We
have taken time to appreciate what value business is and what many thought was
business. It is now pertinent to fathom how business really comes to be or
originate. Business comes with just an idea occurring to one’s mind. It is a
product of abstraction and thinking by way of creating a product/service from
the mind.
have taken time to appreciate what value business is and what many thought was
business. It is now pertinent to fathom how business really comes to be or
originate. Business comes with just an idea occurring to one’s mind. It is a
product of abstraction and thinking by way of creating a product/service from
the mind.
Abstract thinking creates image, impressions on our mind, Akin bade
(1996). With these image and impressions, we tend to bring them to
actualization. Hence a product idea, whether tangible or intangible as in
service, can be crafted and brought to reality through the recognition of needs
and problems of society. People say necessity is the mother of invention.
During the Nigerian civil war of 1966 to 1970, when the Biafra authorities
could not readily get weapon to fight, they came up with the phenomenal bomb,
the Ogbunigwe, it was invented by sheer necessity to aid the war efforts and it
was effective
A
story was told of two American Christians who traveled over a decade ago to India
as tourists. When they got there, one of the Americans noticed that the Indians
were very poor people. Many could not afford shoes, so they walked on bare foot
with tattered clothing. One of these men took so much interest and pity; but
alas if he was to help, how on earth can one man better the lots of there
unfortunate people?
story was told of two American Christians who traveled over a decade ago to India
as tourists. When they got there, one of the Americans noticed that the Indians
were very poor people. Many could not afford shoes, so they walked on bare foot
with tattered clothing. One of these men took so much interest and pity; but
alas if he was to help, how on earth can one man better the lots of there
unfortunate people?
His
reflection on how to solve this problem caused him several sleepless nights,
ruminating and abstracting on how best to meet this need and solve the problem
such that these poor Indians can wear shoes. It occurred to him that if he
could design a cheap shoe with a medium quality leather and sole made from hard
inflated but light Dunlop, things could work out. So he got in touch with
factory and asked for a simple design meeting these standard
reflection on how to solve this problem caused him several sleepless nights,
ruminating and abstracting on how best to meet this need and solve the problem
such that these poor Indians can wear shoes. It occurred to him that if he
could design a cheap shoe with a medium quality leather and sole made from hard
inflated but light Dunlop, things could work out. So he got in touch with
factory and asked for a simple design meeting these standard
The
designer came up with a blue print i.e. a model. With a little modification, a
light sandal was produced. Yet the cost was too much for the poor Indian
population. The Americans Christians turned entrepreneur noticed that if he
could remove the iron buck and replace it with adhesive cloth or nylon-strap
the unit will come lower. The designer did this and Kitto brand of sandals came
to be.
designer came up with a blue print i.e. a model. With a little modification, a
light sandal was produced. Yet the cost was too much for the poor Indian
population. The Americans Christians turned entrepreneur noticed that if he
could remove the iron buck and replace it with adhesive cloth or nylon-strap
the unit will come lower. The designer did this and Kitto brand of sandals came
to be.
The
introduction of this brand of sandals into the Indian shoe market was a
miraculous success and within one week, the Americans had to wire back to the
designer in American to produce in large quantities. Today the kitto brand of light and hard Dunlop
sandals has found its way into many countries, including the Nigerian market.
Many other manufacturers with their own labels have joined the trade. A problem
and need was not only met in India but for the rest of other developing world.
Today the Americans has fulfilled dream in having contributed to humanity and
reduced suffering and poverty. He also has a huge reward for his idea – a
wealthy man he is today. Every business starts with an idea, start one today.
Business idea is a product of our training and experience and abstractive
thinking in life.
introduction of this brand of sandals into the Indian shoe market was a
miraculous success and within one week, the Americans had to wire back to the
designer in American to produce in large quantities. Today the kitto brand of light and hard Dunlop
sandals has found its way into many countries, including the Nigerian market.
Many other manufacturers with their own labels have joined the trade. A problem
and need was not only met in India but for the rest of other developing world.
Today the Americans has fulfilled dream in having contributed to humanity and
reduced suffering and poverty. He also has a huge reward for his idea – a
wealthy man he is today. Every business starts with an idea, start one today.
Business idea is a product of our training and experience and abstractive
thinking in life.
After
conceiving a business idea, it should not be left in the mind but should be
actualized to make or bring the idea into a tangible reality. This involves
creative producing the products or services. And the entrepreneur must lay down
a deliberate plan to actualize his abstractive and creative thoughts. The
framework below is popular and recommendable for implementation.
conceiving a business idea, it should not be left in the mind but should be
actualized to make or bring the idea into a tangible reality. This involves
creative producing the products or services. And the entrepreneur must lay down
a deliberate plan to actualize his abstractive and creative thoughts. The
framework below is popular and recommendable for implementation.
Stating
Business Objectives
Business Objectives
The
first step in planning any business is to state its objectives. A clearly
stated objective is a concise guide and serves as a good take off ground for
business. Because objectives are considered sacrosanct, we shall adopt the
following to underscore its importance and learn the skill and craft of stating
good objectives:
first step in planning any business is to state its objectives. A clearly
stated objective is a concise guide and serves as a good take off ground for
business. Because objectives are considered sacrosanct, we shall adopt the
following to underscore its importance and learn the skill and craft of stating
good objectives:
|
Poorly Stated Objectives
To create good acceptance of our firm by consumer
To market our product with dignity
To increase the market for our product
|
|
Effectively
Stated Objectives
To create awareness of our new product
in 40 percent of the 16 – 21 age group this year
To increase market share for our brands by 5 percent in the
coming year
To position our product over the next three years as the
undisputed leader in the Hispanic market in the United State |
EXAMPLE
After the above have been correctly done, then the inventor must
commence a sequential treading of the above path and articulate the other steps
that follow. The gamut of the rest we cannot go into for now. But suffice it to
say that the student should practice stating good objectives as business
students from now on
commence a sequential treading of the above path and articulate the other steps
that follow. The gamut of the rest we cannot go into for now. But suffice it to
say that the student should practice stating good objectives as business
students from now on
