Under the patronage of His Majesty The Custodian of the Two Holy Mosques King Abdullah Bin Abdulaziz Al SaudChairman of the Supreme Economic Council
GCF History 7 GCF 2012 Executive Summary 19Table of Contents Session Highlights Entrepreneurship Village and Portal 29 71 GCF 2012 Speakers 73 GCF 2012 Sponsors and Media 83 Partners GCF 2012 Gallery 91
GCF History Professor Michael Porter Bishop William Lawrence University Professor, Harvard Business School
2007Knowledge-Powered Economy 1st GCF Information and Communication As an industry at the forefront of Technology (ICT) as an Enabler for change, Saudi leaders identified Competitiveness” was the theme and implemented a bold program of addressed at the first ever Global economic reforms and have encouraged Competitiveness Forum held in 2006. the creation of a highly active, The forum explored the impact ICT can innovative and competitive private have on competitiveness and how to sector. The keynote speech – entitled harness that impact to its full potential. “ICT as an Enabler of Competitiveness” was presented by Bill Gates, Chairman Participants concluded that ICT was of the Microsoft Corporation and was a critical tool from which to build a followed by presentations, and panel knowledge-based society with a highly discussions based on the National productive population and economy Competitiveness Agenda and ICT as driven by knowledge-based assets, an enabler in achieving Saudi’s 10x10 skills and innovation, as opposed to one program. based on just natural resources or labor advantages.
2008Global Growth Engine 2nd GCF The second annual Global benefit of competitiveness and to Speakers included Professor Michael Competitiveness Forum was expanded position competitiveness as a key global Porter from Harvard University, John in both scope and size to provide a challenge. Chambers, Chairman and CEO of Cisco, high-profile and global perspective and Professor Stephane Garelli, Director The GCF attracted internationally on competitiveness that would of the IMD World Competitiveness recognized leaders to speak and simultaneously increase the visibility Center. participate and included subthemes of the Kingdom’s efforts and further ranging from education to develop the GCF platform. The event was entrepreneurship, infrastructure to designed to be a premier gathering of innovation and much more. Sessions global thought leaders and innovators, were designed around various aspects who would then go on to participate at of competitiveness to create the the World Economic Forum in Davos. appropriate platform for discussion With the theme of “Competitiveness as by experts, corporate leaders, political an Engine for Economic Growth”, it aimed leaders, NGOs, academics and other to draw attention to the macroeconomic stakeholders.
2009Delivering World-Class Value 3rd GCF The third annual Global Competitiveness At a time when financial distress had contribution to shared prosperity. Forum followed on from and improved erased trillions of dollars in asset value To answer these questions, the world’s upon the first and second forums, worldwide, the Global Competitiveness premier gathering on competitiveness and convened as the global economy Forum’s first speech by Carlos Ghosn, challenges was joined by eminent leaders, appeared to fall over a precipice in Nissan’s President and CEO, declared: executives, intellectuals and Olympic January 2009. “Value creation is what responsible athletes with visionary perspectives on competitiveness is all about”. For nations, The conference’s theme, “Responsible how to link the competitiveness agenda as for enterprises, competitiveness Competitiveness”, provided in many with a far-reaching concern for social is about delivering world-class value ways a summary of and a productive responsibility. The insights that emerged to customers, to employees and to approach to the challenges ahead. were powerful, and proceedings of the investors. Yet, as the economic crisis 2009 GCF informed an open letter to How could irresponsible management unfolding in early 2009 made clear, to the leaders of the G20 member nations have led world markets in credit, in be meaningful, competition needed to calling for an aggressive, coordinated housing, in energy, in crops so badly proceed on a responsible footing. response. astray, and how could responsibility be In areas ranging from carbon to credit, restored? How could governments and GCF panelists agreed that apparently the private sector tackle multi-faceted profitable global markets had often economic problems without stalling destroyed rather than created value the drive for competitiveness and and explored ways of restoring their shared prosperity?
