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MTN awards loyal customers in ‘Taking Over Promo’

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MTN Ghana, has awarded four brand new Hyundai vehicles to the first set of winners in the “MTN 4G Taking Over” promotion.

The first presentation was done at the Graphic road branch of MTN in Accra.

In all about 28 customers received various prizes in the promotion. Eight customers received Ghs 5,000 each and another eight got Ghs 2,000 each, while others also won brand new iPhone 8 and Samsung S8. Another eight customers also took home 4G Y5 handsets.

Addressing the media, Senior Specialist at the Consumer Segment of MTN, Maxwell Arthur said the promotion was to appreciate loyal MTN customers who use the 4G network.

He explained that winners were selected based on how often they use their airtime to call, text, browse as well as their constant MTN mobile money transactions.

“The MTN 4 G Taking Over promotion is simply a usage based promotion where customers accrue points based on all network usage. So every pesewa a customer spends on the network, MTN rewards you with a point. There is no need for any subscription”, he said.

The MTN ‘4G Taking Over Promo’ is a five-month promotion which started in January 2018 and is expected to end in May.

COPEC demands scraping of Special Petroleum Tax

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The Chamber of Petroleum Consumers (COPEC) has called on government to scrap the Special Petroleum Tax (SPT) and other levies that have made the cost of petroleum products in the countryshoot up.

According to the chamber, the SPTspecifically has outlived its purpose and has now become a nuisance tax.

“We are mindful of several avoidable taxes on the petroleum pricing build up, and we want the government to do a downward review…considering now that it is making income gains with the surge in world market prices.

“We call for the immediate removal of this particular tax and others as contained in our earlier petition to the president, so as to reduce unnecessary pressure on our pockets and stabilise the incomes of Ghanaian workers,” Vice Chairman of the COPEC Council, Solomon Kotei, told journalists in Tema.

Data released by the chamber show that fuel prices in Ghana are relatively higher than across the sub-region and among other petroleum producing countries.

While a gallon of petrol costs between GH₵7.74 and GH₵15.27 in countries such as Egypt, Algeria, Nigeria, Dubai, USA and Russia, the same litre goes for GH₵20.83 in the country.

“Some of these countries produce oil while others don’t; but they are clearly not overcharging their people by way of taxes to push pump-prices above pockets,” Mr. Koteiemphasised.

Even though the SPT was reviewed downward from 17.5percent to 15percent in the 2017 budget, the chamber opines that the reduction was “simply mathematical” and does not reflect reality on the ground because consumers are now paying even more for the commodity.

Instead of what the chamber sees to be an over-dependence on petroleum taxation, Mr. Kotei suggests that government must introduce new and ingenious ways of expanding the tax bracket to attract more revenue for its development programmes.

This, he said, will offer some relief to Ghanaians, as it will “ease the pressure on our pockets” and bring about some stability.

“Hikes in petroleum prices are generally associated with hardships, hence the need to scale-down some of the taxes choking the current price build-up.

“The net effect of these rampant increases in pump-prices goes with the surge in prices of foodstuffs, goods and services, as well as import duties and inflation…basic necessities of life keep shooting up in the face of rather stagnant and meagre incomes and salaries of Ghanaianworkers.”

Gov’t to reinforce quarantine activities at borders to check FAW

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Government is to reinforce quarantine activities at the country’s various entry points to prevent invasions of the Fall Army Worm (FAW) affecting agricultural production, Deputy Minister of Food and Agriculture (MOFA) Dr. Sagre Bambangi, has said.

“Government is determined to deepen its awareness and sensitisation campaigns as well strengthen the national pest surveillance system to provide early warning and emergency responses to avert invasion of the farmlands this year,” he said.

The minister announced this at a training workshop for some selected media personnel on the effective reporting of Fall Army Warm (FAW) incidence in Tamale, the Northern Regional capital.

The event – organised by the Agric Ministry in collaboration with the Department of Agriculture, the Ghana Agricultural Development and Value Chain Enhancement (ADVANCE) II of USAID and the Plant Protection and Regulatory Services (PPRSD) – was to provide an opportunity for media personnel to share experiences and information on how to address the issue of FAW.

