MAXIMIXING RESOURCES FOR PRODUCTIVITY AND PROFITABILITY
Faculty and Staff have been charged to further intensify their commitment to attaining the agrarian vision of the University by maximizing resources for productivity and profitability. The call came on Thursday 15th July, 2021 at the 8th Landmark University Center for Research, Innovation and Discoveries (LUCRID) webinar organized by the Department of Agriculture in collaboration with SDG 1 Research group.
In his opening remarks, the Vice-Chancellor, Professor Adeniyi Olayanju stated that the theme of the webinar “Maximizing Resources in the University for Productivity and Profitability”, is apt and in alignment with the Landmark Sustainable Goals (LSG) as well as the UN-Sustainable Development Goals (SDGs).
According to the Vice-Chancellor, the survival of universities is dependent on maximizing profits from existing capabilities, while recognizing and adjusting to the fact that what work today may not necessarily work in the future. Therefore, to make or maintain universities’ profitability, managements of such organizations must work hard to engage employees, understand how to manage the balance between employee relations, adopting innovation, and maximizing short-term profits. In addition, Professor Olayanju noted the use of advanced technologies, skilled labor, best practices, and education has helped to increase the efficiencies in many major organizations and firms.
Earlier, the Registrar, Miss Fola Oyinloye represented by the Head Corporate and Public Affairs, Mr. Joseph Olajide in her welcome address stated that the theme of the webinar is pertinent to the university drive for excellence, “As responsible and responsive stakeholders in an academic environment with a compelling role of raising human capital for self-actualization, nation building and global prosperity, we cannot afford to trivialize the concept of judicious engagement of the resources available for us to carry out ours statutory functions.” She noted.
In his presentation titled “Maximizing resources in a teaching and research farm for productivity”, Professor Stephen Bolu an expert in animal science noted that the main purpose of teaching and research farm in a university is for innovation, research, training and practical. Professor Bolu warned that while there might be little sales of produce, the operational mode of a teaching and research farm is not based on profit making but research, outputs, patents, intellectual property, technology transfer, royalties and training among many others. According to him, teaching and research farm is “a center of excellence in very specific areas of research”.
Also presenting is a Professor of Agricultural and Resource Economics, Professor Adebayo Shittu from the Federal University of Agriculture, Abeokuta. Professor Shittu while speaking on the topic “Attracting external resources into the University for Increased Productivity and impacts on the society”, emphasized that funding is the major driver of the university. In his submission, every institution must work assiduously to attract grants through the quality of researches done and intentional pursuit of funds hence the need for all hands to be on deck. Professor Shittu noted that funding should be generated from the public since the impact of the research work is on the society.
The Dean College of Agriculture, Professor Moses Bamiro who earlier shared his thoughts on the webinar also identified the need to maximize the limited resources available and according to him, allocated efficiency plus technical efficiency would result in economy efficiency.
The webinar was well attended by over a hundred participants both online and onsite including Professorates, Faculty, Staff and Students of the Department of Agricultural Science.