The Lagos Business School
Volume 6 No 2 July - December 2001
LOGISTICS MANAGEMENT IN NIGERIA: SOME SURVEY RESULTS
During the last few years the word logistics has become a more frequently used word in the business community. Widely viewed as one of the most critical means of improving profitability, many organizations now integrate most of their materials management and distribution processes into a logistics supply chain. This paper outlines the eight basic principles of logistics excellence, which can readily be used as criteria in the evaluation of the operations and practices of logistics management. A survey of the management of logistics by some Nigerian companies is also included.
A PRAGMATIC APPROACH TO MARKETING OF BANKING PRODUCTS
For banks to survive in the highly competitive Nigerian environment, they need to innovate in marketing and customer relationship management. This article is based on the highlights of a recent survey of the industry and the implications of the findings. The perceptions and attitudes of the contemporary bank customer are examined. Customers' expectations are identified as speed, accuracy and simplicity. Strategies for success are outlined, including as principal elements superior service quality, relationship management and offering customer value.
PIRACY AND COUNTERFEITING - The Price Of Marketing Success
In recent times Nigeria has become a huge dumping ground for all types of substandard goods manufactured in the Far East. This article indicates what product categories brands are vulnerable to pirating and counterfeiting, and gives data on the extent of product piracy in Nigeria. Making special reference to the pharmaceutical industry, the implications of counterfeit drugs on the Nigerian economy, reputation and public health are reviewed. Finally, specific proposals are made to protect brands and contain the scourge of counterfeiting and pirating.
IDENTIFYING BUSINESS OPPORTUNITIES
One of the major reasons for entrepreneurs' failure is poor analysis before investment. This article reviews the essential elements for success: a unique business idea, a business concept that makes the entrepreneur stand out of the crowd, and the ability to distinguish between a nice idea and a real opportunity. Important sources of business opportunities are identified: unsatisfied needs due to the difficult economic environment, and new avenues opened by changes in government regulations, demography and technology.
THE TRAINING & DEVELOPMENT FUNCTION AND THE POWER OF GETTING
The quality of an organization's human resources is key to success, and much of it is a function of training and development. In this article the author examines 1) the concept and the sources of power, 2) the challenges faced by T&D specialists in the fulfillment of their function, 3) the power position of T&D specialists in 21 well-known organizations in Nigeria, and finally 4) possible actions to increase the power - i.e. the impact and indirectly the status - of the T&D function, namely focusing on the strategic goals of the organization, developing expertise, managing costs carefully and communicating benefits, and enhancing interpersonal skills.