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Lessons of the decade Robert Sands

The Guardian asked leading figures in the Bahamian business community what they believe the most significant lessons of the first decade of the 21st Century were.

Robert Sands, senior vice president of governmental and external affairs at Baha Mar, rounds out the series and shared his top lessons withGuardian Businessin an interview on Thursday.

“I think the biggest lesson, certainly in the last 10 years, is that change is a constant,”Sands said.

He added that companies must be prepared for change, and be innovative to easily adapt to the changing business environment. They should have learned never to find themselves inflexible when the business environment demands that they react to new realities.

“I think operating more productively, leanly, is also a big lesson for the future”according to Sands. To accomplish this productive leanness, Sands said companies must have multi-talented personnel to help it accomplish its goals, and added,”I think this is the new normal for the future.”

“I think the reality is that we may have been comfortable with having quantity rather than quality in terms of hires in the past, and with the volatility of business levels and yields of companies that the investment in highly qualified, highly productive, highly multi-talented staff may be a better investment for the future.”

Another key lesson, which Sands termed as a’prerequisite for sustainability going forward,”is that businesses should understand now that they must be financially sound enough to withstand any turbulence going forward.

“The ability to take shocks that may happen from time to time is absolutely critical for companies to advance,”he said.

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