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Leadership an Enigma
In
today's business environment, the discipline
of leadership is often an enigma. Companies
and individuals find themselves constantly
trying to come to grips with the changes
that have been thrust upon them usually
to find that the situation has taken a different
trajectory from what was previously expected.
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Mr.
Jack Welch, Former CEO of General Electric
at the 2004 Leaders in Dubai Conference
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That
change can take days, but often enough, it may
be as little as a few hours or even minutes in
many highly competitive sectors.
Facing this ongoing predicament from a management
perspective becomes a daunting task. In much of
the world, dealing with such problems has caused
many traditional structures that once held sway
in the marketplace to go by the wayside as new
forms are developed or adapted through processes
of learning and adoption. Has the Muslim World
adopted such processes?
Global
gurus meet in Dubai
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The
answer to that question was provided in
part when on November 29-30, 2004, the Dubai
International Convention Centre was the
site of a veritable phenomenon when it comes
to business and business thought in the
Gulf and Arab world. The occasion of the
recent Leaders in Dubai conference was a
new high point for the burgeoning culture
of international business making a place
for itself in the Arab world.
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An
Agenda For The
Regions Business Leaders:
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Leverage
Technology
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Invest
in People & Ideas |
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Evolve
Family-owned Businesses |
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Practice
Good Corporate Governance |
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Leverage
the Women Workforce |
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Grow
Private Sector |
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In essence, the conference spelled a new start
for the business culture in the region. The conference,
which reportedly hosted close to 2,500 delegates,
was said to be the biggest business related event
to be held in the region since the annual meetings
of the World Bank and IMF in September 2004.
Voices
from within the region and from without were included
indicating a recognition of responsibility on
the part of indigenous business leaders and policy
makers as well as the need to take opportunities
to learn from any and all who have made a mark
as leaders in their respective fields.
The
event's lineup included a who's who of international
business leaders, academics, and former government
officials as well as up and coming talent from
the region. This included Rudy Giuliani, the former
Mayor of New York, and Jack Welch, the former
CEO of General Electric. In addition, Michael
Porter, of Harvard Business School, and Lester
Thurow, of the Massachusetts Institute of Technology
represented the academic world. Tom Peters, Alvin
Toffler, and Frank Maguire as well as Mohamed
Alabbar, and other leaders from Arabia - from
business and semi-government sectors - also participated
in sessions.
The
topics being discussed during the conference included
the challenges of globalization, ungovernable
situations, leadership through crises, corporate
bureaucracies, competitive market positioning,
the global order, the development of human capital,
as well as predictions on the future of knowledge
economies worldwide in the 21st century.
Voices
cite key challenges
Even
before the conference began, a number of participants
released detailed statements about their positions.
Michael
Porter cited a reliance on high-energy prices
for the lack of private sector development in
the Middle East. Because of a reliance on energy
revenues, productivity growth in the region lags
behind all other world regions. Lester Thurow
stressed comparative advantage can only be built
in today's business environment by investing in
people and ideas. Natural resources and capital
would not provide competitive edges.
There
were many key events among the two-day soirée
which included opening remarks from the head of
the Young Arab Leaders Association, a debate between
His Excellency Mohamed Alabbar and Rudolph Giuliani,
a presentation by Jack Welch via satellite, as
well as a discussion of challenges to family-owned
businesses by Abdulla Al-Zamil.
Mohammed
Al-Gergawi is chief executive officer of Dubai
Holding and chairman of the Young Arab Leaders
(YAL) executive board. YAL was formed at the 2004
meetings of the World Economic Forum at Davos.
Its stated mandate is the development of an indigenous
leadership potential for tomorrow. He delivered
the conference's opening address in which he acknowledged
that the Middle East as a whole has entered tough
times. He went of to say that there are new challenges
and new opportunities despite the hardships. He
recognized and praised the history of the Middle
East as an innovative region driven by commerce
and trade opportunities. Al-Gergawi singled out
public private-partnerships as an area of potential
growth but also stressed that Vision and inspired
leadership have become critical factors in these
fast-changing times. Al-Gergawi's remarks are
symbolic in that his is a personal struggle to
empower and inspire leaders for tomorrow.
Another
key point in the conference was the presentation
of Abdulla Al-Zamil, chief operating officer of
Zamil Industrial Investment Company (ZIIC), who
emphasized the need for family-owned businesses
in the Arab world to adopt transparent systems
and to be held accountable to their partners and
shareholders. These were the prerequisites for
success in the global economy. He recognized the
pre-eminence of many family-owned enterprises
but stressed that it is essential for such organizations
to conform to the new ways in which business operates
in the new world. Leadership and effective corporate
governance were key in this regard to compete
effectively on an international scale. He spoke
of a fusion between the modern and the
traditional to meet these challenges. The topic
of family businesses in Arabia was also discussed
by management guru Tom Peters who urged the heads
of family businesses to know when to pass the
business on to the next generation.
In
his comments via satellite, Jack Welch hailed
Dubai as a role model for the Middle East citing
its diversified economy and ability to differentiate
business from politics. He also emphasized people
as the most important part of company operations.
Fadi
Ghandour, CEO of Aramex, made calls for accountability,
increased transparency in the govt. sector, and
stressed the creation of "cultures of trust" in
both public and private institutions.
A
promising beginning
The
warm reception given to the Leaders in Dubai conference
is a sure sign of hope for a promising future.
It is a sign that Middle Eastern business leaders
are looking to learn from other leaders. More
importantly, it is a sign that business leaders
are adopting a proactive approach for business
development in the region.
Given
Dinar Standard's goal of highlighting region
challenges and opportunities for business growth,
we look forward to other such events and the creation
of a general culture of pursuing novel opportunities
and openness to ideas.
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