2010Sustainable Competitiveness 4th GCF The fourth annual Global Competitiveness concern with sustainability and social systems with which it is intertwined. In Forum convened as the global economy responsibility. The insights that emerged addition to tackling issues of sustainable appeared to be recovering from one of the were a testament to the growth and competitiveness, the fourth annual greatest economic challenges of our time. global scale of the GCF 2010. GCF hosted a number of events that The conference’s theme, “Sustainable The Forum featured speeches from created networking opportunities and Competitiveness”, summarized the business leaders, including GE’s Jeffrey drove international media attention. On outcomes of the recession and provided Immelt, Cisco’s John Chambers, Michael every evening during the Forum, SAGIA a productive approach to the challenges Dell, and Paul Polman of Unilever. Saudi hosted a gala dinner that featured one ahead. How could management prevent leaders H.E. Dr. Ibrahim Al Assaf and H.E. of its initiatives. The initiatives at the a future crisis? Did governments react Dr. Mohammad Al-Jasser brought the Forum were the second annual Saudi appropriately? How could we move Saudi perspective on the global crisis. Fast Growth 100, the Michael Porter forward by increasing regulation to Finally, the Forum was closed by Jeffrey Prize and the Saudi Arabian Responsible prevent another crisis, while ensuring Immelt, who discussed a number of Competitiveness Index, as well as the regulation did not stifle competitiveness? specific recommendations on remaining launch of the CEO 100. Additionally, To answer these questions, the world’s sustainably competitive, both for there were daily book signings that premier gathering on competitiveness companies and nations. featured many of the speakers at the challenges was joined by global leaders, Forum, as well as an art exhibition that The key takeaway from the Forum was executives and intellectuals with put the spotlight on Saudi artists. Finally, that to deliver sustainable prosperity, visionary perspectives on how to link the there were special media sessions with capitalism must be attentive to the social, competitiveness agenda to a far-reaching Bloomberg and CNN filmed at the Forum. environmental, political and financial
2011Innovation 5th GCF The fifth annual Global Competitiveness keynote speech by Bill Clinton, Founder iPads and harnessing the power of social Forum heralded the celebration of both of the William J. Clinton Foundation and media outlets like Twitter and Facebook the fifth year anniversary as well as 42nd President of the United States. for the latest GCF news and commentary. the completion of the 10x10 program. More than any previous GCF, the world The Forum’s opening ceremony was With the theme of “Innovation as was introduced to the GCF through presided over by H.R.H. Prince Nayef a Means of Competitiveness”, the the almost 20 leading media partners Bin Abdulaziz Al Saud, Second Deputy conference dug into the key elements including CNN and Financial Times. Prime Minister of Saudi Arabia, with of the competitiveness agenda and various ministers also in attendance In addition, the GCF celebrated the the role innovation plays, drawing including H.R.H. Minister of Municipal various initiatives and announced upon the expertise and knowledge of and Rural Affairs, Prince Mansour Bin winners for the RCI, SFG, FDI, Oxford and some of the world’s brightest and most Miteb, Minister of Justice, Mohammed the newest MCY, the Most Competitive accomplished figures. Sessions focused Al-Issa, Minister of Petroleum and Youth Initiative which focuses on on sector-specific innovation as well as Mineral Resources, Ali Al-Naimi, Minister developing the new leaders of tomorrow. topics such as the world’s food supply, of Commerce and Industry, Abdullah UFOs, Cities of the Future and more. Zainal Alireza and Minister of Labor, Adel The 10x10 program was celebrated with Fakieh, amongst many more. a dedicated panel discussion on the third day with a distinguished panel of The Forum was the first e-forum of its speakers. This was followed by a surprise kind, using the latest technology via
“ “ I wouldn’t have come here if I was not optimistic.GCF 2012 Executive Summary H.R.H. Prince Turki Al-Faisal Chairman, Board of Directors, King Faisal Centre for Research and Islamic Studies
