TALENT, TECHNOLOGICAL INVESTMENT, AND SUSTAINABILITY ARE KEY INGREDIENTS TO SUPPORTING GUATEMALA’S SUCCESS.
One of the silver linings of the COVID-19 pandemic has been the increased growth of talent transformation, technological innovation, and entrepreneurship processes, both within companies and society in general. The safety measures adopted to slow the disease’s spread created new opportunities to reevaluate processes, take on new challenges, and promote internal and external entrepreneurship processes.
According to figures from Francisco Marroquín University’s Global Entrepreneurship Monitor 2020/2021 and 2019/2020, 39.9% of Guatemalans are currently entrepreneurs. Of these, a little over half are in an early stage of entrepreneurship (i.e., developing business initiatives founded less than 3.5 years ago that, for the most part, do not generate consistent income streams for their owners).
Furthermore, in the first year of the pandemic, 38% of those interviewed for the monitor indicated that they knew of more than five people who had started businesses that year. Some sectors, such as the textile industry, took advantage of the pandemic to diversify their product offerings, beginning to produce personal protection items such as masks, gowns, hats, and more. In other words, they created new opportunities for the country’s industry, finding alternatives to survive the pandemic.
This context shows our country’s potential to develop through resilience, work, and innovation. These are elements we should continue to promote strategically and systematically to ensure our growth is not just a collateral effect of the challenges posed by a difficult situation, but rather a long-term plan to create better conditions and opportunities in Guatemala that we can all work toward in our own ways.
So, now that we are beginning 2022 and most of us have grown accustomed to living with the pandemic, it is important to reflect on the ideas that will make a difference in the year ahead. We should no longer focus on mitigating the effects of the crisis, but on resuming the journey toward leadership and growth that Guatemala has been on in our collective efforts to create an environment full of development opportunities. Throughout this process, it is key to prioritize talent, investments in state-of-the-art technology, and a commitment to sustainability in order to continue driving economic growth and the social development of our people.
First, we must recognize the passion and commitment of our work teams. This is fundamental to realizing the success of our society and the common purpose of all Guatemalans. Encouraging excellence and providing the tools necessary to achieve it are the best ways to develop teams with the potential to build a legacy. People who act with congruency and integrity, who are authentic in what they do, are the best way we can ensure our operations will be unmatched in their quality.
Second, encouraging investment in state-of-the-art technology to increase business productivity is a fundamental part of helping prepare our industries for a likely increase in consumption. Encouraging the adoption of these cutting-edge technologies facilitates increased competitiveness and productivity, therefore also encouraging the development of new national businesses and the search for internationalization opportunities. Together, these factors create more and better environments of opportunity for generating employment, increasing competitiveness, and specializing our economic activity as a country.
Third, a commitment to sustainability is an essential part of our companies’ visions for the future. This should not only be a way to slow climate change, but also a tool to enhance the value creation that consolidates our distribution channels and customer experiences. The past two years of lockdowns and restrictions have given people time to reflect on the nature of their consumption habits. As a result, today’s consumers prioritize more conscientious and responsible behavioral models. In this new scenario, people demand higher levels of transparency from brands in terms of their processes and institutional values.
For these reasons, I believe 2022 offers a golden opportunity for Guatemalan industries and companies to take on the challenge of continuing to lead our society’s success, using the advantages offered by investments in technological innovation and a commitment to sustainability to do so. We must take advantage of the positive trends the pandemic has accelerated to raise the bar for our operations as we work toward our country’s success. Today, I invite every business person and entrepreneur reading this to take on the challenge of becoming an engine that drives success for all Guatemalan society.
