NOSAK GROUP – pioneering survival strategies for businesses in a recession through Learning and Development

igie_odozi

The current economic variables playing out within the Nigerian business hemisphere have forced organisations to transition in order to survive and still maintain a portion of the market share. This has equally given rise to innovations as regards strategies for survival, which will hopefully mitigate against a future reoccurrence.

The Head Training – Nosak Group; Mrs Igie Odozi stated that this reality not only impacts businesses directly in terms of market share but affects to a larger extend the owners and drivers of the business. The major stakeholders in this endeavour are the owners and the employees. In situations such as the one business owners and organisations have found themselves in this country, the organisations will have to grapple with issues of shrinkage of the market, downsizing, cost savings/reduction in order to remain afloat while employees on their part are up and doing in seeking for greener pastures in other organisations to mitigate the risk of job losses. This to a large extent accounts for the current high level of employee turnover in organisations.

For organisations willing and seeking to remain afloat while running profitably, the key is to imbibe a culture of learning.  Training programmes for human capital development are now channelled towards ensuring the effectiveness of employee contributions to the success of the business. Consequently, smart organisations now adopt more effective solutions in workforce engagement through the retention of their critical talents. This is only achievable by continuous investment in learning and development. Learning and development continues to be a practice that requires a substantial chunk of investment and organizations that fail to adjust their learning management practices and solutions will struggle endlessly with declining organizational growth or productivity.

Nosak Group as a world class company, an innovative cum leading brand in industries is an advocate of this smart solution of investing heavily in continuous learning and development of its workforce using the best of technology and content. A recent study revealed that leading companies like Nosak Gorup are taking it further by leveraging on social learning activities; mobile learning solutions etc thereby consistently increasing the budget size for learning and development. This has equally given rise to a paradigm shift whereby there is a transition from the traditional context of strictly controlling approach of the workforce to the innovative approach of engaging and seeing the workforce as partners in the business.

The traditional methods of learning are also being abandoned in favour of more effective learning solutions based on cutting edge technology, which engages talent and improves performance.

In the present scheme of things, our approach at Nosak Group to organizational development are:

a).     Prioritizing the Individual employee.

b).     Development and Re-training key talent as a strategic business       priority leading to business growth.

c).     Strengthening partnership between the Group and our workforce. This makes us not to be overly “controlling” but one that views her employees as collaborators for success.

It is in line with this paradigm shift by the management of Nosak Group that a World class, fully equipped Training School was commissioned on March 15, 2017 to serve not only the needs of the Group but other organisations willing to key into this initiative. At the flag off of this laudable initiative; Group Chief Operating Officer – Thomas Oloriegbe appreciated the management team for the giant step taken to properly equip the training school with the latest technology offerings. This is geared towards impacting knowledge and empowering the work force in their respective disciplines.

Advertisements

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.

VACANCY:INTERNAL AUDIT & COMPLIANCE OFFICER

We are a reputable, world class, dynamic, creative and result oriented organization. We are currently recruiting for the post of Internal Audit and Compliance Officer.

 

INTERNAL AUDIT & COMPLIANCE OFFICER –                                     CODE: IACO-2017

Responsibilities:

  • Carry out verification exercise.
  • Carry out audit review activities as stated in the audit plan and allocated.
  • Carry out market survey as may be required.
  • Document and file according to reference document.
  • Carry out other audit assignment as directed by the unit Head of Internal Audit and Compliance.

Requirements:

  • B.Sc / HND in Accounting
  • ICAN /ACA registered or to start soon
  • Must be between 25 – 30 years of age
  • A minimum of two (2) years work experience as an internal auditor
  • Highly motivated, results-oriented individual with integrity, very confidential and able to work independently under minimal supervision with an attention to detail and accuracy
  • Analytical, excellent report writing and investigative ability
  • Experience in tank farm or depot will be an added advantage
  • Strong working knowledge of Microsoft applications (Excel, Word)
  • Ability to manage numerous tasks and sensitive information in a professional manner in a fast paced deadline driven environment

Location: Lagos

Type of Employment: Permanent

Salary: Very attractive

Expected date of resumption: Mid February 2017

Only qualified and interested candidates should send their resumes to careers@nosakgroup.com using the code as the subject of the mail. Application closes on or before Monday 31st January, 2017.

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.