LBSAA Footprints - First Issue 2020 by lbsaafootprints

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Editor's desk About Lagos Business School About Lagos Business School Alumni Association LBS is number one From the Corporate Communications desk Faculty update Cover story: The rise of Sycamore.ng Research news Home front The future of work takes centre stage at 2019 Lagos Business School Alumni Day The MBA hangout: Alumni gather for a night of learning, networking & fun

48 LBS Insight Marketing in the COVID-19 era: Take a step back COVID-19: Organisations and employees must collaborate Disruption, Agility and Resilience in a Pandemic

58 LBSAA & COVID-19: Alumni aid in the fight against the pandemic 62 Features The broken window theory CORONA WAR -What Can You Do?

Making the best of the COVID -19 situation â&#x20AC;&#x201C; Personal perspective LBS Alumni share why they return for more

72 Alumni in the news 78 Alumni Happenings 80 Class notes

Footprints is published by the Lagos Business School Alumni Association ( LBSAA)

Editor Henry Andoh

Deputy Editor Uzo Ofoma Chukwuma

Editorial Advisers Aderayo Bankole Dr Eugene Ohu Joan Egwuterai

All correspondence goes to: handoh@lbs.edu.ng

Through the valley... Barely five months ago, we celebrated the start of another decade and looked forward to a promising leap year. Major global events such as the 2020 Olympics & Dubai Expo 2020, which were planned many years ahead, were finalising preparations; Japan and the UAE were ready to accept the thousands of tourists waiting to fill their airports and explore their cities. Like a thief in the night, COVID-19 grew into a pandemic and sabotaged all plans, shut down the busiest cities and confined the human race to their homes. All events have been, at best, postponed. No one, including the most advanced economies, prepared for such a black swan event that froze the major stock markets and ceased trade & travel; it is no news that life as we know it has changed and may never be the same again. New terminologies such as “social distancing” are now part of our everyday lingo and we have switched from physical to virtual meetings and conferences. Like a seed that must die so the plant may live, we have to let go of some old habits and learn new ways to connect and engage and tap into the new opportunities so that we may thrive. As a school, we have remained resilient in ensuring our alumni and participants are engaged as they observe the shutdowns in their various locations. From Health to Finance to Business & Corporate strategy, we have continuously conducted free webinars facilitated by our faculty and other industry experts, for learning and networking among alumni. The recordings of these webinars can be accessed via our exclusive online community at lbsalumniconnect.com. We have also included a free business directory on this platform to allow our alumni showcase their products and services for others to patronise and/or invest in. In this issue, we focus on the opportunities in these times and other positive activities, such as the efforts of our alumni classes as they stand against the adverse effects of the pandemic. Our alumni have generously donated their time, treasure and talent in various communities in dire need of basic necessities to survive. We also follow the story of three FTMBA alumni, who saw opportunity in the small print of a business case and created a successful financial services company with a mission to aid in the alleviation of poverty in Nigeria. As usual, we share our faculty insight on current issues in our environment and report on any update in their activities such as the inaugural lectures of our latest professors, Olayinka David-West and Enase Okonedo. Enjoy the pictures and reports in our home front section, as we showcase the Alumni Day and the MBA Hangout. Our Alumni are still making waves in their institutions and society as shared in our “Alumni in the News” section. If there is one thing we have all learned from this pandemic, it is the fact that all things begin again in the nuclear; we must develop ourselves, our families and then each other. More than ever, we should reach out and hold on strongly to the bonds formed during our days together at school. Together, we are more assured that we will make it through the valley and come back on top as always. Keep staying safe wherever you are and keep keeping the bond.

Director, Alumni Relations Footprints | First issue 2020

ABOUT

L LAGOS BUSINESS SCHOOL

agos Business School (LBS) is the graduate business school of Pan-Atlantic University and was founded on inspirations from the teachings of St Josemaria EscrivĂĄ, the founder of Opus Dei. LBS offers academic programmes, executive programmes and short courses (customised to specific company needs, as well as openenrolment courses) in management. Its offerings have been accredited globally and ranked among the best in Africa, as it systematically strives to improve the practice of management on the continent. The business school's efforts have been recognised by several world-class accreditations and rankings. Besides the quality bar set at worldstandards, LBS programmes also stand out because of the emphasis on professional ethics and service to the community.

Education at LBS is comprehensive, drawing on the experiences of a multinational faculty and participants. Learning is participant-centred and uses the case study method. Activities hold on the school's purpose-built facilities which serve more than 3,000 participants yearly from indigenous and multinational companies. These attest to the expert teaching, the relevance of the programmes and the overall benefits derived from attending. LBS has a robust alumni association with more than 6,000 members. This asset base, as well as the close relationship with the corporate world, ensures that the programmes offered, as well as having international standards, also has local relevance.

Lagos Business Schoolâ&#x20AC;&#x2122;s custom executive education has been ranked number one in Africa and among the top 50 in the world on the 2020 Financial Times list

Lagos Business School

Learning at LBS is based on a Christian conception of the dignity of man, of society and economic activity. The Prelature of Opus Dei, an institution of the Catholic Church, takes responsibility for guaranteeing that this vision underlies all teaching, publishing and research activities of the School. LBS is a member of the Association of African Business Schools (AABS), the Global Business School Network (GBSN), the Principles for Responsible Management Education (PRME), AACSB InternationalThe Association to Advance Collegiate Schools of Business and the Graduate Management Admission Council (GMAC), alongside 220 leading graduate business schools worldwide. GMAC is an organisation of leading graduate management schools in the world and the owner of the GMAT exam. In recognition of the quality of Lagos Business School's programmes and of being structured in line with global best practices, it has received several international accreditations. LBS is the first business school in West, East and Central Africa regions to be accredited by The Association of MBAs (AMBA). This puts LBS amongst the exclusive group of only 2% of business schools in 70 countries to achieve this accreditation. The Association to Advance Collegiate Schools of Business (AACSB) has also accredited LBS, the first institution to be so recognised in all of West Africa. LBS thus joined the league of less than 5% of business schools globally, to be accredited by AACSB in December 2016. This accreditation affirms Lagos Business School's undeniable commitment, over the last 29 years, to world-class standards in teaching, learning, research, academic and professional management. LBS has been ranked every year, since 2007 by the Financial Times of London, among the top global providers of open enrolment executive education and in custom executive education since 2015. The latter ranked number one in Africa on the 2020 Financial Times list. LBS' MBA programmes have held Tier One positions on CEO Magazine's Global MBA rankings for three consecutive years. The School is also listed among the top 50 global business schools on The Economist magazine's 2018 Executive MBA ranking.

ABOUT LAGOS BUSINESS SCHOOL

ALUMNI ASSOCIATION

he Lagos Business School Alumni Association (LBSAA) draws its charter from the vision of Lagos Business School (LBS). The Association is not a social organisation. It exists to support the aims and objectives of LBS. AIMS OF THE LBSAA The aims of the LBS Alumni Association are linked with those of the School. They include the following: 1.

To promote continuous education for its members and forge a stronger relationship among them

To support LBS in its aims and objectives

To render service to the society, especially in the area of public and private management

To adopt such other objectives as may generally be in the interest of the Association and/or Lagos Business School

Members actively receive continuous education through alumni sessions held all year long. There is also the annual alumni conference held in November which features very highprofile speakers. Active participation in the sessions affords alumni the opportunity to effectively and continually update their knowledge of general management and business issues. In addition, there are a variety of discounts from corporate bodies ranging from international airlines and major hotels within and outside the country to internet service providers, bookshops, laundry services, etc. available to financial members of the LBSAA. They also benefit from discounts on all LBS executive programmes and seminars throughout the year. The LBS alumni network is one of the most influential among business schools in Africa. Active participation in alumni programmes and constant visits to the alumni networking platform, https://lbsalumniconnect.com help members stay connected with former course mates, faculty and other alumni. Alumni also benefit from access to research materials available at and through the LBS library.

MEMBERSHIP Currently, the LBSAA has a membership of over 6,700. The Association comprises chief executives, owner-managers, executive directors, senior and middle-level managers who have successfully completed the School's varying executive programmes: the Chief Executive Programme (CEP), the Owner-Manager Programme (OMP), the Advanced Management Programme (AMP), the Senior Management Programme (SMP), the Management Acceleration Programme (MAP), the Agri-Business Management Programme (AgMP) and the various MBA programmes. It also includes full-time faculty of the School.

Lagos Business School

Chika Amah-Otu, FTMBA 10

Ekaette Umoh, OMP 21 Yahaya Yusuf, OMP 20 Adeola Remi-John, OMP 17 Southern/South Eastern Zone

Harrison Ero, OMP 23 Tejumola Ajibowo, AMP 28 Kwathar Bolajoko Odukoya, OMP 19

Footprints | First issue 2020

From The Corporate Communications Desk

Aderayo Bankole and Toluwalope Omoyeni

LBS is NUMBER ONE ranking table, LBS is the 1st in Africa. It holds the 41st spot globally, moving seven places up from its 48th position in 2019. In Open Enrolment, LBS ranks among top business schools like University of Oxford: Saïd and IESE Business School. LBS Dean, Professor Enase Okonedo said, “We are incredibly proud to be recognised by the Financial Times of London for the 14th year in a row. At Lagos Business School, we actively seek and remain conscious of the unique needs of organisations and their executives; our Executive Education programmes are designed to address them.”

agos Business School's Custom Executive Education has been ranked number one in Africa and among the top 50 in the world by the Financial Times (FT). This is the 14th consecutive year the School is featuring on the list. The combined ranking which evaluates the performance of top 50 business schools across the world in the areas of Open Enrolment and Custom Executive Education puts Lagos Business School (LBS) at the 47th position. On the Custom

“This ranking comes at a time when the world is witnessing an unprecedented pandemic challenge and its attendant fallout. For us at LBS, it presents another opportunity to help business leaders and managers navigate this challenge; this recognition by FT validates our ability to deliver,” she added. Lagos Business School attracts hundreds of participants to its open enrolment and custom programmes annually. Its programmes are designed to meet the needs of diverse participants and in line with the rapid changes in Africa's business environment.

LBS MBA programmes maintain Tier One status on CEO Magazine global ranking

or the third year in a row, Lagos Business School's (LBS) Full-Time and Executive MBA programmes have maintained their status as Tier One programmes according to the 2020 Global Executive MBA Rankings released by CEO Magazine.

Speaking on the ranking, MBA Director, Uchenna Uzo said, “That our Full-Time and Executive MBA programmes have been ranked in the Tier One category of the CEO Magazine Global ranking for three consecutive years is a tremendous feat that attests to the excellent quality of these programmes”.

CEO Magazine ranks business schools based on criteria such as quality of faculty, accreditation, international diversity and exposure, professional development, gender parity, among others. It has been profiling MBA, Executive MBA and Online MBA programmes in top business schools across the globe since 2012.

“The top criteria for this year's ranking was Quality of Faculty and we are confident that at Lagos Business School, we have a well-rounded faculty with industry experience and rich academic background who are committed to leaving each participant with a meaningful experience.”

For the 2020 ranking, the magazine reached out to 161 schools across 27 countries in North America, Europe, Africa, Australia and New Zealand, representing the highest number of schools that have participated till date.

Lagos Business School

LBS has also featured on the Financial Times Executive Education ranking for 13 consecutive years and its Open Enrolment Executive Education was ranked as the second best in Africa.

From The Corporate Communications Desk School, which was said to be authentic and distinctive. The external stakeholders who were met during the assessment also spoke of the importance of business ethics in the School and believed this could be a source of positive change in Nigeria. The School was commended by the panel for its open and transparent leadership team which is committed to quality and continuous improvement, with an inclusive corporate culture. This was exemplified by the welldeveloped operational structure of the School. The panel also commented on the extensiveness of the executive education offered at Lagos Business School, which they thought added to the enrichment of the MBA programmes. The MBA programmes were also seen to be aided by the impressive facilities of the School which had just been newly expanded. The panel agreed that this would allow for greater innovation in programme delivery.

agos Business School has officially received reaccreditation from the Association of MBAs (AMBA), one of the world's leading authorities on postgraduate business education, demonstrating its continuing commitment to excellence in management education. Accreditation from the Association of MBAs (AMBA) represents the highest standard of achievement in postgraduate business education. Its rigorous assessment criteria ensure that only the highest-calibre programmes which demonstrate the best standards in teaching, curriculum, and student interaction achieve Association of MBAs accreditation. Lagos Business School is the graduate Business School of PanAtlantic University (PAU). The School offers a full-time MBA, a part-time executive MBA and a modular executive MBA. Members of AMBA's visiting accreditation panel, representing senior management at AMBA-accredited Business Schools globally, commended the ethical positioning of the Business

Dean of Lagos Business School, Professor Enase Okonedo said, 'AMBA re-accreditation is an external validation of our excellent quality; our goal is through our MBA programmes and other executive programmes, to develop responsible leaders who are solving Africa's social and institutional business problems.' The accreditation is international in scope and reach, and AMBA works under the belief that accredited programmes should be of the highest standard and reflect changing trends and innovation in postgraduate management education. Its accreditation process reflects this commitment to fostering innovation and demanding Business Schools to perform at the highest level continually. Andrew Main Wilson, Chief Executive of AMBA & BGA, said: 'Lagos Business School is an important part of the AMBA community. AMBA only accredits programmes from the top 2% of Business Schools from more than 75 countries.'

Executive MBA 25 student, Nnanna Madu emerges winner of LBS Entrepreneurship Contest

obeei, a freecycling application developed by Executive MBA (EMBA 25) student, Nnanna Madu has emerged winner of the 2020 Entrepreneurship Expo and Contest Programme organised by the MBA department of Lagos Business School (LBS). Madu's company received the first prize of investment between $20,000 and $2 million in the form of technical expertise and development. The Entrepreneurship Expo & Contest which held virtually on Saturday, May 16, 2020, is an avenue for entrepreneurs in all LBS MBA cohorts to showcase their purpose-driven businesses, products and services to investors, successful entrepreneurs (LBS alumni and others). It also helps to stimulate entrepreneurial initiative among MBA students.

Six out of 14 original contestants were selected to deliver a 5minute pitch of their growth plan to investors. The finalists included: At Your Service, a Human Resource company founded by FullTime MBA 18 student, Uchenna Okezie KoWork NG, a business support company, owned by Teinye Isokariari of Modular Executive MBA 7 Zing Communications, an internet radio station tailored to the interests of children and young adults and founded by MEMBA 7 student, Anuli Ajayi

Footprints | First issue 2020

Surtii, a fintech solution business run by Nnaemeka Nwosu of Modular MBA 1 Fresh Farmers Market, a combined e-commerce, intercity ride-hailing and logistics company owned Matthew Nyiakura of MEMBA 8 Hobeei, a freecycling app that connects people with unwanted possessions to others who need them founded by Executive MBA 25 student, Nnanna Madu The contestants were judged by representatives of three investors, Faster Capital who presented the first prize, Double Feather Partner, and Spurt Group. Alongside the first prize of investment, Hobeei will receive three months of free business advisory worth N2.4m in value from Spurt Group and N100,000 cash prize from Lawrence Egunjobi on behalf of i-impact Thermal Papers. All six contestants will join the Double Feather Partner investment pipeline and will be able to tap into their global network of investors. The event moderated by LBS Entrepreneurship Faculty, Dr Henrietta Onwuegbuzie also featured a panel session of top business owners in Nigeria including alumnus and CEO, Auldon

Limited, Paul Orajiaka; alumna and online course expert, Stephanie Obi; and founder of CleanMax Industries, Richmond Okafor. The keynote address was delivered by CEO and Founder, Interswitch Group, Mitchell Elegbe, who spoke extensively on business innovation, especially as it concerns the changing needs of customers. According to Elegbe, “Financial capital is necessary for business growth, but it is not sufficient. Sustainable value can only be created when operational excellence, product leadership and customer intimacy become the goal for businesses”. He went on to advise the entrepreneurs to “design for seasons but be discerning enough to recognise times”.

Introducing the 2020 Lagos Business School Nonprofit Management Senior Fellows We are delighted to welcome our 2020 Senior Fellows on the Lagos Business School Nonprofit Leadership and Management Programmes designed to develop a pipeline of young, ethical and competent leaders for the nonprofit sector. Our nonprofit programmes are certificate courses delivered by LBS faculty in collaboration with nonprofit sector practitioners. The programmes are supported by a grant from Ford Foundation West Africa.

Misan Rewane Founder, WAVE Academy

On the nonprofit programmes, participants gain a deeper understanding of 21st Century nonprofit leadership drawing on feminist leadership perspectives and strategies. They explore the fundamentals of social innovation and business; including how to define strong mission statements, manage operational and financial controls, as well as strengthen fundraising and revenue generation efforts. Through these programmes, they learn to advance powerful innovative ideas into high-impact realities, and effectively apply management skills to nonprofit sector work. Our 2020 Senior Fellows, Misan Rewane (Founder, West Africa Vocational Education - WAVE Academy) and Osayi Alile (Chief Executive Officer, Aspire Coronation Trust – ACT Foundation) would strengthen the connection between theory and practice, offering participants insights into the nature of nonprofit management problems and proffering practical solutions.

Osayi Alile CEO, Aspire Coronation Trust (ACT) Foundation

As Senior Fellows, they would serve as resource persons and thought leaders, forging new partnerships between the academic, business and nonprofit sectors. This allows for the articulation and dissemination of knowledge and insights gained from their experience leading change through nonprofits.

Lagos Business School

Lagos Business School MBA students display public speaking skills at debut keynote competition

ull-time MBA 17 student, Oluwatosin Yadeka has emerged winner of the debut edition of the Lagos Business School Mini-Keynote Competition held at the Honeywell Auditorium on October 26, 2019. The mini-keynote competition is a newly introduced, innovative activity that allows students on the LBS Full-Time MBA, Executive MBA and Modular Executive MBA programmes to improve on their knowledge of effective public speaking and learn best practices to hone their public speaking skills. Out of nine competing speakers, Yadeka landed the top prize of N250,000 with a presentation on “How N i g e r i a n Professionals Can Thrive in the Age of Automation and Artificial Intelligence (AI)”. She opened her speech with a brief talk on the birth of Artificial Intelligence during World War I, how machines were designed to think and how Nigerian business professionals and executives can take advantage of AI for effective problem-solving.

The speakers were judged by a panel of communication experts including Lagos Business School Communications Coach, Lucille Ossai; Communications facilitator, Atinuke Adelakun; MD/CEO, TVC Communications, Andrew Hanlon among others. Speaking on the benefits of the competition, Ossai said, “The mini-keynote competition will position LBS as a l e a d e r i n communication support programmes since no other business school in Africa has launched a similar initiative. Specifically, LBS will be the only business school among its sister schools and its African competitors to launch this i n n o v a t i v e programme.” The first and second runners-up walked away with cash prizes of N150,000 and N100,000 respectively. The competition which was sponsored by the LBS chapter of academic honour society, Beta Gamma Sigma, will be held annually.

LBS Sustainability Centre and ACT Foundation train 40 youth on sustainable waste management

ORTY young Nigerians in the waste management industry were, on October 2 – 29, 2019, trained by Lagos Business School (LBS) on innovative and sustainable methods of waste collection, removal, processing, recycling and disposal. Developed by the Lagos Business School Sustainability Centre with support from the Aspire Coronation Trust (ACT) Foundation, the Leadership Programme for Sustainable Waste Management is an entrepreneurial platform for sustainable youth empowerment in mitigating the environmental and health implications of improper waste management. It also aims at improving the operational and financial viability of waste management businesses.

Participants were exposed to topics such as Emerging Technologies for Sustainable Waste Management, Circular Economy and Waste Prevention, Socio-Environmental Impact in Waste Management, Human Capital Sustainability in Waste Management, Duty of Care and Extended Producer Responsibility, among others. The Director, LBS Sustainability Centre, Prof Chris Ogbechie remarked that “the programme aims to support young entrepreneurs in Nigeria to create socio-economic value and address pressing environmental challenges through responsible business ventures. This programme is one of the ways LBS advances environmental sustainability through management education.”

The one-month programme was delivered by LBS faculty and other local and global experts in the private and public sectors. Footprints | First issue 2020

Sharing his experience on the programme, participant, Alexander Akhigbe who is the founder of the African Cleanup Initiative, described it as an investment he will forever cherish. Akhigbe also added that one of the key takeaways from the programme was the lesson on personal branding delivered by LBS Marketing Faculty, Dr Uchenna Uzo. “I have learned about the significance of personal and organisational branding and the need to develop products and solutions that target a particular market per time. I am mostly impressed because I never imagined that I would be picking up lessons in branding and marketing from a waste m a n a g e m e n t programme. This goes to show how rich the content of the programme was,” said Akhigbe. Lessons on the Sustainable Waste Management programme were taught using in-class and online lectures, expert panel sessions, and case study discussions. Participants also had a one-day experiential one learning tour at the Lagos Waste Management Authority (LAWMA) facilities in Ojota and Ikoyi. A participant, Jennifer Paul who runs an environmental project in Yola, Adamawa state described the programme as “excellent,

insightful and capacity-building”. She says it has spurred an interest in her to expand the scope of her project beyond Yola to other parts of the state. The Leadership Programme for Sustainable Waste Management attracted entrepreneurs and start-ups from 11 states across Nigeria. ACT Foundation is a grant-making o r g a n i s a t i o n established in 2016, as a national and regional n o n – p r o f i t organisation working to address challenges and a s s o c i a t e d vulnerabilities across the African Continent. The foundation is 100% funded by Access Bank Plc with an independent board and has the vision to leverage relationships to create effective social impact solutions across Africa. ACT Foundation has over 1500 non-profits within its network across Africa and also has various strategic collaborations with private, public and social organisations. LBS Sustainability Centre brings together theory and practice on sustainability, builds leadership skills and supports constructive dialogue and collaboration between business, government, civil society and academics to find solutions to critical sustainability challenges

LBS MBAs meet top recruiters at 17th Talent Forum Previously known as the MBA Career Fair, the Talent Forum is a biannual event organized by the Lagos Business School MBA Careers and Placement Office to bridge the gap between fulltime MBA students and companies across industries in the country. Through the Talent Forum, students, meet, interact and establish professional relationships with recruiters from these companies. Keynote Speaker and Country Manager, Google Nigeria, Juliet Ehimuan spoke on the impact of technology on human interactions in sectors like health and agriculture across Africa, and the place of Google in this transformation.

agos Business School full-time MBA 17 and 18 classes had the opportunity of pitching their unique skills and capabilities to top companies at the 17th edition of the annual MBA Talent Forum held on Wednesday, November 6, 2019.

