Over the last six months, reports on employees’
turnover in most businesses around the world have been quite alarming. Figures
from the hospitability and service sector of the United States of America have
been particularly overwhelming. According to the US Labour Department, about 4
million people quit their jobs in April alone, and about 1 million of these
people worked in the leisure and hospitality industry which include jobs in hotels, restaurants, theme parks and entertainment venues. Since April, more
than 19 Million US workers have turned in their resignation, and this is still
counting, noted in a McKinsey quarterly
report on the great attrition and attraction.
Recently, fast-foods and grocery stores in the US are folding up in disturbing frequency due to labour scarcity; McDonald says it is open to stepping up
The Paradigm is Shifting. Humanity’s value system and work ethics are changing with the growing innovations in the digital-data space. The Covid-19 Pandemic came with eye-opening experiences suggesting how businesses and the global economy will be shaped by digital ingenuity for years to come. Hence, the scope and relevance of the digital-data ecosystem is fast transcending the Information Communication Technology sector to other spheres like Agriculture, Health, Trade and Commerce, Education and Government etc. According to a McKinsey report cited in the Harvard Business Review, data-driven application of artificial intelligence will generate 13 Trillion US Dollars in new global economic activity by 2030, possibly determining the next world order much like oil production had determined economi
The Covid-19 pandemic and the ensuing disruption in the global
supply chain, consumer price inflation, as well as the new health and security policies, have created a lot of market frictions and opportunities for
stakeholders in the agritech industry.
The pandemic came with a lot of epiphanies and eye-opening
experiences suggesting how businesses and the future global economy will be
shaped by more than digital ingenuity. There is also a need to avoid culture
lag by enhancing a corresponding adjustment in culture and attitude towards
work. Hence, Stakeholders in Africa’s agritech industry are expected to seek
the broader perspective in navigating barriers and exploring opportunities in the
new normal.
According to a recent McKinsey report on how leaders can adapt to a very different future, five action points are suggested for well-meaning entrepreneurs and business leaders in the post-covid-19 economy. First is that
Snail is a member of the mollusk family popularly
known for its dietary and nutritional value but is also a source of raw
materials to the non-food industries, particularly the cosmetic, construction
and pharmaceuticals. Heliculture, the practice of rearing snails for direct consumption
and commercial purposes is commonest in Europe and some parts of the Mediterranean
region. In 2014, the cumulative global consumption of snails was estimated
at 450,000 Metric Tons with a market
value of 12 Billion US Dollars per
annum. About 15 percent of the total snails consumed globally are collected
from the snail breeding units and the remaining 85 percent are collected from
nature in poor countries where hunting and animal picking are common. Countries
such as Spain, Morocco, China, France, and Italy have the highest per capita consumption
of snails.
Not a few business owners give precedence to cash
flow in the day-to-day operations of their businesses. This is understandably
so, especially given the popular notion that businesses are out to make money
and keep an impressive financial record. But is cash flow all there is about
building a sustainable and enduring brand?
A report by Small Business Administration cited in investopedia.com shows that 20 percent of
small businesses fail in the first year, 50 percent fold up after five years
and 67 percent find it difficult to persist further than the first 10
years. According to the report, the most
common reasons start-ups fail are lack of funding, inability to retain talents
and build a strong management team, a faulty business model, unsuccessful
marketing initiatives, etc. From the foregoing, it is clear that cash flow is
just one out of several reasons a business can survive the test of time.