Narrow-minded entrepreneurs bound to fail

Entrepreneurs and managers of firms cannot afford to remain in the dark, especially given the rapidly changing trends and the advent of increased innovation, Festus William Amoyaw, Portfolio Manager at Acumen Fund Incorporated, has advised.

He emphasised that “entrepreneurs have to read” and expand their horizon in order to be abreast of their industry and beyond to adopt techniques that will prevent their firms from losing in the face of competition.

Mr Amoyaw, who was a guest on the Thinking Ahead series on Class91.3FM on Tuesday June 27, told host Moro Awudu that setting up a business was important but it was equally critical to learn ways in managing the business to remain viable.

Mr Amoyaw, a member of the Association of Chartered Certified Accountants (ACCA), also outlined the need for good supervisory structures for firms as operations expand, a reason why most reputable and world-class firms have boards.

“That is why companies, listed and non-listed, all have board of directors, even government institutions, because it is important and relevant for you to last as a business,” he added.

The Thinking Ahead series airs every Tuesday on Class FM’s Executive Breakfast Show from 9:00am to 9:45am and takes the form of a brief presentation of the specific subject matter under discussion while listeners are allowed to contribute and ask questions on the subject.

ACCA is the global body for professional accountants and aims to offer business-relevant, first-choice qualifications to people of application, ability, and ambition around the world who seek a rewarding career in accountancy, finance, and management.