Lagos Business School

Ehimuan said, “We are seeing how technology is transforming lives across Africa through Artificial Intelligence and machine learning, thus making millions of lives better. I believe that Africa's biggest challenges will not be solved with traditional methods of the past but with cutting-edge technologies that are cost-effective”. Introducing the students to recruiters, Lagos Business School Dean, Professor Enase Okonedo said, “We attract the brightest and best minds to our programmes and we seek to

strengthen the attitude and values they already possess. This we do in addition to imparting in them knowledge to be high performing managers in Africa. We remain focused on developing responsible leaders for Africa but beyond leaders who possess high business acumen, this must be individuals who have the right attitude and values who see leadership as a service to community”

opened us up to the possibility of hiring the right talents to fill these roles”.

Following the industry presentations by some of the students, Managing Director, United Capital, Babatunde Okeniyi said, “Nigeria is currently going through the brain drain phase and for us as a business, getting the right candidates to fill certain vacant roles has been challenging. Participating in the LBS MBA Talent Forum and interacting with these bright minds has

Participating companies at this year's event include KPMG, Dow Chemicals West Africa, Nigerian Breweries, Godrej, Bain and Company, BASF Nigeria, Moet and Hennessy, UAC, Ernst & Young, Sahara Group, Coca Cola, among many others.

Other recruiters also expressed satisfaction with the quality of candidates turned out by LBS, their grasp of the critical problems faced in various industries and their ability to proffer practical solutions to these problems.

LBS Beta Gamma Sigma Society inducts new members

he Lagos Business School chapter of the Beta Gamma Sigma (BGS) society on Saturday, November 17, 2019, inducted 22 new members and elected new executives at its third recognition ceremony held at the School.

feat that you have reached where you are now, and it is owing to your dedication and diligence. You have been selected as one of the privileged few to be honoured for academic excellence, and this honour comes with a lot of prestige and opportunities.”

Beta Gamma Sigma is the exclusive business honour society for students enrolled in business and management programmes accredited by the Association to Advance Collegiate Schools of Business (AACSB).

Speaking on the achievements of her tenure, Osula added that in only four months, the LBS BGS Chapter moved from 'High Honours' to 'Highest Honours' out of over 540 collegiate chapters in business schools accredited by AACSB International.

The ceremony witnessed the emergence of Executive MBA 23 student, Adedayo Oyedola as President as she received the baton of leadership of the chapter from outgoing President, Oghogho Osula. Other newly elected student officers include Ibhade Akpede (EMBA 23) and Jane Nwaogu, Chinevu Amadi and Oluwaseun Egbeola, all of the Full-Time MBA 17 class.

Election to lifetime membership in Beta Gamma Sigma is the highest honour a business student anywhere in the world can receive in an undergraduate or master's programme at a school accredited by AACSB International. The LBS BGS chapter was established in November 2017.

In her speech, outgoing President, Oghogho Osula urged the new inductees to take on the responsibility that comes with being a life member of the Society. Osula said, “It is no ordinary Footprints | First issue 2020

Conversationalists at the 2019 International Sustainability Conference

According to him, â&#x20AC;&#x153;Sustainable businesses, especially those that operate at the bottom of the pyramid, will reduce poverty. A business that decides to operate either as a whole or subsidiary will engage poor people, bring them out of poverty and contribute to economic development.â&#x20AC;? The keynote address at the Conference, 'Inclusive Business: Africa's Force for Good' was delivered by Assistant Chief Economist, Development Bank of Nigeria, Professor Joseph Nnanna who went on to have a fireside chat with Professor Chris Ogbechie. Conversations were also held at a panel session with Chief Executive Officer, Grooming Centre, Godwin Nwabunka; Director, Corporate Affairs and Sustainable Business, Unilever Nigeria and Ghana, Soromidayo George; Managing Partner, Banwo and Ighodalo, Ken Etim; and Head, Human Resources and Shared Services, Falcon Corporation, Chidinma Maduka. Moderated by Managing Director, SMEFunds Capital, Jubril Adeojo, the conversations bordered on the need for organisations to innovate so as to meet the needs of the huge consumer base at the bottom of the pyramid, an underserved market that is yet a key segment of the society. Technological innovations were also enunciated as a key factor in laying the

Lagos Business School

groundwork for a more sustainable future and also transforming Africa's economic potential, creating new target markets and unprecedented consumer choice. Following the proceedings at the Conference, it was recommended that the government can play a major supporting role in advancing sustainable growth by increasing sanctions for environmentally-unfriendly policies and review archaic laws that touch on sustainability. The need for strict enforcement of existing sustainability policies was also highlighted. Organisations, on the other hand, were called on to gain the buy-in of executives for long-term sustainability initiatives and to ensure that sustainability thinking is adopted by all staff. Decision-makers were also encouraged to monitor and evaluate sustainability initiatives in order to measure impact and improve implementation for long-term impact.

Ifedolapo Abijo-Peters wins grand prize at MBA Fellowship Contest

BA 17 student, Ifedolapo Abijo-Peters has emerged winner of the grand prize of N100,000 at the MBA Fellowship Contest held at Lagos Business School (LBS) on Monday, November 18, 2019. The MBA Fellowship Contest is an annual event held upon the return of the full-time MBA students from their fellowship placements. Its objective is to establish an attitude of commitment towards the Fellowship by students, reward projects that added value to organisations and encourage more robust fellowship projects from organisations. Six students presented their Fellowship projects before a threeperson panel including LBS faculty members, Uche Attoh and Dr Ogechi Adeola, and Head, Corporate Communications, Interswitch, Tomi Ogunlesi. Each student, through their 15minute presentations, attempted to convince the judges of the key learning points of their Fellowship while also detailing the steps they took in achieving these. Abijo-Peters, who undertook her Fellowship at cosmetic product manufacturing company, Godrej Nigeria, spoke on the technicalities, challenges, and eventual success of her winning project, Salon Channel Revamp. According to the judges, the contestants exceeded expectations with their performances; however, Abijo-Peters stood out, owing to the focus placed on solutions she provided to the challenges the project presented. Attesting to this, MBA Director, Uchenna Uzo who presented certificates to the winners, said Abijo-Peters' doggedness during the Fellowship was noteworthy.

Uzo added, “I am not surprised about Abijo-Peters' win at this contest. Upon her return from the Fellowship, we spoke on the complexities of her project, and a case study is currently being developed on some aspects of the fantastic work she did at Godrej.” Runners-up at the contest, Timilehin Olaiwola and Adetutu Ola-Ibrahim were also presented with certificates and will each be rewarded with a cash prize of N50,000. The 3-month MBA Fellowship, formerly known as MBA Internship, is an integral part of the learning process on the LBS MBA that allows students to gain hands-on industry experience and build capacity.

Innovation recommended as panacea to poverty at 2019 Sustainability Conference

n Wednesday, November 27, the Lagos Business School Sustainability Centre hosted experts, academics and thought leaders across industries at the 2019 edition of its International Sustainability Conference themed, 'Innovating for Inclusive and Sustainable Growth'. The International Sustainability Conference is an annual dialogue-to-action platform to inspire business leaders and corporate executives to embed sustainability and responsible business practices in their strategy and operations to result in positive impacts not only on business performance but on the society as well. In his thought-provoking opening remarks, Director, LBS Sustainability Centre, Professor Chris Ogbechie called the attention of the audience to the core purpose of the event which is to shape the only home we have: earth. He went on to add that organisations are now being held to a new standard that goes beyond profit-making to being responsible, sustainable and good corporate citizens of the world.

Ogbechie said, “I am particularly interested in the big, five sustainability storm clouds in Africa as they are issues that can make or mar our existence as a people. They are energy and climate change, education and youth empowerment, food and water, waste management, and poverty and social justice; however, our focus at this year's conference will be on poverty and social justice”. Closing his speech, Ogbechie called on businesses, civil society, government, and media to ponder on their roles in building an inclusive and sustainable economy and society. Organisations who implement sustainable practices delivered case presentations on various topics as it relates to their operations and how these practices have amounted to the greater good of the society. Representing LAPO Microfinance Bank, Managing Director, Godwin Ehigiamusoe who spoke on the topic 'Funding to reduce Energy Poverty' said the benefits of sustainability outweigh its costs as he detailed how his organisation cut down on the use of paper. Footprints | First issue 2020

Four lessons from the Lagos Business School 2019 HR Forum

he 2019 edition of the Lagos Business School HR Forum held on Tuesday, November 26, 2019 at the Honeywell Auditorium of the School. Themed “Emerging Risks for HR practitioners: New Developments in Law and Practice”, the event was an opportunity for Human Resource professionals, across all levels, to discuss new trends in the HR industry, explore changes in its laws and practice, and recommend innovative ways of executing their functions. With President, Chartered Institute of Personnel Management of Nigeria (CIPM) and HR Director, Flour Mills of Nigeria, Wale Adediran as keynote speaker, attendees at the Forum also got to learn from other in-house experts. Some of these include Lagos Business School faculty members, Professor Olawale Ajai, Dr Bongo Adi, and Pan-Atlantic University's Dr Silk Ogbu. Here are four of the key lessons we picked up from the Forum: 1. In the past, roles were advertised requesting applicants to meet conditions such as age, gender, and ridiculous years of experience. It was normal to see job adverts with

phrases like “applicants must not be older than 27 years old”, “Applicants must not be pregnant”, “Only male applicants required”, etc. However, with the latest developments in HR, rejecting applicants for attributes that are unrelated to the job performance is considered discriminatory and as such, not acceptable. Indefinitely suspending employees has now become a risk for HR practitioners. According to new developments in the practice of HR, suspension, be it administrative or punitive must not be longer than reasonable for the intended purpose; else, it amounts to prolonged suspension and can attract damages in addition to all other employment entitlements. HR practitioners should be aware of social risks that lie in individuals with whom their organisation has strategic relationships. With this awareness then comes the opportunity to position themselves and their organisation to manage these social risks. In achieving this, HR professionals need to identify key stakeholders, analyse them, identify emerging issues, manage stakeholder expectations and most importantly, keep channels of communication open and active. HR practitioners run a high risk of breaching the new Federal Competition and Consumer Protection (FCCPC) Act as a result of indiscriminate and unjustifiable employment bonds and covenant in restraint. Public policy allows for free mobility of labour as well as fair and healthy competition hence bonding and covenant in restraint must be justified and reasonable.

Summarily, HR practitioners are advised to acquaint themselves with the legal aspects of the practice by taking practitioner-oriented training.

Experts canvass for collaboration at 2019 Financial Inclusion Conference

ollaboration, cooperation, and co-creation have been recommended as steps towards developing marketcreating innovations in the financial services ecosystem in Nigeria. This recommendation was made at the 2019 edition of the International Financial Inclusion Conference held at Lagos Business School on Thursday, November 28. Organised by the Sustainable and Inclusive Digital Financial Services (SIDFS), one of LBS' three research centres, the Conference provides a space for ecosystem stakeholders to congregate and share knowledge, as well as discuss latest research frontiers and findings. At this edition, stakeholders at a panel session moderated by Business Law Faculty at LBS, Professor Olawale Ajai, addressed non-consumption of financial services and

Lagos Business School

innovations that can address this situation from the perspective of the industries they play in. CEO, Lotus Financial Services, Toyin Kekere-Ekun said as asset managers, her organisation creates products and services for people who would not participate in the conventional financial space. Some of such services include mutual funds with entry points as low as N5,000 to foster wealth creation for people at the bottom of the pyramid. Kekere-Ekun went on to recommend that a paradigm shift by institutions would be to focus on prosperity and opportunity, rather than alleviating poverty, by getting customers to invest rather than save. Sharing the sentiments on wealth creation, CEO, Ventures Platform, Kola announced that his organisation has, in the last six months, invested in three wealth management startups targeted at the market segment that needs it the most. Aina said he is of the belief that the conversation needs to move from getting people included to helping them get wealthier.

Trade Zone, Tolaram Group, Dinesh Rathi and SIDFS Team Lead, Professor Olayinka David-West, provided a conclusion on the crucial factors to be considered when building a financial product. The factors include availability, affordability and acceptability. The Conference rounded off with the launch of the State of the Market Report 2019 which is the fourth in the series and presents consumer and gender profiles with more contextual relevance and linkages. It contains insights from analysis of disaggregated data on banked, under-banked and unbanked adult Nigerians.

h p://sustainabledfs.lbs.edu.ng/FIResources/SoMR_Full_Report_2019.pdf

Other panelists including Chief Financial Officer, 9Mobile, Phillips Oki; Head of Remittances, OPay, Kunle Olamuyiwa; and Executive Director, Retail Banking, FCMB, Olu Akanmu joined in advocating for institutional support, a progressive approach by regulators and accessibility of financial products to the last mile. Also at the conference, a newly developed tool for accessing and developing interventions for Nigeria's financial inclusion, Geofin was introduced by Tolu Oyekan of Boston Consulting Group. Developed in partnership with LBS, the tool increases precision with financial inclusion interventions by providing locationspecific solutions that will move the needle. Using Nigeria's market-dominating product, Indomie Instant Noodles as case study, a fireside chat between CEO, Lagos Free

LBS Breakfast Club hosts business leaders to its annual Breakfast at Dinnertime The Lagos Business School Breakfast Club, on December 4, 2019, hosted business leaders and top executives to its annual Breakfast at Dinnertime, providing the perfect closing to its monthly meetings for 2019. The LBS Breakfast Club is a knowledge-sharing forum for top business leaders, C-suite executives and members of the diplomatic community to discuss the nation's economy and predicts trends that impact business and strategy. Guest Speaker at the dinner was Managing Director, Chevron Nigeria, Jeffrey Ewing who delivered an insightful presentation on the future of the upstream oil and gas industry in Nigeria. He touched on topics such as the contributions of the oil and gas industry to Nigeria's revenues, challenges that face the industry and attendant solutions, factors that Footprints | First issue 2020

drive low investment in the country and the required policy imperatives to increase investment.

Nigeria, Victor Onyenkpa; Managing Director, AOSOrwell, Femi Omotayo; and the Consular-General of Spain in Nigeria.

He recommended that a well-thought-out holistic reform bill could 'grow the [investment] pie' by a timely conclusion of the ongoing industry reform to guarantee legislative clarity. Ewing also noted that enabling the safety and security of lives will amount to a conducive business environment for companies in the oil and gas industry.

In her speech, LBS Dean, Enase Okonedo drew the attention of the guests to some of the noteworthy achievements of the School in 2019. She highlighted the Financial Times 2019 ranking and the impressive jump made by the Customs Executive Education to emerge among the top 50 in the world, the donation of N500 million by the Gamaliel and Susan Onosode Foundation to the construction of a bespoke research centre and the project's progress, among others.

As expected of a business dinner, the ambience of the night was classy and glamourous but punctuated by conversations that had the potential to influence the business environment in the country. One of such conversations was facilitated by top economist, Bismarck Rewane after he delivered the highly anticipated Economic Outlook for 2020.

She thanked organisations who have opened their doors to LBS for research and case study development purposes and also extended gratitude to individuals and organisations who have donated to one cause or another in the School.

Attendees at the Breakfast at Dinnertime included Chairman, Dubri Oil, Uduimo Itsueli; CEO, Seplat Petroleum, Austin Avuru; Chief Operating Officer and Risk Managing Partner, KPMG

Sponsored by Dubri Oil, the event closed with a presentation of gifts to the guest speakers after which other guests took to the dance floor.

Lagos Business School hosts over 150 delegates at 2020 Africa Academy of Management Conference

n January 8, 2020, Lagos Business School opened its doors over 150 management scholars, academics and other delegates from across the continent who will be participating in the 2020 Africa Academy of Management conference (AFAM). The 5th edition of the biennial conference is themed, 'Globalisation, Pan-Africanism and the African Business Climate' and features multiple paper sessions, symposia and professional development workshops that explore two distinct aspects of the newly emerging African business environment: how external actors invest, relocate, and interact with indigenous African businesses, and how internal African businesses move across national boundaries and explore the Pan-African environment. At the opening ceremony of the conference, Lagos Business School Dean, Professor Enase Okonedo welcomed the delegates to the School and to Lagos iterating the importance of hosting the event in the city considering it is one of the most populous in the world and plays a salient role in the economic growth of Nigeria and Africa. According to her, the conference theme is reflective of what Lagos symbolises.

At the workshop, AFAM President, Dr David Zoogah highlighted the need for incorporating lessons on cultural identity, common heritage values and ethics in business school curricula. Dr Zoogah said, “African scholars have a unique role to play in educating other scholars particularly about their identities, as it is important to answer the pertinent question, 'How can we run business practices from the perspective of African values?'”

The opening ceremony was preceded by a Junior Faculty and Doctoral Students Consortium that explored topics such as the Challenges of Ethical Research, High Impact Research in Africa, Knowledge Sharing and Scholarship in Africa among many others that are geared towards developing and maintaining high-performance scholarship in Africa.

The closing ceremonies were held at the Oriental Hotel, Victoria Island, on Saturday, January 11, 2020. The event featured paper sessions, professional development workshops, an all academy meeting and concluded with an exciting dinner ceremony.

As part of the opening day activities, a workshop organised by the Global Business Schools Network (GBSN) in partnership with the LBS Sustainability Centre and AFAM also brought together management and research scholars to discuss sustainable development in Africa and the role of business schools in this.

In her Welcome address, Professor Okonedo admonished researchers and scholars to ensure that the outcome of research efforts that have been established at the Conference is felt across Africa. She said, “For all of us who have been part of the Conference, it is in our collective interest and that of the world to bring about the transformation of Africa that we so desire. If countries in Africa fail, the world fails, so we need to act”.

Lagos Business School

Furthering the conversation on transforming the continent, Keynote Speaker, Chairman, KPMG Africa, Kunle Elebute spoke on the AfCFTA and its potential impact on sustainable development in Africa. Elebute said the AfCFTA will present a real opportunity for knowledge sharing and technology transfer among countries in Africa, will improve collaboration, will allow investors to commit to more long term funds and will generally improve business (including manufacturing) in the region. According to Elebute, â&#x20AC;&#x153;The AfCTA will benefit the countries that are 'prepared' for the opportunities it provides, although there are yet a number of questions that need to be answered before full implementation can happen. However, African countries will need to, among other things, invest in agile and responsive member, Professor Chris Ogbechie reiterated the School's institutional capacities to stay ahead of disruptive changes commitment to advancing the practice of management in Africa and continued openness to host gatherings such as attendant with the potential impacts of regional integration.â&#x20AC;? AFAM. Best Paper Awards were presented to researchers who submitted exceptional academic papers in each of the named This is the first time the AFAM Conference will hold in Nigeria. tracks that were explored at the Conference. LBS Faculty, Dr The biennial event has held successfully in Gaborone and Okechukwu Amah, who specialises in Organisational Behaviour Nairobi in 2014 and 2016, respectively, and in Addis Ababa, and Human Resource Management, won the Best Paper Award Ethiopia, in 2018. in his track. The 2020 Africa Academy of Management Conference is Thanking all delegates, guests and partners, Chairman of the supported by Zenith Bank, African Export-Import Bank, and local organising committee and LBS Management Board Stanbic IBTC Bank. Media partner is Proshare Nigeria.

Lagos Business School alumni shortlisted for 2020 AMBA Excellence Awards

wo outstanding alumni of Lagos Business School's Executive MBA programme, Goke Egunjobi and Comfort Alli recently emerged finalists in the MBA Entrepreneurial Venture Award category of the 2020 AMBA Excellence Awards in London, United Kingdom.

Held on February 7, 2020, the Association of MBAs (AMBA) Excellence Awards celebrated the quality and achievements of business education at the forefront of leadership excellence, recognising the talents and contributions made by AMBA-accredited and Business Graduate Association (BGA) Business Schools, their students and graduates.

Comfort Alli

Egunjobi (EMBA 22) is the Founder and CEO of Paper Craft-I-impact product Services, a thermal paper rolls manufacturing plant and digital payment solutions company in Lagos with a turnover of about $250,000. Meanwhile, Alli (EMBA 21) is the Project Director of Street Child Care and Welfare Initiative (SCCWI), a not-for-profit organisation that caters for the welfare of street children in Nigeria, and with affiliations in France, Belgium, and Canada. Lagos Business School was also shortlisted in the Business School Careers Strategy Award category alongside Hult International Business School, United States; ESADE Business School, Spain and Lancaster University Management School, United Kingdom. The Careers Strategy Award recognises institutions that share the AMBA and BGA passion for proactive and innovative approaches to graduate recruitment, talent management and succession planning.

