthermore,utilitydecentralizationbroadensthis frameworktoencompasssituationsinwhichorganizations, whethertheybebusinesses,towns,orcountries,produce, store,anddistributetheirownenergyandwaterresources andcanrecoverandreusealargeamountofwaterthatis used.Byachievingthesegoalswithahighlevelof integrity,oversight,andauditability,ecosystemsthatare self-sufficientandsustainablecanbefostered.
SeamlessAssetIntegrationAcrossBlockchains
SeamlessassetintegrationacrossblockchainssuchasBSC andPolygonisanticipatedtorevolutionizetheuser experience,accordingtoConnolly Thisintegrationfosters interoperabilityandliquidity,resultingingreaterstability andreducedtransactioncosts.Usersgaintheflexibilityto choosechainsbasedontheirspecificneedsforspeedand cost-efficiency,therebyincreasingengagementwithawider arrayofservicesandapplications.
Developersareencouragedtoinnovatebyleveragingthe strengthsofdifferentchains,whiletheecosystembenefits fromreducedriskbynotrelyingsolelyononechain's infrastructure.Thisprogressiontowardaharmonized, efficient,anduser-centricblockchainenvironmentmarksa significantadvancementforthetechnology
SecuringSignificantInvestments
Inpursuitofsecuringsignificantinvestmentsfor OneLedgerTechnologyInc.,thecompanyimplementeda multifacetedstrategyundertheleadershipofConnolly. Commencingwiththedevelopmentofacompelling whitepaper,theinitialcoinoffering(ICO)surpassed expectations,settingapromisingtoneforthecompany's future.
Centraltothisstrategicapproachwasthedemonstrationof auniquevalueproposition,groundedininnovative technologies,ascalablebusinessmodel,androbustmarket potential.Leveragingtheexpertiseandcredibilityofthe leadershipteam,thecompanywasabletoforgestrategic partnerships,whichinturncultivatedastrongcommunity presenceandbolsteredinvestorappeal.
Theseconcertedeffortshaveyieldedpositiveresults, propellingOneLedger'sgrowthtrajectoryandlayinga sturdygroundworkforfutureprogress.Thecompany's abilitytostrategicallypositionitself,forgestrategic alliances,andestablishastrongsenseofcommunityhas beeninstrumentalinsecuringthesignificantinvestments necessarytofuelitscontinuedadvancement.
ThePowerofDecentralizedApplications
Inhisperspective,decentralizedapplications(dApps)are poisedtorevolutionizecryptocurrencymarketplacesby grantingusersgreaterautonomy,reducingrelianceon
centralizedauthorities,andamplifyingtransparencyin transactions.Connollybelievesthepotentialforwidespread adoptionofdAppsissubstantial,astheyofferheightened security,user-friendlyinterfaces,andadiverserangeof servicesacrossthefinance,gaming,andsocialmedia sectors.
Hebelievestheseapplicationscanupendtraditional businessmodelsbyputtingdataandtransactioncontrolin users'hands.Withblockchainscalingupandinterfaces gettingeasiertouse,hepredictsdAppswillsoonbecome mainstream,fuelinginnovationandgrowthinthecrypto world.
Notably,histeamiscurrentlydevelopingadAppaimedat trackingandmanagingcarbonemissions,supporting initiativestowardachievingNetZeroobjectivesby furnishingregulatorsandbusinesseswithactionabledata. ThisdAppisintegratedwithanAI-poweredtrading platformandadecentralizedexchange,furtherfacilitating cleanenergyinitiatives.
Connolly'svisionfordAppsunderscoresitstransformative potential,empoweringusers,promotingtransparency,and drivinginnovationwithinthecryptocurrencyecosystem.As technologycontinuestoevolve,thewidespreadadoptionof thesedecentralizedapplicationsispoisedtoreshapethe futureofdigitalmarketplaces.
ImpactofBlockchainonGlobalBusinessEfficiency
Asapractitionerdeeplyinvolvedindigitaltransformation ratherthanaleader,Connollyacknowledgesthe transformativepotentialdigitaltechnologiesholdforglobal business.Blockchain,inparticular,standsoutforits capacitytosignificantlyimproveefficiencyand interoperability.Itsdecentralizedstructure,coupledwith easilyaccessibleandimmutableledgersandsmartcontract capabilities,instillstrustandstreamlinesoperations.
Blockchain'ssecurityfeaturesofferprotectionagainstfraud, facilitatingsafercross-bordertransactionsandsupplychain management.Moreover,itsinteroperabilityenhances processeslikeidentityverificationandintellectualproperty protection.Despitechallenges,blockchainispoisedto revolutionizeglobalbusinesspractices,fostering performanceimprovementandequitableinternationaltrade.
BlockchainIndustry'sPromisingTrajectory
Witnessingapromisingpathfortheblockchainindustry andanticipatingsubstantialgrowthdrivenbyincreased
enterpriseadoption,Connollyhighlightsthepivotalroleof theICTacademiccommunityinembracinglanguageslike Solidity,Rust,andGolang,aimingtoexpandtheutilityof smartcontractsbeyondtheircurrentconfinesinthecrypto domain.
