Ideally, entrepreneurs should possess abundant creativity. However, things are often not as straightforward. Usually, one encounters inflexibility and bureaucracy. We discuss issues that need to be addressed in the process of introducing a more creative entrepreneurial culture.
Read more →
Under systems theory, the administration function performs important activities to first define systems and procedures. Secondly, communication is vital for interrelation of the parts. Third is monitoring and controlling. Information, relevant and up-to-date is needed to drive strategic decisions and lastly, systems must be setup to meet statutory duties.
Read more →
In a previous post, we’ve looked at how to create a successful business plan. But what is the value of business planning? Should you do it? Find out 18 helpful ways that business planning can add value to your existing or potential venture.
Read more →
Who is an entrepreneur? What does entrepreneurship constitute? Knowledge of influences on the incidence of entrepreneurship and entrepreneur performance is useful in many ways. In this article, we examine 3 broad categories that define the entrepreneur and entrepreneurship.
Read more →
In the previous post, we established the difficulties in constituting definitions of entrepreneurship. In this article, we explore three eras of entrepreneurship in Tanzania. This historical context begins during colonial times, goes through independence, socialism, and finally, the current industrial economy era.
Read more →
In this post, we’ll look at management accounting and its objectives. What are the distinctions between management accounting and other forms of accounting? We’ll also briefly explore cost accounting and cost ascertainment.
Read more →
In this article on financial statements, we explore the regulatory framework, users of financial statements, purposes of financial statements, qualitative characteristics of financial statements, components of financial statements and the balance sheet.
Read more →
In this article on business and company law, we explore the Companies Acts of Tanzania and Uganda along the following four components: pre-incorporation contracts, the ultra-vires role (contracts beyond powers of the company), numbers of directors and members. At the end of this post, we establish which act is more progressive.
Read more →