Lagos Business School (LBS) has again been ranked by Financial Times (FT) as one of the top global business schools making it the 12th consecutive year of appearing on the ranking list.
Published today in London, the Financial Times' Executive Education 2018 list has LBS ranked in the open enrolment and custom executive education categories alongside the most prestigious business schools across the globe.
According to the list, LBS now holds the second position in custom executive education and third position in open enrolment executive education providers in Africa. LBS is the only African institution outside South Africa to make it to FT's list.
In her remarks, Dean of LBS, Dr Enase Okonedo expressed that the School aims to consistently provide the quality of education that has earned it a place on the reputable list these past 12 years. "Our vision is to be the business school with the greatest impact on the knowledge and practice of management in Africa and our continued appearance on the FT ranking list validates our efforts so far."
Lagos Business School is accredited by the Association to Advance Collegiate School of Business (AACSB) and the Association of MBAs(AMBA). The CEO Magazine also ranks Lagos Business School MBA programmes making it the first and currently, the only business school in Africa to appear on the ranking.
The Financial Times of London publishes annually a list of the best management programmes from business schools around the world, based on the quality of learning, staff and student diversity, growth in business and international reach.
Other top business schools on the list are IESE Business School, Harvard Business School, and University of Oxford: Saïd.
Founder/CEO, Dangote Group, Aliko Dangote has admonished participants at Lagos Business School (LBS) to refrain from embarking on business ventures they have no thorough knowledge of. Dangote shared this insight during a presentation he delivered at the School auditorium on Wednesday, May 10, 2018.
The visit is part of experiential learning activities organised by LBS to expose participants to firsthand knowledge from successful entrepreneurs that can inspire them to scale their businesses and contribute to transforming the Nigerian economy.
Earlier in the day, participants went on a bus tour of the refinery and petrochemical plant situated on 2,535 hectares of land at the Lekki-Epe Free Trade Zone. They were taken through several parts of the facility by construction supervisors who shared details of the work going on at the plant.
Dangote who has just been named one of the 75 Most Powerful People on the planet said of the refinery, "When construction work is done, and the refinery is ready, Nigeria will become the largest exporter of petrochemical, even bigger than South Africa". On why his company is so successful, Dangote advised the participants on some of the strategies that have been adopted over time. He told them to identify sweet spots by creating businesses that provide basic needs, diversifying, efficiently executing and investing even in an economic downturn.
Academic Director of the Owner Manager Programme (OMP) at LBS, Dr Henrietta Onwuegbuzie who facilitated the visit said, "The objective of today's programme is to expose participants to inspiring activities that can help them feel they can make a difference in the country and I think we have achieved this considering these participants have expressed awe and admiration for all they witnessed today."
One of the highlights of the visit was during the Question and Answer session when MEMBA 6 participant, Oluwatobi Ajayi, who recently appeared on Forbes 30 Most Promising Entrepreneurs list, secured a private meeting with Dangote to discuss the possibilities of setting up a car assembly plant in Nigeria.
Ajayi said of the experience, "I came here today with high expectations but securing a meeting with the richest man in Africa has completely exceeded my wildest imaginations, and I must thank LBS for making this possible."
The visit ended with cheers from participants as Dangote invited them to a tour of his jetty on a later date.
The 2018 edition of the annual Babatunde-Anjous Entrepreneurship Day hosted by Lagos Business School (LBS) in collaboration with Sir (Chief) Babatunde Anjous Foundation held on Wednesday, May 2, 2018.
Held in memory of Sir Babatunde Anjous, the one-day seminar was aimed at creating an avenue to educate young business owners and encourage their entrepreneurial spirit while also providing opportunities and solutions to challenges they may face.
Themed 'Youth Entrepreneurship: Getting it right', participants were exposed to a 4-module teaching that touched on topics ranging from The Entrepreneurial Process to an Introduction to Finance which were all facilitated by the Head, Entrepreneurship Unit at LBS, Dr Henrietta Onwuegbuzie.
Speaking on the purpose of the event, Mr Deji Tunde-Anjous, son of the late Sir Anjous, said, "We recognise that entrepreneurship is so important to the development of our economy and our people so we have chosen to partner with LBS being the leading institution of higher education in Nigeria and I dare say, Africa". He added, "this is our own little contribution towards the transformation of our economy".