The beneficiaries selected from the three regions of the north are to collaborate with the Department of Agriculture and Ministry of Food and Agriculture, to create awareness on early detection of the worms so as to avoid any losses this year.

According to the Deputy Minister, in response to the outbreak government released an emergency fund of GH15.8million in 2017.

“Due to   the vigilance and hard work of the ministry and taskforce, the effect was minimised significantly – having only a negligible impact on food security in the country,” he said.

He stressed that the ministry will collaborate with researchers to conduct research into biological control as a medium- to long-term means of managing the pest.

He said a capacity building programme for farmers and agricultural extension agents on early detection and management of FAW will be held to educate them.

The Deputy Director of PPRSD, Mr. Ebenezer Aboagye, said the potential impact of FAW is particularly high due to the large amount of maize, rice and sorghum being grown; and so it will require medium and longer-term responses and actions to address the immediate emergency farmers are facing.

“The ability to handle the worms with care can help achieve targetted yields for the farmers to feed the nation and also sell the rest to generate revenue,” he said.

Gov’t to establish mechanisation centres for easy access to tractors 

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The Deputy Minister of Food and Agriculture, Mr. George Oduro, has reiterated government’s commitment to establish mechanisation centres across the country to make it easier for farmers to access tractors.

The centres, with input devices, will be ready before June-July 2018, he said.

“Government has observed the farmers’ needs, hence the establishment and acquiring of things needed by farmers before the planting season,” he stated.

He announced this during a working visit to the Gushegu Municipality of the Northern Region to assess the progress of government support during the farming season.

Government, he said, is collating data from the harvest of farmers across the country to determine which areas need more warehouses.

He said the old ones constructed by the Cocobod are being rehabilitated to assist the perennial challenge farmers face in storing their produce after harvest.

Some farmers within the Gushegu Municipality expressed worry over lack of warehouses, which they said has compelled them to keep their farm produce in the only warehouse available – it also houses bags of fertiliser, a situation that could make the produce harmful when consumed.

“We are not happy to mix food with fertilizer, but the conditions compelled us to keep the fertiliser and grains in the warehouse,” they stated.

They have therefore appealed to government for more warehouses to store their farm produce so as to prevent any theft or destruction by bush-fire.

“We have some locations earmarked for constructing the warehouse, and if government can come to our aid to construct it, that will help farmers store their produce to prevent theft,” they said.

“Despite the increased yields by farmers in the 2018 harvest season with support of input devices and others under government’s flagship ‘Planting for Food and Jobs’ (PFJ), we are challenged with storage facilities and markets for the produce,” said the warehouse Manager, Mustapha Zak.

According to him, introduction of the buffer stock has helped farmers to get better prices – while it has also taken care of middlemen along the chain who used to cheat farmers.

About 4,585 bags of maize, Soya bean, millet, groundnut and rice produced by the farmers are in stock at a warehouse in Gushegu, he said.

Another farmer, Mahama Osman, said but for the invasion of Fall Army Worm, he and his fellow farmers would have harvested a lot more this season.

“I was able to harvest 240 bags of rice, 40 bags of maize and 50 bags of soybean this season, as compared to the 120 bags of rice, 30-35 bags of maize and 30-40 bags of soya bean previously,” he stated.

Cocobod eyes Chinese market

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Ghana Cocoa Board (Cocobod) is vigorously exploring prospects in the Chinese market for the country’s premium cocoa products, for which reason meetings have been ongoing between the two sides.

Cocobod also plans to make a good showing at the maiden China International Import Exposition to be held in Shanghai from November 5, 2018 to November 10, 2018.

“A team from the Cocobod has already met officials at the Chinese Embassy; we have, again, met in Accra and our officers have started putting things together and it is because Cocobod wants to enter and explore the huge Chinese market for the cocoa products,” Noah Kwesi Amenyah, Cocobod’s Public Affairs Manager, told the B&FT.

“We want to send into that market value added cocoa products and not just raw beans; it will be good for us to get the Chinese public to know that Ghana’s cocoa is the best and it has a lot of nutritional and health benefits and therefore they have to patronise it,” he said.

