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STRATEGIC THEORIES UNDER INTERNAL ANALYSIS

There are basically 3 sphere of analysis in Business Strategy, viz Internal analysis, external analysis and competitive force analysis. For detail reading on internal, external and competitive force analysis.

See https://www.amazon.com/dp/B07Z6PQBMF  .

As promised in the last publication I will be concentrating on Strategic theories under internal analysis and how far has MSMEs in Nigeria implemented this theories for their growth or otherwise in this publication.

Some notable terms:

Strategic Capability

Critical Success Factor

Read up the explanations of the terms in the book.

See https://www.amazon.com/dp/B07Z6PQBMF  .

The specific theories under internal analysis to review for this publication are:

  • SWOT Analysis
  • Porter’s Generic Value Chain

But will only review the SWOT Analysis in this publication.

Read up the explanations of the theories in the book.

See https://www.amazon.com/dp/B07Z6PQBMF

But before that you can get a FREE INTRO COPY on https://www.rops.com.ng/SRGE/Freebees

Now, lets do an appraisal of the SWOT Analysis and the MSMEs.

SWOT Analysis and MSMEs in Nigeria

The SWOT Analysis  is the simplest and most popular strategic theory not only in Nigeria but also globally. It was actually created by Albert Humphrey of Standford University, California, United State of America  in the 1960s.

It is made up of the four  simple acronym of S – Strengths, W – Weaknesses, O – Opportunities and T- Threats.  It is also known in reciprocal as TOWS. Whether as SWOT or TOWS, it is an old theory but still very relevant to MSMEs and any level of business enterprise because of its simplicity of implementation.

But the challenges really lies in the Proprietor of the MSMEs concerned. Some of the factors that shapes the personality of Proprietor of SMEs, the understanding and implementation of the SWOT Analysis:

  • Literacy and level of academic/professional knowledge
  • Place of Business activity
  • Government regulations and policies
  • Family/tribal and religious background
  • Level of Capitalization at the point of commencement of business
  • The specific business sector or line of business
  • No or level of previous business experience at the point of business initiation.
  • Gender peculiarities and age brackets

Considering the Nigerian business environment, we can group MSMEs into 5:

  • MSMEs Proprietor who has no western education at all. They are predominantly farmers, herders, petty traders and artisans.
  • MSMEs Proprietor who has the old Modern 3 or SL75, School Certificate and NABTEB.
  • MSMEs Proprietor who has National Diploma (ND)/National Certificate of Education (NCE) or equivalents. These are semi graduates.
  • MSMEs Proprietor who has Higher National Diploma (HND), Bachelor of Science and above without business experience.
  • MSMEs Proprietor with any level of education but with cognate business experience.

The SWOT Analysis can be done at different times in the life of a business which may include the following:

  • Towards the commencement of a new business
  • When seeking loan or equity for a new business
  • When seeking loan or equity to finance specific growth level of the business.
  • When seeking partnership with another professional in the same business sector.
  • When a business is seeking merger with another business
  • When a business is being bided for acquisition by another business.

To appreciate the SWOT Analysis. Please get your COPY of the book. See https://www.amazon.com/dp/B07Z6PQBMF  .

The SWOT or TOWS Review

Each of the acronym does and cannot have a specific definition and interpretation across the peculiarities of all types of proprietors of MSMEs. This has to do with the law of relativity and human differences. For example an illiterate or semi-literate trader or business person does not take the registration of his or her business as strength because we met an order where our fathers are and were traders and farmers, and some even became big time businessmen and women without business name registration, rather they see it as a weakness as it  exposes the business to the government unduly for tax and other regulatory purposes which they are not ready to comply with. This is accentuated by their lack of trust in the government and its past years of irresponsibility.

Also because they are not aware of the principle of separation of entity that, ‘’the entrepreneur or owner of a business is not the same as the business’’ as such opening of bank account(s) for the business in their personal name(s) is improper.

For the literate or elite business owners, the registration of the business is seen as a good strength as the registration will assist opening of bank account which puts the business on a pedestral for any opportunity at home or abroad. There is also the instinct that there may be need for finance at any point in the life of the business and the bank can be there for the business. Though they are aware that it exposes the business to government taxations and regulations but very convinced that they will manage through to still be able to derive the greater benefits accruable with business registration.

