key stategies for driving enconomic

7/31/2019 Key Stategies for Driving Enconomic.....

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Copyright: Sam Ohuabunwa Foundation for Economic Empowerment (SOFEE) (2012)

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KEY STRATEGIESFOR DRIVING

ECONOMIC/BUSINESS SUCCESS IN 2012

Promoting Creativity, Knowledge, Ethics, Entrepreneurship and Management Excellence


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PRESENTED

AT

THE 2012 INTERNATIONAL CHRISTIANBUSINESS EXHIBITION/CONFERENCE

BY

SIR (MAZI) SAM I. OHUABUNWA, OFR

FOUNDER/CHAIRMAN

SAM OHUABUNWA FOUNDATION FORECONOMIC EMPOWERMENT (SOFEE)

PORT HARCOURT, AUGUST 11, 2012

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CURRENT OPERATING ENVIRONMENT/

BUSINESS CHALLENGES

1. Impact of the Deregulation of the Downstream

Petroleum Sectors: Partial Removal of Subsidy

~ Jump in Cost of Transportation

~ Consequential Increase in Cost of Living~ General Rise in Inflation

SOFEE..Promoting Creativity, Knowledge, Ethics, Entrepreneurship and Management Excellence


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2. Decrease in Consumer Disposable Income

~ Overall Drop in Consumer Demand

~ Shrinking of Business Volumes and Turnover~ Pressure on Compensating Wage Increases



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3. Some Trimming of Cost of Governance Especially at

the Federal Level

~ Merger of Departments and Agencies

~ Cut in Salary of the Executive

~ Some Reduction in Travel and Administrative

Expenses

~ Some Containment of Legislative Expenditure

~ Reduction in Budget Deficit



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~ Public Works

~ Vocational Training

~ Material and Child Welfare Schemes

~ Enhanced Focus on Education and Agriculture

~ Unprecedented Investment in Security (1 Trillion

Naira).



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5. Overall Increase of National Income

~ Sustained above Target Oil Prices

~ Sustained targeted Oil Volumes

~ Sustained Growth in Non-Oil Revenues~ Additional Income from Deregulation and Privatization

6. Improved Level of Governance

~ Greater Demand for Accountability~ Higher Political Opposition

~ More Intense Civil Society Pressures



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7. Anticipated Improvement in the Level of Power

Supply/Stability

~ NIPP Projects Coming on Stream

~ Optimization of Generation Installed Capacity

~ New Investment in Transmission

~ Finally Unbundling and Privatization of PHCN



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8. Agitation of Macro-Economy

~ Rise in Inflation

~ Worsening of the Exchange Rate

~ Rise in Interest Rates

9. Rise of False Teachings and Doctrines

~ Full Blown Terrorism by Boko Haram in the North of

Nigeria

~ Disruption of Business and Distribution~ Displacement of People

~ Incipient Sectarian War



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~ Unending Feud in the Plateau

~ Resurgence of Criminality in the South of Nigeria* Kidnapping

* Militancy

* Full blown Oil Theft Regime



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10. Impact of the Sustained Global Economic Downtown

~ Stagnation in the USA

~ Recession in European~ Decelleration in Asia ( Especially China)

~ International Credit Squeeze

~ Continued Poor Performance of the Stock and Capital

Markets.



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Overall Situation

Tough Economic Environment, Worsened by the Security

Imbroglio despite sustained growth in National Income andGDP, but with increased public spending and better levels of

Governance especially from some states of the Nation

Rivers States inclusive.



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1. Strengthen Marketing Muscles and Intensity: Need to

Complete for Diminished Disposable Income

~ Theme~ Scheme

~ Public Relations

2. Intensify in-Reach

~ Optimize Existing Opportunities/Outlets

~ Dig Deeper~ Glean and Comb

~ Attain Higher Output

Key Strategies to Drive Success



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3. Expand Out-Reach

~ New Markets

~ New Products

~ New Niches

~ New Territories

4. Seek Improved Efficiencies

~ Cost Cutting Measure

~ Reappraise Structures: Eliminate Redundancies

~ Check Processes: Step up Speed~ Save on Energy: Seek Options

~ Be Light, Flexible and Motile: Drop Excess Baggage



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5. Apply Total Quality Management Principles

~ Sustain Product/Service Quality

~ Delight Customers

6. Outsource

~ Focus on Core Competencies

~ Release Cash for Core Activities

7. Question All Assumptions

~ No Business as Usual



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8. Justify Every Expenditure

~ Stick to Budget/Plans

~ Review Ratios

~ Eliminate All Eliminatables

~ Avoid All Avoidables

9. Be Careful with Borrowing

~ Flunctuating Interest Rates

~ Flunctuating Exchange Rates

10. Train and Retrain to Sharpen Skills~ Competition is Fierce

~ Lagers will be left Behind



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11. Manage Time Effectively

~ Eliminate Time Wasters

~ Plan and Stick to Plan

~ Schedule all Activities

~ Delegate Appropriately

~ Prioritize



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12. Leverage Resources

~ Pull Resources to Gain Strength

~ Share Resources/Services

~ Share Risks~ Utilize Network

~ Seek Strategic Allowances

~ Consider Mergers and Acquisitions



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13. Optimize Opportunities from the Public Sector

~ Understand how the sector operates

~ Register with the Appropriate MDAs

~ Keep Eyes and Ears Open Newspaper Adverts,Professional Journals and Notice Boards

~ Establish/Strengthen Public Sector Business Desk.