Goke Egunjobi

Lagos Business School is accredited by the AMBA and its graduates have been considered for several categories of the AMBA Excellence Awards. In 2018, Glory Eyinnaya (EMBA 21) and Aidenehi Okosun (MBA 14) were finalists for the AMBA Student of the Year and the Entrepreneurial Venture of the year respectively. Footprints | First issue 2020

Lagos Business School welcomes its first Modular MBA class

he Modular MBA, which is the fourth addition to the School's range of MBA programmes, attracted hundreds of applications from professionals across the country. On Monday, January 10, the School welcomed 39 students who had successfully passed through the competitive admission process. Although the programme will be delivered mostly online, there are occasional classroom and activity-based learning sessions that will help the students to bond. In the first of such physical sessions, we spoke to some of the students on why they chose Lagos Business School and their intentions for the programme.

Paschal Odinde, Materials and Corrosion Engineer, Shell Petroleum Development Company Why LBS: 'When you combine a culture of discipline with an ethic of entrepreneurship, you get the magical alchemy of great performance.” This quote from 10 Must Reads on Leadership is the reality of several LBS Alumni that I have had the opportunity to meet with prior my choosing the school. It captures the strategy that enables LBS build a crop of great performers in the business world and beyond. Also, I discovered that LBS is the first business school in West, East and Central Africa regions to be accredited by The Association of MBAs (AMBA). This puts LBS amongst the exclusive group of only 2% of business schools in 70 countries to have achieved this feat. Lastly, learning at LBS is based on a Christian conception of the dignity of man, of society and economic activity; this concept resonates with my orientation. On what he intends to achieve after the MMBA: Three things come to mind when I think of my projected achievement, all centred on the word, “BUILD.” At the end of the programme, I expect to build strong business management capabilities and skills. I also hope to build a social enterprise that is committed to addressing a fair share of key issues surrounding SDG 9 (Infrastructure, Innovation and Industrialization); this will be achieved through strategic partnership with like-minded individuals and corporations. Finally, I want to build, explore, maximise and connect to the massive network platform LBS offers while adding value to the larger community. Uchenna Onyenakasa, Specialist, Financial Crime Compliance Controls, Standard Chartered Bank Why LBS: I didn't just want a certificate, I wanted impactful knowledge. I want to improve myself to a sophisticated level of human, business, leadership and managerial development/skills. I didn't want a theoretical or 'book' knowledge, I wanted something real, experiential and practicable. I did not want the knowledge that will work only in the Americas, Europe and, some Asian countries, but a knowledge that will also work in Nigeria and Africa with our peculiarities and challenges. I also wanted an environment and culture conducive enough for learning and complete human development. After careful research and visits to schools that lay claim to such education, LBS is the only place that offers these and more, hence my choice of it. On what he intends to achieve after the MMBA: By the end of this programme, I would have gotten better human formation, improved my communication skills (especially business communication), become a strategic thinker, a leader with business skills. I also hope to become a better manager of my time, work, finance, and develop a network of credible, knowledgeable and confident colleagues with whom we can change our communities for better.

Lagos Business School

Yale President, Peter Salovey discusses Emotional Intelligence at Lagos Business School

alovey's trip to Nigeria is in line with his commitment to developing greater partnership with centres of research and academic excellence through the Yale Africa Initiative, a long-term university-wide commitment to enhance Yale's ongoing bilateral engagement with African institutions and to bring African scholarship, research, and education at Yale into sharper focus. Receiving Salovey, LBS Dean, Enase Okonedo highlighted the importance of the relationship between both schools with an emphasis on the alignment of their missions. “We are pleased to have Peter Salovey on our campus for the first time, as part of his visit to Africa. We are proud of the relationship with the Yale School of Management and consider the Global Network as one of our most valuable networks.” In his presentation, Salovey highlighted the four skills of Emotional Intelligence as “the ability to perceive emotions in oneself and other people, the ability to use one's emotions as data for decision making and creativity, the ability to understand emotions, and the ability to manage one's emotions and those of others”. In an interesting revelation, Salovey disclosed that an academic paper he wrote on Emotional Intelligence was what informed the title of the widely read 1995 book by Daniel Goleman, Emotional Intelligence: Why It Can Matter More Than IQ, thus making him a pioneering researcher on the concept.

openness to a long relationship with LBS to improve education, research and scholarships that will advance the community and the world through the Yale Africa Initiative. Salovey's visit is well-timed in the light of Lagos Business School's membership in Global Network for Advanced Management (GNAM), a collaboration of 30 graduate schools of business that seeks to foster intellectual ties among business schools, students and deans. As part of his visit, Salovey met with the team of LBS' Full-Time MBA 17 students who are currently participating in the Global Network Investment Competition, hosted by the Yale School of Management (Yale SOM). The competition is an annual contest that enhances the study of equity investments, and this year, it is comprised of 24 student teams from top business schools across the globe who are members of the GNAM. Also on account of its membership in GNAM, LBS hosts the annual Global Network Week, where it exposes participants from international business schools and their LBS counterparts to the current strategies and trends that drive selling in consumer markets within Africa's largest economy. In a similar vein, two of LBS' faculty members, Professor Olawale Ajai and Dr Henrietta Onwuegbuzie, in 2019, became the first Africans to be awarded the Global Network Africa Faculty Fellowship Programme at Yale School of Management, New Haven.

Closing his presentation, the Yale President touched on the willingness of young Nigerians to use their skills and talents in moving the country forward. He then went on to declare

Footprints | First issue 2020

Full-time MBA 18 participants commence Mentorship programme

n Tuesday, February 4, students of the Lagos Business School Full-time MBA 18 class participated in a one-onone session that allowed them to engage members of the Alumni community. The objective of the session was to officially kick-off the mentoring programme for the MBA 18 class and to get the mentees to meet, interact with, and learn from their mentors.

Chams Plc; Ubohmhe Olowojaiye, Head, Risk and Compliance, Aiteo E&P; Olanrewaju Elegunde, CEO, Oracle Experience; Telenyem Ikuru, Chairman, Stym Engineering, among others. With mentors chosen from a wide range of industries, the mentees have the opportunity to widen their areas of interest and build a network of professional acquaintances.

The mentoring programme aims to support the career and business development of the MBA students, through guidance by experienced professionals and entrepreneurs from the LBS Alumni pool. It provides an avenue to gain valuable insights from members of the successful Alumni community. Welcoming the mentors and their mentees to the session, MBA Director, Uchenna Uzo told the students to make the best use of their interactions with the mentors as it offers them short- and long-term benefits. He also thanked the mentors for contributing their individual and collective quota to improving the professional capacity of the students. Some of the Alumni members at the session include Nnamdi Ezeigbo, CEO, SLOT; Olufunke Alomooluwa; Executive Director,

Lagos Business School introduces Executive Coaching for participants agos Business School (LBS) has introduced Executive Coaching for participants on its Executive Education, Executive MBA, and Modular Executive MBA programmes.

business problems that currently face Nigeria and Africa. We also aim to prepare these business leaders to effectively deal with future challenges that may arise in their workplaces and industries”.

The Executive Coaching resource is an inquiry-based approach to personal and professional development that is aimed at creating awareness, generating action, and facilitating learning and growth. Through o n e - o n - o n e interactions with coaches, participants will improve their performances at work by developing and sustaining new perspectives, attitudes, skills and behaviours.

Some of the executive coaches who will be participating in this service include: CEO, OLCA, Lanre Olusola; CEO and Lead Coach, Alex & Jefferson Consulting, Abiola Orojo; Lead C o n s u l t a n t , Swissfocal, Sunny E n e b i ; C E O , Coachivate, Folake Adeniyi-Adeleye, among many others.

MBA Director, Uchenna Uzo spoke on behalf of the LBS Management Board, following the finalisation of the decision to kickstart the service. He said, “We have introduced Executive Coaching to improve the overall leadership and management effectiveness of our executive participants and we will be engaging coaches certified by the International Coach Federation (ICF) to achieve this”. Uzo added, “We remain committed to our mission of developing responsible leaders who will solve the social and institutional

Lagos Business School

Recall that in April 2019, LBS launched the Executive-inResidence Scheme, a volunteer programme that seeks to provide an opportunity for executives of leading Nigerian corporations and multinationals to share their vast knowledge and experience with participants on LBS C-suite executive programmes. The coaching programme is in addition to the Executive-inResidence Scheme, a volunteer programme that seeks to provide an opportunity for executives of leading Nigerian corporations and multinationals to share their vast knowledge and experience with participants on LBS C-suite executive programmes.

Faculty Update

Aderayo Bankole and Toluwalope Omoyeni

LBS Dean, Enase Okonedo receives Accelerator Award Lagos Business School Dean, Professor Enase Okonedo has been named a recipient of the Junior Achievement Nigeria Accelerator Award for her outstanding contributions to the non-profit organisation. The Junior Achievement Nigeria is part of the world's largest network of organisations dedicated to empowering students on financial literacy, work readiness and entrepreneurship through experiential, hands-on programmes. Presented at JAN's 20th-anniversary event held in Lagos, the Accelerator Award seeks to recognise individuals who through their organisations, have been actively and positively involved in the affairs of the NGO and has supported in the achievement of its goals. Lagos Business School has partnered with JAN since 2001 to host its annual Venture in Management Program (ViMP). Through the ViMP, both organisations prepare youth corps members for the business world as managers and entrepreneurs by exposing them to the responsibilities,

opportunities and demands of a career in management. Typically described as a 'mini-MBA', the ViMP engages participants in classroom sessions, case study discussions, study groups and panel sessions led by members of the LBS faculty. Describing the partnership with LBS as “constantly evolving and symbiotic”, Executive Director, JAN, Simi Nwogugu said, “The ViMP is purposed to get the students to have a feel of a business school and to learn like managers and executives. LBS provides the environment needed to achieve our goal.” Other recipients of the JAN Accelerator Award include CEO, FATE Foundation, Adenike Adeyemi; Managing Director, The Education Partnership Centre, Modupe Adefeso-Olateju; CEO, Bestman Games, Nimi Akinkugbe CEO, ACT Foundation, Osayi Alile, among others. LBS is in partnership with organisations, multinationals, and institutions whose objectives align with its mission of changing the face of business locally and globally, by developing business professionals with high standards of business ethics and professionalism.

LBS Faculty, Chris Ogbechie joins the Research Area of the Financial Centre for Sustainability among stakeholders in the Nigerian financial markets.

Strategy Faculty and Director, LBS Sustainability Centre, Professor Chris Ogbechie has joined the Research, Education and Engagements (REE) Thematic Area of the Financial Centre for Sustainability, Lagos, a platform that aims to accelerate the expansion of green/sustainable finance in Nigeria.

Speaking on the achievement, Professor Ogbechie said, “It is deeply important for us at Lagos Business School that we provide support to initiatives such as the Financial Centre for Sustainability especially in the area of research. Through our Sustainability Centre, we proffer solutions to critical sustainable business challenges and this provides us yet another platform to do this”.

Launched in 2019 by the FMDQ Securities Exchange, the mission of the Financial Centre for Sustainability (FC4S Lagos) is to position Nigeria as a leading market in sustainability principles through investments, innovation, partnerships and capacity development.

Other members of the Thematic Area are Tolu Aina, KPMG Nigeria; Bankole Oloruntoba, Nigeria Climate Innovation Centre; Tunde Balogun, SustyVibes; among others. The team is led by Dr Andrew Nevin of PricewaterhouseCoopers (PWC) and member, LBS Advisory Board.

The admission of LBS' representative into the REE Thematic Area of the FC4S Lagos would support in providing insights and thought leadership on local sustainability issues, enhance key research and data building capabilities critical to resolving complex climate change related challenges. It will also provide an opportunity for knowledge-sharing and building capacity

LBS Sustainability Centre supports business and organisations in mainstreaming, integrating and assessing their sustainability strategies and initiatives, based on cutting-edge sustainability thinking and Centre-led research findings.

Lagos Business School

LBS Faculty,

HENRY

ONUKWUBA'S article makes BizEd's Top 10 Most Read list

An article, 'Teaching Students to be Authentic Leaders in a Volatile World' written by Lagos Business School faculty, Henry Onukwuba has earned a place on BizEd's 10 Most Read articles list in 2019.

izEd is the bi-monthly magazine published by the Association to Advance Collegiate Schools of Business (AACSB) – the world's leading membership association for educational institutions with business programmes and organisations devoted to advancing business education. AACSB is the premier accrediting body for collegiate business and accounting programs worldwide. Onukwuba who teaches Human Resource Management and Organisational Behaviour at LBS was one of four educators who were invited by the magazine to contribute to discourse around how business school graduates can lead in turbulent times. While the other contributors approached the conversation from the perspective of the countries where they practice – Venezuela, New Zealand, and the United States, Onukwuba explored the volatility of the Nigerian business environment using LBS as a case study. Citing Chika Babafemi, an alumnus of the LBS Owner-Manager Programme (OMP) and founder of a Public Relations and Event Management firm in Lagos, Onukwuba highlights the common challenges faced by business leaders in the Nigerian clime. He

states that “Doing business in Nigeria is not a tea party. The country is ranked 146th out of the 190 nations included in the World Bank's list for Ease of Doing Business. Ethical standards are low, and CEOs often are induced to give bribes to get work or stay in business.” According to Onukwuba, LBS solves these problems using practical approaches including instilling values, exploring generational differences and emphasising emotional intelligence. He also added that owing to the difficulty typical Nigerian CEOs experience in embracing these concepts, LBS brings them alive in its classroom using case studies, strategy simulation games, visits from chief executives, and other practical exercises. Through these and other approaches, Onukwuba says LBS graduates have become “advocates of ethical and balanced leadership”. Other articles which made the Most Read list include The Real Value of Business Schools by Glenn Hubbard, Dean, Columbia Business School and Responding to the Times by John A. Elliott, Board Chair, AACSB. The article was originally published in BizEd's March/April 2019 issue.

Onukwuba says LBS graduates have become “advocates of ethical and balanced leadership” Footprints | First issue 2020

Lagos Business School Dean,

Professor Enase Okonedo delivers inaugural lecture

The Dean of Lagos Business School, Professor Enase Okonedo, on Friday, January 24, delivered her inaugural lecture at the Honeywell Auditorium of the Pan-Atlantic University. The lecture titled 'Complexities of Decision-making in a Volatile Environment' comes months after her appointment as a Professor of Management by the Pan-Atlantic University (PAU) and marks the 10th inaugural lecture of the University.

resenting Okonedo to the audience, Vice-Chancellor of the PAU, Professor Juan Elegido summarised her 23-year journey from her role as a Research Assistant to former part-time faculty, Dr Christopher Kolade CON, to taking the highest academic and administrative position in the School. Elegido thanked Okonedo for her “immeasurable contribution to the progress of the PAU and LBS”. In her lecture, Okonedo began by buttressing on Elegido's introductory speech with a meticulous account of her journey in academia. She spoke on her decision to quit the banking industry and join LBS, her appointment as a faculty in the finance department, the encouragement she received from senior colleagues to venture into research, up until her appointment as Dean in July 2009. On the practice of decision-making in Africa, she shared a summary of findings from research that led to the publication of her book chapter “Decision-making Practices in Africa”. The study sought to understand the possible influence of cultural beliefs, limited information, faith, ethics and other institutional factors on decisions made by business executives in the different sub-regions of Africa – East, West, Northern and Southern.

These skills are critical for effective decision-making within organisations. Superior decision-making skills expectedly will lead to better outcomes and advance not only the interests of the organisations, but the nation and the continent”.

“Decision-making in a VUCA environment can be extremely daunting, but executives can navigate through the volatility, uncertainty, complexity and ambiguity by becoming aware of According to her, “a clear understanding of the nuances certain considerations”, she added. associated with making decisions in Africa will create an opportunity for business executives to make effective decisions She concluded by adding that “managers and executives who in the context within which they operate”. This led her to embark understand the environment anticipate events through on writing a book “The Art of Decision-making: A Guide to proactive thinking, perceive the challenges as an opportunity to Executive Decision-making in Africa” scheduled for release this grow, develop business models which are adaptive to the year. environment, and manage the chain of operations flexibly and nimbly will improve the effectiveness of their decisions”. On the impact of management education in Africa on decisionmaking, Okonedo said, “Increasingly, there is a perception that Okonedo thanked the members of the audience, and graduate management programmes in African institutions do colleagues at LBS, then expressed special gratitude to three not meet the needs of the continent. The curriculum offered in individuals – Dr Christopher Kolade CON, Professor Juan several higher institutions does not reveal global trends in Elegido and Professor Fabian Ajogwu SAN – who have management education. Also, the pedagogy as well as mentored and guided her through her endeavours. programme structure may not promote the development of skills such as critical thinking, analytical ability, problem solving, Guests at the lecture were treated to a cocktail at the LBS foyer. and adaptability especially required in the African context where the practice of formal management is still in the developing stage.

Lagos Business School

Lagos Business School Faculty,

Professor Olayinka David-West delivers inaugural lecture Lagos Business School Academic Director and Faculty of Information Systems, Professor Olayinka David-West delivered her inaugural lecture at the Honeywell Auditorium of Pan-Atlantic University on Wednesday, February 19, 2020. Titled 'If I Build it, Will They Come?', the 11th inaugural lecture of the University is in recognition of David-West's appointment as a Professor of Information Systems in May 2019.

ice-Chancellor of the PAU, Professor Juan Elegido introduced David-West to the audience by acknowledging her immense contributions to the University since she joined in June 2003. He also reeled out her achievements, some of which include her recognition in TechCabal's TechWomenLagos, a series that profiled 50 women in Lagos' technology ecosystem. The lecture began with David-West reminiscing on her journey into Information Technology which started 30 years ago at TARA Systems Limited, her interest in research and development, and her sojourn into academia. She went on to answer the thematic question, 'If I Build it, Will They Come?' by deconstructing it with explanatory insights from the human, technology and benefits perspectives. The human perspective included the producer (software developer,

engineer, investor, maintenance service provider) and the buyer (individual, owner-manager, Chief Information Officer/IT Manager). The technology perspective encapsulates the products that are being built and the processes involved in building and maintaining them. Concluding this section of the lecture, David-West opined that beyond adoption, technology deployment should deliver impact to the business and society. She explained this through the financial inclusion lens stating that providing digital financial services to the under-served is not just about economic performance for the provider, but also about addressing economic development gaps and risks arising from lack of access to formal financial services. On her current research interest, David-West touched on the financial inclusion project that is at the core of the activities at the Sustainable and Inclusive Digital Financial Services (SIDFS) Initiative where she performs a pivotal role. Acknowledging the receipt of additional funding from the Bill and Melinda Gates Foundation in 2019, she announced that the Initiative is building a DFS Observatory to mobilise private sector intervention entities and advocate for policies that enhance the DFS adoption by the unbanked poor. David-West concluded the lecture by advocating for policies that â&#x20AC;&#x153;create, promote and support sustainable national digital transformationâ&#x20AC;?. She expressed gratitude to members of the audience, Professors Albert Alos, Juan Elegido and Enase Okonedo, and managers who have, over her 17 years at LBS, allowed her to test her theories and ideas. The event closed with a cocktail session that allowed guests to network.

Footprints | First issue 2020

Enase Okonedo appointed to Global Business School Network Board of Directors The Global Business School Network (GBSN) announces the appointment of Professor Enase Okonedo to the Board of Directors effective January 1, 2020.

BSN is a nonprofit organization that partners with business schools, industry, to improve access to quality, locally relevant management and entrepreneurship education for the developing world. Through the power of a network of over 100 leading business schools on 6 continents, GBSN fosters connections, facilitates knowledge sharing, and catalyzes investment in management education as a tool for economic and social development. Prof. Enase Okonedo has served as the Dean of LBS since 2009. Recently, she has been appointed to become a Professor of Management, making her the eighth faculty member to achieve professorship status at LBS. She is responsible for setting strategic direction for the school, as well as overseeing all academic and administrative matters. Under her leadership, Lagos Business School maintains its international reputation for being a leading provider of management and business education across the globe. Lagos Business School (LBS) joined the GBSN network in 2007. For the past 13 years the institution has exhibited remarkable leadership within the network and has become a vital member school. “I am pleased to welcome Enase Okonedo to the Board,” said Soumitra Dutta, Chairman of the GBSN Board of Directors. “With the support of global leaders, like Enase, we will continue to advance the mission of GBSN and increase collaboration across schools in both emerging and developed markets.”