Conclusion

The SWOT Analysis remains the most popular and used strategic theory because of its simplicity, flexibility and relativity. Almost, if not all MSMEs uses SWOT Analysis, with the difference in implementation affected by the peculiarity of the Proprietor or management.

The more literate or educated an MSME Proprietor is, the more formal and articulated he/she implements SWOT Analysis,  otherwise it is implemented informally.

Contemporally, it is now always part of simple business plan or feasibility studies done for MSMEs in the quest for financing from f Why not order for your copy for more reading.

Please go get your copy of the book  on But before that you can get a FREE INTRO COPY on https://www.rops.com.ng/SRGE/Freebees

The Price is:

$8 ONLY for the E-book

$24 ONLY for the Hardcover

But a SPECIAL NEW YEAR PROMO is on which entitles you to a 50% Discount.

GRAB the E-Book for $4 ONLYNOW.

And the Hardcover for $12 ONLYNOW on:

Olaoye Rafiu A  

CEO, ROPS GLOBAL

Tel: 07088493628

Wsp: 08116706571

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OUR CORPORATE SERVICES

 

 

As an accredited agent of the Corporate Affairs Commission we undertake:

Companies incorporation, Business name registration, NGO or Incorporated Trustees etc
Annual Returns Filing to CAC
Trade Marks, Royalties, Licenses etc.

Contact:

CEO, ROPS GLOBAL
Tel: 07088493628
Wsp: 08116706571
Email: ola.rafiu.abiola@gmail.com
Website: https://www.rops.com.ng

 

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NATURE AND SCOPE OF BUSINESS STRATEGY

This is the second topic in our serial on Strategy. I had mentioned earlier that we will limit our concern to Business Strategy for now.
But since the book https://www.amazon.com/dp/B07Z6PQBMF has already explained to reasonable extent a lot of theories on Business Strategy. My specific concern with this serial especially after this topic is to take us on practical journey on micro, small and medium scale businesses in Nigeria and if the theories are really relevant to our environment and if YES, how far are they being implemented, suggesting areas of improvements and why some are not or may never be practicable.

About the author:
http://amazon.com/author/olaoyerafiu

What then is Business Strategy?
The word ‘Strategy’ is coined from the Greek word ‘Strategia’ used in Military Science to mean ‘all comprehensive plans and tactics deployed in distinguishing battles within wars and prosecuting those battles, leading to the ultimate defeat of the enemy and eventual victory at the wars.

Strategy has now been imported into management or business after the Second World War (1945). Some of the early management writers on Strategy are Chandler, Drucker, Johnson, Scholes and Wittington etc.

Levels of Business Strategy?
There are three levels of Strategy:
– Corporate Strategy: This has to do with making business decisions and visioning objective.
– Competitive Strategy: This has to do with how each business competes at the market place or in a given industry and thereby contributes to its Organizational objective.
– Functional Strategy: This has to do with the different functions or functional areas that are c-ordinated and integrated to support the Competitive or Business Strategy leading to the ultimate achievement of the Corporate Strategy.

Elements of Corporate Strategy
– Deciding the vision and mission of the entity.
– Deciding the entity’s business or products portfolio
– Matching the entity’s businesses to available resources and external realities.
– Matching the entity’s vision and mission to shareholder’s expectation
– Matching the entity’s vision and mission to other stakeholders’ expectation.

Why not order for your copy for more reading.

But before that you can get a FREE INTRO COPY on https://www.rops.com.ng/SRGE/Freebees

The Price is:
$8 ONLY for the E-book
$24 ONLY for the Hardcover
But a SPECIAL NEW YEAR PROMO is on which entitles you to a 50% Discount.

GRAB the E-Book for $4 ONLYNOW.
And the Hardcover for $12 ONLYNOW on:

Olaoye Rafiu A
CEO, ROPS GLOBAL
Tel: 07088493628
Wsp: 08116706571
Email: rafiu.olaoye@rops.com.ng
Website: https://www.rops.com.ng

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INDUSTRIAL LOANS WITH EASE

Are U a BUSINESS OWNER?
Or U run an EXISTING BUSINESS?
Or U have a GREAT BUSINESS IDEA?
That can INDUSTRIALIZE ur community or any part of NIGERIA?
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STRATEGY – A real concept or a confused terminology

The word or the term ‘’Strategy’’ is being used by a lot of people at different times for different purposes and in different situations.

