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”
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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
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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
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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
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
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27. The Global Demographic Shift Implications for Managing Knowledge Workers? Implications of Market Value versus Book Value?
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Editor's Notes
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)
