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Issue: 24 | Februay - March 2015
Accomplish your vision www.smeworld.ae
A leading light
From Rs 50 to Forbes list, PNC Menon strikes a masterstroke.
Carve thy name with pride A brief chat on strategies and manufacturing, with the CEO of Panache International.
Strategic alliance partner
Corporate partners
Sole automotive partner
Contents February - March 2015
22 From Rs 50 to Forbes list, PNC Menon strikes a masterstroke
Gracing the Emirates NBD Global Business Series, Mr. Menon rode back in time to share his journey from being an inexperienced, young entrepreneur in 1976 to a business magnate worth one billion dollar real estate fortune by 2014.
09 Rare & Fabulous
High-end luxury products for CEOs and decision makers.
18 Why RAK FTZ is a ‘gamechanging hub’ for SMEs?
As the business precinct, RAK FTZ, bags the honour of being the ‘top global freezone for SMEs,’ the ISME team spoke to the CEO, Peter Fort, to understand the value-added services offered for entrepreneurs, what components strengthened their global reach and the development policies that have earned them deep investor confidence
28 A brief chat with the CEO of Panache International
The leading manufacturers of disposable products optimize flow and quality by constantly searching for ways to streamline and enhance performance. Put more simply, it is about thinking outside the box and making small changes to generate big results.
30 Angels or demons?
Strong companies have strong cultures, each infused with their unique individualistic flavour. Cultural behavior is a fundamental aspect that aides a company to grow, sustain and win in the long run. Thus, building a conducive culture within the halls of an office can ensure increased benefits. Mark Fisher tells us how.
Contents February - March 2015
36 8 Steps to make a team more effective
Entrepreneurs often find themselves in a position where the business they so enjoyed creating becomes a ‘job’ and they have been enslaved to what they have constructed. In the process, they have become ‘the business’, which means that the business cannot run without their presence, writes Simon Hodges.
40 Do people value what you know?
42 Top 10 skills of a Master
32 New Year's Resolutions Small Businesses Should Make and Keep
Networker
Neil Petch advocates on learn the skill of prioritising tasks by embracing a productive outlook. His philosophy goes: "if you want to be truly successful in business, balance is key. The trick is learning how to work smarter."
Networking your way to a business home run sounds like a great idea, but making the most of what could be golden opportunities to connect requires certain skills and abilities. Phil Bedford spins a-who, what and how- plan.
50 How to build an agile leader?
34 How are you?
Subject matter knowledge spirals down to zilch if it’s inaccessible and has no audience. Creating value through expertise is the real deal and the only aspect that transforms an expert into a thought leader, advises PK Menon.
A strong mind can derive infallible results. Therefore, de-clutter your mind and re-program your inner self if increased productivity is what you seek, solicits Sachin Thombare.
SMEs in the Middle East have been riddled with the insurance conundrum. It has become, both, a challenge and a rising concern that SMEs intend to tackle but lack the right resource and direction.
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EDITOR’S NOTE Intelligent SME has witnessed a phenomenal progress in the past four years. Exploring companies of diverse contours, hues and dimensions, we have seen the entrepreneur community don the evolutionary man’s hat for doing business in the region: stories of people starting from nowhere, developing a market that wasn’t being served and, in the end, making great success out of it. Truly, they have been authentic examples of how out-of-the-box thinking and creative strategies can transform business owners into bellwethers of UAE.
Publisher & CEO Shantanu A.P. Account Director Vijay G. Editor Samar Manzar Asst. Editor Audrey Fernandes Expert Contributors Mark Fisher Neil Petch Phil Bedford PK Menon Sachin Thombare Sandi Saksena
Salma El Shurafa & Veronique Ademar Simon Hodges TishTash V Ramkumar Art Director Aneesh Varghese Designer Retheesh Viswanath Web Developer Raj Shekar Reddy Project Coordinator Khushbu Ranjan Business.Dev. Manager Nasim Akhtar Response and communications
Response Executive Evelyn V.B. MIS Executive Rizza Leah L. Gabalfin Distribution Department
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Much like being a designated driver of the small businesses’ growth engine in the region, the Intelligent SME drove the community by hosting the Emirates NBD Global Business. About 20 successful UAE’s business stalwarts came up close and personal with entrepreneurs to share their journey and provided a business path for growth. These sessions not only helped in creating clarity out of complexity, but also inspired people to take a strategic approach to the future by orientating themselves on the trend map and asking themselves what are the big trends or structural drivers they need to be aware of. Tracking the sector from close quarters, I had an interesting time learning the collaborative effort of government to uplift the entrepreneurs-especially Dubai SME’s announcement of the SME 100 ranking- some poignant moments like the retrospection of the past brought tears to Rizwan Sajan’s eyes (founder and chairman of Danube), the first time we hosted the grand SME World Summit, the launch of CIO Choice Awards, among so many others. Personally, it has been a remarkable rollercoaster ride and I am thankful for so many memories as I take a final bow on the SPI platform from my role of an editor. I consider myself extremely fortunate to gather a team of wonderful writers, assistants, videographers and creative designers. Together the team orchestrated some really outstanding editions and you, dear readers, responded very favourably to the changes in the magazine. I truly appreciate the journey. Lastly, as we draw closer to the second edition of the SME World Summit, the ISME team brings you a curtain-raiser in this edition on what to expect at the biggest congregation of SMEs in UAE. Along with a regular dose of inspiration, motivational and business ideas, this issue brings some great insights from PNC Menon (founder and chairman of Sobha Group) who will tell you that it takes many years to build a business, they’ve all played the long game and there’s no such thing as overnight success. Hope it makes for an interesting read. As always, do write in to us at editor@theintelligentsme.com and give us your feedback.
Samar Manzar Disclaimer
SPI Publishing has endeavoured to bring out a publication that is reliable and informative. This is true to the best of our knowledge. The opinions presented are those of individual writers and not necessarily endorsed by SPI Publishing. The content in this magazine is protected by copyright law and is copyright to SPI Publishing unless credited otherwise, and may not be copied, reproduced or republished for any commercial purpose or financial gain.
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S U C C E S S I S A D E S T I N AT I O N
H AV E YO U A R R I V E D ?
WATCHES YACHTS DESIGNER JEWELLERY BOUTIQUE REAL ESTATE GADGETS EXOTIC DESTINATIONS FINE DINING
February - March 2015
Intelligent SME
Rare & Fabulous
Dubai's quest for contemporary luxury dining is here...
P
lush velvet and smooth leather, juxtaposed against classic wood panelling overlooked by sphere-shaped circular light installations, comes together for a distinctively modern-industrial chic vibe. This Valentine’s Day, indulge in sensory pleasures at Clé Dubai. The heart of the restaurant is Michelin-starred Chef Greg Malouf’s award-winning contemporary Middle Eastern cuisine. Guests can choose either the a la carte menu or an intimate three-course dinner that is just perfect for sharing. Hand-dived scallops with moutabbal & fennel salad, burrata with dukkah, red leaves & pomegranate dressing, white marrows, and
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cabbage rolls with freekah stuffing cooked in Italian tomatoes, monkfish tagine with couscous & organic chickpeas, rich chocolate tart with Turkish delight, yoghurt and honey pannacotta with apple caramel, are just some of the dishes meant for tantalising taste buds. While appetites are being attended to, allow resident performers Cirque Éloize to entertain with a thrilling number specially prepared for this night of romance. The in-house DJ will also be on hand to set the mood. To end the evening on a memorable note, each lady will be gifted with a bottle of the newly launched Chloé Love Story fragrance.
February - March 2015
Intelligent SME
Rare & Fabulous
In full throttle, Harley unveils 2015 line-up C
ombining world-class aerodynamics, exhilarating audio performance and dialedin ergonomic fit, Harley-Davidson expands its diverse offering of motorcycles and gives riders more ways than ever before to lead their own pack to the open road. “The broad 2015 Harley-Davidson model line-up demonstrates our commitment to delivering amazing products to our customers through world-class, customer-led product design,” said Matt Levatich, president and chief operating officer, HarleyDavidson Motor Company. “We are one with our riders around the world, and everything we do is about delivering what they expect and deserve from HarleyDavidson.” Customer-led innovations for 2015 include:
Road Glide Special® Motorcycle
The Road Glide Special is fully-loaded with a vented, frame-mounted fairing that minimizes head buffeting, Dual Reflector Daymaker™ LED headlamps, premium Boom! Box infotainment, upgraded suspension, Reflex™ linked braking with Anti-lock Braking System (ABS).
Street Glide® Special
The new Harley-Davidson Street Glide Special is a "fully loaded" version of the popular performance Touring model equipped with a High Output Twin Cam 103™ powertrain, Boom! Box 6.5GT infotainment system, Batwing fairing with split stream vent, Dual Halogen headlamp, Enforcer cast aluminium wheels and Reflex™ Linked Brakes with ABS.
New Braking System for Softail® Models
A new braking system for Softail models delivers improved modulation and responsiveness and decreases hand lever effort by 40 percent. New front brake components include a rigid four- piston fixed front brake calliper with 34 and 32mm pistons coated to minimize initial displacement, brake pads with high-
output friction material, a new master cylinder with a higher mechanical ratio, and a new 300mm front brake rotor. The calliper and master cylinder have been restyled to enhance the looks of each model.
Ultra Limited Low Motorcycle
Harley-Davidson takes fit further with a package of ergonomic enhancements that offer the lowest seat height and highest rider confidence available in a premium touring bike, combined with a full complement of Project RUSHMORE features and classic Harley-Davidson style.
CVO™ Street Glide® Motorcycle
Boasting a new Boom! Audio system backed by 600 watts of power streaming through four bi- amped front and rear three-way speakers, this limited-production bagger is a rolling concert venue that delivers shocking volume and outstanding sonic quality. Top it off with an intricate paint scheme and the added exclusivity of four colour options.
CVO™ Road Glide® Ultra Motorcycle
Drenched in chrome and custom paint, this superpremium touring motorcycle offers world-class aerodynamics, luxury touring essentials and the unrelenting performance of a Screamin’® Eagle TwinCooled™ Twin Cam 110™ engine. Across its 2015 model line-up, Harley-Davidson offers fresh style with eight new paint colours, including new Custom colours Black Magic and Radioactive Green and new Hard Candy Custom™ metal flake colours Cancun Blue Flake and Quicksilver Flake.
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February - March 2015
Intelligent SME
Rare & Fabulous
Tissot salutes the spirit of sport
Features
• Swiss made • Automatic movement • 316L stainless steel case with black PVD coating and see-through caseback • Scratch-resistant sapphire crystal • Water resistance up to a pressure of 10 bar (100 m / 330 ft) • Synthetic strap with folding clasp and pushbuttons • Limited edition of 3333 pieces • MotoGP presentation box with movement winder
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he Tissot T-Race MotoGPTM automatic limited edition 2015 is a testament to the sporting spirit that drives Tissot. A striking red and black aesthetic and familiar GT stripes complement the edgy new case design and new pushers shaped like bike footrests, a key new feature of the new collection. Sports fans must be quick off the mark if they want to own this highly desirable new piece that comes in its own very smart helmet box – limited to just 3,333 pieces, exclusivity is assured. Looking closely at this new piece, you will see just what it is that keeps the adrenaline pumping for wearers of one of the coolest sports watches around. Illustrations
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of parts of the motorbikes can be found in features such as the brake-disk on the bezel, the tyre trace on the back of the bracelet, all the way to the rear suspension rode in the bracelet’s attachment to the case. A see-through caseback with the wheel shape means the inner workings of this well-crafted, Swiss made piece can be easily admired. A chequered flag on the dial, with smart starting grid indices and Super-LumiNova® on the hands keep the sporting theme strong, while the flashes of red in the stripes and on the chronograph hands hint at the passion that goes into every single watch. It's the Swissness at the very heart of Tissot that makes the
brand such a distinguished one. The + in logo is the same as the Swiss flag, symbolising the quality and the reliability that watchmakers have proudly demonstrated since 1853. The innovative brand remains in its home in Le Locle in the Swiss Jura Mountains, keeping its Swiss identity at its core. The firm’s watches are authentic and accessible, using special materials, advanced functionality and meticulous design detail to create pieces that are both precise and stylish. The high calibre of the brand has been repeatedly recognised, as in its illustrious history Tissot has been named Official Timekeeper and Partner of MotoGPTM, FIM World Superbike, FIBA, AFL, RBS 6 Nations Rugby and the World Championships of cycling, fencing and ice hockey. Tissot, which sells its timepieces in more than 160 countries round the world, is a member of the Swatch Group, the world's largest watch producer and distributor of Swiss watches.