Although China’s individual chocolate consumption is considered still low, less than 5% of what major lovers munch in the west, market research firm Ebrun reports that the market for chocolate in China is expected to grow in value to 40 billion yuan (US$6.2 billion) by 2020.

Ghana’s main export destinations are the Netherlands, with a market share of 12.88%, France 11.6% and USA 10.9%.

France and USA grew significantly during 2012-2016. Exports to France, especially, reached high growth rates. With an average annual growth of +23% over 2012-2016, the country became the second largest Ghanaian export destination.

Exports to Spain and Belgium remained quite stable during 2012-2016, with export values between US$5-40 million.

Total exports of cocoa products from Ghana amounted US$542 million in 2016.

Exports to the Dutch market dropped from US$205 million in 2012 to only US$70 million in 2016, a decrease of-24% on average per year.

Ghana’s exports to China, on the other hand, is dominated by traditional or primary exports, such as unprocessed cocoa, raw metals, wood products, and petroleum oils, which account for 96 per cent of exports to the Asian nation, statistics from the Ministry of Trade show.

China International Import Expo

The China International Exposition is expected to attract over 100 countries and regions with various products. It is also expected that thousands of enterprises from these countries will attend the event, bringing up to a million commodities and services to the Chinese market.

China is therefore inviting Ghanaian manufacturers to enter its vast market to exhibit their products and to take advantage of the opportunity.

At a joint media briefing, Mr. Chai Zhijing, Economic and Commercial Counselor at the Chinese Embassy, explained that the exhibition is an opportunity for local business owners to woo foreign investors into Ghana.

He said: “At the moment, as far as biological trade is concerned, Ghana is one of our top 10 trading partners in Africa.

But at the moment, Ghana’s trade with China is in a deficit. So, that means that Ghana buys more from China than it exports,” Mr.Zhijing said.

“So, I think this Import Expo will be a very good opportunity for Ghana to show its potential – what it can offer to the Chinese consumers,” he added.

Deputy Trades Minister, Carlos Ahenkorah, confirmed government’s commitment to supporting local manufacturers and business owners in this regard, adding that the ministry is considering a proposal to acquire a pavilion in China to aid Ghanaian exhibitors.

“We want to take advantage of the early bird offer and have a whole pavilion to ourselves outside the individual enterprises that are going to have their own,” he said.

“If our request is accepted; if our one-month moratorium is given, I can assure you that within the month of February we would be able to affirm our commitment to take a pavilion for Ghana in the expo,” he stated.

Over the past decade, China’s annual growth rate of retail sales have stayed above 10%. While Chinese consumers are now starting to value quality over price, imported goods are gaining popularity.

In the past, importing market was dominated by large overseas companies. Nowadays, small and medium-sized businesses are selling huge amounts of products into China via new channels, such as shopping agents, supermarkets, and E-commerce.

China’s food and agricultural imports keep growing in recent years. In 2016, total import of food reached US$50 billion, and import of agricultural products were more than $110 billion.

Duty exemption for tourism sector to be reinstated

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Akwasi Agyeman

Players in the tourism sector are to get back the duty exemption they used to enjoy when they imported specific capital equipment, machinery and appliances among others, which was withdrawn in 2011 because they abused it.

This time, though, the duty has to be paid first; and when the investor proves that, indeed, the refrigerator, television set or bedding and fixtures he/she imported was dully installed in a tourism establishment, they receive a refund.

“Initially, the business community complained, asking why should they pay first; but now people have understood that it is to check fraud,” CEO of the Ghana Tourism Authority, Akwasi Agyeman, told the B&FT.

“So, we are bringing it back; we have had extensive discussions with GIPC and it is at a point where it will be reintroduced in parliament during the coming months,” he explained.

“We only get more revenue when more registrations come up; that is why we are encouraging investments,” he indicated.

Among other things, he disclosed that the authority has already served notice for industry players to either register their establishments or face sanctions, saying: “What we have done is to give a grace-period so, that those unlicensed establishments can come and register at no cost. Once they do the registration, then we can pursue enforcement of the law,” he said.

