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Enhancing Team Performance Through Positive Team Culture

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By Kalu Ndukwe

Working in teams is an important approach that helps to achieve more result, than that which is obtainable when employees are left to work individually. This is one of the reasons that drive organizations to form various teams for the performance of various tasks. The formation of work teams involves bringing together, individuals from different backgrounds who have diverse behavioral traits and capabilities. This is the singular advantage of team that makes it possible for it to lead to better performance. Different individuals working in a team, come with different perspective to a given task. These various perspectives, taken together, form the view of a team.

This sort of arrangement, however, does have the inherent potential of bringing up lots of interpersonal challenges. The reason problems do come up in teams is not because working in teams is problematic per see, but because working in teams demand more than using the ideology and approaches that is applicable, in the case of an individual working alone.

An individual may impose a matching order on self while working alone, to do things in a certain manner in which the individual feels will assist in better outcome. This can be done with a good measure of successful implementation, even without consultation with others or adequate assessment of how others might be affected by that exclusive self decision. But when it comes to working in teams, it’s quite a different thing. And one of the reasons dysfunctional issues will occur in teams is the attempt to adopt, while working in teams, the approaches that work well while working in isolation from a team.

Teamwork wins markets

Enhancing Positive Team Culture

The most important work of a team should focus on driving team’s effort towards the team’s objective. Positive team culture entails thinking and actions which foster synergy among team members, and drive joint effort toward the accomplishment of the goal of the team.

One reason a team that is made up of highly skilled individuals, could perform poorly is the pursuit, by an individual, to show how she or he is better than others in the team. To prevent this, demands that the thinking and actions of team members should be team-oriented. This also requires that management’s effort should support synergy among team members. To this end,

  • Team members should understand that the reason they are in a team is to support the overall team effort to achieve the stated objectives.
  • Individual team members should know that they are not in a team to showcase how better they are over other members of the team: a team is often formed by engaging persons across different levels of operation and administration. In this case, the team already knows the profiles of the team members. This should not be a problem. But it does causes problems when those who feel they are better or higher in position chose to lord it over other team members. Teamwork is famous for its potential of leading to high performance through mutual learning and mutual support by team members. When individual team member focuses on making other members see how he/she is better than them or how bad others are, compared to him/her, it discourages team learning. Making others see how bad they are only make the other persons feel insecure. They will go any length to oppose being made to look small. And if they lack what it takes to retaliate engagingly, they will simply use avoidance. If this is not addressed, team performance suffers the setback.
  • When individuals in a team, are rewarded based on individual’s contribution, it encourages competition which will not be healthy for the team. One of the important purposes of teams is to encourage interpersonal support in capability enhancement. This will be neglected when team members compete with each other. Teams should be rewarded based on team’s performance to encourage members to support each other.
  • One of the major causes of conflicts in a team is how under-performance by a team member is handled. Among the rationales for merging highly skilled persons with lesser skilled individuals, in a team, is for the lesser skilled individuals to become better by working with the others that are highly skilled. That a team member’s performance falls short of expectation is exactly why such a person needs support from the more skilled members to become better. Under-performance in teams should not be met with unhealthy criticism.
  • Teams should routinely engage in self assessment that is aimed at identifying loopholes. This should be promptly addressed by constructive team deliberations aimed at identifying the causes of the anomaly and suggestions of the way(s) to improve performance. In this way, the team is learning collectively and individuals don’t feel too intimidated to approach others to share challenges for fear of being made to look small (i.e. unhealthy criticism).
  • A team needs good communication to thrive and become productive. The points above show that positive team culture encourages better communication among team members. In the absence of this, team members, find it uneasy to communicate with each other in a productive manner.

In summary, the success or failure of a team depends, not so much on the caliber of persons in the team, as in the manner in which it goes about the task it seeks to achieve. A team is apt to succeed when all persons involve see reasons to convince themselves that it’s important to see each other as stakeholders saddled with the task of showing other members regard due to them; mutual support for the members of the team in addressing challenges; and in promoting the interest of the team over individual interest.