February - March 2015
Intelligent SME
Rare & Fabulous
Fujifilm X-A2, a camera for selfie lovers F
ujifilm is set to launch the FUJIFILM X-A2, offering outstanding colour reproduction, enhanced autofocusing and superb resolution. The X-A2 makes it easier than ever before for photographers in UAE to get the premium image quality that’s become synonymous with Fujifilm’s X Series. The X-A2 features Fujifilm’s newly developed Eye Detection AF, Auto Macro AF and Multi-Target 'MULTI AF' for fast and accurate autofocusing. “The X-A2 is designed keeping the trends of popular culture in mind. It is the first X Series model to sport a 175-degree tilting LCD making it easier to take selfies,” commented Yuta Kawamura, marketing manager, Fujifilm Middle East & Africa. Photographers can capture high quality images with the 16.3 Megapixel APS-C sensor. The camera is capable of shooting full high-definition movies (30 frames per second), incorporating the color effects of Film Simulations and beautiful bokeh achieved with the combination of the large sensor and a wide aperture setting. Fujifilm’s accurate eye detection auto focus technology detects and focuses on the eye of the subject within the frame thereby enabling easy capture of self portraits. One of the most notable feature of the recent X-Series cameras is easy transfer of images to a smart device via the Fujifilm App. The FUJIFILM Camera Application app enables transfer of photos and videos from the camera with a simple one-touch operation. Additionally, the camera sports Wi-Fi functionality for easy back up of in-camera data to a PC without the use of cables. The camera will be available with two different lens kits catering to the photographers that pursue a certain type of photography. A compact and lightweight standard zoom lens, the XC16-50mm
(equivalent to 24mm at the wide-angle end, and a telephoto zoom lens with focal lengths extending from 76mm in 35mm format) is ideal for landscape and fashion photographers. The lens has a class-leading minimum working distance of 15cm (approx. 7cm from the edge of the lens) for macro photography ideal for capturing perfect selfies. The second lens, the XC50-230mm F4.5-6.7, is a telephoto zoom lens ideal for wildlife photography. The lens offers an advanced optical performance across its focal range, producing clear images even from long distance. Several other macro lenses, telephoto, and fixed length lenses are available, and more will be launched eventually for Fujifilm’s X-series models. Other features include Fujifilm’s very own film simulation mode, advanced filters to add to the creativity of the photographer, and multiple exposure mode to combine two images within a single frame. Compatible accessories, cases, macro tubes, external mics are also available to enhance the functionality of the camera.
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February - March 2015
Intelligent SME
Get Informed
Emirates NBD launches co-branded commercial card programme in partnership with DMCC, MasterCard The strategic partnership between the three market leading organisations gives over 9,900 DMCC members unparalleled benefits of an advance commercial payment solution, offering flexible savings and financial solutions.
E
mirates NBD, a leading bank in the region, recently announced the launch of its first ever corporate co-branded card in partnership with DMCC (Dubai Multi Commodities Centre), one of the world’s leading commodity hubs for trade and enterprise and the largest and fastest growing Free Zone in the UAE, and MasterCard. Tailored exclusively for DMCC members, the Emirates NBD DMCC commercial card programme is the first ever corporate card co-branded with a Free Zone in the Middle East. The partnership was inked at a press conference and product launch hosted at Almas Tower, DMCC’s head office, where its executive chairman, Ahmed Bin Sulayem, and CEO, Gautam Sashittal, were present alongside Shayne Nelson, group chief executive Officer, Emirates NBD, and Eyad Al Kourdi, country head – UAE, MasterCard. The strategic partnership between the three market leading organisations gives over 9,900 DMCC members unparalleled benefits of an advance commercial payment solution, offering flexible savings and financial solutions. Other services offered by the partnership include convenient ways to pay for DMCC fees and other charges online or at designated counters. The credit card also offers flexible payment options, enabling corporations to convert DMCC fees and related charges into 3, 6 or 12 instalments at a zero per cent interest rate.
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Speaking at the launch, Gautam Sashittal, CEO, DMCC, said: “DMCC are delighted to partner with Emirates NBD to be the first Free Zone in the region to provide our over 9,900 members with a corporate card which offers attractive payment solutions and services tailor-made to the needs of their businesses. It is important to DMCC that we continue to grow the portfolio of products and services available to the businesses based in our Free Zone ranging from exclusive health insurance products to our single family office license offering, corporate governance initiatives, and knowledge series events through to the Emirates NBD DMCC corporate card launched today. We anticipate a high level of adoption of this latest service.” The launch of the co-branded card is predicated on Emirates NBD’s strong belief that the growing importance of Free Zones in the UAE would lead to strong demand for comprehensive commercial payment solutions tailor-made for SMEs within Free Zone jurisdictions. According to a report by Economic Intelligence Unit (EIU), the commercial card opportunity in the UAE was valued at US$ 16billion in 2013, of which only five per cent was paid using any form of commercial card. Commenting on the partnership, Shayne Nelson, group chief executive officer, Emirates NBD, said: “We are delighted to be joining hands with DMCC to launch the first ever commercial card co-branded with a free zone
here in the Middle East. The lack of comprehensive commercial payment solutions, combined with our ability to offer tailormade financial solutions, makes us believe that this partnership is set to revolutionise commercial card programmes not only in the UAE but also the wider Middle East.” “Furthermore, we are confident that Emirates NBD’s strong position as a leading bank in the region, combined with DMCC’s stature as a globally reputed Free Zone, will provide further impetus to make this partnership a great success,” Nelson added. Other attractive offers on the corporate card include a reward programme, which enables customers to earn up to two Plus Points on all the corporate spends. The Plus Points can be redeemed for gift vouchers from popular merchants, frequent flyer miles from leading airlines, or Cash Back. Cardholders can also participate in Emirates NBD’s flagship dining programme, Bon Appétit, which offers them exciting discounts at over 1,800 restaurants across the UAE, Middle East and Europe. Speaking about the new product offering, Eyad Al-Kourdi, Country Head – UAE, MasterCard, said: “Commercial payment solutions continue to be a key area of focus for MasterCard. There are multiple benefits of cash displacement for all organisations, whether large corporations or SMEs, including convenience, increased security and significant cost savings.
February - March 2015
Intelligent SME
Get Informed
Why UAE needs more platforms like Endeavor?
A
lready recognized as an economy being powered by a thriving entrepreneurial engine, the UAE is enjoying international recognition for a number of its home-grown success stories. Endeavor UAE, the local affiliate of Endeavor, an innovative and effective global non-profit organization is on a mission to catalyse long-term economic growth by accelerating high-impact entrepreneurs. Established in 1997, Endeavor has successfully pioneered a program that identifies, mentors and supports successful entrepreneurs in taking their businesses to the next level – whether to scale up, exit or undergo an IPO. Focused mainly on emerging markets around the world, the Endeavor process is facilitated through a global network of board members and mentors contributing a collective depth of expertise, experience and business success for Endeavor Entrepreneurs. This is unmatched by any single corporate entity in the world. The organization now supports 1,051 entrepreneurs from 666 companies across the 22 markets where it is in operation. Significantly, since the organization was founded Endeavor Entrepreneurs have created more than 400,000 high quality jobs, and in 2013 alone, generated USD6.8 billion in revenues. Although established only a year ago, Endeavor UAE is already growing a network of internationally recognized entrepreneurs, most recently announcing the successful selection of two of its nominated UAE entrepreneurial ventures at the latest Endeavor International Selection Panel (ISP) held in Singapore in February 2015. Ayman Fakoussa and Dipesh Depala, co-founders of luxury PR marketing and event management agency The Qode and Idriss Al Rifai, co-founder of MENA360, an innovative last-mile delivery solutions provider in the region’s
fast growing e-commerce space, demonstrated the high-impact entrepreneurial success sought by Endeavor. These latest candidates bring Endeavor UAE’s portfolio to 10 entrepreneurs successfully selected in its first year of operation. “Our role at Endeavor UAE is to select those entrepreneurs in our market who can hold their own against other top entrepreneurial business owners from around the world. We are delighted that in the first ISP of the year, we have had two companies selected – it’s an excellent indicator of the quality of entrepreneurial talent in the UAE,” said Muna Al Gurg, Board Member, Endeavor UAE. “We hope to continue finding the UAE’s most high-impact, highgrowth businesses and empowering them to build ecosystems of
entrepreneurship that have the power to move economies and create jobs.” Having been selected into the Endeavor network, the latest UAE entrepreneurs are given access to customized services, including access to local and international business leaders who will mentor and help entrepreneurs build their future strategy and address key business needs. The entrepreneurs are also connected to externs from Fortune 500 consulting firms, world-class talent, education and investors as part of a business roadmap designed by Endeavor and its mentors. The 10 entrepreneurs supported by Endeavor in the UAE are from 6 companies in a broad range of sectors, and include: Michael Lahyani from Propertyfinder.ae, Mona Ataya from Mumzworld, Ravi Bhusari, Derv Rao, and Brian Sigafoos from Duplays, Shariarh Khodjasteh and Shahin Khodjasteh from Dubai Desert Extreme (DDE); Ayman Fakoussa and Dipesh Depala from The Qode and Idriss Al Rifai from MENA360.
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February - March 2015
Intelligent SME
Business Announcements
Emirates NBD takes ATM user experience up a notch
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mirates NBD and NCR Corporation (the global leader in consumer transaction technologies) jointly announced that Emirates NBD Group has become the first in the Middle East region to successfully introduce NCR’s Consumer Experience Banking (CxBanking) software APTRA™ Activate. The solution, which went live this month, runs on Windows 7 and helps Emirates NBD’s ATM network offer consumers in the UAE an innovative ATM experience, as well as safe, secure, and integrated transactions. “NCR has proven to be a strategic partner for Emirates NBD. Our association with NCR has helped us implement sophisticated technology, which has been adopted for the first time in the Middle East, and will drive customer engagement to new levels,” said Ali Sajwani,
group chief information officer, Emirates NBD. NCR has implemented the APTRA Activate multi-channel platform to empower Emirates NBD’s customers to perform transactions beyond cash withdrawals and deliver more sophisticated functions, such as giving customers full access to all banking portfolios, remittances to India and Philippines or through Western Union, IPO subscriptions, statement printing, foreign currency exchange and many more. Emirates NBD Group is the first financial institution in the Middle East to deploy this solution, which also enables an improved customer experience, similar to a mobile phone or tablet. “By deploying this innovative ATM Experience Platform, we aim to cater to the increasing expectations of our customers and reinvent the role of ATMs in the fast changing omni-channel world that we live in. In addition to some exclusive services already available our customers, we have included free AED local bank
transfers and our market leading remittance service ‘DirectRemit’ to India through which our customers can send money in 60 seconds,” commented Suvo Sarkar, general manager, retail banking and wealth management, Emirates NBD. The APTRA Activate multi-channel implementation will also allow the bank to easily and quickly introduce extensive software innovations in the future like the contactless EMV ATM transactions, cash recycling, biometrics, as well as document scanning. “Today’s consumers have high expectations when it comes to interacting with financial institutions. Not only do they demand intuitive and striking interfaces, but they also expect to be able to access the entire range of financial transactions and services they need, when and where they want,” said George Flouros, vice president for NCR Financial Services in the Middle East/ Africa region. “Through these new software platforms, Emirates NBD will be able to deliver exceptional customer experience as well as optimize costs by integrating and sharing common resources across channels.”
Shuaa Capital acquires Dh500m loan to fund UAE’s SMEs
S
huaa Capital, Dubai’s oldest investment bank, recently declared that it has obtained a Dh500 million syndicated loan to fund lending to small and mediumsized enterprises (SMEs) whose growth policymakers have urged over the past year, said a report in The National. According to the press release, the loan-which has a tenure of 42 months and includes a Dh50m standby letter of credit- was made to Shuaa’s fully owned SME financing subsidiary, Gulf Finance
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Corporation (GFC). Abu Dhabi Commercial Bank was the chief arranger of the loan. “The Dh500m facility provides a stable long-term source of funding for Gulf Finance to meet its objectives of providing growth finance for entrepreneurs and small and micro businesses,” said Sheikh Maktoum Hasher Al Maktoum, executive chairman of Shuaa and chairman of GFC. “It reflects the improved financial position of GFC, one of the longestestablished lenders to the SME
sector in the UAE, and the Shuaa Group overall. This is an important milestone for Gulf Finance’s future expansion, and the overall earnings power of the group.” Shuaa’s lending to SMEs in the Emirates and Saudi Arabia has boomed in recent years as it focuses on generating revenue from lending after a restructuring that closed down its retail brokerage division in 2011, at a time when there was a drought of initial public offerings and thin trading volume.
February - March 2015
Intelligent SME
Business Announcements Shuaa said in its third quarter results for 2014 that its lending division posted a 150.5 per cent increase in profit to Dh9.7m, driven by an increase in demand for funding from SME businesses in the UAE and Saudi Arabia. It also said GFC opened an office in the Musaffahindustrial zone in October, its second in Abu Dhabi to tap into demand from wellestablished companies and startups in the area. More than 65 per cent of SMEs in Abu Dhabi are located in Musaffah according to Shuaa. UAE government officials have been counting on small businesses to play a key role in the development of the economy. SMEs account for 86 per cent
of the workforce in the private sector, according to the Ministry of Economy. And 300,000 companies can be classified as part of the SME sector, ministry data shows. GGICO to introduce budget flats at Dubai Sports City GGICO's Properties arms has announced the launch of a new budget property development in Dubai Sports City. The firm said that the freehold complex, Grand Horizon Apartments, is due to complete in April. Units will range in size from 825-1,150 square feet, and the building offers a range of amenities including a pool, gym, sauna and steam room facilities. Prices at the development will start from AED799, 846 ($217,775)
and follows the sell-out of two recent projects. Andrew Chambers, CEO of GGICO Properties, said: "We are anticipating a strong response following the launch of Grand Horizon Apartments’ sales, based on Dubai Sports City being home to an ever-expanding community of individuals and families who place high value on residing in a development with comprehensive amenities that create a rewarding lifestyle. "Dubai Sports City has built a reputation for having great infrastructure and numerous facilities, all of which add up to a superior standard of affordable living,” he said.
