Business Management: NIM Urges Entrepreneurs to Engage Professionals

Enterprise Television- Business Management: NIM Urges Entrepreneurs to Engage Professionals

The President, Nigerian Institute of Management (NIM) Prof. Olukunle Iyanda, on Thursday advised entrepreneurs to engage professionals in managing their businesses, to ensure sustainability.

Iyanda in Lagos that if professionals were appointed to manage a business, it would outlive the capacity of the founders and becomes a legacy and also noted that many organizations failed to professionalize their management by appointing people that are not qualified into key positions.

“Many think that key managerial positions in business must be under the control of family members, without considering the interest and qualifications of persons handling such positions.

“Should anything happen to the family, or should key members of the family not be interested in such business venture, a collapse is imminent; and that should not be so.

He advised that a business owner must ensure that he goes through the basics, to learn the rudiments of the business to show that he is properly schooled and ready to manage the business organization.

Iyanda urged business proprietors to begin to view businesses as organizations larger than those created to cater for the needs of the immediate family and to maintain relevance.

The NIM chief encouraged entrepreneurs to incorporate their businesses to ensure longevity when the businesses exceed the capacity of the owners.

“The mindset of every business proprietor should be one of growth and expansion beyond his own scope, but within the objectives and vision of the business.

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