This, he added, is to enable the GTA collect taxes due the state, and ultimately increase the authority’s revenue going forward.

The authority (GTA) has a GH¢23million revenue target for 2018, which Akwasi Agyeman explained will be realised from internally generated funds as well as through the tourism levy – a 1 percent levy paid by users of tourism establishments in the country.

“This year, our target is to realise about GH¢8million from internally generated funds. We are also looking at GH¢15 – GH¢16million from the Tourism Levy, which will be a 50 percent increase over what we did last year,” Mr. Agyeman said.

5 Signs your training process is excelling

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Employee training can be a great asset not only to the employees but also to the company at large. Maintaining consistency training on your team helps your firm to run smoothly. Additionally, workplace training can be an excellent opportunity on which your employees can expand their skills and knowledge base.

Nevertheless, most firms find it expensive to offer some training on their employees. Besides, the employees could miss out on work while attending such training. However, training is a significant asset that makes the time and cost a worthwhile investment. The following are some of the signs that training processes are bringing notable changes in your company.

Improved employee productivity and performance

Employees who get necessary training over time can perform better on the assigned tasks. The employees become knowledgeable about safety practices along with how to handle various procedures in basic tasks.

Consistent training also gives the employee some level of confidence in handling some problems in the workplace. The recruits or existing workers also gain a stronger understanding when it comes to the entire industry along with the responsibilities of the relevant job. The confidence employee gains could push them to perform excellently in any given position.

A consistency training session could also help you every individual in your organization to remain on a cutting edge of every industry developments. Competent employees can keep track of the changing standards of the various industry developments. That keeps your company competitive and thriving in the entire industry.

Employee satisfaction

There is nothing that gives an employee satisfaction that knowing that they have what it takes to handle any problem within the workplace. Additionally, training your employees is a sure indication that they are valued within the organization. Great training sessions also create some supportive environment. The trainees also feel challenged and appreciated through such training opportunities which give them extra satisfaction.

Increased consistency

Maintaining well-structured training as well as development program could help in the company’s flexibility in any given industry. With excellent training sessions, employees can manage consistent knowledge and experience on their tasks as well as procedures.

Tasks are completed within the right time frame without many questions, and risks are also minimized in the workplace. Discrimination, administrative and safety tasks are among the most crucial components which would need workplace training. All the workers also understand the objectives and philosophy of your organization.

Addressed weakness in the workplace

Even the top-notch employees possess some level of defects regarding skills in the workplace. Proper training gives the management the opportunity to understand the gaps prevailing in the firm as well as provides them the best solutions to deal with such weaknesses. That helps boost the employees’ confidence and make them all-rounded to be able to deal with any given factor at an assigned department. As a result, the projects of your firm will be completed on time with minimal supervision or assistance.

Minimized turnover cost

Retaining well-trained works pays you off significantly for many firms since the employee turnover cost could be high. The turnover costs could include some separation costs such as administrative functions which are related to termination, exit interview costs, unemployment compensation costs, along with some severance payments.

The replacement costs on the other side include entrance interview costs, testing, moving expenses, and pre-employment administrative expenses among others. Arguably, 75% of recruitment of new employees is related to replacement of workers who have left your organization.

There are many factors which would indicate whether a training session has excelled or not. Understanding such factors could assist the management to change the training tactics and seek for better training sessions which best fit the employees and the objectives of the firm. It is necessary to make sure that every training session bring a significant change to the productivity of the company.

Joe Humphries is a contributing writer and media specialist for Training Network. He regularly writes for training and safety blog [www.safetytrainingnetwork.com]

 

Do customer satisfaction surveys matter in rural banking?

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According to the Banks and Specialised Deposit Taking Institutions Act 2016, rural banks are specialised deposit-taking institutions engaged primarily in deposit-taking business within a defined catchment area. Deposit-taking business means that RCBs take money on deposit and make loans or other advances of money.