DED records 13% jump in licences for 2014
T
he Department of Economic Development (DED) in Dubai saw an increase of 13% in the number of business licences issued in 2014 as optimism prevailed on the domestic economic front and investors continued to pursue new opportunities across various industry sectors. The total number of licences increased to 21,358 in 2014 as against 18,848 in 2013 with industrial licences showing the biggest increase (27%) followed by commercial and tourism licences at 16% each and professional licences at five per cent. The strategic guidance provided by Dubai’s leadership in stimulating diversification and removing barriers for entrepreneurs and investors in vital sectors is contributing to accelerated economic development. The latest figures on business
licensing proves the investor focus on Dubai and the regional and global competitiveness of the emirate. The Business Registration and Licensing sector aims to consolidate and enhance the sustainability of economic development in Dubai through targeted initiatives and the application of best practices, such as ease of starting and doing business. DED’s report on 2014 shows the number of amended licences reached 85,548 in 2014 compared to 74,859 in 2013, an increase of 14%, while the total licences renewed increased four per cent to reach 118,953 from 114,218 during the same period. The number of total transactions completed in 2014 was 577,400. The number of reserved trade names in 2014 was 83,599, an increase of 12% over the 74,750 names reserved in 2013, while initial approvals increased 14% from the previous year and reached 38,580. In terms of licences classified under the legal form, Limited Liability Companies (LLC)
accounted 14,701 of the licences in 2014 compared to 12,549 in 2013, a growth rate of 17%. Sole proprietorship licences rose six per cent, from 5,375 in 2013 to 5,090 in 2014. Licences issued to branches of free zone companies in 2014 showed 129% increase - from 45 in 2013 to 103 in 2014 - while number of private shareholding companies increased by 43%, public shareholding companies by 36% and branches of foreign companies licensed increased 15%. LLCs accounted for 67% of the total licences issued in 2014 followed by Sole Proprietorship Companies (27%) and Civil Works companies (4%). The top ten among activities licensed accounted for 15,383 licences in 2014 with an increase of 24% compared to 14,484 licences in 2013. Sector-wise, General Trade (2,664 licences) led the list of top 10 activities licensed in 2014 compared to 2,293 licences in 2013, a growth of 11% followed by dyes and paints (1,638 licences in 2014 as against 1,594 in 2013) and tiling of floors and walls (1,620) licences in 2014 compared to 1,526 licences in 2013, a growth of 6%.
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February - March 2015
Intelligent SME
Success Story
A game-changing hub for SMEs 18
February - March 2015
Intelligent SME
Success Story
What brings Streit Group from Canada and more than 8000 companies covering 50 diverse industry verticals to RAK Free Trade Zone? For starters, it consists of both a free zone, where 100 per cent foreign ownership is allowed and, secondly, world-class infrastructure and connectivity. As the business precinct bags the honour of being the ‘top global freezone for SMEs,’ the Intelligent SME team spoke to the CEO, Peter Fort, to understand the value-added services offered for entrepreneurs, what components strengthened their global reach and the development policies that have earned deep investor confidence. Below is the condensed and edited version of the interview: ISME: To begin with, which business sectors in Ras Al Khaimah, especially RAK FTZ, have gathered momentum and performed well over the past three years? Could you brief us what factors have facilitated this upswing?
PF: The reasons for the upswing in
business are multifold. First, there has been an increase in the level of real estate development and infrastructure as increased rents in Dubai have driven more people to live in Ras Al Khaimah, where the cost of housing can be as low as one-third of that in Dubai. Second, the tourism industry has seen a large uptick as new hotels such as the Waldorf Astoria Ras Al Khaimah and Rixos Bab Al Bahr, among others, have nearly doubled the hotel rooms in the emirate from 3,000 to 5,000. Of course, the traditional hub of industrial manufacturing in RAK remains strong and continues to grow. RAK Ceramics is the largest ceramics manufacturer in the world, Julphar Pharmaceuticals is the largest pharmaceutical supplier in the Middle East, and Streit Security – a RAK FTZ client – is the largest armoured car manufacturer in the world. Earlier this year, Streit signed a land lease that will increase the size of its facilities by three times to 4.5 million square feet, which is roughly the size of 60 football fields. Streit is at the heart of the armoured vehicle industry cluster in RAK, which has as many as 10 different companies in it so far and continues to grow.
ISME: Currently, what is RAK FTZ’s contribution to the emirate’s GDP? What is your growth forecast for the freezone over the next year?
PF: RAK FTZ is a significant
contributor to Ras Al Khaimah’s GDP, which over the last three years has been higher than that of the UAE overall. We expect to have continued growth over the next year. As our client base increases, we are building new facilities to accommodate new businesses. For example, we are building 100 new warehouses in our Technology Park for companies that do trading and light manufacturing, and we will construct an office tower in the Business Park that will accommodate 700 new clients.
ISME: If Ras Al Khaimah was
compared to a luxury car, RAK FTZ would certainly be the engine – effectively a well-run machine driving business in the emirate. However, all cars require constant upgrading and tweaking of the system over the years to make sure the product remains a premium brand that continues to attract customers. Following the same train of thought-what systems/ processes have been applied to develop the free zone further? Could you please share some examples?
PF: Like a finely tuned engine
that provides both power and fuel efficiency, we offer premium facilities and top-level company set-up support services to help entrepreneurs succeed, without
gouging our clients. We help them start their businesses and grow their companies by giving them everything they need in our onestop shop, without leaving the building. Clients can apply for their Emirates IDs, get documents notarised, and pay for free zone services without a credit card, making it a lot more convenient for them to set up a business. Instead of spending a lot of time running from place to place to get the documents they need, they can spend more time turning a healthy profit for their companies.
ISME: Recently, you bagged the title
of ‘Top Global Freezone for SMEs’what would you characterise as the secret ingredient/inspiration that helped you in achieving this success?
PF: Our “secret ingredient” for
helping SMEs succeed is service. We make it as easy as possible to establish a business, helping them get licensing, registration, and visas very quickly and easily. We also give our clients the option to build accommodation for their workers onsite. This prevents workers from having to use labour transportation at the company’s risk and expense. Clients can also hire workers from anywhere around the world. Additionally, we have a wide range of facilities that will suit every investor’s needs across four free zone parks, including: • Business Park for office clients • Industrial Park for heavy manufacturing • Technology Park for trading
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Success Story and light manufacturing • Academic Zone for educational institutions We are particularly keen on helping SMEs get started in our flexi-facilities designed under the incubator concept. These facilities include networked work stations that allow business owners to share computers, phones and desks with low overhead costs. As they grow, companies can avail themselves of larger executive offices, ready-made warehouses and even land for lease to build their own facilities. We make it as easy as possible to start and grow a business, from the ground up.
ISME: In addition, what
characteristics differentiates RAK FTZ from the rest? Simply put, why do you believe an SME, or, multinational should choose you as a business facilitator and not others? Please elaborate.
PF: One of the biggest factors
that differentiates us from other free zones is our location. We are ideally located right in the middle of some very dynamic and rapidly growing global markets. This location makes it easy for clients to access customers in the Middle East, Africa, South Asia and Europe. We also provide other advantages such as complete freedom from taxes, and while we offer many of the same services and facilities as other free zones, we do so at substantially lower cost, which allows clients to get the largest return on their investment.
ISME: What would you define as
challenges for RAK FTZ? What steps have been taken to overcome these hurdles?
PF: We are working hard to
overcome the perception that RAK is far away from Dubai and other emirates, and that we are simply a manufacturing hub. We are actually less than an hour’s drive away from Dubai, allowing a diverse mix of companies to operate as easily from here as if they were in Dubai. The main difference is that companies can do this for significantly less money, when you consider the lower cost of renting facilities and the lower licensing and registration costs.
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Success Story As inflation has increased across the UAE, the costs in Ras Al Khaimah have remained significantly lower. This directly impacts the cost of doing business, and therefore has a major impact not only on profitability, but also on the very real prospect of whether or not a business succeeds.
ISME: Do you have any initiative
that engages directly with the local entrepreneurial community?
PF: Our promotional offices in
Dubai and Abu Dhabi make it easier for investors to access our company set-up services from anywhere across the UAE. The RAK FTZ Promotion Centres in Dubai are located in the Fairmont Hotel on Sheikh Zayed Road, and at Festival Tower in Dubai Festival City. In Abu Dhabi, we have a promotion centre in Abu Dhabi Mall. The services that are available in the promotion centres include governmental services such as visas, RAK Chamber of Commerce certificates, official letters, and no-objection certificates. Other service offerings in the promotional centres include arranging the visa medical test, along with other matters related to government services. In the promotion centres, clients can also renew and amend licences, request new visas, as well as visa requests, transfers, cancellations, NOC letters, and other documents.
ISME: Any advice you would like to
give to the young entrepreneurs based on your personal experiences?
PF: I would urge young
entrepreneurs who want to open
services to help get your business off the ground.
One of the biggest factors that differentiates us from other free zones is our location. We are ideally located right in the middle of some very dynamic and rapidly growing global markets. This location makes it easy for clients to access customers in the Middle East, Africa, South Asia and Europe. a business in the UAE to make sure that they set up in a free zone. Here, outside of a free zone, investors must partner with a UAE National, who will own 51 per cent of the business. However, in a free zone, investors can own 100 per cent of their business, rather than just 49 per cent. Additionally, in a free zone, you have readymade facilities and set-up support
ISME: As we sign off, let’s get to
know the legacy you have planned. It’s the year 2040, how do you see RAK FTZ and what do you see yourself doing?
PF: The year 2040 is a very long
time from now. Twenty-five years is beyond our projections at this point. That said, our immediate focus is expanding into the service and educational industries. When Sheikh Khalifa Specialist Hospital – Ras Al Khaimah, the largest specialist hospital in the Middle East, opens later this year, this will also create opportunities for us in the health sector. Additionally, we plan to create a hub for back-office services including accounting, order fulfilment, call centre support, IT and HR. In the UAE, many of these back-office services are in the city centres, where rents are usually highest. However, we can provide facilities in RAK where companies can provide these services at a lower cost, which can allow businesses to save a lot of money. Finally, we will be enhancing our Academic Zone as a hub of educational institutions, including not only university branches but also vocational schools for the emerging healthcare and hospitality industries in RAK. Catering schools, nursing schools, labs and other facilities can prepare workers to take jobs that will be available very soon in these growing sectors, and this will benefit Ras Al Khaimah’s economy in the long run.
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Meet the CEO
A leading light He began his entrepreneurial journey with a ticket to Oman and 50 rupees in his pocket (approximately 3 dirhams in today’s context). Building palaces and architectural marvels, he established a company that transformed the way quality was perceived in the real estate business. He is PNC Menon, chairman and founder of Sobha Group. Gracing the Emirates NBD Global Business Series, Mr. Menon rode back in time to share his journey from being an inexperienced, young entrepreneur in 1976 to a business magnate worth one billion dollar real estate fortune by 2014. Today, his buildings stand tall across UAE, Bahrain, Qatar, Oman, Tanzania, Brunei and India. Had Menon rubbed an Aladdin’s lamp to earn a fortune of magnanimous scale? Not really. He worked with a positive passion to make a huge difference in the real estate sector, which were armed with grand plans, vision and strategies. Following is the edited transcript of his pearls of wisdom.
TQ: What’s your fascination with
is necessary to keep them happy by going the extra mile.
PM: It isn’t a fascination but an evolution. My beginning was small and it began in a photo studio. Over the years, I mastered the art of building an infrastructure. Designing a palace is a dream job and gives rise to fierce competition worldwide. Generally, designing homes is a part of repertoire, however they can be categorized as palatial homes and offices.
TQ: You had a humble beginningstarted from scratch and have reached the pinnacle. For this, you must be working 24 hours each day. When did you have time for the family?
decorating palaces?
TQ: It is a wonderful moment when
a family comes together. As the head of this family what did you do right to have so many happy people?
PM: (laughs) Family is the most important thing in a person’s life. It 22
PM: I don’t socialize; hence I’ve got plenty of time to spend time with my family and grandchildren. TQ: What influence did your parents have on your life? Would you like to share some incidents of your life that shaped your belief?
PM: In the early 50s, my father owned a transport business, therefore I can say that I hail from a business background. My father’s
business was a case of rarity in the small town of Thrissur. I remember that my mother was mentally ill and remained in the mental hospital most of the time. I lost my father when I was 10, which left my life in disarray. The business crashed, leaving a 15-year-old to take care of the family.
TQ: What kept you going? Was
education or working important to you at that time?
PM: I have always been driven by ambition. Due to my ambitious aspirations, I dropped out of the university. Even today, I ponder over what can be done for the next 15 years. Ambition has played a pivotal role in my evolution. I can say that ambition is an intrinsic
February - March 2015
Intelligent SME
Meet the CEO
PNC Menon Chairman and Founder of Sobha Group 23
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Intelligent SME
Meet the CEO ingredient required for success.
TQ: What drives you? Wouldn’t lot of people want to know how to capture that spark and jump out of bed every morning?
PM: There are certain days when I refuse to do so but I question myself and say, “You better get up and go”. Also, there are so many things to achieve which push you to do the impossible. TQ: When you close your eyes and go down the memory lane, what do you see? What inspired you and motivated you when you were young?
PM: My memories are tainted with struggle. I come from a successful business breed, but practically ended up losing everything. Later, I was left with only ambition and exploration of different directions. However, I knew I wanted to be a businessman. TQ: You came here from Oman.
Can you tell us how you set up your business? Everybody here is curious to know how did you build your companies brick by brick?
