Unforgettable moments 2

1.      Yemi

“Ehhhh”. Do I need to say further?

2.      Tunde

I’ll always remember Tunde as being very hands-on person. He worked with me on my ST Colours project, and it was a great pleasure working with him. He took on responsibility without being coerced.

3.      Samuel

The doctor who is trying to change his identity. He always said, “Don’t call me doctor, call me Samuel”. Don't think it worked. I always called him the visiting student.

4.      Tito

I'll remember the way Tito’s laughs and how flexible he is. I fear for his bones when he dances.

5.      Tosin

The Senator! God made famous! Mr MBA! I can’t forget his hausa funee that he only uses when he wants to give a presentation, and the way he bounces when he is trying to impress a girl.

6.      Funto

Orobo toh badt. Come 2021, Funto will still be fatter than me. UK Man! I can’t forget the first presentation Funto made to the class, where he removed his jacket to explain a very simple concept.

7.      Toun

Sweet girl! Everything is just sweet.

8.      Seun

When Seun introduced himself on the first day of school, he said, “I’m single and searching”. So “Ideally” I thought that this status would change significantly by the time we were done with the program. My President! Do the needful

9.      Funke

Anytime I see Funke, I just remember that life is not fair. How can she be looking this hot after 2??? I got to know Funke a whole lot better when we went for Hult together, and I don’t think I’ve ever met anybody who can plan logistics the way she does. She has an amazing drive to get what she wants, and is a competent number cruncher

10.  Nelson

Mr Sustainable. Ever since Nelson learnt that word in first semester, his brand changed forever. He decided to speak sustainably so that he could be remembered in a sustainable way. Nelson is always found to be arguing about one of the following things, Goodluck Jonathan, power sector and agriculture. He has a booming fish business. I ate the fish. It tasted good.

11.  Gbemi

Another Jacker extraordinaire. Everything in black and white was read, and every course offered in the program was taken. I would never forget the way Gbemi rolls her eyes and hands in class while she’s speaking, and of course these words, “the brethren”, “fellowship”, and “waow”.

12.  Busola

S   Sunflower. I can't forget her facial expressions and how she calls my name. 

13.  Segun

PHD! Baffer lomo! I know she’s not technically in MBA 9, but she’s a part of us. She has shown shown me that Phds can also wear high heels and sexy outfits

14.  Okey

MBA rapper number one o. Rhymer toh badt. I won’t forget his dance moves too.

15.  Chiamaka

Chimama, her mother in law, Danny boy and Aisha made me laugh so many times.

16.  Kanayo

K.P Madu, the man who seats like he is at least a senator. “I’ve lost the ability to think small”, he says. MBA rapper number 2. He could speak for hours about Jay-Zee, and I always used to beg him to continue his discussions on rap with David outside the syndicate room. I can never forget his work space when he was trying to meet up with a deadline. It was always characterised with a lot of papers littered around and a can drink.

17.  Feyi

CEO SheaGlo, Fantastic class secretary. Just leave any mail to Feyi, he’ll write it in a very politically correct manner. He's a good boy, very rare to find these days. If only his name was Feyichukwu 

18.  Obuns

Obunsman! My fellow igbo brother. Obi na tum o...

19.  Tejumade

Tejumade and her shoes...Killing us softly

20.  Bimbo

Peaceful Bimbo. Always smiling and baffing up.

21.  Hafsat

Omo Omo Omotoke. Hafsie contributed to the growth of by business by always giving me scrap fabric. She has a reputable for making very pretty dresses too.

22.  Otisi

I can’t imagine how the class would have been without Otisi, because he always added spice to the class. He was always full of mischief and was either making us laugh or yabbing us. Beneath all that façade is a very nice guy. He always came for any exhibition I invited him to and I remember he once bought me Strepcils when I just casually told him that I had a sore throat.

23.  Gbenro

Tall black boy. The man who took bobo to a whole new level. He was always well put together, and led the class throughout the course of the program. 

Unforgettable moments

The end...

The end makes me sad, and I get emotional each time I attend a graduation ceremony, because as soon as the students are pronounced graduates, their lives change forever. Change is good, and in fact it’s great, but it’s painful. There are some people you will never see again, and they are some people you won’t even hear about after a while. Whatever the case may be, I decided to write about the great people I met in the course of my MBA program, and the things I’ll never forget about them. Enjoy!

1.      Ifunanya

Our one and only original yellow legs.I will never forget Ifunaya in the sense that she always says “in the sense that” when she makes a contribution in class. Our one and only original yellow legs.