2012 6thGCF GCF 2012 now more important than ever and were Unilever’s Paul Polman, Gallup’s Jim Clifton, 3M’s George how can it be financed? What is the Buckley, Aramex’s Fadi Ghandour; Michael Porter, the Bishop For the past six years, the Global relationship between a competitive William Lawrence University Professor at Harvard Business Competitiveness Forum has been society and an entrepreneurial School; Jean Chretien, former Prime Minister of Canada and successfully probing different areas of one? What are the distinguishing Un-Chan Chung, former Prime Minister of South Korea. the global competitiveness agenda. The characteristics of an entrepreneur and sixth annual conference convened as In addition, many Saudi leaders and ministers attended the how important is failure? How can we the global economy has been struggling Forum. H.E. Dr. Tawfiq Al-Rabiah, Minister of Commerce and foster entrepreneurship in the public to recover from the financial crises Industry, emphasized on the importance of improving the sector? and create more jobs. The conference’s quality of life and creating jobs in Saudi Arabia while H.R.H. theme was “The Entrepreneurship The world’s premier gathering on Prince Turki Al Faisal, Chairman of the King Faisal Center for Imperative” and it highlighted the power competitiveness challenges brought Research and Islamic Studies, focused in his keynote speech on of entrepreneurship as an engine of job together more than 100 speakers the key regulatory challenges facing the financial sector and including eminent leaders, executives governments. H.E. Adel Fakieh, Minister of Labor, outlined a growth and economic growth in Saudi and intellectuals in order to answer these reform agenda for the country’s labor force and H.R.H. Prince Arabia and the broader global economy. questions. Their thoughts and ideas Faisal bin Abdullah, Minister of Education, reviewed recent The Forum touched upon all forms were presented and debated through initiatives to improve Saudi Arabia’s educational system. of entrepreneurship and sought to more than 30 panels and speeches with address the various challenges facing more than two thousand attending the entrepreneurs. Why is entrepreneurship three-day Forum. Some of the speakers
Opening Ceremony Riyadh, Saudi Arabia. The 6th annual Global the importance of entrepreneurship and its Competitiveness Forum (GCF) was launched relevance to competitiveness. In addition, he with “The Entrepreneurship Imperative” as its noted that there will be more than 100 speakers, theme with H.E. Dr. Tawfiq Al-Rabiah, Minister of with 35 panels and around 2000 attendees. Commerce & Industry, delivering a message on Throughout the presentation, videos were behalf of the Custodian of the Two Holy Mosques shown of the past five GCFs and the initiatives emphasizing the importance of improving the that were developed from those forums such quality of life and creating jobs in Saudi Arabia as the Responsible Competitiveness Index and through sustainable economic development. Saudi Fast Growth 100. Saudi Arabia’s current position as a globally recognized place to do business is illustrated by The ceremony concluded with awards given to the World Bank Group’s Doing Business report the GCF Competitiveness Partners, Strategic ranking of 13 globally and the World Economic Partners, Sponsors and Media Partners. Forum’s Global Competitiveness Index ranking of 17. Mr. Fahd Hamidaddin, Head of Marketing and Competitiveness Initiatives at SAGIA, explained how Saudi Arabia has attracted large amounts of foreign direct investment in recent years and mentioned that the GCF has come to resemble “the Davos of Middle East”. Mr. Abdulla Al- Uzaib, the GCF’s Chief Executive, highlighted
Agenda Day 1 Welcoming & Networking Keynote Speech George Buckley, CEO, 3M Panel Session Saudi Responsible Competitiveness Index“ Panel Session Entrepreneurs must have a dream January 22nd Panel Session The Entrepreneurship Imperative Generation C - Click, Connect, Communicate, Collaborate and must act on it to unleash creative “ energy, overcome challenges and think 2012 Panel Session The Coming Jobs War Panel Session The Anatomy of an Entrepreneur Panel Session Artrepreneurs: Creating Businesses Keynote Speech H.R.H. Prince Faisal Bin Abdullah, Minister of Education outside the box. Panel Session Fostering Entrepreneurship Babson College Workshop Kevin Roberts Panel Session The Art of Failure CEO, Saatchi & Saatchi
Agenda AgendaDay 2 Welcoming & Networking Keynote Speech H.R.H. Prince Turki Al Faisal, Chairman, King Faisal Panel Session Entrepreneurship in the Public Sector Day 3 Welcoming & Networking Keynote Speech Michael Porter, Bishop William Lawrence University Panel Session Entrepreneurs Speak Out: Entrepreneurship Center for Research and Islamic Studies Professor, Harvard Business School and Economic GrowthJanuary 23rd Panel Session Panel Session Aerotropolis January 24th Panel Session Panel Session2012 2012 CNN Roundtable-Global Risks 2012: Intrapreneurship - How conglomerates do it Hard Talk - Competitiveness The Challenges Ahead Keynote Speech Kevin Roberts, CEO, Saatchi & Saatchi Panel Session Panel Session Panel Session Greenovation: Good for business too Disruptive Technologies – Life Extension and Other An Apple a Day is No Longer Enough Panel Session Emerging Sciences Show Me the Money Panel Session Panel Session After the Storm: In the wake of natural disasters Panel Session The Power of Entrepreneurial Thought and Act Keynote Speech The Innovation Generation Babson College Workshop H.E. Adel Fakieh, Minister of Labour Panel Session How to Grow an Entrepreneur - Babson College Workshop Keynote Speech Panel Session Un-Chan Chung , Former Prime Minister, South Korea Giving: From Funding to Empowering Keynote Speech Marco Tempest, Techno-Illusionist Panel Session We Love Smart Brands Lunch Program Most Competitive Youth Initiative (MCY) Lunch Celebration Lunch Program Saudi Fast Growth 100 Initiative (SFG) Celebration27 www.gcf.org.sa
