News
‘Projectizing’ Business Operations Helpful to Entrepreneurs – Odunfa
Starting a business is similar to executing a project. And in Nigeria’s vibrant entrepreneurial space acquiring effective business skills, like project management, in addition to applying technology to business operations might perhaps give businesses competitive advantage.
Although project manager roles have continued to expand into such areas as the business development arena where new projects are initiated through processes designed to obtain additional business for the organization, according to the Project Management Institute’s 2014 Pulse of the Profession report, organizations face a chasm between what they should be doing — aligning projects to their strategy — and what they are able to accomplish.
As a result, 44% of strategic initiatives are unsuccessful; although the report also indicates that projects aligned to an organisation’s strategy are completed successfully more often than projects that are misaligned (48% versus 71%).
Affirming this global business trend, Adedoyin Odunfa said that, information management expert and MD/CEO Digital Jewels, identified that projectizing the business activities, especially at startup stage, helps business owners manage operations better.
“A project management approach helps to manage business processes,” Odunfa said, “by breaking down business operations into smaller projects assigning tasks to competent people, and measuring results, entrepreneurs can run businesses more efficiently.”
Speaking recently on the Mara Mentor Talk Show, the Digital Jewels CEO added that information as corporate asset in today’s world requires entrepreneurs to understand how the information value chain works to succeed in business.
Thus, with the impact of technology on generating and applying tailored information to improve business and develop human capacities, perhaps entrepreneurs could have it easier by projectizing operations and utilizing technology in business.
The “winners [in business] will be those who use technology effectively,” she said, commenting on the impact of technology in business.
“The efficient use of technology helps build requisite database and corresponding automated functions, which assist modern day entrepreneurs to projectized business operations and manage risks,” Odunfa added.
Besides project management and technology, Mrs Odunfa, who is also a mentor on Africa’s largest entrepreneurship network, Mara Mentor, urged young Nigerians to build capacity and acquire knowledge about industries before venturing into them. She also implored young entrepreneurs to seek guidance from mentors.
“Nobody is going to tell you what to do,” she said, adding that young people must learn from the mistakes and successes of mentors.
News
Legit.ng, Shade of Life Foundation Partner to Advance Autism Awareness in Nigeria
Legit.ng recently joined forces with the Shade of Life Foundation to become a voice of autism, and drive advocacy for improved media support during Autism Awareness Month.
Conversations around media support exploration was led by Joseph Omotayo, head of Department for Human Interest Stories at Legit.ng, and Dr. Eziafakaku Nwokolo, founder and CEO of the Shade of Life Foundation,
This partnership is a response to the concerns raised by organizations like the Shade of Life Foundation about the level of support received from the media in discussing autism as a disability.
While other disabilities may receive attention, autism, with its critical developmental implications often lacks adequate representation in mainstream media.
Recognizing the importance of addressing these concerns, Legit.ng took proactive steps by integrating itself into the essence of autism awareness.
It facilitated a one-hour workshop with Dr. Nwokolo, the founder of the foundation, to deepen our understanding of autism, its various spectrums, and the language boundaries associated with it.
Other steps we took in advocating autism awareness in the media, can be seen in our attached press release.
Legit.ng believes that by amplifying the voices of autism and advocating for better media representation, we can contribute to creating a more inclusive and accepting society for all.
News
As Nigeria Struggle, Tanzania Turns off Power Plants Due to Excess Supply
While 85 per cent of Nigeria is in darkness, Tanzania, an African country has shut down five hydroelectric stations in a bid to reduce excess electricity in the national grid.
Kassim Majaliwa, prime minister, Tanzania, has said the main plant, Mwalimu Nyerere Hydroelectric Station, alone generated enough electricity to power major cities, including Dar es Salaam, the country’s commercial hub.
It is the first time Tanzania, which suffers chronic power shortages, has closed hydroelectric stations due to excess production.
“We have turned off all these stations because the demand is low and the electricity production is too much, we have no allocation now,” an official from state-run power company, Tanesco, said.
The 2,115MW Julius Nyerere Hydropower Dam is said to be almost filled with water following heavy rains that started early this year.
Meanwhile, while the country has an installed capacity of 1,938MW and the grid installed capacity of 1,899MW, Nigeria which has an installed capacity of 13,000MW is struggling to electrify 85 per cent of its electricity consumers.
News
President Tinubu Appoints Jim Ovia as Student Loan Fund Chairman
President Bola Tinubu has approved the appointment of Jim Ovia, renowned banker and businessman, as the Chairman, Board of the Nigerian Education Loan Fund.
Ovia’s appointment is contained in a State House statement titled, ‘President Tinubu appoints Jim Ovia as Chairman of the Nigerian Education Loan Fund,’ and issued on Friday by Ajuri Ngelale, special adviser to the President, Media & Publicity.
The statement noted that “Ovia is the founder of one of Nigeria’s leading banks and a respected business leader, with a surfeit of efforts and benefaction towards nurturing and empowering young Nigerians.
“He is an alumnus of Harvard Business School and holds a Master’s in Business Administration from the University of Louisiana.”
The National Student Loan Programme is a pivotal intervention that seeks to guarantee sustainable higher education and functional skill development for all Nigerian students and youths.
The Nigerian Education Loan Fund, the implementing institution of this innovation, demands excellence and Nigerians of the finest professional ilk to guide and manage.
“The President believes Mr. Ovia will bring his immense wealth of experience and professional stature to this role to advance the all-important vision of ensuring that no Nigerian student suffers a capricious end to their pursuit of higher education over a lack of funds,” the statement partly read.
Ovia’s appointment will also ensure “that Nigerian youths, irrespective of who they are, have access to higher education and skills that will make them productive members of society and core contributors to the knowledge-based global economy of this century.”
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