Engy KHALIFAEngy KHALIFAMarch 19, 2019

22min2910

Dr. Mahmoud Mohie El Din is the first Vice President of the World Bank. He is responsible for the 2030 Development agenda and United Nations Relations and Partnership.

Dr. Mahmoud has a strong academic track rekord. He graduated in Economics and Political Science at Cairo University, Egypt, then he obtained a diploma in Quantitative Development Economics from the University of WARWICK and a Master of Science degree ( Msc.) in Economical Social Policy Analysis. Later he gained his Ph.D in Economics from University of WARWICK. 

Dr. Mahmoud started his career in Cairo University for more than 32 years now where he reached a professor of Economics and Finance. He also held the position of a board member of the Central Bank of Egypt; in addition of being the Minister of Investment and International Cooperation for more than 6 years.

In October 2010 he joined the World Bank Group as a managing director as a Managing Director, and currently he is currently an honorary professor at Durham Business School, besides being the senior vice president of the world bank. 

Dr. Mahmoud created the ” Sustainability Index ( S&P / EGX ESG ) for listed companies in the Egyptian Stock Exchange “. Moreover he has an extensive list of publications.

 

EK: How would you describe the change that happened to the World bank since its formation?

MM: Overlapping crises, from climate change to pandemics, natural disasters to forced displacement, threaten to erase hard-earned development gains. And historic economic changes, in part from technological advancement and disruption, present risks for countries, but also opportunities if they have made the necessary investments in their people, communities, and economies to take advantage of them. The world needs partners that can help meet the challenges of today, while making the investments to prepare for the challenges of tomorrow.

There has been a great transformation in the way we do business and what we offer our client countries. By offering financing, knowledge, experience, and a long-term commitment to its country clients, the World Bank is a trusted partner for all its members to help transform economies and advance the 2030 sustainable development agenda. With a mission to end extreme poverty and boost shared prosperity, the World Bank supports its client countries in three priority areas: promoting sustainable, inclusive economic growth; investing more—and more effectively—in people; and building resilience to fragility, shocks, and threats to the global economy. The Bank applies this three-pronged approach across all sectors of development so that countries make the integrated investments that can best help people lift themselves out of poverty.

EK: How would you describe its culture?

MM: The comparative advantage of the World Bank comes from its powerful combination of country depth and global breadth, public and private sector instruments and relations, multisector knowledge, and the ability to mobilize and leverage financing. The World Bank’s principal institutions—the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA)—work in ever-closer coordination with the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA) to leverage the collective strength of the World Bank Group (WBG) for the benefit of its partner countries. The comparative advantage of the WBG comes from the powerful combination of country depth and global breadth, public and private sector instruments and relationships, multisectoral knowledge, and the ability to mobilize and leverage financing. Collaboration across IBRD, IDA, IFC, and MIGA has grown over time, and spans a range of activities at the regional, country, sector, and thematic levels.

World Bank experts are organized across teams of Global Practices, which focus on key technical areas of development, as well as Global Themes, composed of teams working to deliver on cross-cutting corporate priority areas, such as climate change, gender, fragility, infrastructure, public private partnerships, and guarantees. Collaboration across these teams allow for the development of comprehensive solutions for clients. The World Bank Group has made significant progress in aligning its budget to address development priorities, to reinforce selectivity and efficient delivery, and to maintain budget sustainability. It has done so through a combination of revenue expansion and spending containment measures that include completing an Expenditure Review that saved $400 million. The World Bank has also implemented new sustainability principles and budget indicators that allow for administrative expenses to be covered by revenues generated from operations and realigned its budget with strategic priorities. The Bank Group is committed to continued financial sustainability, strategic alignment, and efficiency.

 

EK: Its greatest success?

MM: Around the world, demand continues to rise for financing, expertise, and innovation. The needs are great—but the costs of failure are simply too high. Our shareholders are helping us meet that challenge with their approval of a historic $13 billion capital increase, which will strengthen the World Bank Group’s ability to reduce poverty, address the most critical challenges of our time, and help our client countries – and their people – reach their highest aspirations. In 2018, the World Bank Group committed nearly $67 billion in financing, investments, and guarantees.

In our work around the world, we’re facing overlapping crises such as climate change, conflict, pandemics, natural disasters, and forced displacement. We are simultaneously helping our client countries address immediate crises, build resilience against challenges on the horizon, and make enduring investments to prepare for an uncertain future. We work to achieve our twin goals: to end extreme poverty by 2030, and to boost shared prosperity among the poorest 40 percent around the world. Across the World Bank Group, we are harnessing new technologies and developing financial innovations to drive progress on the three parts of our strategy to get there: accelerate inclusive, sustainable economic growth; build resilience to shocks and threats; and help our client countries invest in their people.

EK: How does the World Bank Group work to achieve its twin goals?

MM: First, to accelerate inclusive, sustainable economic growth, we need a new vision for financing development—one that helps make the global market system work for everyone and the planet. In a world where achieving the Global Goals will cost trillions every year, but official development assistance is stagnant in the billions, we cannot end poverty without a fundamentally different approach. With the adoption of the Hamburg Principles in July 2017, the G-20 endorsed an approach that we call the Cascade, which will lead to our goal of Maximizing Finance for Development. The World Bank, IFC, and MIGA are working more closely together to create markets and bring private sector solutions in sectors such as infrastructure, agriculture, telecommunications, renewable energy, and affordable housing.

Second, to build resilience to shocks and threats—even as we continue developing climate-smart infrastructure and improving response systems—we need innovative financial tools to help poor countries do what wealthy ones have long done: share the risks of crises with global capital markets. This spring, we saw the first impact of the Pandemic Emergency Financing Facility (PEF) with a rapid grant to support the Ebola response surge in the Democratic Republic of Congo. With this facility—and a similar one we are developing to improve responses to and prevent famine—we are finding new ways to help the poorest countries share risks with financial markets, helping break the cycle of panic and neglect that often occurs with crises.

Third, to prepare for a future where innovations will only accelerate, we must find new ways to help countries invest more – and more effectively – in their people. The jobs of the future will require specific, complex skills, and human capital will become an increasingly valuable resource. With the Human Capital Project, which we launched this year, we are developing a rigorous and detailed measure of human capital in each country. At the Annual Meetings in Indonesia in October 2018, we unveiled the Human Capital Index, which ranks countries according to how well they are investing in the human capital of the next generation. The ranking puts the issue squarely in front of heads of state and finance ministers so they can accelerate investments in their people and prepare for the economy of the future.

EK: How is the World Bank Group supporting client countries to achieve the Sustainable Development Goals?

 

MM: The 2030 Agenda for Sustainable Development, adopted in 2015, was a watershed moment in development and diplomacy. Its declaration to protect people and our planet — and to leave no one behind — brought together nearly every nation on earth to endorse its 17 ambitious Sustainable Development Goals (SDGs) to be achieved by 2030. In July 2015, many of these same stakeholders met in Addis Ababa at the third Financing for Development Conference to discuss how this agenda would be sustainably financed. The World Bank Group participated in the formulation of these global agendas for sustainable development and financing and is already deeply engaged in helping to achieve them.

The SDGs are aligned with the World Bank Group’s twin goals to end extreme poverty and to build shared prosperity in a sustainable manner. Our country-led processes with our clients have shown us that countries have a strong desire to achieve the objectives of the 2030 Agenda, and as a result, our support for this work continues to grow. This work is not new to the World Bank Group; it was already part of our DNA as a development institution. Yet the establishment of the global goals has energized our efforts to work with our partners to achieve these ambitious targets. We believe that, working together, we can create a world that is more prosperous, secure, and just. The World Bank Group is working to achieve not only individual SDGs, but also the broader agenda for implementation, including finance and data.

EK: What are doing to meet the global targets?

MM: 

  • We engage with our country partners to help protect the poor and vulnerable, ensure inclusive and accountable service delivery, and improve resilience to economic, environmental, and humanitarian shocks.
  • We work to strengthen the private sector, so that it can create jobs and opportunities.
  • We promote regional cooperation on shared public goods and enable investments in critical infrastructure.
  • And we work with partners to provide assistance in education, health, nutrition, water & sanitation, energy, transport, technology, gender equality, the environment, climate change, and many other sectors.

