Business News of Thursday, 23 November 2017
Source: Frank Owusu – Ofori & Bright Nana Amaning
2017-11-23
Nana Kweku Nduom, Executive Director of Groupe Nduom
An Executive Director of Groupe Nduom, Nana Kweku Nduom has advised businesses to survey new locations where it would like to expand its business to before settling.
Speaking in an interaction with the media on the sidelines of Djondo Fellowship’s Executive Seminar on Managing Beyond Borders, he said surveying new locations will enable companies know whether or not their businesses will be successful.
According to Nana Kweku Nduom what has helped Groupe Nduom in its expansion process is that officials and experts from the Groupe first carry out feasibility studies to ascertain the success of that business entity before they venture.
“Groupe Nduom has been very fortunate in a number of ways; the opportunities that come to us it just seemed perfect to exactly what we are looking for,” he disclosed.
Groupe Nduom is a Multinational Family Holding Business of Ghanaian and American origin comprising of over 60 independent companies across several industries. The group operates its diverse portfolio of businesses across three continents with a purpose to serve customers with enthusiasm, innovation and discipline.
Sharing his thoughts on some of the challenges faced when expanding one’s business into new territory, Nana Kweku Nduom indicated that the challenges may differ depending on whether such business was a start-up or an acquisition.
“When you are acquiring a new business that is already existing, you have to look at how their culture and your culture will fit. What you need to do is to ensure that when you go into this new area, the people will buy into your strategy, culture and philosophy otherwise thing will go bad real quickly” “If you are setting up your own business on the other hand, t’s more of how do I find the right talent, how do I find the right customers, how do I make sure my products go out etc.,” he revealed.
Groupe Nduom businesses and social enterprises include entities in the Tourism, Investment Advisory and Management, Financial Services, Technology, Media, Management Consulting, Cross Border Trade and Sports industries.