2.      Obinna

I remember his first presentation where he earned the name Papa Bull (or something like that) and I can never forget his IFC swagger.

3.      Ayoyemi

I don’t think I’ve ever met someone as carefree as Ayoyemi. She makes the most amazing chocolate cakes .Another interesting fact is that we had the same clothes, we just never mistakenly did “anko”.

4.      Raji

Top consultant, Partner, Consulting Club, My group head, Rukayat’s secret admirer. Raji the demystifier, Certified anything certifiable. I know you will still do Phd. Raji knew how to bring people together to get things done. He always organized tutorials with his boys and may other consulting club projects. I will also not forget that Raji took only one course in 2^nd year, 3^rd Semester…for obvious reasons

5.      Yinka

On the 1st day in LBS, Yinka introduced herself and said she was social, I did not understand until we had the first party as a class. Indeed I understood EXACTLY what she meant. Fantastic dancer, she never gets tired. She taught me how to dance Azonto(…well, I’m still learning)

6.      Tinu

And so, I will never forget the way Tinu always says “and so”.  She always finished her assignments way before the deadline, and I liked to watch her face when she was raising her hands to make a contribution. 

1.      Chibuzor

CEO Onaffel. Special competence in analysing exhibits.  Organisation and attention to detail are Chibuzor’s middle names.

2.      Ada

Ada must bubble, no dulling. She always made me laugh.

3.      Emmanuel

Emmorta. I almost forgot his real name is Emmanuel. I can’t forget how he used to always sleep in class. I hear all the people that sit on that seat always sleep in class. When he changed his seat, he stopped sleeping in class. It must be the seat that has been bit by tsetse fly.

4.      Amaka

Amaka the communicator. Amaka was always communicating something and always had an interesting hair colour. Red today, gold tomorrow, bronze next week, etc

5.      Zino

Zino and her outfits…unforgettable.

6.      Irene

Best married woman dancer, even as she's pregnant, she's still dancing seriously. She is committed to making an impact in the health sector, and channels all her energies there.  

7.      Funmi

Tamilore’s mummy. Between Irene, Anthonia and Funmi, we had the triangle of class participation.

8.      Anthonia

Two things I can never forget are how fast Anthonia’s hand always went up to respond to a question, and how neat her hair always was. Jacker extraordinaire.

9.      Mojeed

Executive Director, “Muller Wears”. The first thing that always comes out of his mouth is “Yeah”, and I can never forget Mojeed’s dance steps. I just loved to watch him dance.

1.      Motunrayo

COO SheaGlo. For over a year, I was deceived by her quiet mien, until I got closer to her. She's anything but quiet. 

2.      Foluke

My fellow AMIP. I can’t forget how Foluke takes her time to speak, and her perspectives to life.

3.      Jide

My first mba boyfriend. Unfortunately our love did not last, as Jide has a thing for variety. However short our love was, I like to think I made a friend for life.

4.      Tolu

Emeritus and her crazy high heels

5.      Fisayo

Dokito Aja. The only married man who has been to the other side…I mean marriage.

6.      Boray

Oliver twist dance, life of a party. He has a confession, don't take it personal.

7.      Jonathan

ToastmasterJojo, passionate about the financial markets.

8.      Motolani

My one and only seat mate. Jacker extraordinaire. She read everything in those binders. I will never forget the way she says, “the case states that….” Nor can I forget Motolani and “my love”.  My Presido! Women Leading Change

9.      Madonna

CEO Bellfast, CEO Rindu. I can’t forget Madonna’s hospitality and how she was always having surprise gifts for us. 

10.  Aghogho

AG 4 Short. Niger Delta represented. He has all the e-books you can ever think of, but he has not read them. The way he laughs makes me laugh too

11.  Akinwunmi

I can’t forget Akinwunmi and his good boy swag. Since year one, he has been practicing forex, till the end of 2^nd year, he’s still practicing this forex. I just hope he remembers me in his paradise when he becomes a “maga” from the forex he has been practicing since forever. 

1.      Akin

Owolabi’s first son. I can’t forget the “loving it” saga.

2.      Ezechi

The best DJ I know, and I can repeat that anywhere. Mr nice guy, always happy to help. He  never liked to get into an argument with anyone, and was always punctual to group meetings.  If I watched any movie during the course of the program, it was thanks to Zezu.

     To be continued...

A case for the latest "P" of Marketing..

Whether it be the 4 P's or 8 or 21 like my Marketing Professor, Dr. Tayo taught me. As for me, what I think is that the P's are as important as the essence of the Marketing Course itself but Please, "don't quote me!"

