What is your business strategy? No matter what it is, it must give you the most optimized way, to combine and recombine factors of production, to deliver products and services to customers, to fix their frictions, at the least possible cost, while in return, enabling you to capture rewards, as revenues and more, from those customers. You got business objectives, your strategy must provide the course of action or decision mechanisms to actualize them.
Do them right, the total efforts, financially quantified, of all the factors of production will be less than what the customers have paid you for those products and services; the delta is your “profit”.
So, there is an optimization for that delta: maximize what the customers can pay or/and reduce the total cost of those factors of production, ceteris paribus.
How has 2020 changed your strategy – and your outlook in Nigeria, Africa? I have a video below.
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