Neil Wright
Notification: Below is my latest blog. When new blogs are added, the current blog will be archived with the other blogs, this under blog history above. I can also refer readers to reference reading above.
Question: Why read the blog below?
Answer: It can be the weakest link in Michael Porter’s Value Chain of a business, this apart……AI has revolutionised financial accounting.
Blog No 12 Financial Accounting and Administration March 2025
The question: How has technology and Artificial Intelligence (AI) changed financial accounting including double entry booking?
The answer from Google Gemini.
The impact of technology and AI on financial accounting, including double-entry bookkeeping, has been profound, transforming traditional practices in numerous ways. Here's a breakdown:
Key Impacts:
Automation:
Technology has automated many routine accounting tasks, such as data entry, invoice processing, and bank reconciliations. This significantly reduces manual effort and the risk of human error.
Specifically, regarding double-entry bookkeeping, software now automates the dual entry of transactions, ensuring that the accounting equation (Assets = Liabilities + Equity) remains balanced.
Increased Accuracy and Efficiency:
Accounting software and AI-powered tools enhance the accuracy of financial data, leading to more reliable financial reporting.
The speed at which financial information can be processed and analysed has dramatically increased.
Real-Time Financial Reporting:
Cloud-based accounting systems enable real-time access to financial data, providing stakeholders with up-to-date information for decision-making.
Enhanced Data Analysis:
AI and machine learning algorithms can analyse vast amounts of financial data to identify trends, patterns, and anomalies.
This enables accountants to provide valuable insights for strategic planning and risk management.
Improved Accessibility:
Cloud computing has made financial data more accessible, allowing accountants and other stakeholders to access information from anywhere, at any time.
Changes to the Accountants Role:
With the automation of many basic tasks, accountants are now able to spend more time on higher level tasks, such as financial analysis, and providing strategic advice.
Cybersecurity Concerns:
As financial data becomes increasingly digitized, cybersecurity threats have also increased. Robust security measures are crucial to protect sensitive financial information.
Double-Entry Bookkeeping:
While the fundamental principles of double-entry bookkeeping remain unchanged, technology has significantly streamlined its implementation.
Accounting software automatically applies the double-entry system, reducing the risk of errors and ensuring accurate financial records.
In essence, technology and AI have revolutionized financial accounting, making it more efficient, accurate, and insightful. While the core principles, like double-entry bookkeeping, remain, the way they are implemented has been transformed.
Personal Experience
The start of this blog brings us right up to date with financial accounting. Some might have thought AI would have rendered double entry-bookkeeping redundant…… Not so, double-entry bookkeeping goes back a long time. It has been modernised by AI along with most of everything else.
In writing these blogs, where in the past, unless I quoted some authority, the words where my own. Now many aspects can be told far better by using AI. Does that mean I am out of a job? No, what I choose to use in AI is still personal. I ask the questions……. getting these questions right, can also add value. In this I draw on personal experience.
History of double entry book-keeping
The formalization of double-entry bookkeeping is credited to Luca Pacioli, a Franciscan monk, and mathematician in 1494, Pacioli described the principles of double-entry bookkeeping. He outlined how each transaction affects two accounts—debits and credits—ensuring that the accounting equation (Assets = Liabilities + Equity) remains balanced.
Peter Drucker described double entry bookkeeping as one of the foremost management controls ever created. The system ensures the accuracy of the numbers produced. The system is a valuable tool for businesses and any other organisation needing to record accurately income and expenditure…….for example a school or a hospital……or a rugby club.
Everyone working for a business will know that the accounts department is central to the business. It is close to the CEO and all employees know that the payroll is an important function produced by the accounts department.
The workings of financial accounting are complex. The whole process of producing a set of accounts monthly requires specialized knowledge. Important that employees, in leading positions at all levels, know the basics of how accountancy functions. It is a weakness when responsible staff hardly know the difference between an invoice and a statement.
It is also important that staff value even admire the sophisticated accounts system…….account practices in businesses have mostly led the way in using AI technology.
Invoices
The flow of invoices in businesses might be likened to the red blood corpuscles that flow around human bodies …….the life blood of a business is in the flow of invoices. The flow stops the business dies.