“ Entrepreneurship can be taught through a process of empirically looking at the behavior of entrepreneurs, testing theirSession Highlights “ thought process through action and building upon their mistakes. Len Schlesinger President, Babson College
Keynote Speech The Entrepreneurship ImperativeDay 1 George Buckley, CEO, 3M What does it take to be an entrepreneur and can innovate. For smaller companies, this equates toJanuary 22nd “Remaining competitive this be taught to aspiring leaders? creating the regulatory and market conditions that allow SMEs to grow, but also providing2012 Panel speakers addressed the ability of and succeeding in a entrepreneurs to see opportunities where most financial resources to accountable teams and economically viable projects. dynamic economy requires other people don’t. As mentioned by Magatte Wade, Founder and CEO of the Tiosanno Tribe, Creating the right entrepreneurship ecosystem a relentless pursuit of “Entrepreneurship is about the freedom to make is a function of the local environment and innovation and risk.” the world what you want it to be!”. economy, and leaders should avoid the pitfall of replicating experiences elsewhere locally. “The Whilst there is no clear formula for success, this Silicon Valley cannot be replicated around the panel recognized the significant contribution “The best way to forecast the future is to create world!” said Len Schlesinger, President of Babson of entrepreneurship to economic and social it”, argued Buckley. To truly succeed, companies College. impact. As such, panel speakers agreed on the must pursue competitiveness across six role that governments, societies and business Fadi Ghandour, Founder and CEO of Aramex, platforms - cost, technology, customer service, leaders need to play in creating an environment stressed the importance of celebrating local brands and marketing, distribution and people, that fosters entrepreneurship and innovation. success stories in the Arab world as a means to he outlined, adding that innovation within these encourage entrepreneurship in the Arab youth, areas should be integrated into the DNA of a In large corporations, this means providing the and help address the challenges and frustrations company. adequate freedom and tools for employees to faced by younger generations. Buckley concluded his presentation, arguing that Remaining competitive and succeeding in a Since the advent of globalization, competition companies must “adapt and change, innovate dynamic economy requires a relentless pursuit in the global market is fiercer than ever, and in all senses of the world, faster than the Panel Members of innovation and risk within all areas of a innovations are disrupting established markets competition”, and challenge their competitors company, said George Buckley, Chairman and and products in the blink of an eye, said Buckley. where they are strong, not only where they are Ana Dutra, Fadi Ghandour, Len Schlesinger John Quelch (Moderator) CEO of 3M, a global manufacturing company. As Asian competitors who are more nimble, weak. In a rapidly changing business world, CEO, Korn/Ferry Leadership and Talent Founder & CEO, Aramex President, Babson College CBE, Dean, China Europe International In his keynote speech opening the first day of energetic and harder working than many “There are no silver medals for second place”. Consulting Business School the Global Competitiveness Forum, Buckley existing companies enter the market, companies George Buckley, Magatte Wade, discussed competitiveness and innovation in must adapt to survive through the relentless Christian Klingler Chairman & CEO, 3M Entrepreneur, Founder and CEO, The a constantly changing world, suggesting that pursuit of innovative incremental improvements Member of the Board of Management, Tiosanno Tribe while the pursuit of innovation may be risky, it is and ‘great disruptors’. an essential pursuit in a cutthroat economy. Volkswagen AG31 www.gcf.org.sa