OneLedger'sstrategyformaintainingaleadingposition involvesleveragingDeFi,AI,andinteroperability,along withimplementingadvancedprotocolstoenhance scalabilityandsustainability.Thecompany'sdedicationto researchanddevelopment,particularlyinquantum-resistant securityandfosteringpartnershipsinblockchain-ready sectors,ensuresitscontinuousrelevance.
Activelyengagingwiththevibrantdevelopercommunity andcloselymonitoringtechnologicaltrendsarecrucial componentsofOneLedger'sapproachtosustaining innovationandleadershipintheever-evolvingblockchain industry.Thisdualemphasisondevelopmentandmarketing underscoresthecompany'scommitmenttodrivingthe industryforwardandsolidifyingitspositionasaninnovator inthefield.
AligningOneLedgerwithSolarDynamics
AccordingtoConnolly,OneLedgerandSolarDynamics Limitedwillworkcloselytogethertocreateasynergistic partnershipthatwillusethesecurityandclarityof blockchaintechnologytoimprovesustainablepractices. SolarDynamicscouldtracksustainableproductsthrough theirlifecyclewithOneLedger'stechnology,ensuring legitimacyandmoralsourcing,buildingtrustamong customers,andimprovingsupplychainsintheprocess.
Ontheotherhand,blockchaintechnologymighthelpSolar Dynamicsbyloweringoperatingexpensesandcarbon footprints,therebypromotingsustainablepractices.The mainobjectiveistouseOneLedger'stechnologyin conjunctionwithSolarDynamics'historytomakecarbon footprintmanagementeasierforafuturethatismore environmentallyfriendly.Drivenbymeasurable environmentaleffectsandongoinginnovation,thisstrategy combinesdevelopmentwithstrategicmarketingtoachieve andmaintainaleadershippositionintheblockchainsector.
How
TheCOVID-19pandemicchangedalmost
everythingacrossvarioussectors.Itforced organizationstoadaptquickly,respondto changingcircumstancesintheirmarkets,and reconstructservicesthatcouldfittheever-changing lifestylesofcustomers.Businessesemergingfromthe pandemichaveprioritizeddigitaltransformationas neverbefore.Theentireprocessofdigital transformationmeansembeddingdigitaltechnology throughouttheentirebusinessoperationanddelivering valuetothecustomerinamannerthatis fundamentallydifferentfromwhatexistedbefore.This fieldhasseengreatprogressduringthepost-pandemic era.Itwasdrivenbynecessityandinnovation.
IncreasedPaceinDigitalAdoption
Thepandemiconlycatalyzeseffortsthatmost organizationswerealreadymakingbeforethe pandemic.Mostorganizationshadalreadyembarked ondifferentdigitaltoolsandstrategieslongbeforethe pandemic.However,socialdistancingoccasionsanda turntoworkfromhomeforcedorganizationsto increasetheirpaceofdigitalaction.Reportsby McKinseyhaveshownthatcompaniesaccelerated tenfoldtheadoptionofdigitaltoolsfasterthanthey wouldhavedonebeforethepandemic.Thishasbeen thepacethatnowrebuildsindustriesandshifts customerexpectations.
Forinstance,thefirmsthatreliedonwalk-in communicationsovernightswitchedtodigital channels.Organizationsthatdidnottaketimeto embracethee-commerceplatformfoundthemselvesin adigitalbusinessmoreovernightthanever.According tostatistics,thesalesofe-commerceacrosstheworld increasedto27.6%intheyear2020,reaching$4.28 trillion.Itexplainswhybusinesseswillneedan adequatedigitalpresence.
ToolsforRemoteWorkandCollaboration
Remoteworkingisprobablythemostsignificant changethatthepandemicbroughtin.Organizations thatusedtooperateinatraditionalofficesettinghave embracedflexibleworkingarrangements.Teamshadto equipthemselveswithcollaborationand communicationtools-Zoom,MicrosoftTeams,and Slack.
Asrevealedbytheresultsofasurveyconductedby Gartner,82%ofcompanyleadershaveannounced planstoensurethat,atleastsomepartofthetime,they
willallowemployeestoworkfrom homeafterthepandemic.Thischanged andmodifiedthenatureofthe workplacedynamicsandbroughtinto thespotlightthefactthatitisessential toinvestintechnologiesthatsupport remoteworking.Companieshavenow focusedonimprovingtheirdigital infrastructuressothatthereareno adversitiesandhurdlesincollaboration orproductivity.
TransformationinCustomer Experience
Afterthepandemic,customershave changeddramatically Today,the modernconsumerwantsmore personalizationandno-friction interactionsacrossmultiplechannels. Businessesengageindataanalytics andAItodeepentheirunderstanding ofcustomers'behaviorbetterand respondtothatwithcorresponding valuepropositions.
