Businesses suffer from 'management and leadership deficit'

NI businesses suffer from a ‘management and leadership deficit’ which has the potential to stunt current and future economic growth, according to business leader Brian Ambrose.

Speaking at a major business summit at the Culloden Hotel Brian Ambrose, Chief Executive of George Best Belfast City Airport and board member of the Management and Leadership Network said: "Whilst the Northern Ireland economy continues to perform well, with employment at a record high we still need to double our economic performance to come close to matching our counterparts in the south of Ireland for example”, said Ambrose endorsing the theme of the business summit ‘For leaders aim higher’.

"We are deluding ourselves if we think that we can continue to rely on the public sector to sustain our economic activity without small to medium enterprises investing in management and leadership capabilities essential for higher growth and profitability."

Research by the Department of Trade and Investment (DTI) has revealed that around 74% of Northern Ireland enterprises have fewer than five employees indicating the extent of the challenge in stimulating significant economic growth. Ambrose points to a significant ‘management and leadership deficit’ which needs to be closed if small to medium enterprises are to be the source of increased economic activity.

The business summit brought to a conclusion Management Month; a month long initiative aimed at stimulating investment by businesses in management and leadership capabilities as part of their business growth strategies. Over two hundred and fifty business leaders gathered for the summit to be inspired by internationally renowned business guru René Carayol who said: "Northern Ireland is certainly leading the UK in your innovative approach to promoting the bottom line benefits of investing in leadership and management capabilities. I have high expectations that businesses across Northern Ireland will embrace the fact that management skills are at the heart of every successful company."

Pointing to the government’s recent Leitch report, Professor Robert Hutchinson, University of Ulster, Dean of the Faculty of Business and Management, Northern Ireland’s Business School, a partner and speaker at the business summit, indicated that like other parts of the UK, Northern Ireland business needs to raise its leadership capabilities to be able to compete against foreign competition both locally and internationally.

"The prize of greater investment in leadership and management capabilities not only for small to medium enterprises but for the whole economy is accelerated growth and productivity. The potential for significant growth relies on our ability to release the potential of our aspiring and current leaders through management development. The challenge still remains for business to see leadership and management development as a long term investment, rather than a one off opportunity."

It is estimated that over 2,000 people participated in over 50 management month events which took place throughout Northern Ireland.

Other speakers at the business summit included local business leaders: Andrew Lowden (Glenaden Shirts), Eileen Sowney (AIB, UK) and entrepreneur Hugh Daly.

(JM/SP)