Strategy and Management

  1. Enterprise and Development
Training programme: In other to eradicate poverty in one of the eight millennium development goal, we have to encourage existence and development of enterprise businesses.

In modern world, entrepreneurship businesses have been largely encouraged and have been identified as a necessary catalyst to economic development.

How to identify a profitable enterprise:

  • Study the environment (Competitors, regulatory bodies) and the market (Demand) for the commodity
  • Determine the right product to sell
  • Understand intended consumer’s behaviour
  • Use a suitable costing technique (Target costing, Life cycle costing, Activity base costing, Cost+plus
  • Request for consumer’s feedback
What to do in other to remain in the business:
  • Pay attention to environmental changes (regulation and competition)
  • Pay attention to consumers
  • Embrace technology advancement
  • Risk analysis