Strategy and Sustainability in Uncertain Contexts

Most of us have been in a situation where we do not know the right step or decision to make at a point in time. Should I go with option A or B or C? how am I sure that option A would fetch the necessary profit I need? What if option B is better? How do I fund option C if option B goes wrong? These are the questions we have asked ourselves at a certain point in our lives. These are uncertainties about our business decisions which we face in our everyday lives.

Uncertainty is a state of doubt about the future or about the right step to take or decision to make at a point in time. The plan of action designed to achieve a goal or decision is referred to us Strategy while Sustainability is the capacity to maintain or improve the state or condition over the long term. In this space, we will discuss the steps to take when you are face with uncertainty, the action plans to follow to achieve your goal and the measures to take to sustain the business using the case ‘Slamdex Stores’ as a case study.

The Adebayos a very successful supermarket in Festac town at the time, with revenues hitting as much as N250, 000 per day during the peak periods of 1994. When the Adebayos began their retail business in 1991, Festac town still reflected in considerable measure, its original master plan where the location of everything from supermarkets, drugstores, banks, hospitals, fire and police stations were clearly designated.

 Ifedayo attributed the eventual death of the business in 2003 to problems with the management of Festac town, particularly laxity in policy enforcement by the Federal Housing Authority (FHA), responsible for the development and maintenance of Festac town. Among the fall outs of this laxity was a massive influx of supermarkets and several clusters of small ‘provision’ stores located indiscriminately around Festac town. These posed intense challenge to Slamdex’s competitiveness and contributed significantly to its eventual death.

 Subsequently, Ifedayo and her husband left Nigeria for the United States of America in search of ‘greener pastures’. In 2012, Ifedayo returned to Nigeria alone, nursing the dream of a Slamdex rebirth. Nothing had change – competition was still as intense, and there was little or no sign of federal government presence. Dayo had to choices to make; to start up Slamdex again in Festac town with #3,000,000 the only funds she has at that moment or to continue to let out the store space as she had since the business folded in 2003 whilst she opens a store at Ajegunle.

##To be continued

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