We have said that humans can run their lives like a business, we receive an income, and we expend money. When buying at the supermarket that till slip is an invoice. If one has a high degree of self-management, we might keep the slips and do our own income statement and profit or loss.
For the business of the Supermarket the generation of that slip creates a wealth of information that is recorded and analysed in the computer programme written for supermarkets.
(Please see Reference reading under blog F headed “An outline of the Paper Trail of Financial Accounts” ) This AI generated paper is a simple outline of all the source documents and books of entry used in the financial process that ends in a full set of accounts.
Apart from the financial information for the accounts, the simultaneous production of the till slip will adjust the inventory levels of stock on the selves. Information that is used to restock. Not only stock levels, also real time information of all the numbers that management might want to monitor. Not just the income statements for each store but a full analysis of each product line sold.
Before we get carried away, back to the till ……Payment, cash or card. Another source document. Cash receives a receipt, and the credit card or debt card receives a payment voucher, it could be on the same slip as the invoice. This information flows back into the journals, the cards record the transaction with bank, recording balances in the bank statements of the card owner.
Value Added Tax (VAT)……..administered by the accounts department
VAT is also on the till slip, For VAT registered business purchasing at a Supermarket, the accounts department needs these slips to claim from SARS. Sloppiness on the part of staff, loosing these slips, not giving the slips to the accounts department for the claim……...can be costly for the firm.
Business to Business selling and buying transactions
Business to Business transactions often involved credit being given……the opening of an account. The account system records Accrued Expenses that have been incurred but not paid and Accrued Revenues that have been earned but not yet received.
My best story on invoices: Ronnie Lubner founder of the PG group (Plate Glass Ltd) in his retirement he would have both sales invoices and purchasing invoices sent to him wherever he happened to be.
I have this picture in my mind of Mr. Lubner going through boxes of invoices on a luxury yacht on the Mediterranean Sea. The invoices had everything in them that he wanted to know about the business. From sales invoices the names of firms, the PG group was dealing with…... to turnovers…... to items bought…. etc. And with the purchasing invoices, names of suppliers PG was buying from and the prices etc.
If he had the statements with the invoices he would know……...for sales invoices, how much was outstanding, and how long debtors were taking to pay their accounts. For creditor invoices he would know……how much the PG group owed to suppliers. What a lesson for business managers……. watch the money.
Summary
This is the first blog and is an overview on Financial Accounting. The next blog No 13 will be on the management of source documents, in particular sales invoices and purchases invoices. Once source documents enter the paper trail of the accounts system, the accuracy is ensured by the double-entry bookkeeping and everything is traceable.
Poor management of these source documents can cause problems including unauthorised purchases, padded Invoices, over invoicing, theft of invoices even fictitious invoices. Even AI in our summary above says AI can help to warn of practices that might be fraudulent…… but only to warn. Business management has Management Control Systems that help to draw a line in the sand to end corrupt practices.
Neil Wright
Welcome to my website, the first for 2025…….Best wishes for the year, the foreword below precedes blogs on Financial Accounting and Administration, the 2nd set of blogs for my series on business management
Please also refer to my series of blogs under reference reading. I have placed two more blogs under this heading.
1 ) Blog E Steve Jobs; a summary I made from Walter Isaacson biography of Steve Jobs…….. on learning from Jobs about business management …….. especially on Marketing
2) Blog F A summary by ChatGPT made of my Blog No 12 on Blog 11 Macro Marketing, 7 ages were reduced to 1
Foreword: Financial Accounting and Administration Jan 2025
In Business Management by Neil Wright
Foreword: This is the second core link in business management. Blogs will follow sometime in February 2025
None of the links in Michael Porter’s Value Chain for a business are more important than others, we know the strength of a chain is in its weakest links, that makes every link vital to the strength of the whole. Having said this, this link financial management and administration if not mastered could lead to the demise of the whole business……...regardless of the strengths of the other links.
Michael Porters Value Chain Please find in Blog titled Prologue to Business Management for a diagram of Porter’s Value Chain
Financial Accounting and administration: Its position in the value chain is in the firm’s infrastructure in Support Activities . It has ties with all the other links where income and expenditure are incurred.
