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Nnabugwu Chizoba
The Micro, Small and Medium Enterprises (MSMEs) are considered the life wire of the economy of many countries. The MSMEs operate at different levels of investment and income, conduct business as males or females, and carry out their religious obligations belonging to different religions, backgrounds and race. Among the MSME practitioners are the educated, uneducated, professionals and nonprofessionals.
MSMEs no matter their age in business, area of operation and level or size, exposure and capacity of the operator they all face one form of problems, challenges and difficulties at one point or the other.
Associated with the above are issues that worry and task the mind; in addition to stretching the MSMEs physically. This tensed and pressure driven state of affairs due to its fragile nature exposes the weaknesses, biases, and prejudices of the MSMEs, since it challenges their strengths and capacity to take the right action, position or stand with respect to resolving the prevailing circumstance, situation, condition or problem.
Captured below, in summary though, are somehow the synopsis of the problems, challenges or difficulties that the MSMEs face. The issues are by far not exhausted in this piece.
Some problems faced by the MSMEs are identified as critical because they are life threatening, associated with life and death, or as Nigerians will put it in the local parlance “A Do or Die affair”. Some challenges require the MSMEs to indicate interest to be a part of, to participate in a venture, to go on with the terms of a contract, to support a relocation, to deny or withdraw from it. At times too, the challenge is about eating a particular food, wearing a type of dress, or visiting a specific town, spot or individual, or watching a different movie or attending one event or the other. Whether one considers some of the issues raised here as major or minor, fact is, tact is required in handling some of them.
In
a related development the challenge may occur in terms of the line of investment
to embrace and embark on in the face of several compelling options. At other
times the challenge may be whether to sack, employ, promote or transfer a
worker. If it is not this it may come in terms of who to partner, collaborate
or merge with to execute a business. At other times, the challenge is a “Make or Buy” decision. There are cases
also where the challenge is about renting an office space for the purpose of opening
a new branch office as against developing a new plot of land, or buying a
building. At times the challenge is centered on acquiring a distribution
vehicle or focusing efforts and attention on developing the business manager, or
abandoning the business to accept a paid job or employment, or offer of an
appointment as a public servant. Another form of challenge is locating a
business in a particular state, region or country.
For those in sports, football for example, the challenge sometimes is on where to ply or deploy their skill: for a particular football club as against another, or representing a particular nationality as against the others.
Knowledge
and understanding of decision making models will contribute tremendously to enhancing
the capacity of MSMEs to relate effectively with issues and position them to be
able navigate through problems and remain active in business.
What models and how should they be applied are the questions? Read the next publication where a decision making model will be treated.
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