“The most dangerous thing for an entrepreneur to do is to actually go into a business that he does not understand fully.” – Aliko Dangote “Motivation, backed by good planning and correct action leads to success” – Aliko Dangote Throughout the presentation, I picked the following as some of the major pillars of Dangote success: Quality […]
3.1 – The Beginning and Evolution
“I always tried to move up the food chain… When I was trading sugar, I added salt and flour, so that then we could do pasta. And then I thought, why not make the bag for it too? So, we started making packaging.” – Aliko Dangote “To build a successful business, you must start small […]
2.3 – When Conglomerates Lose
“Don’t kill the competition. Competition is healthy for businesses. It keeps you the entrepreneur on your toes.” – Aliko Dangote Despite the strengths of conglomerates, they can be challenged by anyone that can master what they do. The conglomerates accumulate capabilities and they use them to compete. I will use an illustration of a Nigerian company that took […]
2.2 – Dangote Conglomerate Tax
“Manufacture, don’t just trade. There is money in manufacturing even though it is capital intensive. To achieve a big breakthrough, I had to start manufacturing the same product I was trading on; which is commodities.” – Aliko Dangote Dangote Group is one of the most successful companies in Africa. It has the operational quality and scale […]
2.1 – Winning Through Accumulation of Capabilities
“Nigeria is one of the best-kept secrets…A lot of foreigners are not investing because they’re waiting for the right time. There is no right time.” – Aliko Dangote Companies win by accumulating capabilities. From Google to Dangote Group, when companies accumulate capabilities, they operate in domains that generate higher value, usually upstream, compared with where […]