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Join Tekedia Capital And Own A Piece of Great Startups of the Future

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Five factors – knowledge, capital, land, labour and entrepreneur. How you combine and recombine them defines the wealth of nations and the capabilities of a people. The knowledge of a people is the wealth of a people. Unleashing that knowledge through risk takers (the entrepreneurs) have defined the progress of men and women.

But what do entrepreneurs really do? They bring all these factors together; that togetherness is seen via people, processes and tools, which are then used to create products and services to fix market frictions.

Tekedia Capital makes friends with these entrepreneurs, providing them with capital to go into markets and solve problems. If you want to own a small piece of the leading companies of the future, join Tekedia Capital syndicate and co-invest with us in the empires of the future.

Learn more, become a member, and be part of our next investment cycle here . We just fired a rocket; the target is a #Unicorn at New York Stock Exchange, London Stock Exchange, Lagos Stock Exchange, etc. Come along and let us improve our scale and precision with your partnership. Building #NextAfrica.

 

Comment on LinkedIn Feed

Comment: But Prof, I thought entrepreneur and knowledge is still the same e.g. a knowledge entrepreneur – so I can simply follow that it’s a matter of quality of entrepreneur. Another way, knowledge and labour – but mostly entrepreneur and knowledge.

My Response : You can have knowledge without being an entrepreneur. You can also have knowledge without being a labourer. Unlike Adam Smith’s mercantilist system upon which the old classical economics was formed, elevating knowledge as a factor of production is essentially saying that in modern markets we have x-factors. And those x-factors are not linear or even quadratic in impact; they deliver exponential impacts in changing basis of competition.

Think of it this way: you have 10 bank staff that reconcile books manually; it takes them 6 hours to do the job. You can get a better 10 staff who can give you a factor of 2 improvement (3 hours). You are operating in the realm of labour. But someone can make a software that does the same thing in a second. In that case, you are dealing with a new element which is possible because of new knowledge, not bound by improving “labour” as a factor of production. Now, that knowledge can be dynamic such that you can eliminate that labour (talk of AI, chatbook, etc). 

During the invention society era (up to AD 1500), the world had “knowledgeable inventors” but limited innovators. In other words, they had knowledge but they could not build products and services. Entrepreneur is different from knowledge because Entrepreneur makes things that solve problems. Tesla (the inventor) had knowledge but he possibly died “poor” like many in his time (inventors with knowledge); Elon Musk is an entrepreneur (innovator), he used that knowledge to build a product (a car) which solves a real problem.

 I explained this process in my book which received the IGI Global Book of the Year Award.

 

Preventing Employee Burnout In The Workplace

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Work Space

Burnout according to google is a form of exhaustion caused by constantly feeling swamped. It is a result of excessive and prolonged emotional, physical and mental stress. In many cases, burnout is related to one’s job.

In the workplace, it only occurs when an employee is overwhelmed with excess workload, or exhausted from the completion of a tedious task, which leaves them physically and emotionally drained. It becomes very difficult for them to keep up with the incessant demands of their employers as well as the demands of the workplace.

It is important to note that no organization grows when the team members constantly face burnout, because it lowers productivity, leads to lack of concentration, health decline, etc. One of the major causes of burnout in the workplace is work overload.

Among other causes, burnout can result from an inflexible schedule, unrealistic deadlines, unfair treatment. Managers must understand that an employee experiencing work burnout cannot perform well on the job. It will no doubt stifle the growth of the organization.

It is interesting to note that work burnout does not only affect employers, but also the organization, because a company can risk losing their competent and talented staff members. Due to how effective they are in the workplace, most employers tend to give so many tasks to their best team members, at the detriment of their well being.

Managers must come to the understanding that employees are humans and not robots, as some of the team members are likely to fail to deliver on a given task or fail to meet expectations, not because they are not effective, but as a result of too much workload.

Therefore, employers must see the need to withdraw certain tasks to avoid overwhelming their team members. One strategy often used by managers who do everything to ensure that the team members do not face burn out, is to provide them with paid time off.

However, here are four (4) ways on how employers can prevent staff burnout;

1.) Maintain A Flexible Schedule: Employers must ensure that team members are given flexible schedules in the workplace. For instance, there shouldn’t be back to back meetings and work execution that won’t give them time to rest or replenish their energy. Team members should have a place for rest in their work schedule, and not always constantly loaded with work as it will lead to burnout. There should be a flexible workplace schedule that accommodates their individual schedules most especially outside the workplace.

