Production

Abraham Maslow in his theory of motivation identified; food, clothing and shelter as the foundational needs of man. Equality too, in the rustic society the basic needs of the people are food , clothing and shelter. The endowments and process for accomplishing the said needs are all…

Chief Benjamin Nnamdi Azikiwe Phd

Chief Benjamin Nnamdi Azikiwe Phd. 16 November 1904 - May 11, 1996. He was popularly refered Nnamdi Azikiwe was a prominent Nigeria nationalist and statesman who served as the first president of Nigeria from 1963 to 1966, holding the presidency throughout the first Republic. He is popularly…

Chief Obafemi Jeremiah Oyeniyi Awolowo GCFR

Chief Obafemi Jeremiah Oyeniyi Awolowo GCFR, 6 March, 1909 - May 9, 1987. He was a Nigerian nationalist and State man who played a key role in Nigeria's independence movement, the first and second Republics and the civil war. He was the first premier of Western Region…

Alhaji Sir Abubakar Tafawa Balewa

Alhaji Sir Abubakar Tafawa Balewa, KBE ( December 1912 - January 15, 1966) He was a Nigerian politician and first prime minister of an independent Nigeria . Abubakar Balewa was born late in 1912 in Bauchi, the son of a district head in the Bauchi divisional district…

BUSINESS CYCLES

(M.L.Jhingan )1997 Business cycles or trade cycles is a part of the capitalist system. It refers to the phenomenon of cyclical booms and depressions. In a business cycle , there are wave like fluctuations in aggregate employment, income , output and price level. The term business cycle…

Chimamanda Ngozi Adichie

She was born in Nigeria on the 11th September, 1977. Chimamanda is a new generation of Nigerian writer whose work transcends novels, short stories to non fiction. She has many accolades from her writings. The booklist describes her as" a word by word virtuoso with a sure…

SOCIAL STRATIFICATION

Social stratification is a system in which groups of people are divided into layers according to their relative power , property , and prestige . It is important to stress that social stratification does not refer to individuals. It is a way of ranking large groups of…

SEARCHES BY POLICE

When a person is arrested by police for having committed an offence , it may be necessary for the police to conduct a search of the person , depending on the offence he is suspected of. The search is made in order to obtain evidence to be…

JURISDICTION

Jurisdiction has been defined as a term of comprehensive import embracing every kind of judicial action. It is the power of the court to decide a matter in controversy and presupposes the existence of a duly constituted court with control over the subject matter and the parties…

CAUSE OF ACTION

A cause of action consists of every fact which it would be necessary for the plaintiff to prove if traversed in order to support his right to judgement to judgement. When these facts have occured and provided , there is in existence a competent plantiff and defendant…

DOMOCILE

Generally speaking , questions affecting the personal status i.e family relationship and family property, should be governed by one and same law irrespective of location and place. In law, domicile is the status or attribution of being a lawful permanent resident in a particular jurisdiction. A person…

NATURE OF EQUITY

Equity is a body of rules that form an appendage or gloss to the general rules of law . It represents the attempt , in origin at least , of the English legal system to meet a problem which confronts all legal systems reaching a certain stage…

ACTION FOR FORECLOSURE

An action for foreclosure is a judicial procedure by which the mortgagee acquires the mortgaged property for himself free from the mortgagor's equity of redemption. It is a more effective remedy available to the mortgagee in urgent need of his capital which he cannot realise from the…

SECURED AND UNSECURED CREDITS

Secured credit generally refers to credit that requires you to pledge something of value in order to secure a loan. In banking terms, it is called collateral . By contrast , an unsecured loan or line of credit doesn't require any collateral . UNSECURED CREDITS These are…

CLASSIFICATION OF SECURITY

Securities are classified into real and personal. Real security gives the creditor certain rights over property which has been appropriated to meet the debt. This takes the form of a right in rem over specific property to the satisfaction of a particular debt so that the debt…

CORPORATE LONG TERM FINANCE: DEBT AND EQUITY

Securities issued by corporations may be classified roughly as equity securities and debt securities. At its crudest level, a debt represents something that must be repaid; it is the result of borrowing of money. When corporations borrow, they promise to make regularly scheduled interest payments and to…

