Diaspora Matters

So as an Entrepreneur you have many stakeholders that are affected by your business. From customers, Tax Authorities, Suppliers, Business Associations and Banks. For your business to be successful, you will have to learn to manage all of these stakeholders because they can either make or break your business. If you treat your customers badly then they will move on to the next competitor-the result is an obvious drop in profits. If you fail to manage relations with suppliers-when you develop the habit of paying late, then you are likely to be asked to pay cash up front and this can be costly especially in the current environment where hard cash is not easy to obtain. If you fail to settle your tax bills then you run the risk of paying penalties.

So the bottom line is that you have to manage relations with your stakeholders. So who is a stakeholder? My loose definition is that of anyone affected or interested in your business. Someone who can either make or break it. Someone may not even be your customer or buy your goods but can easily send malicious information about your business that can destroy it . Take for example the story of Andy Muridzo-most of the people talking about his recent affair with Bev are not his fans, some have never heard about his music, few have ever attended his shows but are interested parties in blasting him for his affair with sister Bev. This is the power of stakeholders-even those not remotely linked with your business can easily take an interest should something of interest related to your business come up. You may be forced to respond to a malicious Facebook post about your business because it can destroy your business.

Example of Stakeholders for Butchery

Lets assume you operate a butchery in the city centre, the city can be Lusaka, Lilongwe or Harare. So for this butchery lets find who can be a stakeholder.

1. Employees
2. Customers
3. Suppliers
4. City Health Department
5. Workers Union
6. The lessor who owns the property
7. Neighbouring business owners
8. Tax Authorities
9. SME Associations
10. Banks
11. Shareholders
12. Members of the Public
13. The Government

So as you can see there are plenty of them and each party has a different interest in your business. Banks would be primarily interested in how well you are doing so that you can pay back their loans, Tax Authorities would be interested in whether you are paying taxes timeously. Customers will obviously be interested in the price and quality of meat.

Now in practice its very easy to concentrate on one stakeholder or a few and forget other critical stakeholders. You can concentrate on customers at the expense of the Health Department requirements or concentrate on shareholders at the expense of employees. This is usually the case during emergencies or periods of crisis which often lead to more crisis.

In next article, we will look closely at how to manage stakeholders and we are going to use a tool called The Mendelow Matrix, you can google search it for reference. We are going to look at the practical side of managing stakeholders. In the meantime you can draft your own list of stakeholders that affect your business. You can even draft a list of stakeholders that affect you as an individual-your employers,inlaws,relatives,neighbours,church,friends etc. Find out how well you are doing in terms of managing your personal relations and make a plan to improve.

ZBIN Wishes You a Fabulous Weekend

We share with you some top business quotes from the continent of Africa. The quotes were originally posted by one of our favourite business websites, ‘How we made it in Africa’. The site is arguably Africa’s best website for Entrepreneurs. We have added Mutumwa Mawere and Strive Masiyiwa to the list of quotes at number 22 and 23.

 1. “Discipline yourself, pay yourself a salary, and whatever other revenue you generate, put it back into the company. Do this for at least the first five to eight years before you start looking to buy a Lamborghini.” – Basilio Makendengue, co-founder of NomeX in Equatorial Guinea

2. “It is all about creating value for customers. And if you can’t do that, then you shouldn’t be in business.” – Nadir Khamissa, South African entrepreneur and co-founder of Hello Group

3. “Entrepreneurship does take a toll on your social life. You are always focused on the business, thinking about work, even when you’ve taken time off to unwind… You need to be passionate about what you are doing. Then you need to have a purpose – for me it’s building a legacy and having a positive influence in society. Then you need perseverance to stick through the tough times; a plan to get you where you want to go; and good people to walk with you.” – Trushar Khetia, CEO of Society Stores in Kenya.

