Promoting Creativity, Knowledge, Ethics, Entrepreneurship and Management Excellence

KEY STRATEGIES
FOR DRIVING

ECONOMIC/BUSINESS SUCCESS IN 2012

Copyright: Sam Ohuabunwa Foundation for Economic Empowerment (SOFEE) (2012)
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PRESENTED AT THE 2012 INTERNATIONAL CHRISTIAN – BUSINESS EXHIBITION/CONFERENCE BY

SIR (MAZI) SAM I. OHUABUNWA, OFR FOUNDER/CHAIRMAN

SAM OHUABUNWA FOUNDATION FOR ECONOMIC EMPOWERMENT (SOFEE)
PORT HARCOURT, AUGUST 11, 2012
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CURRENT OPERATING ENVIRONMENT/ BUSINESS CHALLENGES
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

1.

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

Copyright: Sam Ohuabunwa Foundation for Economic Empowerment (SOFEE) (2012)
SOFEE…..Promoting Creativity, Knowledge, Ethics, Entrepreneurship and Management Excellence
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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

Copyright: Sam Ohuabunwa Foundation for Economic Empowerment (SOFEE) (2012)
SOFEE…..Promoting Creativity, Knowledge, Ethics, Entrepreneurship and Management Excellence
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4.

Increased Public Sector Expenditure on Capital and Social Projects ~ Subsidy Reinvestment and Empowerment Programme ~ Roads and Bridges ~ Railways ~ Mass Transit

Copyright: Sam Ohuabunwa Foundation for Economic Empowerment (SOFEE) (2012)
SOFEE…..Promoting Creativity, Knowledge, Ethics, Entrepreneurship and Management Excellence
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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).

Copyright: Sam Ohuabunwa Foundation for Economic Empowerment (SOFEE) (2012)
SOFEE…..Promoting Creativity, Knowledge, Ethics, Entrepreneurship and Management Excellence
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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
Copyright: Sam Ohuabunwa Foundation for Economic Empowerment (SOFEE) (2012)
SOFEE…..Promoting Creativity, Knowledge, Ethics, Entrepreneurship and Management Excellence
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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

Copyright: Sam Ohuabunwa Foundation for Economic Empowerment (SOFEE) (2012)
SOFEE…..Promoting Creativity, Knowledge, Ethics, Entrepreneurship and Management Excellence
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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
Copyright: Sam Ohuabunwa Foundation for Economic Empowerment (SOFEE) (2012)
SOFEE…..Promoting Creativity, Knowledge, Ethics, Entrepreneurship and Management Excellence
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~ Unending Feud in the Plateau ~ Resurgence of Criminality in the South of Nigeria * Kidnapping * Militancy * Full blown Oil Theft Regime

Copyright: Sam Ohuabunwa Foundation for Economic Empowerment (SOFEE) (2012)
SOFEE…..Promoting Creativity, Knowledge, Ethics, Entrepreneurship and Management Excellence
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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.

Copyright: Sam Ohuabunwa Foundation for Economic Empowerment (SOFEE) (2012)
SOFEE…..Promoting Creativity, Knowledge, Ethics, Entrepreneurship and Management Excellence
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Overall Situation Tough Economic Environment, Worsened by the Security Imbroglio despite sustained growth in National Income and GDP, but with increased public spending and better levels of Governance especially from some states of the Nation – Rivers States inclusive.

Copyright: Sam Ohuabunwa Foundation for Economic Empowerment (SOFEE) (2012)
SOFEE…..Promoting Creativity, Knowledge, Ethics, Entrepreneurship and Management Excellence
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Key Strategies to Drive Success

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
Copyright: Sam Ohuabunwa Foundation for Economic Empowerment (SOFEE) (2012)
SOFEE…..Promoting Creativity, Knowledge, Ethics, Entrepreneurship and Management Excellence
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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
Copyright: Sam Ohuabunwa Foundation for Economic Empowerment (SOFEE) (2012)
SOFEE…..Promoting Creativity, Knowledge, Ethics, Entrepreneurship and Management Excellence
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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
Copyright: Sam Ohuabunwa Foundation for Economic Empowerment (SOFEE) (2012)
SOFEE…..Promoting Creativity, Knowledge, Ethics, Entrepreneurship and Management Excellence
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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
Copyright: Sam Ohuabunwa Foundation for Economic Empowerment (SOFEE) (2012)
SOFEE…..Promoting Creativity, Knowledge, Ethics, Entrepreneurship and Management Excellence
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11. Manage Time Effectively ~ Eliminate Time Wasters ~ Plan and Stick to Plan ~ Schedule all Activities ~ Delegate Appropriately ~ Prioritize

Copyright: Sam Ohuabunwa Foundation for Economic Empowerment (SOFEE) (2012)
SOFEE…..Promoting Creativity, Knowledge, Ethics, Entrepreneurship and Management Excellence
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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

Copyright: Sam Ohuabunwa Foundation for Economic Empowerment (SOFEE) (2012)
SOFEE…..Promoting Creativity, Knowledge, Ethics, Entrepreneurship and Management Excellence
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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.

