Financial Management : Constraints of growth-oriented enterprises
Financial Management : Constraints of growth-oriented enterprises
In the focus group discussions, it became quite clear that many of the financial problems raised would not best be addressed by additional capital resources, but by better financial management. Cash-flow problems are quite common. There are also several leakages as a consequence of poor credit management, theft/fraud and not using resources efficiently enough. In general, the financial management problems boils down to a lack of systematic use of record-keeping and being able to monitor and interpret these records so that the appropriate action may be taken. This problem is compounded by what appears to be a relatively poor understanding of the macroeconomic context among the majority of business leaders. The mechanisms behind interest and exchange rate fluctuations are for example quite often poorly understood. This is likely to have an impact on their ability to plan for the future. To grow, enterprises thus must develop better systems for financial management and obtain an adequate understanding of economics so that they may develop better ideas on what the future might hold.
Constraints of growth-oriented enterprises in the southern and eastern African region
Journal of Developmental Entrepreneurship, Oct 2002 by Trulsson, Per
Financial Management Constraints of growthoriented enterprises - To learn more about this author, visit Journal of Development Entrepreneurship's Website.
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Whereas the enterprise managers are well aware of the importance of external finance, they seem to underestimate the importance of financial management. This is an issue that the entrepreneurs did not raise directly themselves as a constraint, but something that was deduced from analyzing the empirical data.
In the focus group discussions, it became quite clear that many of the financial problems raised would not best be addressed by additional capital resources, but by better financial management. Cash-flow problems are quite common. There are also several leakages as a consequence of poor credit management, theft/fraud and not using resources efficiently enough. In general, the financial management problems boils down to a lack of systematic use of record-keeping and being able to monitor and interpret these records so that the appropriate action may be taken. This problem is compounded by what appears to be a relatively poor understanding of the macroeconomic context among the majority of business leaders. The mechanisms behind interest and exchange rate fluctuations are for example quite often poorly understood. This is likely to have an impact on their ability to plan for the future. To grow, enterprises thus must develop better systems for financial management and obtain an adequate understanding of economics so that they may develop better ideas on what the future might hold.
Constraints of growth-oriented enterprises in the southern and eastern African region
Journal of Developmental Entrepreneurship, Oct 2002 by Trulsson, Per
Financial Management Constraints of growthoriented enterprises - To learn more about this author, visit Journal of Development Entrepreneurship's Website.
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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Dave KurlanDave Kurlan is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
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Cheryl MatthynssensCheryl is a life skills coach, licensed Chemical Dependency Counselor and a 20 year entrepreneur. Cheryl's dedication to achieving a life of balance led to her expanding her teaching from the simple managing of life's daily challenges to adding financial well being as well. A direct marketer with DrinkACT, she is gaining ground in the online community with her concepts of making sure business owners, entreprenuers and employees have well rounded life styles. She opened up a small affiliate site - The Balance Guide- to help others find resources for mental and emotional well being. Visit Cheryl's blog to see more of the diversity beyond business she has began offering online at www.thebalanceguide.blogspot.com - Visit Cheryl Matthynssens's Website |
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Linda RichardsonLinda Richardson is the Founder and Executive Chairwoman of Richardson, a global sales training and performance improvement company. As a recognized leader in the industry, she has won the coveted Stevie Award for Lifetime Achievement in Sales Excellence and she was identified by Training Industry, Inc. as one of the “Top 20 Most Influential Training Professionals.” Ms. Richardson is credited with the movement to Consultative Selling and is the author of ten books on selling and sales management, including Sales Coaching — Making the Great Leap from Sales Manager to Sales Coach, and Stop Telling, Start Selling. She teaches sales and management at the Wharton Graduate School of the University of Pennsylvania and the Wharton Executive Development Center. Linda is a frequent speaker at industry and client conferences, has been published extensively in industry and training journals, and has been featured in numerous publications, including The Wall Street Journal, Forbes, Nation’s Business, Selling Power, Success, and The Conference Board Magazine. Learn more about Richardson's sales training and performance improvement solutions at http://www.richardson.com web - Visit Linda Richardson's Website |
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Stephanie RobeyStephanie Robey is President and CoFounder of Pivot Positive, LLC - an Internet marketing business focused on helping people start work at home ventures. Previously, she was employed at The Search Agency with over 20 years experience in graphic design and 10 years experience in online marketing. She was responsible for launching the Conversion Path Optimization (CPO) unit where she and her team have conducted hundreds of optimization tests for online companies across multiple verticals. She is a successful entrepreneur having started and sold 2 companies and remains on the board of directors of the third, PhotoSpin.com Stephanie began her career in the direct marketing realm creating and producing direct mail for many of the major cable television companies and directly attributes her understanding of Internet marketing to those early offline experiences. Stephanie is a graduate of San Diego State University with a BFA in Graphic Arts and also holds an Executive MBA from the Graziadio School of Business and Management at Pepperdine University. Read Steph's Blog Meet Steph and Dave Sign up for our Free 7-Day BootCamp: Self Employed & Rich - Visit Stephanie Robey's Website |
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