CU Students Get Hints on Solutions to Economic Challenges
A business management expert, Mr. Samuel Iruobe, has stressed the need for fundamental rethinking and redesign of the Nigerian economy to ensure effective and efficient administration, management and control of resources for all round dramatic results and improvement.
Mr. Iruobe made the assertion as the Guest Speaker at a recent Town and Gown seminar of the Department of Business Management, Covenant University, Ota, Ogun State.
Delivering a lecture titled, ‘The Role of Managers in Re-Engineering Nigerian Economy,’ Mr.Iruobe, who is the Executive Director, Golden Sceptre Limited, Lagos, defined a manager as an individual vested with the tasks of controlling or administering the resources of an organisation or an entity; based on his or her management skills.
Management, he stated, is the organisation and coordination of the activities of a business in order to achieve defined objectives.Referencing Michael Hammer and James Champy’s book, ‘Re-engineering the Corporation’ (1993), Iruobe defined re-engineering as the fundamental rethinking and radical redesign of business processes to achieve dramatic improvements.
Due to long years of bastardisation, corruption and abuse, the Nigerian economy requires a mixture of solutions, working simultaneously to boost economic activities and improve the standard of living of the average Nigerian, he said.
“This can be achieved through economic restructuring, which would leverage on comparative advantage policy in production and diversification of the economy, instead of over-reliance on crude oil earnings. Employment generation would also be enhanced through SME empowerment, to create a stable, booming and flourishing economy,” Mr.Iruobe posited.
In his remarks at the event, the Head, Department of Business Management, Dr. OluwoleIyiola, who was represented by Dr. Rowland Worlu, appreciated the Guest Speaker, the faculty, staff and students of the Department as well as the University Management for facilitating the success of the seminar.
He acknowledged the vision of the university management for establishing the Town and Gown platform and encouraged the students to maximise the lecture as it would help them in their future integration into the industry.
Also present at the event were the Director, African Leadership Development Centre, Dr. OlumuyiwaOludayo; Director, Quality Assurance, Dr. Edwin Agu;immediate past Director, Centre for Entrepreneurial Development Studies, Dr.OmotayoAdegbuyi; and members of the Department of Business Management and the College of Business and Social Sciences.