Global management consulting firm PRTM and the Harvard Business School (HBS) Club of the UAE joined forces to highlight the benefits of Middle East innovation at an event attended by more than 80 C-level executives from leading organizations.
Held at the DIFC’s Capital Club on June 20, the event included a discussion led by Jean-Marc Paufique, general manager of Zawya, who highlighted his company’s transformation from a simple web portal to what is today the leading online business intelligence provider on the Middle East and North Africa.
Dr. Anil Khurana, director at PRTM, said: “The Middle East is in the midst of significant change, moving from an economy fueled largely by an abundance of natural resources to a diversified knowledge-based economy with a broad range of industries. The evolving economic and social environment in the region point to an exciting phase of growth and innovation over the next decade, and we all have a significant role to play.”
Goulam Amarsy, president of the HBS Club of the UAE, said: “Both PRTM and the HBS Club of the UAE share a common goal: enabling business leaders to create the next generation of world-class companies. Today, companies cannot compete on the global stage if they don’t innovate. As a global leader in innovation, PRTM was the right partner to help us establish a platform for dialogue, whereby innovators in the region could share experience and knowledge.”
PRTM has more than 30 years of experience in operational strategy and innovation for global organizations. In addition, the firm has a proven track record of working alongside governments and commercial organizations in the UAE and Middle East to develop and implement critical changes to improve innovation management efforts and overall business performance.
Recently, a PRTM survey revealed that the Middle East is making fundamental shifts to become an innovation leader. The survey showed that a majority of Gulf Cooperation Council (GCC) business leaders plan to put a greater emphasis on innovation in the year ahead, and noted a shift from the traditional approach of importing innovation to one that involves developing and nurturing it regionally and locally.
The study also found that the innovation landscape in the region is changing rapidly along two major dimensions: GCC executives are reformulating their innovation goals and, over the next 12 to 18 months, local executives expect to make changes to their strategies in order to pursue their own innovation goals.
“It is an exciting time to be in the Middle East. Innovation and change are happening in many countries in the region, and we can foresee a not-too-distant future where the rest of the world will look at our region for inspiration and innovative ideas,” added Dr. Khurana.