Managing change

Based on recent trends, it seems that things are not going to change very soon. Instead, decision-makers should prepare themselves to navigate a VUCA world. Volatile, Uncertain, Complex and Ambiguous is more than ever the order of the day.

For sure, when a nation has achieved fifty one years of uninterrupted growth, you are tempted to sit back, relax and enjoy the flight as airlines would usually recommend. But unfortunately, this is not the best way to tackle what is lying before us. By just looking at the sugar and textile sectors these days, we already have a glimpse of how the local landscape will look like going forward.

Transitioning our economy from its current state to a more competitive one will require much more than a miracle. It will take a start-up spirit to turnaround Mauritius incorporated.

With a population of 1.3 million people, Estonia is a great example of what can be achieved when we put our heads together. The tiny Northern Europe country is today among the most digitally-advanced societies in the world. With no natural resources, it decided after its independence to pave its way forward by investing massively in technological innovation and an online economy.

The question here is not about being a copycat. It is about inspiration to review an economic model that has worked in the past in order to leapfrog a country which has for too long been stuck in the middle income trap. At this critical juncture, we can’t shy away from our responsibilities of building a momentum among Mauritians to overcome the inevitable challenges of globalisation.

It is up to us to decide whether we rise together by modernizing the country’s decision-making process or we fall together by failing to unlock future growth.