The Coming Jobs War The Anatomy of an Entrepreneur Taken from the title of a recent book by Gallup, customers and create competitive businesses Entrepreneurs are not born, but rather are ideas. Amy Rosen, President and CEO of the “The Coming Jobs War” panel discussed the that can generate jobs. built through training, education and a proper Network for Teaching Entrepreneurship added, growing challenge of meaningful job creation enabling environment that allows them to that while these traits are important, “You can’t The MENA region suffers from the highest to the global community and the increasing challenge the status quo, shape opportunities do it [entrepreneurship], if you do not have regional unemployment rate in the world. A importance of entrepreneurship as a source of and take risks, said several panelists of The the basic skills to read and do the basic things key challenge that the region faces is a gross jobs. According to Jim Clifton, CEO of Gallup, the Anatomy of an Entrepreneur discussion on required”. mismatch between the jobs offered and number of people around the world who yearn the second day of the Global Competitiveness Audience members who joined the discussion the skills trained. Lorraine Hariton, Special for a “good job” is growing rapidly and today Forum. Addressing a crowd of businessmen and suggested that in their experience, the key Representative at the U.S. Department of State, exceeds 3 billion. A “good job” lies at the core of women, entrepreneurs and other professionals, characteristics of an entrepreneur were suggests addressing this challenge by learning human aspirations today and affects all aspects participants suggested that the genius for amongst other traits, adaptability, perseverance, from “education for employment” initiatives of human decisions. The formidable challenge enterprise does not materialize out of nowhere, drive and desire. Enabling these attributes and that have been tried and tested globally. Hariton of creating good jobs is exacerbated by the but comes through development. encouraging entrepreneurship in the Middle East argues that ensuring that college graduates current shortage of meaningful jobs globally have the skills that will enable them to make Participants declared that developing an will require overcoming a general fear of failure and the stalling of organic job growth among meaningful contributions to organizations in entrepreneurial spirit and skills requires among people in the region that often prevents big businesses. the private sector, or as entrepreneurs, will be directed training, mentoring and experience in them from embracing failure as a learning and There is a growing recognition that crucial to the region’s success in ameliorating business operations. Shahid Ansari, Provost of growth opportunity, said Sean Rush, President entrepreneurship can fill the jobs gap and unemployment. Babson College, argued that entrepreneurs are and CEO of JA Worldwide. create the meaningful jobs that the world needs self-aware, action oriented, adept at shaping Addressing this challenge and furthering desperately; countries must help entrepreneurs opportunities, eager to embrace surprises and entrepreneurship in the region will facilitate grow by enabling the ecosystems that foster skillful at enrolling others in their vision and a new generation of entrepreneurs acrossPanel Members their success. Countries create entrepreneurial Panel Members the GCC and the wider region. As expressed ecosystems by identifying entrepreneurs, by David Sproul, Chief Executive of DeloitteJim Clifton, John Quelch (Moderator) training them, providing them with access to Amy Rosen, David Sproul, Sean C. Rush, Touche Tohmatsu Regions, “The ability toCEO, Gallup CBE, Dean, China Europe International capital and resources, enabling a competitive President & CEO, Network for Teaching Chief Executive, Deloitte Touche President & CEO, JA Worldwide dream the future, whether you get there or Business School environment and celebrating their successes. Entrepreneurship Tohmatsu Regions not”, is the key to entrepreneurship. DevelopingLorraine Hariton A key challenge in this effort in the region is Shahid Ansari, entrepreneurship skills through education andSpecial Representative, changing the cultural mindset that penalizes Bruno Lafont, Jean-Pascal Tricoire, Provost, Babson College training will unleash these dreams and allowCommercial and Business Affairs, US entrepreneurial failure. Innovation, while Chairman & CEO, Lafarge President & CEO, Schneider Electric entrepreneurship to flourish throughout the important, should only be thought of as a tool region.Department of State that entrepreneurs can leverage to attract 33 www.gcf.org.sa
Led by Saudi Arabian General Investment extensive research and consultation with someAuthority (SAGIA), the “Saudi Arabian of the world’s largest companies, managementResponsible Competitiveness Index” aims to scholars and investors.help businesses in the Kingdom improve their Over the past 4 years, participation in the indexown competitive performance, improve the has shown that Responsible CompetitivenessKingdom’s competitive performance, and it performance is increasing. There has been asupports social, economic, and environmental steady increase in the overall performance ofdevelopment through the way companies companies since 2009. Participation in the Indexmanage their environmental and social is growing. The number of companies has risenfootprints. The index’s framework is built on from 40 companies in the first year to 100 in this past year.
