When one of your values is building lasting relations with clients, managing disagreements requires high emotional intelligence and wisdom. I firmly believe in respecting commitments and acknowledging when one has fallen short of the other party’s expectations. However, when one party takes the other for granted, to an extent where business survival is threatened, an external arbiter may be required. Because contracts often entail lengthy and costly dispute-resolution mechanisms, this is one of the areas where my business partners and I have had several disagreements. It is harrowing to face business bankruptcy when clients owe you substantial amounts, but you choose to walk away.
About Gwarega Dambudzo
With a background in social and economic infrastructure delivery as an engineer, I redirected my energy into mentoring owners of small and medium-sized businesses to formalise their structures, comply with legislation, improve operations and financial performance, manage risk, and build strategic partnerships. An MBA qualification helped me to hone these skills while leading and managing a consulting engineering practice I founded more than ten years ago. I am passionate about entrepreneurship, business strategy, governance, stakeholder engagement and risk management, skills I am ready to deploy on any Board as a non-executive director. On the topical nexus of environmental, social and corporate governance (ESG), I believe diversity and inclusivity are beneficial to organisations and should be leveraged responsibly without destroying the value-creating capacity of the organisations.
October 30, 2023
If you could gain one quality or ability that would significantly increase your business success what would it be? by Gwarega Dambudzo
October 24, 2023