PM: I met an Omani gentleman
named Captain Sulaiman Al Adabi, who had arrived in Kochi, Kerala, India, to buy a fishing boat. During our circumstantial encounters, he inquired about my work. I mentioned my small interior business. He invited me to come to Oman as their economy was booming and there were lots of opportunities sprouting. I decided to do so as I had nothing to lose. Within 3 months, I received my passport and flew to Oman. I never dreamt of going abroad, but nurtured a dream of setting shop in India. Al Adabi received me at the airport and took me to his house, after detouring to his office. He confessed being broke, but questioned about the minimum capital needed. Thereafter, we borrowed OMR 3000 from a bank. I saved the incoming profit which was channeled back into the business as capital and helped build a decent infrastructure.
TQ: Is that a secret ingredient to build a business?
PM: Capital is very critical to the 24
development and advancement of an enterprise. Capital and infrastructure are two elementary needs of an enterprise. Within 7 years, I built one of the most beautiful factories in Oman.
TQ: What was the collateral of
borrowing OMR 3000? What was the risk undertaken?
PM: There was no risk. There was nothing to lose, ergo no risk undertaken. The challenge of building a business isn’t a cakewalk when you have no money. Especially, when you are trying to adapt to a new environment in a foreign country that envelopes a varied background. TQ: When you were doing business
in the 1960s, was it difficult then or simpler to outdo cut-throat competition?
PM: You need to have the mental and physical fortitude to steamroll your ideas and achieve the impossible. For instance, I have already planned for the next 15 years as there are a lot of opportunities still awaiting to be charted and tapped. The anatomy of a businessman exhibits the strength to always find and create opportunities for himself, whether
it is today or tomorrow.
TQ: How did you reach your first million dollar marquee?
PM: I founded my business in 1976 and it was operating full throttle by 1977. By 1984, I was worth a million dollars. It is a difficult task for a person to earn 1 million dollars, especially if you start with an unstable and a poor background. I was uneducated, had no regional or geographical grasp, no expertise in the field but a stranger in a foreign land. Couple these setbacks with the downfall of having zero capital, which equals to a strenuous journey. TQ: You got involved in the
construction and interior designing business, what drove you to it?
PM: A close friend owned a small scale interior designing business. I observed him working and aspired to start an entrepreneurial venture. So, I established a furniture business. On my first visit to Oman, I dropped by the Intercontinental hotel and observed the ceiling. I was mesmerized by the artistry exhibited. I had never seen such a spectacle. I tried to imbibe the art and bridge the gap between my understanding and
February - March 2015
Intelligent SME
Meet the CEO what I was exposed to.
TQ: What quality makes you stand out?
PM: I think you are born with a particular set of qualities. I don’t know whether an individual can develop qualities. I make sure anything I do is the best. This attribute cannot be termed as an egotistical approach. It is a requisite or a benchmark I like to meet in my business. I have tried to infuse and accommodate this quirk in all the countries that I have ventured into. In India, we are known to be one of the four top companies. Qualities are inborn, hence an individual has to work towards it if he seeks to master it.
I sent an Indian painter working with me to Germany with the aim of learning the art of gilding. He learnt the entire process within a week and returned to train a team of four. I requested the contractor if I can display my work in the palace and he shunned me again. However, when I was chosen to work in his house, I requested him again. He gave me a chance and stood with great astonishment in the end. That served as an entry point into the decorative part of the business. My tender
TQ: What is the criteria of 20-30 things you give priority to when building?
PM: In the construction industry, there are about 28 activities you have to watch over. The critical aspect is the wet service. When you commission a building, make sure the quality is heavy-duty. For me, the most important aspect are the wet services. I believe water is the enemy of the construction business and I put a lot of emphasis on wet services. It could be architectural, concrete, mechanical or plumbing problem that leads to leakage over a period of time.
TQ: You’re a hard negotiator and a number’s man-what’s your formula for planning a project?
PM: I like to differentiate business and social responsibility. Half of my wealth will be given away as charity. Now, when you’re giving a sizeable portion of your hard-earned money, you become extremely careful about your strategic decisions. Generally, it doesn’t take more than ten minutes to understand whether a proposition makes business sense or not. TQ: You walk around with a calculator in your pocket!
PM: Yes, I do. The only time I leave the calculator is when I go to sleep. (Laughs). Everything is a number in life. Your time is a number, weight is a number, height is a number, quantity is a number, length is a number, width is a number, lifespan is a number, and, in-short, everything in life is full of numbers. My personal belief is that unless you’re very good in numbers, it’s very difficult to understand business.
TQ: Let’s talk about your first project and the scaling of your empire?
TQ: What about other things like
PM: I was decorating a palace
which was a dream project for me. The palace displayed gilded plaster of paris artistry. In the past, European decorators were preferred to perform gilding. I was in charge of crafting the plaster of paris and a German team supervised the gilding. I had an urge of learning the same art. I asked if I could try gilding. The owner said this work was not meant for an Indian and the conversation ended with a hearty laugh. He also informed me that gilding is primarily done by the Europeans due to their history in accomplishing such tasks. The German team was headed by a woman named Angela, who refused to partner with my company on the account of zero value addition.
quotations were half the price to what Angela had quoted. And this move got me the job, which I completed before the set schedule. After accomplishing two contracts, Angela put forth her intent to partner and I refused saying there was no value addition.
innovation, brand building, etc.?
You need to have the mental and physical fortitude to steamroll your ideas and achieve the impossible.
PM: One of the biggest requirements for success is thinking out of the box, i.e., being creative in your approach. One of the biggest challenges for us is finding managers with a creative mind. In an organization of our scale, all the decisions cannot be taken at the highest level, it has to percolate for the pyramid to work effectively. TQ: A lot of numbers that you see on a balance sheet are historical. They do give you an indication, but don’t really tell you about your future…
PM:
Numbers help you in planning your future. Of course, there are other things that
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Meet the CEO influence your strategy for a product or a service, but statistics play a major role is decision making. Yet again, the vision is never from the statistics, it’s betting on your gut feeling! When I picked up the piece of land where Sobha Hartland is being developed, which is approximately 183 acres, the real estate business in the country was completely battered. Back then, it was considered a foolish decision by market evaluators. It was my gut feeling that this country cannot go down any further and Dubai will definitely make a strong comeback. So, I would contribute those decisions to my gut feeling. The creative ability or the ability to understand the business without the support of numbers.
TQ: A lot of people couldn’t visualize this in 2008…
PM: During the recession, people followed the herd mentality. What separates wheat from the chaff is the decisions taken during crisis. TQ: We have spoken a lot about your success, would you like to share some of your failures?
PM: I had a friend of mine-stylish
and packed with impressive knowledge in the technology domain. I invested approximately 100 million dollars into a joint business in the segment of his expertise. Moreover, I lacked the know-how of this business turf. In India, people celebrate a temple festival where they light fireworks that spike up in the sky, glitter for a while and everything comes down crumbling within few seconds in a loud whoooshhhh! This business met with the same fate.
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TQ: What are the key characteristics or the attributes you look for while hiring employees? PM: I have a bad reputation is selecting candidates. Most of the candidates selected by me end up losing their jobs within three months of joining. Finding the right candidates is a task that I am yet to master. TQ: In the real estate space, market men are predicting that 30-35% massive price correction is on the cards. Your views.
PM: When the real estate sector crashed in 2008, people were predicting that Dubai would bounce back after 30 years. Such analysis holds no value. I know one thing: Dubai is a sustainable city and the real estate segment is a sustainable investment model.
I wish the medical science advances for me to live that day! I would want to give 25,000 children good education and an established career.
It garnered more of bad publicity, which was exaggerated in the media. The country has never witnessed a single default. People expect the emirate to default, but it has never happened. The whole world went through a spin in 2008. Nobody talked about any other place than Dubai, where the western media and the press only focused on the emirate. If you really ask what happened to Greece, Spain and Italy post 2008, you will have no answer. These countries too went through a bad patch during the said period.
TQ: Do you do things beyond your capacity and get out of your comfort zone?
PM: I’m not a social person, but
an early bird. I brainstorm about my business, hence 90% of my time is spent on analyzing and conceptualizing. It is not necessary that I need to be in the office or be seated at the table. It can be anywhere, at any time.
TQ: Most successful people visualize things, do you?
PM: Yes, I do. It is typical for a businessman to visualize. Also, this characteristic rounds off into an elementary key to success. TQ: As we sign off, let’s get to know
the legacy you have planned. It’s the year 2048, i.e, you 100th birthday, how do you see Sobha Group, what do you see yourself doing?
PM: I wish the medical science advances for me to live that day! I would want to give 25,000 children good education and an established career.
February - March 2015
Intelligent SME
From the Entrepreneur
A brief chat with
the CEO of Panache International A Japanese word meaning continuous improvement, ‘kaizen’, is a main ingredient in Panache International’s business model and a key to its success, the company says. The leading manufacturers of disposable products optimize flow and quality by constantly searching for ways to streamline and enhance performance. Put more simply, it is about thinking outside the box and making small changes to generate big results.
E
stablished in 2005 across UAE, the company has now expanded strategic footprints across 14 countries in the GCC, Africa, Europe, Australia, Pakistan, Russia, Nigeria, Tanzania, Libya, Ghana, Angola, Sudan, Ethiopia, Madagascar and South Africa. So, what factors helped the company in translating an inspiration into a sustainable business? In a candid chat with the Intelligent SME, Vishaal Shah CEO of the firm, concludes that uncompromising product quality, being as efficient as possible and consistent innovation have been their drivers for success. Below is the condensed and edited version of the interview:
ISME: Could you take us through
Panache International’s beginning in the Middle East?
VS: Our firm was established in 2005,
with the production unit set up in Fujairah (UAE) to manufacture cups and plates for the UK market. On a trial basis, the first batch of production was sold locally before exporting to other countries. The product was a success in the local market as Panache was the first in the region to make polypropylene cups. This success led the business strategy shift to bothexport and local distribution too.
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From the Entrepreneur Q: Why did the company decide to set up a plant in the UAE? Is it because the country is considered to be a safe haven from geopolitical tensions?
VS: The firm was set up here
due to two main reasons: Firstly, the raw material used is locally produced in the region. It is a by-product of petroleum and thus gives us an advantage of pricing and shorter lead times on the materials. Secondly, the geography of UAE being centric to all countries made it much easier to operate and export globally, with efficient logistics and port services.
Q: What range of plastic goods do
you manufacture, and which of these has the highest value?
VS: We manufacture cups,
plates, container, trays as well as customized cups and containers for the ice cream and dairy industry. For us, the customized cups give us the highest value due to continuous consumption and value addition.
forecast is 60% and above annually.
Q: Besides the Middle East, which are your key export markets?
VS: Besides the Middle East, our
key exports are in the UK as well as North and East Africa and our volumes with each of these regions have doubled annually with more product penetration and brand loyalty.
Q: What would you characterize as a proud achievement?
VS: We have grown from 30 to 160 people team in last 3 years with four times production capacities as well as product penetration in more than 27 countries across the globe. We are proud of achieving this feat! And yes, this just the beginning of much more to come. Q: If you had to define one quality
that separates you from the rest, what would that be? How do you tackle competition?
Q: Who are your major clients? At
what rate is growth expected in this specialized sector?
VS: Our major clients are in
the dairy industry and food distribution channel. Our growth
To become successful in manufacturing business, the key is being lean and flexible.
VS: Customer focus and customer delivery are two things that puts us apart from the rest. It's not only that our production operates 24hours, 7days, 365 days a year, but our support teams also action and operate in that manner to facilitate our clients’ needs.
Q: You follow the KAIZEN
manufacturing system-How helpful is this mechanism, or, technique in increasing productivity and making your products globally competitive? Please elaborate.
VS: Kaizen in Japanese means continuous improvement. All of us have engineered the culture in our DNA, which includes the boy serving coffee, the driver delivering the products and even the machine operators. Every single person endeavours to improvise the execution and the end product of the tasks assigned. And that in itself brings benefits of efficiencies, low cost of production and high quality of products. When we pass these benefits to our customers, we become their preferred suppliers. Q: What kind of sales numbers
have you registered in the past one year? What is your vision you going forward?
VS: We have crossed the 13million USD mark last year, and we target to achieve 50 million USD in 2020. That's a stipulated growth of over 25% every year.
Q: Tips you would like to give a
young manufacturing company trying to establish itself in the region?
VS: To become successful in
manufacturing business, the key is being lean and flexible. The leaner your organization is, the more quickly it will be able to adjust to the consumers changing behaviours and the markets which will keep you ahead of the game. 1. Ensure cash is always there in the business. Keep inventory to the lowest possible in terms of number of days and value. 2. Consider the major inputs of costs in your business model such as energy, labour, space and logistics. UAE is not the cheapest when it comes to space and labour, but it has an upper hand when it comes to logistics and energy costs.
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Corporate Governance
Angels or demons? Strong companies have strong cultures, each infused with their unique individualistic flavour. Cultural behavior is a fundamental aspect that aides a company to grow, sustain and win in the long run. Thus, building a conducive culture within the halls of an office can ensure increased benefits. Mark Fisher tells us how.
M
uch is written about 'corporate culture', encompassing everything from the way managers treat their employees to how staff behave towards each other and customers, as well as a host of company customs and practices. Corporate culture is about the way a business thinks, feels and acts. Almost all commentaries on the subject look at corporate culture in large companies; yet it is often much more relevant to SMEs, which are small enough for one dominant person's behaviour, or a single department's ingrained outlook, to affect the whole business. When asked about their corporate culture, many SME owners are inclined to reply 'er...I don't think we really have one'. They do, of course. They just haven't consciously thought about it. The positive or negative aspects of that culture can determine whether their company succeeds or dies. Below are five cultural issues that affect all SMEs.
