Business Doctors Zambia set to open doors for business in April
March 24th, 2016
The Lusaka area has over 100,000 active SMEs. These include limited liability companies and profit co-operatives. The SMEs operate in diverse industries such as manufacturing, construction, transport, service industries, retail, etc. It is appreciated that each of these industries is unique in its own right.
Business Doctors Zambia (Lusaka Area) will focus on providing professional services in the following four key areas:
- Business Strategy.
- Supplier Development.
Business Doctors will initially establish solid strategic alliances with the four major commercial banks; Zambia National Commercial Bank, STANBIC Bank, FNB Zambia and Bank ABC. The other strategic partnerships will include business associations such as the Chamber for Small and Medium Business Associations of Zambia, Chamber of Commerce and Industry, Zambia Association of Manufacturers, and the National Council for Construction. The strategic partnerships are important as marketing and communication platforms as well as sources of data and other business information.
The broad outline of the Business Doctors Zambia approach to providing the services under the four areas listed above is as follows:
Industries are unique in that they face challenges that are not necessarily identical to other industries within the same economic setting. Therefore Business Doctors Zambia will at an early stage gather and evaluate information on specific industries through the strategic partners to develop a feel of the conditions and environmental factors affecting each industry. A PESTLE analysis will be conducted on the major industries to provide the basis for analysis of individual businesses.
The individual businesses have specific challenges and needs. The first activity will be a health check on a client business. This will be followed up by detailed SWOT analysis incorporating resource and capability analysis as well as identifying and evaluating a business’s possible source of competitive advantage. A growth plan will be developed using the firm’s resources and capabilities as the platform.
The resource and capability development will inevitably require finance. Business Doctors will having evaluated the firm’s needs assist in designing the appropriate structure, organization, management and financial systems required to improve the business’s “state of health.” Whether it is a complete turnaround strategy required or additional investment in form of private equity, venture capital or short-term funding, Business Doctors’ approach will be to get the business into a “state of health” which enables it access the various types of finance.
Business Doctors will assist SMEs develop appropriate marketing plans and implementation strategies to ensure sustainability. The focus will be on enabling the SMEs create customer value, satisfaction and loyalty. The Business Doctors method will emphasize setting product strategy, including designing and preparing a plan to manage the associated services, exploring methods of SMEs delivering value through integrated marketing channels as well as communicating value through advertising, sales promotions, events and experiences and public relations.
Business Doctors will identify opportunities for SMEs to access supplier development opportunities offered by larger local and multi-national businesses, international agencies and government programs. Business Doctors will target specific institutions with a business interest in developing small local businesses. These will include the Export and Import Bank of China, International Fund for Agricultural Development and Zambian Government SME development programs through the Industrial and Development Corporation. The role of Business Doctors will be to deliver the required training and coaching.