Surely you must have heard of Product, Price, Place, Promotion to mention a few, today, I introduce the 22^nd P *rolling drums...*

PLEASE!

I will be doing the introduction and explanation with definitive help from the ever useful Microsoft Encarta Dictionary.

Please: to give pleasure or satisfaction

A best selling product or service is one that seeks to satisfy the needs and aspirations of the buyer. The need especially for pleasure as the buyer more often than not, seeks a product or service that will bring happiness and relief, create a satisfactory feeling and very importantly, make seemingly difficult tasks done easily and in less time.

Please: to like or wish to do something

A best selling product or service is one that seeks to fulfil the plans and desires of the buyer either by quality or by quantity. The average buyer at every point in time has goals and objectives he or she will like to or wish to meet, it is the duty of your product to be of help.

Please: to be the wish or will of somebody

A best selling product or service must of necessity meet the psychological and mental need of the buyer for value. It is the buyers will that the stated price of a good or service is commensurate to the offered good or service and it is your responsibility as a marketer or sales person to prove it.

Please: used to make a polite request or command

Here, we get to acknowledge that the buyer is King or Queen if you like, you should never ram a product or service down a buyers throat. IT IS NOT BY FORCE! You should be able to persuade your buyer first with sound logic then appeal to his or her emotions and hopefully, your credibility will seal the deal.

Please understand that Great Marketing can only be achieved with tact and finesse, the buyer comes first and remains first and that is the only way your product or service can become first in an ever increasingly competitive market place.

Segun Dada is a first year MBA student of Lagos Business School and can be reached at olusegun.dada@lbs.net.ng

A Strange Work of Art

I have passed by this piece of art every day for close to one year and for the first time today, it struck how powerful a meaning it holds.

Many people have walked by this piece for years and never got its meaning and many others will pass through and not have a clue. Fortunately for me, today the 9th of June 2012 at exactly 11:45am...the meaning struck me.

Your head and the potential it holds to imagine the unimaginable, the capacity it has to solve that which has been termed unsolvable, the tenacity it has to do the impossible and its unique ability to connect with inspiration from a higher realm.

The head is in a box (Tradition, Disability, Exposure, Network, Education...) and you have the keys to unlock the power that lies in that box and the interesting thing is that you have the keys.

It takes you to unlock such massive potentials and it takes you to keep it locked. 

Segun Dada is a first year MBA student of Lagos Business School and can be reached at olusegun.dada@lbs.net.ng

ACADEMIC SUCCESS FORMULAR: For MBA's

Just like there is no void in life, there is none at business school. You have to fill up your time with something.

As an MBA, you get to have great powers. But like the Spiderman Principle states, "with great power comes great responsibilities". The power to sleep is interestingly one of them.

Most MBA's will prefer option 3.

My suggestion is that MBA's should try to include their facilitators in their socializing, not just with their colleagues, HR Managers or CEOs. At least you get to know how though the examinations or test will be and possible areas of concentration. This defines as a great social life.

The problem with 'good grades' is that you get them on your own. But 'great grades' are gotten when you work in groups with like and unlike minds especially those that have something to offer academically.

Sleep is sacred but too much of it is equivalent to practicing death. Why sleep for so long when you will have enough in the grave. So, 4 hours should be enough for one day. This defines great sleep.

Great social life + Great grades + Great sleep = Great MBA


Segun Dada is a first year MBA student of Lagos Business School and can be reached at olusegun.dada@lbs.net.ng

Faith

Eternally a subject of thought,

How the heavens and earth came forth

The Sun and Moon that light up the skies

The lush and grandiose landscapes that pleases the eyes

Lost in reverie, enthralled by humanity’s exquisite medley of magnificence and frailty,

The unseen hand of the wind, gently wading through leafy trees

The hush of the mountains, the braggart of the rushing ocean currents,

The preposterousness of The Big Bang Theory, never more apparent

Nature lay replete with evidence

Of a master designer’s bravura, insignia of His essence!

He made the tiny Shrew, the Giraffe that stands tall

I believe in a Creator, author of all.


David is a second year MBA student and can be reached at david.rufai@alumni.lbs.edu.ng

THE EFFECTS OF NANO-ECONOMICS: A case study on fuel subsidy removal in Nigeria and other tiny economics Macro-Economics won’t teach us about.

During a class in strategy, when we started talking about the brewing industry and the profitability of the industry, I remember this funny article that I wrote and I hope you enjoy it. The Macro economics issues are written in black while the "interesting" nano economic issues are written in red.

