Is Radical Economic Transformation just about having a good business plan?

Is Radical Economic Transformation just about having a good business plan?

There is much talk at the moment especially, here in South Africa, about ‘Radical Economic Transformation.’ Whether, from a political point of view, it is just a smoke-screen for the pretty radical economic disempowerment taking place through ‘state capture’, is debatable, but there is no doubt that there is a need for things to be transformed economically on a pretty large scale and the National development plan is an essential component of future economic growth ….providing it has been well thought out and planned! So, in this article we look at the question “Is Radical Economic Transformation just about having a good business plan?”

There are many ideas and suggestions that have been put forward regarding righting the country’s woes, but this article takes a look at Radical Economic Transformation on a general level as well – because to achieve Radical Economic Transformation as a country, we need to achieve it on a personal and business level too! What we believe is that the country and we as business people can both attain this status, but the principles of a good business plan need to be applied to it.

To explain this, let’s unpack the term ‘Radical Economic Transformation’ to understand what it really means and show how a detailed Business plan can meet each requirement…

Radical – To do things in a big way – We are likely to remain on a pretty small level if we don’t have big plans. We need to attract ‘Angel’ investors to become worthwhile players in a highly competitive business World. These investors need to see our plans for the future … what are our goals and objectives and most importantly our actual capabilities?  Do we have good ideas for growth and change within our industry (or country)? All these are addressed and established in an effective business plan.

Economic – Handling money matters effectively – Every key role player in the country, or in any business, needs to have a comprehensive understanding of the financials of the business, the status of the cash flow and the potential for growth and investment. What is it that will attract loans or other input from investors? Are our economic predictions based on sound economic principles? All these factors play a role and are addressed when planning is done correctly.

Transformation – Making positive change – This can only be achieved through clear objectives for change in both the short and long term. It is definitely not achieved by ‘robbing Peter to pay Paul’ I.E taking from the financially sound aspects of your business (or country) to try to uphold the weaker aspects. The weaker aspects need to be addressed and improved on so that change is holistic and permeates throughout the business (or country).

These are just a few positive examples to clearly show that Radical Economic Transformation really is just about having a good business plan! Contact us to learn more about how you can empower your business and your country with a solid Business plan and make your own rapid, effective Radical Economic Transformation!