Creating Prosperity through Investment in Non-Consumption Economy

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Alaba market (Lagos State, Nigeria)

By Nnamdi Odumody

Most of the focus by companies and organizations when making investment decisions are based on the consumption economy which targets existing consumers that have the capacity to purchase products available in the market. Innovations such as those which sustain existing product innovations and those which improve efficiency such as those of the Fourth Industrial Revolution like  Robotics, Internet of Things, etc, do not create new markets or enhance prosperity as they don’t create new jobs, rather they eliminate the need for some of them.

But immense opportunities for wealth creation exist in the non-consumption economy which focuses on why potential consumers cannot purchase and use products or services. Four barriers are responsible for consumers not consuming products which will enhance their progress. They include not having the skills necessary to consume existing products available in the market, lack of purchasing power to afford the existing solutions in the market, inaccessibility of existing products to reach potential consumers, and time constraints which prevents non-consumers from benefiting from using available solutions.

Nonconsumption is the inability of an entity (person or organization) to purchase and use (consume) a product or service required to fulfill an important Job to Be Done. This inability to purchase can arise from the product’s cost, inconvenience and complexity, along with a host of other factors—none of which tend to be limitations for the rich, skilled, and powerful in society. For its part, a Job to Be Done arises when an entity is struggling to make progress in a particular circumstance, such as when someone gets sick and tries to recover. If there are not adequate facilities that can aid their speedy recovery, then that person is a non-consumer of basic health services.

Customer dissatisfaction from consumption of existing products or services is another key determinant in why people will prefer to remain as non-consumers. An understanding of what your product or service will do to the customers who are purchasing it is essential in determining whether your innovation will succeed in the marketplace.

More than 85 percent of Kenyans didn’t have access to financial services before the introduction of Safaricom’s MPESA mobile money platform which enables the storage, transfer and saving money without owning a bank account. MPESA has enabled more than 22 million Kenyans to perform financial transactions and access loans as well as insurance. It processes about $4.5 billion in monthly transactions and has created jobs for more than forty thousand agents.

Alibaba knew that the culture of its Chinese consumption market was different from the West where Amazon was dominant. It decided to create a niche that would allow merchants of Chinese products to sell directly to potential consumers which resulted in jobs for ten million small business owners and billions of dollars in revenues.

Emerging market economies such as Africa, Middle East and Asia have immense potentials for savvy entrepreneurs who target the next billion consumers at the base of the pyramid in these markets that desire products and services to help them achieve prosperity.

Unemployment in Nigeria – Desperate Times Call for Desperate Measures

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It is so pathetic each time I see different job seekers going helter-skelter for an invitation that only requires the service of just few hands. These job seekers spend thousands of Naira daily on transportation especially in a highly dense state like Lagos where transport fare hike is ever increasing. The state of the Nigerian economy is not helping matter either; this further buttresses the point why “Job Seekers” should put their destiny in their hands.

As the popular saying goes:  “Your wealth is in your hands”

Recently, I went to connect with an old colleague at a popular outsourcing firm in the Lagos metropolis, what I saw struck my nerve. The army of job seekers trooping in and going out was like a hit back to back.

These sets of graduate cuts across all major disciplines in the universities and as well major grades like First Class, Second Class Upper, and Second Class Lower. I couldn’t help but wept inside, and asked myself this, “Is this the true purpose of our tertiary education?”  Well, my answer is NO; it wasn’t, because I believe education is light.

Oh you Nigerian Graduates, this is the time to wake up from your dreamland as the tide of things has changed. Technology has taken over. Don’t be deceived by your certificate because it’s a means to an end, and not the end itself. Awaking the spirit of “I can do it” in you. Take your destiny into your hands. Face your worst fear and conquer it for good. You aren’t meant to attend universities, paid high tuition fees and afterwards be a slave to jobs whose income can barely feed you for the month.

We have surge of unemployed graduates littering every nooks and crannies of Nigeria right now. This is no joke. In fact, it’s surging daily with new sets of fresh graduates completing the NYSC coming into the already saturated job search market, and guess what? The universities keeps admitting more potential graduates yearly.

Proposed Solution

The major solution to the unemployment chaos bedeviling our country is to look inwards and be REALISTIC about life. We are in the era of Information Technology where you can learn so many high paying skills and be living comfortable with such SKILLS for life. Yes, I repeat for life. A kind of skill that can generate you at least 6 figures monthly.