Generation C –Click, Connect, Communicate, Collaborate Generation C is the name given to Internet users who were born after 1990 and who readily use telecommunications tools to connect with the global community. Gen C’s exponential growth, sense of individual empowerment, and expectations of high-quality, undisrupted service are fundamentally altering the landscape for organizations online and offline. The rise of Gen C has created an interconnected global village of consumers who have high expectations whenWorkshop LeaderMichael Fertik (Moderator) Eric TsaiFounder & CEO, Reputation.com Chief Executive Officer, eriQoo.comCarlos Moreira Habib HaddadFounder, Chairman & CEO, WISeKey CEO, Wamda
Keynote SpeechH.R.H. Prince Faisal bin Abdullah,Minister of Education These projects include: encouraging early “Education is the radical childhood education, improving the education curriculum in order to reflect the latest changes solution that provides in technology and sciences, providing advanced students with knowledge training to teachers, working on creating an independent body in order to evaluate the and talents needed to current state of public education and improve transform the economy the administrative quality in the ministry and decentralizing it. to a knowledge-based economy.” H.R.H. Prince Faisal Bin Abdullah, Minister of Education, started the keynote speech by stating that education is the radical solution that provides students with knowledge and talents needed to transform the economy to a knowledge based economy. The path of educating Saudi citizens, H.R.H Prince Faisal bin Abdullah said, started with the late King Abdulaziz and then expanded for a period of dozens of years until it reached five million students, five hundred thousand teachers and more than thirty three thousand schools. He considered the budget given to the education sector, one hundred seventy billion riyals, to be generous and stressed that the ministry is currently working on executing many strategic projects that respond to the needs of a knowledge economy.41 www.gcf.org.sa
H.R.H. Prince Turki Al Faisal CNN Roundtable – Global Risk 2012:Day 2 Chairman, King Faisal Center for Research and Islamic Studies The Challenges Ahead What are the key risks to watch out for in 2012?January 23rd The CEO of Unilever, Paul Polman, mentioned in his opening remarks that the three areas2012 of risks businesses could be facing in 2012 are the “growing power vacuum at national government levels to respond to the global economic crisis”, “the vacuum being filled by dissatisfied consumers and citizens” and “the growing implications of a resource scarce world”, which Polman said should concern Saudi Arabia as it is the country with the third highest water consumption in the world. Robin N02 02gin tiN4gl GwA702697h x “The new emerging markets will not provide this assistance without a greater voice”, argued H.R.H. Prince Turki Al Faisal, Chairman of the King Faisal Center for Research and Islamic Studies in Riyadh. The former ambassador to the US and UK was discussing the rapidly changing dynamics in the global financial regulatory architecture, in which much wider participation will be required to prevent future financial crises.
An Apple a Day is No Longer Enough The Power of Entrepreneurial Thought and Act - Babson College Workshop An exciting panel, bringing together various between premature mortality and inadequate Led by Len Schlesinger, President of Babson The future cannot be linearly extrapolated experts in the healthcare and pharmaceutical patient behavior and stressed the need for better College, and Shahid Ansari, Provost of from the past; business leaders need to industries was held yesterday morning, on the patient education as a key factor for reducing Babson College, the workshop “Finding and embrace uncertainty and find entrepreneurial third day of the Global Competitiveness Forum. premature mortality. Making Opportunities“ engaged a packed opportunities in it. Humans have a bias towards The panel addressed some of the key challenges On the topic of entrepreneurship in the auditorium in a comprehensive discussion on sophisticated thinking and analysis over simple and opportunities facing these industries. healthcare space, Mr. Stephen Kennedy Smith, the entrepreneurial thought process and its experience; this bias is wasteful and dangerous Dr. Marijn Dekkers, Chairman of the Board at Board Member of Rapid Pharmaceutical and importance to business leaders of all kinds. in an increasingly unpredictable world. Business Bayer AG, kicked off the panel by giving an Owl Biomedical, shared his view on some of the Entrepreneurship can be taught by empirically schools and economists are currently engaged insightful presentation on the improvements interesting opportunities ahead in the Kingdom, looking at the behavior of entrepreneurs, in unproductive stupidity due to their fear of in life expectancy, contrasting that with the rise in particular in supporting the development testing their thought process through action unpredictability and “unknowability” and need in non-communicable diseases, and shedding