“With the support of global leaders, like Enase, we will continue to advance the mission of GBSN and increase collaboration across schools in both emerging and developed markets” Soumitra Dutta Chairman of the GBSN Board of Directors

Between 2012 and 2013 Prof. Okonedo served as the chairperson of the Association of African Business Schools (AABS). She then served as a board member until 2016. Simultaneously in 2015, Prof. Okonedo was elected to the AACSB International Board of Directors and in 2018 was appointed Secretary-Treasurer of the Board. Presently, she serves as a member of the Panel of Advisors, Africa Initiative for Governance and the Academic Advisory Board, Blavatnik School of Government, University of Oxford. She is also the President of the AIFA Reading Society, Nigeria and serves on the board of several indigenous and international companies. She was listed by a leading Nigerian daily as one of the 50 most influential Nigerians in 2017. “Enase Okonedo is a pioneer in management education and the development space, and has shown unwavering commitment to the GBSN mission over the last decade,” said Dan LeClair, CEO of GBSN. “We are honored to have her on our Board of Directors and look forward to paving new paths together to expand our impact across the African continent and the world.” In addition to numerous leadership positions, Prof. Okonedo employs more than 30 years' experience in the financial services and management education sectors to speak to global audiences about issues in management education in emerging markets. She also utilizes her skills to develop and teach courses in problem-solving and decision making, corporate financial management and financial strategy at LBS. Prof. Okonedo has a bachelor's degree in accounting from the University of Benin, Nigeria; an MBA from IESE Business School, Barcelona and a Doctorate in Business Administration from International School of Management (ISM), Paris. She is a Fellow of the Institute of Chartered Accountants of Nigeria (FCA). In November, 2015 she was conferred as a Fellow of the Society of Corporate Governance Nigeria (SCGN) in recognition of her exemplary leadership and contributions to good governance in the Nigerian Education sector. She was appointed a Professor of Management by the Pan Atlantic University Governing Council in 2019

Footprints | First issue 2020

Cover Story

THE RISE OF

SYCAMORE.NG Uzo Ofoma Chukwuma

The sycamore tree was a very popular and valuable specie of fig trees in ancient times. Almost all parts of the tree, from the leaves to the camouflage-pattern bark, were used for food, medicine and in the making of furniture and musical instruments. The enormous size of its roots, providing the right foundation for its large trunk, branches and leaves acts as a windbreaker and provides great shade. It is alleged to be the tree that provided shade to the retreating American troops, including the young French General Marquise de Lafayette, in the Battle of the Brandywine against British forces. Most notably, it earned most of its reputation as the tree that Zaccheaus, the tax collector, climbed to get a better view of Jesus as he passed on his way into Jericho, becoming a symbol of the discovery of hope, restoration and renewal.

Lagos Business School

During a Marketing Case Study, Full-time MBA students, Babatunde Akin-Moses, Onyinye Okonji and Mayowa Adeosun made a startling discovery of their own: SMEs in Nigeria receive only 0.1% of the financing that is available. The trio, who never knew each other before the programme, decided to do something about it. â&#x20AC;&#x153;We

wanted to create a platform to bridge the gap between lenders and borrowersâ&#x20AC;?, Babatunde explains. Like the tree that provided the platform for Zaccheaus to be discovered, Sycamore.NG offers the much needed platform for the exchange of funds between banks and SMEs. Small and Medium Enterprises (SMEs) have been long seen as key vehicles in promoting employment and economic growth in developing economies. According to the World Bank, they represent 90% of businesses and 50% of employment worldwide. Formal SMEs can contribute up to 40% of the Gross Domestic Product (GDP) in emerging economies. However, the promise of exponential growth and stability for SMEs is stunted by the lack of access to financing. This is especially true in Nigeria where an estimated 40 million Micro, Small and Medium Enterprises (MSMEs) only contribute 1% to Nigeria's GDP. This is largely due to access to financing, without which they cannot scale up their capacity and provide the anticipated result of national growth.

After their MBA programme, the young cofounders immediately began to set in motion what would become a thriving Peer to Peer (P2P) lending platform. Firstly, they had a mutual objective to make impact on the society by focusing on three of the United Nations Sustainable Development Goals (SDGs): eliminate poverty, create job opportunities to enhance economic growth and reduce inequalities. Their purpose is to financially empower individuals and businesses in developing economies to achieve their dreams. Secondly, they all have backgrounds & experiences in the financial industry. Babatunde, who is the Managing Director, spent more than ten years garnering experience in consulting and finance. Armed with a first-class degree in Economics from Bowen University and qualification as a chartered accountant, he has worked at Shell, KPMG, PwC and Pezesha, a P2P lending Fintech in Kenya. Onyinye has a degree in Psychology from Covenant Universiy and a decade of experience working for major financial institutions such as RenMoney and Page Financials. She is the Chief Marketing Officer responsible for building brand loyalty and creating memorable customer experiences. Mayowa is currently the Chief Operating Officer. The quiet, unassuming COO has worked for the Central Bank of Nigeria, Stanbic IBTC, Leadway Assurance and Accenture. Mayowa obtained his first degree in Business Administration from the notable Moorehouse College after spending most of his childhood in the United Kingdom. The Cofounders also share deep values in integrity, respect and excellence.

Source: Bank of Industry Footprints | First issue 2020

During a Marketing Case Study, Full-time MBA students, Babatunde AkinMoses, Onyinye Okonji and Mayowa Adeosun made a startling discovery of their own: SMEs in Nigeria receive only 0.1% of the financing that is available. Thirdly, based on their mutual affinity to technology, they created a model that is purely digital and highly efficient. When asked what makes Sycamore unique, Babatunde stated that their turnaround for loan disbursement is 24 hours, a mighty feat in the industry. Onyinye added that they also have a unique method for determining credible borrowers. Using psychometric analysis and alternative data such as social media profiles, the team is able to match lenders to qualified buyers in a shorter time than the industry average. They also have better methods of collateral management which is more efficient for both borrower and lender. Mayowa ensures they provide customised products that individuals and businesses need and all applications are completed via the website, making their services easily accessible. The only time people have to come into the office is when they need a bigger amount of money that requires collateral. Everything else is online. Once an application is approved, the borrower gets credited within 24 hoursâ&#x20AC;?, adds Babatunde.

Funding for the venture came from all cofounders including two of their former MBA classmates and other investors. Using their unique approach to funding, the co-founders reached their breakeven within months of their operations, churning in profit by the 9th month. With more than 1,400 customers to date, they have disbursed loans in the last year in 9figures. Looking to the future, the Co-founders want to venture even deeper in the financial inclusion space by taking credit to the very bottom of the pyramid, to the digitally and financially invisible people. When asked about the impact of COVID-19 pandemic on their business, Onyinye quickly responded that they did not feel much of an impact as their business had always been 90% digital from the beginning. However, they are now focused on providing funds to businesses in food, healthcare & retail. In the race for relevance and profit in the entrepreneurship world, the rise of Sycamore from a new player to a thriving and rapidly growing financial services company is certainly fascinating to study. The story is one of a beautiful partnership

Lagos Business School

between three people with shared values and goals. Like the Sycamore tree, their foundation is solidly built on mutual purpose and respect as they grow and branch out into several sturdy strategies, upon which SMEs can reach up to receive the funds they need to scale up and thrive. With more people entering into the entrepreneurship space, the future is bright as more SMEs need more capital to scale up. We can only see Sycamore.NG continue to rise and rise.

Research News

Journal Article publications (November 2019 â&#x20AC;&#x201C; April 2020) Subject Category

Economics and Finance

Marketing

S/No.

Title

Journal Title

Faculty

Government assisted programs and unemployment reduction in developing economies Case study of Nigeria and Ghana

International Journal of Management, Economics and Social Sciences

Edwin Agwu

Corporate Financial Performance In Nigeria: The Effect of Oil Price and Exchange Rate Fluctuations

International Journal of Economics and Financial Issues (IJEFI)

Kayode Omoregie

Foreign Exchange and the Capital Market Dynamics: New Evidence from Non-linear Autoregressive Distributed Lag Model

International Journal of Management, Economics and Social Sciences

Kayode Omoregie

Is current institutional quality linked to legal origins and disease endowments? Evidence from Africa

International Journal of Entrepreneurship and Small Business

Chukwunonye Emenalo

Corporate tax responsibility in Africa: Insight from Nigeria

Africa Journal of Management

Bongo Adi

A Vector Auto regression Analysis of the Efficacy of External Reserves Management on Exchange Rate Stability: Evidence from Nigeria

Journal of Economics, Management and Trade

Ikechukwu Kelikume

The Impact of Changes in Oil Price on Stock Market: Evidence from Africa

International Journal of Management, Economics and Social Sciences

Ikechukwu Kelikume

Causal Linkage amongst Public Expenditure on Health, Health Status and Growth: New Empirical Evidence from Toda-Yamamoto Approach for Nigeria

Journal of ScientiďŹ c Research & Reports

Ikechukwu Kelikume

Effects of international marketing environments on entrepreneurship development

International Journal of Entrepreneurship

Edwin Agwu & Henrietta Onwuegbuzie

Determinants of HighPerformance Organizations in Africa: A Conceptual Framework and Research Propositions

International Journal of Okechukwu Amah Management, Economics and Social Sciences

Managing the negative effects of work-to-family and family-towork conflicts on family satisfaction of working mothers' in Nigeria: the role of extended family support

Community, Work and Okechukwu Amah Family

Effect of Recruitment and Selection on Employee Retention: Mediating Factor of Employee Engagement

E u r o p e a n J o u r n a l o f Edwin Agwu Applied Business Management

Human Resource

Lagos Business School

Subject Category

Strategy

Title

Journal Title

Managing Millennials in the African Workplace: What the Millennials Need

Journal of Organizational Henry Onukwuba Psychology

Beyond Legislations: Ethical Issues in Domestic Work in Nigeria

PEOPLE: International Rose Ogbechie Journal of Social Sciences

Impact of Stakeholders' analysis on organizational performance – A case study of selected Nigerian financial organizations

International Journal of Edwin Agwu Strategic Decision Sciences

The moderating role of demographic variables on customer expectations in airport retail patronage intentions of travellers

Journal of Retailing and Ogechi Adeola Consumer Services

International Students as Tourists: Exploring Impressions of Ghana's Destination Image

E u r o p e a n J o u r n a l o f Ogechi Adeola International Management

Tourism & Hospitality

Faculty

Book Chapters Subject Category

Branding & Marketing

Title

Editor(s), Book title and Publisher

Application of Digital Technologies and Social Media to enhance Customer Service Experience – Ogechi Adeola

In R.E Hinson, O. Adeola, T.R. Lituchy & A. F.O. Amartey (Eds.), Customer Service Management in Africa: A Strategic and Operational Perspective. Routledge.

Cultural Influence on Customer Service Delivery - Ogechi Adeola

In R.E Hinson, O. Adeola, T.R. Lituchy & A. F.O. Amartey (Eds.), Customer Service Management in Africa: A Strategic and Operational Perspective. Routledge.

Offline Branding in the Digital Age Ogechi Adeola & Edwin Agwu

In P. Foroudi and Maria Palazzo (Eds.), Contemporary Issues in Branding. Routledge.

Juxtaposing supply and demandside drivers and barriers of technology adoption in the Base of the Pyramid Markets in Uganda- b

In J. Muthuri, M. G. Arnold, S. Gold, X. R. Fajardo (Eds.), Base of the Pyramid Markets in Africa: Innovation and Challenges to Sustainability. Routledge.

Factors Influencing Information Security Policy Compliance Behaviour- Kayode Omoregie

In W. Yaokumah, M. Rajarajan, J-D. Abdulai, I. Wiafe, F A. Katsriku (Eds.), Modern Theories and Practices for Cyber Ethics and Securities Compliance. IGI Global.

The Informal Economy: CSR and Sustainable Development- Ogechi Adeola

In O. Osuji, F. N. Ngwu & D. Jamali (Eds.), CSR in Developing and Emerging Markets – Institutions, Actors and Sustainable Development. Cambridge University Press.

Social Intrapreneurs - Rebels for Good- Eugene Ohu

Economics & Finance

Sustainability

In J. Marques and S. Dhiman (Eds.), Social Entrepreneurship and Corporate Social Responsibility. Springer.

Footprints | First issue 2020

Subject Category

Title

Editor(s), Book title and Publisher

Employee Loyalty- Kemi Ogunyemi

In D. C. Poff and A. C. Michalos (Eds.), Encyclopedia of Business and Professional Ethics. Springer.

Responsible Managers for the Common Good: African (Igbo and Yoruba) Perspectives on Responsible Management- Kemi Ogunyemi

In O. Laasch, R. Suddaby, R.E. Freeman and D. Jamali (Eds.), Research Handbook on Responsible Management. Edward Elgar.

Authentic Leadership: Leading with Purpose, Meaning and Core ValuesKemi Ogunyemi

In S. Dhiman and J. Marques (Eds.), New Horizons in Positive Leadership and Change: A Practical Guide for Workplace Transformation. Springer.

Natural Disasters, Geography and International Tourism- Ogechi Adeola

In T. Chaiechi, R. Wasson, H. C. Nnamchi and N. Emodi (Eds.), Economic Effects of Natural Disasters. Elsevier.

Plugging the Gaps in Africa's Tourism System: The Need for Tourism Leadership- Adun Okupe

In T. Baum, A. Ndiuini (Eds.), Sustainable Human Resource Management in Tourism. Geographies of Tourism and Global Change. Springer, Cham

Human Resource

Tourism & Hospitality

Book Subject Category Marketing

Title

Publisher

Faculty

Customer Service Management in Africa: A Strategic and Operational Perspective

Routledge

Ogechi Adeola

cases Title

Abstract

Author

Human Resource & Organisational Behaviour Jero Oloye and Sunrise Consulting Ltd

Lagos Business School

This case is about Mr Jero Oloye, a management employee of a Ogechi Adeola firm who was found to be engaged in actions that appeared as personal dealings at the expense of his organisation. The Managing Director of the firm was trying to understand what was going on and if Mr Oloye had taken advantage of his position to benefit himself, and if it constituted a conflict of interest. She was also wondering what actions she could take against him if he were found guilty of taking advantage of his position.

The Homefront

THE FUTURE OF WORK Takes Centre Stage At 2019 Lagos Business School Alumni Day By Toluwalope Omoyeni When conversations on the future of work are raised, a lot of people tend to think of robots and automation taking over jobs. This misconception was corrected at the 2019 edition of the Lagos Business School Alumni Day where thought leaders and industry experts gathered to discuss the Future of Work and what it portends for Nigeria and Africa.

eld at the Honeywell Auditorium on November 21, 2019, the event started with an Economic Session presentation delivered by Founding Managing Director, Agusto & Co, Olabode A g u s t o . T i t l e d , “Macroeconomic Outlook and Implications for the Ability of Banks to Grow Loans to the Private Sector”, Agusto

Lagos Business School

t o u c h e d o n t h e Macroeconomic Outlook for 2020, growing loans to the private sector and how the banking sector is positioned to do this. He said, “Nigeria's banking sector can support economic growth by growing loans to the private sector. One of the ways to achieve this is financial intermediation i.e. taking

deposits and lending these deposits to businesses that will grow output.” Agusto added that the banking sector, however, needs to be healthy – have a low level of bad loans and adequate capital to absorb losses – to achieve this. Secretary to the Lagos State Government, Folashade Jaji read a goodwill message from the Executive Governor of the state, Babajide Sanwoolu to his fellow alumni and the management of LBS. During the breakfast break, the speakers, members of the Executive council and other participants visited the corporate stands before enjoying a 20-minute drama sketch sponsored by the OMP 28 Class.

Professor Enase Okonedo Opening Remarks

Setting the pace for the day's conversation, Conference Chairman, Group Managing Director, Greenwich Trust, Kayode Falowo asked a few questions on the Future of Work that provided perspective for the attendees. Some of the questions include, “Is your workplace equipped to meet the demands of the future workplace?”, “Do we have the right skill set to remain competitive in the future workplace?”, “What are the regulatory and legal frameworks in Nigeria to weather the storm of disruption?” among others. Guest speaker, Partner, Human Capital Advisory | Future of Work, Deloitte, Germany, Michael Liley unpacked the concept of Future of Work by providing what he described as an “optimistic outlook” to the topic. According to Liley, “two out of three leaders believe that AI machines are augmenting human capabilities, not replacing humans. They also believe using AI machines will change jobs, not take them away. Although machines are entering the workforce, humans and machines will work alongside each other”. Liley declared that everyone needs to acknowledge that all jobs in the future will have technology at their core as working with machines will redesign jobs in a way that humans will want to do it.

The Secretary to the Lagos State Government, Mrs Folashade Jaji, representing the Governor of Lagos State

The event continued with a panel session with Olufunke Amobi, Country Head, Human Capital, Stanbic IBTC; Chika Nwobi, Founder/CEO, Decagon Institute; Tunji Adegbesan, Founder, Gidi Mobile;

Joel Ogunsola; SSA to the Ondo state governor on Innovation and Partnerships; and Richard Arowolo, Full-time MBA 18 Class President. Moderated by LBS Faculty, Eugene Ohu, the conversation at the session was wellrounded as the panelists spoke from varied perspectives with Amobi challenging organisations to drive an inclusive culture and create multiple career options to fit employees from different generations. One of the crucial takeaways from the event is that ICT has the highest demand and highest number of jobs newly created, and trending professions are in the creative industry, food technology, 3D design, education, care and health sectors. The event closed with the president of the host class (CEP 26), Toyin Sanni thanking all alumni members in attendance for their support, LBS Dean, Enase Okonedo for her leadership, and LBS Alumni Association president, Clare Omatseye for providing the platform. The Alumni Day is one of the platforms LBS uses to ensure continuous learning for its alumni while also facilitating networking opportunities across the association.

“Is your workplace equipped to meet the demands of the future workplace?”, “Do we have the right skill set to remain competitive in the future workplace?” Kayode Falowo Group Managing Director, Greenwich Trust

Footprints | First issue 2020

President of the LBSAA, Clare Omatseye, giving her opening remarks.

Kayode Falowo, Conference chairman

Bode Agusto during his lecture

MC - Joyce Daniels

Michael Liley during his lecture

Registration

Jonas Nilsson, Toyin Sanni; Kayode Falowo; Mrs Folashade Jaji, Secretary to Lagos State Government; Clare Omatseye, LBSAA President; Professor Enase Okonedo and Peter Akindeju

Toyin Sanni, President, CEP 26 giving vote of thanks

Lagos Business School

Panellists - Chika Nwobi, Michael Liley L - R Professor Enase Okonedo, Akin Fatunke, (also conference speaker); Joel Ogunsola; Clare Omatseye, Bode Agusto, Kayode Dr Tunji Adegbesan Falowo and LifeWorth HMO CEO, Dr Raymond Osho

Members of the Sponsoring Class, CEP 26 Toyin Sanni, Peter Akindeju, Jonas Nilsson with Henry Onukwuba, LBS Faculty

Panel Discussion

Stage Play sponsored by OMP 28

Henry Onukwuba, Kayode Falowo, Bode Agusto, Michael Liley, Henry Andoh

Footprints | First issue 2020

MBA HANGOUT:

Solape Oshisanya

Alumni Gather For A Night Of Learning, Networking & Fun For alumni of the MBA programmes at LBS, the MBA hangout is a highly anticipated event. Held annually, the event features notable industry leaders and experts who share their industry experience with alumni of the full-time, executive and modular executive MBA programmes, in a relaxed atmosphere. It provides opportunities for continuous professional development and networking.

Group Picture - MBA Alumni

his year, the MBA hangout held at the Oriental hotel on Saturday, 7 March 2020. Notable Entrepreneurs Nike Ogunlesi (AMP 12), Chief Responsibility Officer of Ruff 'n' Tumble, Nnamdi Ezeigbo (EMBA 17), CEO Slot Systems and his wife, Nkechi Ezeigbo, ED Slot, were the guest speakers. In attendance were the management of the event's main sponsor, Sycamore, founded by FTMBA 15 alumni: Babatunde Akin-Moses, Onyinye Okonji and Mayowa Adeosun. Fisayo Akinwumi (FTMBA 15) Head of Operations, Jumia Foods and Ayomide Egunjobi, Chief Operations Officer, CleanAce Solutions Group represented their corporations who were two of the product sponsors. Other product sponsors include Slot Systems & Eat'n'Go (Dominos & Pinkberry). Also in attendance were LBS faculty (who served as anchors of the event), Professor Akintola Owolabi and Dr Kemi Ogunyemi; and LBS Staff, Jacinta Anakua, Head of Career Services and Ifeanyi Ajaebili, Marketing Manager, MBA programmes. Henry Andoh, Director Alumni Relations in his welcome address stated the commitment of LBS to continuous

education and promotion of networking opportunities for her Alumni. Nike Ogunlesi shared her fascinating entrepreneurial journey with alumni and emphasised on the importance of also presented every female present with a branded notebook to commemorate the 2020 International Women's Day. The evening progressed with Nnamdi Ezeigbo also sharing the incredible story of Slot Systems from its humble beginnings to the powerhouse that is it today. He focused on the power of integrity in building sustainable businesses. The networking session followed with refreshments provided by Eat'n'Go's Dominos & Pinkberry, while Segun Dada, FTMBA 10 performed a spoken word piece. Oghogho Osula, member of the Executive Council of Lagos Business School Alumni Association and Alumni of EMBA 22, presented gifts to the speakers and expressed gratitude on behalf of the Association. The event ended on a high note with a ballot for gifts provided by SLOT, Jumia and CleanAce.

Lagos Business School

1. 2. 3. 4. 5. 6. 7.

Babatunde Akin-Moses, MD Sycamore Adenike Ogunlesi (Second Right) with MBA Alumni Adenike Ogunlesi and Nnamdi Ezeigbo - Speakers Henry Andoh, Director, LBS Alumni Relations Jacinta Anakua & Ifeanyi Ajaebili of LBS MBA department and MBA Alumni L - R - Nnamdi & Nkechi Ezeigbo, Adenike Ogunlesi, Oghogho Osula, Henry Andoh L-R - Moyinwa Adeosun (COO, Sycamore), Segun Dada FTMBA 10, Henry Andoh (Director, LBS Alumni Relations), Babatunde Akin-Moses (CEO, Sycamore), Onyinye Okonji (CMO, Sycamore) 8. L-R Uzo Ofoma Chukwuma, Adenike Ogunlesi, Esther Ojo, Solape Oshisanya and MBA Alumni 9. Nnamdi Ezeigbo, Adenike Ogunlesi, Nkechi Ezeigbo 10. Professor Akintola Owolabi

Footprints | First issue 2020

11. 12. 13. 14. 15. 16. 17.