What skills are they? They are digital skills itemized below:

  1. Social Media Marketing
  2. Copywriting
  3. Market Research Reports Writing
  4. Leads Generation for Companies
  5. Amazon Kindle Book Publishing
  6. Graphic and Book Cover designs
  7. Freelance ghostwriting
  8. Audio Transcription
  9. 3D Animation
  10. Software Design and Mobile App Development

How to Learn About These Hot Skills

Make a research with your internet; make your findings of the skill that you love doing. For instance, I’m great in Copywriting and Market Research report; hence I went for them and learn it through some paid platforms like Alison and Coursera.

If you do not have resources to pay for these sites, you can still learn; go to YouTube and learn as much digital skills as you can. Believe me YouTube has all your answers to digital learning skills. We’re in the internet age where soft digital skills rule the world. Don’t die in servitude all in the name of I’m a “graduate” cliché. The truth is jobs are scarce now! Take your charge of your destiny and build it to your own world. The ball is in your court today.

The Untapped Sector of the Nollywood

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By Ozioma J. Okey-Kalu

People usually feel dismayed each time I tell them I don’t watch Nigerian movies. Nollywood fans are always quick to judge and attack me before they hear my reasons. Some people say I don’t appreciate what is ours. Others believe I want to copy the western culture. And then there are those that can’t really say why they judge me. But the truth is, I don’t watch Nigerian movies because my children don’t watch them. I watch movies with my children so I watch what they watch (now ‘watch’ is everywhere).

Someone once told me that Nigerian movies portray our customs and traditions, which we have to hand down to our children and our children’s children. I don’t debate this at all. But are those aspects of our culture and tradition portrayed by these movies what our children need to learn about before they turn 18? I hope someone has a good answer to this.

Someone else told me that Nigerian movies are good because they will teach our children that people are bad. Or should I say, “The world is bad”? This one got me. I protect my young ones without telling them that there are bad people around. They will learn this when the time is right. Besides, I don’t want my children to say “No, thank you” because they believe that the old woman that offered them treats is a witch, or that the gift has been poisoned or bewitched. Worst of all, I don’t want my children to believe that another human being holds and manipulates their destiny. Let them grow up in their innocence, make their mistakes as they work towards their independence and then learn from life experiences, without looking for who to blame.

Another person told me that Nigerian movies teach people about our societies and how they operate – especially on the virtues of hard work, critical thinking, honesty and other ones that Nigerian culture is known for. This is so true and that is why I’m writing this article.

Now, the main reason I don’t watch Nigerian movies is because my children watch movies made for people of their age, which Nollywood is yet to go into. Yes, Nollywood produces only adult movies. This is one of the reasons some parents keep televisions in their bedrooms so they can watch African Magic and another television in the sitting room for the children to watch Cartoon Network and other channels that have kiddies’ programmes. These children’s movies are non-African, or rather non-Nigerian, which could have an adverse effect in the long run.

One major disadvantage of our children watching only the movies made by other countries is that they are learning the cultures and traditions of others. Not that I am against this, but we also need them to learn about us. Today, instead of our children learning about the cunning tortoise and the price he pays for his lies, they are learning about ogres that fall in love with princesses; instead of our children learning about the different ethnic groups in Nigeria and their past and present heroes, they are learning about Metro City and Gotham City and their superheroes; and instead of learning about Ojadiri that was a good wrestler, they are learning about Spiderman that can crawl on the walls (mothers will always remember the apprehension that comes whenever their children start playing ‘Spiderman’). Ok, my children love Spiderman and the members of the Justice League (told you I watch movies with them) so I am not against Hollywood kiddies’ movies. But, I want more.

This call is for graphic artists, script writers, hi-tech experts and any other person interested in this – WE NEED NIGERIAN CARTOON NETWORK. We need our children to be considered by the Nigerian movie industry. We are getting tired of the 18+ movies everywhere. We need Naija cartoons with Naija flavours. Our children also need to learn about their societies through our local kiddies’ movies. I personally want to see Nigerian cartoon movies in the market.