Forexample,companiesareusingAIpoweredchatbotsthatprovide instantaneouscustomersupportand promotetheuserexperiencewhile,at thesametime,minimizingoperational costs.Salesforceclaimsthat70%of customersexpectcompaniesto understandtheirneedsand expectations.Assuch,companiesare heavilyinvestingintechnologiesthat enablethemtogaininsightsfrom customerdata,leadingtotargeted marketingstrategies.
EmbracingCloudTechnology
Cloudcomputinghasemergedasa bedrockofdigitaltransformationinthe post-pandemicera,andremotestorage ofdataaswellasaccesstoapplications fromanylocationhasbecomea necessityforoperationsofmany businessesbasedonahybrid environment.Besidesflexibility,cloud technologyofferssecurityandscale.
Gartnerdeclaresthatworldwide spendingonpubliccloudserviceswill hit$482billionin2022andachievea compoundannualgrowthrateof18%. Thisgrowthindicatesanextremely swift-increasingturnofpresent dependencyoncloudsolutionsas organizationsseektostreamline operationaleffortswithreducedcosts.
CybersecurityIssues
Digitalizationofbusinessisequally accompaniedbyincreasedcyberrisks. Newweaknessescreatedbyremote workaretheperfectopportunitiesfora cybercriminal.Organizationsneedto paymuchattentiontocybersecurity sincedatacaneasilycompromisetheir positionandgoodwilltocustomers.
AsCybersecurityVenturesclaims, cybercrimewillcostcompanies approximately$10.5trillionintotalper yearthrough2025.Inthiscontext, mostcompaniesinvestinsophisticated securitysolutions,suchasmulti-factor authentication,encryption,and employeetrainingprogramsdesigned toraisealertnesstopotentialthreats.
TheRoleofInnovation
Innovationhasbeenthelifebloodof drivingdigitaltransformation. Companiesincreasinglyemployed agilemethodologiesthatwouldpermit themtoreactrapidlytochangesinthe marketandthedemandsofconsumers. Thiskindofenvironmentencouragesa cultureofexperimentationwhereideas canbeexperimentedonwithoutmuch risk.
Startupsappeartobethemaintrends inthisenvironment.Astheylookedfor newwaystochangeandredesignthe relativelytraditionalbusinessmodel, severalprogressivefintechfirmstoday createdfriendlierappsformanaging personalfinance,openingavenuesto
bankingservicestomorepeoplethan everbefore.
FutureTrendsinDigital Transformation
Thereareseveraltrendsthatwillshape thefutureofdigitaltransformationin thepost-pandemicera.Automation technologies,includingRPA,areone ofthemostsignificanttrendsthatwill helpliberatethebusinessfromroutine tasks,makingroomforthemore importantworkofitsemployees. Businessesarenowautomatingroutine taskstoenhanceefficiencyandfreeup employeesformorestrategicwork.
Therehasbeenanincreasing recognitionbyorganizationsofthe needtobesustainableandimplement practicesthatarenothostiletowards theenvironment.Digitaltechnologies enablethetrackingofusageof resources,suchthatwastagecanbe reduced,bringingbusinessoperations intoalignmentwithsustainability goals.
Conclusion
Digitaltransformationisnolonger optionalbutanecessityforbusinesses thatwanttomakeitinthepostpandemiclandscape.Thegrowthrate oftechnologyhasnotonlychangedthe faceoforganizationsbutalsotheir relationshipwithcustomersandthe waytheyreacttochallenges.As companiesmoveonthispath, innovationwillbekeytothefuture togetherwithcybersecurity
Thisphasealsoremindedusthattimes areindeedchangingandthatwiththe times,we'rebestatadapting.With smartuseofdigitaltools,businesses cansurviveandthriveinan increasinglycompetitiveenvironment.
Success is not how high you have climbed, but how you make a positive difference to the world.
- Roy T. Bennett
Thriving Amidst Policy Shifts in Medicinal Cannabis!
We'veallheardthesaying"failfast"intheworld
ofstartupsandinnovation.Theideaistomove quickly,takecalculatedrisks,andifsomething doesn'twork,failquicklysoyoucanpivotandtryanew approach.Whilefailingisneverfun,thereiswisdominthis mindsetoffailingfasttolearnandmoveforward.
"Ibelieveintheconceptoffallingfast,soyougetupfaster, soyoucorrectthemistakesandmoveforward."Withthose wordsfromShanikaRoberts-Odle,yougetasenseofthe bold,solutions-orientedmindsetshebringsastheacting CEOoftheBarbadosMedicinalCannabisLicensing Authority(BMCLA).Inthisnewlycreatedgovernment role,sheistaskedwithchartingBarbados'pathintothe burgeoningmedicinalcannabisindustry.
Beingaformersenator,herdiversebackgroundasapolicy expert,politicalscientist,andpublicsectorleaderhas preparedherwellfortheuniquechallengesahead."Ihave spentmytimefocusedonwhereBarbadosisandwhereit needstogo,makingthebestuseofwhatwehavetoget wherewewanttobe,"sheexplains.
