Kwame Nkrumah University of Science and Technology (KNUST) School of Business (KSB) of the College of Humanities and Social Sciences (CoHSS) has held the “Third Professionals and Practitioners Engagement Series.” The event was on the theme: “Understanding the Dynamic Business Environment: The Practitioner Perspective.”
The 3rd KSB Professionals and Practitioners Series saw seasoned and accomplished industry persons such as the Chief Executive Officer of Boris B’s Farms and Veterinary Supplies, Dr. Boris Baidoo, Senior Supply Chain Manager of Newmont, Atoapem Barimah Frimpong, the Customer Service Manager of Ecobank, Tanoso, Mrs. Elizabeth Owusu Yeboah. Others were an Investment Banker at FINCAP Securities Limited, Selasi Kofi Adu, and Melchizedek Owusu Boachie, Sales/ Marketing Manager, at Opemsuo Radio.
In his opening remarks, the Provost of the CoHSS and Chairman for the event, Professor Charles Ofosu Marfo commended the faculty for their foresight in organising the event to bridge the gap between academia and industry. He noted that Ghana’s dynamic and changing business environment presents opportunities for young people. He hoped the discussions from the panel would help the students gain more meaningful insights into the business environment to help them make good career decisions.
The Dean of KSB, Professor Ahmed Agyapong, said the KSB recognising the need for practitioners to impart students has successfully engaged professionals and practitioners since the inception of the School. The third in the series has drawn professionals and practitioners with rich experience and knowledge in their chosen fields in Ghana’s business environment. According to Professor Agyapong, not only will the discussants help bridge the gap between academia and industry but also how both parties can contribute to the business landscape.
In a panel discussion concerning tax regimes, Mr. Selassie Kofi Adu, an investment banker, emphasised the role of taxation as a resource for governmental development initiatives, underscoring the importance of ensuring that tax policies do not impede business growth. Kofi Adu advocates for exempting savings and investments from taxation to foster economic expansion. Dr. Boris Baidoo concurred, asserting that taxation is pivotal for national development, citing examples of advanced nations effectively utilising tax revenues for infrastructure and developmental projects. Dr. Baidoo affirms that tax compliance is integral to his business ethos, ensuring that his company contributes to Ghana's development while remaining profitable.
Contributing virtually, Mr. Atoapem Frimpong asserted that tax obligations accompany developmental progress, urging both indigenous and multinational enterprises to embrace taxation without hindrance. Mr. Frimpong underscored the necessity for companies to adopt robust supply chain risk management strategies, citing research indicating a lack thereof among many businesses. He highlighted his organisation's proactive approach to research, monitoring, and supply chain management, ensuring operational resilience. Melchizedek Owusu Boachie acknowledged Ghanaians' willingness to pay taxes but warned against disproportionately high tax burdens on select businesses. He discussed the intensified competition within the media industry due to technological advancements, advising students to leverage these changes for professional advancement.
Addressing the financial and banking crisis faced by some indigenous institutions, Mrs. Owusu Yeboah emphasised the importance of continued public trust in banking despite crises, advocating for increased savings among young individuals. Selassie Kofi Adu reiterated the significance of financial sector engagement, urging the students to prioritise savings and diversified investments. He acknowledged prevailing investor uncertainty but advised informed decision-making with the guidance of competent advisors.
Dr. Boris Baidoo delves into employment dynamics, emphasising the role of fair compensation in fostering employee satisfaction. Drawing from personal experience, he advocated for a learning-oriented mindset among fresh graduates, urging them to glean wisdom from experienced colleagues. Dr. Baidoo encouraged employees to approach their work with a sense of ownership and dedication, transcending educational backgrounds to achieve success. He also underscored the potential for individuals to surpass career expectations, citing successful entrepreneurs without formal education.
On building their capacities for the job market, Dr. Baidoo stressed the importance of open communication and empathy in understanding employee needs. Selassie Adu Kofi underscored the demanding nature of investment banking in Ghana's economy, emphasising integrity, diligence, and adaptability as essential traits for aspiring professionals. Mr. Owusu Boachie advocated for patience and emphasised the value of experiential learning over academic qualifications. Mrs. Owusu Yeboah underscored the significance of loyalty and dedication in fostering positive employer-employee relationships.
In addressing academia's role in workforce training, Mrs. Elizabeth Owusu Yeboah advocated for the curricular integration of entrepreneurial, innovative, and corporate culture skills. Selassie Adu Kofi called for graduates to be equipped with strong analytical skills and emotional intelligence. Mr. Owusu Boachie emphasised the necessity of coaching and mentorship, particularly during national service and internship programmes.
In discussions on digitalisation, all the participants acknowledged technology's pivotal role in enhancing productivity and business expansion. While recognising the benefits of digitisation, they caution against its potential negative ramifications and underscored the irreplaceable role of human ingenuity despite advancements in artificial intelligence and robotics.
The event featured insightful discussions led by the panellists, addressing diverse business topics. The event was moderated by Professor Hannah Vivian Osei and Professor Henry Kofi Mensah from the KNUST Business School.