Do the ordinary user of the word really understand the concept?

From observation and unorganized research, different professionals and non-professionals have been using the word indiscriminately or loosely for any perceived steps taken or to be taken on an activity towards the achievement of a specific goal or target. For example, a Sales representative or marketer referring to all his activities at achieving a N10million monthly sales target as his ‘Sales Strategy’.  Also, a Football Club Coach defeating his opponent in a Football Match referring to his efforts as ‘Match Winning Strategy’.

About the author:

http://amazon.com/author/olaoyerafiu

But Strategy is a real concept that usually has a long-time focus with sub-component activities deployed consistently towards achieving a specific goal or focus. It has its origin from the military, which I will explain later. Whether as a real concept or in its loose or confused form it has been applied to numerous areas of human endeavor. Thus we have numerous types of Strategy which includes the following::

  • Marketing and or Sales Strategy
  • Spiritual Strategy
  • Political Strategy
  • Military Strategy
  • Sports Strategy
  • Diplomatic Strategy
  • Foreign Affairs Strategy
  • Entertainment Strategy
  • Educational Strategy
  • Electioneering/Campaign Strategy
  • Cultural Strategy
  • Business Strategy etc.

The list can continue to as many tasks or activities as humans are involved in but this serials will be on ‘’Business Strategy’’ using my book –  ‘’Strategy, Risks, Governance and Ethics at a Glance ‘’ as guide.

ORDER FOR YOUR COPY ON:

What then is Business Strategy?

The word ‘Strategy’ is coined from the Greek word ‘Strategia’ used in Military Science to mean ‘all comprehensive plans and tactics deployed in distinguishing battles within wars and prosecuting those battles, leading to the ultimate defeat of the enemy and eventual victory at the wars.

Strategy has now been imported into management or business after the Second World War (1945). Some of the early management writers  on Strategy are Chandler, Drucker, Johnson, Scholes and Wittington etc.

Why not order for your copy for more reading.

But before that you can get a FREE INTRO COPY on https://www.rops.com.ng/SRGE/Freebees

The Price is:

$8 ONLY for the E-book

$24 ONLY for the Hardcover

But a SPECIAL NEW YEAR PROMO is on which entitles you to a 50% Discount.

GRAB the E-Book for $4 ONLYNOW.

And the Hardcover for $12 ONLYNOW on:

Olaoye Rafiu A  

CEO, ROPS GLOBAL

Tel: 07088493628

Wsp: 08116706571

Email: rafiu.olaoye@rops.com.ng

Website: https://www.rops.com.ng

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WHY CONTEMPORAL FINANCIAL PROGRAMME?

Financial
Programmes are abound already, or do I say we are already accustomed to
financial programmes.

What are Financial Programmes?

Financial
Programmes can be said to comprise of allexisting  or current workshops and seminars that
revolves around finance and accounting. In summary, Finance deals with the
acquisition and utilisation of funds for the day to day operations of any
organisation, be it business or otherwise. While Accounting
refers to the recording of all transactions involved in the acquisition and
utilisation of the aforementioned funds for the running of the operations of
any organisation for business or otherwise, reporting to management, regulators
and other stakeholders, through audit to justify the effective utilisation of
the funds acquired.

Examples of Financial Programmes

The list
of workshops or seminars that comes under this heading are inexhaustible, but
to mention a few, they include:

  • Finance
    for Non-finance executives
  • Stores
    and Inventory management
  • Basic
    Accounting and Finance Course for Marketers
  • Financial
    Intelligence for Managers
  • Risk-based
    Approach to Auditing etc.

Contemporal Financial Programme?

In the
last 5 – 10years the global economy took new dimensions and is still undergoing
continuous changes affecting businesses so greatly that new methods and
processes are being deployed in the implementation of hitherto known
conventional business processes or operations and the body of skills and
knowledge components of finance continuously needing review and upgrade. Hence,
this programme series is being packaged and scheduled to address some of these
challenges.

https://youtu.be/2Lr8RFZVeWE

www.rops.com.ng

Register
at https://rops.com.ng

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