Business Management Archives

By Goke Ilesanmi

Some days ago, I thought extensively about the current nosedive of our macro-economic fortunes occasioned by the crash in the prices of oil at the international market. When I remembered that our over-reliance on one source of revenue (that is, oil) like a specialist accounts for the current economic turbulence, the thought of whether or not it is better to be a career or business specialist flashed through my mind. Let me ask you this question, is it better to be an exceptional specialist or an effective generalist? Read the rest of this entry

Plying the precise path to the peak

By Goke Ilesanmi

Whatever is worth doing at all is worth doing well. Therefore, it is imperative to aspire to be at the peak of your career or business. That is, the highest level. To achieve this feat, you must have the mentality that the sky is the beginning not the limit of your potential for personal or corporate success because you are capable of reaching farther into the success moon and stars through exceptional commitment, outstanding performance and/or distinction. Your ambition is attainable because whatever good idea you conceive and believe in as an individual or organisation, you definitely can achieve. Read the rest of this entry

By Goke Ilesanmi

Planning is very critical to business success. So also is strategy. In short, these two words are believed to be interchangeable or at least go together like Siamese twins. Little wonder that we have the phrase “strategic planning”. What is a business plan? A business plan is a formal document that articulates the direction of a business in a bid to accomplish its most important goal, that is, profitability. Profit does not come by accident. Read the rest of this entry

Learning fundamentals of effective business writing

 

By Goke Ilesanmi

 

There are four different skills of communication. These are listening, reading, speaking and writing. Listening and reading are technically referred to as Receiving or Receptive Skills because they are about assimilation; while speaking and writing are called Transmitting Skills because they are about articulation or dissemination. And mastery of all these skills is very important. But our main attention here is on writing skills given the thematic focus of this discourse.

 

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Making your team committed through listening

By Goke Ilesanmi

Have you ever taken time to find out the level of commitment of your team as a manager or leader? If you have, what is the result of your findings – low or high? If the result shows their commitment level is low, this may be due to many reasons. One of them may be your failure to listen to your team. Superior leadership involves listening to your subordinates to get their valuable input, and it is rewarded with their trust in you and their commitment to the job. Read the rest of this entry

Addressing workplace group conflict effectively

By Goke Ilesanmi

Only very few workplace situations are as annoying as belonging to a team experiencing conflict. Conflict disrupts productivity and leads to frustration. It is noteworthy that there are no quick fixes for this. There are typically many reasons for team conflict. The desire to make one’s feelings known is the first step towards solutions. Gary Harper, author of “The Joy of Conflict Resolution: Transforming Victims, Villains, and Heroes in the Workplace and at Home”, says in conflict, each person has his or her story and people tend to see themselves as either the innocent victim or perhaps the righteous hero. Read the rest of this entry

Enhancing performance with high expectations

By Goke Ilesanmi

performanceEconomic performance is the basic function and contribution of any business enterprise, and the major purpose of its establishment. To achieve economic performance and results, a lot of (hard) work is required, and the work has to be thought through and done with direction, method and purpose. Peter Drucker, a renowned business management consultant says to make any business effective, the executive can start with a model of the “ideal business” Read the rest of this entry

Employing more staff for your business

By Goke Ilesanmi

If you have reached a point where you need to employ more people for your business in order to remain competitive and become more empowered, you need to understand that extra manpower entails a whole new string liabilities, expenses, paperwork and even of legal obligations before bringing just anyone on board. Research shows that hiring mismatches can result in high turnover, absenteeism, higher healthcare costs, workplace violence and theft, which mean huge costs to an organisation’s bottom line as well as corporate reputation. Read the rest of this entry

 

By Goke Ilesanmi

 

Every day, managers and employees need to make decisions that have moral implications. And those decisions affect their company and shareholders. Conducting business in an ethical manner is the responsibility of everyone in an organisation for legal and business reasons. And as a manager, it is important to understand your ethical obligations so that you can meet your company’s expectations as well as model appropriate behaviour for others to emulate. Read the rest of this entry

By Goke Ilesanmi

Last week, we discussed the concept of creative approach to entrepreneurial empowerment. We stressed that contrary to the academic notion that successful entrepreneurship begins with possession of viable and innovative ideas, it logically starts with having entrepreneurial or millionaire mentality, followed by having a core desire and identifying one’s specific entrepreneurial personality before considering possession of viable ideas. Read the rest of this entry

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