The key to organisational growth is strategic corporate mentorship, Richard Dugan, president and Chief Executive Officer of McOttley Holdings, Richard Dugan, has said.
He said: “An important element that can serve as a catalyst for organisational growth is the adoption of formalised corporate mentorship programme that focuses on enhancing the capacity of employees, giving them responsibility, empowering them to take decisions and holding them accountable for those decisions.”
Mr. Dugan was speaking in an interview after he was awarded as the ‘Manager of the Year’ at the Prime Business Destination Forum and Awards ceremony organised by the European Business Assembly in Germany.
At the event, McOttley Capital was also awarded the prestigious ‘Best Enterprise Award of the Year’ for its strong position in the national market, the company’s status in the international ratings, the utilisation of modern management technologies, high staff qualification levels and a successful marketing strategy.
Mr. Dugan said the decision to enhance the capacity of employees must be part of a well-designed mentorship programme where experienced mentors were identified within the corporate environment to lead less experienced employees.
“Our approach at McOttley is simple; identify talents and give them responsibilities to execute higher order tasks, monitor them for a while, if we realise they are struggling with the tasks, a more experienced member of staff is brought in to lead the team for a maximum of six months so they can serve as mentors to the young leaders,” he said.
Mr. Dugan also advised that even though it was critical for entrepreneurs to understand and monitor every facet of their business operations, they should not focus on being micro-managers but they should bring in expertise and also deploy systems and structures that ensure efficiency and accountability.
“We are a holding company with three subsidiaries operating under the McOttley brand and we have ensured that each strategic business unit is led by experts who are empowered to take decisions but are also ultimately responsible and accountable for those decisions,” he added.
McOttley Holdings Limited is company with subsidiaries namely McOttley Capital, McOttley Money Lending and McOttley Properties.
In 2016, McOttley Capital was named ‘Ghana’s Best Growing Investment Bank’ in addition to being named the ‘Best Boutique Investment Bank’ by Capital Finanace International (CFI).
McOttley Capital focuses on fund management, asset finance, corporate finance, pension funds management, venture capital financing, private equity management and investment advisory services aimed at servicing the short to long term investment needs of clients whilst McOttley Money Lending focuses on providing timely loans to SMEs through simplified and fluid loan management processes.
McOttley Properties one of the subsidiaries of the Group focuses on the development of contemporary and cost effective properties, mainly villas and smaller middle to high end homes, commercial fully serviced offices for long and short rental. It also conducts property valuation, mortgage finance advisory service, real estate project management and property management.
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