BY DR FARAI CHIGORA
In an apparently long-term journey towards a renewed sense and approach to entrepreneurship anchored in industrialization, we focus in this article on the crucial stage of setting up the local PEOPLE model by placing “organization” in all the other variables of the model. It has become a term that has lost most of its stature due to familiarity, as the saying goes, familiarity breeds contempt. Yet it is at the center of the existence of any business.
This part of the PEOPLE model needs to be unpacked in its broad sense and its effectiveness as an insurer for a sustainable and rewarding business. Companies must consider this “organization” as a constituent, a multi-sequence igniter in their value propositions. It is not only based on a consolidation of for-profit business activities, but a systemic approach and proposals are made available for their optimal, sustainable and synergistic results.
This cog is a propeller for engineering and corporate reengineering that constitute formulas and solutions for start-ups and growing companies. We have to find a balance between what we have and what we shouldn’t have. However, we generally find a situation of limited cohesion towards the construction of a competitive company. This has been a major obstacle to efforts to build capacity in the creation of competitive businesses. In this regard, entrepreneurs should claim a space that produces fortunes for future generations. The opportunity cost is prohibitive in this misalignment, so many operations are a waste. The reasons for such a state of affairs are the systematic and destructive thread of greed, corruption, bribes, embezzlement.
There is therefore a need for a workforce without gender discrimination as another prerequisite for an effective organization.
The organization is essential in this perspective because it brings not only efficiency, but also diversity, a sharing of experience and a large margin of innovation and creativity. All functional activities appear to be confined to one person, with the owner being the director, manager, operator and executor of all activities. Of course, in many cases this is justified by the need to reduce labor costs, but it is factual that the costs of not having a break-even are higher than those that are bypassed. Some considerations to keep in this campaign are the compelling need for succession planning (as discussed in the last edition). If this is not necessarily viable to apply to the advent of new technologies, whether through the establishment of efficient techno-structures and their implementation.
A number of graduates at all levels find it difficult to access internships, yet we have this workforce / skills gap in most companies. It is high time to consider hiring accountants, engineers, doctors and all the skills needed to build real successful businesses. The role of government is to encourage both owners and qualified graduates to think in unison towards such an organization. Not everyone can start and run their own business, some qualified graduates are comfortable being hired as professionals (supervisors, managers and executives) but most of the existing policies are clearly inclined to be your own employer , let’s also give space as we industrialize. It is imperative to think of this “organization” as an amalgamation of different dreams rather than being so short-sighted that everyone wants to be an entrepreneur, some rewarding themselves to be professional supporters of visionaries.
Capitalization is another cog in the organization, although obviously many start-ups and growing companies have generalized it to involve a single dimension of book management. To be truly enterprising it is necessary to think beyond the balance of the books into a real investment through various business explorations and to delve deep into the strategies of the blue ocean i.e. a type of high risk, high return investment mindset. This implies the need to focus on investment decisions rather than recurring consumer behaviors in order to maintain the ethics of entrepreneurship. Regardless of the industry, it has turned out to be a custom to borrow in the name of doing business, but the money is then spent on extravagance – flashy car purchases, vacations and other selfish activities. This is one of the reasons for the failure. At the top of an organization are lobbying and regulatory bodies to facilitate the right mindset through direct and indirect incubation of any aspiring entrepreneur. Instead of just capitalization through borrowing and the consequences of misuse, let these owners keep in mind that there are different sources of capitalization. Take an in-depth look at what is best for your type of business rather than just following a certain bandwagon. Lenders are not shy about injecting business capital, but it comes at the cost of the possibility of a hostile takeover of the business as capital investors defend their interests.
The “entrepreneurial mindset” is more important in this organization through PEOPLE and in an effort to transform local business ownership for industrialization. The term has been generalized to its dictionary connotations. It is the cornerstone of building a smart business towards Vision 2030 and beyond. All of these are key fragmented elements of the recipe for successful organization and industrialization. The ultimate success or rupture is the mastery of the entrepreneurial spirit. Rather, our entrepreneurs fragment these issues of land use / capacity, capital / finance and labor / skills into silos. The world’s biggest winners focused on combining these for greater shareholder value. Entrepreneurship isn’t just about avoiding risk by creating and managing one, it’s that mindset of going beyond pooling resources and aligning them for more profit.
Prompting through real audits
Our corporate efforts have been interrupted by neglect in handling incentives (whether borrowed or given). Instead of converting them into sustainable investments, they have been diverted to consumption.
Capacity modeling requirement
Capacity utilization has been overlooked as one of the challenges of developing a real organization by many start-ups. Knowing your shoe size is the very first step in making purchasing decisions. It takes all relevant actors in public-private partnerships (PPP) to develop and install user-friendly matrices as a checklist in modeling business capacity.
Skills / technology audit
If this can be considered a practice, even future generations will surely learn for industrialization rather than for substance use and rehabilitation. There is an outcry from many being unemployed instead yet highly skilled.
Consolidated management and structuring of companies
This can take the form of interventions aimed at balancing key issues which include type of business, possible source of funding, capacity needs and mode of delivery (whether human / technology intensive) .
A collaborative effort must be made to bring about the emergence of more clinical capitalization communities to periodically thermo-control and discuss this organization. This helps to understand the right source (s), partnerships, and sustainable financing suited to a specific area of your business.
- Dr Farai Chigora is a businessman and scholar. He is the Head of Business Sciences at the College of Business, Peace, Leadership and Governance at Africa University. His doctoral research focused on business administration (Destination Marketing and Branding Specialization, Ukzn, SA). He can be contacted for feedback to [email protected], WhatsApp mobile: +263772886871.