of the healthcare infrastructure and growing and building upon their mistakes. Serial to change. some light on the significant increases in the the generic drugs’ market. Mr. Nakagawa, CEO entrepreneurs think about the world differently While it has been a topic of debate in the GCF, costs of drug development. of Mobile Healthcare Inc., advised aspiring and it is important to eschew assumptions and the entrepreneurial thought process can be entrepreneurs to surround themselves with a empirically study their behaviors. Successful taught at business schools and can benefit Dr. Delos Cosgrove, CEO of the Cleveland Clinic entrepreneurs usually do not have grand visions knowledgeable team, from whom they can learn business leaders of all kinds in Saudi Arabia. This Foundation, shared some of the experiences of what they want to do, for example; they and grow. “Become an information junky and workshop showed clearly the mechanisms that and successes of the foundation in changing have only a vague idea and test it with action. remain curious!” said Mr. Nakagawa. need to be put in place to teach entrepreneurship patient behaviors towards health and wellness Business schools should join Babson’s mission management. Dr. Cosgrove highlighted the link Dr. Cosgrove summarized the global situation and increase its accessibility to people in all of initiating a broad scale democratization of fields. of the healthcare industry with an insightful entrepreneurship as a method on a global scale.Panel Members observation, saying “These are the most exciting Workshop Leaders times for healthcare and for innovation in this industry, with significant challenges ahead forBright B. Simons (Moderator) James Nakagawa Stephen Kennedy Smith Len Schlesinger payers, providers, and patients!”.Director of Development Research at CEO & Chief Care Architect, Mobile Member of the Board, Rapid President, Babson CollegeIMANI; President of mPedigree Network Healthcare Inc. Pharmaceutical and Owl Biomedical Shahid AnsariDelos Cosgrove Dr. Marijn Dekkers Provost, Babson CollegeCEO, President & Chairman of the Board, Chairman of the Board of Management,Cleveland Clinic Foundation Bayer AG 45 www.gcf.org.sa
Giving: From Funding to Empowering We Love Smart Brands Entrepreneurship and education are key entrepreneurs “help empower the poor, but In today’s marketplace, overwhelmed consumers concept of “disintermediation”, which refers to elements of empowering individuals around resources are limited”, added Jack Sim, CEO of are sophisticated and skeptical, largely due to the increasing transparency of the marketplace, the world to extricate themselves from poverty the World Toilet Organization. the rise of social media, agreed the members where consumers have unprecedented access to and develop sustainable business, argued As such, a combination of training and of yesterday’s panel “We Love Smart Brands”. information about the brand, the experiences of participants on the panel, “Giving: From Funding mentorship are key elements of philanthropy; Although the stakes are now higher, panel other consumers and product pricing. to Empowering” on the third day of the Global however, social entrepreneurs and NGOs must members Jack Martin, Paul Hembrey and Magid The session concluded with Mr. Hembrey’s Competitiveness Forum. Participants from break free of the constraints of fundraising and Abraham remained confident about the ability fascinating account of the transformation of diverse entrepreneurial backgrounds elaborated unsustainable funding cycles, suggested Julian of smart brands to win over “the public” with the Pirelli brand from being considered a boring on the relationship between economic progress Gore-Booth, CEO of the STARS Foundation. lots of communication and attentive listening to “distress purchase” to becoming the focal point and social transformation and the key role feedback. of a glamorous sporting event, the Formula entrepreneurs play in addressing some of the Women are a vital part of this process, added Basmah Al Omair, CEO of the Khadija bint The talk was kick-started by Mr. Abraham, who One, with an innovative strategy and relentless world’s foremost challenges. gave a compelling account of how the Internet communication with the public. Khuwailid Center for Businesswomen, and A holistic combination of skills training, must be empowered to succeed. Sim confirmed, has been a game-changer for brands. While funding and mentoring are required to help “When we come together, we do things faster, in the past branding was merely one element individuals develop the capacity to bring about cheaper, better and easier”. of sales, it now represents an ongoing and social transformation and economic progress, over-arching dialogue across the company and argued Andrew Devenport, CEO of The Prince’s consumers. Youth Business International. These social Mr. Martin then introduced the audience to thePanel Members Panel MembersAndrew Devenport Jack Sim, Michael Strong (Moderator) Jack Martin Paul HemberyCEO, The Prince’s Youth Business CEO, World Toilet Organization (WTO) Author, CEO and Chief Visionary Officer, Global Executive Chairman & CEO, Hill & Motorsport Director, PirelliInternational (YBI) FLOW Knowlton Mohammed Rezwan Magid Abraham (Moderator)Basmah Al Omair Executive Director, Shidhulai Swanirvar Julian Gore-Booth Rory Sutherland CEO & Co-founder, ComScore Inc.CEO, Khadija Bint Khuwailid Center for Sangstha CEO, STARS Foundation Vice Chairman, Ogilvy Group UKBusinesswomen 47 www.gcf.org.sa
