Like life itself, nothing stays permanent. Same theory goes for business too. Since the 2007 economic downturn, we have seen companies profit nose dive or disappear. Big and small businesses alike were not spared at all. We have heard and seen the reports of strong and weak banks. We are also witnesses to the rapid loss of relevance of the CDMA telecommunication companies due to the unfair competitive advantage the Gsm companies have over them. Even these big Gsm companies have also reported a drop in their profits. On and on the same tale goes on everywhere. It is time struggling businesses come down from their high horse and discuss how to consolidate with their peers in order to face the economic storm with more weight and resources. Otherwise they could just be counting their last days.Saturday, September 11, 2010
Need for Struggling Nigerian Businesses to Consolidate
Like life itself, nothing stays permanent. Same theory goes for business too. Since the 2007 economic downturn, we have seen companies profit nose dive or disappear. Big and small businesses alike were not spared at all. We have heard and seen the reports of strong and weak banks. We are also witnesses to the rapid loss of relevance of the CDMA telecommunication companies due to the unfair competitive advantage the Gsm companies have over them. Even these big Gsm companies have also reported a drop in their profits. On and on the same tale goes on everywhere. It is time struggling businesses come down from their high horse and discuss how to consolidate with their peers in order to face the economic storm with more weight and resources. Otherwise they could just be counting their last days.
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