A real life MBA case study - Dubai World
Friday, December 25, 2009
Pavan Shinde
Global Human Resources Management
GMBA - April'09
The fall of Dubai World
With the Sheikhs of Abu Dhabhi allowing Dubai to slip and Emirates Airlines on the line, one can only guesstimate what the repercussions will be on the GCC. To some extent, I think the property debacle was imminent. Not only because Dubai’s property market has been built on sand and dry oil wells, but also because of the sentiments in the world markets. While Dubai was looking up at the 200 storeys of Burj Dubai (the tallest man-made structure ever built ), the man-made wonders of the Palm Jumeirah and the Dubai Waterfront; the world was looking at Dubai in silent speculation. I think sentiments are like self-fulfilling prophecies; if you think that the market will collapse, it most certainly does! Personally, it’s untimely as it might affect my prospects of finding myself a suitable job opportunity when I graduate in March. Nonetheless, I’m staying optimistic, hoping that sentiments can indeed turn the world around!
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2 comments:
mm.. nice one.. totally agree //sentiments are like self-fulfilling prophecies//
nicely xpressed view
Have to disagree. This was something almost everyone can preditct. The question was not will it collapse but when it will. With Dubai's limited natural resources, it was only a matter of time when thez dig their own grave. One of the key contributors of this downfall is speculating. Bankers speculate a lot inorder to increase their paz which inturn boosts the unwanted egos of the so called sheikhs. Now with the credit crunch, thez tried to take a huge chunk of monez from these investments. That's when the realitz struck for Dubai. A countrz is not build on promises alone, it needs the diligencz and patience of its people, which dubai clearlz lack.
Someone once told me that Dubai is a like a prodigal son who failed to realise that he doesn't have anz more monez to live like in the old dazs.
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