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Economic Environment

Economic Environment. 2025 Rangan Gupta and Jan van Heerden. The world we live in. We can pause or rewind live TV! Aim I-Phone at star and it is identified for you Wireless internet Cell phone banking/internet

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Economic Environment

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  1. Economic Environment 2025 Rangan Gupta and Jan van Heerden

  2. The world we live in • We can pause or rewind live TV! • Aim I-Phone at star and it is identified for you • Wireless internet • Cell phone banking/internet • In 2000 Grulke said “most people in world would have their first internet experience through a cellphone (car guards)

  3. The well-known economic environment • There is a huge demand for tertiary education from all spheres in society • World recession made most of macroeconomic theory and forecasts suspect • BRIC countries have changed many old paradigms – will probably become BRICS • We live in the internet and information age • Oil from Africa/ carbon emissions • Scarce water and other basic resources • Corrupt African government officials and private entrepreneurs

  4. Wolfgang GrulkeTen lessons from the future • “Forecasting is difficult, especially if it concerns the future” • “Knowledge and information, per se, has no value” (it’s about SKILLS) • “No longer can we afford to seek sanctuary in what we know, or what has gone before”

  5. Wolfgang GrulkeTen lessons from the future • Own up to the growth catalysts and the dynamics of the new global economy • Create the skills for the 21st century economy • Fast track people to become economically relevant – be literate; Speak English; Get wired • Invest radically in education – pay teachers amazing salaries • Remove central control of the education system • Create the telecommunications infrastructure for the information economy

  6. Wolfgang GrulkeTen lessons from the future • Incentivise investment in the right stuff (stop providing incentives for acquisition of industrial age capital goods) • Attract global skills to South Africa • Lower corporate taxes and get rid of PIT • Create an inspirational economic policy!

  7. DaanGouwsDiscussion over coffee • Do not try to extrapolate existing knowledge into the future • Knowledge is freely available – it is not our primary job to add knowledge to the students’ brains • Our job is to deliver “Beyonders” to the world of work (very creative performers) • UP is huge; do not try to change it using current systems – rather think completely new about the future • The author of “Kook en geniet” has passed away…. • What is important is not what we know, but knowledge of what we don’t know

  8. Rangan GuptaNotes sent via email One of the biggest, if not the biggest, concerns in SA is the small skills-base The biggest challenge for universities is to develop the skills base We should hire from the international market Make better use of alumni in setting up bursaries and chair positions Send our students abroad for further study Collaborate with internationally acclaimed researchers SA needs informed leaders and we can produce them

  9. Grulke againLargest companies to come SAB AfricanParks.com NASLearn Anglo/Billiton/De Beers Global African AT&T Future Softwares Inc AfriHealth Care InvestecCitadel Wealthcare African Foods

  10. Conclusion The world is flat and close to us Change is not going to be enough; we need a NEW paradigm We need to deliver persons to the workplace who can convert knowledge into skills – creative leaders who could steer public and private institutions into the future We should use the amazing technology at our disposal and break the lecturer method – replace lecturers with mentors

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