FIXED AND VARIABLE COST

VARIABLE COST: By definition , variable cost change as the quantity of output changes and they are zero when production is zero. For example, direct labour cost and raw material costs are usually considered variable. This makes sense because if we shut down operations tomorrow, there will…

ROYALTY

Royalty is the remunerations payable to a person in respect of the use of an asset , whether hired or purchased from such person, calculated by reference to and varying with quantities produced or sold as a result of the use of such assets. The expression used…

CASH OUTFLOWS

These comes in four categories: Payments of accounts payable: These are payments for goods or services rendered by suppliers , such as raw materials and services. Generally, these payments will be made sometime after purchases.Wages, taxes, and other expenses: This category includes all other regular costs of…

Auditing

Auditing is defined as a process, carried out by an appointed qualified person or body, whereby the records and financial statements of an entity are subjected to independent examination in such detail as will enable the auditor form an opinion as to the truth and fairness of…

DIVIDENDS

One distinctive feature of corporations is that they have shares on which they are authorized by law to pay dividends to their shareholders. Dividends paid to shareholders represents a return on the capital directly or indirectly contributed to the corporation by the shareholders. The payment of dividends…

INSURABLE INTEREST

Insurable interest, though a legal concept is not synonymous with legal interest. The interest recognized at law as insurable interest may be defined as the insured's pecuniary interest in the subject matter of the insurance. Thus, A buys a Peugeot 505 for one million naira. That is…

Doctrine of Subrogation

The judicial meaning of Subrogation is substitution. It is the substitution of one person for another, so that the rights and duties as attached to the original person attach to the substituted person. Under the doctrine, the insurer is substituted for the insured after fulfilling some contractual…

ARBITRATION AND AWARDS

An arbitration is the reference of a dispute or difference between not less than two parties for determination after hearing both sides in a judicial manner, by a person or persons other than a court of competent jurisdiction. A person or persons to whom a reference to…

MORTGAGES
MORTGAGES

MORTGAGES

A mortgage is a legal or equitable conveyance of title as a security for the payment of debt or the discharge of some other obligation for which it is given, subject to a condition that the title shall be reconvened if the mortgage debt is liquidated. The…

CLASSIFICATION OF MEETINGS
CLASSIFICATION OF MEETINGS

CLASSIFICATION OF MEETINGS

Meetings can be classified into two; public and private meetings Public meetings are those to which the generality of the public have access. Such meetings will, in the nature of things, be concerned with matters of public interest. Private meetings are those to which persons are admitted…

RATIFICATION OF THE AUTHORITY OF AN AGENT
RATIFICATION OF THE AUTHORITY OF AN AGENT

RATIFICATION OF THE AUTHORITY OF AN AGENT

If an agent has no authority to contract on behalf of a principal or exceeds such authority as he has, the contract is not binding on the principal. The principal may, however, afterwards confirm and adopt the contract so made; this is known as ratification. The effect…

AGENCY
Agency

AGENCY

An agent is a person who is employed for the purpose of bringing his principal into contractual relations with third parties . The agent does not make contract on his own behalf and consequently it is not necessary that he should have full contractual capacity. A minor…

SIZE OF GOVERNMENT VS. COST OF GOVERNANCE
SIZE OF GOVERNMENT VS. COST OF GOVERNANCE

SIZE OF GOVERNMENT VS. COST OF GOVERNANCE

It is no longer strange news that the global economy have fallen on turbulent and tultmoutous times due to the Corona virus pandemic which has a disruptive effect on the global economy. In the same manner, the economy of Nigeria has equally fallen on difficult times with…

The Nile River
The Nile River

The Nile River

Today, this river is the source of conflict between Egypt and Ethiopia as regard it usuage. It should be highlighted that the river passes through three major countries namely , Ethiopia, Sudan and Egypt although the lead waters can be traced to Burundi, Tanzania and Uganda. Ethiopia…

Cape Verde Island

Cape Verde Islands, is a group of ten inhabited islands which lie much farther than the Canaries. Are they within the tropical lands ? Yes of course , they are within the tropics lying roughly between latitudes 14 and 17 and they lie about 720 kilometers from…

Defamation

Defamation is concerned with injury to reputation resulting from words written or spoken by others. The full import of a defamatory statement is that it tends to lower the reputation of the plantiff in estimation of right thinking members of society generally; or to expose him to…