Saudi Fast Growth 100The Saudi Fast Growth list (SFG) is an annual ranking of the fastestgrowing companies in the Kingdom of Saudi Arabia. Founded bySAGIA, Al Watan and NCB. The list highlights the next generation ofcompanies that are creating jobs, spurring innovation and growingconsistently. The initiative was first launched in 2008 by the Saudi Arabian General Investment Authority (SAGIA), the National Commercial Bank (NCB) and ALWATAN newspaper as the Founding Partners. Later on, other entities joined such as SAP as a Competitiveness Partner, and PwC as a Knowledge partner. This year, celebration is unique as the list received more than 250 applications to compete on the top 100 companies. The SFG100 list measures the fastest-growing Saudi companies that are over five years old or start-ups. The importance of such recognition is to encourage companies with high rates of entrepreneurship that are able to deliver and sustain high rates of growth. Those companies are the foundation of a vibrant, competitive, knowledge-based economy. The Saudi Fast Growth was launched 5 years ago to help find and highlight those fastest growing Saudi companies in order to show the underlying health of the economy and its emergent trends. By their entrepreneurship, these companies represent the leading edge of a new approach to Saudi Arabia’s competitiveness.
Entrepreneurship in the Public Sector Aerotropolis The main topic of this panel was “how to Richard Boucher, Deputy Secretary-General of the Yesterday’s afternoon panel on “The challenges and constraints to its future growth. foster Entrepreneurship in the Public Sector”. OECD, said that in order to “get entrepreneurship Aerotropolis” provided attendants of the Global He went on to highlight some of the key success Robert Hisrich, Director of the Walker Center into government”, governments should Competitiveness Forum with an interesting factors underpinning the development of the for Global Entrepreneurship at Thuderbird, was introduce innovation and technology in the opportunity to learn more about some of the Aerotropolis model across the globe, namely, moderating this panel and started by discussing delivery of public services and bring the public notable changes taking place in the air transport the abundance of affordable land and the the challenges that must be overcome in order and private sector together through public- industry, and in particular, the development of commitment of governments and policy makers for the entrepreneurial process to take hold. private partnerships. air transport hubs. towards supporting the air transport industry. Some of these challenges were government Chad Evans, Senior Vice President of the Over the last decades, airports have evolved Mr. Wim Elfrink, Executive Vice President policies, bureaucracy and personnel restrictions. Council on Competitiveness, mentioned some from simple transport terminals into major at Cisco, emphasized the importance of Michael Andrew, global Chairman of KPMG, of the challenges to the “innovation and business hubs, catering services to neighboring technology in helping generate new services attributed the increase in entrepreneurship in entrepreneurship ecosystem” such as strict communities, generating hundreds of in the Aerotropolis. He also observed the need the public sector to two factors, the first being immigration policies and regulatory burdens thousands of jobs both directly and indirectly, for airport authorities to better segment and the “economic necessity” happening in the West and explained that they might be the reason and thus transforming their environment into understand their customers in order to resist the where governments are facing budget strains why some companies are moving offshore in real economic clusters. emerging competition in the GCC and in Asia. and high debt levels while the second driver was order to “scaleup”. Mr. Keith Williams, CEO of British Airways, the “population growth” in the East where there shed some light on the development of is a rapid rise in the middle class and a strain on Heathrow from a simple hub to one of the early natural resources. Aerotropolis’, which now faces some majorPanel Members Panel MembersChad Evans Robert Hisrich (Moderator) Jeff Nugent Wim ElfrinkSenior Vice President Director, Walker Center for Global Professor, Economics and Business, Executive Vice President, Cisco Systems Inc.Council on Competitiveness Entrepreneurship, Thunderbird University of Southern California Chief Globalisation OfficerRichard Boucher Michael Andrew Keith Williams John Quelch (Moderator)Deputy Secretary-General, OECD Global Chairman, KPMG CEO, British Airways CBE, Dean, China Europe International Business School 51 www.gcf.org.sa