The Sunday Mail
Every now and then, it seems as if clarity evades us in business. I mean are we not supposed to be going through an economic revolution? Is that not the reality of our economy going into 2015?
Perhaps certain businesses were not informed or maybe it seemed like a political joke to some, but I worry that as entrepreneurs and industrialists we fail to comprehend the implications of an economic revolution, specifically on how we should perceive our environment.
Politics is never separate from the economy and it can never be.
If an entrepreneur or industrialist is under such a misguided perception, I can only offer one excuse; “they do not teach economic revolutions in business school,” they really don’t.
So at one’s own complacency, they can hold on to that.
Under such a perception, the entrepreneur and industrialist will wait for a “regular” economic environment.
One that avails all the academic characteristics of what a functional economy is supposed to be. This kind of industrialist and entrepreneur will wait for familiarity and certainty, all the while playing second fiddle to policymakers who conventionally have mandate to create a sort of “model” economy.
However, take heed, such men and women will not survive in Zimbabwe.
It is evident that they are not surviving right now and as we enter 2015 they will more likely than not face economic extinction.
The truth of the matter is that Zimbabwe is not an economic safe haven of familiarity, conformity and conventional economics. There is no such revolution.
It cannot be created by such and definitely not by the aforementioned economic agents.
Ours has been and will be into the foreseeable future, an economy that seeks to avail common citizens with economic self-determination, empowerment and fair opportunity.
All these ideals are against a backdrop of an unfavourable economic history. That is the road we have chosen to walk. Such an economic revolution is mutually exclusive to conventional economic expectations. Thus, it is only the visionary, politically inclined and socially aware entrepreneurs and industrialists who will survive in our environment and ultimately create the realisation of our national ambitions.
These have become necessary competencies for any entrepreneur and industrialist to thrive in Zimbabwe. What do I mean precisely? Well, while President Mugabe has called out an ethos for all, very few will have the aptitude to create its manifestation.
You would be hard pressed to find an African country whose industrial productivity, natural resource wealth and economic determination are at the discretion and control of the local majority.
It may be a subject that creates discomfort for many of us, but does it lack the truth?
An impartial observer can appreciate that creating such an environment is a herculean task across the continent, both politically and economically.
However, so far in political ethos and policy implementation we have overtly dared to chase ambitions to create such an environment over here.
So we must ask, what do such national aspirations demand of our entrepreneurs and industrialists? Is there a role to play?
Perhaps even more appealing to our capitalistic instincts of self-interest and personal economic gain, how can we entrepreneurs and industrialists survive and prosper economically within such national pursuits?
Well, there are certain perceptions that we must possess and bring into our economy.
First, we need to pursue creative disruption to get a competitive edge.
A visionary economic agent will seek to create innovative means that take into consideration the economic environment.
One has to understand what factors of production exist in Zimbabwe and whether they are competitive locally and globally with the intentions of creating a desirable and competitive market offering.
For instance, our manufacturing sector is largely uncompetitive such that even imports are better than our local goods in terms of quality and price.
Whoever finds new means of production that cater to this challenge will benefit handsomely. Socially, such an astute individual will create high standard employment realising one of our revolutionary ideals.
Second, there is need to create new markets. Zimbabwe has got plenty of opportunities that needs exploration.
As we struggle to avail a high standard of service delivery and attend to basic human necessities, opportunity presents itself as there is demand for value. Take for example residential water tanks.
It seems an entire industry has been created due to city councils failure to deliver regular supply of clean water.
It is often said that Zimbabwe has become a small market for engineers and craftsmen. I believe in the opposite. Most of our problems right now are opportunities for mechanically inclined individuals and craftsmen.
Third, there is need to create new infrastructure. Mobile money is an immediate example. As liquidity and financial inclusion have been an issue in our country, mobile money has become a desirable platform on the market.
If we are looking at creating a new economy with progressive means of doing business, we need to avail market solutions that are broad based and have utility. A bonus point is that as institutions and structures made up of entrepreneurs and industrialists, we must open the economy internally. This means our capital availability, legislation, and business standards must create a fair competitive environment.
We must allow under performers to go bust if need be. We must not seek to retain outdated business models and offer unwarranted reverence to traditional enterprise.
It is necessary to start rewarding ideas, solutions and modern cutting edge ways of business. I believe that these four perceptions must exist in our mindsets across the economy; from our political hierarchy to state structures, down to the micro economic agent. Now, it would be very naïve to suggest that I am saying that our present economic circumstance is requisite for our chosen economic aspirations.
Of course we have suffered from mismanagement, corruption and systemic decay of some of our structures. Also, certain perceptions I have offered are indeed idealistic and far much easier said than done.
But therein lays the opportunity of wealth. Entrepreneurs and industrialists build their empires off creating that which seemed impossible and finding solutions to that which appeared difficult.
So the challenge is there, where will you as an entrepreneur and industrialist stake your claim and find your profit along this economic revolution?
The Zimbabwean economy is not going to be a conventional economy any time soon. We are not a textbook economy, nor do we intend to be. To the shrewd, politically inclined and socially aware, this means there is money to be made!
