The rocky road to formality

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings New entrepreneurs often operate informally for longer than intended because of local legitimacy, competitive pricing and limited administrative capabilities. These mechanisms serve to impede transition into a fully formal status, meaning that policymakers need to act with measures that include making the formalization process gradual, providing early guidance and training, building trust and showing tolerance for genuine mistakes while business owners become accustomed to formality. Originality/value The briefing saves busy executives, strategists and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.