2.) Taking Note Of Excess Workload: Managers must ensure that employees are not unnecessarily tasked with unreasonable workloads. While workloads might be sometimes necessary, probably due to meeting deadlines, however, it shouldn’t be a regular thing. Managers must take note of workload being given to team members, and carefully observe if it is too much for them to handle. Once they notice that their team members are overwhelmed with the task, it is ideal that they take off certain tasks.

3.) Offer Employees Time Off: Employers must see the need to give employees time off from work, where they can go on a vacation or rest from a hectic work period. The time off could be for a week, month, year, depending on what the manager decides. Time off gives team members the chance to reset and recharge which will no doubt see them resume at the workplace rejuvenated.

4.) Encourage Feedback: Though this can sometimes be uncomfortable and challenging on the part of the team members, feedback, positive, constructive or negative allows them to express their concerns over something they are not cool with. When a company has a workplace structure that encourages feedback, employers can get to know when any member of the team is faced with burnout.

Final Thoughts

No organization thrives when a large percentage of their team members are faced with burnout probably due to excessive workload. One negative impact is that it stifles the organization’s growth which also affects their revenue, because tired workers can’t give their best.

Therefore, it is pertinent for managers to deploy measures to eliminate work burnout from it’s team members, because once these measures are put in place and strictly adhered to, it will no doubt improve productivity in the workplace and encourage staff retention. The company’s revenue will also experience high turnover.

I am for remote work. I am also for onsite. Find what works for you.

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Elon Musk is his generation’s finest innovator, but on this one, he may not be providing a template for everyone to copy blindly. Yes, that Elon has said it does not mean it is the best model. My position is simple: market systems are different, and you need to check what works for your business.

Remote work offers many advantages because of the improving marginal cost efficiency which makes it easier to tap talent from anywhere on earth.

But that does not mean that if your business is on the quasi-industrial age type (making cars) that factory workers will not revolt if “soft” colleagues are at home working. To maintain equilibrium, HR might have told Elon to pause remote work. Do not follow blindly.

I am for remote work. I am also for onsite. Find what works for you.

Elon Musk has reportedly told Tesla employees that they must put in a minimum of 40 hours per week in the office if they also wish to do remote work.

“If there are particularly exceptional contributors for whom this is impossible, I will review and approve those exceptions directly,” he wrote, according to the screenshot, which was shared on Twitter.

Comment on LinkedIn Feed

Comment 1: It depends on nature of work and culture, not every job makes sense remotely. There are things that happen when people are in a room trying to figure out what works, trying to replicate same remotely is a joke. For elite and experienced employees, remote can get things done, but for others, expect inefficiencies and frustration at intervals.

Comment 2: Remote work was not designed for the kind of work we do here in nigeria. But every organization will choose which option will be favourable to them.

BusinessDay + Tekedia Institute = HUGE PROFIT for your company; Register for Tekedia Mini-MBA

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I begin my Nigerian day with BusinessDay. It is Africa’s finest business journalism. It brings the cases  live, and prepares me for the market day. You have your team; you want them to be knowledge-ready, on business frameworks/models and market news.

Tekedia Mini-MBA provides world-class business education (the frameworks and models). BusinessDay provides the news and leading practical fresh perspectives. You get both when you register for the next edition of Tekedia Mini-MBA which begins June 6 here: https://businessday.ng/tekedia/

(Once you register, you will get access to BusinessDay online portal and the team will send your email to Tekedia for login to the course. Companies, speak with Ihaza Anthonia of BusinessDay to guide you).

BusinessDay + Tekedia Institute = HUGE PROFIT for your company

Have a Vision and a Plan – And Become A Legend in Markets

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“You must have a vision, and not just a vision; you must have a plan that would make you fulfil that vision.” – Aliko Dangote

A trader like others. But he had a Vision and a plan. And over time, he has built Africa’s leading industrialized conglomerate. “The Dangote System: Techniques for Building Conglomerates” will explain to you how great category-king companies are built, from Amazon to IBM, Dangote Industries to Apple, etc. It is about accumulating capabilities, and compounding them, to fix market frictions at the upstream where few players can participate.

Begin reading the book the critics wrote “a revelation on making legends out of ordinary men”. It has been updated; start here.