Of course, to meet aggregated global targets, country-level results must be combined with the efforts of other nations. There are a number of daunting challenges to this global agenda — challenges which transcend borders, requiring international cooperation at many levels to address them — including climate change, pandemics, economic shocks, violence and fragility, inequality, lightning-fast changes in technology which disrupt markets, and polarization of our political and social institutions. To overcome these challenges, we need to work in partnership with multilateral organizations, governments, the private sector, civil society, foundations, and other stakeholders at the global, local, and sub-national levels. As a development finance institution, the World Bank Group will continue to play a key role in leveraging and mobilizing investments in both physical and human capital — with the help of the private sector — to spur inclusive and sustainable growth, create good jobs, and improve the quality of people’s lives.

Based on our experience in working with partners such as the United Nations to achieve the Millennium Development Goals, we learned there are two other factors critical to success: the availability of quality data (including monitoring and evaluation); and evidence-based implementation which grows from a shared commitment with country partners, and which leverages multi-stakeholder partnerships to deliver results.

 

EK: Africa has always been a forgotten destination, why are all the eyes on it now?

MM: Africa has never been forgotten by the World Bank Group and as region it has been our biggest recipient of our International Development Association (IDA), which is the part of the World Bank that helps the world’s poorest countries. IDA is one of the largest sources of assistance for the world’s 75 poorest countries, 39 of which are in Africa, and is the single largest source of donor funds for basic social services in these countries. IDA lends money on concessional terms. This means that IDA credits have a zero or very low interest charge and repayments are stretched over 30 to 38 years, including a 5- to 10-year grace period. IDA also provides grants to countries at risk of debt distress. In addition to concessional loans and grants, IDA provides significant levels of debt relief through the Heavily Indebted Poor Countries (HIPC) Initiative and the Multilateral Debt Relief Initiative (MDRI).

 

Let me add that 18 African countries are fragile and conflict-affected States. They have struggled, or are struggling, through war or political conflict to rebuild themselves and lift their people out of poverty. They are called fragile states, nations with poor health and education, little or no electricity, disorganized or weakened institutions, and in many cases no functioning governments. We know that political conflict is bad for development. It causes great human suffering and forces people to flee their homes and abandon their crops and livelihoods. It vandalizes communities and ruins institutions like healthcare, cutting off access to essential services and leaving workers and breadwinners without jobs and wages. It destroys roads, limiting cross-border and regional trade. And it diminishes hope and motivation, so that the millions of educated African youth who leave high school and university every year looking for jobs are left unemployed and dispirited.

The reasons people are fighting are largely economic – uneven access to natural resources such as land and water, too few jobs and persistent poverty. While conflict is bad for development, development is the answer to conflict. Therefore, the World Bank Group strategy for Africa builds on opportunities for growth and poverty reduction to support structural transformation, economic diversification, and inclusion within the new development finance framework. The region is made up of a combination of low, lower-middle, upper-middle, and high-income countries. Africa also has 13 small states, characterised by a small population, limited human capital, and a confined land area.

EK: What is the World Bank Group strategy for Africa?

MM: The Bank is responding to this diversity by providing a wide range of instruments – both traditional and innovative – tailored to the needs of the countries. Our strategy focuses on the following priority areas:

  • Agricultural productivity: There is a continuing need to accelerate progress in boosting agricultural productivity and output in Africa. Supporting smallholders through investment in improved technologies, rural financial services, and better access to markets is vital.  Equally important is the push to boost agribusiness investments and improve land and water management by adopting modern irrigation practices, preventing conflicts over water resources and implementing climate-smart agriculture solutions.

 

  • Affordable and reliable energy: Increasing access to affordable, reliable, and sustainable energy is a primary objective of the Bank’s work in Africa as inadequate electricity supply remains the greatest infrastructure obstacle in Africa. Thanks to the concerted efforts of the WBG, most of the energy generation conducted in Africa is handled by the private sector, and in a clean way. Through the maximizing finance for development (MFD) approach, we have mobilized over $2 billion in private investment in Kenya and nearly a billion in Cameroon so far.

 

  • Climate Change: Africa’s poor are likely to be hit hardest by climate change, particularly changes in temperature and rainfall patterns. Investing in climate change adaptation techniques and disaster risk management will remain top priority. To build climate resilience, countries will need help to both mitigate and adapt to the impacts of climate change and ensure food security. The Africa Climate Business Plan, presented at COP21, lays out a work program to help on both fronts.

 

  • Regional integration:Regional integration in Africa remains a critical emphasis of our strategy to improve connectivity, leverage economies of scale, and get collective action by countries to address shared challenges.

 

  • Urbanization: Integrated urban planning is at the core of our work in Africa, addressing water, sanitation, transport, housing, power and governance, that are vital to making urbanization a true driver of productivity and income growth.

 

  • High quality human capital:Each year in Africa and for the next decade, 11 million youth will enter the job market. Young Africans must be equipped with the right skills and training. There is still a mismatch between what African students are learning and the skills employers are actually seeking. To help bridge this gap, the Bank has launched initiatives to boost science, technology, engineering and mathematics (STEM) across the region.

 

 

 


Engy KHALIFAEngy KHALIFAFebruary 17, 2019

32min4090

Mohamed Fakhr Eldeen is currently the CEO of Optima world Egypt.

Formerly CEO & founder of “Logos International Egypt”. Mohamed is a Certified Trainer in Change Management Strategies and Techniques from IMD, Lausanne, Switzerland 2005, and a Certified Trainer from Xerox Corporation.

Mohamed has a B.Sc. in Civil Engineering from Alexandria University, and has been enrolled in preparing Master of Management Learning & Development MMLD at Euro Arab Management School Granada, Spain. He has thirty two years of progressive hands-on experiences covering Strategic/Tactical Planning & Business Development in Service Quality & HR Management, Human capital Training & Development, Assessment & Execution covering areas of: Change management, Leadership, education, Retail & Corporate Sales, Marketing, Telecom & Delivery Channels, with a specific focus on enhancing Sales & Customer Service Strategy Centric. Mohamed has a wide-spectrum portfolio of Senior Management jigsaw components that interlock together to formulate a strong platform to Lead Organisation & Business Development as well as Total Business Results Management & Execution for different wide range of business enterprises, that experience domain results from smooth management and effective running of different business functions with multinational companies, mainly companies adapting the concept of the “Learning organisation”, “Human Resources Value Recognised and Consultancy Relationship” as well as “Customer Value Added Services”.

  1. Can you tell us about the shifting from engineering to the field of business and management?

Well you are asking a very deep question as actually what happened about shifting from engineering to sales and business is not only a career change it has been a full paradigm shift, and it happened out of coincidence after I finished my engineering school and graduated I worked for two and half years as an engineer in the Egyptian Army where I did practice technical engineering in some aspects. When I finished my military services, I asked myself is this what I really want; I mean working in the concrete field with all those workers, graphs, and grey-colour environment?

The real answer was a big sharp no; I wouldn’t like to live this for the rest of my life. At that time, I didn’t have any clue on how to shift, but by chance when God sends you some signals you must follow them. Later I met a friend who was working for a company in the field of sales, marketing & customer service and he was just chatting with me about my plans at that time as I was done with my military service; my response was that I am looking for a job as an engineer but really, I was not so happy with the technicality of engineering. I like the methodology and the way of thinking I gained from engineering, but I don’t like the technical part. So, he proposed to me that I come and join same company, I will tell you later what’s his company is as its one of the major tycoons. For me to apply for that company as a salesperson I had been shocked and told him that I have never studied business or sales or marketing. He told me that I have what it takes to be a sales person, you are a very social person, extrovert, you have a good connection, and you can do some extra connections, you can join this company and it called “XEROX”.

I said what’s XEROX; he told me it’s the biggest worldwide organisation selling documents solutions and at that time I was shocked to find myself lacking some knowledge anyway.

In the interview I was hesitated as deep inside I was refusing the change, I was refusing to get out of my pre-known comfort zone. The branch manager I had been interviewed by told me that you are here for the job of sales what can you offer us? I answered him that I knew you want a person with a good connection and PR skills and I am that person.

