At first glance, the final episode from TradeMalta’s series, ‘International Insights – Stories from the Real Economy’, may look like it has steered away from international trade to take a totally different direction: that of sport.
However, the worlds of business and sport have a lot in common, especially when comparing the role of a business leader to that of a coach: both leadership roles dedicate time to identifying talent, reflecting on strategy, communicating, preparing a team and monitoring execution. Resources, competition, persuasion, and performance are common to a board room and a club house.
To discuss this further, in the final episode from the series ‘International Insights – Stories from the Real Economy’, Dr Joe Schembri meets two sport leaders who have valuable experience preparing teams for international competitions: Pippo Psaila coached the national football team in the 1990s and served as the director of sport for the Malta Olympic Committee; while George Micallef is the lead sport commentator on the island and served as the first head of the national sports school.
Both business and sport rely on talent and potential.
“When it comes to these qualities, it’s a little bit dangerous to just look at current performance,” says Micallef. “You need to see other things that will develop later on. In the world of sport, we look at whether an athlete is an early or late developer. Talent is something that you need to nurture.”
Micallef adds that he believes there are two important things when it comes to talent and growth.
“First of all, you have to challenge the individual to move outside their comfort zone – but you cannot do that without support. Secondly, you have to look at each individual as a project. We need to be more person-centric.”
Psaila adds that talent is not the most important element for success.
“It is a paradox – or rather, a misnomer. It’s not all about talent. First of all, you need to be coachable. Attitude, commitment and hard work also play a critical role. If I have talent but cannot receive coaching, someone with less talent, but with more and higher work ethics, is going to surpass me.”
What can organisations learn from sport?
“The importance of communication is extremely important – coaching is communication. If you don’t communicate your message correctly, there cannot be growth,” says Micallef.
“Sport and business have a lot in common,” Psaila says. “One fundamental lesson that sport can impart to other fields is that before one wins, one needs to learn how to lose. Winning starts with the last defeat.”
International Insights is organised with the support of strategic partners HSBC Bank Malta p.l.c. and powered by Studio Seven. Times of Malta is media partner. The series will be available on popular podcast platforms, TradeMalta’s YouTube channel and timesofmalta.com.