Arab projects have recently confronted myriad dilemmas and crises, where the foreign enterprise has dominated at all levels. In this context, Egyptian businessman Hamada Elsaeed called attention to the prominent aspects of the downfall of Arab projects.
In detail, Hamada Elsaeed stated that imitation or non-study of similar projects is one of the most significant facets of failure. In the recent period, the copy-paste of projects is so apparent when one notices that another has succeeded in a project, and speculates that he will succeed too, without taking into consideration the motives, efforts and planning that contributed to the success of this project.
In addition, Elsaeed pointed to the phenomenon of “extra money of the project’s budget”, as he emphasized that the extra money gives an unpleasant outgrowth of the project when consumed on luxuries such as decoration and embellishment of offices, where corporations move away from the fundamental motives of the success of the project.
In addition, Hamada stressed the need to select the right team for the project; hiring friends and relatives without taking into account their capacities and experiences is a primary reason for the failure of small and medium enterprises.
Elsaeed also pointed to the broad errors at the marketing level, so that a project owner may start a huge project with a weak marketing plan such as promotion on Facebook without being willing to follow a variety of advanced marketing strategies and plans.
In conclusion, Hamada talked about the dilemma of “wrong continuity”, as entrepreneurs insist on continuity despite the emergence of failure, convincing themselves that the situation will improve, forget to focus on some thoughtful plans, and review some small details that they neglected to help themselves to move away from the accumulation of debt that will require them a few years to pay.
