Strategic leadership skills: A vital requisite for every modern business
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Strategic leadership skills: A vital requisite for every modern business

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Opportunities arise and so do leadership responsibilities to embrace them. The larger the opportunity — if you possess the leadership qualities to capitalize on it— the more unpredictable the environment. We all want to be more productive, and being the appropriate type of leader is a big step toward that goal. Strategic leaders understand how to both coach and empower staff to make smart business decisions and to imply strategic leadership at the workplace. These leaders are also adaptable but firm when the circumstance demands it, tenacious in the face of distress, inventive in problem-solving, and prepared to question their preconceptions.

Increased employee engagement and workplace satisfaction are all decrees of strategic leadership and management.

What is the significance of strategic leadership? What qualities do strategic mentors possess? Let’s take a quick look at them.

Challenging current issues

The status quo is regularly challenged by strategic leaders. Is there a better way to finish a specific task? What could be done to improve team trust and cohesion? They are non-partisans and embrace opposing perspectives, even if they are the ones being questioned.

If you are a present or a potential strategic leader, you must try focusing on the origins of an issue rather than the symptoms or effects if you want to improve your ability to challenge preconceived assumptions, told Maodong Xu, a serial entrepreneur, angel investor, and inventor. He is a founder of multiple companies and have invested in close to 200 technology companies, including a world’s leading VR headset manufacturer, the largest Chinese e-copyright agency publisher, a leading mobile game developer and operator, a leading big data company, the largest shared kitchen in China. Create a list of the company’s existing assumptions and critically consider them. Maybe your clients aren’t staying with you because you’re the greatest deal. Focus group discussions where no one has a stake in the outcome will help you expose any difficulties because individuals can be truly objective in these settings.

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Anticipating trials

Strategic leaders need to be proactive and not completely reactive. They must anticipate and prepare for obstacles. On the outskirts of the business, they must look for possibilities or risks.

Understanding your customers and working on their reviews is essential for this. Conduct market research to learn more about your competition, or look for a particularly successful competitor to study your differences with. Examine any recent clients you have lost and try to figure out why they left.

Understanding ambiguous data

As a professional in strategic leadership and management, you must be able to comprehend complex material. This necessitates sorting through divergent opinions, detecting patterns, seeking new solutions, and remaining unfazed by ambiguity. You need to work on the big picture as well as pay attention to small details to improve this skill. Look for evidence that contradicts your beliefs.

When dealing with confusing or contradictory material, attempt to come up with at least three possible explanations for each jigsaw piece. Talk to folks that disagree with you to get a different perspective. Interpreting ambiguous facts, like learning to question established beliefs, necessitates maintaining an open mind. Take a walk, shift your focus to some fun activities or do anything else unrelated to the problem at hand if necessary. This is the best way to stay creative and objective, rather than getting stressed while solving problems.

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Being conclusive

As a strategic leader, you will frequently be asked to make difficult decisions with limited time and information. Critical leaders must be capable of following a method that balances speed and precision while giving them confidence in their conclusions.

You need to ask yourself some vital questions if there are any shades of grey in decisions that were previously described as having a yes/no answer to become a better decision-maker. Break down decisions into their constituent elements and try to grasp them from scratch. Make it clear where you stand in the process of decision-making. Are you still accepting suggestions or are you attempting to finish up?

To sum up…

Being a genuine strategic leader entails consistently employing the talents listed above, and identifying and correcting flaws as they develop. When you exercise these abilities regularly, you will build a more cohesive, trusting, and confident team, which will lead to higher productivity and business success.

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FIA inquiry: MNA withdraws case against ‘business partner’

Madison Franz

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FIA inquiry: MNA withdraws case against ‘business partner’
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KARACHI: Pakistan Peoples Party MNA Dr. Mehreen Bhutto has finally struck a compromise with a businessman after a falling out during which the MNA registered a fraud case against the latter for fraudulently declaring her partner in a business venture. The MNA is already facing FIA inquiry into assets beyond means.

According to the official documents (available with The News) PPP parliamentarian Dr. Mehreen Bhutto along with her three brothers is facing an inquiry from the Federal Investigation Agency (FIA) about accumulating wealth beyond known sources of income that included partnering with a travel agency. Bhutto had lodged a fraud case against her business partner, his spouse and other family members.

MNA Mehreen Bhutto lodged an FIR at Clifton Police Station, Karachi, on August 4, 2022, against her business partner Asadullah Shaikh, his wife and other directors of M/s AAA Travels for enlisting her as one of the directors of the business without her knowledge and consent and blamed them for misusing her CNIC, passport and other documents. Bhutto in her FIR quoted a news story published in ‘The News’ on August 4, 2022, to claim that she came to know through a news report that she was a director at AAA Travels and claimed it was all done without her explicit knowledge. She also claimed that she neither signed any document nor received any benefits from the company.

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The case was sent to the Court of Civil Judge and Judicial Magistrate-V, Karachi South, Mazhar Ali for trial, where after some hearings the judge accepted the compromise application filed by MNA Bhutto by informing the court that a compromise has taken place with her ‘rival’ group. During the pendency of the trial, the accused Asadullah Shaikh told the court that the case against him and his family was fake and was registered using her political influence. He told the court that MNA Bhutto was a willful partner who regularly received monetary benefits but disassociated herself from the business when the FIA started an inquiry against her. The court approved the settlement on Tuesday, November 15, 2022.