LBS MBA alumnus and founder of online furniture store, Domestico.com.ng, Uka Osaigbovo who was the guest speaker at the seminar admonished participants to start small but think big. Using his online store as case study, Osaigbovo noted that he started with a meagre amount of money and zero knowledge of carpentry but was able to grow the business by the urgent need to create solutions.
One of the participants, Unanka Emmanuella, who sells beancakes on a small scale using social media, said she approached the seminar with the mindset of learning to make more money. Unanka expressed, "I have learned that giving value and making impact is more important than making money. As I go to business, I will be mending relationships with clients I had earlier offended over money issues. This one-day seminar has exposed me to the quality of knowledge my five years in university could not offer."
The seminar wrapped up with participants reflecting on the lessons they had taken after which they were presented with certificates of attendance.
Four participants on Lagos Business School’s (LBS) MBA programme have successfully represented the School at the sixth edition of the annual Yale School of Management Integrated Leadership Case Competition.
Nkiruka Nwakonobi, Arinze Modebe, Ayodeji Ososami and Mayowa Adeosun – all in the MBA 16 class made it to the finals of the competition making LBS one of the 14 business schools to qualify for that level, out of 32 competing Global Network for Advanced Management (GNAM) schools.
The Yale Integrated Leadership Case Competition brings together the best students from top business schools across the globe to develop creative solutions to business challenges.
At the competition, LBS’ representatives, who participated in one of the three pools of competitors, recommended new business strategies to the company under analysis, Prodigy Finance. They also proposed that Yale School of Management adds a Nigerian case to its raw case format and were able to secure an agreement with the School.
One of the representatives, Arinze Modebe, said, “competing on a global level has fuelled my passion and ambition to attain even greater heights. I am of the opinion that it is possible to live your dreams if you work hard and believe in yourself. ”
The team gained exposure to a proprietary Yale SOM raw case, took part in networking sessions with other MBA professionals and students and got positive feedback on their excellent outing.
LBS MBA Director, Dr Uchenna Uzo described the team as outstanding for brilliantly representing the school on a global stage. He said, “Our students who participated in the Yale SOM Leadership Case Competition have done LBS so proud. It is rewarding to know that these students not only impressed the judges but stood their own among other leading global business schools”.
Upon their arrival in Nigeria, the team expressed gratitude to the School management and all faculty and staff who supported them through the competition.
Recently, a group of nearly 30 men and women representing diverse parts of the agriculture value chain resumed the Agribusiness Management Programme at Lagos Business School. The AgMP is an intensive programme designed to nurture leaders and managers in the agribusiness space to apply practical skills to their roles in their organisations.
Bursting with keenness for what the next five months hold, the participants moved around the LBS campus in their first week, taking in the richness of the artworks that hung in different parts of the serene and friendly space.
The AgMP’s unique value proposition is to expose participants to global, regional and domestic trends that will enhance strategic capabilities and this new set of participants are approaching the programme with a certainty that they will not only gain this exposure but also great value for money spent.
After a rewarding first week in class, some of them share their expectations:
“I am taking this course because of Lagos Business School’s reputation in providing training for business leaders but especially because I wanted clarity in the Agribusiness space”, Chima Ogbonnaya said. So far, it’s been gratifying; I have learned hands-on, practical scenarios that can help me make real decisions and the experience, albeit short, has been of value to me. The AgMP has exceeded my expectations; in other places, nobody tells you what to expect, but here, the programme is a reality check for most people, especially participants who have agribusinesses that are not doing well. They are now learning how not to do their business.
ICT support personnel at MTN Nigeria, Tosin Bankole said, “I have been into agriculture for three years, and I’ve tried my hands on crop farming, but so far, returns have not been enough compared to investments. At the moment, I’m looking for clarity and focus; I know that the agri-value chain is quite large and you have to find the best part of it to focus on, so I need a knowledge base.” He added, “I chose Lagos Business School based on its antecedents, pedigree and the quality of its alumni network. So far, I have been impressed with the level of information I’ve gained, and it’s worth every penny. I can’t wait for the programme to end so I can put what everything into action.”
