In a thought-provoking speech delivered at the Building Enduring Businesses Conference, Chief Alhassan Andani – the Founder and Executive Chairman of LVS Africa Limited – emphasised the need for a shift in mindset when it comes to understanding enterprises and their potential for driving economic growth.
He urged individuals and governments to recognise the role of enterprises as living, organic problem-solvers, and stressed the need for deliberate orchestration of their development.
Andani stated: “The enterprise, the world is ruled by enterprise and we just tend to be very small in our thinking around enterprises. And again, we can’t quite make out the function of enterprises as living, organic problem-solvers”.
He emphasised that enterprises evolve and take on a life of their own, with various stakeholders such as customers, workers and governments having rights and interests.
Drawing examples from around the world, Andani highlighted how countries like South Korea and the United States have effectively orchestrated the development of enterprises. He noted that despite South Korea’s limited natural resources, it boasts some of the leading global brands – which were meticulously constructed by the state. In contrast, the United States has embraced free enterprise – allowing individuals to orchestrate their business ventures globally.
Andani questioned why Africa has been reluctant to harness its ability to orchestrate enterprise development. He argued that by confining businesses within national borders, the continent limits their growth potential. Instead, he advocated for enterprises to transcend jurisdictions – citing multinational corporations like MTN, Barclays, Shell and Total as examples of companies that operate globally. Andani emphasised that enterprises are not confined by government limitations, and urged individuals and governments to be deliberate in promoting enterprise development.
Theodore Albright, partner with LVS Africa and managing consultant for the Family Office Africa, also shared his insights during the conference. Albright emphasised the importance of mindset, team composition and strategic planning in building enduring businesses. He urged entrepreneurs to cultivate curiosity, adaptability and an intentional playbook with strategies.
Albright highlighted the significance of assembling a team of scientists rather than settling for a team of talkers. He cautioned against restricting team-members’ autonomy, purpose and mastery, which could lead to ineffective leadership. Albright stressed the need for curiosity, adaptability and an intentional playbook to guide enterprises toward success.
He emphasised that strategies should not be one-size-fits-all, and encouraged entrepreneurs to be adaptable and open to different approaches. Albright acknowledged that execution is often more challenging than strategy, and emphasised the importance of thoroughly considering potential barriers and challenges.
Chief Alhassan Andani and Theodore Albright both emphasised the need for deliberate government orchestration of enterprises and the importance of mindset, team composition and strategic planning in building enduring businesses.
The Building Enduring Businesses Conference aims to foster a shift in mindset and encourage deliberate actions to orchestrate the development of enterprises in Africa. By recognising the potential of enterprises to solve global problems and transcend jurisdictional limitations, African countries can pave the way for sustainable economic growth and the emergence of global African brands.
