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Presented to UAE goevernment audience about what and how the UAE can do to transform themselves as a global and competitive player in the knowledge economy

Presented to UAE goevernment audience about what and how the UAE can do to transform themselves as a global and competitive player in the knowledge economy

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  • Applies to corporations & government context, corporate leaders & government leaders Financial Time Stock Xchange recently upgraded UAE stock markets from “Frontier” to “Emerging”; Morgan Stanley Capital International announced that UAE and Qatar may potentially be reclassified in 2011
  • “ Knowledgeable and Innovative Emiratis” Balance of 1) good and safe union, 2) knowledgeable & innovation, 3) Cohesive society, 4) BONDED by its IDENTITY, 5) Highest standard of living, 6) Nurturing and SUSTAINABLE
  • If you always do what you always did, you’ll always get what you always got
  • About 40% of execs spend time looking outward; Of that 40%, 30% is spent peering 3,4 or 5 years in the future; Of that time no more than 20% is spent attempting to build a collective view of the future; Thus, on average, senior execs/leaders is devoting < 3% (40%x30%x20% = 2.4%) of its energy building a corporate perspective on the future; Think of Covey’s Urgent vs Important as the Urgent drives out the Important and the future goes largely unexploited and the focus is on firefightinng/urgent vs thinking and imagining
  • Refer back to the vision 2021 If the purpose of business is to create a customer…..how can we make this happen?
  • Motivate WHO?
  • The SIMPLICITY of SWOT (SWOT for the UAE?) Drucker: 1) how is your competitive environment changing in terms of customer needs and demands? 2) describe your competitive environment (largest, lowest-cost, highest quality, technological leader, fastest growing, etc.); 3) your Intent/Mission? And are the aligned to the future, 4) Your DISTINCTIVE CAPABILITIES? 5) What VALUES characterize who you are? WELCH: a) What does your global competitive environment look like? b) What have your competitors done lately or over last 2 years? C) What have YOU done to them? D) How might they attack you in the future? E) Your plans to leapfrog them? GOOGLE: 70% on core business/your job; 20% related to projects adjacent to the business; 10% unrelated to the business (wacky ideas, disruptive technologies, etc. DRUCKER: “Change in society has a deeper impact on companies than changes in management
  • Facebook? Google? iPhone? eBay? (Google, eBay and Yahoo made Fortune 500 in 1996)
  • O Tangible assets vs intangible assets on the balance sheet and measure of market value! O Merrill Lynch – value derived from Human Capital is about 85%. 1982 – balance sheet tangible assets accounted for approx 62% of corp’s value, 1992 = 38%; Today = approx 15% MARKET CAPS: Google (1998) $200 billion; Facebook (2004) = $100 billion; GE (1900) = $190 billion; Apple = $300 billion
  • Smarter in different areas/ways
  • Create the environment, provide the funding; leverage the knowledge and talent
  • Walk the talk
  • Clarion call for HR too (Gerstner about “Culture” and Roger Enrico on his two jobs)