FortheCaribbeanregion,legalizedmedicinalcannabis representsapromisingbutcomplicatednewfrontier."We haveauniquespiritualandculturalcontextandrelationship totheplant,"shesays."Butthescience,bestpractices,and regulationshavehistoricallybeendrivenbyEurope,the U.S.,andCanada."
Being inclusive for me, is less about the ideology and more about understanding that each person has their own skill set each person has their power that I can lean into and learn from them, which I have found sometimes leads them to the understanding of learning from you.
Hermissionistomergeinternationalstandardswith regionalknowledgetodeveloparegulatoryframeworkthat upholdsglobalruleswhilerespectinglocalculture.It'snot aneasybalance,sheadmits,butoneshe'suniquely qualifiedtostrike.
"We'reinaplacewherewetrytofigureouthowtocomply withinternationalruleswhilechartingapaththatis respectfuloftheuniqueplaceinwhichwefindourselves," shesays."Therewillalwaysbemistakes.ButI'mwillingto admitthem,fallfast,getupfaster,correctthemistakes,and moveforward."
Withheropen-minded,adapt-as-you-gophilosophy,the pioneeringCEOisprovingtobeanidealpilotforBarbados' trailblazingnewcannabisventure.Asthejurisdictionstakes itsclaim,alleyesareonRoberts-Odletohelpthetiny islandnationestablishamightyfootprintinaglobal industryprimedforexplosivegrowth.
Below are the interview highlights:
Couldyougiveourreadersaninsightintoyour companyanditsinceptionstory?
BMCLA’sinception,andIcanonlyspeaktothepartsthat I'mawareof.IthinkthePrimeMinisterofBarbados,the HonourableMiaAmorMottley,believesindriving innovationandmovingaheadwhereothersdarenot.
Shanika Roberts-Odle CEO
Barbados Medicinal Cannabis Licensing Authority (BMCLA)
MedicinalcannabisisoneofthoseareasthatBarbadoshas beentalkingaboutforalong,longtime,butpullingthe triggertocreatetheindustryalwaysseemedtobe somethingthatrequiredabitmorepoliticalbraverythan whatwaspreviouslyavailable.Andso,whenshepulledthe trigger,shedidsowiththeunderstandingthatitwasgoing tobesomethingthatwasgoingtobeaslowmarchtoward whereweneededtobe.Whatwasrequiredforsuccesswas anorganizationaimedatlayingthegroundworkforsaid
industry,withanunderstandingthatthereisalwaysgoingto beaneedtomakeadjustments,tomakechanges,andthat therewouldberisks.
Ithinktheinternationalmarkettrulyunderstandsthatthere isauniquenesstothecannabisspace.Evenwhenyoulook atwhathastrulybeensuccessful,therehavebeenlarge, hugecompaniesthathavefallen,tryingtodominatethis space,whilethemediumandsmallercompanieshave successfullybeennavigatingthiscannabisspacewithskill andgrace.Therearenotmanyindustriesintheworldin whichthisisthecase,andsotheinceptionofBMCLAis aimedatunderstandingthelandscape,bothnationally, regionally,andinternationally,andthenmakingthebest practicesworkforBarbados.
AttheBMCLA,westartedasavery,verysmallgroupof individualsplacedtogetherforthispurpose.Originally, therewerefourofuswomenwhostartedthegroundwork; thenwegrewfromfourtofiveandthendoubledtoten employees.ButeveryindividualattheBMCLAhasskills andtalentsthatdelveintoareasthatallowustobeunique inourspace.Forexample,Ihaveonepersonwho practicallyknowseverypossiblepersonthatweneedto knowinthisBarbadianlandscape.
Ihaveanotherwhounderstandsmarketingandframing context,branding,communication,andpubliceducation, whichisalwayshighlyimportant.Ihaveanotherindividual whoisfirmaboutdetails,andtherefore,becausethedevilis alwaysinthedetails,heismostdefinitelyessential.What wehavetriedtodoisensurethatwekeepouremployment numberssmallandourskillsetsveryhigh,andthatishow we'vebeenabletocometothispoint.Butthere'sstilla hugeroadlefttotravel,andwewillcontinuetodoso.
Whatmotivatesyoutoleadandinspireyourteam towardsachievingbusinessgoals?
LeadershiphasbeenoneofthosefunnythingsthatIfind myselfbeingsteeredintoandnotnecessarilystrivingfor.It hasbeenajourney.Onethatismetwithmeetingpeople wherethey'reat,understandingtheuniquenessofeachof myemployees,understandingwhattheirfailingsareand whattheirgreatachievementscanbe,andcraftinghowI respondtoeachoftheminamannerthatisuniquetothem butalsodistinctlyme,andthathasbeenwhereIhavebeen
abletomeetourinternalandexternalbusinessobjectives andgoals.
