The perfect fumble
Well-Known Member
- Joined
- 3 Jun 2012
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- 24,465
I think the thing is, in the Middle East, so much of everything is based on trust. Lines between family, business, personal matters are so blurred to western eyes. It's just part of the culture, and not just at the level of royal families, also at the level of shopkeepers and artists. Everyone.
So when a westerner sees a relationship between parties to a deal, and thinks it's suspicious because the default mode is that everyone is out for a quick buck, Emiratis see a business opportunity on a long-term basis built on trust.
The Etihad deal was a good example. A deal based on the trust between City and Etihad executives. City wouldn't be overcharging Etihad and would deliver what was promised and Etihad would be a loyal long-term partner. Hasn't worked out too bad, but the western response was: what was the losing bid? There wasn't one because there didn't need to be. Trust.
Another example was the joker we originally had representing City. He was embarrassing City, Mansour and Abu Dhabi, so by definition, he was embarrassing family. Mansour changed him and brought in, presumably with the support of, or at the suggestion of his half-brother, two of the most respected business people in AD. Family.
Final example. The number of sponsorships that are linked at business executive level. Big deal according to the Athletic and Gary Neville. Perfectly normal to develop long-term business relationships by integrating personal relationships at executive level, both ways, especially when this is done at Mubadala with such strategic, long-term investments. When a business involvement is required, who else than someone you have a long-term relationship with and whom you trust. Trust and personal relationship.
This misunderstanding of the ME culture is at the heart of the casual racism towards the ME, imo. They don't do it like we do, so they must be up to something. That should change with some education, but I can't see it happening.
It's too bad for our competitors that our management and executives are so well connected. It's too bad they take a long-term view with people they trust. Basically, tough.
Again, open to being corrected if I have anything wrong.
That's a very accurate description of how long term business relationships are established and nurtured in the Middle East. Of course Emirates long standing relationship with Arsenal shows it's not exclusively an in house affair, the UAE is very outward looking, it has to be. But as a rule, long term, respect, trust, these things take precedent over short termism, quick buck, cash cow, here today gone tomorrow capitalism. In my experience Middle Eastern businesses are often initially wary of doing business with Americans, because the latter traits are often associated with them.