Transcript

  • 1. “ Transformation Into a Knowledge-Based Economy” Michael Andrew, Etisalat Author of How to Think Like a CEO and Act Like a Leader Practical Insights for Performance and Results December 20, 2010
  • 2. Objectives Insights for the UAE to Grow and Prosper in the Knowledge Economy How Senior Leaders Must Think and Act to Make it Happen
  • 3. UAE VISION 2021 “We want to be among the best countries in the world by 2021. In a strong and safe union, knowledgeable and innovative Emiratis will confidently build a competitive and resilient economy. They will thrive in a cohesive society bonded by its identity, and enjoy the highest standards of living within a nurturing and sustaining environment”
  • 4. If Every Company (Or Government) Has a Winning Vision, Then Why Doesn’t Every Company (or Government) Win?
      • It’s not what the vision is, it’s what the vision does
      • Peter Senge – Former Director of the Center for Organizational Learning at MIT Sloan School of Management
    • ---------------------------------------------------------------------------
    • Do, or do not. There is no try – Yoda
    • -----------------------------------------------------------
    • Why predict the future when we can create it?--- GE
  • 5. Vision is about foresight....and Execution which leads to Realizing UAE’s Aspiration for 2021 Results with Integrity which leads to Leadership is about
  • 6. Do the Right Thing Do the Wrong Thing Do it Well Do it Poorly X X X
  • 7. Transforming to a Knowledge Economy
    • Does senior leadership have a clear and broadly shared understanding of how global competitiveness and the global economy may be different 5 or 10 years from now?
    • Are we looking farther out more than other countries?
    • Is the viewpoint about the future reflected in short-term priorities and actions?
    • Are we adapting our management/leadership styles to get the MOST out of knowledge professionals?
  • 8. Transforming to a Knowledge Economy
    • What will give us the Competitive Advantage - “UNIQUE” and “DIFFICULT TO REPLICATE?”
    • Will we set new rules of economic transformation or will we follow others? Will we compete within an existing industry and global economic structure or will we compete by shaping the future? Do you want to be the “author” of this transformation?
    • What percentage of your time is spent on external rather than internal issues? The 40%-30%-20% model (Prahalad’s and Hamel’s Competing For The Future)
  • 9. UAE Progress!
    • TOP 25% in INNOVATION INDEX (according to Economic Intelligence Unit)
    • TOP 25% in KNOWLEDGE INDEX (according to The World Bank)
  • 10. What YOU Can do as a Leader in the Knowledge-Based Economy and Help UAE Achieve Vision 2021
  • 11. The Purpose of Business A business that makes nothing but money is a poor kind of business . Henry Ford – Founder Ford Motor Company
  • 12. The Economics of Focusing on Employees 1 st (the Knowledge Professionals) and Customers 2 nd Treat customers like guests and employees like people. Tom Peters – Thought Leader, Author, Former McKinsey Director
  • 13. Practical How-To’s Now and Always
    • Stay One Step Ahead
    • (Strategic Foresight = 40%x30%x20%)
    • Leverage Knowledge & Human Capital
    • Enable Action & Productivity with the Knowledge Workers
  • 14.
    • Current & Potential External Realities
    • Corporate Considerations
    • Internal Capabilities
    • So What?
    • Now What?
    • McKinsey 7S, SWOT, Welch’s View, Drucker’s View
    • Thinking Innovatively Like Google’s “70-20-10”
    Thinking Strategically (Like a CEO)
  • 15. Satisfied Consumers Unsatisfied Consumers Unarticulated Needs Articulated Needs Unexploited Opportunities Unexploited Opportunities Unexploited Opportunities The Easy Part From CK Prahalad and Gary Hamel
  • 16. The Strategic Relevance of the Intangible Assets and the Greatest Corporate Asset: Human Capital The only irreplaceable capital an organization possesses is the knowledge and ability of its people. Andrew Carnegie – Industrialist and Philanthropist
  • 17. Enhance Your Know-how and “Know-WHO” A wise man makes more opportunities then he finds. Francis Bacon – English Philosopher and Politician
  • 18. Surround Yourself with People Smarter than You! Behind an able man there are always other able men. Chinese Proverb
  • 19. Surround Yourself with Attitude versus Aptitude Nothing great was ever achieved without enthusiasm. Ralph Waldo Emerson – Author, Poet, Philosopher
  • 20. Leaders Facilitate A leader is best known when people barely know he exists. When his work is done, his aim fulfilled, they will say, “We did this ourselves.” Lao-Tse – Ancient Chinese Philosopher, 6 th Century BC
  • 21. Leaders Serve Every person I have known who has been truly happy, Has learned how to serve others . Albert Schweitzer – Philosopher, Physician, Nobel Peace Prize Winner
  • 22. Leaders Model We must become the change we want to see Mohandas Ghandi Leadership is practiced, not so much in words as in attitude and actions. Harold S. Geneen – Business Executive
  • 23. Elevate Your Leadership Role
    • Think Outwardly into the Future – “Control Your Destiny or Someone Else Will!”
    • Build Capability and Continue to Focus on Performance – “Chief Development Officer”
    • Leverage Human Capital and Intangible Assets – they are the make-or-break corporate competencies
    • Hatch and Harvest Innovation
    • Drive Transformation, Take the Lead!
    • Lead with Education, Learning, Development
    • Think Like a CEO and Act Like a Leader
    • Enhance Everyone’s Know-How and Know-WHO
  • 24. Thank You
  • 25. The Revenue/Profit Chain Revenue Customer Loyalty Profit Satisfied Employees Customer Satisfaction Loyal Employees Quality of Service or Products Organization Culture, HR Processes, Systems, Corporate Management, Etc
  • 26. Fortune’s Most Admired
    • People Management
    • Innovation
    • Use of Corporate Assets
    • Quality of Management
    • Social Responsibility
    • Product/Service Quality
    • Long-Term Investment
    • Financial Soundness
  • 27. The Global Demographic Shift Implications for Managing Knowledge Workers? Implications of Market Value versus Book Value?
  • 28. Agenda
    • “ What?” -“So What?” – “Now What?” of the Knowledge-Based Economy
    • How The UAE Can Make it Happen and Be a Leader in the Knowledge-Based Economy (and What YOU as a Leader can do)
    • - Thinking Like a CEO (The Executive Perspective)
    • - Acting Like a Leader (Leading for Results)