Then I chatted with him for the rest of the interview and at the end he told me “Welcome to Xerox”. So when I went to join the training course of sales, for three months I was telling myself that I have to return to engineering but when I practised sales out of the scientific base they trained me on then I started making some success I found out that I am in the right place, I am a person for business not a person for technical engineering. That’s my story of shifting from engineering to sales and marketing. Moreover, I want to add something as at that time when I quit my job and I had to travel to Cairo as I was living in Alexandria at that time, I was a little bit amazed and puzzled and I didn’t know what to do. So I had the luck to have my father as my mentor; he told me that many successful people and he mentioned some names in the field of press are very successful despite to the fact that they hadn’t study literature or press and he mentioned some glorious name in Egypt so my father told me go and try whatever you think you like and come back if you didn’t like it you can shift to something else. I was lucky to have a mentor in my life that is why I see that every young man and woman needs to have a mentor in his life to help him to take decisions.

  1. What about the challenges you have faced and how did you manage to overcome them?

The first challenge I had was the shifting of the knowledge frame I had acquired from typical engineering base, columns, ceilings, and concrete to knowing how to sell in a scientific way; that was really challenging as all I was studying was technical and I had nothing to do with PR, Sales, or Marketing. I overcome this challenge by something I advise young people to do which is listening effectively to my trainer and to any one with experience to learn, acquire as much knowledge as you can from your teachers or trainers, and applied what I did learn scientifically and that helped me much to overcome the gap between what I thought I know and what I thought I don’t know.

In addition to this an incident had happened to me in the training which proved that learning can happen scientifically and efficiently; a part of the training was technically about the features of copy machines and the trainer kept telling us about the features of machines and I really felt that I don’t understand anything I felt that I want to quit the training and the job and went out of the classroom and my trainer felt that I am not digesting what she explained so she told me to go and copy some stuff with different sizes and jobs too. When I got to the copy room I found myself suddenly recalling what she taught us in the training and start applying what she taught me so that was the first gap between what I thought I knew and what I thought I did know. While working I had some gaps too like applying the sales science I knew, I also had some challenges which small details and I were could overcome this by try and error accompanied by mentors or more senior people coaching.

I also overcame this gap by continuous reading and continuous self-development as Stephen covey said as I have to  sharpen my own sew and continuous development of my own humble self-kept me always updating and always ahead of my colleagues and my fellows.

What also helped me is three things in addition to what I said; first thing was diversifying the field of knowledge I learn I mean reading and everything. Reading about business, technicality, finance, administration, engineering, politics, and even global conditions. So, reading to acquire different diversity of knowledge helped me a lot. The second thing is connecting myself to many people and making PR in different company departments, the company I worked for at the beginning of my career helped me to acquire a lot of knowledge which was beyond my core of business, I have connected with people in the field of HR, sales, finance, operation, and technical service. They gave me a lot of knowledge that broadened my spectrum of intellectual capacity. Third thing is connecting myself with some business and social communities; like the chamber of commerce, German chamber, Canadian chamber, and American chamber. All that stuff helped me to gain some connections, some PR, some business acquaintances. All of this was enveloped by the skill that my parents gave me which is reading; I always read a lot and acquire knowledge.

 

  1. From your own experience; what is your best success recipe and strategy?

Well; I do believe there are a lot of diverse aspects to success; I can remember a movie I have seen about 20 years ago which was “Secret to my success” which addressed one part of success which is being an opportunist. In addition to this I do think from my humble opinion is that success is the submission of totally integrated aspects that formulate success, something like six sigma concept, however I would add other factors. The first factor is learning; where it comes from acquiring knowledge from a knowledgeable people or during life incidents. The second thing is the trial under coaching which is an essential part of success. Then; thinking out of the box as for me I used to dream first then go and achieved what I am dreaming of I do remember while I was working in sales I used to dream of approaching specific client with a specific solution or product and everyone thought that it was impossible but I succeeded and I was awarded as being the first person to achieve top salesperson from the company outside the headquarters. Next is the smart hit, you must know where to hit not just hit. Another factor is PR where you must increase your social network and business network and as Philip Kotler said in his books “Marketing is Relationships” marketing is not only your products but also yourself. Also playing in a team is a very important factor besides believing in yourself. Finally; you have to know what the mission or vision of the company you work for and you have to make it your own motto. I think these are the magic recipe for success.

  1. What do you think about the youth inclusion in the Egyptian economic development?

First let’s talk about the idea of inclusion and integration in itself, you cannot have any sort of movement, change, or development unless you include all the stakeholder of that change. Our Egyptian demography consists mainly of youth; and those young people have inherited and took over the Egyptian economy of the past three decades so if you don’t include them and integrate them in the development plans there will be failure.

We can include them in two ways:

  • First way is to get them prepared and that can be done through forums, conferences, trainings, and education to be ready to take over the economical platform in the coming decades.
  • Second way is having them to mirror-image the role of the senior economists and I think that the government is doing a great job now in terms of preparing the youth. Examples are available as the presidential leadership programme. If you don’t prepare them; you will find two bad things. First thing is the negative momentum pulling us back as they refuse to go with the change and the second thing is wrong actions in term of economical knowledge which will take us back. In addition to that we will find something taking place which is very negative that these young people will refuse the actions that are done by elders and will formulate a resistance that will take us away from the development action plan that is being executed in Egypt now.

By the way the Egyptian vision is named under 2030 which means they are preparing the youth for year 2030 so the youth by any means will take over their place. Final thing we will use is that we will not get the feedback of our real customers that will take over our economic platform who are “Young people” , so I do think that the government are doing some efforts to include the youth in major activities. Also, if we talk about the integration and inclusion of youth in terms of philosophy and concept itself there are some individuals’ trials in our community that have proved success of inclusion of youth, one of the success stories I know is about the Egyptian Scout & Girl Guide Federation which is part of the Arab Scout Federation and the world Scout bureau which has been working for years now to include and integrate the young leaders to take over the leadership and strategic management of the Egyptian Scout Federation this federation includes almost one million boys and girls.

Also, I would love to mention something I observed during working with young people for many years now; a new trend of the youth and we cannot neglect them as they are our customers. The new trend is the start ups and the small micro-businesses accordingly as this is the mindset of the young people we cannot even deny that a major part of our future economical growth will be composed of small and medium enterprises as these young people have the will to start up and they are succeeding in it.

  1. And what advice would you give to young entrepreneurs?

Well I cannot give an advice as it is a big word, but I can give some guidelines for success. First I say have your vision, have your dream, dream and don’t be afraid of dreaming, and if you dream work to accomplish it, think out of the box, think what others might not be thinking of ; so, my first advice is Dream.

Second advice is when you dream you push the walls far from you, break the walls.

Third advice is after dreaming and thinking out of the box, take a deep breath, go back and look from a very far and deep eagle-eye perspective and work out on how to achieve that dream in a practical way.

Another piece of advice do not refuse and always consider elders opinions, they might say old style wisdom yet the cheapest way to learn is to learn on the cost of others experience,  elders made their mistakes and they don’t want you to repeat their same mistake.

Also, they must take into their consideration the definition of stupidity. which is doing things every time the same way and expecting different results, so don’t repeat what the others do in the same way. I mean get the benefits of learning and put your own hands to achieve it. Additional advice is don’t be afraid of trying, try, make mistakes, and get the benefits out of it.

Work as a team; you cannot succeed alone, have your own labelled idea, persona, style; even if it is different or considered wild or mad just have your own fingerprint. Another advice that might seem a little bit old, but once I read a book about sales and in page 2 there is a quote that said “ Customers like to deal with people they like and trust because they are professional and different” so my advice to young people is be professional do your job up to standard and books so you will be different and people will like to work with you or buy from you if you have something to sell; stick to the values and Good behaviours because still people like well raised up people, being out of the box or wild does not mean being impolite or rude. One very important advice is adopting the concept of quality which means doing things right from the first time and every time and have everything written and follow the recipe and what you promise is delivered 100 % of it. Believe in yourselves, believe in your GOD, believe in capabilities. Globalization is very good but doesn’t mean losing your persona or your own Identity.