Lagos Business School

Oghogho Osula presents LBS gift to Adenike Ogunlesi Oghogho Osula presents LBS gift to Nnamdi Ezeigbo Onyine Okonji (CMO Sycamore) with fellow MBA alumni R - L Nnamdi Ezeigbo, Nkechi Ezeigbo, Babatunde Akin-Moses R - L Professor Akintola Owolabi, Nnamdi Ezeigbo and MBA Alumni Segun Dada and Dr Kemi Ogunyemi Segun Dada in a spoken word performance

LBS Insight

Marketing in the COVID-19 era: Take a step back

Vanessa Burgal

Airplanes are grounded, restaurants and churches closed, streets empty. The world seems to be on standby, waiting for something to happen.

n the meantime, companies are trying to survive. Those that shut down in response to government directives on the pandemic are planning what to do next, and those allowed to open are under pressure to deliver under challenging circumstances. There are not enough raw materials; blocked roads are not allowing product deliveries. Customers are on some variation of lockdown. Marketing Directors need to take a step back and rethink their whole strategy. With the postponement and cancellation of most of their action plans, marketing teams have to redesign and quickly create short-term and long-term campaigns. No more events, parties, or fancy influencers. Consumers are no longer looking at brands as personality or image tools to help them reinforce their external perception. They are now focusing on 'surviving' with limited essential products, threatened by potential job losses, and under the threat of an ominous virus. Brands have stopped their traditional communication to start connecting with the urgent needs of their consumers and society, reconstructing their customer relationship and thus, building a new communication strategy. But where do we start? Where do we focus? The starting point should be to understand the consumer. Consumers are currently confronted with a new reality, with new obstacles and problems. If we consider Maslow's hierarchy of needs theory, these days, we can see consumers seeking to fulfil their physiological or basic needs. They are moving from 'esteem' and 'self-actualisation' levels to the base of the pyramid, where 'physiological' and 'safety' needs become critical due to the current crisis. Therefore, many brands are adapting their communication messages from the image and personality objectives to more sensitive issues. For example, some brands are producing sanitizer gel instead of beer or soft drinks, ventilators instead of cars, medical uniforms instead of fashion items.

Lagos Business School

Vanessa Burgal During the Crisis, communication is vital in two ways: Ĺ¸

From the company to the client, using major media channels (digital, social media, television, radio), but also through more traditional and personalised channels such as the telephone, emails or text messages. This communication strategy is particularly right for B2B (Business-to-Business) companies with a database of loyal clients, who can be contacted regularly through a phone call or a personalised email.

From the client to the company, listening to customers and answering their questions, being proactive, and flexible. Companies have to listen because they want to offer their best customer service, even when they are

conscious, safe and reliable brands. On the other hand, lowincome segments (bottom of the pyramid), consumers living on one or two dollars per day, will continue in a survival mode. Companies offering products for this segment must learn to adapt their products to low-cost concepts, packs, or services.

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Ps hy c

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ne e

When looking at your Marketing Mix (4Ps), consider the Price as the most critical factor, but do not forget the Self Achieving one’s full potential including creative activities other Ps. The new price-sensitivity will Actualisation require companies to focus on their value brands and their premium Esteem & Autonomy Prestige, feeling of accomplishment brands. Consumers will expect to get value for money. The mainstream Belongingness & Love Intimate relationships, friends brands will suffer if you do not increase their value perceived. Companies can Safety Needs Safety & security try to develop smaller packs like the beverage industry is doing with the sachets for milk, water or spirits. Food, water, warmth, rest Physiological needs Another option is to add ingredients or supplements to the current recipe (vitamins, minerals, flavours). You can Maslow Human Need Hierachy (A. Maslow, Motivation and Personality, 1954) also restructure your yearly services, selling them through modules or reduced proposals (short-term not able to sell or serve products. Moreover, because subscriptions, modular studies). In other words, be creative customers are looking for support, they need to feel and innovate. understood even if their needs cannot be met immediately. Despite the distance, our employees From a promotional perspective, do not stop supporting your must show empathy and listen. brand. After the 2008 crisis, the companies that did not stop investing were the ones who recovered faster. Thus, even if 1 “Motivation and Personality”, Maslow 1954 you are focusing on reducing expenditures and managing cash, invest strategically in your core brand. Your brand Active listening can also be achieved through interviews, equity is more important than ever. customer surveys, blogs, and digital analytical tools. Marketing teams should focus on Understanding the Your point-of-sale and supply chains will undoubtedly be Consumer to provide better service and develop innovative affected. In the short-term, customers will go back to work, products. Set up a blog and ask your consumers to share their and in less than one year, we will be adjusting to the 'new' experiences during the lockdown (ethnographic research). normal, with higher online consumption and with customers From your CRM database, launch short surveys to identify focusing on the solid, safe and reliable brands. your current customer needs. Monitor and analyze your consumer behaviour on your website. Today, all these Thus, one can predict the success of companies that are research tools are available, affordable, and easy to use. listening to their customers and engaging with them, to offer

What is next? Do not wait till the end of the lockdown, start planning. Prepare different scenarios and be ready to redefine your marketing strategy and your traditional marketing mix. You will probably have to re-segment your market. Traditional segmentation will not be enough to help you target the right consumers and develop innovative products or services. Your customers will be risk-averse, healthconscious, and extremely price-sensitive. A recession, combined with a potential naira devaluation, plus countless job losses, will adversely affect numerous categories. The consumption patterns, especially among middle and upper classes, will change. The average consumer will stay at home, increase his digital usage, and look for health-

a better service and more innovative products. These are companies with creative, multidisciplinary, and efficient teams who are ready to respond to their consumer needs. Companies that continue investing strategically to reinforce their core brands. Furthermore, socially responsible companies engaged with their communities, which understand the value of a true and honest image to grant loyalty from their customers and employees. Take a step back and be ready for the future. About the Author: Vanessa Burgal teaches Marketing at Lagos Business School. She is an expert on brand development, launch and management as well as consumer understanding, market segmentation and brand positioning

Footprints | First issue 2020

COVID-19 era: Organisations and employees must collaborate

he novel Coronavirus, COVID-19 has spread to over 140 countries, with over 750,000 infections, and over 36,000 deaths worldwide. In Nigeria, authorities have announced 139 infections and two deaths (April 1, 2020). The virus has caused over 90% decline in oil price and wiped out a substantial amount of the value of the nation's stock market. The decline in the oil price has a significant effect on Nigeria's economy as oil is the primary source of our foreign reserves. The Naira exchange rate has gone up as well, and this has affected many organisations whose operations have high forex content. The Federal Government announced a 14-day total lockdown in Lagos, Ogun and Abuja; this action has effect on the operations and revenue of organisations, and will affect the work habit of employees. Organisations must go through this challenge and also prepare to take advantage of the expected business growth at the end of the hard time. The recommendations in this article are based on the premise that organisations and employees must collaborate to achieve a win-win solution to the challenges facing both parties. There are three things that organisations should know about surviving hard times. Firstly, in a lean environment, they do not have the leverage of influencing staff with the hard factors of motivation but can only use the soft factors that are based on relationships. Secondly, hard times help organisations to identify the employees who are mercenaries, and those who believe in their vision and identify with it. The former are in the organisation for the hard factors of motivation, while the latter are there because of the soft factors. Thirdly, organisations must be wary of decisions that will give short term relief but destroy their long term survival. Organisations face two major problems arising from this pandemic. The first is the increase in operational costs and a reduction in revenue due to the low purchasing power of customers. The second is the uncertainty surrounding the duration of the crisis. With dwindling revenue, it becomes questionable how long organisations can continue to carry employees' bills. Some organisations have implemented remote and other creative work structures to sustain skeletal operations. Employees, on the other hand, also face three main challenges. The first is the health implication of the pandemic. People are afraid of contracting the coronavirus, especially with the poor level of health infrastructure in the nation. The second is that employees may have to adapt to a new structure of work as organisations adopt remote working structures. Working remotely has great implications such as new time management techniques for effectiveness, inability to integrate work and family responsibilities, and increased stress levels. The third is fear and uncertainty surrounding their jobs since dwindling organisational revenue means organisations may not be able to sustain their benefits.

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Dr Okechukwu Amah Thus, in handling the current challenges, organisations must make choices that guarantee and also prepare them to take advantage of the expected business growth when the pandemic is over. Actions which give temporary relief but harm future survival should be accepted only as a last resort. Here are strategies that organisations can employ in establishing collaboration with employees: Open & Transparent two-way Communication Organisations should communicate openly and transparently about the situation and how it affects them. The communication must be two-way such that the organisation is frank about the challenges they are facing, and employees are truthful about how the situation is affecting them. This type of communication has a way of tapping into the tacit knowledge of employees which may be beneficial to the organisation. Organisations must avoid two extreme communication errors. The first is to be so pessimistic that employees do not see any future in the company. The other is to be so optimistic that the difficult situation and its consequences are masked. The communication must state the facts and also be inspiring, so employees see hope in the future of the organisation.

Organisations face two major problems arising from this pandemic. The first is the increase in operational costs and a reduction in revenue due to the low purchasing power of customers. The second is the uncertainty surrounding the duration of the crisis

common desire; the desire to work for the survival of the organisation and the employees. Trust is the foundation of sacrifice and tradeoffs needed to achieve the common desire. Trust cannot be legislated or demanded; it is earned. This is why if an organisation has been untrustworthy in the past, it becomes difficult to build trust in challenging times. It is the past trustworthiness of an organisation that provides the goodwill for trust in hard times. An environment of Collaboration and Cooperation

Dr Okechukwu Amah Show Empathy The second is for the organisation and the employees to show empathy both ways. There is a difference between sympathy and empathy. Sympathy means recognising what someone is going through, knowing that something should be done, but not giving a helping hand or offering any solution, while empathy means entering into someone's situation and being able to feel what the person is feeling. Empathy also involves being interested in helping the person find a solution to the extant feelings. Even though the situation endures for a while, empathy stays all the way until a solution is found. When an organisation and its employees demonstrate empathy, they both know what the other is going through. They know it is not business as usual, and they both want to ensure that each stays afloat for their future survival. For example, employees must know that the organisation may not be in a position to provide all their financial needs, and the organisation must also know that employees need some level of finance to take care of their personal and family responsibilities. How an organisation handles this will depend on its reality. However, sacrificing employees as the first option in any challenge does not show empathy on the part of the company. Build Trust The third is to build trust to guarantee the desire of the organisation and employees to collaborate to resolve their challenges. Trust is the willingness of a person to make himself or herself vulnerable before another person. It arises from open and transparent communication and empathy. Trust builds positive interpersonal relationships and is central to how people interact. It is very important in periods of uncertainty in business environments. Trust generates

Trust builds an environment of collaboration and cooperation, which is the fourth strategy. Collaboration is when organisations and employees work together to achieve the common desire established by trust. Collaboration creates a desire to find a win-win solution that is acceptable to both parties. Both the organisation and employees have the justification to work collaboratively to ensure that synergy is created. Each must recognise the challenges faced by the other, and work jointly to ensure they both find solutions. The solutions may not completely handle the challenges faced by each party, but in an atmosphere of trust, employees will be willing to make sacrifices, knowing that the organisation is not taking advantage of them. An example of where empathy gave rise to trust, which resulted in collaboration is the story of a CEO who had short term need for a cost cut amounting to $20 million. The CEO invited his direct reports to inform them of the company's need. He sought their contributions on how to achieve this. His direct reports stated that reducing staff would give more than that. The CEO reasoned that this was a temporary issue and that reducing staff would expose the company to danger when things returned to normal. He decided to allow the more senior employees to take weeks of vacation without pay. The least paid employees were excluded. In a town hall meeting to explain the plan, the CEO stated that it was better for all to suffer than for few to suffer. The CEO got the cost reduction he wanted, but also trust and collaboration rose within the organisation because employees felt the CEO showed empathy by the way he handled the situation. A major error that organisations make in hard times is making laying-off of employees the first resort instead of the last. There are many alternatives that can be explored before implementing a layoff. The world has faced pandemics in the past, which were eventually controlled. Organisations must realise that the Coronavirus crisis will end even though the time is uncertain. They should therefore not destroy the foundation that will make bouncing back post-pandemic possible. Otherwise, they would have to build another foundation after the virus, while others who planned properly will take advantage of the ensuing favourable business environment. Organisations must avoid decisions that will compromise their agility after COVID-19.

About the Author: Dr Okechukwu Amah teaches Organisational Behaviour and Management Communication at Lagos Business School

Footprints | First issue 2020

Disruption, Agility and Resilience

in a Pandemic Last week, I was privileged to have joined the LBS Conversations panel where I shared thoughts on Leadership, Disruption, Agility and Resilience in the context of the ongoing global pandemic and ensuing crisis, to participants numbering more than 2000. Dr. Akin Oparison

started with the story of a friend who lives in Lagos but has a farm in Ogun State. Before the COVID-19 outbreak, he visited his farm several times a week, but three weeks into the lockdown, he has been unable to do this. He has foresight and has always paid attention to making his workers comfortable. He built a decent residential facility on the farm where workers could stay if they had to work over a prolonged period. This facility now comes handy during the lockdown as workers can keep operations active on the farm while he monitors and appraises over video calls. Not only is this an agile response to the disruption, but the practice can also be sustained after the crisis, thus allowing him to invest in other value-adding and beneficial pursuits. Resilience is the ability to rebound in terms of delivery and performance. I contextualised what is happening to highlight the urgency and imperative of the need for agility and resilience as follows. We have had global pandemics before. There was the Spanish Flu in 1918 and quite a few before then. This is all happening in a compressed time frame. It is global and

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leading to drastic and restrictive proclamations by governments at various levels. We have all seen eerie photographs of empty streets and places of worship that were unimaginable before now. It is all happening in the full view of everybody, thanks to the media and a hyperactive social media propelled by the fertile mind of people.

Dr. Akin Oparison

We are having to make many adjustments and changes in almost every aspect of our personal and work life, all happening within this compressed time frame. We are making changes in our work patterns and adjustments to homeâ&#x20AC;&#x201C;work domain boundaries. Changes in the needs of customers/clients are placing new demands on what they require of us and how we deliver to them. We also have to adjust to the ways our suppliers now deliver to us, among others. We may be finding out that we were not quite prepared for many of these changes and so may feel vulnerable. Hopefully, we are also discovering hidden capabilities, and we are now drawing on them. Expectations of us as individuals and as organisations are changing as we come under closer scrutiny by customers, clients, managers, subordinates and society.

Here is the challenge. The instinct would be to focus on the noisiest alarms and red lights flashing urgent signals. These are flashing only because they were programmed to indicate deviations from normal operating conditions. By following such signals, we could miss more important messages in terms of unexpected opportunities or unprecedented vulnerabilities that could have a potentially more significant impact. There are emerging and escalating risks that the current situation would begin to expose, and we must be alert to these and track them closely. We have had national crises that have had a significant impact on economic activities before, but none of them has been so dire. What we are going through today is different in scope and in scale. We all seem to have more questions than answers at the moment. At a time like this, no one is an expert in much. What we need more than experts and experience is the ability to ask questions that challenge even our most strongly held opinions. Here are some questions to ask and seek answers to, if we are to build resilience and agility. What are the consequences of doing things we have never done before? Would we have to wean ourselves of these things or would we need to continue to do, grow and strengthen them? What bureaucratic constraints have we relaxed that we do not have to reintroduce? What is constraining us particularly at this time? Now is the time to begin to think of what we would need to do to free ourselves from such constraints.

coping without you or what you currently offer, who or what is filling that need? Are they likely to come back? Why should they? We have all found ourselves in a firefighting mode. We must do the firefighting that is required to ensure survival but my colleague, Professor Wale Ajai alluded to keeping an equal focus on the future, especially how current actions can constrain and liberate us in that future. Here is a situation in which we cannot make a choice between firefighting to stay alive and taking decisions to assure our future. Either/or decisions will not cut it. We need to develop an and/and mindset—paradox thinking and decision-making rather than trade-off choices. By the same token, we are in a situation in which we cannot take our eyes off the internal context of our organisations even as we keep an eye on external happenings that pose threats. There are pre-existing conditions that would be aggravated and can no longer be left in the backburner. Corridor talks – those unspoken conversations we are all having with nobody verbalising them, those things that may have challenged trust in the workplace may be finding their ways into the room – web conversations – now that there are no corridors. We need to develop keen ears for them, log them and learn to speak about them. Other hidden fault-lines in our teams like asymmetric information among team members and other covert conflicts will be aggravated. When they surface is the best time to address them. Paradoxically, the unsettled climate presents unique opportunities to repair and heal fractured relationships.

Are there supply sources, customers or distribution channels that we have been too dependent on that made us vulnerable? How do we spread risks? A company discovered that one customer accounted for 60% of its output and is now struggling as this customer was particularly hit because it was itself heavily dependent on the importation of a critical component required for its production from China. This may not be the time to succumb to the instinct to cut constantly. When you cut, what are you investing in? If you can't find what to invest in, you are probably not looking hard enough. The company described here can certainly not be thinking of cutting without investing in diversifying its customer base and embarking on supplier development, respectively. The question of downsizing staff has also been raised. Is your organisation's vulnerability arising because you have too many employees or because you have too little innovative ideas to stay strong? Making employee layoff a first option raises some questions. What does the action signal to those who remain in the organisation? Are they apprehensive or persistent in their commitment? It may be time to discuss fresh possibilities on coping and resilience with staff. You might just discover you have been sitting on a huge reserve of intellectual capital you have never mined. What are others doing – within and outside your industry? Your real competitors may not be selling and offering the same products and services as you. So, if customers are

Footprints | First issue 2020

There is an opportunity to learn and deliberately build capability to respond and not merely react. A few other things to consider and explore are: Ÿ

What regulations are being relaxed that we can leverage and advocate to be retained? What reliefs can we push for?

What internal policies must be changed or adjusted? = Addressing one has implications for other areas and could awaken a dormant giant. I call this the reflux effect. Always monitor the effect of any policy change to be sure it is addressing the issue it is meant to address and has not led to undesirable effects in other areas.

Are you doing work where it is most effective? If you have operations in different geographies, you are likely forced to take the expedient path of empowering your units to merely comply with national government proclamations in ways that are disparate. But then for the integrity of the whole, we must always find ways to pull all of these together, learn from them, stretch possibilities and engage in cross-functional and crossborder conversations. So are you thinking of withdrawing such flexibility? Why? Or would you seek to reinforce this? You may, however, need to build capability in far-flung nodes and at customer interface points and establish more robust mechanisms for coordination to ensure the integrity of the whole without undermining agility and responsiveness.

A small scale employer, during this crisis, asked if staff salaries should be cut now that they are working from home. This raises a few questions. What do they currently earn? Are employees paid for attendance or performance? How does this employer measure performance? It turns out that all he was measuring was attendance more than what individuals delivered. It was an eye-opener for this employer. What do we measure now that we refer to as performance that we didn't measure before? If they are important now, maybe they will always be, and we should institutionalise these. But then, what are the implications for our culture, corporate values, Employee Value Proposition and the kind of talent we should be attracting? Organisations need committed people, not merely compliant people, so recruitment processes must come under scrutiny. What type of people do we require? Problem solvers who are always asking why or compliant people who just want to be told what to do so that they can do it efficiently. The latter does not actually need to understand why because others have to worry about that. So we have to bring our performance management and our recruitment processes under closer scrutiny than we probably did before. What is performance, and how do we measure it now? How can we do these more effectively? What did we typically look out for in people we sought to recruit?

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For effective team working, especially as we are likely to be working more in virtual teams than ever before, we need to develop and continuously review our accountability matrices – who is accountable for an outcome? Who is responsible for different deliverables? Who needs to know and be kept informed, in the line of decision making or other areas? Here is a final thought. It might not be a bad idea to consider designating a learning officer to document and codify all of these tactical and seemingly uncoordinated responses as we firefight. This is because the people on the frontline making things happen may not be able to track what they are doing in real-time. We can then review these periodically to understand the consequences of these changes and adjustments as well as their implications. What do we want to retain and build on, and what would we want to end and why?

About the Author: Dr Akin Oparison teaches Human Resource Management at Lagos Business School and has over 25 years of management and leadership experience in blue-chip multinational companies.

