198 Nigeria News

Tag: joint ventures in nigeria

  • Nigerian Online Scams Hurt International Business and Investment in the Country

    Nigerian Online Scams Hurt International Business and Investment in the Country

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    Every emerging third-world nation needs help in getting their products to world markets. They also need investment capitalization dollars coming into the nation so they can increase their business endeavors and grow their economies. Indeed, there are huge risk issues when investing in foreign emerging markets, but there is also the potential for huge rewards and profit too. One nation on the World Map of emerging nations is Nigeria. It is an oil rich country and has a lot going for it.

    Nigeria also has a bad stigma due to the email scams and international banking wire transfer fraud coming from criminal elements from within their nation. What is so unfortunate is that many business people in the United States and elsewhere have been introduced to the nation of Nigeria through these emails fraud phishing scams. Now, it is very unlikely that US Businesses will be willing to invest in Nigeria or take on Nigerian Business Partners.

    Therefore, the country of Nigeria has developed a horrible reputation in the world and this is going to affect their future growth. Trust is critical when working with overseas business vendors or partners, without it the business investment monetary flows slow to a trickle and this hurts the future potential. One question on many people’s minds in considering this issue is: Will Nigerian economic development and Public Relations Teams be able to mind the fence and restore faith and trust in that country?

    Would you trust someone from Nigeria as a vendor for your company? Would you trust someone who told you they were a Nigeria Official that wanted to offer you an investment opportunity? Think about that, see the problem there?

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    Source by Lance Winslow

  • Prerequisites for Privatization to Succeed!

    Prerequisites for Privatization to Succeed!

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    Privatisation that has gathered momentum since around the 1980’s has become the hallmark of the new wave of economic reforms sweeping across the world. It refers to the transfer of ownership or management of an enterprise from the hands of the public sector to private sector. It also means the withdrawal of the state from an industry or sector, partially or fully. Privatisation marks a change from dogmatism to pragmatism and amounts to a reversal of policy. It is evident that the economic growth rate has multiplied ever since privatization has come into existence.

    The performance of state owned enterprises in many countries have, by and large been far from satisfactory. This may be attributed to the prevalence of bureaucracy and red tapism in most of the public sector administration. They have often put large burdens on public budgets and external debt. Economic inefficiencies in the production activities with high costs of production, inability to innovate and costly delays in delivery of the goods produced are some of the shortcomings of the public sector. There is also ineffectiveness in the provision of goods and services such as failure to meet intended objectives, diversion of benefits to elite groups, and political interference in the management of enterprises. The relationship between the management and the labor unions is strained owing to the expansion of bureaucracy.

    These problems have led many governments to undertake programmes of public sector reform. One Such reform is privatization of publicly managed activities to discard the inefficiencies and improve the economic growth rate. For privatization to succeed:

    • Privatisation cannot be sustained unless the political leadership is committed to and unless it reflects a shift in the preferences of the public arising out of dissatisfaction with the performance of other alternatives. Now-a-days, private sector enterprises have started dominating even core industries like petroleum, power and communication, under the leadership of visionaries who may be the heads of the states or owners of such private organizations.
    • Public services to be provided by the private sector must be specific or have a measurable outcome.
    • Consumers should be able to link the benefits they receive from a service to the costs they pay for it. Since they will then shop more wisely for different services.
    • Privately provided services should be less susceptible to fraud than government services if they are to be effective.
    • Equity is an important consideration.

    Privatising the state owned enterprises reduces corruption and the benefit goes to the society. The process encourages entrepreneurship and leads to intense development of capital market. Governments usually want to sell the least profitable enterprises, those that the private sector is not willing to buy at a price acceptable to the Government. The Government may even fear that if it gives a free rein to the private sector management, its power might be at stakes. All said and done most of the governments view privatization as an important strategy of economic rejuvenation.

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    Source by Shyamala Sankaranarayanan

  • 7 Steps to Becoming A Network Marketing Professional by Eric Worre, A Book Review

    7 Steps to Becoming A Network Marketing Professional by Eric Worre, A Book Review

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    To truly believe network marketing is better than a traditional job you have to understand the state of today’s economy. He makes his point about this referencing to how new technologies have taken jobs off the market. Once highly valued in yesterdays economy jobs and college educations where the only clear way to success. But not anymore. Today network marketing has proven otherwise.

    More companies are going to the MLM approach to get their product out when fifteen years ago the choice would have been to create a string of store fronts. What corporations in the past spent on building stores, creating commercials on television, print ads now rather give to distributors instead. Eric emphasizes that jobs are not all coming back and one of the only ways to financial freedom for the average person is with network marketing.

    Once this reality is understood he then moves on to label every network marketer into three categories. The first being a poser, then a amateur and a professional. He goes on to explain how many who think of themselves as professionals are actually amateurs or even posers. He explains this by the way they go about with their recruiting efforts and verbage. Just like anything else there is a right way and a wrong way to do things.

    His point is that if you are going to get into network marketing you must decide to Go Pro not just try it and never make the effort to hone your skills. Enthusiasm is important but not knowing how to approach, respond and close professionally in a way that today’s society is more open to will break your business. Old methods of recruiting simply are not effective anymore.

    Eric continues on to share his skills on effectively prospecting in a way that gets people to want to hear from you. The skills are finding prospects, inviting Prospects to Understand Your Product or Opportunity, Presenting Your Product or Opportunity to Your Prospects, Following Up With Your Prospects, Helping Your Prospects Become Customers or Distributors, Helping Your New Distributor Get Started Right and Promoting Events. He outlines also his direct and indirect approach to grabbing the attention of everyday people and then determining if they are fit to be a network marketer.

    Though I barely scratched the surface on the detail in this book. If you are serious about not getting out of touch with today’s network marketing methods then you need to read this book. I give this book a thumbs up and a must read for every entrepreneur looking to either refresh their skills.

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    Source by Lupe Estrada Jr