  1. How do you evaluate the current Investment ground in Egypt?

Let me tell you my observations as a business person and sales trainer, I think what is happening now is that we are trying to shift our investment from consumer-based investment to real long term investment in the infrastructure which leads to better economic status and growth in the industry, I mean that investment in Egypt used to be for a while in consumer goods like FMCGs; of course I have nothing against them but what I mean is that they are just consuming goods. So, what we need now is to know where our strength is; I think our strength in this country comes from more than one factor. First factor is the Human Capital which if developed and led the right way will be a great power, we must invest in infrastructure and that’s exactly what the government is doing now. They are investing in electricity, water, new cities, roads, and all that stuff. Assessing our investment Geo-economic map; creating diversity all over Egypt as every governorate has its own strengths and opportunities for investment. We also must work on integrating all these investments opportunities all over Egypt in the main 2030 vision. I think we need to develop our people, know where to invest, how to invest, and know our strengths and work on it. I recommend not doing the investment in things that are not ours. Now we are shifting from economic situation of consuming to real production.

  1. So, what is your opinion about the Egyptian sustainable development experience?

I think from my humble opinion it is the first time to have a real vision and a master plan for this country. This vision really contains many diverse fronts that we are working on, very integrated yet smart I mean some objectives are very smart, achievable, and measurable. My only concern is that according to the change management theories and concept, there will face some resistance people are not ready to share creating their stake in the GDP, some people are used to get paid without working. We are also facing another problem which the parallel economy is where people are working and not paying taxation and are working in an unorganized way. Anyway, this vision looks to be achievable, realistic, also tough because it contains a part which is letting people work, really work and not just having money without working. I went through the 2030 in every aspect and I think we will achieve it, yet I am focusing on the resistance that we might face.

  1. In your opinion; how can the Egyptian regime overcome the change resistance?

Let me tell you first where the resistance will come from, scientifically when a change happens in the beginning the population of change is divided into three sectors. Maximum of 25 % of the population is called “early adaptors”, minimum of 25 % of the population is called “resistors”, and 50 % of the population are called “inbetweeners”.

The inbetweeners are waiting to see the WIFM; what’s in it for me from this change. Either the benefit of doing that change or the loss of not doing that change.

The major vital role of the change steering committee is the will and the continuous process to convince many of those 50% people to join the 25% of early adaptors to formulate the big cluster that will achieve change. Yet at the end I think we will have refusers that will stay like this, unfortunately I have to say this, but they will be distinct, obsolete and they will not be considered in the future population of the change. We must know first why people refuse change where the resistance come from. The reasons are fear of loss, feeling comfortable in their place, not being convinced with the subject of the change, not believing in the steering committee, or even people that are not changers by nature; these are the main reasons of resisting to change and the steering committee must handle every refuser out of his own reason. Yet, we value resistance for some other reasons, because they must know that they are mistaken, they must know that they have to change a little bit to fit more, they might be reasons of raising up some extra questions that helps us to do the change in a better way, or the tactical benefit of showing themselves to know where the  resistance  is coming from. Every change is not a resistance and every change has got the distinct part of the population.

  1. Now let us talk about what is currently happening globally; What do you think about BREXIT?

I think in my humble opinion that politics is based on pragmatism which means where your interests comes or goes, you go after it. So, the British people as history proved; they go for the interest of their own country. Now the BREXIT is for the favour of the Britain and not to the other European countries, as they found themselves not having a lot of benefits from the political and economic point of view from being among the European Union, so they are quitting. In my opinion this Brexit will formulate two clusters USA and Britain in one party and the other European Countries on the other party. Germany and France will pay the bill as usual, the English people will refuse to share their part of the bill. Anyway; it is part of the new regime. The European Union might have the will to continue together, so they must again study their benefits, and what every country will add to this European Union. Also, what Britain took away with them during their exist should be compromised by the other countries. I can see also another formula or mirror imaging from this Brexit, which was what QATAR did in quitting the OPEC after 57 years of being a member. I think something is happening now intentionally to break the classical old clusters of this world, we will see in the coming days some counter actions and some corrective actions from the owners of those clusters to rectify their position.

  1. What about “Yellow Vests”? Do you think that Globalization is related to them?

well the yellow colour is always meant to be an alert colour “take care”, anyway what I say now is unfortunately the European Spring , it is phase two of what was called the Arab Spring as this is a movement of other bigger entities to take care of this mess or this chaos, what I mean that all of these are a bad expressing of anger and I think these yellow vests are moved by some other major movers who are moving them from behind the curtains, I am not sure if they are really expressing anger from the economic situation or from the high cost of living. I think it is an act that was intending to be part of the big plan of “springs” formula or phenomena.

Globalization is good; globalization is a mean of crossing the border, but it has a good part and bad part. Good part is like increasing the trade, the bad part is losing your identity. I think each country must have both sides of the coin. The global part in terms of relationships and trading with others, and the other side is the local part where you keep your identity. I do like the Japanese part of Globalization which is exceptionally modern and well related to western world and yet they still keep their Japanese persona and cultural depth.

 


Heinz LORSEHeinz LORSENovember 19, 2018
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12min10990

Compliance – Placebo für den Vorstand?

Versetzt der Glaube Berge? Irgendwann zu Beginn des 21. Jahrhunderts hielt „Compliance“ Einzug in die Chefetagen (!) der Deutschen Wirtschaft. Zunächst in Aktiengesellschaften, zog der Mittelstand schnell nach. Endlich hatte man ein System zur Verfügung, mit dessen Hilfe man den leidigen Regelverstößen und Rechtspflichtverletzungen einen Riegel vorschieben konnte. Glaubte man zumindest und schluckte fleißig diese Wunderpille. Wie das gelingen sollte, wurde eifrig diskutiert. Das Testat der Wirtschaftsprüfer verlieh dem „Compliance-Management-System“ Segen und Anerkennung. Also alles bestens! Oder etwa nicht?

Auf bunten „Blättern“ verkünden die Webseiten bis heute die angebliche Wirkung. Vertrauen, dieser Begriff wird darin arg strapaziert. Im Widerspruch dazu stehen die Skandale, insbesondere in der Automobilindustrie und im Finanzsektor, aber nicht nur dort. Hat das Compliance-Management-System nun Risse bekommen, oder tritt einfach nur zu Tage, dass der Grundgedanke an sich fragwürdig ist?

Compliance ist ein zusätzliches Regelwerk zur Beachtung von ohnehin bestehenden und verbindlich zu beachtenden internen Regeln und externen Rechtsvorschriften. Eine in der Wirtschaft wohl einmalige Konstruktion. Der Glaube an das Compliance-Versprechen ist bist heute ungebrochen: Mache Compliance und nichts passiert. Versetzt der Glaube jedoch wirklich Berge? Verhalten sich die Menschen nach der ‚Einführung des CMS wirklich von jetzt auf gleich regeltreu? Ein merkwürdiges Führungs- und Menschenverständnis, dass es einer Regel bedarf, damit Regeln beachtet werden. Ja sind denn die Regelverstöße in der Automolindustrie oder im Finanzsektor nicht bekannt, die trotz Compliance betrieben wurden (und möglicherweise weiterhin werden?)?

Es tobt ein hybrider Wirtschaftskrieg, der endlich als solcher verstanden werden muss. Offene Flanken, ausgelöst durch Regelverstöße, sind zusätzliche und sehr willkommene Einfallstore für die Gegner, welche mit neuen, ganz anderen und innovativen Kundenproblemlösungen Mehrwert anbieten und die „alten Hasen“ links und rechts liegen lassen, einfach so, und dass mit beachtlichem Erfolg. Das ist neu, die „Großen“ sind angreifbar geworden, sogar substituierbar. Darin liegt die eigentliche Gefahr für die schwerfälligen und in überholten Unternehmens-, Kommunikations- und Führungsstrukturen verhafteten Flaggschiffe der Deutschen Wirtschaft. Die Aufgabenfelder „Strategie, Recht und Integrität“ sind, sofern überhaupt vorhanden, selten funktional ausgebildet. Ebenso schlimm erscheint das falsche Verständnis der eigenen Produkte, die selten ganzheitlich durchdacht und am Kunden ausgerichtet angeboten werden. Der Kunde wünscht Mobilität, aber er erhält weiterhin ein Auto wie zuvor. Marketing preist unentwegt glänzendes „Blech“ mit viel Elektronik und tollen Versprechungen an. Die „Freude am Fahren“ vergeht in den überfüllten Städten spätestens bei der Suche nach einem wohnungsnahen Parkplatz. Wenn dann die Abgaswerte „geschummelt“ werden und Fahrverbote drohen, fällt jeglicher Glanz und Glaube ab.

