Page 2 - KZN BUSINESS SENSE Vol.2 NO.6

King of Ethics

Dominic Collett, take on the guidelines of the King Without regurgitating the students did not cheat – Forbes.
the Chairman of Report to assist in the control documentary, in essence the work
the KwaZulu- and direction of ethical business highlighted that lies start out Therefore, the release of the
Natal Business practices. fairly innocently before starting King IV Report is an important
Chambers Council down a slippery road to larger document that reminds us of
Values of respect, trust and fatal consequences. moral and ethical responsibility KWAZULU-NATAL BUSINESS
honesty echo through many rather than the threat of
ing of boardroom discussions when The more we lie, the more punishment. CHAMBERS COUNCIL :
Ethics! Chairman: Dominic Collett
KThis formulating strategic visions we adapt to accommodate our The King Report also documents Secretariat: Charmaine Nundalall
of organisations. Putting
deception. As to what stops the
month saw these values into action in a lies, however is not the threat the importance of inclusive
the launch world seemingly dominated by of punishment but to remind capitalism calling on business Tel: +27 (0)87 350 6747
of the dishonesty and manipulated people of their moral values. In to work towards closing the Address: 3rd Floor, The Boulevard,
Kings IV agendas appears to be very experiments conducted by Ariely, economic social gap. This 19 Park Lane, Umhlanga Rocks,
Report on difficult. self-professed atheists were not theme currently runs through 4319, KwaZulu-Natal, South Africa
Corporate prone to cheating once they swore many initiatives of government, email: Dominic.Collett@rhdhv.com
The documentary film entitled on the Bible that they would business, labour and civil society.
Governance TM (King IV) by the ‘(Dis) Honesty – The Truth be truthful. When university The hope is that together South Website: www.kznchamber.co.za
King Committee and the Institute about Lies’ inspired by the work students were asked to list the Ten Africa can win this battle.
of Directors in South Africa of behavioural economist, Dan Commandments, even when they
(IODSA). Ariely, explores the human didn’t remember all of them, they It has been a difficult year for I wish everyone a festive and
tendency to be dishonest. business and a great deal of hard happy holiday and a well-deserved
Business, on the whole, should didn’t cheat. After having signed work has been done through 2016. rest. 
honour codes before taking tests

Dating in thE businEss worlD nEw PrEsiDEnt for

Tarryn Kopke, cannot proceed any further ■ Identifying areas where sacci
(CA)SA Manager without firm commitment from representations and warranties
Deal Advisory both sides. are needed to reduce deal risk; Mr Zeph Ndlovu Forum Chairperson, to Durban
■
Understanding how the targets’
elected President of
A s relationship, one would generally forecast stacks up against the South African Chamber Council member,
At this point in a normal
Durban Chamber Board member
historical actual performance;
Chamber of
face one of the most daunting
and lately as President. Zeph
and
Industry (SACCI)
individuals, challenges of dating – meeting the ■ Enhancing deal value through Commerce and acknowledged the Chamber
family. All investment made prior
as a member organisation that
the process to this moment may have been in the identification of synergies exists to support the business
of finding a vain should you fail to impress at not previously identified. n community.
life partner this stage or should any red flags “But we can do all of this O 19
can be a be identified. Zeph has 27 years of
daunting in-house you may say.” Well management and executive
one. There In the business world, yes, you can. However, after the October management experience in
are over 7 billion people on earth performing a due diligence is courtship process, do you really 2016 at the
and you are expected to find one essentially the equivalent of taking want to? Targets generally do SACCI diverse business sectors. He is
person with whom to build a a potential partner to meet your not like due diligences, they are Annual currently the general manager
future. The investment required family for the first time. Who time consuming for the target Convention of Transnet Port Terminals. He
to find and ‘secure’ this one could be a better judge of your and one of their purposes is the Mr Zeph has both local and international
person may seem insurmountable; potential partner than someone identification of things that are Ndlovu was elected as the business experience having been
wrong in the target’s business.
hours of grooming, endless small who is completely independent President of the South African seconded to business exchange
talk, feigning interest in sports/ of the relationship you have just Months of close courtship spent Chamber of Commerce and programmes in UK, Brazil,
activities of which you have built, yet firmly in your corner developing the deal and your Industry. Mr Ndlovu takes over Germany, France and Belgium.
no prior knowledge, expensive with your best interests in mind. relationship with the target may the reins from Mr Vusi Khumalo In addition, he has oversight
presents, thoughtful presents, the unravel under the pressure of a and will serve a term of two business skills, having served
list goes on. A due diligence should not be due diligence, especially in cases years. in a number of boards and
regarded as a necessary evil, an where problems are identified.
Well, the same applies for expense to be endured. But rather The Durban Chamber councils in communities and
business dating. Searching for an investment in protecting your Using an independent third party is delighted with Zeph’s business.
and finding a business which you capital. A due diligence exercise may just help you to keep a good appointment. We are proud
feel compliments your own is a will assist you in: deal alive or, more importantly, of Zeph for flying the Durban One of the outstanding
assist you in identifying deal
challenging task. Once a target ■ Getting the tough questions Chamber flag high and know strengths in Zeph’s career
company has been identified the answered while still enabling breakers before it is too late, is business turn around
courtship begins; information you to maintain a good working leaving your capital and reputation that he will acquit himself with especially in the midst of a
is shared, relationships are built, relationship with the potential intact.  distinction. #DurbanMustRise.’’ highly competitive business
future plans are determined target; Zeph has been actively involved environment. He has led a
together, letters of intent may even ■ Identifying red flags which tarryn.kopke@kpmg.co.za Tel: (031) 327 6000 in the Chamber movement team of change management
be issued. may be potential deal breakers for the past twelve years, specialists at Nampak Packaging,

But what now? Both parties have or which may enable you to previously being part of the Unilever SA, and Transnet
put their best foot forward up negotiate a better purchase Durban Chamber in different Port Terminals at Durban with
to this stage but the relationship price; roles ranging from Durban Port commendable results. 

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