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In today's rapidly evolving economy, businesses worldwide are recalibrating their strategies and decision-making processes. There's a heightened awareness of the need for agility and prudence.

Cyprus national and ARETI Founder Igor Makarov believes that it is important to adopt new mindsets for success. As a seasoned global business leader, he notes that the traditional playbook for business success, which relied on static strategies and a one-size-fits-all mindset, is no longer sufficient. For businesses aiming to thrive today, embracing new perspectives is beneficial and necessary to forge a successful path.

The business leader shares strategies that can empower businesses to survive and flourish amidst the challenges and opportunities presented by the current economic climate.

The Push for Globalisation

For Makarov, globalisation means much more than simply exchanging goods, services, capital, people, and ideas across borders. It encapsulates a broader, more strategic engagement with the world. From capitalising on diverse global talent to nurturing international partnerships and collaborations and even employing global structures to tap global audiences, such strategies infuse organisations with various perspectives, skills, and problem-solving techniques essential for sparking creativity and propelling innovation.

With ARETI, his completely new Cyprus-based venture focusing on diverse investments across Europe, North America, Central Asia, and the Middle East, Makarov understands the value of forging business processes and even team members across geographical and cultural divides. He underscores the necessity of manoeuvring through complex international regulations to bring advantageous market positions, penetrate new markets, and cultivate sustainable business models.

He mentions, "Adopting a globalisation mindset propels businesses to transcend conventional operational confines and fosters a culture of openness and cooperation. This approach enhances their operational capabilities and propels them with the foresight and agility needed to navigate and thrive amidst the future's global challenges and opportunities."

Adding 'Human' Aspect in Business

Makarov's approach to business extends beyond conventional success metrics, integrating the 'human' aspect into organisational operations. This mindset prioritises not just profit-building but also community impact and improvement.

He remarks, "In the rapidly evolving business landscape, where consumers and stakeholders increasingly value corporate responsibility and ethical practices, integrating a human-centric approach into business strategies is commendable and essential."

Many companies have embraced this ethos, recognising that true success involves contributing positively to society and the environment, fostering a sustainable and inclusive future.

In his extensive career, Makarov has been actively involved in international charities, foundations, and social and environmental projects that received UNESCO recognitions. These initiatives have reinforced his belief in the foundational business principle of improving lives by addressing global challenges through resources, networks, and platforms. This aligns with a broader trend among businesses to expand operations, focusing on enhancing societal well-being and environmental sustainability.

Makarov's passion for cycling and belief in the sport's positive values led him to integrate his love for the sport into his philanthropic initiatives. In 2008, Makarov founded and became the sponsor of the Swiss-registered professional cycling team, Katusha Team. For Makarov, it was more than a sponsorship but a reflection of his commitment to promoting not only professional cycling but the sport in general for broader people.

It is with the cycling-for-all idea that Makarov went further and stepped up his game on supporting cycling-related federations. He joined the Union Cycliste Internationale (UCI), the world governing body of cycling. Through UCI, Makarov brought his cycling-for-all initiatives worldwide and encouraged other aspiring cyclists to pursue their dream of the sport.

Aside from this, his businesses also sponsored the Union Européenne de Cyclisme (UEC) for many years, providing funds and necessary support for all the European Federation's cycling projects.

After selling the Katusha Team in 2019, Makarov expanded his charitable endeavours, engaging in large-scale charity projects that span various causes and countries. His efforts include the establishment of a clinic for adults with autism at Mount Sinai in Miami, which empowers adults on the autism spectrum. Additionally, he supported the publication of books with convex illustrations and audio support for visually impaired children through the Project of the Books for Cecutient Children Fund. Meanwhile, in Limassol, Cyprus, Makarov, and other local investors funded the construction and maintenance of a public park, contributing to the community's well-being.

Adapting Smart Resilience

The post-pandemic period has highlighted the importance of resilience, showing that agility, foresight, and adaptability are crucial in navigating uncertainty. Makarov, however, takes a nuanced view of resilience.

For him, it's about preemptively recognising potential challenges and proactively developing mitigation strategies. This anticipatory approach to problem-solving prepares businesses to withstand adversities and emerge more robust and strategic.

He adds, "Resilience, a lesson learned post-pandemic, remains a critical asset in 2024 and beyond."

Facing his fair share of inherent challenges and uncertainties of business, Makarov learned that resilience is multifaceted. It's not solely about enduring hardship but also the strategic foresight to anticipate obstacles and the wisdom to devise effective solutions.

Such setbacks have taught him that being smart about resilience means constantly evolving, learning from past setbacks, and always having a contingency plan. This mindset has enabled him to navigate the negatives, emerging more robust and astute, equipped with innovative strategies to overcome future challenges.

The True Face of Business

One cannot truly predict and prepare for what comes ahead. However, gleaning insights from experienced leaders like Makarov offers invaluable lessons, expanding knowledge and enhancing the ability to foresee and navigate future challenges.

In a business landscape prone to sudden shifts, having a comprehensive array of resources at one's disposal and the agility to tailor these resources to one's unique business context is crucial. This strategic adaptability minimises the potential for failure and ensures a reflective and successful outlook on the year's outcomes in 2024.