Ihavebeenable,inallofthosethings,tobeuniquely myself,andinbeinguniquelymyself,I'vebeenabletofind commongroundwitheverypersonthatwehavemetwith andtofindwhatmakesthatpersontick,whatthey're lookingforintheinteraction.Whatarewelookingforin thatinteractionandtofindthatmiddleground,thatspecial saucethattrulyleaveseveryonewalkingawaysatisfied fromaninteraction?AndthatiswhereIaimtobe.Wehave beenabletodothatwiththeUniversityoftheWest Indies—CaveHill.Wehavebeenabletodothatona licenseebasis.Eachofourlicensees.
Eachoftheirbusinessplansandmodelshasbeenunique. Andsowehavefoundourselveslookingathowwemeet themhalfwaywhilestillensuringthattheyunderstandthe needforcompliance.Theyunderstandtheneedtoconform butalsotoshine.
Eveninwhatwe'vebeendoing,therehavebeenhuge amountsofsetbacks,delays,issues,andproblems.Buteven inthefaceofallofthat,we'vebeenabletowalkawayfrom eachinteractionsuccessfullybecausewe'vegoneintoitnot justforourselvesbutalsoforourpartnersacrossthetable, treatingthemaspartners.Findingcommonground.Finding spacetoworktogether.Ibelieveandcertainlyhopethat whenthisisallsaid,thatisthesignaturethatIleaveonthis organization.
Howdoyoubalanceshort-termsuccesswithlong-term sustainabilityinyourbusinessstrategy?
IgiveittoJesus.(shelaughs)Butseriously,youhavetobe cognizantthatthedecisionsyoumakewillhave repercussions,andsometimesthoserepercussionsare beyondyou.Youalsohavetobewillingtowalkitback whenitisnecessary Thatmaysoundodd,butit'sthetruth. Youhavetobewillingto,asthecommonvernacularsays, standtentoesdownonbusiness.
Forme,decisionsthatItakehavetohaveshort-term benefitsandlong-termvision,butalsotheconstantand consistentunderstandingthatwehavetobeabletomakea shiftwhereitisnecessary.AndIthinkalotoftimespeople aresoinvestedinthesuccessofadecisionthattheyhave
takenthattheyareunwillingtosometimesundothat decisionwhereitisnecessary.Myplanisnevertobeso stuckinanywayonanyone'ssuccess,oranyoneposition, thatIamunwillingtomakeachangeforthelong-term successoftheorganizationandtheindustryitself.
Canyoushareasignificantchallengeyoufacedasa businessleaderandhowyouovercameit?
IthinkbynowtheissuethatIamgoingtouseisonethat everybodyfullyunderstands,whichisbankinginthe medicinalcannabisindustry.InBarbados,allofourbanks areUScorrespondentbanks,andwiththecurrentfederal lawsintheUSprohibitingmedicinalcannabissales,our bankshaverefusedtotakemedicinalcannabismoneyfor fearofupsettingtheircorrespondentbankingpartners. Wherethatleavesusisaninabilitytofindbanking solutionsfortheindustryinitscurrentstate.
I'vemetwiththeBritishBankingAssociationonthree(3) separateoccasions.Wehavegonetootherregionalpartners andhadthemgiveusinformationonhowtheywereableto dotheirbanking,forustothenbeabletoexplainthattoour localbankingauthoritywithregionalexamplesthatinclude methodologies,strategies,andaframework.
However,theresponsehasbeenprettymuch,‘Thankyou somuchforthatinformation,butwe'regoingtostaywhere weare.’So,asyoucanimagine,thathasbeenoneofthe biggestissuesthatwehavefaced.Thetruthis,wecontinue tofaceit.
Ican'ttellyouthat,atthispoint,thereisananswertothat problem.DoesthatmeanthatIamgoingtostoplookingfor ananswer?Not.Iamnotgoingtocontinuetolookfarand wideforapartnerwhomaynotbeinthecurrentBarbadian bankingsystembutwhomaybeinterestedinprovidinga legitimatealternativeandwhomaybeinterestedincoming solelytobethepartnerinthemedicinalcannabisindustry ortocreaterelationshipsandcontactsthatmaybeableto providethat.
We’vestartedthatsearchfromacrosstheregionandthe worldtolookforpartners.We’velookedintopartnerships withCanadaandEuropeforpeoplewhoalreadydealin medicinalcannabisfromabankingperspectivewhowould bewillingtocometoBarbados.Weareopentoanyonewho canfitthatbill;feelfreetocontactus.
IhavethesupportoftheBarbadiangovernmentthroughour PrimeMinister,MiaAmorMottley,andwiththecountry’s CentralBank,whohavebeenveryclearintheiradvocacy forthisindustry,soIamsurethatwewillfindasolution.
Howdoyoufosterapositiveandinclusiveworkculture inyourorganization?
Ihavesomedistinctadvantages.Onebeing,and,youknow, Isayitallthetime,andit'soneofthefewjoysIhaveinmy officetosayIhappentobetheyoungestpersoninmy office,whoworksdirectlyforthecompanythathasgiven mesomejoysandsomedowns.Butoneofthethingsithas allowedmetodoisbeabletorecognizethatthereisa wealthofknowledgeandunderstandinginthepeoplethatI workwith.