Financial Accounting is your financial friend, helping you track your progress, understand your finances, and make informed decisions for a secure future. It's not just about crunching numbers; it's about empowering you to take control. From Google Gemini
My experience of getting into business
Briefly I'm one of those that dropped out of university, this in 1966 in the old South Africa. I had passed matric, so it was not difficult for a white male to get a job.
It helped that my father was a well-known poultry farmer he sold day old chickens. I easily obtained a position as a farm manager working for broiler chicken businesses. In the early 1960s it was boom times to produce broiler chicken meat.
Going into my own business was always an option for me. It is true that for many of us with no focus on career training, going into business might be one of the few options for the ambitious or for the unemployed. This is certainly the case in the New South Africa where the informal business sector is huge. The tenderpreneurs, are also in large numbers, from receiving tenders from the three tiers of government, either from the municipalities, the provinces, or from national government.
Other industries popular for those with no focus on career training and going into business are ……the building industry, retail industry, transport, gardening services, restaurants, taxi Industry and many more, including those getting into business by obtaining a franchise …...this in a variety of industries……. from bookkeeping to Coffee shops.
I was fortunate with limited capital support, the year 1972, I bought into a truck hire business, name Rent a Truck. The firm had 14 vehicles to hire out, my story is well documented in Carrier Value the book I wrote on my experience. Electronic copies can be will be obtainable later from Amazon.
After 16 years of being in business I went back to the University of Cape Town and did a part-time degree, B. Com. Hons. in Financial Management. All through my business career I loved reading books on business management and attending courses e.g. Michael Porter on Strategic Planning. I had developed an interest in business management theory long before the degree course.
The degree course was a turning point for me …… I found that the academic fundies had vast knowledge of what was needed to run businesses successfully, including having user friendly systems and practices. I had been reinventing the wheel, working out my own systems. All of which the academic world had long since thought through and developed.
Why did I study financial management and not do a part time MBA (Master of Business Administration)? My answer ……. In the end, business depends on getting the numbers right, making a sufficient profit, making an attractive return on investment, maintaining necessary cash flows, and assuring sustainability. A course in financial management provided this focus……and given how management has out stripped administration……why is it not MBM (Master of Business Management).?
Our course at UCT did not neglect marketing and strategy. They are an integral part of sustaining businesses. I have completed marketing in Blogs 9, 10 and 11. Now for financial management starting with this foreword, before Blog 12, There could be at least 3 Blogs covering this link.
Summary
This foreword to financial accounting and administration has been personal; achievement, needs to be personal; it is helps to make this link in business more alive and interesting.
It is financial accounting that slips up most businesses. It is not regarded, except by accountants as exciting and interesting…….I have a challenge on my hands….. get it right, with the other more exciting links and businesses can power ahead. This set of blogs will include the ways businesses are financed. The next blogs will outline all the source documents in financial accounting, including bookkeeping, and books of entry used to produce a final set of accounts for a business.
Neil Wright
Following & leading in Business Management South Africa.
Domain address: empowersabusinesscoza.com
Please pass on my website domain to someone you believe would benefit from learn more about business management
Notification of Blog 11 Subject Marketing: 3rd Blog Titled Micro Marketing
Dear Leader / Follower, 11th Dec 2024
Wow! It has taken three blogs to communicate this subject……a core subject in Business Management and one of its greatest gifts to society.
My last blog No 10 Titled: Macro Marketing …...it was too long. In Blog 11 Micro Marketing, I have restricted the blog to four pages, but I have added more information under reference reading, above right-hand corner of this home page.
You will also find under reference reading Market Myopia by Theodore Levitt and extracts from Adam Grants book, Think Again……...including additional support reading for Blog 11 on Micro Marketing
Political parties can learn a lot from business marketing, by first asking the question. What are the primary needs of most of our voters?
It is surely to raise the quality and standard of living of all our citizens…… If the GNU wants to achieve 70% of the votes. Then focusing on strategies and structures to fix all that is broken is a must.…...if all these parties in the GNU can focus on Fixing and Growing businesses, they may get 80 % of the Votes.
