Two months into the program, the Slamdex case still stands out for me after reading and analyzing not less than 10 business cases in our Analysis of Business Problems class at the Lagos Business School. Aside from the fact that the case was enlightening, challenging, and thought-provoking, this was a case with a local appeal, which made it all the more relatable to me.
The case involved a very successful supermarket in Festac Town, Lagos, that had experienced a decline in customer patronage and revenue due to its inability to adapt to the changing environment as a result of government policy and increased competition, coupled with a largely inexperienced management. After years of declining revenue and reduced patronage, the supermarket finally closed shop, and Dayo, it’s owner, relocated abroad. Years after and still nursing the thought of restarting a lucrative business like Slamdex, she needed our help to decide which alternative was best among three business options. Our class was divided into groups, and each group was given the case to analyze and present a solution to the problem.
Through the case analysis, we were able to apply the decision-making process we had learned in class to the case. We learned the importance of identifying the cause of a problem before attempting to solve it. In the Slamdex case, we discovered that the decline in sales was due to several factors, including changes in consumer preferences, increased competition, and ineffective management strategies.
Before we could arrive at a decision, we had to first understand the context, frame the problem properly, and identify Dayo’s objective. Next, we needed to identify all the alternatives available to Dayo and assess all of them based on a set of criteria. We had to consider factors such as what business she should start, how much financing is required, and who should run the business considering her lack of managerial skill.
Working in a group allowed us to collaborate and share ideas, which was essential in coming up with a comprehensive solution to the problem. It was also a great opportunity to learn from my peers and gain insights into how different individuals approached problem-solving.
The Slamdex case included lessons on the value of strong communication and presentation skills in addition to finding a resolution to a business issue. We were required to defend our ideas and offer our answers to the class. Although difficult, it gave us more confidence in our capacity to persuade others of the validity of our arguments.
Overall, I found that the Slamdex case provided a great opportunity to put the business theories we had studied in class into practice. It was a wonderful chance for me to collaborate with others and gain knowledge from my colleagues. The value of good problem-solving, communication, and presentation abilities in the business world became clearer to me.
The case also provided me with other useful learning opportunities such as the value of finding a problem’s fundamental cause, cooperating as a team, and effectively communicating our thoughts. I think the knowledge I gained from this case will serve me well throughout my career and enable me to approach challenging business issues with assurance and competence.
Sudden death! Was this caused by the “Village people”?