The Live session of Tekedia Mini-MBA ed 15 will begin on Saturday at 7pm WAT. I will teach the mission of firms, and the very reason why we need to have companies. That understanding is very fundamental as we begin a 12-week academic journey to master the mechanics of building companies and advancing professional careers.
Every company in the world has three things to work with: tools, people and processes. Those elements and how you assemble, organize and combine them, will determine so many things in your firm. With them and through them, you will turn inputs (and foundational factors of production) into outputs. The translation of that input into output is what companies do.
But this is not a game where you score yourself because your output must fix the frictions which the customers have. If you create a great output (yes, product or service), the customers will support you, and invest in your mission because your output has solved a problem they have. Hahaha – when they pay you, you earn revenue, and that revenue is the compensation for products you have given them to overcome their frictions. We will look at case studies.
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In secondary school physics, you know what frictions are: resistive forces which must be overcome by another force if you must move from one state to another. In other words, a man who is hungry has a friction of hunger, and that hunger must be overcome by another force. That force is FOOD, as when he eats that food, he moves from a state of hunger to a state of being fed! Making that “force of food” amazing is the bedrock of a great restaurant business!
In all forms and ways, companies create FORCES, called products and services. And the best companies are known by their forces (yes, products or services) they make. Apple for iPhone. Dufil Prima for Indomie Noodles. Dangote for cement. McKinsey for advisory.
I welcome everyone to Africa’s finest school for the understanding of the physics of entrepreneurial capitalism. More than 70 professionals, from Google, Access Bank, Microsoft, SAP, NATO Europe, Amazon, Nigerian Breweries, etc will be teaching in this edition. Welcome and thank you for joining us. (Get your Zoom link here )
Ndubuisi Ekekwe;
Lead Faculty, Tekedia Institute
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Register for Tekedia Mini-MBA (Sept 9 – Dec 7, 2024), and join Prof Ndubuisi Ekekwe and our global faculty; click here.