Rechtsverstöße und Regelverletzungen wirken toxisch und beschleunigen den Niedergang. Die Gegner haben leichtes Spiel! Das Management spürt davon offenbar wenig. Man baut weiterhin (nur) Fahrzeuge und verkauft Finanzprodukte, die man selbst nicht versteht.

Strategie heißt, Heute für das Morgen Sorge (Prokura) tragen und handeln. Auf Strategie zu verzichten, ist jedoch auch eine Form strategischen Handelns, wenn auch eine sehr gefährliche. In diesen beiden Sätzen sind die gegenwärtigen Defizite vieler Unternehmen beschrieben. Das führt zu verletzlichen und angreifbaren Strukturen. Charismatische Vorstände, z. B. Alfred Herrhausen, waren leuchtende Vorbilder und haben die Gesellschaften geprägt und erfolgreich an den Märkten positioniert. Die Nachfolger haben davon gezehrt, jedoch dann den Konzernen einen anderen Stempel aufgedrückt, der an die Herrschaft im römischen Reich erinnert. Die persönliche Macht (und deren Erhalt) wurde zum alles bestimmenden Faktor.

Der Wandel der Zeit, durch die Globalisierung und Digitalisierung gegenwärtig wie von einem Turbo-Lader angetrieben, führt zu vollkommen neuen Anforderungen in den Unternehmen. Der globale Wandel und die Digitalisierung greifen tief in die unternehmerischen Strukturen ein und erfordern eine neue Führung, damit Delegation von unternehmerischer Verantwortung möglich wird. Nur dann werden auf globalen Märkten Mensch und Technik im Sinne kundenorientierten Handelns zusammenfinden. Die Zeiten sind vorbei, in denen sich der Unternehmenswert an immer neuen Absatz- und Umsatzrekorden und höchst zweifelhaften Bilanzgewinnen orientiert, die dann irgendwann über Rückstellungen abgeschrieben werden. Nur selten werden die für diese Entwicklung verantwortlichen Manager „zur Kasse“ gebeten. Das bleibt in der Belegschaft nicht verborgen.

In diesem Zusammenhang ist nun die Frage der Wirksamkeit von Compliance-Systemen zu stellen. Wurden die Regelwerke nicht verstanden? Wurden sie anhand ihres Umfangs überhaupt jemals verstanden? Haben die ständigen Kontrollen und Prüfungen des rechtskonformen Verhaltens versagt oder war die Anzahl der Kontrolleure zu gering? Oder haben die Ursachen für das Scheitern von Compliance nicht vielmehr viel tiefere Ursachen?

Die Großen verschlafen immer noch den Wandel der Zeit! Das gilt nicht für den Mittelstand, der Säule der Deutschen Wirtschaft. Hier werden fortgesetzt hervorragende Leistungen erbracht, die weltweit Anerkennung und damit Umsatz und Ergebnis finden. Ganzheitlich durchdachte Kundenproblemlösungen – viel mehr als ein Produkt – tragen dazu bei. Denkbar auch, dass die im Vergleich zur Großindustrie eher bescheidene Größe Vorteile für die Führung und damit die Unternehmensfunktion bietet. Denkbar auch, dass hier Führung noch in einer ursprünglichen und förderlichen, die Menschen motivierenden Art und Weise möglich ist. Das zeigt sich dann auch darin, dass Regelverstöße eher eine Ausnahme sind. Vom Mittelstand lernen, wäre eine erste Empfehlung an die Großen!

Die „Großen“ besäßen das Vermögen, sich Denkfabriken zu leisten, in denen die Zukunft strategisch vorbereitet wird und Lösungen entwickelt werden, die weg von der Einzelbetrachtung eines Produkts und hin zu ganzheitlichen Anwendungen führen. Am Beispiel der Automobilindustrie kann dieser Anspruch einfach aufgezeigt werden. Es werden „Autos“ hergestellt und verkauft, viel Blech, noch mehr Elektronik, selbstfahrend usw. Tatsächlich benötigt der Kunde Mobilität. Diese ist im Zeitalter der Digitalisierung möglich, gleichwohl sind die diesbezüglich möglichen Lösungen strategisch bisher wohl noch nicht bedacht worden. Man beschäftigt sich weiterhin mit Compliance und verspricht Vertrauen auf den Webseiten, bunten Blättern im Herbst gleich, die von den Bäumen fallen. Aber davon nehmen scheinbar nur die Kunden Kenntnis. Der Winter kommt bestimmt!

Wenn das Unternehmen wie eine mechanische Uhr tickt, die vielen Rädchen im Gleichklang „ticken“, dann, nur dann funktionieren die Geschäftsprozesse. Nur dann haben alle Beschäftigten verstanden, was unternehmerische Verantwortung bedeutet. Regelverstöße und Rechtspflichtverletzungen stören den Gleichklang und sind tabu. Das erkennen die in ganzheitlich modellierten Prozessen unternehmerisch tätigen Menschen. Regeltreue wird zum Standard. Das macht Führung aus, wenn die Menschen nicht mehr Mit-Arbeiter sind, sondern ihr Vermögen (!) in unternehmerisches verantwortliches Handeln umwandeln (dürfen, können!) und in der Summe einen lebendigen Organismus verwandeln, der gemeinsam auf die Ziele und für die Kunden hinarbeitet. Das System „Ameisenstaat“ kommt in den Sinn, die Ordnung im scheinbaren Chaos, die uns beim Spaziergang im Wald so beeindruckt. Alles ständig in Bewegung, die Kunden im Fokus, und das in einer ständig selbstlernenden Gemeinschaft. Nur so hat profitables Wachstum auf globalen Märkten in Zukunft Chance.

Compliance? Nein! In Zukunft muss Regeltreue selbstverständlicher Anspruch in organisch strukturierten unternehmerischen Gebilden sein, in denen neue Formen von Führung, soziale und unternehmerische Verantwortung aller Glieder praktiziert wird.

Die Zukunft muss täglich neu erfunden werden. Der Wandel beginnt im Kopf!

Heinz Lorse November 2018


Laura GOSEMANNLaura GOSEMANNNovember 19, 2018
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6min5050

Ohne eine Zulassung darf in Deutschland kein Fahrzeug auf öffentlichen Straßen bewegt werden. Allerdings gibt es eine große Auswahl von Autokennzeichen, bei der man leicht den Überblick verlieren kann: zeitlich befristete, rote und grüne, das EU-Kennzeichen, solche für Oldtimer und gesonderte für E-Autos. Und auch bei der Zeichenkombination auf dem Nummernschild ist nicht alles erlaubt. Was Manager bei der Wahl des richtigen Autokennzeichens, z.B. für einen Firmenwagen, beachten sollten, erfahren Sie hier.

Kosten für Autokennzeichen

Das teuerste Autokennzeichen der Welt wurde in den Vereinigten Arabischen Emiraten für über fünf Millionen Euro versteigert. Es zeigt lediglich die Ziffer fünf – die Lieblingszahl des Käufers. Dieser Fall ist das beste Beispiel dafür, dass im Bereich der Nummernschilder beinahe alles möglich ist.

Hierzulande fallen die Gebühren für Wunschkennzeichen selbstverständlich um einiges günstiger aus. Sowohl die Anfertigung als auch die Anmeldung bei der Kfz-Behörde variieren aber je nach Bundesland.

Welche Kennzeichen sind erlaubt?

