Unlike F&S, we believe that V is far from being ‘extremely’ stable; that it depends – besides on the economic cycle, as F&S also recognised35 – on technology, custom, opportunity cost, and on many other factors we do not grasp very well.
However, competent and able top managers and the Board of Directors may be, they have to follow set procedures, prior clearances and approvals by multiple ministerial bodies before they can make any operational decisions of significance. U-Fone lost 18 months’ valuable time facing various inquiries into its procurement while its competitors were enhancing their market share at its cost.