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14. Enthrone Godly Business Conduct

~ Many Businesses Cheat at Several Levels

~ But Everybody finds out sooner or later that allSuccess worth having is founded on Godly Rules of

Conduct.

~ Three Qualities Vital for Success are:

Toil Solitude

Prayer



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~ Six Essential Personal Qualities that are key for

Business Success in 2012 are:

Sincerity

Personal Integrity Humility

Courtesy

Wisdom

Charity

* MUST ADOPT CHRISTIAN BUSINESS ETHICS



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1. Pay Fair and Living Wages

Children of God Must Not Pay Starvation Wages to

their employees. We must be aware of the

consequences.

* Mal. 3:5 And I Will Come Near to You to

Judgement; and I Will be a Swift Witness against theSorcerers, and against False Swearers and against

those that Oppress the hireling in wages,

Be a Just Employer



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The Widow, and the Fatherless and that turn aside the

stronger from his right and fear not Me, saith the Lord

ofHost

2. Prompt Payment of Wages

~ Deut. 24:15 At his day, thou shall give him his

hire, neither shall the Sun go down upon if; for he

is poor, and Setteth his heart upon it; Lest he cryagainst thee unto the Lord and it be Sin unto

thee.



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Consideration for Employees

Job 31:13:14 If I did despise the cause of my

manservant or of my maidservant, when theycontended with me, what then shall I do when God

riseth up? And when He visiteth, what shall I answer

Him?



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Eph. 6:5 And Ye Masters do the same things alsounto them forbearing threatening; Knowing that your

Master also is in Heaven; Neither is there respect of

persons with Him.

Refraining form Threats



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Jerr. 22:13 Woe unto him that buildeth his house byunrighteouness and his chambers by wrong; that useth

his Neighbours Service without and Giveth Him not for

his work.

Not Exacting Service Without Payment



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1. Just DealingCol. 4:1 Masters Give Your Servants that which is just

and equal; Knowing that ye also have a Master in

Heaven.

2. Build a Good Product/Offer a Good Service

~ The Best Quality Possible

~ No Imitations or Fakes

~ No Copyright/Trademark Infringement~ Pr. 22:1 A Good Name is to desired than Great

riches, favour is better than Silver and Gold.



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3. Make a Fair Profit

~ Do not fleece the Customer

~ Do not Profiteer

~ Give the Best Bargain* Pr. 16:8 Better is a little with

righteousness than Great Revenues

without right.



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Be a Godly Leader

The real Performance of a Christian Business is to

glorify God and Lead Others to Christ.

A Business is nothing more than a tool to accomplish

Gods Work

~ Col. 3:23 And whatever you do, do it

heartily as to the Lord and Not unto Men.



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1. A Life Free From Sin and Corruption

~ The Presence of the Holy Spirit in Our Lives will

Help Us Keep Away from every Sin and

Corruption.~ Eze. 36:27 And I will put my Spirit within you and

cause you to walk in my statutes and ye shall

keep my judgements and do them.



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2. Do Not Demand or Receive Bribe

* Remember that;

~ Lk. 12:2 There is nothing Covered that shall not

be revealed, neither hid that shall not be known.

3. Must not Cut Corners

~ Eccl. 12:14 For God shall Bring every work unto

judgement, with every secret thing, whether it beGood or whether it be evil.



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4. No Compromise with Sin or Evil

~ 2ndTm. 2:19 But Those who name the name of

Christ must depart from Iniquity.

5. No Cheating in any Form or Shade

~ Pr. 20:17 Bread obtained by Falsehood is Sweet

to a man, but afterward his mouth will be filled

with gravel.



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6. Avoid Hypocrisy Like a Plaque

~ Practice What Your Preach

~ Leady by Example

~ Take a Stand outside and live with it inside thecompany.

~ Rm. 2:21 Thou therefore who teachest another,

teachest not thyself? That Preachest a man

should not steal, Dost Thou Steal?



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Look at St. Paul:

~ Rm. 7:15 For what I am doing, I do notunderstand. For What I will do, that I do not

Practice; But what I hate that I do.

~ Rm. 7:17 But now, it is no longer I who do it, but

Sin that dwells in me.

* SO WHAT TO DO?

But We Need Help Difficult by Own Power



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Invite Jesus into Your Life and Business

~ John 15:5 I am the Vine, Ye are the Branches. He

that abides in me and I in him, the same bringethforth much Fruit; For without me Ye can do

nothing.

~ Remember its mens to fight, but God gives success.




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~ Is. 43:2 When you pass through the waters, I will be

with you; and when you pass through the rivers,

they will not sweep over you.. When you walk

through the fire, you will not be burned; Neither

shall the flame kindle upon thee.




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The Story of the Master Fisherman Lk. 5:1-7

We Need the True God in these Challenging and

Perilous Times.

LET US PRAY



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THANK YOU

ANDGOD BLESS

SIR (MAZI) SAM I. OHUABUNWA, OFR

key stategies for driving enconomic

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