LAGOS: Against the backdrop of the need to rethink business beyond financial returns and the growing global trend to grow businesses with social mission capable of solving some of life’s social problems including poverty and security challenges, the Lagos Business School (LBS) has concluded plans to hold the inaugural edition of the LBS Entrepreneurship Fair.
The fair is scheduled for July 1st at the Pan Atlantic University Ajah, Lagos campus and will witness a showcase of various profitable business ideas and investment opportunities in MBA-led entrepreneurial ventures.
Academic Director, Owner-Manager programme, Lagos Business School, Pan-Atlantic University, Henrietta Onwuegbuzie, stated that “ Going by the theme of the fair which is ‘Transforming society through profitable business’, the fair will be showcasing many of profitable businesses ideas, with the aim of attracting investors, encouraging replication and therefore accelerating social transformation and inclusive growth.
According to him, besides that, one of the objectives of the fair is to demonstrate various business ideas that can transform society.
“The fair has also become imperative in the wake of the revelation by the National Bureau of Statistics which stated that 112.59 million Nigerians, representing 69% still live in poverty. We aim to use business to create a safer society, such that terrorism and crime become unattractive.”he said
Onwuegbuzie noted that :“At LBS, we have made the perspective of business as a tool for transforming society a significant aspect of the training received by our participants, especially MBAs. Our MBAs are required to start or create profitable business models based on pressing problems observed in the society. In the last couple of years they have started businesses built around social problems and have discovered the magic of accelerated profitability, while enjoying the fulfilment of lifting others out of poverty and transforming lives.
“They have therefore transformed potential human liabilities into assets to the society through the various businesses they have started. A number of them have built businesses aimed at taking children off the streets into schools; fought malnourishment and preventable deaths by manufacturing high-nutrient low-cost powders; provided jobs for the physically challenged who supply labour needed for their businesses etc.”