The MK and EFF are far away from even thinking of fixing what is broken, and what the needs are of the people. Let alone creating jobs. Their charismatic leaders need a lot of business management training.
The reality is most parties are not serious about the people’s needs…...including the ANC and SACP with their myopic policies, that are taking the country to the brink…...and many political leaders are in denial as to how close we are to financial collapse. The Post Office already has no money to upgrade its technology.
The GNU has a few years before the next election to show what they can do. Fixing electricity loading shedding maybe done, but much more to do …….the list is endless from defunct municipalities, to water, to sewerage, to policing, to education and career training, to prosecutions, to health care, to potholes in the roads, our ports, railways, to housing, SOEs to unemployment, including the Municipal debt (90 Billion Rand) owing to ESKOM…….and what about preparing the country for climate change, the disasters.
The list of disasters above can only drive the people to a government that has workable and common-sense solutions to start fixing the people’s/ voter’s needs……that is what the GNU must focus on. Best that our President and the GNU draws up its own list. If not, civil society will draw up a list of priorities and an action plan…….with a dashboard of progress.
I wish you a Merry Christmas and a Happy and progressive New Year.
Best wishes Neil Wright
Notification of Blog 10
Title: Macro Marketing Part Two 2nd November 2024
Dear Reader/ Follower,
Blog No 10 is now on my Blog site and can be accessed like all the other Blogs by clicking on Blog on the right-hand corner above.
Marketing covers a massive area; it made sense to divide the subject into Macro and Micro Marketing. The purpose of this blog on Macro Marketing is to emphasize the huge areas that have a direct or indirect relationship to marketing.
In Macro marketing I have introduced strategy and structure and extracts of Tom Peters book “The Excellence Dividend” viewed as the sequel to the very successful “In Search of Excellence,” written jointly by Peters and Robert Waterman. Again, good marketing bares a relationship to the aspirations of Excellence.
Blog No 11 Titled Micro Marketing Part Three will follow shortly, Micro Marketing gets back to the business entity or to any other organisation where marketing is needed.
Blog B headed “Marketing Myopia” by Theodore Levitt can be opened next to blog upper right-hand corner. Click on Reference Reading to open a summary of this famous article.
The next time you hear from me will be in 2025 in Mid- to end January. The first Blog No 12 of the year will be headed Financial Accounting followed by Blog No 13 strategy and structure. These two subjects are core requirements of a business. My challenge to make this interesting and fun.
We all hope for big, better things in 2025.
Best wishes for the festive season,
Neil Wright
Notification of Blog 9
Titled “ Sense of Urgency “ In Business Management
Urgency is a major factor in achieving.
This blog is in between the two blogs on marketing (Blog 8 and blog 10). The point must be made urgency is a requirement in achieving. Marketing is a prelude to things happening.
The government of GNU also needs urgency. It is where a lot must happen. It is urgent that the state of SA finances be addressed as it is that businesses have to prosper to provide employment.
Some critics of GNU seem not to have appreciated the need for government and business to do what works. I think of the spat the Secretary General of the Communist Party is having with the Secretary General of the ANC.
Blog 10 titled Marketing Part 2 will be published in a few weeks
Best wishes
Neil Wright
Notification blog 8 18th September 2024
Title of blog: Marketing Part two: In business management
Dear reader / business enthusiast
Marketing: I hope you find this article more personal and showing some passion for one of the most important subjects in business.
I have had some reports of difficulty in finding my blogs.
At the top right-hand corner click on blog for the latest blog including copies of all the previous blogs.
My next Blog 9; I will list other areas of marketing that should be interesting and helpful.
My target market are all businesses that believe they should not only be a learning organisation but also a teaching organisation………remember Drucker’s quote on learning.
Best wishes,
Neil Wright
Notification of Blog 7 29th August 2024
Title of Blog: the Practice of Management: Part Two
Dear reader / follower
These last two blogs on the practice of management ends my introduction to Business Management, its theory and practice. Now we know why businesses and management have a successful partnership.
