In this podcast Patrick Awuah talks about winning through innovation on CitiFM as part of their Management Development Month program. The CitiFM Management Development Month is part of the Citi Breakfast Show hosted by Bernard Avle.
This is a really good conversation that Bernard had with Patrick Awuah. I am sure you know about Patrick Awuah, the founder of Ashesi University. Next time I feel inspired to listen to it again, I'll take notes and share with y'all. In the meantime, you should stop all that you are doing and listen to this one if you haven't.
Catch Bernard on the CITI FM Breakfast show. Listen here
Wow! what a conversation! If i taught in a Ghanaian institution, this talk would be a requirement for all my students (not kidding). One can't emphasize the need for innovators to differentiate! Let's think about Kwame Despite's Peace Fm's solid success (as Paa Kwesi brings to our attention in one of his articles). Kwame could have chosen to follow JOY FM and "brofolize" but he strategically decided to go for that man who can't even recite "ABC" (this may be an exageration but close). I still wonder why there is no FM station that targets mainly the muslim community.
When firms differentiate, it lessens competition and provides safety net (a niche) for these differentiated firms: Thus all these differentiated firms could survive and prosper: (this is what Patrick calls a win-win-case and i prefer to call "Di bi ma me di bi" (chop some make i chop some)). We get the zero-sum game case when all firms sell the same type of goods (I see this case a lot in Kumasi central market: 2 market women, sitting close to each other and selling the same type of toothpaste. Meanwhile, one of them could have sold pepsodent and the other, Maxam!)
Gyasi K Dapaa
At first I was confused by this posting because of the hyperlink "listen here".
This type of managerial knowledge and experience is often priceless; thanks to the ghanaconscious team for making it available.
In addition to a requirement for students, this audio file should be considered mandatory reading for all members of ghanaconscious. There would be no more posts belittling the importance of innovation. :):)
Very insightful, and put in language and form that anyone can understand. I particularly found his "definition" of a good stratergy to be quite interesting: he said something to the effect that "a good stratergy is one in which competitors can co-exist and still do well". I found this interesting because people too often settle for the Kumasi Central Market style of things as Mr. Dapaa pointed out above. This way of doing things is almost a way of life or a state of mind for lots of Ghanaians (It's almost like "It's not broken, don't fix it!") and leaves our country stagnant. Also, it would be a good thing if more of the "rich" and "elite" in Ghana put their money towards innovative ventures, rather than cannibalize the small, grassroots intrepreneurs only to make a little more money.