By Elizabeth Osayande & Ifunanya Ndigwe

Professor of Strategic Management at Pan-Atlantic University, Professor Nkemdilim Ezenwa Iheanachor, has advised African businesses to transition from traditional, solo operations to dynamic digital ecosystems to remain relevant and competitive.

Professor Iheanachor gave this advice while delivering the 22nd Inaugural Lecture of the university, titled “From Firms to Ecosystems: Rethinking Strategy and Value Creation in Africa’s Digital Economies,” at the Lagos Business School.

The Professor explained that the success of modern African firms depends on their ability to turn institutional challenges into opportunities through strategic networking.

Iheanachor said, “It is high time for African firms to build strategies around institutional voids and leverage on these strategies they have built to compete and survive.”

The Professor further maintained that holding onto physical ownership is no longer the primary driver of success in the current digital age.

According to him, “Your real competitive advantage is no longer what you own. It’s who you can connect, coordinate, and enable at scale.”

While highlighting the core pillars of his lecture, Iheanachor noted that firms must understand the death of the solo firm and embrace ecosystem orchestration to grow.

Vice-Chancellor of Pan-Atlantic University, Professor Enase Okonedo, who introduced the lecturer, described the presentation as a timely intervention for the Nigerian and African business environment.

Professor Okonedo thanked the lecturer for his contribution to the field of strategic management and noted that the university remains committed to fostering professional ethics and enterprise.