Problem Discussion: Today the pace of changes is increasing dramatically in the society andbecause of this entrepreneurship is becoming more important for the society’s development.African entrepreneurs experience serious difficulties in developing and sustaining effectiveorganizational arrangements and this is an obstacle to entrepreneurial development and thebalance needed for survival, growth and competitiveness. Zambia is a developing countrywhere measures need to be taken at all levels and fields of the society to reduce the povertyand one step is to increase the economic growth, innovation and job creation. Managementaccounting is needed to help decision makers to make good decisions and managementcontrol systems are the process where these decisions and strategies are implemented bymanagers. Entrepreneurship is a management process and encouraging entrepreneurialbehavior is one step to long-term vitality of economies.Purpose: The main purpose with this minor field study is to investigate how companies inZambia are managed and if the companies are managed in an entrepreneurial way. Theauthors also aim to investigate how managers in Zambian companies define entrepreneurshipand what they believe is needed for future business and entrepreneurial development in thecompanies and in Zambia.Methodology: The research is based on a qualitative method with personal interviews witheleven company managers in small and middle-sized companies acting in the formal sector inLusaka, Zambia.Conclusion: The authors’ conclusion is that small and middle-sized companies in the formalsector in Lusaka, Zambia are managed in a more traditional way than entrepreneurial.However the authors draw the conclusions that there are many entrepreneurial possibilities inZambia but the Zambian context and business environment makes the entrepreneurial processcomplicated. The authors believe that reasonable interest rates, consistency in inflation andexchange-rates, less bureaucracy as well as education and access to skilled labor are some ofthe most vital requirements needed for entrepreneurial development in Zambia.Proposals for Further Research: As this research indicates the informal sector in Zambia islarge and therefore the authors would find a similar research within the informal sector inZambia interesting. The authors also suggest that it would be interesting to identifysi...