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The FIA initiated the inquiry in 2019 against the PPP MNA when in 2014, a complaint was filed against MNA Mehreen Bhutto and his three brothers alleging mega corruption. During that period, despite many notices served under Section 160 of the Criminal Procedure Code (Cr.PC) MNA Bhutto did not appear before FIA, Sindh, Zone-II. Following the application of out-of-court settlement in October, MNA Bhutto and her three brothers appeared before the enquiry officer FIA-Sindh Zone-II and recorded their statements.

This reporter approached MNA Bhutto and her business partner Asad Shaikh for their versions, called at their cell numbers, and then sent them detailed text messages at their WhatsApp number but till the filling of this news story, both avoided responding.

 

 

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IMC raises Toyota vehicle prices

Madison Franz

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IMC raises Toyota vehicle prices
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KARACHI: Despite the low cost of import on account of the rupee’s recovery against the dollar in the last one and a half months, Indus Motor Company (IMC) has increased prices by Rs190,000-700,000.

In the last week of September, one dollar was trading at Rs240 but it plunged to Rs214-215 after Ishaq Dar was made finance minister.

IMC, in its letter to the authorized dealers, said the vendor cost of production has significantly soared due to economic uncertainties and inflation in the raw material cost. In addition, uncertainty in currency fluctuation, and increase in utilities and other overheads have also impacted the cost of manufacturing.

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The new price of Toyota Corolla 1.6 CVT and 1.6 CVT U/S is Rs4.979 million and Rs4.789mn, up by Rs190,000 and Rs200,000, respectively.

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Hilux 4×2 standard, U/S, Deckless, 1.2TR, 4×4, and III Standard now carry a price of Rs5.959m, Rs5.989m, Rs5.529m, Rs5.739m, Rs7.879m and Rs9.069m, showing a jump of Rs400,000-620,000.

Published in theodysseynews, November 19th, 2022

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Wood, timber import: certain conditions suspended

Madison Franz

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Wood, timber import: certain conditions suspended
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ISLAMABAD: The government has suspended import conditions for certain categories of timber and wood till March 31, 2023 on the request of All Pakistan Timber Traders Association (APTTA), sources close to Secretary Commerce told Business Recorder.

Sharing the details, sources said, the conditions for import of plant and plants materials including timber/ wood had been incorporated in Part-IV of Appendix-B, Import Policy Order (IPO) 2022 on the recommendations of Department of Plant Protection (DPP) of Ministry of National Food Security & Research.

The conditions were (i) Import Permit (IP) issued by DPP, (ii) SPS certificate issued by National Plant Protection Organization (NPPO) of the exporting country, and (iii) Plant Protection Release Order (PPRO) issued by DPP.

According to Commerce Ministry, Karachi Timber Merchant Group had approached Commerce Ministry requesting to extend the date of implementation of conditions of import permit and plant protection release order for the import of timber and wood falling under PCT Codes 44.01 to 44.09, as provided under Sr. Nos. 385 to 44O of Part-IV of Appendix-B, IPO 2022.

The sources explained that the conditions could not be met for the already arrived shipments because those consignments were supplied against contracts entered into months ago. Consequently, the Federal Government, in light of the decision of ECC of the Cabinet and its subsequent ratification by the Cabinet, suspended operation of Import Policy provisions contained in Sr. No. 386 to 44O of Part-IV, of Appendix-B, Import Policy Order 2022 from the date of issuance of IPO, 2022 to August31, 2022.

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Timber, wood: Import conditions under IPO suspended

All Pakistan Timber Traders Association had again approached the Ministry with the request to suspend the import conditions and restrictions on wood and timber in tariff classes 44.01to 44.09 for all the “Bills of Lading issued until June 30, 2023”. The APTTA argued that any decision made in haste would destroy the entire wood business sector (H.S Code 44.01 to 44.09) causing damage to a large number of industries that rely on wood as a basic raw material including the construction industry which was connected to 45 to 50 other industries.

Ministry of Commerce maintained that in order to facilitate the import of wood/ timber, it is requesting the government to direct the DPP to review the conditions for import of wood and timber and bring them in conformity with the international best practices so that the import of wood and timber was not subjected to unnecessary and cumbersome procedures.

Ministry has proposed that the date of implementation of IPO 2022 regarding import of timber and wood falling under HS Codes 4401 to 4409 (Sr. Nos. 386 to 440 of Part-IV, Appendix-B, IPO 2022) may be suspended till June 30, 2023, i.e., for the Bills of Lading issued till June 30, 2023 or formulation of the procedure by the DPP whichever is earlier.

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Ministry of National Food Security and Research (MNFS&R) supported the proposal; however, with the condition that no further exemption would be supported after June 30, 2023 and that the import condition in Import Policy Order and Plant Quarantine Act, 1976 and Plant Quarantine Rules, 2019 would be enforced in letter and spirit after 30 June, 2023. It further required that the importers of timber should be advised to plan future imports, accordingly.

The sources said the Economic Coordination Committee (ECC) of the Cabinet recently approved the proposal of Commerce Ministry and decided that the date of implementation of IPO 2022 regarding import of timber and wood falling under HS Codes 4401 to 4409 (Sr. Nos. 386 to 440 of Part-IV, Appendix-B, IPO 2022) shall be suspended till March 31, 2023.

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