BLACK MARKET

Black market is a nomenclature for the sale of products beyond the recommended price. For example in Nigeria, government regulates the price for the sale of petroleum products and there is an expected margin practitioners are expected to make from their investment. The logic behind government interference…

PRICE MECHANISM

The allocation of the factors of production in a perfect market is not done through government regulations but by the forces of demand and supply known as the price Mechanism. Reduced to basics, the price mechanism is an economic pragma in which the individual as the controller…

THE YORUBA’S

The Yoruba speaking peoples of West Africa are close to forty million people and are concentrated on the South Western Nigeria spanning from Lagos, Ogun, Ondo, Osun, Edo, Kogi and Kwara states. Yoruba claim a common ancestor in Oduduwa, although there are some varying account of the…

KOLA

KOLA nut is a caffeine containing fruit, which is widely used as a stimulant in most parts of West Africa. There are two species of kola, cola acuminata (Abata) and Cola nitida (Gbanja) both of which are natives of the forest of West Africa. In many part…

KARL MARX AND CLASS CONFLICTS

Karl's works revolves around politics, economics and society. He is constructed as one of the most prolific social thinkers of the 19th century and his work has great influence on social evolution. He believed that the evolution of the society is driven by class conflicts, which manifests…

OWNERSHIP OF PROPERTY

Connotes a complete and total right over a property. The owner of the property is not subject to the right of another person. Because he is the owner, he has the full and final right of alienation or disposition of the property, and he exercises his right…

UNITY OF COMMAND

Unity of command means that no employee should be subject to orders of more than one immediate superior. If he is, he might receive conflicting orders from them and his position may become an impossible one. Diversity of command may also result in the subordinates playing off…

CONTINGENCY STRATEGY

Every corporate organisation has a strategy with which it intends to penetrate the market or gain a competitive advantage. However, at times the organization may find that the strategy is unworkable either due to changed business environment caused by government policies etc. the corporation may have to…

WRONGFUL DISMISSAL

A wrongful dismissal is an unjustifiable dismissal of a servant by the master from an engagement for services for a fixed time or, if upon notice, before the expiration of the period of notice. The servant may elect to treat the contract as repudiated or if he…

REDUNDANCY

In the rudiments of employment law, redundancy - also referred to as retrenchment - arises when an employer discharged surplus labour. The surplus may arise out of a sluggish demand for the products or services of the company, lack of raw materials and spares to continue production,…

BENCHMARKING

This is a systemic process of comparing the activities and work processes of an organization or department with those of outstanding departments or organizations in order to identify ways to improve performance. Types of benchmarking include internal benchmarking; a method of comparing one operating unit with another…

UNIQUE SELLING PREPOSITION

A unique selling preposition is a description of the qualities that are unique to a particular product or services and that differentiates it in a way which makes customers purchase it rather than its rivals. Marketing experts used to insist that every product and service had to…

VALUE ENGINEERING

Value engineering is a systemic method of improving the value of goods and services of a firm by examination of function. The acid test is whether any negative or positive effect will be felt by eliminating some processes. Essentially therefore, value engineering aims to identify and reduce…

WORKFLOW

The workflow consists of   a methodological sequencing of operations, the work of a person, or group, or the work of an organization of staff. Correspondingly, a workflow consists of a well-orchestrated and repeatable pattern of activities that provides services and information from one level to the other…

EMPLOYABILITY

This is the potential for obtaining and keeping fulfilling work through the development of skills that are transferable from one employer to another. Employability is also affected by the market demand for a particular set of skills and by personal circumstances. Employees may take responsibility for developing…

CASH MANAGEMENT

Cash is one of the most important current asset for the operations of the business. In other words, cash is the basic IMPUT to keep the business running on a continuous basis. On the OUTPUT side, it is also the ultimate output expected to be realized by…

CONFLICT OF LAWS

When a contract between persons and companies residing in different countries, or made in one country to be performed in another, the question arises as to which country's law should govern the contract. The solution of this question pertains to the subject matter known as private international…

CRITICAL MASS

Critical mass is the point at which a growing company becomes self-sustaining and no longer needs additional Investments to remain economically viable. It is the point at which at which the business becomes profitable enough to continue growing by itself and no longer requires Investments from outsiders.…

