Strategies for Business Growth and Sustainability Explored at Business Breakfast

BY: .

Banking Industry Expert Dr David Schwegmann addressed the business community on strategies that ensure sustainability and growth at a breakfast hosted by the Graduate School of Business and Leadership (GSB & L) in partnership with Nedbank. 

The breakfast was part of the University’s strategic goal of mutual community engagement which is also embedded in the College of Law and Management Studies’ strategic plan.  The event is one of the many activities undertaken by the GSB&L in line with its vision of producing well informed graduates through the involvement of practitioners and experts in business management and leadership fields, thus blending theory with practice. 

Through his talk titled: “Integrated Channels Strategy: The Complexity of Managing The Duality of Revenue Growth and Cost Efficiency”, Schwegmann - the  Managing Executive of Nedbank’s  Retail Branch Network, South Africa -  shared ideas about how business could modify their services to effectively  cater to the needs of their clients.

Through an introspective look into the bank’s performance management approach, financial management and the various strategies adopted to ensure business growth, Schwegmann identified strategies which can be adopted by the business community as whole. 

‘As a business you have to be relevant and distinct to the community you serve that is why at Nedbank we create enduring relationships with our stakeholders and entrepreneurs. This relationship gives us access to their employees which opens up a world of opportunities for us,’ said Schwegmann. 

‘Your business has to be underpinned by sound risk management principles and develop a collaborative culture that is central to the organisation’s effectiveness and innovation. The lessons we have learnt regarding growth and sustainability are valuable to all business communities and those who are involved in business education.’ 

As a UKZN Alumnus who recently graduated with a Doctorate in Business Administration during the University’s Graduation ceremony in April this year, Schwegmann understands the importance of sharing his expertise with students which is why he delivered a lecture on the same topic to MBA students the day before the breakfast.  

In his welcome address at the breakfast, GSB&L’s Dean and Head, Professor Stephen Migiro, said it was important for students to have the ability to translate what they learned from the experts, taking the knowledge from the classroom into the working world. The School was thus looking forward to strengthening its links with business practitioners to give students a realistic view of the business world.  

Deputy Vice-Chancellor and Head of the College, Professor John Mubangizi, highlighted the importance of maintaining and establishing strategic partnerships. He said: ‘The relationship between the GSB&L and business community is of strategic importance in the shaping of business leaders and the formulation of innovative education programmes.’ 

Chief Operations and Financial Officer at the Durban Chamber of Commerce and Industry and MBA holder, Mr Praneel Nundkumar, said the event was insightful and enriching. 

‘The talk provided insight on strategies aspiring businessmen can adopt in their work as well as giving students an opportunity to identify with the business methodologies they have been learning. We are looking forward to more events of this nature in future,’ said Nundkumar. 

 -  Thandiwe Jumo