In a recent hybrid meeting at the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) headquarters, the Nigerian Institute of Management (NIM) has affirmed its commitment to fortifying its collaboration with SMEDAN.
The president of NIM, Christiana Atako, shared insights into the institute’s strategic plan to enhance human capital development, focusing on the sustainability of micro, small, and medium enterprises (MSMEs).
NIM and SMEDAN Partnership for Human Capital Development
Ms. Atako emphasized that the intensified partnership aims to boost human capital development, a key driver for the endurance of MSMEs.
The meeting served as a platform to delineate the continued training initiatives initiated by NIM and SMEDAN in 2023.
Ms. Atako encouraged SMEDAN to maintain its pivotal role as the advocate for MSMEs and bridge between these enterprises and the federal government.
Stakeholders’ Summit for Management Imperatives
Proposing a strategic move, the NIM president urged both organizations to organize a stakeholders’ summit focusing on management imperatives crucial for the sustainability of SMEs.
The envisioned summit aims to address the common issue of SMEs faltering after five years, primarily due to inadequate management practices.
“As a chief executive valuing capacity building and professional management training, I am convinced that you will uphold the spirit and letters of the training arrangement, even if it did not commence under your leadership,” remarked Ms. Atako.
SMEDAN’s Positive Response
Charles Obi, the director-general of SMEDAN, lauded NIM’s impact on the agency’s staff through training in 2023, citing a noticeable increase in productivity.
Represented by agency director Daberuje Lawani, Mr. Obi assured the continuation of effective discharge of duties by SMEDAN.
Frequently Asked Questions (FAQs)
How will the partnership between NIM and SMEDAN benefit MSMEs?
The partnership aims to enhance human capital development, fostering the longevity of micro, small, and medium enterprises.
Why is there a need for a stakeholders’ summit?
The summit will address the crucial issue of poor management leading to the short lifespan of SMEs, often failing after five years.
How has NIM’s training impacted SMEDAN?
According to SMEDAN’s director-general, NIM’s training in 2023 positively influenced the productivity of the agency’s staff.
What is the primary role of SMEDAN in relation to MSMEs?
SMEDAN serves as the voice of MSMEs and acts as an intermediary between these enterprises and the federal government.
What is the focus of the proposed stakeholders’ summit?
The summit will concentrate on management imperatives necessary for the sustainability of SMEs, addressing the common challenges faced by these enterprises.
How does NIM perceive the importance of capacity building and professional management training?
NIM’s president values capacity building and professional management training as crucial elements for the success and endurance of organizations.
In Conclusion
The collaboration between NIM and SMEDAN stands as a beacon for the upliftment of MSMEs, emphasizing the significance of human capital development and effective management practices.
The proposed stakeholders’ summit adds another layer of strategic planning, aiming to tackle challenges head-on and ensure the sustained growth of SMEs in Nigeria.
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