Copyright: Sam Ohuabunwa Foundation for Economic Empowerment (SOFEE) (2012)
SOFEE…..Promoting Creativity, Knowledge, Ethics, Entrepreneurship and Management Excellence
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14. Enthrone Godly Business Conduct ~ Many Businesses Cheat at Several Levels ~ But Everybody finds out sooner or later that all Success worth having is founded on Godly Rules of Conduct. ~ Three Qualities Vital for Success are:  Toil  Solitude  Prayer
Copyright: Sam Ohuabunwa Foundation for Economic Empowerment (SOFEE) (2012)
SOFEE…..Promoting Creativity, Knowledge, Ethics, Entrepreneurship and Management Excellence
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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

Copyright: Sam Ohuabunwa Foundation for Economic Empowerment (SOFEE) (2012)
SOFEE…..Promoting Creativity, Knowledge, Ethics, Entrepreneurship and Management Excellence
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Be a Just Employer

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 the Sorcerers, and against False Swearers and against those that Oppress the hireling in wages,
Copyright: Sam Ohuabunwa Foundation for Economic Empowerment (SOFEE) (2012)
SOFEE…..Promoting Creativity, Knowledge, Ethics, Entrepreneurship and Management Excellence
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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 of Host”

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 cry against thee unto the Lord and it be Sin unto thee.”
Copyright: Sam Ohuabunwa Foundation for Economic Empowerment (SOFEE) (2012)
SOFEE…..Promoting Creativity, Knowledge, Ethics, Entrepreneurship and Management Excellence
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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 they contended with me, what then shall I do when God riseth up? And when He visiteth, what shall I answer Him?”

Copyright: Sam Ohuabunwa Foundation for Economic Empowerment (SOFEE) (2012)
SOFEE…..Promoting Creativity, Knowledge, Ethics, Entrepreneurship and Management Excellence
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Refraining form Threats

Eph. 6:5 “ And Ye Masters do the same things also unto them forbearing threatening; Knowing that your Master also is in Heaven; Neither is there respect of persons with Him.”

Copyright: Sam Ohuabunwa Foundation for Economic Empowerment (SOFEE) (2012)
SOFEE…..Promoting Creativity, Knowledge, Ethics, Entrepreneurship and Management Excellence
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Not Exacting Service Without Payment

Jerr. 22:13 “Woe unto him that buildeth his house by unrighteouness and his chambers by wrong; that useth his Neighbours Service without and Giveth Him not for his work.”

Copyright: Sam Ohuabunwa Foundation for Economic Empowerment (SOFEE) (2012)
SOFEE…..Promoting Creativity, Knowledge, Ethics, Entrepreneurship and Management Excellence
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1. Just Dealing Col. 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.”
Copyright: Sam Ohuabunwa Foundation for Economic Empowerment (SOFEE) (2012)
SOFEE…..Promoting Creativity, Knowledge, Ethics, Entrepreneurship and Management Excellence
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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.”

Copyright: Sam Ohuabunwa Foundation for Economic Empowerment (SOFEE) (2012)
SOFEE…..Promoting Creativity, Knowledge, Ethics, Entrepreneurship and Management Excellence
29

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 God’s Work ~ Col. 3:23 “And whatever you do, do it heartily as to the Lord and Not unto Men.”
Copyright: Sam Ohuabunwa Foundation for Economic Empowerment (SOFEE) (2012)
SOFEE…..Promoting Creativity, Knowledge, Ethics, Entrepreneurship and Management Excellence
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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.”

Copyright: Sam Ohuabunwa Foundation for Economic Empowerment (SOFEE) (2012)
SOFEE…..Promoting Creativity, Knowledge, Ethics, Entrepreneurship and Management Excellence
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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 be Good or whether it be evil.”
Copyright: Sam Ohuabunwa Foundation for Economic Empowerment (SOFEE) (2012)
SOFEE…..Promoting Creativity, Knowledge, Ethics, Entrepreneurship and Management Excellence
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4. No Compromise with Sin or Evil ~ 2nd Tm. 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.”

Copyright: Sam Ohuabunwa Foundation for Economic Empowerment (SOFEE) (2012)
SOFEE…..Promoting Creativity, Knowledge, Ethics, Entrepreneurship and Management Excellence
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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 the company. ~ Rm. 2:21 “Thou therefore who teachest another, teachest not thyself?” That Preachest a man should not steal, Dost Thou Steal?

Copyright: Sam Ohuabunwa Foundation for Economic Empowerment (SOFEE) (2012)
SOFEE…..Promoting Creativity, Knowledge, Ethics, Entrepreneurship and Management Excellence
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 But We Need Help – Difficult by Own Power
Look at St. Paul: ~ Rm. 7:15 “For what I am doing, I do not understand. 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?
Copyright: Sam Ohuabunwa Foundation for Economic Empowerment (SOFEE) (2012)
SOFEE…..Promoting Creativity, Knowledge, Ethics, Entrepreneurship and Management Excellence
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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 bringeth forth much Fruit; For without me Ye can do nothing.”

~ Remember its men’s to fight, but God gives success.
Copyright: Sam Ohuabunwa Foundation for Economic Empowerment (SOFEE) (2012)
SOFEE…..Promoting Creativity, Knowledge, Ethics, Entrepreneurship and Management Excellence
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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.”

Copyright: Sam Ohuabunwa Foundation for Economic Empowerment (SOFEE) (2012)
SOFEE…..Promoting Creativity, Knowledge, Ethics, Entrepreneurship and Management Excellence
37

 The Story of the Master Fisherman Lk. 5:1-7  We Need the True God in these Challenging and Perilous Times.

 LET US PRAY
Copyright: Sam Ohuabunwa Foundation for Economic Empowerment (SOFEE) (2012)
SOFEE…..Promoting Creativity, Knowledge, Ethics, Entrepreneurship and Management Excellence
38

THANK YOU AND GOD BLESS
SIR (MAZI) SAM I. OHUABUNWA, OFR
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