If there is something Lagos Business School that fascinates me the most, it is the fact that every day comes with its own share of expectations, its own drama and events that would stand very distinct from whatever you have had prior. This is the routine here and it is only in one’s best interest to get into the zone and align oneself to the changing landscape so you do not feel left out of the polity. This week’s events were mostly brain tasking and herculean mental gymnastics. We went on a roll with the analysis of business problems class and took on some case studies of business decisions and the intricacies involved in taking those decisions. One crucial aspect of analyzing business problems is the multiplicity of answers to just one question and the fact that every answer you procure is pragmatic enough to serve as a solution but the problem lies with how much utility you stand to gain from the pragmatism. Consequentially, one is left with a troubling mind, a sea of opinions and options but you can only be right about one. This creates a mental dilemma but work must be done and we must achieve our set out results.
Furthermore, there are no relatable scenarios than the kinds of pictures that are painted in the business cases we have to analyze. The trouble of doing business in either a macro or micro economic space, the attention to detail of a struggling pharmaceutical company, the indecisiveness of a teeming team of founders to take a good position that would either make or mar the company, the aggressive nature of government regulation, also the ineptitude of regulators as a way of inhibiting growth on a massive scale, all of these and many more constitute the daily struggles we face in our lives with regards to making life changing decisions for ourselves and also those around us whose lives are dependent on how we direct them. Not to be dismissive, I sincerely think this is the crux of our entire MBA. The mental rigidity and alertness needed to survive this course is the exact recipe needed for the more rigorous business environment.
Later in the week, we held a session on financial statements and its compositions. As much as one would want to say that business problems carry the most of the rigorous activities, knowledge of financial statements are very important to understand business problems. The analysis of the financial health of a business is what managers, advisors and executives use to diagnose business problems. So the expertise is just as equally important. There is a lot more that needs to be analyzed asides just the input and output of an organization. From a practical standpoint, we must be thorough in our analysis of these problems to bring out the exact financial standpoint of these businesses. Another interesting aspect of this sessions is the keen details to the littlest numbers, details and other features. Without a good grasp of all the issues, one would find it hard to come to good solutions.
Thank you.
DIARY OF AN LBS STUDENT: WHAT MOTHERHOOD CANNOT DO, MAY NOT EXIST