Issue link: https://maltatoday.uberflip.com/i/1495665
OUR armed forces have just seen their naval assets being upgraded to an unprec- edented level with the most extensive in- vestment ever made. Costing €53 million and co-financed by the EU, the offshore patrol vessel P-71 is undoubtedly proof that this administration assiduously sup- ports and believes in our military's com- mitment and competence to uphold our national security. I shall not bore you with the P-71's tech- nical specifications. I shall only point out that this is the first vessel that has been exclusively tailor-build to cater to the Armed Forces' needs. Long gone are the days of accepting the second (and third) hand of others for our disciplined forces. During the past few years, our Armed Forces personnel can vouch for the in- vestment in the island's security. We have ensured that our military has adequate continuous training, the proper tools, im- proved salaries, and enhanced working conditions. Indeed, this year the Armed Forces have been allocated €1.4 million to provide our soldiers with training opportunities in overseas military academies and facilities. More than a €1 million have been allot- ted to provide better training and accom- modation facilities, including guard posts. We have also ensured that the army's medical centre in Ħal Luqa is more than appropriately upgraded with personnel and equipment. At the same time, an up- graded dispensary will further integrate the medical facilities to army personnel. Moreover, the government is adhering to the provisions of the first-ever sectoral agreement signed with the Armed Forces. To this end and amongst other benefits, for the first time, the soldiers are being paid for the work incurred beyond the 40 hours weekly. Recently, this was bettered through another agreement of €1 million yearly in compensation for the extra du- ties worked by the soldiers in the ranks of Majors to Gunners. The AFM's Airwing has also seen its ca- pabilities augmented with new and mod- ern technology to increase its operational capabilities. With an outlay of €10 million, the airwing will invigorate the crucial maintenance programme on its assets. The government also mitigated the much-neglected infrastructure to provide proper berthing facilities at the Haywharf base to cater for its search-and-rescue ves- sels MELITA 1 and MELITA 2 and the rest of the offshore patrol vessels belonging to the maritime squadron. In Gozo, similar works are underway to provide similar fa- cilities at the AFM's base in Qortin. One of this administration's top propri- eties for a small island state is safeguard- ing the maintenance and modernisation of the country's naval squadron. Every army, big or small, needs a sub- stantial financial outlay to sustain its as- sets and facilities. As much as this admin- istration has boosted our military's wages and working conditions, the Armed Forc- es have peace of mind that funds will con- tinue to be provided for their maintenance programme in equipment, installations, and communications systems. This is an investment which amply dis- plays that government trusts this disci- plined force to protect our country. It is indeed an investment reflecting our citi- zens' trust in our soldiers' credentials to safeguard our borders. LEADERSHIP has always been an essential element of success, re- gardless of the era or industry. In the digital era however, leadership has taken on a new level of impor- tance. With the rise of new tech- nologies, the business landscape is constantly evolving, and today's organizations face unprecedented challenges in their scale and com- plexity. The digital era is moving at such a rapid pace that it fundamentally transforms the way in which or- ganizations operate, whether pri- vate or public, and asks them to develop new ways of thinking in designing operating models. As the world becomes more intercon- nected and technology continues to advance and change the way we do business, strong leadership is critical to thriving in today's digital landscape. The COVID-19 pandemic con- tinued to accelerate the shift to digital transformation, making leadership in the digital era more important than ever before - forc- ing organizations to rapidly adopt new technologies and digital chan- nels to operate remotely, engage with customers, and maintain business continuity. As a result, the role of leadership in the digital era has evolved to meet these new challenges and opportunities and adapt to the new normal. In the banking industry, the im- portance of leadership in the dig- ital era cannot be overstated. The traditional banking model has been upended by the emergence of fintech companies, new payment systems and financial technologies which have disrupted the industry, transforming the way consumers and businesses interact with their financial institutions. With the rise of social media and other dig- ital channels, organizations have more opportunities than ever to connect with customers and build their brand. The increasing use of mobile banking, online bank- ing, and other digital channels has made it essential for banks to build and maintain a strong online pres- ence. Digital leaders must be able to harness these channels effec- tively, using them to engage with customers, provide personalized experiences and build meaningful relationships. They must also be able to leverage data and analytics to gain insights into customer be- haviour and preferences, using this information to improve their prod- ucts and services. Leaders in the digital era must be agile and adaptable; able to pivot quickly in response to changing market conditions, new trends and technologies as they emerge and determine which ones are most rel- evant to their business to lead their organisations into the future. This includes building resilient digital infrastructures to maintain busi- ness continuity, managing remote teams, and ensuring cybersecurity. They set the tone for the organiza- tion's work, ensuring that employ- ees, are moving their efforts in the same direction to achieve the goals within their organisation. Innova- tion is key to success and organiza- tions that foster a culture of change and innovation are more likely to succeed in the long run. Digital leaders inspire and motivate their teams to embrace change, think creatively and take risks by encour- aging a culture of experimentation and innovation while also building strong collaborative relationships both within their organization and with external partners, and lever- aging the collective expertise of their network to drive innovation and growth. Digitalisation is a vital compo- nent of the business landscape and presents a significant opportunity for businesses to drive organisa- tional efficiency. By automating manual tasks, managing data more effectively, improving collabora- tion, and tracking performance, businesses can achieve significant cost savings, achieve greater pro- ductivity, and drive better business outcomes. This makes it essen- tial for organisations to invest in strong digital leaders who can steer them through the rapidly evolv- ing digital landscape with confi- dence and clarity, by implement- ing a comprehensive digitalisation transformation strategy that con- siders the company's goals and ob- jectives and provides the necessary infrastructure and support, for the organisation to position itself bet- ter to stay ahead of the curve in this digital era. 6 maltatoday | SUNDAY • 26 MARCH 2023 OPINION Beyond the bounds of P-71 Leadership in the digital era Byron Camilleri is Home Affairs and National Security Minister Theodoros Papadopoulos is Chief Digital, Strategy and Transformation Officer at Bank of Valletta Byron Camilleri Theodoros Papadopoulos