This is quite achievable if only the right people will come together to pull it off. Nigeria has a lot of graduates in Fine and Applied Arts, Theatre Arts, English, Computer Science, Computer Engineering and so many other fields that can work together to make this dream a reality. There are also a lot of non-graduates that are talented in 2D graphics – I see a lot of them in art shops on the streets. These people should be encouraged to make this dream a reality. They can go for further trainings to fully equip themselves before venturing into this new area. There are so many online courses – some of them free – on cartoon animation. I stumbled upon one in Udemy, and another one in Cousera. Those interested should look up these courses and other trainings and go into this virgin and ripe area in Nigerian movie industry. Let’s, for now, stop thinking about the unemployment rate in Nigeria and start finding those untapped areas. Let our talents, trainings and aspirations be put to work.

I believe that when African Magic Junior and Naija Cartoon Network come on air, I will start watching Nigerian movies.

Way to Wealth: Investment Opportunities for Nigerians

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By David Alade

Though I have written a couple of times about investing in the equity market, I understand quite well that the dynamics and volatility that drive the ecosystem of stockbroking won’t allow everyone to benefit from the promises it offers. To make up for this inherent limitations, and still help you to grow your wealth, in the following paragraphs, I will be examining “safe” and “less risky” investment opportunities an average Nigerian can leverage to grow wealth no matter how much you have to start with.

Mutual Funds

Many people do not know there is a stress-free way of growing wealth, a mutual fund offers such itch-free, secure and reliable opportunity. Mutual funds are investment vehicles managed by professionals trained to do so. Currently, an average fund in Nigeria returns over 10% per year, the implication of that is when you invest say N200,000, you will expect to cash out more than N220, 000 at the end of a 1-year cycle. When you factor in the principle of compounding, you will realize that 10% yearly is a lot in return.

How much can you start Mutual Fund with?

You can start with as little as N5,000. A lot of fund managers now receive that low as minimum capital. Currently, we have ARM, Cowrywise, StanbicIBTC, and more investment houses playing in this space. Reach out to anyone or more of them to make adequate enquiry about modalities and return.

Treasury bills

Treasury bills (TB) are a way of investing in government activities. Because the government is not rich enough, it tends to always borrow money both domestically and internationally. One of the ways it pursues its domestic borrowing is via TB.

How do TB works?

Unlike any other investment vehicles, TB is one investment vehicle that pays you your interest (return) upfront from day one of your investment. That is, if you invested N1m and the interest is 10%, on day zero of your investment, you will receive N100k as your interest, implicitly, you are only dropping N900k on day zero. On the expiration of the investment, you get your N1m investment back. Don’t worry it’s not that complicated. Good to mention as well is that this investment is regarded as risk free, in other words, it is one thing you can invest in and you can be sure you will get both your interest and capital.

How can you invest in TB?

So far, I-invest App by Sterling Bank is one Fintech solution that has been able to efficiently democratize access to TB investment. You can download it and start using it. You should note that TB on I-invest requires a minimum of N100k as a starting capital. Yes, N100k as minimum.

AgricTech Crowdsourcing Platforms

The rise of technology entrepreneurs has further increased investment opportunities available for an average Nigerian.

Crowdsourcing is a way of aggregating funds from different sources on a micro-scale, targeted towards investment on a much bigger scale than what individual micro fund would have been able to do.

What AgricTech entrepreneurs are currently doing is investing massively in Nigeria agriculture value chain, but these investment opportunities are opened to you and me via their different platforms. Currently, on top of my head, I can mention FarmCrowdy, Farmfunded and ThiveAgric as few of those avenues.

Risk and Return

While so far no one has reported any issue of nonpayment of capital and interest of the invested sum in any of these platforms, the risk of such exists. Please read all terms and conditions before investing and understand what you are putting your money into.

On the flip of the return, it’s probably the juiciest you can find in the market, currently returning sometimes up-to 30% per year on your investment. When you couple this with the fact that there’s not been any default news so far since the creation of the ecosystem, it’s a good thing.

Real Estate

There’s has been some crowdfunding opportunities in this space as well and return can be great if well managed. However, unlike all the above that I’ve talked about whose return can be realized within a 1-year cycle, real estate does not follow the antecedent. Yes, it takes more than a year to realize the value of an investment, but can worth it in the end.

I’m not so familiar with this space, but I’ve had discussions with players in the ecosystem. I caution that for anything you are putting your money into, you must conduct your due diligence yourself, don’t rely on what someone told you.

I have written so far on things you can invest in to grow your wealth, now go and do likewise. Save, invest and grow your net worth.