Grundsätzlich ist bei den Zahlen- und Buchstabenkombination das meiste erlaubt. Je nachdem, in welcher Stadt man die Anmeldung vornimmt, können sich lustige oder auch zweideutige Anspielungen ergeben. Selbst wenn sich einige Verkehrsteilnehmer daran stören, sind Kennzeichen, wie S-EX 69 in Stuttgart oder BIT-CH in Bitburg, nicht verboten.

Auch manche Behörden senden mit ihren Nummernschildern Botschaften, z.B. die Augsburger Rettungswagen, die bei einem Unglück mit dem Kennzeichen A-UA vorfahren, oder der Abschleppdienst im niedersächsischen Helmstedt mit der Kombination HE-LP.

Wer seinen Firmenwagen ebenfalls mit einem passenden Kürzel versehen möchte, dem sind – bis auf die eigene Stadt – somit kaum Grenzen gesetzt. Seit dem neuen Gesetz im Januar 2015 ist es Kfz-Haltern aber auch bei einem Umzug möglich, ihr vorhandenes Kennzeichen zu behalten. Wer also unbedingt einen anderen Anfangsbuchstaben benötigt, kann sein Fahrzeug sogar in einer anderen Stadt anmelden.

Was ist verboten?

In Deutschland sind aus historischen Gründen einige Verbote bei den Nummernschildern verhängt worden. So werden in keinem Bundesland die Buchstabenkombinationen HJ, KZ, NS, SA und SS zu finden sein. In Brandenburg sind zusätzlich die Zahlenkombinationen 88, 18, 8888 und ähnliche untersagt. Und auch in bestimmten Ortschaften ist Vorsicht geboten, wie z.B. im Kreis Dithmarschen (Heide) in Schleswig-Holstein, wo das Kfz-Kennzeichen HEI-L nicht vergeben werden darf. Einschränkungen bei der Wahl der Nummernschilder sind somit ausschließlich für Anspielungen auf die Zeit des Nationalsozialismus vorhanden.

Typologie der Autokennzeichen

E-Autos werden im Management-Bereich immer beliebter, und auch für diese gibt es gesonderte Nummernschilder. Grundsätzlich sehen sie zwar aus wie die üblichen EU-Kennzeichen, hinter der Erkennungsnummer ist aber zusätzlich ein „E“ eingeprägt, welches Vorteile und Sonderrechte für den Fahrzeuginhaber einräumt. Dazu gehören z.B. teilweise kostenloses Parken, freigegebene Busspuren oder aufgehobene Zufahrtsbeschränkungen.

Noch immer beliebt sind Fahrten mit dem Oldtimer. Dabei handelt es sich um einen Wagen, der vor mindestens 30 Jahren erstmals in Verkehr gekommen ist, weitestgehend dem Originalzustand entspricht und sich in einem guten Erhaltungszustand befindet. Um eine Zulassung für den Dauerbetrieb seines Oldtimers zu erhalten, muss sich auf dem Kennzeichen ein zusätzliches „H“ am Ende befinden. Das sogenannte 07-Kennzeichen mit roter Schrift wird dagegen nur verwendet, wenn das betreffende Fahrzeug an Veranstaltungen teilnimmt, die laut Fahrzeug-Zulassungsverordnung (FZV) “der Darstellung von Oldtimer-Fahrzeugen und der Pflege des kraftfahrzeugtechnischen Kulturgutes dienen”.

Weitere Informationen zu Autokennzeichen in Deutschland, z.B. zu den Sonderkennzeichen der Behörden oder den Sanktionen bei einem fehlenden Autokennzeichen, finden Sie kostenfrei unter www.bussgeldkatalog.net/kfz-kennzeichen.


Michael KOHLHAASMichael KOHLHAASSeptember 27, 2018
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1min4910

Welches Bild haben Sie vor Augen, wenn Sie das Wort „Mitarbeiterbindung“ hören? Gleichwohl ich den Sinn und die positive Absicht durchaus verstanden habe, war mir der Begriff immer suspekt. Die Führungskraft bindet ihre Mitarbeiter! Wie glücklich wären Sie selbst, würde Ihr Chef oder Ihre Chefin Sie an das Unternehmen „binden“? Bei mir stellte sich dabei immer ein solches Bild ein:


Bernd Oliver BUEHLERBernd Oliver BUEHLERSeptember 14, 2018
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8min4550

Le 15e arrondissement de Paris est situé sur la rive gauche de la Seine, dans le sud-ouest de la ville. La rue Mademoiselle est une rue au sein du quartier. Elle part de la rue des Entrepreneurs, en face de l’église Saint-Jean-Baptiste de Grenelle, et aboutit à l’intersection de la rue Cambronne et de la rue Lecourbe. Louise Marie Thérèse d’Artois (1819-1864), fille du duc de Berry et duchesse de Parme, participé à la pose de la première pierre de l’église Saint-Jean-Baptiste de Grenelle, le 2 septembre 1871. La rue est nommée en son référence.

C’est dans cet endroit que se cache un merveilleux hôtel 4 étoiles, nommmé “Les Jardins des Mademoiselle.

Et c’est un vrai jardin secret tout juste à 1,6 km de la Tour Eiffel.

L’Hôtel dispose d’une très bonne adresse pour partir à la conquête de Paris, ce site étant desservi par les stations de métro Commerce et Félix Faure.

L’hôtel viens d’être inauguré en juin 2018. Il est construit autour d’un splendide jardin et décoré selon les sensibilités botaniques francaises, mais aussi orientales et japonaises.

Les chambres sont remarquablement bien amenagé. L’ensemble a été concu avec amour du métier et de l’expérience est un témoignage du bon gôut de ses propriétaires qui donnent une attention pariculière pour les détails.

Que vous soyez des cadres en mission, des touristes voulant découvrir Paris, des couples amoureux ou les trois à la fois cet hôtel est fait pour vous.

Lors de votre séjour vous profiterez à partir des chambres d’une vue relaxante sur le jardin.

Chaque chambre est munie de la climatisation et d’une salle de bains privative.

Remarquable est également la section SPA de la maison. Elle comporte une superbe piscine,

un Hamam,

une salle de Sport

et un centre de bien-être. 

La maison dispose d’une réception ouverte 24h/24 et assure un service de concierge aceuillant.

Lors de votre séjour, vous pourrez savourer un petit-déjeuner buffet……

ou prendre un verre sur la terasse de l’hôtel qui offre un regard somptueux sur les toits de Paris.

Le concept de l’hotel est à la fois originale, simple et efficace. Les propriétaires combinent le luxe d’un vrai hotel quatres étoiles avec une qualité de service et d’accueill d’un hotel cing étoiles. Les prestations sont vendue avec charme, chaleur et sourire au juste prix.

Et les clients le récompensent. 9,1 sur 10 sur le portail Booking.com, 4,8 sur 5 sur Expedia.fr, 9,4 sur hotels.com sont des notes de clients largement témoignent largement d’un concept réussi.


Meissa LOMeissa LOAugust 14, 2018
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7min3830

Le continent africain attire beaucoup d’investissement étrangers ces dernières années. Etant le continent qui a été moins impacté par la crise de 2008, l’Afrique ne cesse de séduire les investisseurs étrangers qui s’y implantent de plus en plus et venus d’horizons divers (Chine, Russie, Amérique etc.) et les secteurs les plus convoités sont ceux de la technologie, de l’industrie et de l’énergie. Cette force d’attraction n’est pas seulement le fait des richesses que regorge ce continent, mais surtout le fait que plusieurs réformes ont été entreprises par les différents états émergents comme ceux en voie de développement telles que : la révision du code des investissements, la gestion économique et financière prudente des gouvernements, l’harmonisation de la réglementation régionale, les efforts pour combler le déficit en infrastructures et en énergie dans le but d’attirer au maximum les investissements étrangers. Cette tendance s’est reflétée aussi dans le climat des marchés financiers et le nombre des IPO (introduction en bourse) pour le développement ou la croissance d’une entreprise. Au moment où les banques et autres services financiers (microfinance) du continent daignent à répondre aux demandes des entreprises pour leur besoin en financement, une tendance à se faire coter dans les places boursières africaines a été observées depuis 2010. Il est clair qu’il ne s’agit nullement d’un délaissement des financements bancaires au profit d’une levée de fonds dans un marché financier, mais plutôt pour certaines entreprises c’est une tentative de diversification des moyens de financement. Cependant les banques comme les marchés financiers ont les mêmes difficultés à savoir avoir suffisamment de liquidité pour répondre aux demandes de ces entreprises. Il est important de noter que selon un rapport du cabinet américain McKinsey, le nombre d’Africains qui ont un compte bancaire est passé de 170 millions à environ 300 millions entre 2012 et 2017, donc le nombre a triplé en 5 années.

