– by Nkosingiphile Ntshangase
On the 23rd of June 2022, UKZN Extended Learning hosted delegates for the 1st module of the Trade, Investment, Promotion and Economic Development Programme (TIPED), which aims to capacitate individuals interested in contributing to sustainable development through trade. This programme is ideal for those interested in venturing into business and investments locally and internationally. The purpose of the first module is to offer the latest perspective about thought leadership by providing a rigorous learning experience. There is a significant focus on understanding the context and pattern of investments across key regions and sectors and improving the standard of strategic management in leadership to achieve the desired outcome of trade and investment. This module assisted delegates in gaining the skills necessary to be knowledgeable leaders that execute best practices in their relevant industries to ensure economic development and investment success. During this module, key discussion points were formed around lean economic indicators for trade and investment, the economic impact of elements such as COVID-19, tensions between economic giants, and local economic development.
To grow a thriving economy, forming partnerships is essential. Government entities and the private sector have relied on strategic partnerships to conduct business for many years. The idea of a partnership can take many forms, ranging from mutually beneficial business relations to investing in trade to sharing knowledge and ideas. In every business endeavour, finding a partnership agreement that benefits both parties is essential. A central goal of TIPED is to provide a seamless exchange for South Africans in attracting and managing the strategic and sustainable inward investment. This will allow the country to improve its export capacity, and this progress can be measured against strategic plans divulged during this programme.
A partnership agreement should be drafted between entities whose goals and values complement and are aligned. While some companies prioritise profit-making, other firms place a greater emphasis on corporate social responsibility. Business partnerships with companies with differing primary objectives might lead to a clash of values and cause a wedge between them. Such a situation will likely lead to the termination of the partnership.
Almost all cases, businesses aim to achieve their corporate goals and stay relevant over an extended period. Partnerships eliminate the need for companies to operate in isolation. Participating entities will have access to more knowledge, innovation, and expertise. In this way, positive business partnerships make people better, strengthen their weaknesses, and enhance their strengths. Creating an environment that would produce the desired outcome is needed for a leader to succeed in the trade and investment sectors.
Please click here if you want more information about our Trade, Investment, Promotion and Economic Development Programme.
You can also contact us directly for more information about this programme:
T: +27 31 260 1234