The burden of unemployment rests disproportionately on the shoulders of the youth. Due to demographic shifts that have created a massive youth bulge, today one-third of the country’s population is between 18 and 34 years old – far more young people than there are jobs to support them, according to the United Nations Development Programme (UNDP). The situation grows worse every year: According to the World Bank’s Kenya Economic Update, while 800,000 youth reach working age annually, only 50,000 new formal modern-wage jobs are created. It’s because of this imbalance that 80 percent of the country’s 2.3 million unemployed are between the ages of 15 and 34.
Faced with this grim scenario, Kenya’s youth are flooding into the informal sector, which, in 2011, created six times as many new jobs as the formal sector did. Those with enough capital and technical know-how go about founding start-ups. Whether starting an informal business or start up, various skills are important in determining the survival of the business.
When it comes to achieving business success, most people think it is mostly because of the strategy that the business comes up with. Strategy is one part of a whole range of reasons but not the only reason for success. There are a lot of things that amount to the success of an organization, and leadership without a doubt is one of the main reasons for this success.
Some businesses succeed despite their leaders, but as a general rule, it’s the leader that determines the direction of the strategy, provides the inspiration and shapes the culture that will keep the talent motivated and productive. The leader employs the tactics and decisions that form, to a large extent, how the competitive advantage will play out.
The following ways can leverage your leadership to impact your business positively: