November 2017

As it appeared in the Daily Nation on November 28th, 2017 A few years back, one of the media houses would broadcast price comparisons of a few basic commodities between the four large retail chains. The four large retailers then were Nakumatt, Uchumi, Tusky and Naivas. Ever since, the retail space in Kenya has undergone tremendously change. We have not only seen the decline of Nakumatt and Uchumi but we have seen a major expansion of other local retail chains such as Chandarana, Quickmart, Magunas among others. Small single store neighbourhood retailers have also sprouted within the residential areas. We have also witnessed the entry into the Kenyan market of two major global retail chains Carrefour and Game. Since the price comparisons by the media house ceased, the question is who among all these retailers has maintained the lowest price? Does any of the retailers have a low cost low prices strategy? Do the single store…

As it appeared in the Daily Nation on November 21st, 2017 Sometimes in business, the going gets tough. The more I speak to entrepreneurs and to business leaders, the more I realize that almost every business either has gone through some tough times or is currently going through a tough spell. Tough times could result from the inside or the outside of the business environment. The departure of a key executive, the loss of a major account, an unexpected crisis in production or in delivery, failure in a new product, unforeseen cash flow crisis, a new entry into the market, technology that has suddenly gone obsolete, a new government regulation, an economic downturn, an unfavourable political environment. All these and more could lead to tough times. If your business has never gone through a tough time, you are in the minority. When going through tough times in businesses, I believe that the most important thing is…

As it appeared in the Daily Nation on November 14th, 2017 Do you work in a family business? What do you think about the future of your organization? Like many other people, I have had the opportunity of working in a family business. The large company where I worked for almost 2 years already had three generations involved in its operations. The second generation was actively involved in the management of the business; their founding father was getting frail and the third generation was just getting off college. In addition to the members of the founder’s family, there were other relatives working in the business. When I look back, this business would not have survived the death of its founder had it not brought in professional managers. Most large corporations started as family businesses and some have retained family control. According to the inc.com encyclopaedia, family businesses are the oldest form of business organization and are…

As it appeared in the Daily Nation on November 7th, 2017 Employee involvement or engagement is key to business success. This is because employees are at the center of everything that happens in organizations. It is employees that help businesses meet their set objectives. Employees especially those in the frontline often know what is going on well and what is dragging their businesses backwards. The direct participation of all employees in an organization allows them an opportunity to apply their skills in decision making, in problem solving and in moving their organizations forward. Without employees, organizations would not function and without their involvement organizations move at a slower pace. Employee involvement should happen throughout the life of business, not only when there are burning issues to sort out but also when business is running smoothly. I have witnessed organizations where staff are involved and organizations where staff are ignored. The difference in such organizations is evident.…