FINANCIAL STATEMENTS

The financial statements contain summarized information of the firm's financial affairs. Financial statements are of types, namely; Balance SheetProfit and loss account The balance sheet indicates the financial condition or the state of affairs of a business at a particular moment of time. The profit and loss…

DIVERSIFICATION

From time to time Companies that are focused on a single line of business become nervous about putting all their commercial eggs in no one basket. The exposure to this type of risk is reduced by increasing their business portfolio. Therefore over time it is appropriate to…

NATURE OF TRESPASS TO LAND

This was explicitly defined by the court in Ajibade V Pedro (1992) 5 NWLR (PT) 241 as: an unwarranted or unjustified entry or intrusion by one person upon land in possession of another. It does not depend on the intention of the trespasser, nor can he plead…

BUSINESS TURN AROUND

This is a set of actions designed to save a business from insolvency and business failure. The actions and plans are directed at turning the distressed financial position to a healthy and profitable one. The priority of the turnaround engineer then, is to first identify the causes…

PUBLIC VALUES

President Bill Clinton, the 42rd President of the United States of America, was incited and impeached by the House of Representatives in America on two charges bordering on perjury and obstruction of justice. In summary, he was impeached for the in fracture and violation of public values.…

INPUT

In production theory, an input is a factor or resource which, when combined with other factors of production help to produce a given level of output. Some of these inputs are outputs of other firms. For example flour is an output of flourmill. It is however the…

CASH FLOW

This is the money generated by a business organization from its activities as opposed to money which is borrowed. It is the money that the business actually received (cash inflow) and that which it expend (cash outflow). Even loan obligations are expected by the lenders to repay…

CASH COW

A cash cow is a business which is profitable as it generates more cash than what was used to acquire it or set it up. At other times, the word 'cash cow' is used to refer to a profitable product that dominates the market and generates more…

BREAK EVEN ANALYSIS

This is a method for the determination of the point at which fixed and variable production costs are equaled by sales revenue and where neither a profit nor a loss is made. In a perfect market, the breakeven point is the point at which marginal cost equals…

TROUBLESHOOTING

Troubleshooting is a form of problem solving, often applied to repair failed processes or products. It is a logical, systemic search for the source of a problem in order to solve it and make the process operational again. Simply put, to troubleshoot is to embark on a…

INVESTMENT DECISIONS

Investment decision relates to decisions made by businesses with respect to the amount of funds to be deployed in new investment opportunities. From time to time businesses are confronted with new opportunities which must be carefully scrutinized before funds are committed to the cultivation of new ideas.…

EFFECT OF REGISTRATION OF COMPANY

Companies formed under the Companies and Allied Matters Act, Laws of The Federation of Nigeria, cap 1990 as amended have two principal features. They are corporations, that is, artificial legal persons invested by law with most of the powers and responsibilities of natural persons. This means that…

BRAINSTORMING

Brainstorming involves a spontaneous, open ended discussion in an effort to generate new ideas. It is a means of getting a large number of ideas from a group of people in a short time. In essence, brain storming is a way of using many brains to storm…

LIABILITY FOR THE ACTS OF OTHERS

The leading example of this kind of responsibility in English law is called 'vicarious liability'. The term is applied to the situation where an employer (often referred to as a master) is held liable and accountable for the tort committed by his employee (or servant) whilst the…

GUERILLA MARKETING

In military parlance, the word 'guerilla warfare' refers to the use of unconventional and irregular tactics to fight a war .i.e. ambushes, sabotage, and hit and run and so on. Guerilla Marketing is an advertising strategy that focuses on low cost unconventional marketing tactics that yields maximum…

PROMISSORY NOTES

A promissory note is an unconditional promise in writing, made by one person to another, signed by the maker who is engaging to pay on demand or at a fixed or determinable future time, a sum certain in money , to or to the order of a…

SALE BY PERSON NOT THE OWNER

As a general rule, the sale of an article by a person who is not the owner, or authorized by the owner to sell confers no title on the buyer. The Latin maxim is nemo dat quod non habet meaning that you cannot give what you don't…

