MY JOURNEY INTO LAGOS BUSINESS SCHOOL

Amazingly, I decided to go back to school again after dropping pen seventeen teen years ago. Although after my first degree, I have had cause to attend series of trainings and certificate courses home and abroad as an employee but now as an entrepreneur (who is into automobile; sales, services and repairs, hospitality; hotel and short-stay apartment, and telecommunication infrastructure) I desire cutting edge knowledge that would make me more relevant, efficient and fulfilled in my chain of businesses. I had wanted to go to an ivy league school outside the shores of Nigeria but considering the line of my businesses and the fact that we are still growing, Lagos Business School (LBS) came highly recommended especially because of the hybrid study system and proximity.

Fortunately, I was offered an admission in the last batch of the Modular Executive Master of Business Administration (MEMBA) this year, after thorough screening sessions which comprise of written test and oral interview amongst other criteria. Interestingly, the MEMBA program commenced during summer with online classes while I was on family vacation in Florida. I had to struggle to attend classes as I battled not to miss the integral part of the vacation which my kids see as family ritual that mustn’t be carried over. In the midst of merriment and holiday excitement, I received an email from the LBS Program Coordinator, notifying me of the Intensive Week Timetable. Straightaway, I decided to be present in class physically during the Intensive Week (although it is optional, I can choose to attend virtually).

I arrived at LBS for the very first time about 9am on the first day of the first intensive week enthusiastic and as I was driving into the serene and clean premises which is very much unlike my rough experience from Muritala Mohammed Airport to LBS gate, I was not only impressed but elated about my choice of LBS and very optimistic that I was in for great adventure. I walked straight into the building and didn’t struggle to locate my class. The very first two sessions were for Corporate Financial Accounting (CFA) which was facilitated by a gentleman who averred that he has been teaching in LBS in the last thirty years of his career. In spite of that fact that it was the first time in my entire life that I would in accounting class, I fell in love with the course and there was no dull moment at all through the sessions. Indeed, I attested to the fact the LBS has carefully selected seasoned, well-informed professionals as course facilitators. This lecturer” knew his onions”, and in simplified way he carried along every student irrespective of our different backgrounds and knowledge of accounting to the point that I was always looking forward to the next class.

At the end of the intensive week, I was surprised at how much knowledge I have acquired in CFA class. We examined annual report of few companies. Prior to my LBS experience, when I laid my hands on any company annual report I couldn’t interpret or understand the financial statements, all I used to do was to read speeches, glance through pages with figures and admire good graphics designs. But now, as a Chief Executive Officer and financial analyst (in the making), I have basic understanding of financial statements in annual reports; statement of profit or loss, statement of financial position, statement of changes in equity and statement of cashflows. I also have in-depth knowledge of the basic elements and key terms of CFA and the arithmetic behind them. In addition, I have come to

understood that liquidity isn’t profitability. I have begun to apply this knowledge into my personal business and making amendments where necessary. Amongst other things, I have been able to reduce drastically operational expenses having known the true statement of financial position of my companies.

Ayotunde Olayiwola