Businesses management today can have nothing to do with greedy capitalism. This is my conviction when following the lead from management thinkers like Peter Drucker and Professor Henry Mintzberg, they are both quoted in my blogs.
The next set of Blogs will cover Marketing. We have moved on from the four Ps of marketing ……as much as they are still valid. Marketing might be one of the great gifts to society. Good marketing also applies to governments and other public institutions supplying services to the public.
The purpose of my blogs on management is to see businesses fired up to achieve above 6% GDP growth for at least 15 years.
The news that the Black Management Forum (BMF) wants to review BEE is good news, it is not achieving the transformation most people would like to see. Hopefully our business leaders, helped by research from business schools…… will review this legislation objectively and consult all stakeholders and like scientists will come up with facts.
I hope you find the blogs of interest and that you will pass this on to others.
Best wishes,
Neil Wright
Blog No 6 14th August 2024
Website: Following & Leading in Business Management South Africa
Title of Blog : The Practice of Management Part one
Dear reader / follower,
I am happy to present blog number six, the practice of management part one.
Slowly, slowly we are getting into the heart of management. Management did not just happen it needed people like Peter Drucker in its history.
Drucker started a growing discipline that gave birth to a world narrative…... a grand narrative of mini narratives, that would produce a vast number of wealth creating autonomous business entities. The strength of Drucker’s field are the numerous creative management thinkers that have built on his work……..over the years.
In this blog there are numerous bullet points, it calls upon the readers to do some lateral thinking. E.g. marketing and innovation are the first two items on a list of eight areas where Drucker believed objectives should be set.
Enjoy the blog and spread the word…. the theory and practice of business management could be our GNU biggest help in energizing the economy.
Best wishes,
Neil Wright
Following and leading in business management South Africa ; Website
Notification of fifth blog 26 July 2024
Prologue to business management part two headed “Management”
Dear follower?
I present my blog on the management side of the productive area of business management
In 2001 South Africa had 600 companies listed on the Johannesburg Stock Exchange. In 2024 this figure was down to 300 listed companies. Most of these companies left by delisting.
These figures are taken from Tim Cohen's column on the 19th April 2024 on the Internet. This is just one sign of how our economy has shrunk.
We are in the rebuilding phase in SA. As much as the numbers above are disappointing. Let us boost those numbers in this new era of GNU. This is one of the measures that can show that vibrancy in the economy has returned.
These two blogs on business management at this early stage of this series are hopefully like seeds to grow those green shoots in our economy, it's early days and future blogs need to nurture the plants to grow into champion businesses.
Neil Wright
5th Website giving Notification 9th July 2024
Prologue Business Management Part one 4th Blog titled: Business
In the series of blogs “Following and Leading in Business Management South Africa “A quote from Ann Bernstein, nobody could say it better than the executive Director of CDE (Centre for Development and Enterprise) she said:
“By accepting the election results, South Africa’s leaders have surprised the world and reassured the country. We now have a chance to build a new political centre committed to dealing with poverty and truly expanding opportunities for all.”
“This is a government which, on paper, believes in constitutionalism, the rule of law and an increased role for the market in growing the economy and creating jobs. This is a development with enormous potential for our country.”
“What is required now is the leadership and political maturity to keep the GNU intact, and, crucially, to agree on a set of urgent priorities that deal with our country’s most pressing challenges. The space has opened for an ‘all of society’ approach to getting things done,” she added.
The above is an extract from Ann Bernstein article published on Politicsweb Sunday 5th July.
The CDE under Ann Bernstein direction has taken a lead in going public with invaluable information on the Governance needed. I follow her in this series by publishing blogs of what I learnt from a lifetime in the operations of business management. The coal face of making things happen.
The formation of the Governance of National Unity GNU with the cabinet including the DA and other parties could be the beginning of what Mandela and so many others had in mind. It can be the return to the “High Road” in Clem Sunter’s Scenarios.
