A warm welcome once again! I very much appreciate your patronage as we share valuable information to help build and promote entrepreneurship globally. In some of my previous blogs I mentioned some things about the unimaginable and intrinsic value of entrepreneurship to humanity. I remember stating that entrepreneurship has the capacity to solve so many ills in society that governments can never solve. This of course requires quite some effort on the part of entrepreneurs globally, and a paradigm shift in the attitudes and mentalities of entrepreneurs themselves, governments, society and other stakeholders. That is my opinion, and I’m entitled to it and will defend it even if you will object to this, criticize me, or call me names. I don’t even care if you come up with strong research papers against my opinion. Spare me that. Ok? So, as we develop entrepreneurship we are indirectly solving some of the world’s problems. Great!
Let me put aside that solutions-to-humanity agenda, as that is not my focus today. It is a by the by. My focus today is some terminology or phrase called integrated reporting and thinking. Have you heard about this Mr. Entrepreneur? Do you already know this or you are still grey or even opaque in this regard? It is reported that this principle originated from an initiative by the Prince of Wales in 2009, involving the Prince’s Accounting for Sustainability Project, and other stakeholders such as the UN, companies, investors, accounting bodies and accounting standard setters. I’m not going to bore you with more history and lots of things about this. In any case, you can do your own findings and satisfy your crave if at all you have it. My point is basically to bring out some important aspects of this principle that I think entrepreneurs should learn from. I desire that you get to know this (if you haven’t) before your accountant rams it into your mind. I’m an accountant myself but I know how accountants sometimes do things.
Again, I have entitled this blog Critical Lessons for Every Entrepreneur On The Future of Business, as I principally intend to keep bringing once in a while some new thoughts and directions that businesses are taking globally. This will ensure that we don’t remain behind as entrepreneurs. Come on, isn’t this pretty good? Don’t pretend to dislike this. I know you like it even if you don’t write back or document your response in this blog platform. This integrated reporting of a thing basically brings together various information regarding your business strategy, governance, performances and prospects. It does this in such a way that it creates value through demonstrating sustainability and reflecting the commercial, environmental and social context in which your business operates. I will leave it at that, as we don’t need to make things complex. Don’t you agree with me? So, what are some good things an entrepreneur must learn from this agenda? What value can an entrepreneur get from this? Read on and let’s explore some of the issues.
Candidly, I have overwritten today but I hope you have got some few good things anyway. Incidentally, never be too free and careless with your confidential and critical issues that competitors can take advantage of. I’m not telling you to write and expose everything about your business to the entire world, in the name of integrated reporting! Be smart.
With every good wish, as you move towards integrated thinking, reporting and action in the interest of the future of your enterprise and the world,
The Wise Entrepreneur