Surviving and thriving through COVID-19 and beyond Dr Henrietta Onwuegbuzie

The novel Coronavirus (COVID-19), that has recorded over one million cases across the world, has almost paralysed the global economy. We are suddenly faced with multiple layers of crises, as the health emergency has cascaded into economic, social, moral, and security crises that have all crystallised. As more people are being infected, the resulting lockdowns have triggered several job losses, increases in mental health issues, domestic violence, child molestation and even rape. Security issues are not left out, as more people feel compelled to turn to crime to survive, especially those who live on daily earnings.

t is extremely important that we understand the several layers of crises that have been activated, to avoid solving one problem while unwittingly exacerbating another. For instance, the knee-jerk reaction for many businesses that have suddenly lost their customers is to lay off most of their staff. Apart from the fact that this will not necessarily save a business, which has to find novel ways to remain relevant in the post-COVID-19 world, employers have simply but inadvertently contributed to worsening the social and security crises, as a willing-to-work citizen may suddenly be compelled to commit crime in a bid to survive. If someone who was just a pay-cheque away from the street, or a barely surviving junior worker suddenly becomes unemployed at a time like this, what other options are open to him or her? When they turn to crime, who do you think becomes their first target? You guessed right because it is you! It, therefore, becomes imperative for business leaders to think through the consequences of their decisions before taking action. This article aims to help us unbundle the complexity of the current situation, and provide ideas to help as many

businesses as possible out of the crisis. It also aims to show that by considering the various dimensions of the crisis and tackling them holistically, we stand a chance of emerging much stronger than weaker. We could then be said to have transformed the crisis into an opportunity to create a better society, and possibly a better world. Apart from the healthcare catastrophe, the most immediate challenge resulting from the COVID-19 pandemic is the economic paralysis, as many businesses have suddenly lost their customers, and wonder how long they can hold out. To extend their lifespan, many have already started laying off their workforce. The lowest and most vulnerable of these, who were already struggling to make ends meet, are suddenly worse off and with no alternative income sources as lockdowns get necessarily extended. In a country like Nigeria, where relief items are not getting to many of those who need it most, the social calamity is best imagined, and will shortly

Footprints | First issue 2020

result in a security emergency, as more people will turn to crime to avoid starvation. To stop the ripple effect of the health and economic crises, business owners need to find alternative ways to earn by thinking up new problems they can solve in the current situation. Businesses must find ways to key into the new economy being created by the COVID-19 pandemic. Some businesses will lose relevance and need to make smart transitions to what is now necessary, others such as pharmaceuticals and hospital equipment manufacturers are thriving, while new essential businesses will be created. Business leaders need to quickly realise which category they fall into and then take necessary actions. For those businesses that are not likely to have customers now, the question to ask is what new problem they can solve, given their expertise. In seeking to answer this question, it is helpful to involve staff as they have their skin in the game. You may be surprised at the game-changing ideas presented, and may find that you were about to let go of the very staff you need to execute these new business ideas. Examples of businesses that have morphed include tailors in Aba, who have jettisoned whatever they were making previously to start producing face masks, Personal Protective Equipment (PPEs) and uniforms for staff on essential services. In Lagos, intercity transportation companies like GIGM are now focusing on providing logistics services to state governments, helping them move people and equipment needed to cope with the crisis. Grocery and food vendors, on the other hand, have enjoyed a sustained spike in demand, as people rush to stock up their homes as much as possible or governments buy up their stock for relief packages for the more vulnerable population. Telecommunications providers and digital media companies are also enjoying a spike in demand as the lockdown leaves them as the major means of communication. Tech start-ups like FarmCrowdy and Kobo 360, have also found a way to help the government get food to the needy by developing relevant Apps and providing logistics services. Several governments are coming up with economic stimulus policies to reduce the economic burden on citizens, by supporting Micro, Small and Medium Enterprises (MSMEs). This is crucial as MSMEs employ over 70% of the working population, and are extremely vulnerable to the current economic shock. Many cannot afford to pay their workers without earning and so, some governments have decided to waive taxes, provide grants and low-interest loans, mandated moratoriums on loan repayments etc. These measures are merely a stopgap. For businesses to survive, they must find ways to key into the new economy resulting from the global lockdowns and the need to keep essential services going. They need to morph in ways that make them relevant now. Every problem is a potential business opportunity. For instance, the need to get relief materials to the large vulnerable population like roadside artisans, who typically live hand to mouth, creates a new economy with a value-chain of farmers (food suppliers), logistics providers, trucks and drivers (distributors), cooks, packaging material and people to distribute goods to areas of need. MSMEs can key into any

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Dr Henrietta Onwuegbuzie

This period calls for flexibility and a stronger emphasis on solving new problems that have emerged. The fall in oil prices has led to a significant devaluation of the Naira from N360/$ to well over N400 aspect of this value-chain and earn income. Similarly, as people cannot move around, but continue to need essentials, the logistics sector will be experiencing high demand and will need to engage more drivers and vehicles. Which SME can fill this gap? As the global lockdown persists, the increasing usage of telecommunication and IT services suggest that these sectors may need to engage more people to ensure efficient service delivery, and usually need certain supplies to remain effective, thus opening up another business opportunity.

The need to heighten sanitation and hygiene will also give rise to jobs for fumigators and those producing disinfectants and other cleaning materials. In addition, the agricultural sector has to keep going if famine is to be prevented, especially now that food imports will diminish due to the slowdown in global economic activities and travel. This also presents business opportunities for farming, processing, warehousing and packaging. Farmers and all those who need to continue working in essential services will need to have their immune systems boosted while maintaining social distancing as they work. Immune boosters can be provided through pharmaceuticals like vitamin C and zinc tablets, or through natural herb combinations such as bitter-kola, bitter-leaf, ginger, turmeric, garlic and lemon. Others include cloves, garlic, negro pepper (uda), Benin pepper (uziza) and neem. This provides another opportunity for a business to package and distribute immune boosters in powdered form, such that those on the go like logistics drivers can conveniently utilise these packages. Considering that Africa has quite a number of herbs that boost immunity and can mitigate the severity of COVID-19, a new aspect of agribusiness will be herbal gardens that will grow these immune-boosting herbs in large quantities for both local consumption and export. We must begin to emphasise genuine African solutions to problems. For instance, more than a few people have mentioned how their recovery from the COVID-19 infection was partly aided by drinking and steaming themselves with hot potions that combine local African herbs. Time has also come for African governments to encourage their scientists to mainstream their research findings especially in the areas of health and medicine. This period calls for flexibility and a stronger emphasis on solving new problems that have emerged. The fall in oil prices has led to a significant devaluation of the Naira from N360/$ to well over N400. To help people sustain the value of their savings, Real Estate players could begin to market discounted properties, (as the global recession is likely to bring down the price of properties), as a means to preserve depreciating savings in local currency. People can choose to invest in discounted properties, which they can hold until they appreciate. Consequently, selling discounted properties becomes a safe way to maintain the value of one's savings. Besides the new business opportunities highlighted above, a big lesson MSMEs must learn from this crisis is the importance of saving for the rainy day while business is good. Rather than spend or distribute all profit, companies need to put aside a crisis allowance either monthly or yearly, such that ideally, a company should aim to be able to weather a bad patch for at least three to six months. Both businesses and national governments will also need to embark on improved efficiency and cost-cutting. African governments cannot expect donations from traditional creditors who are themselves struggling to cope with the pandemic and have lost trillions of dollars. Fortunately, the recently ratified African Continental Free Trade Agreement (AfCFTA) could come in handy as each country can supply

what it produces best to others. Perhaps the COVID-19 crisis will also prompt an end to the ridiculous importation of basic items such as pencils, biros, matches, razors and even toilet paper and cubed sugar, which could easily be produced in Nigeria but have been imported for decades. As travel restrictions are likely to remain for a while, African governments must look inwards and be able to help themselves. Nigeria, for instance, could start by cutting down unnecessary expenses and creatively thinking of new ways to generate national income. For example, there is a huge diaspora market longing for genuine African foodstuff, and Nigeria needs to tap more deeply into that goldmine, which with proper processing and packaging, can provide good business for smart entrepreneurs. It also creates a value chain of jobs for the suppliers (farmers) and those involved in processing, packaging and warehousing. Regarding oil, which has been both a blessing and a curse to Nigeria, the construction of a private local refinery and petrochemical plant, when completed, should end the significant leakage of national funds deployed to fuel subsidy and the importation of refined oil. On the other hand, it will bring in a huge chunk of the much-needed foreign exchange, as Nigeria will be a major exporter of oil to the rest of Africa. Another major source of badly needed national revenue is the large amount of funds looted by past leaders that remain in foreign accounts, in spite of what has been recovered to date. Nigeria needs to push for its return and ensure it is effectively deployed to lift the country out of recession. Finally, there is also a need to trim down the cost of governance tremendously. The country cannot continue to allocate more than 70% of its budget to accommodate the huge allowances and the extravagant expenses of the Legislature and Presidency. In the face of the current economic crunch, continuing with business as usual will mean risking a high level of social upheaval that can wreck the country, already troubled by unbridled terrorist attacks. Nigeria must curtail profligate expenses and focus on resolving crucial social and security problems, heightened by the pandemic. In order to get us through the several layers of crises we currently face, the best brains must be encouraged to come to the fore. Historically divisive tribal and religious sentiments must be set aside to give way to professionalism and competence, so as to successfully emerge stronger and better in the new post-COVID world order More ideas are contained in the article: â&#x20AC;&#x153;Proactive measures to live with COVID-19 while ensuring health safety and socioeconomic progressâ&#x20AC;? on the LBS website.

About the Author: Dr Henrietta Onwuegbuzie is the Director of the OwnerManager Programme, Lagos Business School and Senior Lecturer of Entrepreneurship at Lagos Business School. She can be reached via honwuegbuzie@lbs.edu.ng.

Footprints | First issue 2020

LBSAA & COVID-19 Alumni Classes aid in the fight against the Pandemic

s scientists all over the world race to find a vaccine for the rapidly spreading COVID-19 pandemic, the strain it puts on the society cannot be overlooked. The coronavirus has halted a large percentage of economic activities with the larger bulk of the effects being felt by informal sectors. The ripple effect of this is an increasing level of poverty and hunger especially among vulnerable members of the society: the unemployed, the homeless, the aged, and those who survive on daily wages. Following the tenets of their association and adhering to the mission of their Alma Mata to render service to society, the alumni of Lagos Business School Alumni Association came together, in their various classes, to alleviate the distress felt by various communities in desperate need for basic necessities. We attempt to chronicle the activities of these brave and gallant heroes in this feature and commend their efforts as they continue to spread the oasis of sanity in an increasingly chaotic world. AGMP 13: Food outreach to families in Bariga AGMP 13 class delivered food items to 50 families in Bariga, in what is to be the first phase of food distribution to several communities. The items in each care package included: 5kg of rice, 1 paint bucket of Garri, 1 paint bucket of beans, 2 tubers of yam, 75cl of Power oil, 75cl of Red Palm Oil, a pack of Knor cubes & a pack of Dangote salt The class plans to provide for 150 families, with 125 of them located in Lagos. 30 bags of Farmtain Rice (produced by one of the class members) was donated to another 30 families with additional items to make up for the care package. President of the class: Dr. Wale Adeduro

CEP 22: Donation of Food Items The CEP 22 Class provided food items for 450 families including security forces on the Mainland and Island. Items included rice, beans, garri, powdered pap, salt, groundnut oil, smoked fish, dried pepper and tomato paste. President of the class: Dipo Fakorede

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EMBA 4: Food Items & Education Support to The Destitutes /Beggars in Ebute Metta. The EMBA 4 Class provided food items and educated the Sarkis (leaders) of the destitute/beggar community in Ebute Metta on the COVID-19 pandemic and the importance of proper hand washing/ respiratory hygiene. The goal was to educate the leaders so that they can pass the preventive message on to the women, men and children in the community. To ensure that the message was clearly communicated, a Hausa language translator was part of the entourage. President of the class: Dr. Alex Orewa

EMBA 12: Food distribution to Ajah community. The EMBA 12 Class was at a community in Ajah to distribute food items and soap to 70 families. President of the class: Kunle Adewole

EMBA 15: Food Drive to communities around Barracks Bus Stop EMBA15 visited Egbeda/Idimu area with food items for widows and single mothers including 100 families. President of the class: Nene Olaoluwa

EMBA 16: Distribution of Food items and cooked meals EMBA 16 carried out a food drive two times in April including on Easter Sunday. Drive A: 340 family packs of food items - Lekki/Ajah Residents 85 family packs of food items - Mainland/Kosofe residents which includes beneficiaries from Oworo, Ifako-Soluyi, AnthonyMende & Ketu Drive B: 500 cooked Easter meals - Lekki/Ajah Residents 100 family packs - Mainland/Kosofe residents which includes beneficiaries from Oworo, Ifako-Soluyi, Anthony-Mende & Ketu. Family Packs of food items consist of uncooked Garri, Rice, Beans, Tomato paste & Groundnut oil. President of the class: Ebi Umusu

Footprints | First issue 2020

EMBA 17: Donation of hand sanitizers to Lagos State Government The EMBA 17 class donated 2400 bottles of 100ml hand sanitizers to support the anti-pandemic efforts of the Lagos State Government. President of the class: Oluwafemi Adeniba

During Presentation L â&#x20AC;&#x201C; R: Director, Administration/Human Resources, Ministry of Health, Lagos State, Mrs. Tunwase Adebowale; Ex-officio, EMBA-17 Class, Osagie Esangbedo; Permanent Secretary, Ministry of Health, Lagos State, Dr. Olusegun Ogboye; Director, Pharmaceutical Services, Lagos State Ministry of Health, Dr. Moyosore Adejumo; President, EMBA-17 Class, Oluwafemi Adeniba

EMBA 22: Food Drive to communities around Barracks Bus Stop EMBA 22 embarked on a food drive in association with the AuntLanda Bethel Foundation in response to distress calls. The Distribution Route focused around Barracks and working through the Communities on that route. President of the class: Efosa Aigbe

OMP 15: Food outreach to Orphanage OMP15 donated food items to Arrow of God Orphanage, Ajah. Members of the class present during the presentation include Celina Osagiede, AVM Femi Gbadebo (Rtd), and the President of the class, Major General Biodun Role (Rtd). and a member of the LBS Alumni Relations team President of the class: Biodun Role

OMP 17: Food outreach to 4 low-income communities The OMP 17 Class distributed food items (Bags of rice, semovita, garri, noodles & maggi) to 200 families in Bariga, Itedo, Makoko & Boundary-Ajegunle communities. President of the class: Sophia Onyekpa

Lagos Business School

Features

The Broken Window Theory

By Akin Akingbogun

The idea [is] that once disorder begins, it doesn't matter what the neighborhood is, and things can begin to get out of control.

ver heard about this funny sounding theory? Me too? At least not until a couple of years ago! It's a criminological theory applied in handling an epidemic of crime. You would then be wondering how this means anything! We will delve into the original hypothesis culminating into the theory and then its application into our normal lives. In 1969, Philip Zimbardo, a psychologist from Stanford University, ran an interesting field study. He abandoned two cars in two very different places: one in a mostly poor, crime-ridden section of New York City, and the other in a fairly affluent neighborhood of Palo Alto, California. Both cars were left without license plates and parked with their hoods up.

“If you take care of the little things, then you can prevent a lot of the big things”

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After just 10 minutes, passersby in New York City began vandalizing the car. First they stripped it for parts. Then the random destruction began. Windows were smashed. The car was destroyed. But in Palo Alto, the other car remained untouched for more than a week. Finally, Zimbardo did something unusual: He took a sledgehammer and gave the California car a smash. After that, passersby quickly ripped it apart, just as they'd done in New York. This field study was a simple demonstration of how something that is clearly neglected can quickly become a target for vandals. But it eventually morphed into something far more than that. It became the basis for one of the most influential theories of crime and policing in America: “broken windows.” What is the Broken Window Theory? The Broken Window theory was the brainchild of the criminologists James Q Wilson and George Kelling. They argued that crime is the inevitable result of disorder. If a window is broken and left unrepaired, people walking by will conclude that no one cares and no one is in charge.

Soon, more windows will be broken, and the sense of anarchy will spread from the building to the street on which it faces, sending a signal that anything goes! In a city, relatively minor problems like graffiti, public disorder, and aggressive panhandling, they write, are all equivalent of broken windows, invitation to more serious crimes. This is an epidemic theory of crime that states that visible signs of crime, antisocial behavior, and civil disorder create an urban environment that encourages further crime and disorder, including serious crimes. It therefore suggests that crime is contagious! The theory reinforces the impression that criminals perceive broken windows and other social disorder as a sign of weak social control; in turn, they assume that crimes committed there are unlikely to be checked. Well, the broken window theory always worked better as an idea than as a description of the real world. The problems with the theory which includes the fact that perceptions of disorder generally have more to do with the racial composition of a neighborhood than with the number of broken windows or the amount of graffiti in the area, are well documented.

Akin Akingbogun is the head of Retail Engineering at OVH Energy Marketing and President of SMP 69 class. Also known as the "Duke of Small talks", Akin is a public speaker, social entrepreneur and writer. Akin's writing can be found at www.akinakingbogun.com

Compelling theories such as this are often betrayed by evidence as critics test the universality of the message in diverse contexts. This theory therefore quickly became irrelevant. But more interesting than the theory's flaw is its relevance in other spheres of human life and psychology. This post is not just about the theory but its now diverse applications to life. The Truism The theory accentuates the importance of tackling issues decisively right when they

Dr. Tai Solarin often said; â&#x20AC;&#x153;may your road be roughâ&#x20AC;?

appear innocuous and insignificant. Failure to address this may lead to even a bigger problem down the road. A lot of the issues of life we face often leave trails in its wake. Signs are there to be heeded and many times we ignore the most obvious or lazily wish them away as not worthy enough of our attention until it snowballs into a really worrisome problem. Take a cursory look at some of the recent worries you have had to grapple with at work, family or in your personal endeavors. Look out for the little, niggling and annoying things that you probably ignored assuming they would fix themselves and how they have grown into a cankerworm causing all sorts of problems. When we fail to handle the small problems, the bigger ones pay us a quick visit. Simple!

advantage to invade the patient's body. Starting with ailments as small as the common cold, all the way to tuberculosis will soon find refuge in the ailing body. The body soon becomes the training ground for all sorts of illnesses (wellâ&#x20AC;Ś..unless anti-viral drugs help reduce the viral load). In life, sometimes when we experience failure of some sort, especially in endeavors where we have always excelled, we soon notice a torrent of misadventure back to back. All happening and festering as soon as the first sign of crack happens. Our bold face and resolve already weakened, we are soon tossed about like the waves at sea. Bad things happen in torrents many times, and when they do, it's best to brace up and stand strong as though holding on to the firmest structure in the fiercest storm at sea.

Any individual who is infected with the dreaded HIV will soon learn that in weakening the immune system, other opportunist diseases quickly take

Footprints | First issue 2020

The moment it takes a turn for the better, it suddenly appears like the sea is calm and we tread carefully trying not to prevent yet another wave of mishap. Many take advantage of this time following the popular saying that “He that is down needs fear no fall”. With nothing left to lose, we claw our way back to normalcy, fight our way back to the top and learn from our bitter experiences rather than wallow in selfpity. Bad things happen for no reason at all. It has nothing to do with your set of beliefs, or that you are forthright or that you are law abiding or that you are always cautious. Just as good things happen to bad people, bad things happen to good people and conversely. Are we therefore at one point going to go through life without suffering a mishap or failure? Chances are that not many people would go through life unscathed. Count it a privilege to learn from failures and mishaps. The earlier in life race it occurs, the better. The race is not for the swift, it's a long journey- this life. If it is all smooth and pretty, please watch out! Dr. Tai Solarin often said; “may your road be rough” We used to cringe whenever he uttered those words decades ago, but now the true meaning of those words are ever clear to every ex-student of his citadel of learning – Mayflower School, Ikenne. If you fail to learn from your experiences and failures, then that is where the real problem lies. To win the several battles in life, we must pay a lot of attention to the little things. They show the signs of the big things to come. This statement can be viewed as positive or negative. When you see the little issues starting to come up, address it quickly and decisively. Procrastination doesn't only make you lose an awful lot of time, it allows small issues that could have been hitherto addressed turn into monsters of worrying proportions.

Lagos Business School

When we win the little battles (which add feathers to our cap) we prepare ourselves for the big battles ahead. When we fail to fight in the little battles because we consider them insignificant and irrelevant, we fail to take the gain off it and fail badly to transform it into a learning experience for the battle ahead.

The broken window theory may have been an arguable criminology theory in the 1980s, but its relevance to our lives will remain as true as the color of our eyes.

This field study was a simple demonstration of how something that is clearly neglected can quickly become a target for vandals. But it eventually morphed into something far more than that. It became the basis for one of the most influential theories of crime and policing in America: “broken windows.”

