March issue by Sanjay SB Patel

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March 2014 livemarketzone.com

 Do we really need Indigenisation and Economic Empowerment ????

 Does Entrepreneurship Beneﬁt Zimbabwe???  Three Rules to Live By????

liv e D o w e r e a l l y n e e d Indigenisation and Economic Empowerment ?? BY Sanjay B. Patel (Sanjspiration –“Born to Inspire you reach your Desire”) IS IT THE BEST AVENUE TO TAKE FOR BOTH OUR SHORT AND LONG TERM SUCCESS AS A NATION? DO WE REALLY NEED INDIGENIZATION AND ECONOMIC EMPOWERMENT, NOW OR INN THE FUTURE? Shortly after the land reform programme , the indigenization and economic empowerment programme has predictably stirred a lot of emotion within the national fabric .The very same arguments that came up with the advent of the land reform have once again been resuscitated . Most feel there is need for such a policy ,but have reservations over the implementation modalities .Questions abound as to who stands to beneﬁt ,and the capacity of the indigenous to buy shareholding in the affected entities is also seriously under question. Everyone wants at the same stage in their lives, to be their own boss. Master over their destiny and in control over an income stream that is exclusively theirs. Equally, everyone wants to live in a mansion, have many people at their beck and call. Never want for anything without being able to satisfy that want. The harsh reality of life is that for most people, these will remain ideals which will never see the light of day. IF WE ARE ALL MASTERS, THEN WHO WILL BE THE SERVANTS? The Zimbabwean scenario primarily calls for interventions that lift the general people's lives above the struggle to meet basic needs, and this is what most policymakers should take note of. Indigenization is A GREAT INITIATIVE, however for the future of Zimbabwe and not now, as we cannot meet our basic needs and hence will not even be able to meet the needs that come along with the responsibility that indigenization

March 2014 livemarketzone.com brings and which are more demanding in terms of sacrifice and living than just meeting the basic needs of ones life, and hence this is the core want of every Zimbabwean today. The most successful nations where entrepreneurship is flourishing as indicators, the ratio of employers to employees has generally been found to be around 1:10.In other words, for every person who has a shot at the dream mentioned above, there are nine people under them not living the dream. Hence, according to this ratio it means for every person or successful indigenous person there are one million three hundred thousand people under hem not living their dream.(1 300 000),therefore it is better to satisfy the greater figures needs which is just to meet basic needs of living. This ratio obviously deteriorates in the more industrialized and less enterpreniual countries where there are more large corporations. But DOES IT MEAN THAT THESE OTHERS ARE DISSATISFIED WITH THEIR LOT IN LIFE? I beg to differ, as many of us are satisfied as long as we meet our basic requirements. A b r a h a m M a s l o w, a t w e n t i e t h c e n t u r y psychologist, developed what has become a cornerstone of business management school: the Maslow's hierarchy of needs. It basically attempts to lineate the order in which people yearn for certain things. It states that peoples needs (food, water, reproduction), then move to safety needs (clothing, shelter, health) followed by social need (love, belonging, friendship, family), esteem (confidence, respect, achievement) and finally self –actualization (problem solving, lack of prejudice, creativity, morality, spontaneity). Maslow argued that in general, a human being should master the requirements of a certain level before a higher level has appeal to them. In other words, before a person will seek social acceptance, they want to be well-fed and clothed first . (continued on page 3)

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ikewise, confidence and respect are often only earned as a result of achieving self-sufficiency in the areas of shelter and feeding self and family. Expectations do occur, however, for instance monks and nuns may achieve spiritual enlightenment (self-actualization) despite deliberately avoiding some of the lower level needs. Zimbabweans are characteristically known as hardworking, proud achievers. They want to excel and shine in whatever field of endeavor they are found in, they certainly seek recognition for such achievements. Even for those who are not so academically gifted, they prefer to sell juice cards and vegetables to earn a living than beg, steal or resort to such other vices. The typical Zimbabweans life fits snugly into the definition of human needs as outlined by Maslow. Back to the Zimbabwean situation, unemployment figures are currently said to fall anywhere between 80 and 90 percent. For the 10 and 20 percent that is employed ,average wages are significantly below the poverty datum line of around Us$512.00 per month .Indeed, it is a public secret that many enterprises are failing to meet their payroll obligations as they fall due. The informal sector, though large, is also known to be struggling and wages can confidently be assumed to be below what is prevailing in the formal sector. Over 95 percent of Zimbabweans are living below the poverty datum line, which represents the minimum amount needed to meet the first two needs (physiological and safety needs), hence this is where our policy makers should address. Indigenization and economic empowerment require individuals who have achieved security and status, and are now looking at life's ideals: empowering others, expressing their creativity, freeing their lives from the bandage of routine work. Certainly, not individuals battling with the issues of day to day survival, which is the case for 95percent of us in Zimbabwe. In societies where entrepreneurship is flourishing, only ten percent are employers, while in Zimbabwe, less than five percent of our population are theoretically capable of becoming employers, based purely on the needs driving their existence .Being an employer has its own burdens and even