Somepeoplehaveanentirelifetimeofunderstandingof employeerelations,soIhavelearnedtoleanonthat,justas I'velearnedtoleanoneverymemberofmystaffintheir areaofexpertise.Thereisoneofmyindividualswhohas greatskillinmakingfriendswitheveryonehemeets,andI havelearnedfromthatthatwhenIneedtobeabletopull outwhatsometimescanbeanintrovertednature,Ican insteadexhibitmybest-extrovertedself-learningfromthat person.
Beinginclusiveformeislessabouttheideologyandmore aboutunderstandingthateachpersonhastheirownskill set—eachpersonhastheirpowerthatIcanleanintoand learnfrom,whichIhavefoundsometimesleadsthemtothe understandingoflearningfromyou.Ratherthanahard command,asoftwordwilldo.Butsometimesahard commandisnecessary.Soyes,thatismyposition: understandingstrengthandpowerineveryoneand,through that,inclusivityandacceptance.
Understanding the Basics of Business Management
Haveyoueverwonderedwhat
makesabusinesssuccessful? Runningabusinessinvolves morethanjusthavingagoodidea.It requiresoverseeingresources,making strategicdecisions,andbuildingateam thatcanhelpreachgoals.Business managementencompassesallthese tasksandmore.Thebasicshelp entrepreneurs,leaders,andaspiring professionalsunderstandthecore activitiesthatkeepacompany operatingsmoothlyandsuccessfully
Inthisblog,wewillshareessential insightsintobusinessmanagement, breakingdownkeyareastohelpyou understandwhatittakestoleadand growabusinesseffectively.
WhatisBusinessManagement?
Businessmanagementisthe coordinationofresources,processes, andpeopletoachieveacompany's objectives.Itincludesorganizingdaily activities,planninglong-term strategies,andmakingdecisionsthat affectthecompany’sfuture.Effective managementenablesbusinessesto
reachgoalsbyusingavailable resources,creatingefficientworkflows, andbuildingaproductivework environment.
Goodmanagersknowhowtobalance theseresponsibilitieswhilekeepingthe company’sgoalsandmissioninmind. Theyareskilledatbothplanningand executingplans,keepingeverything alignedwiththecompany’svisionand values.
TheRoleofEducationinBusiness Management
Educationcanplayavaluablerolein buildingbusinessmanagementskills. Manybusinessleadersfindthatformal educationhelpsthemunderstandcore managementprinciplesandbuild practicalskills.Forthoseinterestedin aflexiblelearningpath,abachelorin businessadministrationonlineoffers anexcellentoption.Thistypeof programallowsstudentstostudy fundamentalbusinessconceptsand applythemtoreal-lifesituations, preparingthemforavarietyofrolesin businessmanagement.
Plus,onlineprogramsmakeiteasierto balancelearningwithother responsibilities.Throughcoursework infinance,marketing,human resources,andoperations,students gainastrongfoundationthatequips themtotakeondiverseleadership roles.Thiseducationprovidesa structuredapproachtolearning, helpingstudentsbecomewell-rounded andskilledprofessionals.
PlanningforSuccess
Planningisoneofthemostimportant aspectsofbusinessmanagement.
Effectiveplanninghelpsbusinessesset cleargoals,createactionablesteps,and prepareforchallenges.Goodplanning involvessettingshort-termandlongtermgoals,identifyingtheresources
neededtoachievethem,andcreatinga roadmaptofollow
Leaderswhoareskilledinplanning thinkahead,anticipatepotentialissues, andcreatestrategiesthathelpthe companystayontrack.Planningdoes notstoponcegoalsareset;itisan ongoingprocess.Leaderscontinuously reviewandadjustplansbasedon resultsandchangingconditions.
OrganizingResourcesandTasks
Onceplansareset,organizing resourcesandtasksisthenextstep. Organizingincludesallocating resourceslikebudget,staff,and materialstodifferentareasofthe business.Thispartofmanagementis aboutmakingsurethateveryone knowstheirresponsibilitiesandhasthe toolsneededtoperformwell.
Organizationalsoinvolvescreatinga structurewithinthecompany,suchas settingupdepartments,teams,and workflowsthatsupportsmooth operations.Anorganizedworkplace allowsemployeestoworkmore efficiently,reducingconfusionand improvingproductivity.Effective organizationkeepseveryonealigned andfocusedonthecompany’sgoals.
LeadingandMotivatingTeams
Leadershipisattheheartofbusiness management.Leadersguidetheir teamstowardreachingbusinessgoals, actingasrolemodels,andproviding direction.Goodleadersbuildtrust withintheirteams,communicate clearly,andmotivateemployeestodo theirbest.
Motivationisakeypartofleadership. Amotivatedteamismoreengaged, productive,andwillingtoputinthe effortneededtosucceed.Leaderscan usedifferentmethodstokeeptheir teamsmotivated,suchassettingclear expectations,recognizing
accomplishments,andproviding supportwhenchallengesarise. Effectiveleadershiphelpsemployees feelvaluedandsupported,whichleads tobetterperformance.