Stay entrepreneurial: This seems obvious. All SMEs should be entrepreneurial by default. But many fall into complacency, getting stuck in a rut because customers seem satisfied and profits are high. They, then, lose the imagination and agility that are the greatest assets of an SME. Within a quick span of time they lose customers to 30
faster-thinking rivals and are too late to branch out into new lines of business. Every member of staff should be encouraged to think like an entrepreneur, always alert for new ideas. And their inspiration should come from following the example of those at the top.
Keep everyone in the know: Give as much relevant information as possible to your staff and your customers about what your business is doing, how and why.
All SMEs should be entrepreneurial by default. But many fall into complacency, getting stuck in a rut because customers seem satisfied and profits are high. They, then, lose the imagination and agility that are the greatest assets of an SME.
And seek their opinions and suggestions; they might even be good ones. Hold regular staff meetings. Almost everyone whom you treat in this way will like you for it and respond positively. If transparency and openness are part of your company's way of life, staff will stay motivated and you will retain customers.
Incentivise staff effectively: To
understand how large a problem this can be for SMEs, consider all the things that they cannot offer, compared to a large company. These include the kudos that comes from working for a well known brand; the advantage for their career of having a blue chip employer on their CV; and the possibility of internal moves where they will be working in a quite different environment, perhaps in an exciting position in another country. To compensate, SMEs should use the flexibility that they have to give employees as much control, freedom and variety as possible. That's probably what they joined an SME for in the first place. And keep an eye on what large companies are paying their staff, or expect to lose yours.
Get the hiring right: Unlike big-
name companies, SMEs tend not to receive industrial quantities of CVs from the best and brightest graduates and other candidates. No need to take this personally; it's
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Intelligent SME
Corporate Governance because they've heard of Microsoft, but not of your company. So SMEs need to have an especially proactive hiring culture. This can include giving bonuses to staff who introduce a talented employee, scouring LinkedIn for likely candidates, and contacting universities. And know how to 'sell' your company in an interview with a prospective employee who may have doubts about working for a business whose name might draw a blank look from everyone he knows.
Know what your mission is: Not
necessarily as in a company ‘mission statement’. These are often bland and formulaic, and staff tend
to forget what they even say. But you should be able to articulate in simple terms, to yourself and anyone else, the basic goals that your company has over various timescales. If you do not know what they are, your staff certainly will not. This will affect their performance in many different ways and they may overlook business opportunities, as they have no big picture view of what they are aiming at. Remember that your company’s culture infuses everything that it does. In business, the adage ‘bad culture drives out good’ is reversed. It is the companies with positive cultures that triumph over those that lack them.
Mark Fisher is Head of Corporate Communications at NASDAQ Dubai. He has worked as a solicitor in Hong Kong and the UK.
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Growth Strategies
Entrepreneurs, promise thyself Neil Petch advocates SMEs to learn the skill of prioritizing tasks by embracing a productive outlook. His philosophy goes: "if you want to be truly successful in business, balance is key. The trick is learning how to work smarter."
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Growth Strategies
Don’t forget accounting
T
he first step toward realizing your goals is to set them. New Year’s resolutions give you the opportunity to articulate those goals in writing. Most of the times, your desire for improvement and success may be either too ambitious or your planning inadequate, and, unknowingly, you end up setting yourselves for failure. So, how do you make sure that you follow through on the resolutions that matter? The ugly truth is that, by midJanuary, most New Year’s resolutions are broken. On the personal front, we know all too well how this goes: we get a brand new gym subscription, for a few mornings in early January we wake up at 6 am for that grueling spinning class before work, but soon enough, it’s getting harder and harder to crawl out of bed for another early morning workout, or make any time for it in general, because other things get in the way. On the business front, things can take a similar course. You all thought long and hard about the strategic steps you need to take this year, the milestones you need to hit, and about how to work more efficiently. But, the reality is that as soon as you’re inundated with dozens of emails and requests from customers that need to be dealt with immediately, everything else takes a back seat. When you’re running a small business, sticking to the New Year's resolutions that you've made for the company can be vital, and it can make all the difference between being still in business, or, closing shop by next year. To help you on the path towards betterment, here are the most vital resolutions to make and keep in 2015. You’ll be surprised how far these will take you!
First things first; housekeeping:
No, we don’t mean cleaning and dusting, of course. We mean paperwork. Nobody has time for paperwork, it’s tedious and time consuming. And, have you noticed that
all the paperwork is always urgent and required at the exact moment you have the least time for it? Well, when you’re running your business, you have no choice but deal with it. Sieve through that hefty stack of license and registration files, tenancy agreements, bank loan applications, all those forms that have been sitting on your desk for a good part of the year. Fill in and file all you can, and pencil in your calendar all key dates for license or visa renewals, or any big payments due - it will set you off for a smoother year.
Don’t forget accounting
Most small business owners I’ve met are excellent at creating great products and services, building strong teams and winning over customers. Many of them, however, would probably flunk basic bookkeeping. What do your accounts receivables look like? Are you invoicing and collecting payments on time? Are you paying your bills promptly? Not having a simple yet reliable accounting system which can show the state of your business finances at a glance is trouble in the making.
Make your life easier
There’s apps for that. Running a small business is hard work and managing the day-to-day work flow is critical to your existence. Today, there are dozens of apps available for mobile devices and PCs that can help you work more efficiently. Start with these three (bellow), then venture further and test the right apps to address other business requirements, especially those related to customers and suppliers.
Evernote (iOS / Windows
/ Android) allows you to make quickand-easy notes, about pretty much anything: business trip contacts, web pages and articles you’s like to mark, proposal outlines, etc., and works seamlessly across devices, from your smartphone to your desktop, just the way you work as well throughout the day.
Neil Petch is chairman of Virtuzone, one of the most dynamic and fastest growing company set-up operators in the region. Any.do / Cal (iOS / Android) helps you quickly and easily create and manage your to to-dos. But it’s not just a matter of writing them down. You can chunk your to-dos down into tasks that go into your calendar. This way you’re prioritizing your key tasks, plus your to-do lists and time allocation are in sync. Quip (iOS / Android) is a
very handy collaboration tool, when it comes to documents. When you’re on the go you need to be able to work on drafts and edits in real time, even when you're offline. The app allows to do that, keeping all team members involved up to date with all the changes.
Get on the Cloud
Data sharing and storage, CRM can be a huge issue for a small business owner, especially if you’re not an IT whiz. But you don’t need to purchase expensive software and systems to get around this. There are many inexpensive cloud-hosted options for small businesses that allow you to purchase the solution that is right for your business, it’s easy to scale as your business grows, while you’re also keeping up with the latest technology. And don’t worry, it’s so simple to understand and use that you can train your staff yourself. Your approach to your New Year’s resolutions should be ‘do it or toss it’: If something is essential to your business, you need to act upon immediately. No delays; no excuses. Anything that drags on gets in the way of your time allocation and attention for other important things. Learn to prioritize by embracing a productive outlook. You know how the saying goes...time is money!
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How are you? A strong mind can derive infallible results. Therefore, de-clutter your mind and re-program your inner self if increased productivity is what you seek, solicits Sachin Thombare.
I
am sure it was not very long ago that you met someone and they instantly popped the question - how are you? Not one to falter on speed, you instantly shot back a ‘fine and you?’ or ‘awesome’ or whatever it is that you often say on such similar occasions. That was that and you moved on to the next agenda. The truth being that the person asking you really did not mean to enquire about your state of being nor did they really care whatever your answer. Most people wouldn’t even notice if instead of ‘awesome’ you said something like ‘awful’ in the same tone and with that same customary smile on your face. The questions that really beg to be answered then are why do we even bother asking someone how they are and what purpose does it serve? The answers are simple if you do not think too much. The question is asked less as a question but more as a greeting and it servers the purpose of opening a conversation with someone.
The irony however is that this question which people ask almost mindlessly, without even wanting an answer is probably one of the most important questions anybody can ask!
‘How are you?’ is an invitation, a signal, a challenge! This is the question that can begin a very important enquiry and prompt you to become aware and take a trip inside yourself. Let me explain; how you respond to any situation in life depends predominantly on two things – A) Your state of mind at that moment B) Your inner programming (your beliefs, opinions, habitual
responses etc.)
Your state or how you are feeling at that moment is as important as what you believe in that moment. ‘You will do good if you feel good’ may sound like an over-simplification but holds true on most occasions in life. Whenever you are
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February - March 2015
Intelligent SME
Marketing not feeling good, even a seemingly small thing can ignite you like a fire cracker and on the other hand when you are feeling good, that same thing has no or little negative effect on you. Road rage for example is an absolute result of people feeling horrible. Have you ever noticed this about yourself?
What does it really mean to feel good?
How you feel in the morning could be very different from how you feel in the evening. For most people, the way they feel is decided by events, situations or other people and their reactions to them. Most people’s idea of feeling good is indulging in pleasurable activities. While this indulgence provides respite or pleasure, it is short lived. Feeling good in the long term comes from the inside rather than the outside. When it comes from the inside, it is of a much higher quality. There is an intrinsic base to how you feel which is determined by your opinion of yourself. If the base is solid then it is probable that you deal with events and negativities in a better way. Simply put – if you like and respect yourself then you are likely to feel good about yourself on most occasions. People who have a good opinion of themselves often handle stressful and challenging situations better than people whose opinion of themselves is not very good. Your opinion of yourself is a large component of your state at all times.
Does your state affect your productivity?
Your opinion of yourself determines your base or core state. This is different from feeling momentary pleasure or pain. Your core state in turn determines how you react to stimuli in your environment. People who have a healthy opinion of themselves are often better at handling challenging situations. There is therefore a fairly direct relationship between how you feel and how productive you can be. How to have a better opinion of oneself?
There are 5 simple ways to have a better opinion of yourself:
Be aware of negative selftalk. Persistently being
over critical or yourself is toxic. Constantly reprimanding yourself is not the path to betterment. Instead, accept your mistake, learn from it and work towards not repeating it.
Perfection is an illusion. Aim to do your best and give it your all. Feeling good
only if you are better than someone is a sure fire way to never really feel good. There will always be somebody better than you or worse than you.
Be respectful of your failures. You are valuable only because you fail and yet stand up and give it your best.
Taking yourself too seriously is bound to
create lot of stress and pressure. Learn to take yourself lightly and better still – to laugh at yourself.
Is it possible to make others feel good?
Making others feel good is possible and very essential for an organisation to be productive. Making someone feel good does not mean one has to pamper, mollycoddle or suck up to someone. There are two ways to contribute positively to someone’s opinion of themselves: Reprimand what they did. Do not reprimand them. Praise them and not just what they did. The next time someone throws a ‘How are you?’ at you, use the opportunity to become aware of your reality at that moment and give yourself the chance to treat yourself better. This is integral to being productive in the long term. Is it possible to make others feel good? Making others feel good is possible and very essential for an organisation to be productive. Making someone feel good does not mean one has to pamper,
Sachin Thombare is a hypnotist, a master practioner of Neuro Linguistic Programming and Gestalt therapy. He is the creator of the Subtle Skills™ training platform and trains corporate clientele on enhancement of human potential. Sachin is also an intervention based coach who specialises in turnaround strategies.
mollycoddle or suck up to someone. There are two ways to contribute positively to someone’s opinion of themselves: 1. Reprimand what they did. Do not reprimand them. 2. Praise them and not just what they did. The next time someone throws a ‘How are you?’ at you, use the opportunity to become aware of your reality at that moment and give yourself the chance to treat yourself better. This is integral to being productive in the long term. Are there slave drivers who make profits? Yes. There are many organisations where the stated culture and actual culture differs drastically. While their policies reflect humaneness, their actual culture is the exact opposite. Such organisations have survived and made profits too. They have however paid their costs in tangible and intangible ways. While tangible costs include paying more for employee turnover, training, legal expenses, misrepresentations, embezzlements and frauds to name a few. Intangible costs are heavy but take their toll over a longer period of time. Intangible costs include loss of opportunities when potentially value adding employees refuse to join because of the culture and a constantly unhappy and stressed out work environment. There are always at least two ways of doing something. The right way and the other way. Not everybody does it the right way and that would be too much to expect too. What do you chose to do?
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Look to improve
Sales and Marketing
8 Steps to make a team more effective Entrepreneurs often find themselves in a position where the business they so enjoyed creating becomes a ‘job’ and they have been enslaved to what they have constructed. In the process, they have become ‘the business’, which means that the business cannot run without their presence, writes Simon Hodges.
E
ven in businesses who have good employees, owners often do not feel confident that they can leave their operations for any time and when they do, they find themselves needing to be in constant touch by mobile or email with what’s going on back at the office. While the owner maybe convinced that there is no other way, the reality is that their team probably does not. More importantly the business has probably already reached a plateau of profitability because there is simply no extra time to do many of the things the owner would like to do to make more money or build their business further. Let’s, for a moment, examine this issue of time because this is what a business leader needs to create more of in order to implement any changes. In a business context, time and money are basically the same thing. However, time is a resource that is limited to the number of hours in a day but by making better use of your team it is possible to get a better return out of every hour that is expended. Set out below are 8 simple steps that can be taken to achieve this.
Delegate
Unfortunately, many business owners simply cannot get used to the idea of delegating and many have become accustomed to doing all the most important jobs personally, and the thought
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Taking yourself too seriously is a sure-fire way to create lot of stress and pressure. Learn to take yourself lightly and better still – to laugh at yourself. Is it possible to make others feel good? of trusting ‘what really needs to get done’ to another seems unthinkable. Yet to grow significantly the idea that delegating is impossible has to be overcome simply because of the limits in time that is available and in this regard seek out a mentor or coach to help you learn how to do it without losing control.
