Page 85 - Msingi Afrika Magazine Issue 15

Economy

Making Profits for a Purpose At the same time, they are realistic is difficult for African business peo-
One of the dominant characteristics and grounded in their family values. ple to enter into long-term relation-
of all the business owners we inter- They informed us about how im- ships. They also find it difficult to
viewed is their unyielding optimism. portant it is for them to assess their enter into credit arrangements with
They believe that the African busi- personal capabilities before plunging one another when doing business.
ness environment provides many into business. They also underscore People simply do not trust one an-
opportunities, but also challenges. the importance of making realistic other. The lack of trust imposes ad-
To them, success depends on the assessments of the demands that ditional costs on businesses, includ-
ability to see the opportunities and the entrepreneurial life will make ing shortages of critical inputs and
the courage to face the challenges on their families and the usefulness non-delivery of goods to customers.
within the operational environment. of cultivating the support of the African business owners, therefore,
Remarkably, they do not base their family in business endeavors. These generally see the contract enforce-
entrepreneurial intentions on pure assessments help entrepreneurs to ment challenges as normal risks of
economistic self-interest – i.e. mak- keep their business perspectives in doing business. Research has also
ing a lot of money for the sake of sharper focus and guide them as to demonstrated that, when business
being rich. Rather, they are guided what they need to do from the onset owners understand and appreciate
by a self-transcendence motive that in order to succeed. one another’s viewpoints, they are
enjoins them to make profits for able to arrive at working consensus
a purpose. They see their business Using Resources Efficiently and manage their relationships more
goals as linked to a desire to create and Effectively effectively. The trust they build re-
value and make life meaningful for They are aware that they must be duces the amount of resources that
themselves and other Africans. With both efficient and effective in their they spend on monitoring activities
such a focus, they are able to devel- business decisions and practices. of one another. This, therefore,
op an inner motivation and tenacity Efficiency here refers to doing reduces the cost of operations and
to weather the storms of building things in a right manner – obtaining enhances business performance.
viable businesses and designing maximum output with minimum The high performing entrepreneurs
winning strategies. resources. Effectiveness relates to in our study are keenly aware of this
the vision and mission that entrepre- challenge. They have developed the
Being growth and action-ori- neurs have for their businesses, i.e. capability of identifying trustworthy
ented what kind of outcome they desire partners. In situations where trust
They describe themselves more as from their business efforts, based on seems weak, they have been able
“doers” rather than “dreamers”. their values and beliefs. This means to nurture this trust by being more
They are action-oriented people; they must demonstrate excellence accepting and supportive of their
they want to start producing results in their operational performance partners, thereby encouraging them
immediately. The number or severity as well as strategic management to reciprocate their trust. However,
of the problems they encounter decisions. Their decisions usually they are aware that trust is a risky
do not intimidate them. In fact, result in having operational costs proposition and, therefore, not
their self-confidence and general under control. In addition to this, appropriate in all situations. Their
optimism seem to translate into a they ensure that their employees are experiences have taught them that
view that nothing is impossible in well aware of the tasks they have to there are times when it is inadvisable
business – goals may sometimes perform and are willing to do their to show high levels of openness and
just take a little longer to achieve. utmost to complete the tasks in a share resources or let down one’s
They tend to work with a stubborn timely manner. This means most of guard.
tenacity to solve difficult problems. their employees show high levels of
Unlike most people, these entrepre- commitment and morale, and the Engaging in Lifetime Learn-
neurs do not allow themselves to be long-term goals and vision of the ing and Motivating Employees
concerned with failure. They do not businesses become a source of in- It is often said that significant
think so much about what they are spiration and energy for their work. challenges or problems in the lives
going to do if they do not make it. of entrepreneurs trigger transforma-
They rather focus their thoughts and Finding Trustworthy Business tional or re-generative learning. Suc-
energy on what they have to do to Partners cessful African entrepreneurs face
succeed. Studies of business relations in many challenges and these provide
many African countries show that it them with useful learning situations,

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