Risk Assessment Framework for Your Business …
Author: Amaka Ibeh
Many founders and CEOs no longer trust their strategic plans, however, they dread starting afresh to develop a new business plan. Strategy refresh, although not a popular term simply solves this problem. With a business strategy refresh, company owners and managers have the liberty to regularly hit the refresh button on their strategy until it is time to develop a new one. Do you think your business strategy is flawed? Every smart business leader is required to evaluate the performance …
Documentation is of key importance to sourcing funds for your business. The process, although time-consuming demonstrates the real financial character of your business to the potential investors/lenders. Its ability to summarize and tell the story of your business helps investors and lenders understand the journey of your business from its origins to today and beyond. Before approaching any investor/lender it is important to ask yourself, Is my business fundable? SMEs trying to secure funding for expansion, often run into difficulty …
Many companies in Nigeria are not prepared for a succession emergency, and many more are unaware of the consequences of having no Succession Plan. A founder who suddenly dies without a succession plan generates a shock that the business may never recover from. It is alarming that many organizations depend on a last-minute hiring process to fill in vacant leadership positions. This is an unconscious hindrance to business survival. Here are some risks associated with not having a succession plan …
Do you know that many businesses in Nigeria do not make it to the next generation because they do not have a succession planning strategy? What Is Succession Planning? Succession planning is the strategy for identifying and developing future leaders for major roles at all levels in your company. There have been many cases of skilled old leaders resigning, retiring or dying without a successor to take on their role effectively. Is your company prepared for succession emergencies? Under the best circumstances, surviving …