Decision-MakinginBusiness Management
Decision-makingisacoreskillin businessmanagement.Leadersoften facechoicesthataffectthecompany’s future,fromhiringnewteammembers toenteringnewmarkets.Good decision-makinginvolvesanalysing information,consideringoptions,and makingchoicesthatalignwiththe company’sgoals.
Leadersmakedecisionsbasedondata, experience,andinputfromtheirteams. Bygatheringandevaluatingrelevant information,leaderscanmake informedchoicesthatdrivesuccess. Decision-makingalsorequires confidenceandtheabilitytotake responsibilityfortheoutcomes, whetherpositiveornegative.
HandlingFinancesWisely
Financemanagementisanother essentialpartofbusinessoperations. Managingfinancesmeanskeeping trackofincome,expenses,profits,and investments.Itincludesbudgeting, forecasting,andmakingsurethatthe companyusesitsfinancialresources responsibly.
Effectivefinancialoversighthelps businessesstayprofitable,avoiddebt, andinvestinareasthatsupportgrowth. Leaderswhounderstandfinancial principlesmakebetterbudgetingand investmentchoices,settingthe companyupforlong-termsuccess.
Financialhealthisvitaltoabusiness, soleadersneedtofocusonfinancial planningaspartoftheir responsibilities.
UnderstandingMarketingand CustomerNeeds
Marketingandunderstandingcustomer needsareimportantforanybusiness. Marketinginvolvespromoting productsorservicesandreaching targetaudiences.Leadersworkwith marketingteamstocreatecampaigns thatattractcustomersanddrivesales.
Understandingcustomersinvolves researchingtheirpreferences,habits, andfeedback.Leadersusethis informationtotailorproductsor servicestomeetcustomerneeds.By aligningmarketingstrategieswith customerexpectations,businessescan buildstrongrelationships,increase satisfaction,andboostloyalty.Leaders whograspthebasicsofmarketinghelp thebusinessstandoutincompetitive markets.
Problem-SolvingSkills
Problem-solvingisaskillthatevery leaderneeds.Inbusiness,issuescan ariseinmanyareas,fromemployee conflictstosupplychaindisruptions. Effectiveproblem-solvingrequires identifyingtheproblem,understanding itscause,andfindingpractical solutions.
Leaderswhoaregoodproblemsolvers staycalmunderpressureandthink criticallytofindthebestsolutions.This skillhelpsbusinessesovercome challengesandstayontrack.Problemsolvingalsoinvolvesbeingproactive andaddressingissuesbeforethey becomebiggerproblems,whichcan savetimeandresources.
EmbracingAdaptability
Adaptabilityistheabilitytoadjustto changesinthebusinessenvironment. Thebusinessworldisconstantly evolving,withnewtechnologies, trends,andchallengesemerging regularly.Leaderswhoareadaptable
canrespondtothesechanges effectively,keepingthebusiness relevantandcompetitive.
Adaptabilityincludesbeingopento newideas,learningfromexperiences, andembracingchangewhennecessary Leaderswhoareflexibleandwillingto pivotinresponsetomarketshiftshelp theirteamsnavigateuncertainties. Embracingadaptabilitymakes businessesmoreresilientandbetter preparedforfuturechallenges.
Intheend,businessmanagementis aboutmorethanjustguidinga company;itisaboutinspiringpeople, makingthoughtfuldecisions,and adaptingtochangeswithconfidence. Imagineaworkplacewhereevery actionisintentional,everydecisionis groundedinunderstanding,andevery challengebringsanewlesson.Asyou exploreoradvanceintheworldof businessmanagement,considerhow eachoftheseskillscanshapenotjust yourcareerbutalsotheimpactyou haveonothersandthesuccessyou helpbuild.
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Reimagining Capitalism: Ethical Challenges for Leaders
Increasingly,capitalismhasbeen
criticizedmorethanithasbeen extolled.Withthevarious successesassociatedwithcreative innovationsandeconomicgrowth undercapitalism,therehavebeenso manyseriousethicalchallengesthat leadershavehadtograpplewith.As societykeepsevolving,theclamorfor reimaginingcapitalismtoalignwith bothpeopleandtheplanetgrows louder Thisarticledelvesintothe ethicalchallengesofleadersinthis ever-changinglandscapeandtheirneed toaddressthem.
TheCurrentScenarioofCapitalism
Capitalismhasbeenthedominant economicsystemforcenturieswhere economiesarecharacterizedbyprivate ownershipandpursuitofprofit.As shownbytheWorldBank,globalGDP reachedabout$94trillionin2021, pointingouttheenormouswealth generatedunderthissystem,butalso showingitisnotspreadequally The richest1%oftheglobalpopulation commandsmorethan40%ofworld wealth,whilenearly10%oftheglobal populationsurvivesonlessthan$1.90 aday.Suchstarkcontrastsraisean imperativeethicalquestion:howdo leadersbalancemakingprofitswith socialresponsibility?