La part importante des services bancaires, la faiblesse de l’épargne investie dans les bourses et le défaut de liquidité la normalisation des marchés financiers doivent faire l’objet d’analyse approfondie par les acteurs financiers de ces régions, puisse que cela constitue une contrainte pour les entreprises et autres agents en besoin de financement.

Plusieurs analystes de la revue d’économie financière ont montré que les entreprises doivent bien étudier leur introduction dans ces places boursières pour éviter un échec prématuré dès les premiers moments de la cotation, car il est aisé de noter que certaines conditions ne sont pas adéquates aux grandes entreprises qui sont dans des secteurs où le besoin en financement est grand ( énergie, technologie, pharmaceutique etc. ), mais cela ne veut pas dire qu’une cotation ne doit pas être envisagée sur aucune place boursière africaine, au contraire la bourse de Johannesburg semble réunir les conditions nécessaires pour une bonne cotation des entreprises et leur assurer un développement. Bien que le climat politique dés fois instable dans cette zone peut aussi être un bémol lors d’un projet de cotation pour lever des fonds.

Une introduction en bourse est faite par une entreprise dans le but de chercher un financement ailleurs que chez les banques. Cette alternative est utilisée car l’entreprise est sûre de la capacité de financement du service vers lequel il s’oriente. Alors, lorsque les marchés financiers africains présentent un défaut de liquidité, cela peut être vu comme la première cause de dissuasion. Ainsi, à mon avis, la campagne de rendre liquide les places boursières doit impliquer tant les acteurs du marché que l’Etat, étant donné que pour ce dernier la liquidité des marchés financiers lui est favorable dans le sens où cela lui permettra de lancer des emprunts obligataires et de financer ses grands projets publics. Les réalités culturelles du continent montrent que des personnes préfèrent garder leur argent dans leur maison ou participer à des banques traditionnelles appelées « Tontines », qui est une convention intervenant entre plusieurs personnes mettant des biens ou des capitaux en commun avec cette particularité que les sommes versées, leurs produits ou les biens meubles ou immeubles seront achetés à l’aide du capital et cela au bénéfice de tout un chacun, donc à tour de rôle.

Pour pouvoir mettre la main sur ce grenier ou épargne populaire, les marchés financiers doivent mener des campagnes de communication comme le font les banques de détails, ce que nous ne voyons pas souvent dans ces pays. Car la plupart des personnes méconnaissent l’existence des bourses. Pour attirer cette épargne du « secteur informel » il faut donc passer par une éducation financière intensive qui est une piste vers l’inclusion financière.
A cela s’ajoute un développement de la confiance, puisse que certains banquiers seraient vus par des africains comme des « voleurs » ce qui fait qu’ils n’ont pas confiance aux services qu’ils proposent.

Par contre, ces pistes de solutions ne sont de loin exhaustives car comme l’ont souligné certains analystes, il y a véritablement une complexité et d’innombrables obstacles non encore pris en compte pour la création des conditions favorables à la cotation des entreprises sur ces places boursières africaines et pour la prise en charge des recherches de liquidités des entreprises et des Etats.


Meissa LOMeissa LOAugust 14, 2018
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12min3650

Résumé : Dans cet article, je montre l’utilité de diversifier les sources de financement dans une entreprise basée dans les pays émergents. Cette diversification stratégique peut contribuer à booster les marchés financiers dans ces états et zones où la bourse est très peu développée. L’article traite également de la corrélation qui exister entre un initial public offering (IPO) et le poids de certaines places boursières.

Le financement dans une entreprise comme dans un Etat se fait par deux modes, soit par des fonds internes à l’entité ou externes à celle-ci. La mondialisation a facilité depuis la deuxième moitié du XXe siècle, le mouvement des flux financiers, ayant comme conséquence, un choix de mode de financement des Etats et des grandes entreprises du monde orienté vers la dette [le financement par l’extérieur (banque, place boursière, fonds commun de placement)]. IL est évident que les raisons d’un recours à un financement externe pour les entreprises sont différentes de celles des Etats. Mais, l’intervention sur les places boursières est le premier choix des acteurs cités plus haut. Au niveau des Etats, par exemple, c’est le moyen le plus souvent utilisé par les pays développés (ou émergents), lorsqu’ils veulent financer de grands projets. Il s’agit d’un espace financier qui voit intervenir différents acteurs (Etats, grandes entreprises, fonds d’investissement etc.) et qui est souvent organisé de façon fonctionnelle (le marché de capitaux compartimenté par un marché monétaire et un marché des changes, marché boursier lui-même divisé entre celui des actions de sociétés et celui des obligations publiques et privées, etc.), temporelle (les marchés fonctionnent aujourd’hui 24h/24 et de plus en plus en temps réel), et enfin géographique (Europe , Amérique , Asie , Afrique).

Par ailleurs, on note une réelle corrélation entre le poids de ces places financières, et celui des différentes zones du monde où elles se situent. Le classement suivant des plus grandes places boursières du monde montre l’absence de l’Afrique ou de ses Entreprises (New York avec 19 223 milliards de dollars, Nasdaq 6 831 milliards de dollars, London Stock Exchange 6187 milliards de dollars, Tokyo 4 485 milliards de dollars, Shanghai 3 986 milliards de dollars, Hong Kong 3 325 milliards de dollars, Euronext avec 3 321 milliards de dollars). IL est aisé de constater ici, l’important des transactions financières qui s’opèrent dans les marchés et entre eux, se passe en Amérique du nord, Europe, et Asie, autrement dit entre les pays développés appelés super puissances. Ces places boursières enregistrent d’importantes capitalisation comme nous pouvons le constater et donc une capacité de financement assez importante pouvant attirer toute entreprise qui est dans un état de besoin de financement et qui compte faire recours à d’autres types de financement autre que l’endettement bancaire.

Pourtant, le continent Africain compte une vingtaine de place boursière avec près de 2 000 entreprises cotées, avec des ressources incommensurables (gaz, pétrole, diamant, blé, or etc.) échangées un peu partout dans le monde et donc une capitalisation boursière africaine qui n’est que d’environ 2% de la capitalisation mondiale, en 2014 le continent Africain présente aussi avec l’Asie Pacifique, des taux de croissance plus importants qu’en Europe ou aux USA.

Dans ces places financières africaines, on peut y retrouver quelques filiales de multinationales telles que Danone, Unilever, Total, Société Générale, China State Construction and Engineering Corporation (société chinoise de BTP), Bouygues, Exxon Mobil, Chevron, Shell, Randgold Ressources, Air liquide etc.