CORONA VIRUS -What Can You Do? Dear Friends, 1. Let's understand that Coronavirus is a harsh reality in our modern life 2. COVID-19 infection is not a death sentence, as proven by thousands of treated and well recovered patients with build-up of antibodies in their plasma. 3. End of lock down does not mean end of Coronavirus spread 4. In the near future, some of our friends or family members might get this virus unknowingly and be asymptomatic carriers. The only way to stop the spread is to get tested and isolate. Chief Anil Grover 5. For positive COVID-19 patients, treatment in an IDH or isolation centre is the best MD / CEO â&#x20AC;&#x201C; GMDL solution available for now 6. Private hospitals should start a preliminary triage to identify suspected cases and robust referral mechanism in collaboration with NCDC and MOH 7. Healthcare workers and medical professionals are superheroes in this battle and they must be protected at all times with sufficient donations of PPE, gloves and masks from big corporates 8. Pool testing, massive screening and isolation is the need of the hour to stem the spread and save more lives 9. Recovered patients should come forward for plasma donations, which is immune with enough antibodies, for the benefit of sick people suffering from the virus 10. Finally, political and business leaders should send strong messages by being responsible and should fight the spread of fake news about the virus 11. Medical personnel and healthcare workers need moral support and encouragement in these times. They should not be stigmatised while fighting this COVID-19 war. With over 20 years in the healthcare industry in Africa, Rotarian Chief Anil Grover is the MD/CEO & Board Chairman of Grover Medical & Diagnostic Centres and Grover's Hospitals. An ardent philanthropist, He is also very passionate about nation building. Chief Grover is the president of the Chief Executive Programme (CEP 26) class and an active member of the Advanced Management Programme (AMP 22) class. Stay Safe | Stay Isolated | Stay Healthy | Stay Blessed. | God Bless you. | God Bless Nigeria

Making the Best of the COVID -19 Situation â&#x20AC;&#x201C; Personal Perspective

n December 2019, my key supplier from China had informed me about the temporary shutting down of their factory due to the outbreak of the coronavirus COVID-19. The situation was worsened by the fact that there was no guarantee for me as to when the factory would resume operations. Jonathan Ike-Olumba This dealt a huge blow to my CEO of Officelord Nigeria firm as we had made huge Limited financial commitments to the supply of some of our key inputs. At this point, I decided to diversify and set up an SME Consulting outfit given that a lot of my clients were SMEs. I thought that I could do more than just provide Office solutions to them but also offer them SME advisory services especially with the experience that I had gotten from Lagos Business school and coupled with the fact that I was a Chartered Accountant. I travelled the next week to the ACCA Africa Members Conference in Kigali, Rwanda and it afforded me the opportunity to network with many other SME and Financial Consulting firms who gave me practical insights into how to run a successful SME and Financial Consulting business.

for the year (My core business involved the sales of Office solutions, Computer systems and Technology accessories to SMEs) and so it was easy to leverage on my existing customers. Fast forward to March 2020, the Coronavirus pandemic had taken its toll on the Nigerian business climate and Lagos was at the center of it. Ironically, this period now provided lots of opportunities for my SME Consulting outfit. We started getting lots of calls and inquiries on how to help them pull through this very rough and challenging period. My firm was at the fore front of supporting numerous SME by organizing webinars and online meeting calls guiding SME's on how they needed to ensure that their businesses were still viable during this period. We offered more business advisory services focused on facilitating remote work for SMEs; business feasibility, analysis & continuity; disaster recovery strategies and revenue model restructuring. This has been a very interesting time for me as a person and also my business as I have learnt to focus on opportunities in every challenge and more so the idea that businesses should be impact driven rather than profit oriented has helped me in identifying opportunities to serve customers better. Jonathan Ike-Olumba ACCA, MBA, MNIM, a certified chartered accountant and management consultant, is the CEO of OFFICELORD NIGERIA LIMITED and OFFICELORD CONSULTING SERVICES. He is President of the OwnerManager programme (OMP 27) Class.

By January 2020, the SME consulting had started operation, we began by offering free financial advisory services to our existing clients on budget preparation and financial projections Footprints | First issue 2020

LBS Alumni Share why they return for more Uzo Ofoma Chukwuma

While Lagos Business School is known for its impact on society by developing business professionals with high standards of business ethics, professionalism and deep knowledge of general management practices, the school is also known for its distinguished alumni who have embraced these principles and have in turn, created impact in their environments. Over the years, many members of the alumni network have returned for more certificates, degrees and collaborations in many areas of industry. While there are many of our alumni whom we are proud of, in this article, we follow up with four of them. One thing we found as a mutual reason was the warmth and the quality of service by the department that rounds up their delivery with the now famous 'Enjoy' . If you are a true alumnus/alumna, I am certain that you know this department.

Lagos Business School

OGHOGHO JOY OSULA

SMP, CEP, EMBA

At LBS, everyone knows Oghogho Joy Osula, the ever-so-elegant woman of substance with an unassuming nature and a truly joyful spirit. She is a driven professional with a passion for excellence in all her endeavours, demonstrated by her numerous best-in-class awards over the years from her first degree at the University of Benin where she graduated as best overall in the Business Administration department and second best graduating student.

ghogho has over 28 years of experience in the financial services industry where she has also made an indelible mark. She started her career at Citizens Bank (now Heritage Bank) before moving on to Citibank and FSDH. In all three institutions, she won best staff and best performance awards. Under her leadership as MD/CEO at Mainstreet Bank Trustees (later Afribank and now GTL Trustees) and at Coronation Trustees, assets under management increased by 400% and 200% respectively. Oghogho has been part of the LBS family since her foray into the Senior Management Programme in 2004. Over the last 16 years, she has successfully bagged two more degrees: Chief Executive Programme (2012) and Executive MBA (2019), graduating as the best student in the latter. Based on her excellent academic performance, she was inducted as a member of the Beta Gamma Sigma, the International Honours Society for the top 5% of Business school programmes around the world. Oghogho is very active in the LBSAA, as a mentor to participants and fellow alumni, and as a member of the highest decision body in the LBSAA, the Executive Council. How did you know about LBS? I heard about LBS from the beginning. My brother-in-law, Ik Onyenekwe, was also working there, years ago. He told me more about the programmes, which were distinct in methodology and curriculum from other schools in Nigeria. What was your first programme and what did you gain from it? My first programme was the Senior Management Programme. I was

impressed with the programme and I did not realise how much impact it made until I was appointed as CEO within 5 years after completing it. It definitely prepared me for the role. Why did you come back for a second programme? While I was CEO at Mainstreet Trustees Bank, we decided that top members of management go for further management training. It was the HR Manager who told me about the Chief Executive Programme and recommended me for it. The programme was amazing. Because of the international nature of the programme, I met more than 20 executives from various countries in Africa and we all went to IESE, Spain. The programme was very practical with hands-on projects carried out in our own companies. The networking allowed cross selling as we had CEOs from various industries. Based on these interactions and training, Mainstreet grew from a loss-making company and one of the least subsidiaries in Afribank (after acquisition) to the highest grossing subsidiary of Afribank, with the most liquid assets and raking in â&#x201A;Ś1 billion in profit. You are the only alumni with three degrees: one MBA and two executive programmes. Why did you decide to come back for the EMBA even after the SMP and CEP programmes and what have you gained from it? I had always wanted to have an MBA but I could not give up two years for a Masters' degree as I was focused on building my career. However, the opportunity came while I was still at Mainstreet Trustees; I had acquired enough customers to take some time to improve on my knowledge. I remember being told during the

interview, that it would require a lot of work but I was determined. Initially, I considered going to Harvard for my MBA but LBS offers the same world-class training here and I will be able to stay with my family at the same time. I left Mainstreet at the beginning of my EMBA and shortly after I started, I got an offer more than five times my salary at Mainstreet. However, I had to undergo an eye surgery during the programme and missed some classes. Luckily, I recovered quickly and joined the EMBA 23 class. By then, the programme was updated and I took classes with the FTMBA 17 class as well. The time between the completion of class work and the graduation ceremony gave me enough time to meet up and graduate with my EMBA 22 class. I am now the Founder/CEO at OO Value Investment, an asset management and family wealth management company. Having attended these programmes, how do you feel about the school now? LBS is a world-class institution based in the heart of Africa that provides the platform to interact with other African business leaders. I am proud to be associated with LBS. When you look back at the experience, what would you identify as unique about LBS? LBS is a serene environment for learning. It is true to its aim of being an Oasis of sanity. I think the emphasis on ethical practices stands out for me.

Footprints | First issue 2020

HELEN EMORE

CEP, AGMP

The best way to describe Helen Emore is so many super-entities wrapped up into one heroine. Having completed the Agribusiness Management Programme (AGMP 5), she is now a notable agribusiness specialist; a business and project development expert; a faculty member at the Enterprise Development Centre; an adjunct lecturer at the School of Media and Communication, Pan-Atlantic University; a guest lecturer sharing experiences in the Agribusiness Management Programme; and the CEO of an agro-processing company. Prior to all this, with about 15 years spent in the advertising industry, she left SO & U to become CEO at Vantgarde, a media company she co-founded before she attended the Chief Executive Programme. Why did you come back for a second programme and what have you gained from it?

How did you know about LBS? I first experienced LBS while I was working at SO & U in 1993 through former colleagues, Julia Oku (AMP 6) and Udeme Ufot (CEP 3). After each class, they would come back to work and implement their learning. The corporation started to shift and everyone felt the impact. It changed the trajectory at SO & U and I knew I had to go to LBS someday. What was your first programme and what did you gain from it? I started attending the open seminars and each experience made a huge impact on me. I left SO & U to cofound Vantgarde in 2007. As CEO, I went for the Chief Executive Programme at the beginning of our operations. After watching my bosses at SO & U leverage their learning and networks at LBS for the growth of the company, I really wanted to join the LBS alumni network and I did thisâ&#x20AC;Ś 20 years later.

My father was a farmer and oil miller. I watched him do this for 30 years. Before he died, he did not implement some changes he wanted. I decided to venture into Agribusiness to continue his legacy. Taking the learning from Vantgarde, I went to learn about agribusiness formally, and if possible as an apprentice as well, before venturing fully into it. I knew I needed more information so I enrolled in the AGMP. The AGMP gave me a clearer picture of the Agribusiness ecosystem and I decided to settle in a space where I could also use my past experience in media marketing & consulting: Agro-processing and education. I have become a consultant in the space and I also run my own processing company, Aunty Helen Foods Processing Limited.

â&#x20AC;&#x153;

What was your first programme and what did you gain from it?

Having attended these programmes, how do you feel about the school now?

â&#x20AC;?

LBS is part of me and I am very connected to LBS and PAU. I lecture in different capacities at SMC, EDC and LBS. I have also sent staff to

My first programme was the Chief Executive Programme. I learned the dynamics of operating and growing a business in Nigeria; the business ecosystem and not just the principles and theories but also putting it into context.

short programmes.

The programme helped me put a lot of things in perspective. At the end, I decided let my company go, because the business model was not sustainable the way we were operating. I also saw that it was not my calling. I went into a transition period during which I decided to come back for Agribusiness Management Programme (AGMP).

LBS has order & structure and the ambience is so calm. It is like a boot camp that practices what it preaches. They bring faculty who have industry experience and all the information one needs to participate in the Nigerian business ecosystem.

Lagos Business School

When you look at the experience, what would you identify as unique about LBS?

NNAMDI MBAIGBO

OMP, GCEO

Nnamdi Mbaigbo is an astute businessman who enjoys teaching and philanthropy. Having graduated from the University of Nsukka, he set up Tropical Gates Limited, a company he has built into a maritime consulting, haulage, logistics, shipping and Export/Import powerhouse over the last 18 years. He also runs Freight Mart Limited and Kractos Marinus Global Service Limited, a manufacturing company that produces vegetable oil and tissue paper. He is a member of the Freight Forwarders of Nigeria and a Fellow of the Institute of Shipping, Nigeria. Nnamdi is also an International Director at the Centre for African Renaissance Reformation and Development; faculty member at the Salvation Army Training College, Nigeria; Founder of Drop Store Limited & Chairman of Fair Haven International Schools. Apostle Nnamdi is the President of the Full Gospel Business Men Fellowship, Apapa Royal Chapter. How did you know about LBS?

Having attended these programmes, how do you feel about the school now?

I have a mentor, Chidi Okpaluba (AMP 13), who I had always admired for years. He is an LBS Alumnus. I admired the way he spoke, his lifestyle, his carriage, his perspective of life. I also admired Pat Utomi who everyone associated with LBS. I wanted to be like these men. I am proud that I later became a son-in-law to Chidi Okpaluba.

The way LBS organises their programmes is amazing. The synergy with other top business schools and their practical approach to imparting knowledge is unparalleled. I will be getting tripartite certification upon completion of the Global CEO programme. This is truly amazing for me.

What was your first programme and what did you gain from it?

When you look at the experience, what would you identify as unique about LBS?

While working for Olam Group and Dangote Group, I decided to update myself with global best practices. I actually wrote in my application that I felt stale. I wanted to be informed about Ethics, Accounting, Corporate culture & sustaining work force morale. When I joined the Owner-Manager Programme, I knew I was in the right place. The quality of participants were amazing. The OMP 25 class has become my family.

LBS is always ahead of others. This Lockdown period demonstrated the ease and speed they adjusted to moving their programmes and activities online. They immediately started churning out webinars that addressed relevant topics.

Why did you come back for a second programme and what have you gained from it? After my experience in the Owner-Manager Programme in 2017, I decided to engage in continuous learning and submit myself to formal executive education every 3 years and engage with other participants who have the responsibility of managing organisations. As soon as the year 2020 arrived, I reached out to Dr Henrietta Onwuegbuzie and told her I wanted to go to Harvard for further training. However, she told me about Global CEO programme at LBS and sent the prospectus to me. The programme curriculum was well-suited to my goal of expanding into other parts of Africa. The programme thus far has exceeded my expectations. We study market trends and key aspects to focus on before expanding into another country. The quality of participants and faculty cannot be matched. They know everything I need to know. The interactions with my classmates have been amazing. In my current class, I have someone who has expanded into 23 countries.

â&#x20AC;&#x153;

...As soon as the year 2020 arrived,

I reached out to Dr Henrietta Onwuegbuzie and told her I wanted to go to Harvard for further training. However, she told me about Global CEO programme at LBS and sent the prospectus to me.

Footprints | First issue 2020

â&#x20AC;? 69

EROMONSELE AGBOIGHALE

MAP, SMP

Eromonsele Agboighale is a man who you can never ignore when he walks into a room. His imposing height is softened by his genuine smile and warm personality. He has a background in science, having graduated from the University of Calabar with a degree in Geology and obtained several international and national certifications in his field. Eromonsele has worked in the oil & Gas industry, rising through the ranks at Oando Gas and Power (now Axxela Limited) over the last 16 years. Eromonsele is a unique alumnus; while he was still President of his MAP class, he was elected as President of his SMP class.

How did you know about LBS? My first exposure to LBS was in 2005, when LBS was still located in Victoria Island. I attended the business data plan training and kept attending trainings from then on. My boss, Babatunde Baba-Agba also attended SMP 59, and I saw so many changes in the way he operated. I looked forward to participating in a programme to have that same impact.

What was your first programme and what did you gain from it? When I became a manager, our HR sent me for the Management Acceleration Programme (MAP). It was such a rich and rewarding programme, filled with relevant case studies and opportunities to network. I was elected President of my class and we won the best MAP class award the next year. I also won an appreciation award from LBS for selling the most raffle tickets ahead of the President's Dinner. My marriage and career was also transformed. The programme encouraged us to look at failures differently, approach them as weak areas that can be made strong. It was like becoming brand new. I started to have a different perspective on dealing with myself and people including my wife. I was blessed with a set of twins. The MAP was a life changing experience.

The school is fantastic. I love LBS. It is home. 70

Lagos Business School

The whole experience, from world-class education to the top-notch lecturers and the “Enjoy” experience (cafeteria);

LBS is outstanding in all areas. Why did you come back for a second programme and what have you gained from it? LBS is home to me. The biggest room in the world is the room for improvement and I wanted to come back home to learn more. I wanted to improve everything especially my financial modelling and public speaking skills. The opportunity came through work again. I spoke to my boss and told him of all the changes I saw in him after he finished the programme and I wanted those changes. He approved that I come back for the SMP and convinced the MD of the same. Having attended these programmes, how do you feel about the school now? The school is fantastic. I love LBS. It is home. When you look at the experience, what would you identify as unique about LBS? The whole experience, from world-class education to the topnotch lecturers and the “Enjoy” experience (cafeteria); LBS is outstanding in all areas.

ALUMNI

IN THE NEWS AMP 23 Okaima Ohizua appointed ED/CEO of Transcorp Power Ltd. Okaima Ohizua has been appointed as Executive Director/Chief Executive Officer of Transnational Corporation of Nigeria (Transcorp) Power Ltd., the power subsidiary of Transcorp Group. Prior to her appointment she was the Executive Director, Customer Services at Transcorp Hotels. She has over 25 years working experience and has been key to the continued service transformation at Transcorp Hilton Hotel, since joining the Board and Management in 2013. Preceding her role at Transcorp Hotels, Ohizua worked at Heirs Holdings as Chief of Staff to the Chairman Mr Tony Elumelu; at United Bank of Africa Plc as the Executive Director in charge of Customer Service; and at Citibank, Citigroup (Nigeria and Kenya) from 1991, for over 15 years, in units as varied and diverse as Customer Service, Operations, Electronic Banking, Sales & Marketing as well as in Relationship Management. A graduate of law from the University of Benin and the Nigerian Law School, Ohizua is an alumna of the Advanced Management Programme (AMP 23), Lagos Business School.

AMP 32 Owen Omogiafo appointed as President and Group CEO of Transcorp Group Owen Omogiafo has been appointed as President and Group Chief Executive Officer of Transnational Corporation of Nigeria (Transcorp), a diversified conglomerate with strategic investments and core interests in the hospitality, agribusiness and energy sectors. Prior to her appointment, Owen was the MD/CEO of Transcorp Hotels Plc and has over two decades of corporate experience in organisational development, human capital management, banking, change management and hospitality. She has worked as the Chief Operating Officer of the Tony Elumelu Foundation; HR Advisor to the GMD/CEO at the United Bank for Africa (UBA); and as an Organisation and Human Performance Consultant at Accenture. An alumna of the Advanced Management Programme (AMP 32), Omogiafo succeeded Valentine Ozigbo, another alumnus of LBS, effective March 25, 2020. In addition to the AMP, Omogiafo holds a Bachelor's degree in Sociology and Anthropology from the University of Benin and a Masters in Human Resource Management from the London School of Economics and Political Science. She is a member of the Chartered Institute of Personnel and Development, UK and a Certified Change Manager with the Prosci Institute, USA.

AMP 32 Christopher Ezeafulukwe appointed as MD/CEO of Transcorp Power Plant Christopher Ezeafulukwe has been appointed as the Managing Director / Chief Operating Officer of Transcorp Power Plant. He was the Executive Director, Business Development & Legal, Transcorp Plc. Ezeafulukwe has over 21 years' experience in business development, legal advisory and company secretarial roles. He holds an LL.B from the University of Lagos, a B.L from the Nigerian Law School, an LL.M from the University of Lagos and LL.M in Energy, Environmental & Natural Resources Law from the University of Houston, Texas. He is a member of the Nigerian Bar Association, the Institute of Chartered Secretaries & Administrators of Nigeria, the Association of International Petroleum Negotiators and was a member of the Executive Council of Association of Power Generation Companies of Nigeria. He is an alumnus of the Advanced Management Programme (AMP 32), Lagos Business School.

Lagos Business School

ALUMNI IN THE NEWS

CEP 9 Ibukun Awosika named winner of Business Achievement Award by International Business Honour Society Ibukun Awosika, has been named the recipient of the 2020 Beta Gamma Sigma Business Achievement Award. Founded in 1913, Beta Gamma Sigma is an exclusive international business honour society for AACSB-accredited schools, which are the top 5% of business school programs around the world. The Business Achievement Award is presented in honour of individuals for their significant achievement in business. Winners are selected based on criteria such as ethical business leadership and values of the Beta Gamma Sigma Society, including honour and integrity, and the pursuit of wisdom, earnestness, and service. Founder and CEO of The Chair Centre Group, Awosika is a foremost entrepreneur, author and motivational speaker. In a similar vein, Awosika received the Distinguished Alumni Award at the 25th edition of the LBS President's Dinner where she acknowledged LBS' role in increasing her desire and thirst for knowledge. Past winners of the BGS Business Achievement Award include Scott Salmirs, president and CEO of ABM Industries, one of the largest facility services providers listed on the New York Stock Exchange; and Angie Grissom, president of The Rainmaker Companies, a training, consulting and alliances firm serving accounting and legal industries. Awosika is a fellow of the African Leadership Initiative, Aspen Global Leadership Network, Institute of Directors, and Society for Corporate Governance Nigeria. She is a member of the Nigerian Economic Summit Group (NESG); has served on National Job Creation Committee (NCJC), and sits on the International Advisory Board of IESE Business School, Barcelona-Spain. She is an alumna of the Chief Executive Programme (CEP 9); the Global Executive MBA of IESE Business School, Barcelona-Spain; and Global CEO Programme of Wharton, IESE and C.E.I.B.S Business Schools. She obtained her BSc. in Chemistry from the University of Ife (now Obafemi Awolowo University), Nigeria.

EMBA 3 Korede Adenowo appointed as Head, Global Banking, and Nigeria of Standard Charted Bank Korede Adenowo has been appointed as Head, Global Banking, and Nigeria at Standard Charted Bank. Adenowo joined Standard Chartered Bank Nigeria as one of its pioneer staff in 1999. Prior to joining the Bank, he worked in Societe Generale Bank Nigeria and Deloitte Nigeria, where he qualified as a Chartered Accountant in 1990. Over the last 20 years with the Bank, Adenowo served in various capacities including being the Head of Global Corporates in Nigeria; West Africa and Africa respectively. Subsequently, he was the Cluster Head, Financial Institutions and Public Sector, West Africa where he provided strong leadership in building and managing key strategic FI relationships across the region. In his most recent role, Adenowo was the Chief Executive Officer for Standard Chartered Bank (SCB) in The Gambia and still serves as a non-Executive Director of Standard Chartered Sierra Leone from 2014. An Economist turned Chartered Accountant; Adenowo is an alumnus of INSEAD and Said Business School of Oxford University where he had management training in Leadership and holds an Executive MBA from the Lagos Business School. He was appointed a Fellow of the Institute of Chartered Accountants of Nigeria in 2000.

EMBA 4 Samuel Egube appointed as Commissioner, Economic Planning & Budget, Lagos State Samuel Egube was appointed Lagos state commissioner for Economic Planning and Budget. Sam was also a member of the Sanwo-Olu Transition committee. A professional banker and writer, Egube has over twenty years of experience in Banking and Financial Services, Business Consulting and Engineering, Strategy and Financial Management, Project Finance Evaluation/Structuring, Operations' Evaluation and Optimization, training and motivational speaking.

