Dream Deferred: The Story of a High-Tech Entrepreneur in a Low-Tech World
Monique Maddy, an entrepreneur, founded Adesemi as an attempt to guarantee that third world countries had access to inexpensive wireless telecommunications. …
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However, just one month after the establishment of Adesemi, it all came crashing down. The company was liquidated, and she was devastated. Nevertheless, she has learnt an invaluable lesson about entrepreneurship especially the launching of companies in developing countries (Maddy 1).
1. The most essential lesson that Maddy learnt from her experience in the third world country was to ensure that a business person was well informed of the market that they were trying to penetrate. This is because surveys done before the actual establishment of the firm often give a very different picture of what the reality of the situation is in the country, in question. As such, she explains that she had underestimated the intricacy and extent of the venture especially in a third world country like Tanzania. If the company was founded in a country that was a little more developed, it may have had higher chances of success (Maddy 5).
Firstly, she learns the importance of selecting the best investors in the business. There are two kinds of investors the do-gooders and the do-wellers. The former category is more accessible than the latter; they aim to generate economic growth but are terrified of risks and are deeply entrenched in bureaucracy. This is the wrong kind of investor since at the possible sign of trouble; they flee and are only concerned about recovering their capital, as opposed to the business. Do-wellers are more difficult to locate, but they understand the risk and are more concerned about the business as opposed to profitability. This is an invaluable lesson since the appropriate investors play a big role in the success of the company, in question (Maddy 8). Maddy recognizes the significance of diversity in a firm but as she understood; the dissimilarities in opinion can be strenuous to a CEO. Therefore, a HR manager should be hired to improve tolerance in the business. This would result in a cohesive unit which will benefit the firm immensely. Another lesson that she learnt was that for a business to succeed in the emerging markets, it had to have some local partners who were interested in the long-term success of the business. As a result, the locals will provide valuable input that would develop the business ensuring its success. Finally, for a corporation to succeed in the third world economies, it has to have an investor who is tolerant and farsighted, willing to fund it and endure any problems that may face the firm. This would ensure that the establishment will inevitably become a success regardless of the difficulties it may face along the way. All these lessons that Maddy learnt from the collapse of Adesemi are noteworthy since they meritoriously describe the problems that investors and entrepreneurs in the third world country face. If they are all taken into consideration, but an interested entrepreneur, the business they intend to found will indisputably be successful (Maddy 8). 2. Other companies have taken root in emerging markets and prospered. Such companies include Celtel, Infosys and Royal Dutch/Shell in Russia. This is to mean that these companies must have used alternative strategies compared to Adesemi. Royal Dutch/Shell in Russia had a strategic alliance with the monopoly Gazprom which was a local natural gas producing firm. Having a native business on their side was among the causes for its exemplary performance in Russia. Adesemi did not have any local support from already existing companies in Tanzania. This may have been a contributing factor to its failure since local businesses could provide them with additional information about the
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Еhe focus of this analysis is mainly on the case of Adesemi Communications International. Шit aims to answer four specific points. Its objective is to discuss the reason behind the failure of Monique Maddy’s Adesemi Communications International. It targets to evaluate the impacts of the country and market conditions on the failure of launching a new innovation.
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