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Mengi: Commitment essential component in entrepreneurship

2008-03-18 09:42:39
By Judica Tarimo


IPP Executive Chairman Reginald Mengi said yesterday that commitment was an essential component to progressive and successful development of entrepreneurship sector in the country in particular and Africa in general.

Mengi said this during an audience with 15 US students pursing Masters Degree in Business Management from New York`s Pace University.

The students had paid him a courtesy call at the IPP headquarters in Dar es Salaam to get first-hand information and techniques regarding the secrets behind his success in business.

``Commitment and competence are crucial elements to observe in the course of selecting employees in your business, but commitment should be the first criteria...selection needs to be conducted in that order,`` said Mengi.

``It`s possible to improve work efficiency to the required standards of employees who are committed.

Academically competent people, who are not committed, have some problems. Sometimes they might cheat you,`` he added.

He urged the students to be risk-takers and shun fear, insisting that successful entrepreneurs should always be ready to take risks.

Mengi described fear as the biggest enemy that had slowed down anticipated growth and development of aggressive entrepreneurs in the country and other parts of the continent.

``You should be ready to abandon that enemy (fear)…try to be aggressive and embark on business ventures without fear. Many people have failed to join the entrepreneurship sector because of fear. Go to the business…start a small project and gradually you will grow and become large-scale entrepreneurs,`` he advised.

The Executive Chairman advised the students to treat business problems as challenges, noting that problems always lay on one`s shoulder and put him or her down.

``But challenges cannot stay on your shoulders…if you look at problems as challenges and part of business life, obviously you could easily face and find appropriate means to overcome them. Ups and downs are always there, but treat them as challenges,`` said Mengi.

Mengi, who is also Chairman of the Confederation of Tanzania Industries (CTI), said personal confidence and knowing destinations were important features in any successful business operations.

``Be confident in what you are doing, and have destination. If you have destination, you can easily work out your business plan. If you don`t know the destination, you will end up confused,`` he noted.

Speaking at the occasion, former Tanzanian Ambassador to the US Daudi Mwakawago said the students had come to explore and study business and investment opportunities as well as potentials and other related operations in the country.

``They heard of the fast-economic growth and developments in our country and they are interested to know the forces behind these developments and how they can explore the potentials,`` he said, adding:

``But such tours are useful to our country because of several reasons. They help in publicising the country`s potentials to the outside world.

You never know, they may come back (in future) to Tanzania as experts or investors and even foreign consultants,`` said Mwakawago.

* SOURCE: Guardian