Aggregate demand Vs. Aggregate supply: Aggregate demand relates to the total demand for all goods and services to the general price level in an economy and the same goes for aggregate supply. With an increase in fuel price, the multiplier effect would be that aggregate demand would drop and aggregate supply would follow suit. Owing to epileptic power supply and not too efficient transportation systems, the Nigerian populace either as individuals or enterprises are heavily and directly dependent on petrol to power their generators and their vehicles. Invariable, the increased cost would be transferred to the consumers.

Aggregate demand Vs. Aggregate supply: As far as some other Nano-Economic effects much of which Macro-Economics might not capture is that Wife’s will tend to demand more from Husbands that have a reducing supply. This is different because while the supply of Husbands will reduce will increased fuel prices, the demand by wife’s will increase because of price increase in everything from shoes to vegetables.

Disposable Income, Consumption and Employment: In such a situation of increased fuel prices, Income should increase but since no one from government down to our “wonderful” bosses is willing to accept responsibility, income remains statics as organisations face rising cost of operating. Consumption reduces and people have to hold on to their employment with both arms and legs as employers will resort to laying off staff as their operating expenses increase. Therefore people would remain in their jobs without an increased pay and might not even complain about a pay cut.

Disposable Income, Consumption and Employment: The disposable incomes of those running pubs or “beer parlours” if you like have increased, as the consumption of alcohol and its derivatives have significantly increased. Employment rate will reduce and people would hate their jobs and compensation even more. Well, history hardly records of any brewery that didn’t survive a depression (just wondering).

Government spending: According to the CBN, the government would save about $3.94 billion on the reduction in fuel subsidy by increasing the price from 65 Naira to 97 Naira. The funds would be transferred to consumption through investments in capital projects and other “palliative” measures, government would also reduce its internal borrowings and make more money available to the private sector.

Government spending: Well, government spending rarely goes down and even when they decide to reduce basic salaries of the executives by 25% there is a tendency that they could replace that with a “subsidy allowance” that should be equivalent to the deducted 25%. There is no better time to be in government than now. The employment benefits are great.

Inflation, Interest Rates and Investments: Inflation refers to the increase of money in circulation. This is driven by the rise in general prices of goods and services as a result of the increase in the pump price of petrol. Owing to the rise in prices, saving money in the bank will become unattractive and banks will have to increase interest rates to attract deposits and in turn, the cost of borrowing will increase which will adversely affects Investment by firms.

Inflation, Interest Rates and Investments: In times of economic hardship, many more people remember their creator. This implies that the occupancy rate at religious centres will significantly increase and as such, there is a lot of value inflow into religious centres. As such, there is an increased circulation of money in religious centres. Religious centres rarely borrow from banks (instruction from above) so their relationship with banks is usually that of making deposits. As far as investments are concerned, the emergence of religious centres owned high schools, universities, estates, hospitals, hotels, road transport companies and airlines are proof that significant forms of investment are being made religious centre thereby transferring value into the society, providing employment and adding value.

Net-exports and Exchange rates: Net-exports refer to the difference between the imports and exports as a result of the change in fuel prices. Owing to the increase in fuel prices and a resultant decrease in consumption of fuel, importation of fuel would reduce. Importation had increased over the years because of dysfunctional refineries and the excessive subsidies gave rise to increased consumption. With reduced internal consumption, government will likely import less and export more. Exchange rate for the naira against the Dollar will increase as the CBN will demand less dollars which will lead to the appreciation in the value of the Naira.

Net-exports and Exchange rates: Popular statistics has it that of every 5 Africans on any part of planet earth, 1 is a Nigerian. This will probably be revised to 2 because even as Nigeria declined in its exports of agricultural and industrial produce, she increased in export of her oil and particularly her citizens to every part of the world. Harsh economic times mean that Nigerians will flee to Europe, America, Asia and even Antarctica. For exchange rates, let’s look at the increased cost of marriage and parents would now include gallons of fuel in the bride price list and the rate for exchanging (cost) their daughters will increase while the rate of exchanging (frequency) their daughters reduce. Is it not evident?? How many weddings have you attended this year?

By: Dada Olusegun, MBA 10, olusegun.dada@lbs.net.ng

NETWORKING IN 7 SIMPLE STEPS

The ability to properly position one’s self is vital to the attainment of our career goals and objective. The height a person can attain in life does not only involve what you know but more importantly who you know. Your ability to network and stay connected to your network has been proven to be a vital tool to the fulfilment of a persons career objective alongside the numerous benefit that come alongside networking.

In this article, I shall be discussing the seven steps to successful networking.