Customers are one of the key stakeholders of RCBs. This is so because RCBs cannot undertake their deposit-taking business without customers. RCBs depend on customers’ deposits as their main source of funding. Customers’ deposits help RCBs to make investments and loans, thereby generating income. Customers are therefore the main reason for the existence of RCBs.

Employees of RCBs should appreciate the fact that they are in employment because of customers. If customers decide not to transact business with their banks, they will lose their jobs.

RCBs should therefore place premium on customer satisfaction. This means that customer satisfaction should be their top priority. It is worthwhile for RCBs to provide customer satisfaction due to the following benefits:

First, it will result in customer loyalty.

Second, customer satisfaction will influence positive word of mouth advertising.

Third, it will insulate RCBs from competitive pressures.

Fourth, it will lead to growth in deposits.

According to Michael Scott, a marketing expert, RCBs should ensure that they maximise customer’s positive experiences, and minimise customer’s negative experiences. He said that once this is done, RCBs customers will feel satisfied. He further said that customers visit banking halls for the following reasons: to make deposits, to make withdrawals; to make loan repayments; to access loans; and to make enquires.  He went on to say that when existing and potential customers walk into the banking hall to transact above-mentioned businesses with RCBs, staff who interact with them should maximise positive experience – thereby ensuring customer satisfaction and delight.

So far, this article has touched on customers as key stakeholders in rural banking and the importance of customer satisfaction. Now, the question arises of how RCBs can gauge whether customers are satisfied or not.

This question is relevant because Technical Assistance Research Programme (TARP) has revealed that the average business does not hear from 96 percent of its unhappy customers. The TARP research demonstrates that customers do not actively complain to services firms themselves. Instead, they voice their dissatisfaction with their feet by defecting to competitors; and with their months, by telling others about their perceived mistreatment.

According to the TARP research, an average customer with a problem tells 9 or 10 people. (Source: Services marketing by Professor K. Douglas Hoffman). In view of the fact that most dissatisfied customers do not complain directly to service firms such as RCBs, it is therefore relevant to undertake customer satisfaction surveys. Some RCBs have huge numbers of dormant account holders – and among the reasons is customer dissatisfaction. Many a time, bank customers who are dissatisfied may not close their account but will stop operating it – thereby making it dormant.

I would therefore advise management of RCBs to undertake customer satisfaction surveys every six months, or once a year. If you are a manager or employee of RCBs reading this article. ask yourself this question: “When was the last time my bank carried out a customer satisfaction survey to reveal the level of customer satisfaction?”

If the answer is ‘never’, then it is advisable to undertake a customer satisfaction survey now.  Customer satisfaction surveys will provide the following benefits:

First, they will provide formal means for customer feedback to RCBs which may identify existing and potential problems.

Second, customer satisfaction surveys will convey a message to customers that the bank cares about their wellbeing, and value customers input concerning its operations.

Third, it can help to develop customer service training programmes.

Fourth, data collected from customer satisfaction surveys might be used by RCBs for employee performance reviews and compensation decisions.

Fifth, they help in carrying out internal analyses which involve identifying strengths and weaknesses of RCBs’ service delivery process.

Conclusion

Thus far, this article has considered the relevance of customer satisfaction surveys in Rural Banking. I sincerely urge management of RCBs to carry out this important research at least once a year.

In fact, it will be wrong for RCBs to wait and expert direct voluntary feedback from customers to measure customer satisfaction. This is so because research has revealed that an average firm does not hear from 96 percent of its unhappy or dissatisfied customers.

Therefore, Management of RCBs will lose many customers and deposits while waiting for the other four percent to speak their minds.

I would also recommend that RCBs use both qualitative and quantitative techniques in their customer satisfaction surveys. More importantly, they can use the Likert scale method.         Proven Trusted Solutions has expertise in conducting customer satisfaction surveys. Hence, RCBs and other financial institutions should avail themselves of their services.

 

The Author is the CEO of proven Trusted Solutions, an employee training and development and marketing research firm.

Contact: 0207725859 / 0244517 833

Email: [email protected] / [email protected]

You can consult him for the following services: Marketing Research / Mystery Shopping, Training Mobile Bankers, Customer Service Training for Customer Contact personnel, Writing Marketing Plans, Business Plans among others.