4. “I don’t think there is ever a right time. A lot of times an entrepreneur has to make a decision and make a move. If you keep waiting for the right time, which means the safest time, you might wait forever.” – Carole Mandi, founder of Carole Mandi Media Limited in Kenya

5. “As an entrepreneur I believe that no one can do it all. Never try to be a jack of all trades. But the lesson I’ve learned the hard way was never count on someone else to make your business a success. It’s your dream, your passion. If you want to succeed you have to make it happen. Don’t try and do it all yourself but be involved.” – Johan Meyer, Nambian entrepreneur and founder of Wallettec

6. “There is always an alternative way to doing things and it might end up being simpler, easier and cheaper than conventional ways. So as long as you have that mindset you will be able to innovate. And if you have passion, it will drive you through the whole difficult process of bringing it to success.” – Olufemi Odeleye, founder of Tryctor in Nigeria

7. “We have had a lot of issues in the past with people we have worked with because people over-promise and under-deliver. So the biggest lesson has been to always do a trial run before entering into a formal relationship.” – Moira Johnston, co-founder of EventRoom in South Africa

8. “The first lesson I learned was that patience and perseverance overcome mountains. Niger, like some other markets, is nascent and complex. The lack of frameworks, infrastructure and information demands a lot of patience in dealing with setbacks and delays. What truly defines success in such challenging markets is the ability to recreate oneself from one failure to another.” – Rohan Garg, co-founder of Belvie in Niger

9. “Entrepreneurs have to learn the power of networking and the value of mentorship, as these are the things that most entrepreneurs take for granted. And also they must know that opportunities will not come to them; they have to go out there and create them by knocking on corporate doors with proposals. Personally, I am where I am because of a business mentor who changed the way I see things.” – Anda Maqanda, founder of AM Group in South Africa

10. “Surround yourself with people that really believe in you… I found, especially when I was working while starting this business, that there will be moments when you are really down, scared or worried, and just aren’t ready for some of the challenges and the setbacks. It demands a lot of patience and courage, but that courage comes from the people around you.” – Saheel Shah, co-founder of Adpack in Kenya

11. “I think the first mistake we made was thinking we could be our own accountants. We did not hire an accountant right away and that led to some mistakes in our financial system as we mixed up personal and company resources.” – Pascal Murasira, co-founder of snack label Winnaz in Rwanda

12. “[Entrepreneurs] need to get a business plan. And that is a term that is easily misunderstood. People think this is a sheet of paper that people go the internet and download and fill in the gaps. What they need to do is outline their business. You need to understand what you are selling, who you are selling to, why people will buy from you and how much people will pay you.” – Kehinde Oyeleke, founder of Seedvest in Nigeria

13. “Life is about having something to give in order for you to receive. And what is it that you have? You’ve got the brains, the intellectual capital and that will actually open many doors for you. So the first capital that you need, more than money, is intellectual capital.” – Lufefe Nomjana, founder of Espinaca Innovations in South Africa

14. “I have had to be very meticulous with my time, very disciplined, and forfeiting some things like going out with friends on a Friday night. It is challenging but it is worth it. I don’t think of my business as a side hustle. It is something I do with a lot of passion and I am working towards building a sustainable business.” – Sharon Njavika, founder of Ajani Handmade in Kenya

15. “Sometimes you fix one problem and another arises. So you have to be focused, be flexible, and be willing to adapt to changes. Going into employment can be tempting – but I stay put knowing that I will achieve my goals one day, even if it takes 10 years.” – Sam Turyatunga, founder of Tursam Investments in Uganda

16. “Our biggest mistake was perfectionism. For months, we did not want to go out without having a perfect and fully-finished product. But we realised that our main source of improvement would be customers’ reviews. And thus we decided to go out with a MVP [minimal viable product] and gather customer feedback. This made us progress a lot more quickly and efficiently.” – Ted Boulou, founder of Somtou in Cameroon

17. “The secret is in paying your debts. When an investor or a bank gives you their money, just pay it back. They will trust you and help you in future. Even with suppliers, if you build a tradition of paying on time, one day when you’re in trouble they’ll be willing to wait because they know you’re not a conman…. Do not get caught up in trying to impress people with things you can’t afford. Don’t take all your profits and buy a big car to show off. I have been able to work with the same investor, and grow my business because I don’t waste funds trying to live a life that’s not yet mine. I believe any money saved is money earned.” – Obado Obadoh, founder of Café Deli and Delicatessen in Kenya