Objectively analyse your business in depth
Before delegating any tasks take time to stop, stand back and get a fresh perspective on what your business is actually doing. Finding out what your business is actually doing will not only reveal a lot of things that may have gone
unnoticed but may also enable you to make some very quick changes that will greatly improve the way your business functions. Again a mentor or coach will be able to assist you with this task.
Motivate your team members
Employees are more likely to stay motivated if they know what’s going on. So many business owners are secretive about their objective and only inform people when there is a perceived need to know. Turn that concept round and begin to put in place a regime where everybody is told what is going on unless there is a very good reason not to. Also, understand what the employees are looking for in their careers and ensure your plan helps them to progress.
Detail what each person does:
As part of the analysis of your business, detail what each person in your team does. This is more than simply getting a copy of everyone’s job description. As a business develops many of the tasks of any particular employee’s job most likely has evolved along the way, and many people may be straying (rightly or wrongly) into other aspects of what they are working on. What a person is actually doing as opposed to what they are supposed to be doing may surprise you in a good way, or a not so good way! Either way knowing what is going on is important!
February - March 2015
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Sales and Marketing Look to improve
Completing the analysis will enable the owner to make critical and informed judgements about what is working and what isn’t. For example it should identify: • Those tasks which are most time consuming, and why • Tasks that are most productive • Tasks which, if eliminated, may not make a difference to anyone • Tasks which cause the most stress • Tasks which are the most rewarding Once identified, use the input of your team to change the situation for the better. People doing a task will usually have a better insight on how to fix a problem than the owner.
Making it easy to do business with you
Making it easy to do business with you applies to all levels of a business but in particular the team must understand what are the most likely needs and problems of the customers so they know what to do and how to answer all the likely questions. Team members should also be encouraged to maintain the ‘right attitude’ and to understand that their objective is to present a positive, eager attitude. First impressions tend to be the most lasting impression. That’s why even the person who answers the phone or the person of first contact is so important. Doing the basic, simple things can be deceptively easy to forget so always make sure that your team understands that: • It’s impossible to provide too much service; • Team members should always be open, informative and
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approachable; • Team members should be obsessive about following-up with customers. • Team members constantly strive to ensure that the process of ordering and buying is super easy Recruitment and Training: Getting the right employees means hiring the best people from the start however, hiring good people is always tricky. Lots of people are adept at making themselves look good on paper, but you never know who you are getting until that person shows up and starts work. A systemised recruitment process that does not have to be reinvented every time someone new is recruited in keeping the business on track. Furthermore, employees need to know what they are supposed to be doing and how to do it. They need training and guidance. Successful business folks realise early that the best way to build a profitable business is by having the right people then training and treating them well, making sure they are happy in their work, and paying them a reasonable amount. It is an absolute fact that employees who are well looked after are more productive.
The exit strategy:
Every business owner should have an exit strategy. Why? Because in the process of making it ready to potentially sell streamlines the business; making it more efficient, systemised and with proper processes policies and procedures in place. One
Simon Hodges, CEO, Alchemy Network Middle East has recently launched the franchise network in the Middle East. Alchemy Network is a UK-based worldwide network of consultant partners, who work alongside owners and operators of SMEs to help bring them financial success, and eventually introduce them to systems that will relieve them from the mundane dayto-day running of the business,and allow them time to concentrate more on what they do best. definition of business is an entity that runs itself. Think about it. If the owner has to be in their business all the time for it to run, they probably don’t really have a business supported by a productive team – what they have is an organisation made up of a number of individuals.
February - March 2015
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Marketing
Do people value what you know? Subject matter knowledge spirals down to zilch if it’s inaccessible and has no audience. Creating value through expertise is the real deal and the only aspect that transforms an expert into a thought leader, advises PK Menon.
W
hether you work for a company or for yourself, as a subject matter expert you are known for your significant expertise in a given field. Perhaps you have studied for many years or gained your vast knowledge through experience. Most likely, you have acquired and refined your knowledge over many years doing both. No matter how you have built your expertise, people come to you for what you know. However, it’s one thing to know something, and quite another to be known for being an expert. Today’s new breed of successful Subject Matter Expert not only have outstanding expertise, but also know how to get his or her unique insights and ideas out into the market in a way that changes the game for others. The result is game changing for their own career as well. In a world where knowledge is literally at everyone’s fingertips, those who create the greatest value for others through their unique ‘out of the box’ ideas will achieve the greatest commercial success for themselves and the companies/ people they work for. Rewind back to when you went to high school or college. If you were like most people, you would have had some brilliant teachers and others who you considered mediocre at best. While the teachers who failed to inspire you may have been exceptionally
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knowledgeable at the subject they taught, they seemed to have little idea of how best to communicate their subject matter in a way that engaged their students. Anyone has the ability to know their stuff, but not everyone is capable of sharing their knowledge with others in a way that creates real value for them. This is the notion behind the rapidly growing global movement known as Thought Leadership.
Thought Leadership – a fad or the real deal? Leading thinkers have been around for centuries (notable examples include Albert Einstein, Marie Curie, Winston Churchill, Martin Luther King, Mozart and Stephen Hawking, to name just a few). Despite the digital era we live in today whereby one needs to only Google any topic to receive endless sources of information (from basic to academic) on the subject, the ideas and actions of leading thinkers can be as powerful today as they’ve ever been. The principle difference today is how those ideas are communicated and to whom. In other words, to be a force on the global stage today requires an ability to effectively capture, package and share ideas with those who you know will value (and pay good money for) what you know. Let’s look at a notable example of thought leadership in action.
Back in 1984, futurist Richard Saul Wurman observed a connection between technology, entertainment and design well before technology had advanced to the point where this would even be possible. Six years later, Wurman and partner Harry Marks launched the inaugural TED Conference to an audience that was now ready and indeed hungry for the innovative and exciting content delivered. It had taken the world six years to catch up to Wurman’s forward thinking ideas and he had the
February - March 2015
Intelligent SME
Marketing Prakash ‘PK’ Menon is one of the most influential leadership, retail and supply chain and logistics authorities. He is the author of three books – Driven - Accelerate Your Career with Smart Transitioning, Supply Chain is Sexy - Harnessing the Retail Revolution and Fail Smart - The Undeniable Link Between Failure & Success. Please connect with him on pk@thoughtleadersme.com
patience and foresight to wait till the timing was right. And so the global TED phenomenon was born.
Who can be a Thought Leader?
The simple answer is practically anyone can be a Thought Leader. A Thought Leader is a Subject Matter Expert who has unique insights or perspectives to share in their area of expertise. The key difference between a Subject Matter Expert and a Thought Leader is that a Thought Leader’s ideas are packaged in an accessible format and distributed to a market that is both ready and hungry for their insights in direction and solutions to problems. The ideas that they put forward are often powerful enough to contribute to or shift the future direction of an industry,
community or even a whole way of thinking. Extraordinary achievement is less about talent than it is about opportunity You can have all the post graduate qualifications under the
Thought Leader’s ideas are packaged in an accessible format and distributed to a market that is both ready and hungry for their insights in direction and solutions to problems.
sun but they won’t be worth more than the paper they’re written on if the knowledge gained to achieve them isn’t put to good use. In other words, it’s no longer how much you know that counts. What matters most is what you do with your knowledge and how much access you have to what other people know. Furthermore, an idea without a client who values it so much that they will pay good money for it is worthless. Central to making money as a Thought Leader is the law of diversity. Developing your own perspective requires you to look beyond the prevailing worldview and think like a futurist, just as TED founder Richard Saul Wurman did back in 1984. It’s about being relevant and positioning yourself on the leading edge of change. You achieve this by specialising your message and diversifying your delivery to give you the best of both worlds. In short, extraordinary achievement today is less about talent than it is about opportunity. In the 21st century we are all grappling with extraordinary changes that represent a permanent shift in the way we work, communicate, share our lives, create value, develop leaders and innovate. As a result, there has never been a greater need to stay relevant and ahead of the game as opposed to simply keeping up. The real opportunity today lies in tapping into the potential that lies within. Those that do will shine like beacons in a dense sea fog.
The real opportunity
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Sales and Marketing
Top 10 skills of a master networker Networking your way to a business home run sounds like a great idea, but making the most of what could be golden opportunities to connect requires certain skills and abilities. Phil Bedford spins a-who, what and how- plan.
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irstly we must quickly revisit the fundamentals. Networking is NOT about shaking hands swapping business cards and trying to close the deal on the spot. It is about building relationships and raising your “social capital’. We have all been “pounced on” at networking events by people trying to sell to us and all it does is get us to “tune out” and try and escape. So here they are the top ten skills of a Master Networker.
1
Following up has to be
our first and most important. Without which we are wasting our time. There are 3 kinds of follow up: 1 Follow up with the people you meet at an event and follow up in an appropriate manner. If you said you would arrange a meeting then do so; if nothing was agreed then just say” nice to meet you and see you soon” do not send a big sales email when it is not requested it will 99% of the time go into the “junk” and it may damage your brand, it will at the least not endear you to the person you met. 2 Follow up on referrals you have been given. When people refer us
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we have to not only follow up with the prospect but also ensure we keep the referral source informed of progress. 3 When we give referrals ; follow up with the prospect and the person whom you referred
Work your personal network.
Be dedicated to filtering it, building it and maintaining it. Develop a CRM system for your network to make sure you are building and maintaining all your key relationships. By recording and quantifying our network we can see which people we need to spend more time around and which resources we may be lacking. It is about working smarter not harder with our network. It is net-WORK though not net-SIT or net-EAT.
Positive Attitude- No one likes
to be around people who are complaining. It sucks all our energy “Energy vampires” we like to call them. When we are around positive people they can lift us up and encourage us. This applies to all walks of life, business, social and family
Be enthusiastic and about
your business/job. The first thing we sell is ourselves and if we are enthusiastic about what we are doing then it is a much more attractive proposition then
negativity. We become magnetic
Trust is one of the key business and networking attributes. Stephen Cover Jr speaks about the “Speed of Trust”. This is especially important in networking because if we are truly leveraging and building our network we need to be referring others and helping them. If we cannot trust others or be trusted ourselves why would people risk their reputations to help us. Credibility and trust is built when we do what we say we are going to do and treat people how they want to be treated. We have two ears and one mouth and need to use them proportionately. So listening is our number 6 point. The more we listen the more we can help. On a strategical note, people also just love talking about themselves. It because a very interesting dynamic for the other person to be doing all the talking but as a result they end
February - March 2015
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Sales and Marketing
xxxxxxx P.K.xxx
up thinking we are great and often we hardly say a word. If we decide to build our business through networking then we need to be committed to it. We never switch off. This doesn’t mean we are stressed and working hard, it simply means we have our antennas on and are listening for opportunities, connecting where appropriate and helping where possible and acting in a credible way at all times. Networking can become a form of muscle memory. Being thankful and showing gratitude for people who help us is important. There is little less motivating then helping someone who doesn’t some to appreciate it. At the least a sincere “thank you” and sometimes even a small gift is appropriate. It doesn’t even have to be expensive, often a card or flowers is quite sufficient.
If we decide to build our business through networking then we need to be committed to it. Being helpful is one of our key skills. If we can help someone solve a problem or reach a Goal this is one of the fastest ways to develop social capital and many of us feel great in the process by just helping. Sincerity, helping people and doing all the above just to manipulate is often seen through. We must believe in this as a way of improving our lives and those around us. Be sincere in the time we spend with people. Stop multi-tasking. If we are talking to someone then talk to them , don’t
An experienced business trainer, Phil Bedford brings over a decade of experience to his role as master franchisee for the Referral Institute. His expertise and experience of working with both companies and networking associations, coupled with a passion for training have helped him immensely. He regularly appears as a speaker in the UAE and abroad, educating people on how to build their business by word of mouth and “creating referrals for life.” be distracted by social media, answer phones or be typing on your computer. For further reading on this subject I would recommend the 29% solution by Dr Ivan Misner and Michelle Donovan
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From sharing to selling...
There are 5,700 tweets every second, 100 hours of video uploaded to YouTube every minute, and 2.5 billion of pieces of content shared daily on Facebook. There’s no doubt that social media platforms have become ubiquitous. Consumers join in by the millions in a tweeting, sharing and posting frenzy. While that’s good news overall, for the majority of businesses the fundamental question is how to convert a ‘tweet’, a ‘post’, a ‘like’ or a ‘pin’ into a sale. 44
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I
n less than a decade, social media has changed a great deal the way we communicate and interact with each other; the way we consume, collaborate and create content; and, equally impactful and significant, the way businesses relate to consumers in the marketplace. Traditional marketing and consumer behavior insights have been challenged and big companies had to quickly develop new peerto-peer marketing techniques to learn, collect, sieve through and analyze their consumers’ behavior in this new space: what they do online, how they prefer to receive information, the type of engagement they respond to, what they share in their circles, and, importantly, how their new buying preferences and habits get shaped. Small companies, those with a savvy and a flexible attitude looked at social media as an opportunity to finally have a level playing field with customers, and were keen to harness the power of social media with the aim to benefit their business, building awareness about their products and services, driving traffic, interacting with potential customers with valuable tips and advice, delivering a better customer service experience, and, in the process, collecting ‘likes’ and earning fans and followers, and, hopefully, bringing in new customers too! For a variety of reasons, not all small businesses have been just as quick to adapt to the new marketplace and adopt the new social media platforms. But that’s not necessarily a loss! Sure, they have missed on the chance to experiment with the new social media platforms and gain valuable experience from it. But, whilst they waited out, these new social media platforms have matured and evolved too. As a result, it may be easier and considerably clearer now than two years ago for a small business to figure out the parameters of the marketplace and devise a social strategy that helps deliver on its business objectives; after all, the number one goal of a small business is not just ‘sharing’ and ‘liking’, it’s ‘selling’! So where do you start? As always, start with the fundamentals:
The more you know and understand what your followers like, the more precise, articulate and effective your social efforts will get. understand the market place; know your consumers; educate yourself about new social media platforms and set clear ROIs.