March 2014 livemarketzone.com amongst those who may have risen to the highest ranks, only a fraction are willing to take on the risk and associated strain. The ability to meet compliance issues, liabilities and obligations attaching to certain actions, the need for a wide diversity of skills, being able to handle losses and even the aptitude to do business are all things that make business ownership a walk in a mineﬁeld, particularly in a depressed economy, which very few Zimbabweans are capable of handling currently, hence, less than one percent of the population will be interested in becoming shareholders. Employment creation is a globally acknowledged means of ensuring we as a nation lift the general people's lives above the struggle to meet their basic needs. This is why unemployment statistics are crucial pieces of information to booth developed and developing countries. How many times have you heard statistics of the number of new entrepreneurs/shareholders? Giving/buying people shares is also not meaningful for someone looking for monthly income to survive, when companies only pay dividends at best biannually, and often not at all. The quantum of dividends is also not meaningful for most people, if all you hold is a handful of shares. Employment creation on the other hand will directly address the pressing needs for the 95 percent plus alluded to above .It will enable them to stand proudly among others(which currently they cannot do because of their desperate poverty),and to start aspiring for esteem and self –actualization. Only then will it make sense to embark on an indigenization drive. I am sure by then, even that will not be necessary, for the self – actualized individual feels more joy from achieving than from being given(or stealing).Conclusively, this is what we as Zimbabweans should strive for, and our nation will rise.

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March 2014 livemarketzone.com

(Sanjspiration –“Born to Inspire you reach your Desire”)

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March 2014 livemarketzone.com

oes Entrepreneurship Beneﬁt Zimbabwe??

BY Sanjay B. Patel (Sanjspiration –“Born to Inspire you reach your Desire”) Indeed entrepreneurship is beneficial to Zimbabwe, in four ways namely; it will increase the productivity levels, introduce competition which benefits Zimbabweans, enable risk taking initiatives and enable more exportation of our local goods and services. The sector employs over 5.7million people, which translates to over 72% of adult population, and there are over 2,8million business owners with over 3.8milliojn businesses, hence if all of these are legally registered and contributing their yearly payments in the form of taxes, we will have very high productivity levels and be self-sustaining not only as an individual but also as a nation. Entrepreneurs are the catalysts of innovation, job creation, productivity, competitiveness and economic growth. \ Turnover generated from the sme's sector was equivalent to a6t least 68% of the local gross domestic product and 71%of these sme businesses are individually owned, whilst 29%(800 000) are businesses with employees ,policymakers would get much better results i9f they targeted policies and resources to the 71% majority who are more likely to create sustainable and productive employment ,eliminating the high levels of unemployment creating a competitive robust economy making them the true engines of our economic growth and revival. Every household in Zimbabwe is involved with the sme 's se cto r o n a d a i l y b a si s, w h i ch i s entrepreneurship, this will definitely enable our country to start exporting to regional and international markets, as well as embark on import substitution which will have a greater positive impact on the improvement of liquidity in the local market, which then has a dominos effect in the revitalization of our industrial and manufacturing sectors.

Entrepreneurship is crucial as it will enable us to out compete our regional counterparts su8ch as Zambia ,Drc ,Botswana etc. and reclaim our “Breadbasket “ status in the region, making us efficient and able to deliver lower priced and better quality products to our regional counterparts ,which then makes our products easily available on their local markets ,which then implies that money is going to flow into our economy at the expense of their hard earned foreign currency ,hence our economy will not be stagnant as it is now. The benefits of entrepreneurship to our people and the nation are endless. However, what is an entrepreneur? Or what does it take for one to become an entrepreneur? One may ask .The answer is very simple, you need to start being driven by your passion in order to succeed .Entrepreneurs are people who have something which they trade; you can be an airtime entrepreneur. Building a successful enterprise is no stroll in the park. It is like getting physically fit .Muscles never grows overnight .It takes long hours of the right physical training, a good diet and self – discipline. If you do not do it right you will not get the right results .Entrepreneurs are not born they are made.

Lastly, let's go enterpreniual; explore opportunities that are within your reach, something that sounds funny might be your enterpreniual fortune. Normally the real life problems you face are your opportunities to explore entrepreneurship, RISE AND SHINE ZIMBABWE!!!!!!!!!!!!

See your Ad here email kim@livemarketzone.com

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March 2014 livemarketzone.com

(Sanjspiration –“Born to Inspire you reach your Desire”)

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March 2014 livemarketzone.com

hree Rules To Live By!!!!!.

BY Sanjay B. Patel (Sanjspiration –“Born to Inspire you reach your Desire”)

These three rules can apply to virtually every area of our existence – work, ﬁnances, love, etc. 1. Don't promise when you're happy. When we promise something, we're making a commitment to do something, no matter what. Promises need to be thoroughly considered and not made at the peak (or valley) of emotion. If we make promises when we're happy, we may be overly (and unrealistically) optimistic about what we can commit to. Always keep your word. Be a person of honour. If you say that you will do something, do it. If you make a promise, keep it. If you make a commitment, fulﬁl it. Be known as the kind of person that can be trusted absolutely, no matter what the circumstances. 2. Don't reply when you're angry. Once words are spoken, they can never be taken back. Angry words can cause irreparable damage. When we speak in anger, we may be impulsive and not take the time to sensor our comments. When we are upset, we need to give ourselves a cooling off period -- then we can calmly respond without our emotions taking control. 3. Don't decide when you're sad. Poor decisions are the result of poor judgment. And poor judgment can be a direct outcome of strong emotions. When we're feeling sad (or angry or hopeless), we're prone to make decisions from a place of desperation. And then we have to live with the outcome of these poor decisions. Let's use these rules to live by starting today. They will save us from future headaches!!!!!!!!.

See your Ad here email kim@livemarketzone.com

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