18. “You can’t succeed if you don’t start. Start your idea with friends and family being your focus group. Also make sure the market is in need of your product and then push ahead. In Africa it’s key to have connections in place. Make sure you build them… The further you can take the idea yourself the easier it will get funded – and the more fundable you will become for investors. It’s a journey worth taking because you contribute towards Africa’s success while building your own – and that’s a journey filled with joy.” – Chris Folayan, founder of Mall for Africa

19. “Younger people are always in a hurry to do things. They want to become billionaires in two years, but in another two years, they collapse. That is why I always advise business people that only time allows you to [get there].” – Mike Mlombwa, founder of Countrywide Car Hire in Malawi

20. “No matter how good a product you have, still in Africa it is your reputation that counts.” – Ivan Mbowa, co-founder of Umati Capital in Kenya

21. “There will be a lot of obstacles on the way. But I never look at failure as failure – I look at it as: ‘What have I learnt from what happened – so that next time I can do things better?’” – Alfredo Jones, founder of Alduco in Equatorial Guinea

22. Never disclose a deal until its clinched –Mutumwa Mawere, Zimbabwe

23. “Integrity is better capital than money. You can accumulate it just like money, and you can use it just like money, but it goes further, and is enduring.”

Mulibwanji…So ZBIN has a lot of members who are based in the Warm Heart of Africa-Malawi. We have an inquiry from one of the ZBIN members based in Lilongwe, she would like to invest in a business but is not sure of what to invest in.

ZBIN Response

Its important to look at the following factors. Malawi is enjoying stability and a steady Economic growth, there is a rising middle class, tourist arrivals show an increase and lastly Donors are back slowly pouring in a lot of Donor Funding.

Middle Class Analysis

You can look at the Middle Class in Malawi and find out what they are spending their monies on. Building houses, education for children, importation and servicing of vehicles (Malawi has a lot of Ex Jap cars like Mozambique, Zambia and Zimbabwe). Analyse patterns of what is happening with this class of people, change in tastes, new trends and find out how and where to invest in.

Tourist Services

Statistics show that the number of tourists coming to Malawi is increasing. Tourists will need accommodation (currently expensive), they need transportation and a lot of services. Look closely at this sector and find possible gaps to invest in.

NGO Needs

Hundreds of US Dollar Millions are being invested in Malawi on a yearly basis. Some of the monies are channelled through the Government and some through independent Non-Governmental Organisations. Most of the funds brought into the country are being spend on the Health, Agriculture, Energy and other Social sectors. Do take a closer look at who is supplying these donors with supplies. If it is health related then they may need various kits, training materials etc. Who is providing these NGOs with accommodation, transport and other services? One good source of information is newspapers-look at all tenders advertised in newspapers and analyse them. It’s a big sector in Malawi and should provide you with a lot of opportunities. We encourage you to create a list of the major donors in Malawi, find out their plans for the next couple of years and the amount of money they will be invetsting. This information will help you in planning on the NGO sectors to invest in.

We wish you the best

I have analysed information from the website www.classifieds.co.zw of all high density area properties in the major cities of Zimbabwe and results show that there is not much difference in prices. Properties in Harare maybe slightly higher in areas such as Warren Park and Budiroro but for the rest in Harare, they compare favourably with all prices found across Zimbabwe.

There is not much difference between a 7 bedroomed house in Glenview and a similar one in Mkoba. Not much separates the value of a property in Chitungwiza and a similar one in Nketa. The case is however different when it comes to low density properties where there is a gulf in difference between Harare and the rest of the country. We will analyse the difference in future but for now we concentrate on where most people live in urban areas-the high density areas.

Below are price ranges of high density homes as advertised on www.classifieds.co.zw

Harare-$35,000 will get you a house in Glenview, Glen Norah, Kuwadzana,Budiriro

Bulawayo-$25,000-$35,000 Nketa,Emakhandeni,Nkulumane,Pumula South and Mpopoma

Mutare-$25,000-35,000- Dangamvura,Chikanga.