Mobility and Convenience: Today
majority of people ‘are’ on the web, Facebook, Twitter and Instagram on-the-go. (Instagram is mobile by design, Facebook has over 50% mobile users, and Pinterest 48%). This increased mobility driven by the high adoption and use of smartphones and tablets, means that brands and marketers could find numerous opportunities to engage with consumers, to get their attention and move past the traditional posts and display ads into social commerce.
Know Which Is Which, For What and For Whom. We do tend to
generalize and use an umbrella reference when talking about social media platforms, but knowing the strength of each is essential. Here’s the gist of it, to get you started: • Facebook is the most widespread and the largest social platform – at 1 billion users; it also offers the biggest opportunities for consumer engagement and e-commerce applications. • Twitter is a microblogging site that boasts 560 million active users (still highest penetration in US) well accustomed to the site’s 140 character limit. Biggest opportunities lie still head with the many changes and improvements underway in 2015.
• Instagram is the picture and 15sec video sharing site that has introduced the #hashtag as a means to mark and identify posts with a specific message. Amongst its 150 million active users, there’s a balanced mix of businesses and consumers. • Pinterest is all about discovery; 68% of its 70 million active users are female, and hence the biggest opportunities are those that circle back to subject matters such as babies, décor and fashion. • LinkedIn is a business networking platform counting over 240 million active users; given its corporate base, it can be particularly useful to B2B businesses. • Google+ is a social network that has ‘circles’ at its core. Underutilized at the present, it does have a large base though, estimated at 240 million active users.
Online Windows Displays: Social media platforms are highly visual and consumers use Pinterest, Tumblr and Instagram as a catalogue to collect and discuss anything from shopping and fashion to recipes. Take Pinterest and Instagram, for example (both have a strong female user base), over the last year both platforms have played a key role in generating sales for small businesses that used them as online window displays. Stats and Analytics: You need to know at all times what people click on, on each of the social media sites. Tracking the links you share is only half of the job. The other half is the analytics. Once you know what people click on, you need to figure out how to tailor and target effectively your links across the different social media sites, to boost your number of ‘clicks’ and ‘shares’. You might find that your followers on Facebook like to click on coupons, on Twitter they like news and product updates, whilst on Instagram they like lifestyle visuals rather than product ones. The more you know and understand what your followers like, the more precise, articulate and effective your social efforts will get. 45
February - March 2015
Intelligent SME
Insurance
Buying the right business insurance SMEs in the Middle East have been riddled with the insurance conundrum. It has become, both, a challenge and a rising concern that SMEs intend to tackle but lack the right resource and direction.
A
research by Zurich Insurance states that the structure and risk profiles of SMEs worldwide are changing. “SME customers are becoming more complex,” said Richard Coleman, interim Managing Director and Director of SME at Zurich. This is true of the UAE as well. The digital revolution has triggered a significant degree of change in the SME sector in the Middle East, globalizing portions of the SME economy.
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The young and budding breed of entrepreneurs are building their businesses differently. Born in the 1970s and 1980s they are able to comprehend the digitising effect on almost every business sector. In the UAE start-up businesses run leaner with fewer full-time staff and smaller premises. Some even do without these altogether – hiring shared space and outsourcing noncore activities. The businesses they nurture are likely to be faster grow at a faster rate. They are advising
established companies on how to utilise technology to grow and sustain their business.
Insurance ensures business sustenance: Irrespective of the nature of business, all SMEs have one thing in common – the need for business sustenance. Business survival is termed as an essential discipline for any organization regardless of size. For instance, imagine if your office were to suffer from a fire,
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Insurance flood or that you lost all IT systems, data, power or connectivity not to forget a key person. What are the odds that you will be able to recover your business in a timely manner without some insurance cover and professional assistance to provide critical resources, such as office space, telephony, internet access and essential IT support and Money? The concept of insurance is more likely to resolve this longstanding quandary.
Business Continuity insurance – This
policy minimizes negative business impact by getting your critical functions and activities up and running as soon as possible. It will protect your revenue, cash flow client base, brand and reputation, as well as creating confidence amongst your customers and supply chain. Future insurance premiums will be reduced or give you a better choice of insurer or cover.
Health insurance: Now a largely popular concept in the GCC due to the introduction of compulsory health insurance schemes. Apparently, SME owners are now forced by law to provide health insurance coverage for themselves and their employees. There are many instances that SMEs go for the cheapest and basic insurance just to fulfil/meet the criteria of the mandate. Insurance companies seem hand in glove designing basic products that are a no-brainer and an easy sale. Lack of awareness and the transient nature of expatriates are also key factors linked to the very low or no levels of insurance in the GCC. Insurance is a vital component of any successful SME, which is sometimes grossly inadequate or in few instances totally absent. Majority of SME owners look upon this as a nonessential expense. The SME and insurers discord:
Many SMEs in the past have complained that insurers and brokers have failed to understand their businesses and the markets in which they operate. Increasingly, insurers and brokers need greater understanding of how SMEs trade and the exact nature of their business and thus their
requirements. This means brokers and insurers must now look for issues to be resolved as well as products to sell. An interesting report based on a YouGov’s SixthSense survey, among its online SME panel (based on responses over 2000 owners and managers within SMEs who have responsibility for or knowledge of the firm’s insurance activities) reveals the key issues of what SMEs need and what insurers must do to help solve the issue. There is a huge disconnect on how SMEs approach insuring risks, what products they own and how they purchase their products and what is offered to them by insurance providers brokers/agents in terms of advice, recommendation, and insurances and amounts. Listed are some of the relevant questions so you dear reader can ask yourself and come to understand the importance for your business. Chances are you may be confused, unaware or may be under the impression that you have the appropriate amount and cover based on your characteristics of a SME (e.g. size, industry sector, age, etc.) It is helpful to ask as well as give appropriate information to the sales consultant so you get the best for your money. An entrepreneur needs to evaluate certain requisites like:
The more you know and understand what your followers like, the more precise, articulate and effective your social efforts will get.
Sandi Saksena (Speaker & Moderator) Sandi focuses on Financial Indpendence to Empower Women. She is also a financial planning counsellor with over 15 years experience in advising on life, disability and critical illness insurances. She focuses on exit planning for SME owners, working with accountants and lawyers to provide holistic solutions. Sandi can be c ontacted by sandi@echelonamc.com
Ownership of and awareness of various insurance policies Understanding the insurances owned Assessing insurable risks Personal perception of the level of cover Risk assessment and risk management actions put in place Factors determining the policy to buy/insurer to use, Face to face meetings with Insurance providers/brokers
Forms of cover that can add value for SME owners Technological risk Health and safety Public liability risks Professional indemnity D&O cover Online trade and logistics Travel-related cover And the most essential - Life Insurance Critical Illness and Disability This is a two-way street – SMEs need insurance. Insurance companies must provide products specific to those needs. While some products are standard other will have to evolve. Building awareness and educating the SME owner about the why and what the importance, benefits, the negative/ repercussions, impacts is essential. Insurance brokers/agents must be knowledgeable, at the least have a basic understanding of the segment of the market they cover, awareness of technicalities, even specialists in some cases.
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SME Booster
Setting up a best-in-class PMO function The project management function is integral to the oversight of projects, from conception to completion, and the use of effective techniques helps to complete project work on time, on budget and with minimal disruption to the business, explains V Ramkumar.
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hether it is the rollout of a new product, or expansion into a new market, launch of a new cost optimization program or implementation of a enterprise IT project, establishing a fully functional Program Management Office (PMO) is fundamental to the success of the underlying initiative. However, it is not necessarily as straightforward as just recruiting one project manager and making him the head of PMO function! Lets explore a little more on what the Program Management Function entails, why would it be relevant and how does it create value.
Program Management Function: Strategic or Tactical?
It is not necessary that a PMO necessarily have to be a permanent function. In many occasions, it can just serve to be a temporary unit, whose scope is limited to a specific project, providing structure and oversight to a specific initiative that is to be managed. More often than not, projects tend to be more technology driven, and hence PMO functions get to become ubiquitous with IT units. However, it is also commonplace to find that in such situations, the unit struggles to get the projects executed, as they tend to lack enterprise wide influence. The PMO function gets to become more permanent and standardized, when the authority of the unit cuts across departments, drawing its reporting line to the CEO and/ or Strategic planning unit and oversees projects are in strong
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CLOSURE PLANNING INITIATION EXECUTION MONITOR & CONTROL
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SME Booster alignment to the organizational strategy.
The typical role of PMO gets classified at three levels: Advisory: The PMO conceptualizes and advises on project alignment to organizational goals, advises on setting the project scope, objectives, budget, and best practices to be adopted.
Governance: The key role of PMO being to ensure projects is governed with right tools, templates and supervises progress of the project. Execution: The PMO gets to take
a far more active role here, right from defining the project plan, charter, monitor project for adherence to timeline, quality and budget and manage key stakeholder communications. The maturity level also drives the role played by PMO. Where there is minimal standardization, the role is more reactive. As maturity levels progress, the emerging discipline results in standardizing the project management processes, leading to an integrated unit that helps having a well defined role and an established team. The PMO then gets to manage a more effective integration where it manages projects across the organization, eventually helping in effective innovation and continuous improvement. The visibility and effectiveness of the PMO is also proportionate to its quality of communication. No matter how good is the planning, scope and timeline management, management of vendors and procurement, and how well the budget definition and cost management function are, the real perceptible value that organizations derive from the PMO is when it proactively identifies the risks associated with the project, effectively communicates this across all key stakeholders and gets passionately focused on delivering quality. The underlying theme that cuts across all of the above is in management of people – both those who are ‘internal’ and involved in the project, and those who are ‘external’ and are impacted by the project. The PMO gets to accomplish its delivery through 5 key process
areas for every strategic project. While each of them have a significant bearing and overtone on the others, it is important that all of these get to be delivered effectively for the real value of PMO to be leveraged: • Initiation: Gathering insights for the need for the initiative and activate the project • Planning: Defining the project plan, charter and master program schedule • Execution: Help in the project groups being formed and execute the initiative • Monitor & Control: Validate progress, identify risks & mitigation, communicate progress • Closure: Confirm formal closure of the project – seeking clear signoffs from stakeholders.
The benefits that are driven through a PMO are three-fold:
a) The PMO helps drive the strategic alignment of the initiative to the strategic objectives of the organization. As the torchbearer of the critical projects, it also helps provide a continuous visibility on what’s going on, to all key stakeholders. b) As the central function driving all key initiatives, the PMO also helps drive an optimized allocation of resources, effective facilitation of prioritization from time-to-time and providing an overview across all departments and units of the organization. This is somewhat akin to a central nervous system! c) As the custodian of best practices and its implementation, the PMO helps drive consistency and quality in the execution of projects. This is a key ingredient for the success
The key role of PMO being to ensure projects is governed with right tools, templates and supervises progress of the project.
V Ramkumar is a Partner at Cedar Management Consulting International LLC, a US based management consulting firm whose heritage includes being part of the firm founded by creators of the Balanced Scorecard. Ram has over 20 years of management consulting and strategic transformation experience. He can be reached at v.ramkumar@cedarconsulting.com of strategic projects – the value of which is not only to be measured by impact created, but also by the opportunity loss that is protected, with timely and good quality execution. It is also important to be clear on what gets to be defined as the strategic project that is to be managed by the PMO as well. The point to note here is that while not every initiative in the organization is strategic, each initiative that is indeed identified to be strategic needs to be under the purview of the PMO! So what is a strategic project? The simple thumb-rule litmus test is ask the following: 1. Does the investment in the project or the value that it is expected to generate / protect large enough for the management team to be concerned? 2. Does the initiative have a direct impact on your customers or a large section of employees within the organization or key stakeholders of the enterprise? 3. Will the successful delivery of initiative make a tangible and significant impact on the strategic direction of the organization? Conversely, will a failure to deliver on this initiative adversely impact the prospects of the organization? If the answer is YES to even one of those 3 questions, then well, its time for you to have the PMO setup, and ensure it focuses on a best-in-class delivery of the initiative. After all, it is the 5% of time, effort and money spent on the PMO that assures the protection of the balance 95% that is invested in the project. In a way, this is your own project insurance, and its value is as seen by the eyes of its beholder!
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Leadership
A knight to remember SMEs in the Middle East have been riddled with the insurance conundrum. It has become, both, a challenge and a rising concern that SMEs intend to tackle but lack the right resource and direction.
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hat are the first words that come to your mind when thinking of leadership? Drive? Determination? Assertiveness? Confidence? Oxford English Dictionary defines Leadership as “the activity of leading a group or an organization”. Apart from this, there are several views on leadership- personal ones such as “leaders are born not made”, and scientific ones like behavioural
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theories or the more recent transactional and transformational theories. However, no matter which view or theory one ascribes to, it is clear to us that over time, one attribute remains true across all interpretations: Leaders know how to adapt to their environment. The most prominent leaders in history were always somehow a step ahead of the game. They had the incredible ability to think on their feet and adapt to
changes in their environment. A perfect example of a leader who personifies this is His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Prime Minister of the UAE and Ruler of Dubai. Sheikh Mohammed after taking the mantle from his brother, drove the incredible transformation of Dubai. This city wouldn’t be what it is today, a premier business hub and one of the most prestigious holiday destinations in the world, without
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His Highness’s vision, leadership and impressive adaptability. To quote His Highness: “Leadership does not need strength. Everyone gets in return what equals his efforts and what he puts in. One must be dynamic and able to change and adapt to lead and grow”.
