Toyota Nigeria Limited

TOYOTA NIGERIA 10TH ANNIVERSARY LECTURE.

The lecture was anchored by a respectable Nigerian; Chief J. K. Randle who set the mood for the lecture with his opening remark. The event commenced with a lecture by the guest lecturer, Professor Bartholomew Nnaji, William Kepler Professor of Engineering, Director, United States National Science Foundation Centre for e-design and Chairman/Chief Executive Officer, Geometric Power Limited. The lecture titled TECHNOLOGY AND SOCIETY WHITHER NIGERIA IN THE GLOBAL CONTEXT in part reads "Of the many events impacting technology business today, we can examine some key ones that are affecting the future:

* The Emancipation of the consumer

* Accelerating advances in technology

The Consumer
"Consumers today demand individualism, immediacy and value. These are at the core of successful business strategies today and will continue to shape the strategies of the next decade. But we have to be careful when we use general terms since trends in consumer behaviour vary by the local socioeconomic and political situations obtainable in the various countries".

Technology
"The second of the three profound changes affecting the future is technology. There are commonalities in trends in technology and communications development throughout the world, trends that are exhibited both within the mature and developing markets. Everyone will be part of an information explosion unparalleled with everything previously known - the sum total of all human knowledge amassed to date will account for only a small fraction (some say 5%) of what will be known by the year 2010".

Globalization
"The third area of profound change is globalization of trade. Global trade advances will make protective tariffs obsolete. There will be a shift from self sufficient national economies to an integrated system of worldwide production. Boundaries will become porous. Sourcing decisions will be based less on labor costs and more on where the experts are, closer to the consumer marketplace or supply or raw materials, with more regional locations of production to facilitate customization. Low wages countries will evolve to high wage consumer markets. Low wage production sources serving high wage consumer markets will shift to regions of both production sources and consumer market places".
In attendance were captains of industry, eminent scholars from the academic community, members of the diplomatic corps, print and electronic media, bankers, automobile dealers as well as well wishers from the private and public sector of the Nigerian economy. The event was given wide media coverage thereby making an overwhelming success.

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