CAVEAT EMPTOR

Caveat Emptor is the Latin words for “let the buyer beware" The general rule at the common law is that mere silence does not constitute misrepresentation. In general, a contracting party is not under any obligation to disclose to the other party material facts that will help…

CUSTOMER SERVICE AS A MARKETING STRATEGY

One of the greatest problems in customer service is the unwillingness of business managers to look at customer service as a potent marketing strategy. Too many mangers see customer service as a sort of after sales service; something relating back to a previous sales rather than ahead…

INTRODUCTION TO CUSTOMER SERVICE

The profit producing capability of any organization derives from impressions made by all employees on the organization’s customers. The means of creating these impressions are the quality and efficacy of the product or service that the employees sell: the quality, accuracy, dependability and speed of their service-…

PASSING OFF

Passing off is the false representation of one’s product or business as that of another person, thereby deceiving buyers to patronize it. Equally , passing off is the  selling of one's products ,or carrying on of one's business as if it were that of another person whose…

CLASSIFICATION OF GOODS

By virtue of the Sale of Goods Act, goods which form the subject of a contract of sale may either be: Existing goods i.e. Goods owned or possessed by the seller at the time of the contract. If I walk into Cake Lounge to buy an already…

PASSING OF PROPERTY AND RISK

The purpose of a contract of sale of goods is the transfer of property (ownership) from the seller to the buyer. Property is also called title. It is important to know at what time property/title passes in the transaction of sale for the following reasons: Risk generally…

NATURE OF CONTRACT

A contract is an agreement which is legally binding on the parties to it and which, if broken, may be enforced by action in court against the defaulting party. The requirements for the formulation of a legally binding contract are as follows: OfferAcceptanceConsiderationIntention to create legal relationship           Parties…

THE DEMAND FOR MONEY

The demand for money is a derived demand as it is needed not solely for its own purpose but for the quantity of goods and services that it allow us to purchase. In other words, money is the vehicle through which we can purchase our necessities and…

CROSS SELLING

Cross selling involves selling an additional product and services on top of the one that a customer has already agreed to buy (or has already bought). In other words, cross selling is the process of selling a different product to a customer to increase the value of…

CRISES OF GOVERANCE

Prof. Adedeji wrote as follows: Not only is Nigeria physically large, but national resources are plentiful and, relatively untapped. If it were possible to divide the countries of Africa into two groups - those that have a clear potential for growth and those where economic development will…

EVALUATING BUSINESS STRATEGY – THE “S.W.O.T” ANALYSIS

Businesses must periodically evaluate their strategies to ascertain how well their objectives have been accomplished. Performing S.W.O.T analysis involves identifying and recording the strengths, weakness, opportunities and threats concerning a chosen strategy. It should be noted that the analysis recognizes exogenous and endogenous factors. In other words,…

STRATEGY

Businesses need strategy in order to be prosperous rather than survive. This is not to suggest that a business cannot survive without any strategy but that is about all they can do. They will neither be prosperous on the long run nor excel and without doubt, they…

IN TURBULENT TIMES

In tumultuous times, it is obviously tempting for businesses to want to do away with business theories and strategies; in fact, most businesses wonder whether they actually need any strategy at all apart from maintaining the bottom line. They actually do. Nigeria is currently facing a crisis…

COMPETITIVE ADVANTAGE

David Richardo's economic theory of comparative advantage has remained valid since the 19th century until date. Correspondingly, the same theory has provided business managers with a framework for strategic thinking. As Porter puts it: Competitive advantage is a function of either providing comparable buyer value more efficiently…

DISCHARGE OF A CONTRACT

Professor Sagay in his book, Nigerian Law of Contract, enunciated the concept of the Discharge of Contract as follows: The discharge of a contact means, in general, that the contractual relationship between the two parties has ended and the parties are free from their obligations to each…

PRODUCT LIFE CYCLE

Products can be likened to human beings in the sense that they have a life cycle; they have a birth, a life and a death. Consequentially, products should be promoted, financed and marketed with this in mind. Even as a new product is launched the promoter must…

UNSIGNED DOCUMENTS

Most receipts have a place for two people to sign, first, the customer and second, the issuing party. Unfortunately, most customers are too lazy, nonchalant and careless to append their signatures to the receipts. The cogent question to ask is this; what is the effect of an…

