Speaking during a panel discussion at the opening of the Third African SME Summit, Tang, who owns a fleet of businesses in Ghana, said every business needed the right control mechanisms to survive.
“For a Chief Executive Officer (CEO) of a company, two things you must do: The first is you have to make a good decision and then direct the company to the right direction. If you make the right decision, you have to justify it as soon as possible, otherwise you will damage your company,” Tang cautioned.
Secondly, the Chinese businessman prescribed that a CEO also had to make the right choice and placement of personnel.
“Choose the people; right people, put them in the right place, and let them do the right job.”
Monitoring the personnel and work progress, Tang insisted, was what would determine whether the tasks were performed according to specification.
“The system must be controlled, must be monitored very well, so you are free. I think, as CEO, you must keep your mind fresh everyday and do something for the future, like five-year plan, 10-year plan, so keep up doing,” he stressed.
Tang later told the media in an interview that there were lots of business opportunities in Ghana for SMEs to do, and urged discipline in the business place.
“There is a lot of chance for Small, Medium Enterprises. Everybody has a different way. I think all the big companies started from small. Nobody comes in with big company. As president of Chinese companies, we will like to send some of the Ghanaians to China to study to work in China, to get more experience from China. It’s also important,” he pledged.
The two-day forum and exhibition sponsored by telecom operator, Vodafone, brought together SMEs as well as financial institutions from major African countries.
It was under the theme “Entrepreneurship; Becoming a Ready Business”.
Many companies mounted stands to attract partners among the SMEs and financial sectors.
Professor Pikay Richardson, economist and visiting professor at University of Manchester Business School, and a Fellow at the Center for British Studies at Hambolt University in Berlin, Germany, urged government to create the right atmosphere for SME’s to grow.
“When you talk about SMEs, it’s not even a Ghana or Africa thing. It’s a global thing. In the United Kingdom, for example, over 90 percent of companies are SMEs. They are the engines of growth everywhere, not only in Ghana. So, if we can grow our SMEs, they will make an enormous contribution to the economy,” the economist added. Enditem