Midands-$25,000-$35,000-Mbizo,Mkoba,Senga,Nehosho,

Masvingo-$25.000-$35,000-Runyararo,Rujeko, Mucheke

Possible Reasons

Mkoba: This writer is not a Real Estate guru so my reasons here should be taken with a pinch of salt. Mkoba could be heavily affected by the demand for accommodation by the Midlands State University where thousands of students require off campus accommodation. But how about Mbizo? Its difficult to pinpoint the reasons for Mbizo having high prices-is it the small scale  miners impact?

Dangamvura: Mutare seems to go pound for pound with other cities, there is no university in Dangamvura that affect prices-so why the high values? Can we factor in the diamond era which once distorted prices in this beautiful city?

Conclusion

Dear reader, I certainly do not have solid facts as to why prices are the way they are. My best escape maybe to say its Demand and Supply Stupid! Feel free to offer possible reasons for the price similarities of high density real estate in Zimbabwe. Next time we hope to look at low density real estate and any new developments in the sector

In my last post on investment, I gave you important advice on critical steps to take before considering investing. You do not just go and pour in monies in a project without sufficient information about the profitability of the project. I said you need to study the macro economic environment, the industry, geo-political issues, the markets and trends, level of competition and policy issues. I also mentioned the importance of engaging consultants or having access to investment reports or market surveys.

Industry Analysis

This morning we will cover industry analysis-an important area because you would like to know about an industry as a whole, developments in the industry, competitors in the industry and lastly whether there is room for new entrants who can make money in the industry. I will try and make this as simple as possible so that everyone can benefit from the information.

Transport Kombi Sector: Let’s say you would like to start a kombi business. At a higher industry level you are going to need information such as:

ü  The number of kombis on the road at national level

ü  The number of kombis plying your targeted route

ü  Most profitable routes in your city

ü  The kombi vehicle models in demand

ü  Amount of money collected per day by kombis

ü  Kombi sector developments in Zambia, Malawi or South Africa

ü  Buy to rent models

ü  At national level, operational issues such as cost and availability of fuel, cost and availability of spare parts

ü  Any developments in terms of Lorries or private cars ferrying passengers?

ü  Government Policy regarding kombis-are there proposed changes

ü  Substitutes-You may want to know whether buses will be reintroduced on roads, any developments on the railway sector. Number of cars imported per year. Number of mshikashika entering your targeted route.

ü  Number of people buying or entering the kombi business. Why are they entering the sector?

ü  Number of people exiting the kombi business, why are they leaving? What are the trends in terms of exiting kombi business?

ü  Road Fines-how much is each kombi paying per day? Is the figure increasing or decreasing?

ü  Toll gates? Are there plans to introduce more toll gates?

So this is just a brief analysis of the kombi industry-you will need to have this basic information before plunging head on to invest in the industry. ZBIN will be providing you with an example of the Kombi Industry in the next 3 weeks.

So there you are investors- the message remains Do Not Invest Without Enough Information. Some of the information can be found from our Watsapp forums where our members are always discussing business ideas on a daily basis.

With a Diaspora population almost equaling that at home, Jamaica is committed to engaging its Diaspora, concentrated in the United States, Canada and the United Kingdom. The almost (US) $2 billion that Jamaicans send home annually is the largest earner of foreign exchange in Jamaica. Yet it is only one aspect of support by Jamaicans abroad to their island home. Both the Government of Jamaica and its Diaspora have forged a formal partnership, whose mission is to realize the goals of the country’s national agenda. Hence, Jamaicans abroad play a role in many key aspects of society, such as healthcare, education, investment and trade, and tourism. The Government of Jamaica launched its formal Diaspora initiative in 2003 under the auspices of the Ministry of Foreign Affairs
and Foreign Trade within which the Diaspora and Consular Affairs Division was established. Foreign missions, i.e., consulates, embassies, and high commissions, are the bridges to the Diaspora. They implement Diaspora strategies and programs in the host countries.

A network of Diaspora Chairs, known as the Jamaican Diaspora Advisory Board, in the United States, Canada and the United Kingdom, advises the Jamaican and Foreign Trade on the staging of a biennial Diaspora convention. The convention brings together each Jamaican Diaspora location, including alumni associations, interest groups in healthcare, education and business, foundations, and social groups ranging from cricket to domino clubs. Conference objectives include placing on record the country’s appreciation for contributions made by Jamaicans residing abroad to national development; using the conference to involve Jamaicans overseas more comprehensively in the economic, social, political and cultural aspects; and to develop the necessary structures to strengthen the relationship between the two groups.