EMERGING ECONOMIES: …How corruption affects them

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Economies that are afflicted by a high level of corruption—which involves the misuse of power in the form of money or authority to achieve certain goals in illegal, dishonest or unfair ways—are not capable of prospering as fully as those with a low level of corruption. Corrupted economies are just not able to function properly because corruption prevents the natural laws of the economy from functioning freely. As a result, corruption in a nation’s political and economic operations causes its entire society to suffer.

According to the World Bank, the average income in countries with a high level of corruption is about a third of that of countries with a low level of corruption. Also, the infant mortality rate in such countries is about three times higher and the literacy rate is 25% lower. No country has been able to completely eliminate corruption, but studies show that the level of corruption in countries with emerging market economies is much higher than it is in developed countries.

Corruption causes artificially high prices for low quality products and services

Corruption in the way deals are made, contracts are awarded, or economic operations are carried out, leads to monopolies or oligopolies in the economy. Those business owners who can use their connections or money to bribe government officials can manipulate policies and market mechanisms to ensure they are the sole provider of goods or services in the market. Monopolists, because they do not have to compete against alternative providers, tend to keep their prices high and are not compelled to improve the quality of goods or services they provide by market forces that would have been in operation if they had significant competition.

Embedded in those high prices are also the illegal costs of the corrupt transactions that were necessary to create such a monopoly. If, for example, a home construction company had to pay bribes to officials to be granted licences for operations, those costs incurred will, of course, be reflected in artificially high housing prices.

Inefficient allocation of resources

In best practice, companies choose their suppliers via tender processes (requests for tender or requests for proposal), which serve as mechanisms to enable the selection of suppliers offering the best combination of price and quality. This ensures the efficient allocation of resources.

In corrupted economies, the companies that otherwise would not be qualified to win the tenders are often awarded projects as a result of unfair or illegal tenders (e.g. tenders that involve kickbacks). This results in excessive expenditure in the execution of projects, and substandard or failed projects, leading to overall inefficiency in the use of resources. Public procurement is perhaps most vulnerable to fraud and corruption due to the large size of financial flows involved. It is estimated that, in most countries, public procurement constitutes between 15% and 30% of gross domestic product (GDP).

Uneven distribution of wealth

Corrupted economies are characterised by a disproportionately small middle-class and significant divergence between the living standards of the upper-class and lower-class. Because most of the country’s capital is aggregated in the hands of oligarchs or persons who back corrupted public officials, most of the created wealth also flows to these individuals. Small businesses are not widely spread, and are usually discouraged because they face unfair competition and illegal pressures by large companies who are connected with government officials.

Low stimulus for technology advancement

Because little confidence can be placed in the legal system of corrupted economies in which legal judgments can be rigged, potential innovators cannot be certain their invention will be protected by patents and not copied by those who know they can get away with it by bribing the authorities. There is thus a disincentive for innovation – and as a result emerging countries are usually importers of technology, because such technology is not created within their own societies.

 

Shadow economy (shadow market)

Small businesses in corrupt countries tend to avoid having their businesses officially registered with tax authorities to avoid taxation. As a result, the income generated by many businesses exists outside the official economy and thus are not subject to state taxation or included in calculating the country’s GDP. Another negative of shadow businesses is they usually pay their employees lower wages than the minimum amount designated by government; and they do not provide acceptable working conditions, including appropriate health insurance benefits, for employees.

Low attractiveness for foreign investors and international trade

Corruption is one of the disincentives for foreign investment. Investors who seek a fair, competitive business environment will avoid investing in countries where there is a high level of corruption. Studies show a direct link between the level of corruption in a country and measurements of its business environment’s competitiveness.

Low-quality education and healthcare provision

A working paper of the International Monetary Fund (IMF) shows corruption has an adverse impact on the quality of education and healthcare provided in countries with emerging economies. Corruption increases the cost of education in countries where bribery and connections play an important role in the recruitment and promotion of teachers. As a result, the quality of education decreases. Also, corruption in the designation of healthcare providers and recruitment of personnel, as well as the procurement of medical supplies and equipment, in emerging economies results in inadequate healthcare treatment and a substandard, or restricted, medical supply -thus lowering the overall quality of healthcare.

