NOSAK GROUP HOLDS 2017 MANAGEMENT RETREAT

NOSAK GROUP HOLDS MANAGEMENT RETREAT, AIMS TO LEAPFROG IN MARKET LEADERSHIP.

Nosak Group recently held a two-day Management Retreat themed “Accelerate and Win: Leapfrog” at Sunfit Hotels, Amuwo Odofin where over 20 Managers and Department Heads from across Nigeria gathered.
The retreat was facilitated by Wright & Co Ltd, a management consulting firm (Affiliated with Leadership & Vision Ltd) that provides cutting edge solutions to some of the most complex challenges facing organizations today.

Guest speaker, Olu Onakoya, led the retreat with a session on the importance of Effective Communication as a Leader. A Former Managing Director of Mobil Nigeria, Olu Onakoya has over 30 years of cognate corporate and organisational leadership experience, most of which he was at top management level.

Dr. Toni Ogunbor, Chairman of Nosak Group, also conducted a session on the state of the company and trends in Nigerian economy. He applauded each business on its ability to survive in the current economic recession of the country.
Recognising the newest product line of the Group; Nosak Famili Vegetable Oil, a product of one of the newest venture, Nosak Farm Produce Limited. Nosak Famili Vegetable Oil is expected to circulate every Nigerian market before the end of the second quarter of the year, 2017.
This is already creating additional jobs and export opportunities for the country, which the Federal Government has encouraged of recent times. He further stated that, “It was an outstanding retreat and the results will be felt throughout the company for a long time to come. All our team members were able to benefit from the discussions with external facilitators and to participate in the continued aim for leadership of the company.”

An indigenous conglomerate founded in 1984, Nosak Group has built a reputation for providing the highest quality services and products ranging from lubricants, ethanol, retail outlets, real estate, financial services, healthcare solutions, logistics and industrial packaging for clients across Nigeria, as well as neighbouring African Countries.

NOSAK GROUP CHAIRMAN NOMINATED TO LEAD EDO STATE OIL PALM PLANTATION FORUM

Nosak Group Chairman, Dr Tony Ogunbor, was the distinguished Chairman of the Edo State Government Agribusiness Workshop held in Benin-City from 26th to 28th January 2017. Themed ” Harnessing Resources and Opportunities to Optimise Agribusiness in Edo State”. The Workshop was to identify specific areas of government interventions, engage stakeholders and facilitate private sector investments. There was no better choice of whom to open and lead the workshop than our amiable Chairman who for over 26yrs had seen and tapped the opportunities in the Oil Palm sector of the economy. The Governor, Deputy Governor and other eminent stakeholders in business, academia and government were fully represented.

In his welcome and opening address, Dr Ogunbor took the participants on a roller coaster ride of his rich experience in the Agric sector spanning the challenges and successes. He reminded the participants of the value of Agriculture in the country in the 50’s and 60’s before the advent of Crude Oil and how in spite of our fertile lands we have been caught in the dangerous web of the black gold. He enumerated the gains in Agriculture and the value chain opportunities therein. He further highlighted the numerous benefits accruable from retracing back to the agrarian culture and commended the State government in its quest to make Edo State the number one state in Agriculture.

Breakout sessions were held in which the Nosak team participated fully in the Oil Palm/Cocoa/Rubber Group. The Nosak Team was ably represented by Mr Robert Ogirri, MD of Nosak Farm Produce Ltd and Mr Victor Egharevba, Plantation Manager of Saturn Farms.

The Chairman was further nominated by the State Governor, Mr Godwin Obaseki, during the one on one session on Saturday to lead and chair the Oil Palm Plantation Forum and present the way forward for Edo State.

To read more on this, kindly click the link below: https://www.google.com/amp/nigerianobservernews.com/2017/01/agribusiness-workshop-opens-in-benin-city/amp/

4 STEPS TO GROWTH DURING A RECESSION

Can companies actually grow stronger during a recession? What can they do to capitalize on the problems that their rivals encounter during tough economic times? Suppose you have a sturdy balance sheet, low debt, and plentiful amounts of cash. How can you employ these strengths to take on rivals who have been weakened considerably?

Reminded of the importance of considering these questions in Steve Jobs’ recent quotes about Apple’s strategy in the days and months ahead. Jobs promises to expand the firm’s research and development efforts this year, even if economic growth does turn negative. Here is what he told Fortune magazine a few weeks ago, reflecting on the last recession as well as the current economic climate: “In fact we were going to up our R&D budget so that we would be ahead of our competitors when the downturn was over. And that’s exactly what we did. And it worked. And that’s exactly what we’ll do this time.” Of course, Apple sits in an enviable position. They have an impressive balance sheet, mountains of cash, and no debt. If your firm also finds itself in such a position of strength, remember that it too can use the recession to become even stronger relative to the competition.

Here are four steps your company should consider now:

  1. Invest heavily in research and development now so that new products and services are ready for launch as the economy begins to grow again. Your competitors may be inclined to cut R&D, particularly if they face high interest payments, substantial drops in revenue, and the like. If so, your acceleration of investment now will yield a strong product advantage in the coming years.

 

  1. Spend some time learning about the customers of your weakest competitors. You might be inclined to go after their largest and most attractive clients. However, be aware that your rivals are probably working desperately to save those customers. They might not, however, have the time and resources to focus on smaller clients. Focus your attention on these potential new customers, particularly those with attractive growth prospects and strong balance sheets.

 

  1. Identify your most critical suppliers and distributors, and determine if any face the possibility of severe impairment to their business due to the economic downturn. Assess the risk to your business if they should falter badly or even fail completely. Then, examine ways in which you might help those supplies and distributors weather the downturn. Even the smallest gesture can sometimes build an enduring loyalty that will pay off for years to come.

 

  1. Think carefully about your talent needs. As weak companies lay off employees, many good people will find themselves searching for work. Other skilled workers may still have a job, but they may be disenchanted with their struggling firms. Capitalize on this opportunity to identify and attract talented employees, while slack exists in the labour market.