Business Imperatives in a Developing Economy book launched

The launch of the book titled Contemporary Business Imperatives in a Developing Economy edited by Kwaku Appiah-Adu & Mahamudu Bawumia has taken place at the Ecobank Head office complex in Accra Ghana on 3rd May 2021.

The book makes compelling reading as it defines and ably discusses the subject of business imperatives within a defined context.  A business imperative involves a major change or goal a firm undertakes. It involves laying out an objective and developing a strategy by a business, for which the business makes public and aims to achieve. This means that every contemporary business that aims to achieve organisational success does so by initiating a number of business imperatives that drive and motivate the firm towards a brighter future. This is what this book, edited by Prof. Kwaku Appiah-Adu and His Excellency Dr. Mahamudu Bawumia discusses.

This interesting edited book explores a number of contemporary thematic business issues that are recognised as important drivers of enhanced corporate performance. The book is grounded in the core business principles, which broadly entail areas of finance and the economy, marketing, e-business, entrepreneurship, leadership and innovation, corporate governance, corporate social responsibility, business ethics and ICT. Each chapter explodes in the compelling thrust of the depth of wisdom and knowledge.

This edited book by the two astute scholars with foreword by Professor Emmanuel Akyeampong of Harvard University, is made up of fourteen chapters and contains contributions from both academics and practitioners in various business disciplines. The issues raised are very topical and relevant to contemporary business management. The chapters are well developed with examples that are highly relevant to the subject matter and also provide very useful lessons for business leaders, managers, researchers and students. 

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In the remarks by the editors, Professor Kwaku Appiah-Adu provided the motivation for writing the book, the thematic pillars the book was built on and their relevance to the developing economy context. He also discussed the process the editors adopted to get started and the challenges that had to be overcome in ensuring that the book saw the light of day, the critical role that the contributors and publisher (Ace Publishers) played in delivering a high quality product at the end of the process.

Concepts relating to organisational strategic and functional practices, competitive performance and the economic environment in which firms operate, continue to captivate the attention of diverse interest groups including governments, the private sector, consultants, and scholars, amongst others. Two broad questions have been raised regarding these subjects. First, what are the consequences of effective organisational practices on competitive performance? Second, does the economic environment influence business performance?

This book makes an effort to address these questions by exploring a number of contemporary thematic areas that are considered by business practitioners and scholars to have an impact on competitive performance. This book’s foundations are derived from a combination of thematic topics that dominate the mainstream strategic, business and functional business areas such as finance, marketing and human resources, as well as contemporary topics covering technology application, good governance, culture, and entrepreneurship. Given that the context within which firms operate is also critical to competitive performance, the book provides insights into the impact of a myriad of economic conditions on organisational success.

Following the remarks by the editors, the book reviewer, Prof Joshua Abor provided his views on the book.  He indicated that the book   is a true reflection of the editors’ immense experience in business and economics, and demonstrates their passion for effective and efficient management to drive the needed change in corporate Ghana.  He noted that it is written in a language that makes reading exciting and understandable.  Furthermore, he added that it will be a useful guide to CEOs, heads of institutions, corporate leaders and managers, researchers, students and individuals interested in improving their knowledge in business.

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A lovely musical interlude preceded the introduction of the guest of honour and the launch of the book by Rev Dr Joyce Aryee.  Afua Appiah-Adu (a land economist and lawyer), expertly performed Beethoven’s Moon Light Sonata which was followed by a Joyful Way medley performance by Lawyer Ace Ankomah (of BELA law firm) on keyboards, supported by Calvin Hammond.

The launch was attended by personalities including Lt Gen Obed Boamah Akwa, immediate past Chief of Defence Staff, Sam Okudzeto (Council of State), the Clergy, CEOs and Chairpersons and Captains of Industry,  CEOs of Public Sector Enterprises as well as from different Industries.  These included Banks, Insurance, Pensions, Telcos, IT Firms, Hospitality, Manufacturing, Extractives, Energy, Oil and Gas, Construction Industry, and the big four Accounting Firms.

It is interesting to note that due to the covid protocols, a number of university dons including Vice Chancellors and Fellows of the Ghana Academy of Arts and Sciences joined virtually as they did not want to be left out.

Following the successful launch, the Chairman of the event, Mr. Michael Ansah, himself a public sector CEO remarked that the launch had not only been well attended but highly successful. He noted that the policy derivatives from a book of this nature would significantly help CEOs, key government functionaries, consultants, academics and students improve on their business principles and contribute to the thought leadership and development of Ghana.

The book, published by a Ghanaian publisher Ace Publishers is available at Vidya Bookstores, Kingdom, Booknook, and Amazon. Quite clearly, access to the book is further aided by its availability online, ensuring that it has global reach and significance.

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