The title of the Blog No 4 Business was initially Business Management, it made sense to split into two parts titled separately part one Business and Part two management. The feature of the blog is the Value Chain of Business management. Neil Wright
Fourth notification 21 – 6 – 24
New Era of Government of National Unity
It is with humility and relief that we received the outcome of the elections and the subsequent formation of the GNU
Was this again a lucky moment for South Africa? The elections and the outcome of the negotiations remind us once again what a diverse country we are. Not an easy job to embark on a program to reduce unemployment and poverty and have all the population move up to the Level 3 and 4 of Hans Rosling’s charts on income levels from his book Factfulness (see blog 2, “Getting our Thinking Right”)
Part of the diversity…… there were people against the coming together of the ANC and DA in the GNU, some with extreme views accusing DA of hating Blacks. How does one bring these people on board?
Pointing out that three quarters of the DA are not white might not help. Trying to understand why and taking a leaf out of Steve Covey’s book “The Seven Habits of Highly Effective People.” His fifth habit: “Seek first to understand then to be understood.” Mandela did this when he negotiated with the Apartheid Government.
Others in their public comments did not seem to understand the urgency of how close we are to becoming a failed state. Nothing says this more than when you look at the country’s total sovereign debt. We are running out of money fast ……so a top priority, save our economy put it back on track to grow at a minimum of 6% per year of GDP and let this compound over at least the next 15 years. This must be the focus for the GNU. Below illustrates, figures in dollars, we need to target our growth to achieve 4 times our present GDP. Why 4 times? Explanations below.
Initial GDP: $405.87 billion per annum Income per capita $6646 (current)
Target GDP: $1623.48 billion per annum Income per capita $26,185 (target)
The compound interest formula will calculate the number of years required for the GDP per annum to grow to the target amount. The formula is from Google Gemini they have calculated the following in estimating the number of years it will take to achieve the 4 times target, based on our current population.
At 6% interest rate, it will take approximately 23.79 Years
At 8% interest rate, it will take approximately 18.01 years.
At 10% interest rate, it will take approximately 14.55 years.
At 12% interest rate, it will take approximately 12.23 years.
Explanation, the current income per capita in Rands at an exchange rate of R18 to $1 equals R119,628, and to grow 4 times equals R478,512. The per capita income is not to say that individuals will receive this income. But worldwide when the GDP is divided by the country’s population, and the figure is around $25,000. This is an indication that the country, has got its economy right. We would be on the way to Level 3 and level 4. (Hans Goslings charts) or in the old terminology, which Goslings hates, we would have moved from a developing economy to a developed economy. Seeing the end of poverty and unemployment and the end of the inequality that hurts……and, yes between whites and black.
The GNU must put us on this path, the higher the GDP growth rate measured as a percentage, the quicker we will reach developed status. It is compound growth; we know about the magic of compound interest when investing sums of money. That growth applies equally to the compound growth in our economy…….see the chart above. The GNU government must commit policies to staying the course for probably 20 years, but we could do it in 15 years.
Business management with its theory and practice will play its part in helping the economy grow. There is interdependence of many factors, the government being the one of the most important. The new start, our President said a new era, not another new dawn……A huge responsibility lies with our leaders …… if they do not know they should not lead. And when they do lead, they should think and communicate like a scientist, not like preacher, prosecutor or a politician. In my field business management, I have heard so much misinformation about business. I hope my blogs will help change that.
I should have published a blog on 19th June, on a preamble to Managing, but I do have an excuse. The outcome of the elections and the huge potential for all South Africans under the GNU. I have spent time writing this notification and not editing a blog.
I end by repeating my quote from my last notification our democracy is a journey not a destination. We have the strength of being such a diverse nation, As a nation with all our different cultures and now politically no one in the majority this strengthens our diversity more, so are we a majority of minorities.
Neil Wright
Welcome to my website and blogs First Notification 8th May 2024
The full title: Following & Leading in Business Management South Africa.
Domain Address: empowersabusinesscoza.com
Third notification
Dear Followers? 5th June 2024
A quote from Judge Kriegler, the man who ran our first democratic election in 1994. He was asked by the Citizen newspaper when he voted in 2024 elections, if the smooth running of the voting indicated the maturing of the country's democracy.
The judge replied. “No, I do not think we are anywhere near maturity. Our Democracy is young and vibrant yet, fragile. In any event, democracy is not a destination but a journey.”