E – MARKET PLACE

The physical market where the buyers and sellers must converge is fast giving way to the e-market place. The Oba market, Oyingbo market, Jankara are all examples of physical markets where the buyers and sellers have physical contacts and interface. The E-Market place, on the contrary, is…

HARD SELL

At times we find salesmen trying to force us into buying goods we don't need. At times, we buy out of pity or overwhelmed by the pressure; at times we have the temerity to turn down the offer. Simply put, a hard sell is a heavily pressurized…

TEAM BUILDING

One major difficulty business owner’s face is how to build a formidable team to accomplish stated goals. Put precisely, how to select and group from a mix of people those with the requisite skills and attitude to achieve ascertained goals. The major encumbrances to team cohesion and…

MARKET SHARE

In business competition for market share is brutal. Sales comes at the expense of other competitors. What then is market share? Market share represents the percentage of an industry or market total sales that is earned by a particular company over a specific period. The market share…

COST BENEFIT ANALYSIS

Cost benefit analysis is a weight scale approach to taking business decisions. It appears very simple because it involves placing the pros and cons of the project on opposite sides of the balance. Whichever weighs heavier wins? For example, Amena Academy is considering purchasing some computers systems…

PROJECT MANAGEMENT: NETWORK ANALYSIS

Network analysis comprises of a set of techniques developed to aid the planning, monitoring, and controlling of complex projects and project resources. Network analysis is a tool of project management that involves breaking down a project into component parts or individual activities and recording them on a…

TOTAL QUALITY MANAGEMENT

Current thinking in management theory and practice lean towards giving everyone in an organization the task of delivering quality service. This is in contrast with earlier views that thrust the task of maintaining quality control on a 'quality controller'. A quality controller is the person that stands…

TRADE MARKS

A trade mark is a registered identification sign attached to a commodity. The principal purpose of attaching such a sign to the product is to facilitate and enhance the marketing of the product by indicating to the customers the source and reputation of the affixer. As a…

TEST MARKETING

Exponentially, this is an experimental marketing system using a small scale version of a marketing plan usually in a restricted area or a small sample group to test the marketing strategy of a new product. On the road, or in shopping complexes, we see marketers asking us…

CREATIVITY

Solving problems in the convectional manner will only yield convectional results. Conversely, however, the application of new, innovative and imaginative ideas to existing problems will yield new and creative results. Creativity, therefore, is the generation of new ideas by approaching existing problems in an innovative way. To…

THE CORE COMPETENCE

This is the strength, ability and harmonization of the resources of an organisation in order to give it a competitive advantage in the market place.  In other words, it is that skill and or abilities that distinguishes it from other competitors and contributes to its long term…

TEAMWORK

Teamwork is an integral part of business as it is crucial that the various officers and departments of the company are not working at cross purposes. In other words, teamwork is a collaboration of two or more people to achieve a common purpose. For example in a…

CUSTOMER PROFITABILITY ANALYSIS

The contribution to each customer or a group of customers to the organization's profits differ. For example a bank may have many customers but one or two customers may be their premium customers in terms of their contribution to their Profit. Likewise, a Solicitors firm may have…

THE BOARD ROOM

The boardroom is a place where people who control a company or organisation meet .i.e. the Directors of the Company. The Directors of the company must act collectively as a board, hence the need to hold board meetings where issues of strategy and corporate governance are discussed…

POWER OF ATTORNEY

A  Power of Attorney is a formal instrument by deed by which one person authorizes another person to perform specific tasks on his behalf. When the power of attorney is given for valuable consideration, it is expressed to be irrevocable. A power of attorney must be construed…

OFFTAKE ARRANGEMENT

An offtake arrangement is an agreement between a producer and a buyer to purchase or sell portions of the producer's future production. An offtake agreement is normally negotiated prior to the construction of a facility in order to secure a market for the future output of the…

FRINGE BENEFITS

This are given to or offered to employees in addition to their wages or salaries and included in their employment contract. In comparison, a salary is a fixed sum of money or compensation paid to an employee by an employer in return for work performed. Salaries are…

ENTERPRISE CULTURE

This refers to an organization or a social environment that encourages and makes possible initiatives and innovations. It should be emphasized that innovations and initiatives are the distinguishing qualities of an entrepreneur. An organization with an enterprise culture is usually more competitive and more profitable than a…