Kemi Banjo had registered for the programme multiple times in previous years but never got the chance to attend until now. She says, “I’ve worked the last 15 years as a management consultant but now in transition. I’m passionate about the economic and social development of Nigeria, so on and off the past three or four years, I’ve done agribusiness more as social impact than as a profitable venture. I believe that I need the right foundation so I don’t make mistakes others have made. LBS understands the local terrain better than any other school and I think I’ll be getting the Nigerian flavour by coming here. I expect to meet interesting people who are on a similar journey as I am.”
Lagos Business School's Young Talents Programme(YTP) has been recognised by the Association of Advance Collegiate Schools of Business (AACSB) as one of the 30 innovations that will be showcased under the Innovations that Inspire Initiative at the 2018 International Conference and Annual Meeting (ICAM 2018) this month.
The AACSB is the world's largest business education alliance that connects educators, students, and business to achieve the common goal of creating the next generation of great leaders
LBS' Young Talents Programme was submitted under the category 'Cultivating the Business School Leadership Pipeline' highlighting how business schools are applying the practices of leadership development to coach the current and future leaders in academia to think more strategically across the academic enterprise.
"The biggest risk to business schools is not the rapid pace of change. It is in failing to prepare the next generation of business leaders to cope with that change," said Thomas R. Robinson, president and CEO of AACSB. "Through its best-in-class leadership development programme,Young Talents Programme, Lagos Business School is ensuring that the business leaders of tomorrow will be ready for whatever lies ahead."
The recognition means that LBS is among the 30 global institutions who are defining what it means to lead in the face of uncertainty and cultivating that winning skillset in the next generation of business leaders.
In his response to the achievement, LBS MBA Director, Dr Uchenna Uzo said, "I am more than delighted to see that our Young Talents Programme has attracted this level of recognition for achieving the purpose for which it was created. We aim to continually engage young potentials by setting them on the path of leadership".
YTP is a one-day programme that exposes talented university undergraduates to a world-class institution and establishes a relationship with them after graduation. It is one of the ways LBS is transforming the face of business education in Africa.
Lagos Business School alumnus, Glory Enyinnaya has been elected to serve as a member of the international Board of Governors of the Beta Gamma Sigma society. The BGS is an international honour society exclusive to business programmes accredited by AACSB International (Association to Advance Collegiate Schools of Business).
Enyinnaya is one of the nine new members who were recently appointed to join the Board of the Beta Gamma Sigma society. She is also the pioneer president of the LBS chapter of the society which was established in November 2017.
Expressing her delight, Enyinnaya said, "I am particularly happy that this appointment reflects well on the LBS BGS chapter and Lagos Business School in general. I hope to use my position to further the cause of business education in Africa".
The appointment is yet another significant accomplishment for Enyinnaya who emerged finalist in the AMBA Student of the Year category at the 2018 Association of MBAs (AMBA) Awards that held in London in February. She also won the LBS EMBA 21 Spirit of Service award in 2017.
"I congratulate Glory on this laudable achievement and hope she will use the role to assist the School in contributing to management development in Africa and globally", said Dr Uchenna Uzo, MBA Director at LBS.
Glory is the founder and Lead Consultant of Kleos Africa, an online consulting platform which aims at enabling value-adding interactions between African SMEs and experienced MBAs and professionals, with the aim of increasing the rates of successful entrepreneurship in Africa.
On Friday, 23rd March, Lagos Business School opened its doors to young professionals, some of whom have applied to the school's MBA programmes and others who are still considering the possibility. The MBA prospects were treated to an experiential session where their questions on the School's MBA programmes were answered in various formats including a live class sit in with current participants and a campus tour.
One of the prospects, Menuwe Osakwe, a 25-year-old Chemical Engineer is certain of sending in his application for a full-time MBA programme as he believes it offers relevant content needed to complement his foreign degree. Having progressed from a graduate trainee to middle management roles, Menuwe is aware that his technical skills will no longer be adequate and the LBS MBA will equip him with skills in accounting, strategy with human capital management among others.
Febisola Olanipekun is another MBA prospect who is in between a career switch and in need of a MBA that will help her build a large network and also understand the Nigerian economy. She will be joining the MBA because she believes that to conquer the world, she has to start from her immediate environment.
