Ghana Chamber Of Commerce And Industry's Business Forum With CEOs: A Necessary Business Initiative?

Isaac Nunoo

Businesses all over the world are finding new innovative ways of operations that fit into the modern competitive globally oriented markets. A company's ability to reach such markets is a herald of great success. However, many businesses in Africa and for that matter Ghana, have not been able to reach the giants international markets like China, Dubai, the US and Europe due to legion of problems both internal and external.

Doing business in Africa and for that matter Ghana, has always faced profuse setbacks ranging from human capital, financial constraints, customer loyalty and market share to over taxing and heavy-lading bureaucracies.

Many of these businesses have not been performing not because of the factors mentioned above but only because they have refused to understand and appreciate the modern trend of business where many firms are going into integration and conglomeration. Such business innovations help ameliorate the hefty challenges that confront most businesses.

Business associations like the Ghana Chamber of Commerce and Industry provide a major alternative that provides both national and international platforms for trade and industry elevation. The Chamber whose vision is to provide leadership for the growth and prosperity of businesses in Ghana as well as promoting the interest of companies and organisations engaged in investment, trade, commerce, agriculture, industry and manufacturing in Ghana has over the years committed itself to playing a leadership role in the promotion of the healthy growth of the country's economy, establishing a strong international linkage and projecting a good image for Ghana.

Forming partnerships and joining associations have become alternative means of surmounting several herculean business obstacles in the 21st century. Partnerships and associations tend to not only solidify businesses and their owners from unfair policies and unnecessary internal and external interferences but also provide a cushion for the weaker organisations as it becomes easy for start-ups in the same association with giant firms to collaborate in doing business together.

Such business associations also provide very educative business programmes or forums which update members on sensitive issues about the economy and business in general. An example of such forums is the BREAKFAST MEETING WITH CEOs initiated by the Ghana Chamber of Commerce and Industry.

The Ghana Chamber of Commerce and Industry's BREAKFAST MEETING WITH CEOs is a (rate free) BUSINESS FORUM initiated last year by the Chamber. The Chamber intends to hold the 2nd edition in July this year and it is coming off against the backdrop of the recent avalanche of complaints and criticisms in respect of the state of the economy and particularly, the rapid depreciation of the cedi. It is the belief of the Ghana Chamber of Commerce and Industry that bringing industry players together to deliberate on pressing issues concerning the nation's economy and businesses in general is of utmost importance because ideas sharing leads to innovations.

CEOs are therefore encouraged to participate in such all-important forums to learn from other business moguls, economists, government officials and share ideas.

Indeed, doing business in today's industrial and technology world, goes beyond 'the cottage approach' to business. Entrepreneurs across the globe are going into partnership and joining formidable associations for a number of factors including resources, protection, image, identity and reputation building as well as media relations or publicity. Start-ups can join business associations like the Ghana Chamber of Commerce and Industry, Ghana Union of Traders Association (GUTA) or Association of Ghana Industries who are already in the limelight for credibility and media publicity.

It was not for anything that Google acquired the mobile device maker, Motorola Mobility and also with the intention of manufacturing smart phones and television set-top boxes. Amazon's Kindle Fire tablet is a bridge between hardware and e-commerce. The long-standing software giant, Microsoft now makes hardware for its Xbox gaming system. All these technology titans are clearly following the example of Apple.

It is prudent that firms in Africa and for that matter Ghana go into integration (either vertical or horizontal) and conglomeration to use the expertise of other entrepreneurs to provide for any shortfalls and to bring about high economies of scale.

However, joining a business association like the Ghana Chamber of Commerce and Industry can provide equally good opportunities for those who wouldn't want to integrate or conglomerate since collaboration and business links are key objectives of the association.

Isaac Nunoo Is A Communicator And Researcher
(GCCI; Intern)
([email protected])