Stats: 3,190,635 members, 7,941,455 topics. Date: Friday, 06 September 2024 at 07:28 AM |
Nairaland Forum / Nairaland / General / Education / Lifecycle Thinking In Life And Business (279 Views)
Lagos PWC Chesss4change Grand Slam For Developing Strategic Thinking In Students / I Am Finished. Bet9ja Virtual Has Ruined My Education,my Life And My Soul. HELP! / Chris Imafidon: Autism Didn't Stop Me From Making It In Life (2) (3) (4)
(1) (Reply)
Lifecycle Thinking In Life And Business by anonymousey: 5:08pm On Apr 20, 2017 |
Lifecycle Thinking in business and life Many times in trying to solve a problem, answer a question or design a product, service or business, I like to think a particular way that has helped me to arrange my thoughts better. I call it Lifecycle Thinking. A butterfly starts its life as an egg then larva, pupa and finally becomes an adult butterfly. There’s a process involved. Things don’t just happen. One thing leads to the other. Let’s put this into real life situations. I spoke to a friend a while ago about starting a business. He grew up near a farming community and still had contacts there so I asked if there are things we buy in the city that they produce there so we can buy, transport, sell and then split the profit. It sounded like a good idea, at least for a while. The problem was that suddenly there was scarcity of this commodity and the unit cost became more than we could afford at the time. So I began to ask questions. Q: Where do we buy palm oil from? A: The market Q: Where do the market sellers buy from? A: From people bring from the village Q: Where do these ones get it from? A: They buy from farmers and then take it to the oil mill to be refined So why don’t we do the same? Why don’t we buy from farmers, refine and then take it straight to the city for sale thereby cutting out all these middlemen, reducing the cost of purchasing and maximizing profit. He had been aware of the process but never thought about it this way. Farmer-Miller-Middleman-Market seller-US-City Market sellers-City dwellers Became: Farmer-US-Miller-US-Market Sellers-City dwellers This thinking can be used to solve many other problems. What do you think? Suggest a problem and let’s attempt to solve it using lifecycle thinking. 1 Like 1 Share |
(1) (Reply)
The Problems Of Staff Recruitment And Training And The Impact On Productivity / UTME: JAMB Urges Candidates To Crosscheck Data Before Midnight Saturday / Education Minister Urges New Board Of Tertiary Institutions To Monitor Budget...
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 8 |