South Africa, Saudi Arabia deepen ties

first_img30 April 2012 There is great potential for increased trade and investment between South Africa and Saudi Arabia, International Relations Deputy Minister Ebrahim Ebrahim said during a meeting with his counterpart, Deputy Foreign Minister Prince Abdul-Aziz bin Abdullah, in Riyadh on the weekend. Ebrahim, who is on a two-nation tour of the Middle East and Asia, said South Africa had significant investment interests in Saudi Arabia, through various companies in the engineering, hospitality, retail and health care industries. Oil accounts for more than 90 percent of Saudi Arabia’s exports, and the kingdom is presently the largest supplier of crude oil to South Africa. According to Ebrahim, bilateral trade between South Africa and Saudi Arabia amounted to more than R37-billion in 2011 – despite the fact that relations between the two countries were “not at the level that they should or could be”. “We appreciate the importance of Saudi Arabia in an international and regional context, and have taken some steps to address the unsatisfactory state of affairs.” The deputy minister said President Jacob Zuma had extended invitations to King Abdullah bin Abdul Aziz al Saud and his foreign minister to visit South Africa. “We hope that these visits can take place soon, as the memorandum of understanding for the establishment of regular bilateral political consultations is ready for signature,” “Furthermore, allow me to take this opportunity to extend an invitation to you to undertake a visit to South Africa to further strengthen our bilateral standing,” Ebrahim said. South Africa and Saudi Arabia have so far signed eight bilateral agreements together providing a framework for co-operation, and the South Africa and Saudi Arabia Business Council was established in 2009. The two countries have also established a joint defence committee and a joint committee on science and technology. Source: BuaNewslast_img read more

Back to the Present: Hiring Executives for the Job at Hand

first_imgchris cameron Related Posts Tags:#start#tips 8 Best WordPress Hosting Solutions on the Market Top Reasons to Go With Managed WordPress Hostingcenter_img Why Tech Companies Need Simpler Terms of Servic… Earlier this month, Ben Horowitz of Andreessen Horowitz brought up an interesting topic surrounding the hiring and firing of executives at startups. While talking with a pair of his friends – one a VC and the other a startup CEO – the CEO asked if he should get rid of an executive as the company grows larger because he lacks experience leading a larger company. As Horowitz explains in his post “The Scale Anticipation Fallacy,” he believes passing judgement based on how an executive might perform in the future is ludicrous.His first point is simple enough: no one is born with the natural ability to manage a large company, so everyone needs to learn at some point. He also notes that it is impossible to predict how someone will perform in a hypothetical situation in the future, pointing to Bill Gates and Mark Zuckerberg as examples. Gates and Zuckerberg are the kinds of executives that are molded to fit in with their respective companies – a great CEO at one company is not automatically golden at another. “The relevant question isn’t whether an executive can scale; it’s whether the executive can do the job at the current scale.”– Ben HorowitzAs he continues with his bulleted list of why prejudging executives is a bad idea, Horowitz uncovers the argument I feel is most important when discussing “scalable” executives.“If you make a judgment that someone is incapable of doing something such as running a larger organization, then will it make sense to teach them those skills or even point out the anticipated deficiencies? Probably not. You’ve already decided that they can’t do it,” he writes.As noted earlier, he believes no one is born with the ability manage a large company, and assuming an executive will not scale with the company serves only to stint their potential and, as Horowitz puts it, “retard their development.” When forced to judge an executive’s abilities, focus on the present. The lesson? Don’t hire someone based on how you think they will do in the future; instead, fill the needs of the present and tackle the issues of the future as they come.“The relevant question isn’t whether an executive can scale; it’s whether the executive can do the job at the current scale,” says Horowitz. “Asking yourself whether or not an executive is great can be extremely difficult to answer. A better question is: For this company at this exact point in time, does there exist an executive who I can hire who will be better?”Certainly it’s important for startups to think about their futures when hiring executives, but I agree with Horowitz that it shouldn’t cloud their judgement too much. Firing someone based on how you believe they might perform in the future is just as dangerous as hiring someone you think might do the job well. In the case of the latter, an executive with the proper credentials to scale with a company might fail miserably at earlier, smaller stages. Is it better the stay within the moment and go with the executives that will perform well in the present? Or should executives be judged based on how they may or may not perform in the future? Let us know your thoughts on the issue in the comments! A Web Developer’s New Best Friend is the AI Wai…last_img read more