The following are highlights of Jamaican Diaspora Engagement initiatives:
Health: Medical missions are a key component of the Jamaican Diaspora contribution to Jamaica’s health care system. These missions whose delegations comprise a diverse team of physicians, dentists, nurses and volunteers from these countries, provide much-needed medical services and supplies that would otherwise not be readily available to Jamaica, especially in the more rural, isolated Jamaican communities and parishes. A Committee comprising prominent friends of Jamaica, Jamaican business leaders and physicians, is focused on developing a public/private partnership model to support major health care projects in Jamaica, such as the building of health clinics in rural Jamaica.
Education:  The Union of Jamaican Alumni Associations (USA) Inc. (UJAA) is a nonprofit umbrella organization comprised of alumni associations that include Jamaican primary, secondary and tertiary educational institutions. The Jamaican Diasporan community strongly supports Jamaica’s education with 50 formal alumni organizations in the Northeastern U.S. alone. They organize fund raising initiatives and social events and contribute to Jamaica’s schools with state-of-the-art equipment and supplies, such as books, computers, pencils, paper and other important school-related materials. n ‘Handbook for Jamaican Students Entering Schools in the United States of America’. The UJAA-published Handbook was developed to assist the U.S. public educational community – primary and secondary school teachers, many based in New York City and Connecticut, in gaining a fuller understanding of the public school system in Jamaica and to better evaluate and raise academic standards for newly arrived students emigrating from Jamaica. The Handbook contains a description of schools, types of examinations and terminology unique to Jamaica’s school system. n Special School Teacher Trips: The UJAA organizes special trips, where Jamaican school teachers in the U.S. can meet their peers or counterparts in Jamaica and hopefully gain a better understanding of Jamaica’s school system and the environment and culture that Jamaican students are emigrating from.

Global diaspora skills database initiative: The absence of a well-populated and current database of Jamaican nationals has been a huge challenge. To that end, The Diaspora Foundation in Jamaica is spearheading the development of a global database of Jamaican nationals – with a focus on garnering information on the professional skills of its Diaspora. The database will be an information reservoir for the Jamaican government and the private sector that will include professionals in technology, healthcare, accounting, financial services and business.
Critical conversation series: In an effort to share ideas, learn about best practices and discuss challenges and successes of the Jamaican Diaspora initiative, the New York Consulate collaborates with the Diaspora Advisory Board, NE to undertake a series of conversations uniting Jamaican community leaders and representatives from other foreign missions charged with Diaspora affairs. Topics of interest include: how to strategically use community organizations, engaging young Diasporans in community activity and the role of the Diaspora to attract trade and investment, leveraging remittances for sustainable development.

Online interactive community events calendar and organizational database: Launched by the Consulate General of Jamaica, N.Y., the site includes a monthly
listing, detailing important special events, including annual banquets, cultural programs, fundraisers and other activities hosted by Diaspora organizations for the Diaspora community. More than 150 Jamaican community organizations in the Tri-State area (New York, New Jersey and Connecticut) are represented, as well as some 50 alumni groups in New York.

Source: Conjenjamaica-ny.org

Many people are not aware of the benefits of registering their companies. Whenever the subject crops up the number one fear expressed by most entrepreneurs is paying tax. Few entrepreneurs are interested in paying tax and most will do the best they can to avoid ZIMRA and NSSA. This is one of the major reasons why most would rather remain backyard and not register their businesses. The sad part though is they do not know the opportunity cost of being unregistered.

Can you imagine what would have happened to Strive Masiyiwa if he had wanted to dodge paying taxes? Would Econet be around if Masiyiwa had wanted to remain underground without attracting the attention of the Zimbabwe Revenue Authority? He formally registered Econet and attracted a lot of investors who poured in money into his business, this is how Econet grew.

So be low we will try and summarise some of the major advantages that can accrue to your business when you formally register it.