Ghana’s Case

The country’s parliament, last year, passed the Special Prosecutor’s bill into law to fight corruption; the President has subsequently nominated someone into that office (awaiting parliamentary approval). Ghanaians, for that matter, are waiting to see if corruption can be brought to the barest minimum, for the economy to thrive.

Summary

Many countries with emerging economies suffer from a high level of corruption that slows their overall development. The entire society is affected as a result of the inefficient allocation of resources, the presence of a shadow economy, and low-quality education and healthcare. Corruption thus makes these societies worse off and lowers the living standards for most of their populations.

ABOUT THE AUTHOUR

Sam Bediako-Asante is the CEO of Sambed Consult, a Business/Investment Advisory firm. He is also a former Banker, a Professional Administrator, and is presently a certified and accredited SA Specialist of South African Tourism in Ghana.

He can be reached on 0277518634 or email: [email protected]

 

Credit: Elvin Mirzayev CFA, FRM

Decisions

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Dzigbordi K. Dosoo: The H.E.L.P. Coach

At every point in our lives, whether on a daily, weekly, monthly or yearly basis, we find ourselves at the crossroads of making choices. Making decisions is an activity we perform more often than we allow ourselves to believe, starting from deciding to get out of bed, choosing what to eat or wear or making a decision about a choice. We are all products of our decisions hence the need to understand the concept of decision-making.

According to the Oxford Advanced Learner’s Dictionary the term decision-making is “the process of deciding about something important, especially in a group of people or in an organization.” Another definition of decision making indicates that the “decision making process is a continuous and indispensable component of managing any organization or business activities.” Even though these definitions have been limited to the scope of work and business, decision-making is a continual process that we undertake in every part of our lives; our life, our love and our labor.

We are defined by the decisions that we make and those that we do not make because we are a mirror of the consequences and outcomes of these decisions. However, it is common to find in most people’s journeys that there is a gap in the integration of individual values and the process of decision making.  Studies by a neuroscientist, Antonio Demasio, found that 95percent of the time we make decisions based on our feelings. This habit robs us of the power ‘to do’ because it is only in doing that we achieve and progress.

If we are more aligned with the goals, dreams and values that are supposed to encompass who we are, then we are meant to be making decisions based on the fact that we want to achieve rather than on the fact that we feel or do not feel like doing what we know is crucial in propelling us to our desired outcome.

The challenge with decision-making does not lie in our willingness or unwillingness to make these decisions, but in the unavailability of an understandable process by which we can make intelligent choices. The consequence of making a decision or indecision is the outcome. The outcome can either be good or bad. How many of us actually sit to analyze the consequences of the decisions we make before we decide?

Susan Welch, former Editor of the Harvard Business Review in her book ‘10 10 10’ discusses her model on how to make decisions. After being faced with several uncomfortable situations while she was trying to find a balance between work and family, she worked out the model called ‘10 10 10’.

This model advises a person tasked to make a decision at any point in time to consider the consequence of the choice they would make in the next 10 minutes, the next 10 months and the next 10 years. It is apparent that a good number of us make decisions to feel better in the next 10 minutes of our lives, only to be plagued by many more crossroads in the next 10 weeks, 10 months and 10 years simply because we chose our present comfort over that of our future.

Our ability to project the life we want to have in the very long term is the first step to consider in making any decision. Decisions are not made to make you feel good in the present. They are meant to be well-thought out and serve a higher purpose than the short-lived happiness of the next 10 minutes of our lives.

Mel Robbins, a Certified Public Speaker and Life Coach also talks about the 5 second rule. “There is a 5 second window between the instincts, the ‘shoulds’, the urges, the inner wisdom, the things that can change your life if you listen to it. There is a 5 second window from the moment you feel that instinct to move. And if you don’t, your brain is designed to kill it. The 5 second rule encourages you to count backwards from 5,4,3,2 to 1.

