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NEWS
UCT GSB teaching case study wins top international award
UCT GSB teaching case study wins top international award

GIBS Executive MBA ranked in top 60 of QS ranking
GIBS Executive MBA ranked in top 60 of QS ranking

What USB is doing to ensure teaching and learning continues
What USB is doing to ensure teaching and learning continues

Values-based leadership in the age of COVID-19
Values-based leadership in the age of COVID-19

Workplace bullying and sick leave during COVID-19
Workplace bullying and sick leave during COVID-19

Maurice Radebe appointed as head of Wits Business School
Maurice Radebe appointed as head of Wits Business School

If there was ever a time for reflection it is now
If there was ever a time for reflection it is now

Just a little kindness
Just a little kindness

UCT GSB Executive MBA ranked in global top 50 ranking
UCT GSB Executive MBA ranked in global top 50 ranking

IMF loan goes wider than just helping to balance the budget
IMF loan goes wider than just helping to balance the budget

What companies should do to manage employee well-being
What companies should do to manage employee well-being

How great ideas are born
How great ideas are born

Will COVID-19 change the classroom?
Will COVID-19 change the classroom?

SA needs leaders with a desire to help others
SA needs leaders with a desire to help others

SA higher education doesn’t work
SA higher education doesn’t work

GIBS appoints Andile Sangqu as executive in residence
GIBS appoints Andile Sangqu as executive in residence

When the ground shifts, it pays to be agile
When the ground shifts, it pays to be agile

Should entrepreneurs wait out the pandemic or forge ahead?
Should entrepreneurs wait out the pandemic or forge ahead?

Right-sizing: the dilemma for business under pressure
Right-sizing: the dilemma for business under pressure

What do we learn from pressure?
What do we learn from pressure?

How to spot when an employee is secretly struggling
How to spot when an employee is secretly struggling

Wake up to the new workplace revolution
Wake up to the new workplace revolution

Moleli’s taking it to the next level
Moleli’s taking it to the next level

How startups can drive growth in a disrupted world
How startups can drive growth in a disrupted world

How do we change norms as we rebuild post Covid-19?
How do we change norms as we rebuild post Covid-19?

Leadership’s toughest test
Leadership’s toughest test

SA is paying dearly for yesterday’s mistakes
SA is paying dearly for yesterday’s mistakes

MBA applications break all records for Henley
MBA applications break all records for Henley

The regulatory environment can stop innovation in Africa
The regulatory environment can stop innovation in Africa

Embracing the unknown can make you a better leader
Embracing the unknown can make you a better leader

Planning for the post-COVID-19 workforce: Four scenarios
Planning for the post-COVID-19 workforce: Four scenarios

3 ways to be happier... even in the middle of a pandemic
3 ways to be happier... even in the middle of a pandemic

GIBS/TWIMS MBA Manufacturing Ambassador Scholarship
GIBS/TWIMS MBA Manufacturing Ambassador Scholarship

New MBA timetable starts in 2016
New MBA timetable starts in 2016

EVENTS
UCT GSB MBA Info Session Webinar
UCT GSB MBA Info Session Webinar
11 August 2020,
ALL CITIES IN SOUTH AFRICA

THE International MBA - InfoBytes
THE International MBA - InfoBytes
27 August 2020,
ALL CITIES IN SOUTH AFRICA



02 OCTOBER 2019
Economic recovery or low-growth trap for SA?
Just as it could no longer be 'business as usual' for the private sector if SA wanted inclusive growth and transformation, neither could it be 'policy as usual' for the government, if goal was for the SA economy to break out of its current 'low growth trap' of less than 1% this year, said Professor Raymond Parsons, of the NWU Business School, in his lecture on 'Economic Recovery or a Low-Growth Trap for SA?'. He said that, although after nearly a decade of economic deterioration and weak governance, in the wake of recent political changes SA had announced or implemented several important remedial measures, the jury was still out on whether enough of the right things have been done to strongly turn the economy around.

He said that positive steps had, for example, indeed been recently taken to probe and curb corrupt practices. "But it does not mean that those who are actively seized with tackling state capture and corruption are necessarily in favour of essential pro-growth reform policies and projects", he added. He felt that there needed to be more evidence of market-friendly changes to strengthen the economy, as well as to keep SA's public finances under better control and avoid a 'debt trap'.

Professor Parsons said that the ambitious but necessary official goals such as generating $1 billion worth of new investment and dramatically facilitating the ease of doing business in SA within the next few years required maximum cooperation between the public and private sectors if they were to be achieved. Investor and business confidence needed to be boosted. This would continue to require that policy uncertainty is reduced and renewed trust be built with the business community.

For this to happen needs government to firmly 'stay on message' regarding pro-growth reforms and to take the tough decisions involved in several of them, said Professor Parsons. There was still too much perceived policy ambivalence in SA.The handling of key matters such as the financing and future of major SOEs like Eskom, the recent controversy around the role of the Reserve Bank, the lack of clarity around land reform, clear costing of the proposed NHI, political factionalism within the governing ANC and other similiar factors had unfortunately kept policy uncertainty at elevated levels, he said.

Professor Parsons emphasised that business therefore still needed to take every opportunity, whether through its various organised business lobbies, or such as at the planned first anniversary in November 2019 of last year's investment summit, to hold government to account by critically reviewing to what extent pledges and promises of new pro-growth reform policies were indeed being realised. He believed that the official reaffirmation of commitment to the National Development Plan could still be a rallying point for 'unfinished business' on the national agenda, as well as to generally promote more policy consensus about growth and transformation.

Both business and government thus needed to find themselves on the same page as to future policy direction in the post-Zuma era, he said. The challenge of creating a bigger, stronger and better economy in SA remained a collaborative venture. "Business must decide whether it is part of the problem, or wants to be part of the solution", concluded Professor Parsons.
Source:

NWU Business School
At the NWU Business School, we strive to change the way our students think about business. We want our students to become managers/leaders in their own right. Visit our InfoCentre or website.

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