EMPOWERMENT

The word 'Empowerment' can be put to multidisciplinary use. However in the management spheres, it refer to the act of giving subordinates greater discretion and resources. It involves distributing control in order to better serve both the customers and the employing organizations. In other words, it is…

HEAD HUNTING

This is the practice of approaching people already working at one company with the offer of a job at another. Head hunting is usually carried out by a recruiter- either an employer within a company or an employer agency- who keeps an eye on the performance of…

MITIGATING BUSINESS RISKS

The system of mitigating business risk can be distilled into four, namely: Avoidance, Acceptance, Limitation and Transference. RISK TRANSFERENCEThis involves the transfer of risk to a willing third party e.g. an insurance company or even outsourcing a non-core business to a third party RISK LIMITATIONThis is the…

BUSINESS RISKS

Essentially, every business organization faces various risks elements while doing business. The term Business Risks refers to the possibility of a commercial business making inadequate profits (or even losses) due to uncertainties - for example; increase competition, changes in government policies, changes in tastes. Consequently, business risks…

QUANTUM MERIT

This is a Latin phrase which means: as much as he deserves. Quantum merit is an equitable doctrine that allows a party to recover for the value of his labour and materials furnished to another even though there was no actual contract so that the other party…

VOID AND VOIDABLE CONTRACTS

The consequence of a void contract or any action at all, is that it has no legal force or binding effects. It is null, nugatory and incapable of being ratified. A contract is VOID ab initio, i.e. from the very beginning or at the inception if it…

Multinational Corporations

Multinational Corporations like Shell Petroleum Development Corporation , Mobil Producing , Agip ,Dieago Guinness , etc have their headquarters in one country , but their operations are in different countries. What this means is that the business must comform with the laws of their operating countries.In the…

SALES FORECAST

Generally , forecasting , is the prediction of outcomes , trends , or expected future behavior of a business , industry sector or even the economy. Put in another way , it is a projection of economic activities over a particular time period. Sales forecasting , therefore…

IRREPARABLE INJURY

This is a type of harm , damage or injury which cannot be fully remedied by the law and , therefore , requires an equitable remedy of injunction against the individual about to commit the injury or harm. Demonstrating irreparable injury is usually a condition precedent for…

NON DISCLOSURE AGREEMENT

A non disclosure agreement is also known as a confidentiality agreement. It is a legal contract between two or more parties that outlines confidential materials , knowledge ,or information that the parties wish to share with one another for certain purposes , but wish to protect and…

VULCANICITY

The term vulcanicity includes in it's widest sense all the processes by which solid, liquid or gaseous materials are forced into the earth crust or escape on to the surface. In either case , this activity may have a profound effect on surface features. The materials injected…

LAKES

Hallows in the earth's crust are produced on a large scale by wrapping or fracturing and the depression so formed may contain salt or fresh water lakes. Rift valleys afford obvious sites for lakes in their steep side linear depressions.e.g the Dead Sea. The craters of dormant…

RIVERS AND RIVERS SYSTEM

Running water is the most potent element that sculpture the earth surface. A river is a mass of water flowing over the earth surface from a source which is either a spring or run off water from rain fall etc, etc . It runs until it reaches…

FACTORS AFFECTING VEGETATION

Soil and climate are the two most important factors that affect vegetation. With regards to climatic factors, two main elements are important, namely; rainfall and temperatures particularly their seasonal distribution. Specifical the length of the dry season. In a broad sense, rainfall determines the vegetation type, abundant…

WORLD CLEAN UP DAY : CLEAN UP MAKOKO

As if this is the season for environmental matters the Climate Summit and the World Clean up day overlapped. It should be stated that the World Clean Up Day is a global social action dealing with solid waste issues . As a matter of fact it is…

CLIMATE CHANGE

A Race We Can Win , A Race We Must Win. The above is the theme of The recent United Nations Climate Action Summit in New york which is apt and timely . It underscores the important attached to this issue that is capable of threatening human…

ORGANIC FARMING

Organic farming is a recent formulation in reaction to changing farming practices. The farming is delineated by the use of fertilizers that are organic in nature such as compost, manure, green manure, bone meal, etc. It also places empharsis on agricultural technics such as crop rotation and…

