Caleb University Scholar Champions War Against Global Business Failure

The conference’s primary objective was to address and proffer solutions to the alarming rate of business failure in Africa, which ranges from three months to five years across the continent.

Caleb University‘s Deputy Vice-Chancellor on Research, Innovation, Strategy and Administration, Prof. Olalekan Usiobaifo Asikhia, has taken a bold step in championing the war against global business failure, particularly in the Small and Medium Enterprises (SMEs) sector. To this end, he rallied other international scholars in a South African conference to form a team of Ranking Business Rescue.

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The international scholars who joined the team included Prof. Naeem, Dean, School of Accounting, Finance and Economics, University of Kwazulu; Prof Rams Rajam, Professor of Accounting and Finance and Coordinator of the Business Rescue Unit, University of Kwazulu Natal, and Professor Sina Yekini, Professor of Accounting, University of Derby, United Kingdom.

The conference was tagged “International Conference on Global Business Rescue and Resilience”

During the conference, Prof. Asikhia, who is also a research professor and grant winner, presented a paper with the theme: “Business Resilience Determinants and Performance of Small Medium Enterprises..

The conference’s primary objective was to address and proffer solutions to the alarming rate of business failure in Africa, which ranges from three months to five years across the continent.

The paper, globally acclaimed for its timeliness and strategic importance, developed a lasting strategy for curbing the persistent failure of small businesses in Africa, with Nigeria as a case in point. According to Prof. Asikhia, “Organisational factors like effective proactive management skills, flexible organisational structure, marketing and environmental scanning skills must be developed to stem business failure.”

He further highlighted that the concept would not be a “one-method-solves-all” approach, considering the environmental dynamism in which businesses operate across different countries. Prof. Asikhia emphasized the need for continuous monitoring of the business environment and business operations flexibility.

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During the conference, Prof. Asikhia also chaired a session on Management and Business Resilience in Africa. He and his congregation of brightest Business Scholars also considered the need for intensive diagnostic tools and processes that will rightly identify the different degrees of ailments bedevilling different organizations.

Prof. Asikhia, a Professor of Business, Marketing and Entrepreneurship, started his academic sojourn with a Bachelor’s degree in Biochemistry-Biostatistics.

He has the towering privilege of bagging two Masters’s degrees in Economics and Business Administration, as well as two Doctoral degrees in Doctor of Business Leadership-Marketing and Strategic Management and Doctor of Philosophy-Entrepreneurial Management.