“I had hoped that the partnership between “white know-how” and “black legitimacy” would have last longer than it did.”
My comment, could we all return to make a full contribution to the New Government, and all bring to the party what we can contribute.
What a responsibility those negotiating coalitions have. Good that the ANC talked of GNU (Government of National Unity), all the groupings must be considered and recognised, even those who would risk social experiments. Is GNU a practical proposition? Do we have the time for GNU or for policies not known for generating much needed capital. So much to fix, so many people to employ, waiting for more dynamic businesses.
T
Second notification 20th May 2024
Hi Reader or can I say Business Activist
“Vote for the most business-friendly party or independent”
My message on the Elections
Most political manifestos have been generous wish lists, missing is where the capital will be coming from. The “how” of lifting the masses out of unemployment and out of poverty through training and upskilling is hardly mentioned.
There must be a “second chance” given to all those unemployed who left school early, without matric. Many lack the basic schooling to be trained and are not employable. Whoever is the new government must come up with a strategy that works, capital is also needed to fund the second chance. In a thriving economy we will need many more skilled technicians, businesses will create the need, government must play its part in up-skilling, the Second Chance.
Achieving businesses are good at acquiring capital and generating profits that can then be reinvested. On government interfering with legislation that does not trust business to do what is right, namely in transformation.
Empowerment of previously disadvantaged personnel is a management imperative, it will happen faster and more substantially, if the economy is allowed to grow at 6% plus annually of GDP compounded over 15 years. Labour flexibility and removing stifling legislation, that prevents investment and undermines the autonomy of self-respecting businesses, is what is required from the new government.
Hi there! Welcome on board. May you find my website interesting, informative, and relevant.
My website and blogs replace my old website, WrightPublishing, and replace my writing of books. I now go online and publish blogs on the subject I am passionate about – The Theory and Practice of Business Management.
On the page, opposite is a picture of the four books, the main source of the articles I will publish. The books were published after I sold my business in 2000. The content from the knowledge and experience I gained, is I trust, more than relevant for today's world.......you the reader will have to be the judge.
I believe the role of business management has been neglected in South Africa and is a major reason for our economy not taking off.
Articles will be published on my blog at weekly or two-weekly intervals. Below, under “Future Blogs” I list what our readers can expect.
Then the dark clouds not only of climate change, but the MK coming from nowhere, even proposing the burning of the constitution……...I must end before I am accused of being a preacher or a prosecutor or a politician…….and not a scientist.
We can only have faith that the outcome will put us on the road to a maturing, prospering Democracy…. that would please Judge Kriegler.
My contribution to the new dawn of a coalition government are my articles on business management, theory and practice. I advised on my website I would publish the first of two articles on Managing and the Practice of Management on the 5th June. I have postponed this for two weeks on 19th June. After the announcement of the Coalition Government.
PPPs are likely to play a part, the saddest reflection of SOEs and other government entities, they do not have the capital and cannot keep up with modern technology. Facilities are run down; our Post Office is an example. Compare this to Germany’s Post Office (Deutsch Pos) that amalgamated with DHL and look how well their shares have done.
NHI (National Health Insurance) must be watched, the private sector must be brought in somewhere to give the whole venture a step up. A win-win outcome for all stakeholders. Come on business! come up with proposals, the new Government will be ripe to listen to proposals to put this venture on a sound footing. Congratulations B4SA, credible reports are giving the thumbs up for the fixing of ESKOM.
This is a new venture for me, I have a lot to learn, I hope you will use the contact notice above to communicate with me.
Next Blog Number 3 is titled The Business Entity ……
Best wishes,
Neil Wright
There is an idealism to the practice of management that inspires those working for business entities. It is the idealism of doing what is right, achieving managers are givers not takers. Achieving Practicing Managers can be proud of being the generators of wealth in businesses and thus being the power behind successful economies.
The practice of management made a name for itself in achieving businesses, but other organisations, schools, hospitals, churches, universities, technical colleges clubs, unions government departments, and SOEs (State-owned enterprises)...... all need the practice of management as much as the need for good leadership.
I can only welcome you to read more by clicking on blog above left
Best wishes,
Neil Wright