THE AMAZON FIRE DISASTER

An eco system catastrophe is in the offering in the Amazon rainforest which houses 20 percent of the earth's carbon dioxide. However, the increase in human activities and aggressive cultivation of the forest for animal husbandry and poor farming methods have led to a multiplication of bush…

LINEAR SETTLEMENT

One peculiar pattern of towns or settlement along a river is that they are linear in fashion. For example, when I first visited Yenogoa many years ago, I saw that the houses were built in a linear fashion but that is no longer the case as the…

LANDFILL SITE

Lagos and Abuja are growing exponentially in population. Essentially, human activities must necessarily generate waste which has to be disposed in one way or the other. A land fill site is said to be a site for the disposal of organic waste materials by burying the substances.…

SOLAR POWER

The use of solar power is growing exponentially. At the last count the government commissioned at a Federal University a solar power project. Solar energy is the radiant light and heat from the sun that is harnessed through solar heating. Precisely, it is an important source of…

AFRICA

Africa is the second largest of the continents of the World . It occupies an area of 30,420,000 km . It is about three times the size of Europe. Africa lies within the tropical lands as the equator cuts exactly midway across the continent. Most of Africa…

DESERT LANDS

A third of the earth land surface experiences desert or semi desert condition. However , desertifation is on the rise due to human factors like deforestation . The basic fact responsible for the existence of deserts is the aridity which is expressed in terms of the scantiness…

ATMOSPHERIC PRESSURE

The atmosphere of the Earth is the layer of gases covering it commonly called air and it is retained by gravity. Because the Earth rotates or orbits round tge sun ,one would have expected the the air would be thrown off. That is not so , as…

BIOLOGICAL HARZARDS

A biological hazard or bioharzard for short ,is said to be a biological material or substances that poses a threat to the health of living organisms mainly human beings . Micro organisms are either harmful to human beings or not . However ,in relation to bioharzards ,…

MICRO ORGANISM

Micro organism are tiny organism which cannot be located and seen with the naked eyes except with the use and aid of microscope. These organisms are found every where in the Ecosystem, namely; in the soil, Water and air. While some of them are useful and beneficial…

OSMOSIS

OSMOSIS Osmosis is defined as the movement of water or solvent molecules from a region of concentrated or stronger solutions through a selectivity or differentiated permable membranes. This is similar to atmospheric pressure where air moves from a region of high pressure to low pressure. For Osmosis…

THE KINETIC ENERGY

The kinetic energy of any object is the energy it generates due to its motion. Put differently, it can be defined as the energy needed to accelerate a body of a given mass from rest to velocity It is the work needed to accelerate a body of a given…

WORLD POPULATION DISTRIBUTION

Population growth is increasing exponentially especially in the rural areas. In the urban areas, migration from the rural areas is the root cause of the escalation of population growth. What is important to reiterate is that less than twenty percent of the earth surface is habitable for…

THE TROPICAL RAIN FOREST

The tropical rain forest is a forest which occurs in the area of rain forest climate in which their is no dry season. All months have an average precipitation of 60 mm; and it is marked by large evergreen trees that forms a canopy.  The hot and…

THE MANGROVE FOREST

These are a host of trees and shrubs that grow in the low coastal waters . The trees survive with low oxygen soil where slow moving waters allows fine sentiments to settle.

CARBON DIOXIDE

Carbon dioxide (CO2) may be in solid or liquid form. It is an important element in refrigeration and cooling. Carbon dioxide consists of a carbon atom covalently double bonded to two oxygen atoms. It occurs naturally in Earth's atmosphere as a trace gas . Uses of Carbon DIoxide 1) Used…

WEATHERING

WEATHERING involves the disintegration and decay of rocks. The magnitude and speed of disintegration depends on the nature of the climatic elements involved (i.e. rain, sun, and temperature) on the one hand and the composition and character of the rock i.e its hardness, texture, fault lines, bedding…

ENVIRONMENTAL IMPACT ASSESSMENT

ENVIRONMENTAL IMPACT ASSESSMENT, this is the process of accessing, analyzing and evaluating the impact a proposed development or project will have on the environment taking into consideration the interrelated, social, economic and health impacts which may be favourable or adverse in our environment.