Wednesday, 21 August 2013

Conglomerates, SMEs raise success chance through business analysis

In recognition that business analysis increases chances of success, large conglomerates, small and medium enterprises (SMEs), and government agencies in Nigeria are warming up for the forthcoming 3rd annual National Business Analysis Conference.

Business analysis is important to help companies and institutions define, select and prioritise projects. It is also important in policy definition, formulation and implementation. Business analysis also assists companies and institutions to clearly define and document their processes so they can scientifically establish what is working and what is not working in order to easily detect and seal off leakages in the system.
Business analysis also helps in business and investment decision making, both for start-up, SMEs, large conglomerates and government agencies. It is also vital in driving public and private sector transformation and change management programmes.
The conference tagged ‘BAConf 2013’, being championed by African Centre for Business Development since 2011 – as a melting pot for contemporary business ideas and strategy, propelling enterprise-wide transformation in both public and private sector organisations in Nigeria – has demonstrated how business analysis can be used to effectively drive business results.
Addressing journalists in Lagos ahead of the conference themed ‘Building capabilities for strategic change’, Sam Ohuabunwa, chairman, African Centre for Business Development, said, “For too long, our country has underperformed in virtually every facet of the economy. We have seen a rather paradoxical situation where the more money our country makes, the poorer our people become.
National resources have been deployed to so many different projects in the different sectors of the economy, yet we see little or no results, and sometimes we see rather opposite results.”
He added, “Private sector enterprises that are expected to grow and provide the much-needed economic stimulus are crumbling, and barely managing to survive. As the chairman of the African Centre for Business Development, I have in the past three years supported the National Business Analysis Conference, principally because of the opportunity if affords us to redefine our objectives and rethink our strategy.
“Today, we have so many policy summersaults, a situation where we start running at the sound of what we consider a danger, and then suddenly realise that we are actually running in the direction of the imminent danger.
We need business analysis to help bring us out of this challenge so that our business decisions can become more scientific, thus increasing the chances of our success. We need business analysis to bring life and vitality to our economy.”
Source: businessday


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