During the 17th International Hospitality and Tourism Management Conference held in Lagos on the 19th of September 2023, Mr. Chinenye Mbauzoukwu emphasized the importance of vision and capacity building when aiming to bring about change within an industry. He noted that ideas, coupled with the development of human capital, are key drivers of the industry.
He highlighted the fact that a significant percentage of software developers today are self-trained, underlining the need to build the capacity to realize the innovative ideas within the industry.
Mbauzoukwu stressed that experimentation is crucial for progress. He urged industry professionals to be ready to try new ideas and be willing to accept failure as part of the learning process, emphasizing that creating opportunities for failure is vital. Learning from these experiences leads to consolidation and allows the industry to build on what’s already in place.
The speaker addressed the scaling challenges faced in Nigeria’s various endeavors, attributing these challenges to a lack of capacity. Scaling, according to Mbauzoukwu, is a problem within the country, despite abundant opportunities, and he emphasized the need to build the necessary capacity to overcome these hurdles.
Innovation and leadership were highlighted as essential components of industry growth. He emphasized that every ecosystem is driven by leadership and that organizing regular events can create a sustained industry. Recognizing and celebrating role models within the industry can further inspire growth.
Mbauzoukwu urged industry professionals not to solely rely on regulation for industry growth. Instead, he emphasized the need to build value that naturally attracts individuals to join the industry. He suggested creating a website listing all events in Nigeria to facilitate industry engagement and networking.
The speaker concluded by stressing the importance of not working alone but rather collaborating with professionals. He encouraged the industry to come together to drive change and growth, emphasizing the power of collective effort and shared expertise.
