Siaka MOMOH
There are seven pillars of business resilience, Dr Biodun Adedipe Chief Consultant of B. Adedipe Associates Limited said in Lagos on Friday at the Nigerian Indonesian Chamber of Commerce and Industry (NICCI) Mid-Year Economic Summit 2025.
The pillars in question , according to Dr Adedipe who was key speaker at the event include: Ensuring good Corporate Governance and Ethics; building bridges and Strategic Partnerships; integrating Innovation and Technology; designing and sustaining Leadership Development and Investment in Staff; building Economic Resilience; finding access to Long-term Capital and embarking on and maintaining Sustainable Financial practices.
Adedeji argued that the fundamental problems of developing countries have been reduced to five deficits namely food, energy, manufacturing, infrastructure and housing.
Said he: “These speak to Nigeria in that we are not producing enough! Unfortunately, most policy makers and analysts focus on the symptoms and effects of these deficiencies rather than the big question, which is: ‘How to produce more in order to bridge the gaps?’ ”
Building resillience
Said he: “Recall that people don’t buy products but solutions to their problems.Every product must be designed and consistently tied to specific problems.This is also why in the literature on corporate failure, all possible factors have been narrowed down to ‘product failure’!
Product structure
“Core Components (primary), Features and Options (augmented or add-ons), Packaging (ecofriendly e.g., bamboo-fibres alternative for styrofoam food plates), Support Services (updates, maintenance, warranties, customer service, etc.), Lifecycle Issues (trade-in, replacement, etc.)
Benefits of Products
“Functionality (effective solution), Emotional (e.g., wearing a suit by Brooks Brothers “commands respect without ostentation. Almost every American President still wear BB garments), Economics (value for money, Social, (movement or connection).
Adedeji said more. He spoke about major global disruptions such as Ukraine war; pandemic and their after effects; macro -economics instability – worrying global inflation that is tamed but still worrying in some geographies; social divisiveness and its accompanying social misinformation and disinformation fanned by social media risk; generative predictive and agentic Ai; geopolitics; climate change and security challenge; BRICS and Israel-Iran war.
Regarding how to react to Trump challenge, he advised making overtures to other geographies – Asia, Europe and Africa of course.
