London Business School helps entrepreneurs
ALEXANDRA - Alex entrepreneurs had the privilege of a weeks's mentoring recently by a range professionals and students from the London School of Business.
Alex entrepreneurs had the privilege of a weeks’s mentoring by a range professionals and students from the London School of Business.
The engagement, which is in its third year, is part of the school’s programme of empowering small and micro enterprises in this impoverished township with essential business skills. The initiative is a partnership of the school with Khavho Travel and Tourism, Reciprocity, a market research and social development organisation and local navigators who link the students with the businesses requiring support.
MBA students, 88 in total, from the school worked in groups of five and were led by a navigator in visiting selected businesses where they imparted skills in marketing, administration, bookkeeping and related legislation. They assessed the conditions of the businesses, proposed corrective strategies and intervention measures to improve the businesses’ operational efficiency. Although they worked with the businesses for only a week, they drafted programmes which will be used for follow-up mentoring and support by the navigators on their [students’] behalf.
Rachel Phasha, of Khavo Travel and Tourism, said the initiative assisted 15 entrepreneurs in 2012, 15 more last year and was assisting 18 this year. She said the students who include accountants, managing directors of companies and future business leaders were from all over the world. They provided invaluable support with tangible benefits to Alex entrepreneurs. She added the programme also received other business support from GIBS Business School, Gauteng Enterprise Propeller and Shanduda during and after the students’ visit. “This is to help consolidate the business development, growth and sustainability of the entrepreneurs,”
Expressing gratitude at the opportunity, the students said it was a rewarding experience to help others grow and succeed in their chosen business endeavours. One of the groups with students from the United States of America, China, Germany and India engaged with a restaurant. They said the entrepreneur required support with marketing skills to expand customer base, sponsorship to improve competitiveness, to maintain product quality and hygienic conditions and also to develop a long-term plan for the business. The group’s navigator Mlungisi Zwedala who has been with the programme for three years said the contributions from the students will result in major improvements in the professional conduct, profitability and sustainability of the local businesses.
