You have most definitely heard of this disturbing statistic most businesses in Uganda dont last more than 2 years Question is; for how long shall we be tied in the confines of such discouraging statements? You could have come across so many theories trying to explain why this is so but most importantly we cant under look the issue of lack of monitoring and evaluation (M&E) in our investments. To a greater extent many investments lack M&E activities to foster planning/ evidence based decision whereas others endeavor to monitor their activities but in a non-standardized/ unscientific way hence making such businesses prone to fall into the 2year statistic zone as they make business decisions by impulse. In order to change such statistics and improve our investment performance, we need to understand, appreciate, emulate and adopt a culture of undertaking M&E in our businesses. M&E involves developing standard customized M&E tools and activities that include but not limited to: conducting a needs assessment, conducting baseline studies/ impact assessments, market analysis, developing strategic long term plans, work break down structures, work plans, developing performance indicators & monitoring them, setting performance targets/milestones etc Lets build our businesses/projects/investments on the basis of facts/what is happening on ground.
Posted on: Wed, 07 Jan 2015 07:17:57 +0000
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