1.Separate Legal Identity and Limited Liability: A limited company has a legal existence separate from management and its members (the shareholders).The protection given by limited liability is perhaps the most important advantage of incorporation. The members’ only liability is for the amount unpaid on their shares. Since most private companies issue shares as “fully paid”, if things go wrong, a members’ only loss is the value of the shares and any loans made to the company. Personal assets are not put at risk. The protection of limited liability does not, however, apply to fraud. Company directors have a legal duty not to incur liabilities in their companies which they have reason to believe the company may not be able to pay. If creditors lose money through director fraud, the directors’ personal liability is without limit.

2.Continuity

Once formed, a company has everlasting life. Directors, management and employees act as agent of the company. If they leave, retire, die – the company remains in existence. A company can only be terminated by winding up, liquidation or other order of the courts or Registrar of Companies

3.New Shareholders and Investors can be easily introduced

The issue, transfer or sale of shares is a relatively straightforward process – although existing shareholders are protected via their “preemption” rights and by company legislation that seeks to protect the interests of minority investors.

4.Ability to access credit: Banks prefer extending credit facilities to registered companies. Your chances of getting a loan become higher when you are registered, when you can show that you company is a law abiding citizen who pays taxes and comply to all relevant local laws.

5.Access to tenders: This is is my favourite, have you ever seen tender adverts? I urge you to look closely at the requirements on adverts for tenders. The first requirement is that you should submit certifications of registration; you will be required to show tax compliance certificates. So if you would like to participate in tenders and compete against other companies then make sure that you have your ‘papers’ in order and this includes registration and tax compliance. The big monies are on tenders for the supply of goods or services and rarely do they consider applicants who are not registered.

So there you are good folks, you have more to lose by not registering your company! In the next article we will explore various options available to you for registering your company. We will provide all the resources of various service providers who assist with company registration and their costs.

So the Mining Sector is one of the richest field to venture into especially gold mining. It is unfortunately one of the riskiest fields where many new investors lose money. This is the sector with the most thieves so tread with care. Do not rush to invest simply because you have seen someone making it or have heard of rich pickings by your friends who are doing mining. Exercise caution, obtain all the relevant information, verify information before you part with a penny.

ZBIN Initiative

We would like to reduce the risk of making losses in the sector by provision of quality information. Within the group we have a number of Mining Consultants who are willing to provide information to potential investors. Consultants who are willing to provide information on getting relevant permits, pegging, access to credit, mining equipment etc These consultants are also able to provide information on trends in the mining sector, opportunities and risks.

The consultants will be willing to provide this information for a fee. So if you would like to find basic information they should be able to provide this at a nominal fee. Having information will help save your time and other resources.

Inviting Mining Consultants

The ZBIN Community is therefore inviting Mining Consultants to register by leaving their details below. We will send you a questionnaire which you have to fill. We will make follow ups with you so that we can certify you as a Mining Consultant who can provide services to our community.

We are looking forward to certifying at least 10 Mining Consultants from the ZBIN Community. Our members will be asked to continuously provide feedback on the performance of the consultants. Members would be asked to rate the consultants in terms of fees, quality of information provided and customer service.

So if you are a consultant we are asking you to provide the following details:

Name:

Email Address

Contact Phone

Location

Thank you

Last year an audit company called HLB Ruzengwe and Company was engaged by The Zimbabwe Revenue Authority (ZIMRA) to carry out a forensic audit on ZIMRA operations. The auditors produced a damning report which showed that some of the top employees of the authority were involved in corruption. A number of those implicated were suspended or fired and this included top management. The auditor report was widely publicised with members of public providing input on proposed corrective actions. We provided input on the need to establish a whistle blowing facility. A facility where members of public can submit evidence of ZIMRA employees engaging in corruption. A facility where you can phone, send an email or simply walk in with evidence.

The importance of this initiative being to reduce corruption through reporting. We believe that corruption should be reported and action taken against corrupt officials. Now the good news is that ZIMRA has established a Whistle Blowing facility where members of the public are invited to provide information anonymously.

ZIMRA last week started flighting an advert on local television inviting members of the public to report on any corrupt activities by ZIMRA officials- we call this excellent stuff!

Why is this Excellent News?

