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research / germany
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There is no doubt that even businesses in
Africa go along with numerous risks. Exploring the fundamentals of the risk management
function as outlined in the respective contributions can therefore be an important
cornerstone for management in developing countries. By analyzing the roots and limits of
profits it is obvious that an asymmetric distribution of knowledge among economic
actors is required in order to explain why and how superior profits can be attained. Based
on this argument, it turns out that knowledge matters in competition. At the same time the
asymmetrical dispersion of knowledge requires activities of coordination. The more
professional these activities are performed, the more economic actors are in a position to
overcome the limits of profits. Coordination is therefore a means in order to facilitate the
transmission of the productive forces of a firm. Accordingly, entrepreneurial action
implies to find sufficient modes of both external and internal coordination. For developing countries in Africa several conclusions can be drawn. However among the most basic ones it has to be pointed out that knowledge availability and knowledge processing are becoming core in management. Moreover, contingent and country-specific coordination modes are to be developed in the face of both effectiveness and efficiency.
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