Like Menuwe and Febisola, here are five reasons you should strongly consider getting an MBA at Lagos Business School:
1. LBS's full time and executive MBAs were recently recognised by CEO Magazine as Tier One programmes and were featured on the magazine's Global MBA rankings. LBS is the 1st and only school in Africa to be recognised by the magazine, making it a business school of choice in the continent and beyond. Additionally, our Customised Executive Education has ranked number 2 on the Financial Times of London ranking table for two years in a row.
2. LBS' MBA provides its participants the opportunity to meet and interact on a global level through its international exchange programmes. This is facilitated by the Global Network of Advanced Management (GNAM), a network of 32 leading business schools including LBS. We are also in collaboration with IESE Business School, Spain; Yale School of Management; and many others.
3. LBS full-time MBA, Executive MBA and Modular Executive MBA students have gone to higher level employment in some of the biggest organisations in Nigeria and globally. Statistics show that 83 percent of our MBA graduates and 72 percent of our EMBA and MEMBA graduates have been employed in higher level jobs upon completion of the programmes. Some of our MBA destinations include DOW Chemicals, Exxon Mobil, IBM, KPMG, Dangote Group, Coca Cola, McKinsey & Company among others.
4. All our programme curricula are designed to provide an all-inclusive understanding of doing business in emerging economies with a special focus on Nigeria and Africa. Taught by globally renowned faculty members, our MBA courses are aligned with ever-changing business and management trends and have been accredited by the Association of MBAs (AMBA), one of the leading authorities on postgraduate business education.
5. International and local participants on the MBA, EMBA and MEMBA programmes with proven financial need can seek a scholarship.
Lagos Business School has now become the first and only school in Africa to feature on CEO Magazine’s Global MBA rankings. According to the list published today, LBS’ full-time MBA and Executive MBA programmes have been recognised as Tier One Programmes.
CEO Magazine has been showcasing top business schools around the world since 2008 with the purpose of identifying schools which marry exceptional quality with great ROI. The schools under review are ranked based on factors such as quality of faculty, class size, accreditation, faculty to student ratio, delivery methods among others.
Out of the 270 programmes from business schools recognised by the rankings, Lagos Business School ranked 70th while its EMBA programme equally took the 70th position on the Global EMBA ranking.
LBS’ MBA Director, Dr Uchenna Uzo speaking on the latest achievement said, “Lagos Business School’s presence on the CEO Magazine Global MBA ranking further confirms our commitment to the transference of excellent business and management education, especially as it relates to Africa”.
Uzo added that, despite this significant milestone, the School will not rest on its oars but will continue to ensure that it transcends expectations and maintains its position as a leading business school in the African continent.
Other prestigious schools featured in the rankings alongside Lagos Business School are IE Business School, Leeds University Business School and EU Business School.
Lagos Business School has also been ranked for 11 consecutive years among the top business schools in open enrolment executive education and for two years in the custom executive education by the Financial Times, London.
Lagos Business School's Sustainability Centre hosted the first of its quarterly programme, Sustainability Breakfast Meeting on Wednesday, March 14, 2018. Themed 'Sustainability Outlook: 2018 and beyond', the meeting brought together small and large businesses, leaders in NGOs and civil societies and individuals who shared knowledge on sustainability, especially as it concerns Africa.
The LBS Sustainability Centre commits to empowering individuals and businesses with the skills to provide solutions to critical sustainability challenges through research, sustainability courses and business action platforms.
On why the breakfast meeting is crucial to the sustainability conversation, Dr Ijeoma Nwagwu who manages LBS' Sustainability Centre said, "It is basically community building and knowledge sharing, because if you want to drive any change, it has to be one that is based on knowledge… our interest is to share knowledge so that we can build the evidence base we need to realise the sustainable development goals…"
Nwagwu added that LBS Sustainability Centre engages the private sector through seminars and feeds the knowledge gleaned from those seminars into sustainable development efforts and larger conferences, one of which is the annual International Sustainability Conference.
The meeting also provided insight on the trends that could influence the sustainability agenda in 2018, some of which were highlighted as political uncertainty – nationally and globally, taxation and the forthcoming 2019 elections among others.
It was concluded that companies and their competitors need to partner to advance whole-scale change and contribute to the advancement of the United Nations Sustainable Development Goals (SDGs).