TheEmergenceofStakeholder Capitalism
Inresponsetotheseimbalances,many executivesareembracingstakeholder capitalism,shiftingtheemphasisfrom shareholderstoallotherparties workingtogetherinbusiness.Thereis nowrecognitionthatlong-termsuccess isthereforemergedwithsocialand environmentalwell-being.For instance,asrecentlyas2020, accordingtoMcKinsey,79%of surveyedexecutivesbelievethat
companiesshouldconsider stakeholders'interestswhilecreating valueforshareholders.
However,stakeholdercapitalismisnot aneasyapproacheither.Leadershave toaddressthedifferentdemandswhile makingsurethattheirfirmsturna profit.Thattoowoulddemand sensitivitytotheethicalconsideration aswellastothetransparency commitment.Forinstance,ifthereisa cost-cuttingstrategyinvolved,they needtobecarefulabouthowtheir choicebenefitsorhurtstheir employeesandcommunitiesacross thanmerebottom-lineconcernsofthe companyintheveryshortterm.
EnvironmentalAccountability
Amongthepressingethicalissuesthat leadersarefacingtodayintheir spheresofstewardshipis environmentalresponsibility.Climate changeisoneofthemajorthreatsto globalstabilityandeconomicgrowth. Humanactivitiessofarhaveincreased globaltemperaturesbyabout1.1 degreesCelsiussincepre-industrial times.Thewarminghasbeen associatedwithextremeweather,rising sealevels,andlossofbiodiversity-all intensifiedbyclimatechange.
Challengesaretobefacedsquarelyby leadersthroughtheimplementationof sustainabilityinbusinessmodels. CompanieslikeUnileverand Patagoniahavebeenboldinadopting actionstowardsustainabilityinterms ofthereductionofcarbonfootprint withethicalsourcingpractices. However,still,mostorganizations continuetofavorshort-termgains withoutinvestingmuchin sustainability Thatcreatesanethical dilemma:howcanleadersdefend actionsthatharmtheenvironmentfor immediatefinancialgains?
SocialJusticeandEquity
Othermajorethicalissuesinvolvedare socialjusticeandequity.Thepandemic hasexacerbatedallthenatural inequalities,havingadevastating impactonvulnerablepopulation groups.TheInternationalLabour Organizationstatedthatglobal workinghoursdeclinedby8.8%in 2020fromthebaselinefigures recordedbeforethepandemic,which means255millionfull-timejobswere lost.Thecurrentcrisisbringsabout changethroughsystemicreformations initiatedbyleadersintheir organizations.
Leaders,therefore,shouldaimat havinganembracingworkplacewith diversityandequity Thisisnotjustat thepointofhiringbutalsohavingan organizationalculturethat acknowledgesdifferentaspectsand experiences.Accordingtoresearch, diverseteamsaremoreinnovativeand financiallyperformance-driven,and companiesinthetopquartilefor genderdiversityonexecutiveteams are25%morelikelytoexperience above-averageprofitability.
EthicalLeadershipinPractice
Theethicsofleadershipinsuch situationsdemandsmoreethical leadership.Leadershipdemands transparencythroughhonestdecisions andaccountabilityfortheirdeedsby leaders.Ofcourse,ethicalleadersdo valueintegrityovertheexpediencyof amomentarygainbecausenoshorttermgainscaneverfullycompensate fortrustlost.
Inaddition,anethicalculturemustbe establishedintheorganization. Trainingprogramsaimedatethical decision-makinganddissuading workersfromgoingalongwith unethicalpracticesshouldbeputin placeandmustnotbeallowedto
retaliateagainstsomeoneformaking thatcall.AccordingtoaHarvard BusinessReviewarticle,companies withstrongethicalculturesalso performbetterfinancially.
Technology
Thesametechnologythatonceagain mayimaginecapitalismandcansolve themanyethicaldilemmasonitleads toefficiencyandinnovationthrough theuseofartificialintelligencebut potentiallymeansjobsandlossof privacy-justthere,paradoxesleaders havetotreadon.
Forexample,whileautomation continuestoreshapeindustries,therole ofleadersistoensurethatworkersare retrainedtotakeonnewrolesrather thanbeingleftbehind.McKinsey GlobalInstituteestimatesthatby2030, upto375millionworkersmayneedto switchoccupationalcategoriesdueto automation.
Conclusion
Inherently,anewkindofcapitalism meansthattherolesandfunctionsof leadershavetochange.Hence,itis stakeholderinterests,environmental sustainability,socialjustice,andethical leadershippracticethatwillcreatea moreequalandresponsibleeconomic system.Althoughdifficultiesarenot lacking,anewvisionofcapitalismcan allowtransformativechangethataligns profitwithpurposeandpromotesa healthierplanetforfuturegenerations.
Indoingthis,ethicalleadership,which shouldbebothbeneficialand necessaryforthecomplexitiesof capitalistsocietiestoday,isbecoming moreandmoreimperativeassociety continuestoevolveintosomething altogethernew
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