Des études ont permis de noter qu’un grand nombre de sociétés de gestion d’actifs investissent dans des sociétés africaines à potentiel rendement, ainsi qu’un nombre important de fonds communs de placement ont été créés notamment par KKR, Franklin Templeton, Nordea Investment Funds S.A, LFPI Asset Management, JPMorgan Asset Management ou Swiss & Global Asset Management

Mais aussi, la Chine, qui depuis un certain temps est vu comme désormais la première puissance économique, est implantée en Afrique. Son importante croissance a poussé les investisseurs chinois à trouver d’autres relais de croissance, ce qui expliquerait le choix de l’Afrique et les investissements dans le secteur des matières premières (agriculture, pétrole, mines) ce qui leur a permis d’avoir un positionnement stratégique, et par conséquent, ils apportent de remarquables flux de capitaux en Afrique. Et aujourd’hui ce pays est présenté comme le premier investisseur en Afrique. Qu’est ce qui expliquerait alors cette difficulté des bourses africaines à s’imposer par rapport aux autres ? S’agit-il d’un problème d’organisation des marchés financiers ? La cause serait-elle liée à une faible introduction en bourse des entreprises africaines ? Si oui, les conditions favorables à une importante introduction en bourse existent elles dans ces places boursières africaines ? Ces questions nous amènent à faire une étude sur les conditions posées par les bourses jugées aujourd’hui dynamique et qui facilitent aux entreprises une introduction réussie sur les places boursières. L’enjeu principal des entreprises nationales comme internationales est dans la recherche de financement. Les banques ont été pendant longtemps le seul interlocuteur des entreprises, exigeant des états financiers solides. L’entreprise dans ce cas a le choix et peut s’autofinancer sans avoir recours à des sources de financement externes. Ainsi, une source alternative de financement vit le jour afin de diminuer le pouvoir de négociation des intermédiaires financiers : il s’agit là des marchés financiers par appel public à l’épargne. Elle se définit selon le code monétaire et financier par les opérations suivantes :

  • L’admission d’un instrument financier aux négociations sur un marché réglementé ;

  • L’émission ou la cession d’instruments financiers dans le public

Pour avoir accès à ces marchés des capitaux, l’entreprise est tenue de réaliser une introduction en bourse. L’IPO (en anglais) qui consiste à placer sur le marché financier les titres de l’entreprise. Si les titres sont créés pour l’occasion, on parle d’une introduction en bourse par augmentation de capital. Et lorsque aucun nouveau titre n’est créé, on parle dans ce cas d’introduction en bourse par cession de titres.

De ce fait, l’organisation et la normalisation des marchés financiers se présentent comme les bases d’un marché efficient qui enregistre d’importants IPO. Cependant, nous pouvons noter que les conditions d’introduction en bourse nécessitent une amélioration ou réforme afin de permettre aux différentes entreprises locales comme internationales d’y être coter. Ce processus de formalisation et d’amélioration des conditions d’introduction en bourse pourraient être les facteurs clés de succès d’un marché efficient, dynamique précisément pour les places boursières africaines pas encore mature et qui sont sur la voie de l’émergence.

Références :

  1. PAOLA GRANATA, KATIE KIBUUKA et YIRA MASCARÓ : le coût du financement en Afrique : quelles politiques publiques pour réduire son coût et renforcer l’inclusion financière ?
    La finance africaine en pleine mutation, 2014/4 (N° 116), Pages 121 – 150.
    Editeur : Association d’Economie Financière
    Collection : Revue de l’Association d’Economie Financière
    ISBN : 978-2-916920-73-3
    368 pages – Parution : 01/2015#
  2. LUC RIGOUZZO : les fonds d’investissement : une source essentielle de capitaux à long terme pour les entreprises africaines
    La finance africaine en pleine mutation, 2014/4 Volume N° 116,
    Pages 213 – 228. Editeur : Association d’Economie Financière
    Collection : Revue de l’Association d’Economie Financière
    ISBN : 978-2-916920-73-3
    368 pages – Parution : 01/2015
    http://www.lemoci.com
    http://www.imf.org
    https://www.banque-france.fr

    Accueil


    http://banquemondiale.com
    https://www.african-markets.com/fr/bourse/jse


Florent BOUILLYFlorent BOUILLYJuly 28, 2018
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11min9020

Lean managements technics are very efficient tools used to increase productivity and processes in several sectors such as automotive. Indeed, automotive companies are using lean management technics for several years and a well-known pioneer of these technics is Toyota. The founder of lean approach was, Taiichi Ohno, an executive member of Toyota during the 50’s. He wanted to focus on production processes, wastes, value streams and the Kaizen to improve Toyota’s efficiency and be more competitive on the automotive market.

This is the reason why, today, Lean manufacturing is often called “Toyota Production System” and this model is analysed by many companies in order to improve their activities.

In 50 years, Toyota became leader of a highly competitive market being in average 4 times more productive and 2 times more profitable than other competitors. These results are mainly due to Lean management and the way Toyota is organized, consequently we will look at how can we implement this model in financial services in order to reduce wastes and produce a more profitable and qualitative service.

Indeed, financial services are following very strict procedures mainly because of legal requirements and these procedures can be improve using lean management technics. As we discussed in the introduction, effects of lean has been demonstrated in the automotive sector which is organised by a succession of stages aiming to produce a final product.

The way Financial services are operating today, using sets of procedures explaining steps by steps what to do to accomplish a specific task, lead us to the conclusion that lean management technics used in manufacturing industry can be adapted to financial activities.

Knowing that lean management can be adapted to financial company, the most difficult point is now to look at how can these technics be implemented.

5 steps to Implement a lean strategy:

A first step that company usually follow is to choose one or several pilot sites where they will test and generate their news technics and ideas on current practices. This step should last 1 or 2 years in order to analyse effects of this new organisation on company’s activities and observe points that need to be improved.

Step 1: Define a target:

Define several objectives corresponding to key deadlines which could be represented in term of value, time, customer satisfaction or any kind of measurable data.

Step 2: Map

This step is important because we will define every action needed to create value in the activity such as the different step of a car production. We will create a map or a timeline going form the current state to the future state. This timeline or map is commonly called “value stream”. Then we will identify and categorize waste in the Current State, and eliminate them. This step will end up with a process where only “useful” steps are present.

Step 3: Flow

We will organise the value stream as a flow of step that we perform one after another. Then we will turn the flow to a product or service-focussed organization in order to put the service’s quality and performance as main point in the company. This will directly impact the production’s duration or services performance.

Step 4: Pull

This steps is mainly use for production of finished good as we will let the customer pull products as needed and so eliminate the need for sales forecast. In a services industry, such as finance, we will highlight which steps are needed by customers and focus on these ones. Consequently, it will remain only useful task and services in the company’s process as both customers and organisations will express what do they expect from each other.

Step 5: Perfection

This steps is not the end of lean implementation process because we can always improve a service or a production. We will restart at step 1 and go through every step again and again in order to keep only essential parts of the value stream.

What impact can we expect on Financial activities?

We can often hear people saying that lean management is only efficient in manufacturing activities because they are producing the same kind of product several times over long periods and that we can easily standardize this flow of production.

When we talk about implementing lean in industry of services, main part of people say that lean management is not applicable because tasks are too complicated.

When we step back and reflect about it, we observe that services are composed of long processes which could be sometimes more complex than those of manufacturing industries because they need to be specific to each client. The important thing to notice is that as long as we have processes to improve, lean management will be useful for the company. Hence, having processes in the financial industry makes the lean management implementable.

A difficult point will be now to convince people to get involve in a such organisation as lean strategy usually takes place on the long term and result are difficult to see on the sort term.

Many people will ask you the following questions: “Does this strategy will positively impact the financial turnover of the company? Will we see a real improvement on a financial point of view?”

A simple answer to this question is to make a quick exercise.

Find two teams having similar missions such as entering consumer transaction. We will give to each member post-it and ask them to detail how they process step by step to accomplish the task. This will create a map of the employee activity and way of working. At the end, we will put on a wall every map coming from each employee and will see which step are the most listed. This will give us the most important part to keep in the process and we will be able to look at the remaining others and see if it is possible to remove them.

After this exercise, we can now prove that on a middle to long term strategy, after some change in team’s organizations, the company will be able to perform a quicker and more qualitative service to its customer. The financial result of this strategy will be the reduction of costs, (less time to perform a task) and also an increase of the company’s turnover because employees will be able to perform more tasks in a same period of time compare than before thanks to this new organisation.

Lean is about standardizing processes to make problems visible and developing your employees’ critical thinking ability so that they can solve those problems and improve work processes. In these conditions, financial industry can take advantage of these methods and it’s sure that some of them have already started to use them in their daily activities.

Florent BOUILLY

References:

http://leleanmanufacturing.com/histoire-du-lean/

https://www.institut-lean-france.fr/lean-management-resultats-incomparables/

https://www.lean.org/WhoWeAre/LEINewsStory.cfm?NewsArticleId=17

http://www.industryweek.com/blog/lean-even-more-important-services-manufacturing



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