Footprints | First issue 2020

He began his career with Arthur Andersen and Company (now KPMG professionals in Nigeria), and has worked in United Bank for Africa Plc, NNB International Bank Plc, First Bank Nigeria Plc, Diamond Bank Plc and other financial institutions. Egube is a fellow of the Institute of Credit Administration (FICA), member of the Nigerian Institute of Management (AMNIN), member of the Nigerian Society of Engineers (MNSE), a member of the Council for the Regulation of Engineering of Nigeria (COREN) and the Chartered Institute of Bankers. He attended the University of Benin where he bagged a Bachelor of Engineering (Civil) degree. He is also an alumnus of IESE Business School, Spain and Lagos Business School (EMBA 4).

EMBA 4 Bunmi Lawson appointed as MD, EdFin MFB Bunmi Lawson has been appointed as Managing Director of Edfin, a new international Microfinance bank with focus on microlending to support and transform the Educational Sector in Nigeria. She is the immediate past and the pioneer Managing Director/Chief Executive Officer of ACCION Microfinance Bank Limited, a bank she nurtured from infancy to a leading National Microfinance bank. A former Executive Director, FATE Foundation Ltd/Gte, Co-founder and Executive Director, VLA Lawrence & Associates, she has over 29 years professional experience in finance, insurance, marketing, auditing and banking Lawson is a Fellow, Institute of Chartered Accountants of Nigeria, Institute of Credit Administration of Nigeria, Institute of Credit & Collections Management of Nigeria and Association of Investment Advisers & Portfolio Managers of Nigeria and Member, Chartered Institute of Bankers of Nigeria. She is an ex-officio of Fintech Association of Nigeria and a director of Enhancing Financial Innovation and Access (EFInA), (the UK Government's Department for International Development (DFID) and the Bill & Melinda Gates Foundation funded financial sector development entity). She sits on board of various organizations including CIBN Press; Advisory Boards of Bridge International Academies, Co-Creation Hub (CcHub), Nigeria, MaTontine Inc. New York, Simply Exponential Consult Limited, amongst others Lawson has attended several courses both locally and internationally at renowned institutions including Harvard Business School, INSEAD and the Boulder Institute for Microfinance and has successfully completed the CBN/CIBN Microfinance Certification Programme. She holds a Master's degree in Business Administration from the IESE Business School, University of Navarra and is an alumna of Lagos Business School (EMBA 4).

EMBA 9 Gbenga Makinde appointed as MD/CEO of United Bank for Africa SA, Benin Republic Gbenga Martins Makinde (popularly known as GMak) was appointed the MD/CEO, United Bank for Africa Benin SA, Benin Republic effective January 2020. Prior to his appointment, he was at the headquarters of United Bank for Africa Plc, Nigeria as Divisional Head, Corporate Banking Directorate, in charge of multinational manufacturers of fast-moving consumer goods (FMCG) with huge portfolios in breweries, beverages, foods and personal care industries. He commenced his banking career as a merchant banker in 1997 and his experience of over 22 years cuts across four banks where he cuts his teeth in retail, commercial and corporate banking; branch management and credit risk management. Makinde is a graduate of Ogun State University (now Olabisi Onabanjo University) and an alumnus of the Executive MBA programme (EMBA 9) of Lagos Business School. He is a fellow of Institute of Credit Administrators.

Lagos Business School

EMBA 12 SPARC appoints Nkechi Olalere, M.D as Executive Director Strategic Purchasing Africa Resource Centre (SPARC), a health systems purchasing initiative established as a partnership between Results for Development (R4D) and Amref Health Africa (Kenya), has appointed Dr Nkechi Olalere as Executive Director. Prior to this appointment, Dr Olalere was the Regional Technical Advisor (East & West Africa) Sustainable Health Financing at the Clinton Health Access Initiative, Inc. (CHAI). She also led CHAI's support to the Rwanda Social Security Board as the Technical Advisor to the Community Based Health Insurance Scheme. In her previous assignments, Dr Olalere served as the Chief Operating Officer – Hygeia HMO, Chief Executive Officer – Northbound Consults Limited (a Wellness Company) and Managing Director Redcare Health Services Limited (an HMO) in Lagos. She has had an extensive career spanning general medical practice, wellness, health insurance and more broadly, health financing. Dr Olalere was nominated in 2015 for the Nigeria Healthcare Excellence Awards for Healthcare Media Excellence-Electronic (Special Awards Category) and received the Excellence Award in the Nigerian top Executives in the Financial Services and Insurance Industry (2015) publication. Dr Olalere has a MPH from the University of Liverpool and is an alumna of the Executive MBA programme (EMBA 12), Lagos Business School.

FTMBA 8 Ruth Bisola Olusanya appointed Special Adviser to Lagos State Governor on Agriculture Ruth Bisola Olusanya has been appointed as Special Adviser to Lagos State Governor on Agriculture. Olusanya has almost 10 years of professional experience in leadership roles in Sales & Marketing and Supply Chain management – executing strategies towards Food security, SME inclusion, growth and profitability within a sustainable ecosystem. Prior to her appointment, Olusanya worked for Olam International, one of the world's largest Food and Agro Supply chain companies, where her stellar performance propelled her to senior management level within three years. At Olam Ghana, she led the Sales, Marketing and Supply chain operations, while managing international stakeholders in Mozambique, Cameroun, Vietnam, Thailand, India, UAE, and Singapore.

OMP 11 / CEP 25 Tara Fela-Durotoye listed among Forbes “Top 50 most powerful women in Africa” Tara Fela-Durotoye, CEO, House of Tara International has just made the list of “The Top 50 Most Powerful Women In Africa” on Forbes Woman Africa in the March 2020 edition. For the selection of the 50 most powerful women in Africa, Forbes Woman Africa says that it considered women who are leaders, influential, consistent and have created an impact in Africa. Durotoye helped build the make-up industry in Nigeria from the ground up as she founded Africa's first indigenous make up brand, House of Tara International, over 2 decades ago. Passionate about female empowerment and helping women run more successful businesses, she created initiatives like the Beauty Entrepreneur scheme which has set up over 15,000 women to own their own beauty businesses. She is the recipient of several awards including a recent National Recognition Award for her contribution in social impact and job creation presented to her by the Vice President of Nigeria, Professor Yemi Osinbajo and the YouWIN! Connect Award of Excellence. She is a member of the France/Nigeria Investment club which was incorporated in 2018 by the French President Emmanuel Macron. Durotoye is an alumna of INSEAD Abu Dhabi, Yale University, The Stanford SEED Transformation Programme, and the Harvard Kennedy School having completed the Global Leadership and Public Policy in the 21st century. Durotoye is an alumna of the Owner-Manager and Chief Executive Programmes (OMP 11 & CEP 25) of Lagos Business School. Footprints | First issue 2020

SMP 19 Zenith Bank Plc and Africa Finance Corporation appoints Henry Oroh as Executive Director and Non-Executive Director respectively Henry Oroh has been appointed as Executive Director by Zenith bank Plc and non-Executive Director by Africa Finance Corporation, the pan-African multilateral development financial institution established to bridge Africa's infrastructure investment gap. Oroh, who has almost three decades of banking experience, joined Zenith Bank in 1999 from Citibank where he spent 7 years in Operations, Treasury & Marketing. Having worked in various capacities and risen through the ranks, he was seconded to Zenith Bank Ghana Limited as an Executive Director in 2012, where he also become the Managing Director/Chief Executive in 2016. Oroh holds a bachelor's degree in Accounting from University of Benin, Edo State, an MBA from the Lagos State University as well as an LLB degree from the University of Lagos. He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and an honorary member of the Chartered Institute of Bankers (CIBN), Nigeria. He has also attended several leadership programmes and executive management courses at the Harvard Business School, Columbia Business School, New York, University of Chicago, University of Pennsylvania, HEC Paris & JP Morgan Chase, UK. He is an alumnus of the Senior Management Programme (SMP 19), Lagos Business School.

SMP 24 Premier Oiwoh appointed CEO, Nigerian Inter-Bank Settlement System Plc Premier Oiwoh has been appointed Managing Director and Chief Executive Officer of the Nigeria Inter-Bank Settlement System (NIBSS). With over 25 years of experience in the banking sector, Oiwoh has been described as â&#x20AC;&#x153;a strategic process enabler with vast experience in Process Automation, Centralisation, Payment System Implementation, Security and Information Technologyâ&#x20AC;?. Before his appointment as MD/CEO at NIBSS, Oiwoh was the Executive Director (Operations & Technology) at Keystone Bank. He has also functioned as Director/Head Operations and IT and other similar capacities. Oiwoh is an alumnus of the Senior Management Programme (SMP 24) at Lagos Business School and the Advanced Management Programme (AMP) at the Wharton School of the University of Pennsylvania, USA.

SMP 30 Mohamed Rufai appointed Chief Technical Officer at MTN Nigeria Mohammed Rufai) has been named Chief Technical Officer of leading telecommunications company, MTN Nigeria. He will be responsible for designing the company's technology strategy, developing its technology infrastructure, and supervising the implementation of network operations. Before his appointment, Rufai was with MTN Group as General Manager, Technology in South-East Africa and Ghana region and held the position of Chief Technical Officer at MTN Ghana until 2015. He joined MTN Nigeria in 2002 as an RF/BTS Support Engineer in Kano and has twice been named CTO of the Year at the Ghana IT and Telecommunications Awards (GITTA). Rufai is a graduate of Computer Science from Abubakar Tafawa Balewa University, Bauchi. He also has certifications from Cranfield University and Duke Corporate Education, India. He is an alumnus of the Senior Management Programme (SMP 30) of Lagos Business School.

Lagos Business School

SMP 52 Chimezie Okonkwo joins Cheki as CEO Chimezie Okonkwo has joined Cheki, the online car marketplace company as Chief Executive Officer. Okonkwo has over 13 years of experience in the telecommunications sector, where he was primarily responsible for managing and driving revenue for digital products and valueadded services. Okonkwo was previously Manager, Digital Products at 9Mobile, and was responsible for maximising revenue & margin return for the legacy services portfolio among other responsibilities. Before joining 9Mobile, he was the Team Lead, Mobile VAS at Terragon Group. Okonkwo holds a Special Executive Masters Certificate from the Metropolitan School of Business & Management, Dubai. He also holds a Senior Management Programme Certificate (SMP 52) from the Lagos Business School (LBS) and a Bachelors' Degree in Business Administration.

SMP 65 Halima Buba appointed as MD/CEO of SunTrust Bank SunTrust Bank Limited has appointed Halima Buba as its Managing Director/Chief Executive Officer. Buba has nearly two decades of cognate experience in financial services, spanning diverse functions in the banking industry. She rose to the level of Deputy General Manager at Ecobank Nigeria Limited before resigning to take up appointment as a pioneer Executive Management staff at TAJ Consortium Nigeria Ltd. She had previously served on the Board of Adamawa Homes and Savings Limited. Buba was also recently appointed as a non-executive director at Anchoria Asset Management (AAM), a specialist provider of active investment products and services to institutional and individual investors. She is a non-executive director at Nigerian Sovereign Investment Authority; Fellow, Chartered Institute of Finance and Control in Nigeria, Institute of Capital Market Registrars and Institute of loan and Risk Management of Nigeria. She is also an honorary member of the Nigerian Chartered Institute of Bankers. Buba holds a Bachelor of Science Degree (BSc) and Masters in Business Administration (MBA) from the University of Maiduguri. She is an alumna of the Senior Management Programme (SMP 65), Lagos Business School.

EMBA 24 Olumuyiwa Olusanya appointed MD/CEO at Health Partners HMO Dr Olumuyiwa Olusanya has been appointed as MD/CEO at Health Partners HMO. Prior to this position, he was an executive director in the same organisation. He was also Head of Care Management/Medical Services at Hygeia HMO prior to joining Health Partners HMO. A Six Sigma Black Belt trained healthcare professional, Dr Olusanya has almost 15 years' diversified experience in various health insurance models and plans with core expertise in innovation of processes and systems. He obtained his medical degree from the University of Ibadan and has a certificate in Health Economics (Essential Public Health Functions) from the World Bank Institute. He recently concluded his Executive MBA (EMBA 24) at Lagos Business School.

Footprints | First issue 2020

CEP 11 Bayo Olugbemi is elected the 21st President of the Chartered Institute of Bankers in Nigeria (CIBN) In its first ever virtual Annual General Meeting (AGM), the Chartered Institute of Bankers in Nigeria elected Bayo Olugbemi, MD/CEO of First Registrars & Investor Services Limited, as its 21st President. Olugbemi is a seasoned Investment Banker with over Thirty Five (35) years of experience in diverse areas of the Capital Market such as Share Registration, Stockbroking, Issuing House functions, Mutual/Unit Trust Fund Management, Treasury Management, Custodian Services and Securities Settlement. He is known as a turnaround specialist who took over the Registrars Department of First Bank and transformed it from loss making status to a Multi-Billion Naira venture. He is a Fellow of The Chartered Institute of Bankers of Nigeria; Chartered Institute of Taxation of Nigeria (FCTI); Institute of Capital Market Registrars; National Institute of Marketing of Nigeria; Institute of Directors (Nigeria); Certified Pension Institute of Nigeria; Institute of Management (Chartered); Global Association of Risk Professionals (GARP) Association of Enterprise Risk Management Professionals (AERMP) and many other professional bodies. Olugbemi is an author with three published books to his name; a clergyman and currently a Chief Examiner with The Chartered Institute of Bankers and an External Assessor to Yaba College of Technology. He has served and is still serving on several committees of the Securities and Exchange Commission; The Nigerian Stock Exchange and the Central Securities Clearing System (CSCS). He is also on the Councils of The Institute of Capital Market Registrars as President/Chairman of Council and Lagos Chamber of Commerce and Industry (LCCI) as Treasurer. Olugbemi has been on the Board of First Registrars & Investor Services Limited for nearly nineteen (19) years serving as the Managing Director/CEO. He holds a Master's degree in Corporate Governance and Ethics (MSc) from Leeds Metropolitan University, UK; Master's in International Business Management (MBA) from Lagos State University; and a Bachelor of Science degree in Accounting from The University of Lagos. He is an Alumnus of many prestigious Business Schools such as Harvard Business School (AMP 179); Wharton Business School, USA; Stanford Business School, USA; Institute of Management Development, Switzerland; INSEAD, Singapore, Euro Money Capital Market Training and Lagos Business School (CEP 11) among others.

Abuja: picture 1 &2 Northern Zonal Session on Entrepreneurship featuring Dr. Gabriel Ogbechie

Ibadan: picture 3 &4

Lagos Business School

SW Zonal Session on Productivity featuring Dr Jekwu Ozoemene

Ibadan: SW Zonal Session on Productivity featuring Dr Jekwu Ozoemene

Lagos:

Lagos - Henry Andoh, Director, LBS Alumni Relations welcomes the 30th set of the Owner-Manager Programme

Lagos: Lagos - LBS Alumni Session on Health featuring Dr Deborah Tella & Dr Oluseun Peter Nubi

Lagos: Lagos - LBS Session on the Economic Outlook featuring Dr. Andrew Nevin & Olaniyi Ogunbayo

Port Harcourt: PortHarcourt - SS-SE Alumni Session on Agribusiness featuring Dr Ikechukwu Kelikume

Footprints | First issue 2020

CLASS NOTES AGMP 11 Alumni of the Agribusiness Management Programme (AgMP) 11 visited the Hospice Orphanage Home, Surulere in December 2019, to distribute food items and celebrate Christmas with them. The President of the Class is Babajinmi Ajayi.

AGMP 13 Class members of the Agribusiness Management Programme (AgMP) 13 went on a study tour to KADMOS farms in January 2020. The farm, situated in Abeokuta, is owned by a class member, Mrs. Mgeboma Kuye. The President of the class is Dr. Wale Adeduro.

AMP 12 Alumni of the Advanced Management Programme (AMP) 12, renovated four dilapidated classrooms ( a classroom block) at Ilasan Junior Secondary School, Jakande Housing Estate, Lekki. They also commissioned the classrooms upon completion. The immediate past President is Mrs. Nkechi Obi who was recently succeeded by Mr. Rashid Amao.

AMP 22 Alumni of the Advanced Management Programme (AMP) 22 class donated towards settling the outstanding bills of seven patients at General Hospital, Marina. . The patients expressed their appreciation for remembering them at their most trying period. The management of the hospital, represented by Mrs Okunmuyiden (HOD, Social welfare department), thanked Stallions for our thoughts, care, and financial support to their patients.

Lagos Business School

AMP 26 The Class members of Advanced Management Programme (AMP) 26, donated towards a free medical outreach in Offa, Kwara State. About 350 elderly persons benefitted from the programme held in 2019. The outreach involved a health talk, clinical examinations, free drugs, counselling and medical consultation. The Olofa of Offa, Oba Muftau Gbadamosi Esuwoye II, commended the class for providing such services to his people and also participated in the health screening.

MEMBA 5 The Modular Executive MBA (MEMBA) 5 Alumni class embarked on a CSR project at Seabreeze Nursery and Primary School Tolu, Ajegunle in 2019. MEMBA 5 rose to the task of renovating the dilapidated school which involved the flooring of classrooms, fixing the roof of the classrooms and generally restoring the ambiance of the learning environment in the school to a satisfactory point.

SMP 48 The Senior Management Programme (SMP) 48 class visited Maryland community Primary, Junior Secondary and Senior Secondary Schools in December 2019 where they donated 3000 pieces of exercise books. For their CSR in February, the Class visited SOS, a home for children and the elderly, where they donated food items and a washing machine to aid in the care of the many residents. The class continued its annual sponsorship of Dustbin Village students: 2 students in 300 and 400 level of Universities; 1 student in 100 level at a polytechnic; 1 student in preparation for ICAN; 1 person awaiting JAMB; and 3 people training in Makeup artistry, Fashion design and Hair dressing.

SMP 56 The Senior Management Programme (SMP) 56 class visited the community at Oke-eri Down, Oworo, Lagos on the 12th of December 2019 where they contributed towards the welfare of the citizenry. They provided medical screening for 50 women for Cervical cancer, Paid school fees for 5 children for a full year and paid house rent for a widow for a year. The president of the class is Kehinde Olomojobi.

Footprints | First issue 2020

SMP 64 Alumni of the Senior Management Programme (SMP) 64 class went on September 18, 2019 to Awoyaya primary school, Awoyaya, Ibeju Lekki Local Government Area for their class CSR activity. The Class donated over two thousand exercise books to all classes from Primary 6 to Kindergarten. The President of the Class is Oladapo Akinloye.

SMP 71 Alumni of the Senior Management Programme (SMP) 71 took on the task of replacing dilapidated furniture to improve learning conditions at Isale Eko Secondary School, Lagos Island. They replaced tables and chairs for the entire Senior Secondary (SS) Class 3, a total of 135 sets for 3 classes. They also provided mentorship sessions to SS 3 and SS 2 students, encouraging them to create better visions for themselves and have better savings culture. The SMP class selected 10 students for a Bank Hackathon and Tech Fair to enrich and broaden their horizon of possibilities. The furniture was handed over to the school on March 19, 2020. The President of the class is Obazeh Michael.

EMBA 14 A The Alumni class of EMBA 14A donated funds towards the Lekki Food bank to feed 125 families of 5 people for a week. The class also donated funds to the widow of one of their own who passed on 9 years ago to aid the family during this pandemic..

Lagos Business School

THANK YOU Lagos Business School recognises alumni who have given alumni hours to the MBA department of the school. This group of alumni have been gracious in donating their time to participate in activities and events organised by the department, including admission interviews, career sessions, information sessions, MBA participants and alumni mentoring programme, class sessions as well as other alumni and participant interactive events. They are:

Name Yemi Oluwakuyide Kehinde Adebisi Nnaemeka Obiora Abiola Oduguwa Mitchell Elegbe Paul Orajiaka Stephanie Obi Samuel Udo Rosemary Udu Victor Ukwat Pabina Yinkere Ayodele Abioye Solomon Aligwekwe Olufemi Awoyemi Helen Emore Adekole Iludiran Oyom Ojo Hannah Oyebanjo Funso Soyoye

Class FTMBA 6 FTMBA 4 FTMBA 7 OMP 16 EMBA 7 EMBA 14B/AMP 20 FTMBA 9 EMBA 19 EMBA17 EMBA 13A EMBA14B SMP 47 EMBA 13 AMP 10 CEP 22 FTMBA 6 OMP 25 AMP 19 CEP 18

We also wish to thank the following individuals/organizations for their support & sponsorship of various Alumni events the last 6 months: Alumni Day Class of CEP 26: Toyin Sanni, President Okey Nwuke, Vice President Peter Akindeju, Secretary Raphael Femi Lewu Jonas Nilsson Solanke Ogunlana Sabina Idowu-Osehobo MBA Hangout Speakers: Adenike Ogunlesi Nnamdi Ezeigbo Corporate Sponsors: Sycamore.Ng Product Sponsors: Eat'N'Go CleanAce Solutions Group Slot Systems Ltd. Ruff 'n' Tumble Jumia Foods

Footprints | First issue 2020

LBSAA Footprints - First Issue 2020

Articles inside

LBS: Alumni share why they return for more

LBS Features: Alumni Articles

LBS Insight

LBS MBA Hangout

LBS Alumni Day 2019

LBS Faculty Update

Cover Story: The Rise of Sycamore.Ng

LBSAA & COVID-19: Alumni aid in the fight against the pandemic

Editor's desk

Alumni Happenings

Class notes

Alumni in the news