Regional change and the integration of technology continues to play a significant role in driving business decision-making.
The past few months has seen some quite extraordinary business deals forged between major regional and international players, and in some cases, syndicated finance bringing together names like Citibank, HSBC and Standard Chartered. Clear evidence that despite present difficulties, business is here for the longer term.
Today’s business arena is much more responsive to consumer needs, technology has become a business enabler and companies have realized that to remain competitive, they must be capable of servicing a much more discerning and demanding consumer, more so than ever before.
This is the international business arena. The players are better trained, the senior roles demand both breadth and scope of talent as today’s business manager must manage increasingly complex scenarios.
Saudi Arabia has committed to significant development across various industries, including: petrochemicals, transportation, oil and gas, telecommunications and banking. Intra-regional alliances and international joint ventures provide ample evidence that change is taking place.
The concept of the single country, autonomous in activity and in mentality is rapidly waning, and is giving way to the formation of a trading bloc. A series of often closely allied countries sharing people and resources, joined together and connected to the international business community through alliances and joint ventures.
Integration within world markets, liberalization of business activities of foreign organizations, the establishment of economic free zones and infrastructure development are the four main areas undergoing transformation across the region.
The regional work force is cosmopolitan and brings with it, not only choice but also conflict. Successful career planning must take into account many issues, and individuals need to manage factors, many being completely outside their control.
When we plan our careers, we have to take into account many things. The type of company, its ethics — aligned with our own personal values, working relationships with colleagues, is there mental rapport to ensure adequate stimulus? Will there be opportunity for personal and professional growth? Geographic location, amenities, family considerations and of increasing concern — security.
Career development and success is one of the most complex issues to manage, and particularly so in a region that combines manifold combinations of factors that can work for and against the individual.
Markets are rapidly moving, and so the qualities required in people need to be adapted to meet demands of the markets. Human capital is paradoxical because qualities important in one market or industry, may have little value in another — and importantly, its value to an employer is not easy to measure.
Company forms have already started to change, where old traditional pyramid structures are giving way to flatter, leaner models that allow some delegated authority and freedom to make business decisions.
A recent survey published in Arabian Business demonstrated that one of the main contributors to employee dissatisfaction across the region, stems from an inability to use their talents and be allowed to bring this “creativity” to their jobs.
Second-guessing is a big de-motivator and often drives change — people simply move on.
As with anything if we want to be successful, then we must develop a structured approach to career development. One of these components — the career move, demands an approach to market in several forms, that combines different methods.
A report conducted by Taylor Nelson Sofres Intersearch last year, provided evidence that supports the value of networking. It found that over 60 percent of career moves were found through networking, and some 4 percent through newspapers.
While the exact figures vary depending upon region, the indication is quite clear — those who have the best chance of career success, need to take charge of their career and get in front of hiring decision makers. Interesting to note that people tend to spend more time on the Internet which only accounts for about 15 percent success, or through other, less effective methods.
If companies pay career people to have their problems solved, then it makes sense to locate those organizations that have a set of problems that need solving, and this is where the concept of networking must be effectively undertaken. Getting in front of hiring decision makers, and convincing them of the value that you will bring to their business. Think about how effective your efforts to date have been, and ask yourself whether you could have done it better. More on this later!
(Based in Dubai, David Thatcher, [email protected], is managing director of career management firm Bernard Haldane Associates in the Middle East.)