1. INTERDEPENDENCE. You need to realise that there is need to be connected to one another. Man is a dependent being the earlier you realise this the more important the networking process will be to you.

2. PERSEVERANCE. Good things take time to come to fruition. Therefore, it is important to start building the network before you need them.

3. RECIPROCITY. Networking is not a one-sided affair. You should always think about what you can bring the table that the other party needs. No matter how small just make sure you are not the only person benefitting from the relationship, but the other party has the opportunity to do the same.

4. SIMILARITY. It is important to befriend not only those with which you have the same similarities but also those with which on the surface you seem not to share anything in common. Taking the time to step out of your comfort zone may greatly help your networking.

5. PROXIMITY. It is important to stay in proximity to your contacts either via any of the communication channels available to us in the modern era. Getting actively involved with you network is a good way to maintain nearness.

6. CROSS-FERTILIZATION. Successful leaders are able to influence contacts from one network to another. Think about the people in your contact list. Who needs attention? Who is owed favours or needs your help? Always think of your network as a lifetime journey, rather than a onetime effort.

7. SOCIABILITY. In order to network successfully it is important to find venues and situations in which you actually enjoy networking. Meeting new people can be fun, as long as you find out what works best for you and don’t approach it as a chore.

Take the time to lead a well rounded life, start making the most of your contacts because these relationships are a valuable source of energy and self-confidence.

By: Gozie O. Obinwa, MBA 10

PREPARING TO DO BUSINESS IN AFRICA? CAREFUL NOW!!

Africa’s impressive growth over the past decade is bringing new wealth and investment opportunities to the continent as global firms scramble for a share of the market by entering or expanding their local operations. But despite the opportunities, investment and business risks in the continent are becoming more diverse and complex, making it necessary for businesses to carefully plan and implement their activities in order to overcome the challenges of the continent’s tough business terrain. 

As global companies seek to take the opportunities in Africa’s growing markets, a detailed study of the social and political environment of target countries is required to measure and anticipate political risks ahead of time. Often times, businesses need to build continuous relationships with leaders in order to safeguard their investment and such relationships are easily broken when there is an unplanned power transfer between successive governments with different economic agenda. As with FirstRand’s acquisition of the Finance Bank of Zambia which was overturned by President Michael Sata after he took over government in 2011, anticipating political risks help organizations decide whether to enter markets via an acquisition, partnership, joint venture or as a stand-alone. Appropriate timing is also very critical to carrying out business activities in such markets and therefore companies should enter markets with high prospect of political stability before those with volatile political climate.

Corruption is a major concern for African countries, with 9 of the top 20 corrupt countries in the world from Africa. Therefore when entering into transactions, particularly with government institutions, contract terms and agreements should be clear and precise, protecting the interest of the company, and working to avoid compromising organizational brand and core values. In 2004, Vodacom chose to protect their brand and values rather than complete their takeover of Econet Wireless in Nigeria as a result of allegations of corruption arising from shareholders dispute and allegations of illegal brokerage payments to certain state governments.  

A peculiar problem facing African companies includes challenges with procurement and logistics due to infrastructure deficiencies. Inefficiencies at ports, poor roads and complex regulations exist in most countries and leaves companies with spiraling costs, therefore, organizations should seek partnerships with local firms with expertise in handling logistics and procurement needs to develop a cost-effective supply chain that will add value to the organization and its customers.

Also, products and services in Africa should take into account the culture and special nature of the market. With low income levels being common, product prices are an important consideration for most African consumers. Therefore products and services should be affordable to the desired target market. Furthermore, in embracing African cultures, marketing efforts ought to reflect strong elements of Africa’s culture and value, while corporate social responsibility programs can be used to engage local communities and create brand awareness to ensure a win-win situation for new entrants into the African market.

Babatunde Jemi-Alade is a second year student at the Lagos Business School, and can be reached at babatunde.jemi-alade@alumni.lbs.edu.ng

LBS Tweetmeet

We would be having a strategy discussion with our world renowned strategy facilitator, Dr Tunji Adegbesan. The discussion is titled "Will you thrive or lose your way in Africa 3.0? Five Key Strategies to Ride the Coming Boom"

The discussion will centre around opportunities in Nigeria that we can position ourselves to take advantage of as the world's focus shifts to Nigeria.

This sounds like fun, and you are all invited to take part in the discussion.
Invite your friends, and please spread the word.

Venue: Twitter
            Follow the school on twitter @LBSNigeria
            The hashtag for the tweetmeet is #LBSBusinessInsights.
Time: 6pm
Date: Thursday, 3rd of May 2012


See you there
Steph