The neuroscience behind this rule explains that counting backwards is an action that requires focus. The moment you hesitate, your mind raises a red flag and puts you in a position of inaction and fear. That is the moment you need to make a decision because it is a Moment of Power.” Your failure to act and your failure not to act are both actions.

Now that we have understood what decision making is and studied a few concepts on it, what are the toolsets we can leverage to propel us to the next stage of our journey? The scale of the problem you are trying to find a solution to is not as big as the challenge of making a decision that best suits your situation. In High Performance decision-making, these are the 4 key things you would need to consider

  1. Raise necessity

In your quest to make a decision, you need to ask yourself whether there is a compelling and convincing ‘WHY’ you need to make the decision now. Your ‘WHY’ is the reason for making the decision in the time frame in which you have chosen to make it and why you feel the need to make a choice about that situation. What are the possible life obstructions that can arise from the decision I am about to make and what are the worthy values or achievements that can come about because of the choice I am about to make?

As a necessity, you should be enlightened about the category in which your decision falls: personal decision, family decision or work decision? The concept of raising necessity is all about need hence the question, “do I need to make this decision now?” If not, discard it. If it truly is a necessity, by all means make the decision and move on.

  1. Socialize the decision around the truth

Once you make your decision, you can bring people into the conversation. There will be the naysayers and the ‘yaysayers’. Each and every one of these people will have their view. Some will be subjective about the matter at hand and others will look at it from an objective point of view, while others will simply speak the truth of the matter.

What remains eminent in these conversations is to socialize the decision not on subjectivity, yay or nay, but simply around the truth. What are the truths about the ramifications and merits of the stance you are taking? No matter how hard it would be to accept the truth, after socialization the truth would stand. Decision making is not about the process of criticism and debate but about the truth.

  1. Enforce your no

All the winding roads of making a decision will take you to a place of positivity, even a ‘NO’. However, when you do say ‘NO’ for a decision there should not be the result of rescinding the ‘NO’ based on external influence or instinctive influence. There is a reason why you said ‘NO’ in the first place. Go back and reanalyze the processes and the reasons for your choice. If the ‘NO’ still outweighs any other affirmation, enforce the ‘NO’ and move on.

  1. The consistency of courage

Every choice you make requires your demonstration of courage to see it through. Nonetheless, it is not about how much courage you demonstrate but about how consistently you display your courage. Once you take the decision, whether it affects the big players, the small players, the middle players or you ultimately in the process, you need to look at this decision through the eyes of courage.

Courage is rightly defined as the ability to do something that frightens one. Yes, you may be afraid of the decision you have made but you should do it anyway no matter the opportunity cost. Nelson Mandela once said, “I learnt that courage was not the absence of fear, but the triumph over it. The brave man is not he who does not feel afraid, but he who conquers that fear”.

Whatever decision you make, even though it may have some component of worry, fear, anxiety, demonstrate courage through out the process. Even if the decision turns out to be a mistake, you made it and you will take responsibility for it. Remember that “your choices are a reflection of your hope and not your fears” – Nelson Mandela.

With these High Performance habits of decision-making, I hope that you will take on a more creative way of making your decisions and looking into the future. It is not just about having to say a yes or a no, making a choice because you have a right to or making a decision because fear cripples you into making one. It is all about raising necessity, socializing your decision around the truth, enforcing your NOs and being consistently courageous in the process of choice and execution.

Are you ready for TRANSFORMATION?

Dzigbordi K. Dosoo: The H.E.L.P. Coach

Dzigbordi K. Dosoo is a Certified High Performance Coach, Global Speaker, Media Personality and award-winning Entrepreneur.

She is the Founder of Dzigbordi K. Dosoo (DKD) Holdings; the mother company that holds Dzigbordi Inc. & Allure Spa in The City. These brands provide services in Personal Impact & Development, Corporate Consulting, Wellness & Grooming.

Her coaching, seminars and training has helped many organizations and individuals to transform their image and impact, elevate their engagement and establish networks leading to improved and inspired teams, growth and productivity.

Her area of focus is Humanness, Entrepreneurship, Leadership and Power (H.E.L.P).

 

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