This means that members of public are now involved in the fight against corruption by ZIMRA Officials. This will bring accountability of all funds collected; the hope is that this will reduce corruption. Corruption by nature is difficult to eliminate but this measure will make it difficult for officials working for ZIMRA to engage in fraud because they may not know who will report them. Members of public are now empowered to report on corruption because they know where to report it!

Suggestions to ZIMRA

We feel that the Whistle Blowing Facility can be improved because only a few people have access to news. This writer has seen the advert twice but failed to get the email address of where to send concerns or information.

1. Official Launch: This important milestone should be officially launched by the Minister of Finance as this will show commitment to fighting corruption. The official launch would show that the facility receives support from ministerial level. Members of public are likely to give support when they see high level support.
2. Why Report Corruption: The Message should be clear on corruption. Why fight corruption? What happens when there is corruption? Why report corruption and how to do it? The public should understand why this is being done so that they can own the initiative. Benefits of fighting corruption should be clearly articulated.
3. Construct Bill Boards: ZIMRA should consider constructing large bill boards and place them at all border posts. The bill boards should clearly provide details of where to send information on corruption
4. Use of ZIMRA Website: The ZIMRA website www.zimra.co.zw should have details of where to report fraud
5. Facebook Page: ZRP has a Facebook Page where they engage members of the public. We would like to encourage ZIMRA to create a page where they can engage members of the public on the corruption fight
6. Radio Adverts: The current situation of only using the television to flight adverts is leaving out many people especially those in rural areas. We therefore encourage the use of radios such as Radio Zimbabwe so that the message can reach more people.
7. Radio Programmes: In addition to radio and television adverts, they engage members of the public by running radio or television programmes where they engage members of the public through phone in sessions, quiz and prizes
8. Report on Fraud: ZIMRA does an excellent job of reporting performance every quarter, they are not afraid to report on underperformance too. They can add a section on the report to report on Fraud. The number of anonymous tips received, cases reported for disciplinary action or number of employees implicated or relieved of their duties etc. This will give evidence to members of public that the whistle blowing facility is working.

We hope that ZIMRA will consider some of our recommendations because the fight against corruption involves working with everyone. The television advert is a good starting point, more should be done to sensitise and engage the public.

One of the must know business tools or techniques is the SWOT Analysis technique. SWOT (strengths, weaknesses, opportunities and threats) analysis can help you identify and understand key issues affecting your business.

When you have a big business decision to make, one of the smartest things you can do during the planning process is conduct a SWOT analysis. It is an analytical framework that can help your company face its greatest challenges and find its most promising new markets.

SWOT analysis enables organizations to identify both internal and external influences. SWOT’s primary objective is to help organizations develop a full awareness of all the factors involved in a decision. It is impossible to accurately map out a small business’s future without first evaluating it from all angles, which includes an exhaustive look at all internal and external resources and threats.

A SWOT analysis focuses entirely on the four elements namely Strengths, Weaknesses, Opportunities and Threats.

Strengths and Weaknesses: These are the internal factors within an organization.

• Human resources – staff, volunteers, board members, target population
• Physical resources – your location, building, equipment
• Financial – grants, funding agencies, other sources of income
• Activities and processes – programs you run, systems you employ
• Past experiences – building blocks for learning and success, your reputation in the community
• Current processes, such as employee programs, department hierarchies and software

Opportunities and Threats: These are external factors stemming from community or societal forces.

• Future trends in your field or the culture
• The economy – local, national, or international
• Funding sources – foundations, donors, legislatures
• Demographics – changes in the age, race, gender, culture of those you serve or in your area
• The physical environment
• Legislation
• Local, national, or international events
• Market trends, like new products and technology or shifts in audience needs
• Political, environmental and economic regulations

Below is an illustration of a quick SWOT Analysis of The Zimbabwe Business Ideas and Network.

So what next after drafting a SWOT Analysis document?

Your next step should be to come up with an Action Plan which will guide you in terms of follow up strategies. For instance you may want to take advantage of your strengths or take an advantage of emerging opportunities in your environment. You can come up with top priority areas to action, who will be responsible for what  and when. Make it a practice to always review and update your document. You can even include this document whenever you are reviewing your monthly financial performance

We hope to bring you  more Management Tools and next week we tackle Financial Performance.