Leadership is in short supply these days. We live in a turbulent environment- the US Army College calls it a VUCA world: •
Volatility: The nature, speed, volume, magnitude and dynamics of change • Uncertainty: the lack of predictability of issues and events • Complexity: The confounding of issues and the chaos that surround any organization • Ambiguity: The haziness of reality and the mixed meanings of conditions Recently, The Conference Board and Development Dimensions
International (DDI) released their latest Global Leadership Forecast 2014/2015 where over 13,000 leaders, 2,000 companies across 48 countries were surveyed. The results were significant yet far from astounding. What these findings reveal is that organizations whose leaders are capable of demonstrating agility are three times more likely to have financial performance commensurate with the top 20% of organizations. At the same time, the survey also revealed that 1 in every 4 companies feel that their leaders are not VUCA capable, in other words, not agile enough. It becomes very apparent that going from good to great in such an environment requires something more than commonly accepted basic leadership skills. Adapting and taking action in a quick, clever and astute manner, in one word to be agile, is more relevant than ever. Agility Leadership is not the mastery of one skill but rather the mastery of a group of skills necessary to reach sustainable success in a volatile, complex and fast paced global environment. Agility is: • To have systemic thinking. A way to approach a given situation in its entirety and understanding the influence of each component as a whole and its relationship with one another rather than in isolation. • To take responsibility to act proactively instead of reacting and adjusting to a given situation or passively expecting something to happen. • To act together in a cooperative manner for mutual benefit and common sense of purpose rather than having an individualistic approach. • To be able to anticipate the consequences of one’s actions in a rational and intuitive manner in a given situation rather than reacting to them. • To innovate and change only what is needed, when needed. Being open to new ideas or solutions to deal with context and step out of the usual frame of reference. So what does this mean for an entrepreneur? An entrepreneur is by definition someone who is
Salma El Shurafa & Veronique Ademar are partners at The Pathway Project. Salma is the founder of the company and draws on her 11 years of experience as a Human Resources professional, entrepreneur and executive coach to provide outstanding tailored coaching to professionals who are navigating the dynamics of the global UAE market. Veronique has 12 years of experience as a Human Resources professional and an internal coach. She has held various regional roles such as Recruitment Manager, HR Business Partner and Talent Manager with several Fortune 500 companies in the UAE and Switzerland. veronique@pathwayproject. ae , salma@pathwayproject.ae not afraid to take risks. They have most likely sacrificed a steady day job and pay cheque in the hope of creating something big. In order to succeed they must possess and demonstrate several skills, such as decision-making, creativity, strategic thinking, and planning. However, while these skills are imperative, differentiating oneself as a leader is most critical. Leading the creation of a successful and sustainable business requires one to act, anticipate, get out of the comfort zone and adapt to changes in any given context. Whether it is about keeping an eye on the competition or on new technology you always have to keep your finger on the pulse! In a world where the only constant is change, can you really afford to stay still? Remember, one’s success cannot to rely on what has been done in the past or the present but what is being done to foster the ability to adapt to a constantly changing environment. Thus, developing agile behaviours is no longer an option but an absolute must. So, where does your organization stand in terms of agility? Do you want to explore your team’s agility or your own? Connect with us at The Pathway Project to learn more about our Agility program, workshops and coaching.
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SME World Summit: Moving Mindsets, celebrating entrepreneurship For those who missed the first gathering, here's an invitation to the next‌. 52
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SME World summit 2015 - Curtain raiser
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ubai’s love for entrepreneurship is no secret and SME World Summit is the platform where it has always found expression in the most flattering terms. The emirate’s biggest networking, marketing and thought leadership congregation is just fifteen days away. Over 2000 delegates with around 50 speakers are expected to participate in the event, commencing from March 18 to 19th in Dubai, at the Jumeirah Beach Hotel. Shantanu AP, founder & CEO of the organising committee-SPI Group, said, “The amount of buzz and excitement this event has generated is truly incredible. I can confidently say that this is a Middle East event that has caught the interest and attention of the world. The scale of the event this year is much larger than in previous years with nearly 50 speaker confirmations from across the globe. Delegates at SME World Summit (2015) can look forward to intellectually thought-provoking sessions of debates and discussions which will redefine how we look at the world we operate in. Speakers will include leading lights from the fields of manufacturing, law firms, banking, realty, UAE-based billionaires, successful niche business models and much more.” Weak financial infrastructure remains a problem, as do gaps in the legal and institutional framework. Since the UAE government has recently launched their Vision 2021 to provide a major boost to the country’s economic engine, the event will witness high-powered discussion
on this plan by experts having hand-on experience on the subject matter, which includes the Dubai Executive council and senior economists in the region. What is in store for a local business, how can SMEs, or, even start-ups leverage the Vision 2021 to their advantage? Many such questions will be answered at the SME world Summit 2015. Putting a spotlight on the combination of internet, global markets, and a rising international middle class that has allowed a company of any size to compete globally, the SME World Summit shall map the journey to graduate from an SME to a multinational. A host of experts will chalk out the new rules of the game that’s not just reserved for the Fortune 500, in a panel discussion titled: How do you make local brands a globally renowned one? The world isn’t just flat— it’s completely open. Several roadblocks—some perceived and some very real—are holding back small business owners from capitalizing on the growing global marketplace. These are the takeaways for established entities, but, treps struggling to take-off are also a majority here. A shortfall of capital is one of the most commonly cited reasons why a company is unable to expand business and succeed. In Dubai’s context, the emirate witnesses huge entrepreneurial spirit with a number start-ups and SMEs in lucrative sectors. A recently released ministry of economy data showed that SMEs contribute approximately 40 to 46 per cent of nominal GDP in Dubai; more than 60 per cent of the UAE’s
GDP and provide 86 per cent of all private sector employment. Despite their dominant numbers and importance in job creation, the prospect of getting financing even in a growing economy, like UAE, is very difficult because banks don’t finance dreams. Making yourself a bankable entity is also mighty goal. Banks need a good track record and a stellar business model, for starters. How do you get the ball rolling on this front? Well, a combination of experts including bankers, lawyers and successful SMEs will provide their insights on bridging the gap. Apart from more than 20 knowledge sessions, exhibitions and gala evenings, a third element of SME World Summit, spread on two days, this year will be a business transformation session dedicated to ‘The Female Entrepreneurs: how businesses can transform themselves with a brand makeover, dive into the sea of opportunities with personal goal-setting and use Twitter for marketing’ by four successful woman leaders. Last but, certainly, not the least, the event will also draw high-networth billionaires on the day two, Avishesha Bhojani (Group CEO at Bates Pan Gulf), Yogesh Mehta (managing director at Petrochem Middle East); Mishal Kanoo (deputy chairman at the Kanoo Group) to discuss the problems of being super successful, and highlight the pitfalls of success. Whether this year becomes a landmark year or not is still fifteen days away to decide, but there will definitely be some high torque and adrenaline rush for the rest of the week as Dubai revs its engine.
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Profile of our sponsors & exhibitors Al-Futtaim Motors Al-Futtaim Motors is a member of the Al-Futtaim Group, the leading UAE business conglomerate. It has operated the Toyota franchise in the United Arab Emirates for almost 6 decades. The company started its operation in 1955 with the arrival of the first shipment of 28 Land Cruisers and Toyopets from Japan. It has since become the largest distributor of automobiles and automotive products in the UAE and the company has gone from strength to strength expanding its presence through a network of high profile Toyota showrooms and service centres providing convenient touch points for motorists in every corner of the UAE. Al-Futtaim Motors offers a comprehensive choice of Toyota models ranging from compact, sedan, SUV, MPV and LCV options. While the Yaris Hatchback monopolises the compact range, the Sedan series offers a wide choice of vehicles such as Yaris Sedan, Corolla, Camry, Avalon and Aurion. The SUV range comprises the legendary Land Cruiser, Land Cruiser Prado, FJ Cruiser, Fortuner, Sequoia and RAV4. While the MPV range features Innova, Previa and the newly launched 7-seat Avanza, the LCV line up covers the Land Cruiser Pick-up, Hilux, Hiace and Coaster. Al-Futtaim Motors recently launched the much awaited sports car, the front engine rear wheel drive Toyota 86. The company currently operates 14 Toyota showrooms conveniently located across the UAE. For more information please log on to www.toyota.ae; https://www.facebook.com/ToyotaUAE.
Resemble
Value, Maximum ROI and Lower TCO.
Resemble Systems is a Microsoft Silver Partner providing Microsoft Office 365 based Business Solutions in the Middle East. We follow consultative approach in identifying the customer challenges and then map those business challenges with a unique, cost effective and secure Intranet SharePoint Portal solution that ensures Business
We provide superior Professional Services and Workflow Process Automation Services for managing the IT challenges in various verticals and industries, serving both the local and international customers. Our associates are distinguished by their functional and technical expertise combined with their hands-on experience and technical certifications thereby ensuring that our customers receive the most effective, quality delivery and professional services on time.
Finesse Finesse, a Red Herring Global Top 100 winner, is a global provider of Innovative Business and Technology solutions to the BFSI, Education, HealthCare, Hospitality and Oil & Gas Verticals. Finesse offers Solutions & Services in the area of BI & Analytics, Enterprise Content & Business Process Management, Governance, Risk & Compliance, Social Media and Smart Governance with delivery specialization in Mobile & Cloud platforms. With proven experience and deep industry-specific expertise, Finesse’s Solutions and Services are exceptionally qualified to deliver innovation with measurable performance. It’s services are backed by partnerships with leading technology vendors such as Oracle, Qlik, OpenText, SoftwareAG, Tagetik & Kofax among others. Finesse brings together advanced technology, robust infrastructure, large pool of talent and a proven global delivery model to provide wide range of IT services to their clients cost-effectively and seamlessly. Finesse operates through their offices spread across the globe
Vital Corporate Solutions Dubai is attracting a large amount of entrepreneurs in this present climate who are looking to set-up a business in one of the numerous Free zones in the UAE. We aim to help these entrepreneurs find the right Free zone for them and take the hassle out of setting-up so they can concentrate on building their Business. Right now we are witnessing a surge in Free zone incorporations from persons wishing to take charge of their careers and lifestyles. Vital has strived to adapt to market requirements and therefore developed strong ties and knowledge of the various Free zones allowing us to recommend the right Free zone to each client and take the hassle out of the set-up so that the client may focus on what is important ........ growing their business.
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Profile of our sponsors & exhibitors Emirates Chartered Accountants Group Emirates Chartered Accountants, United Auditing and its associate professional firms – Emirates Chartered Accountants Group – are ISO 9001-2008 Certified International Chartered Accountants firms head quartered at Dubai – the emerging
business capital of the world. We are member of IEC-Net, an International Network of Auditors, Accountants and Tax professionals; currently the network is having partners in more than fifty countries providing real time financial services to the business community globally. Emirates Chartered Accountants Group is marked by excellence in client service, quality, and accountability. While auditing we ensure financial statements are complying with International Financial Reporting Standards (IFRS) and are committed to keep the highest level of professional standards and quality. We are listed in all the free zones, major banks and Govt. Departments Our services: Audit and Assurance . Accounting and Financial Advisory services . Business Valuation and Re structuring Company Incorporation . Consultancy in Corporate Finance . Market Research and Feasibility studies Payroll Services . Accounting Software Solutions
Broccoli Broccoli Pizza and Pasta offers freshly prepared Italian-influenced food for a health-conscious community which comes with wide varieties of pizza, pasta and salads. Our goal is to promote the best quality food with an impeccable service in a reasonable price. Broccoli Pizza and Pasta promises to become the leading, locally founded Pizza franchise in the UAE. In the latter, we have 10 active branches and 35 under constructions in United Arab Emirates. Our first branch in Riyadh, Saudi Arabia is now open to the public. We are also planning to open 300 more restaurants around the globe to serve and share our mission which is “Healthy eating lifestyle for the active community within the next 5 years.”
Zen Interiors Zen Interiors offers turn-key and bespoke design solutions for residential properties, from stylish penthouses to elegant family villas. Specialising in contemporary, timeless design, a Zen design is one that is lovingly created using superb craftsmanship and unswerving attention to detail. Since its inception in 2003, it has completed more than 1,600 homes and has many more exciting high end residential and hospitality projects lined up for the future across the UAE, including projects for the royal family. It also has a growing portfolio of international clients from countries that include Kenya, Uganda, Jordan, Bulgaria, Maldives, Seychelles and India. www.zeninteriors.net
The Box The Box is a Dubai SME 100 and a leading storage and moving provider in the U.A.E that caters to personal and business needs. The company was founded in 2007 and has grown exponentially since then with more than 25 facilities within the U.A.E. With secure lockable storage units ranging from 25sqft to 3,000sqft, The Box also provides larger warehouse spaces enabling Startups and SMEs to store and operate their business from a convenient location with access to workspace, call center, order fulfillment and transportation services. Moreover, The Box offers a wide selection of packaging supplies including boxes, bubble rolls and tapes.
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Profile Profileof ofour oursponsors sponsors&&exhibitors exhibitors Hessa Alattay Advocate & Legal Consultants Hessa alattay advocates & legal consultants is one of the developing law office in the field of providing legal services. We are always keen on providing its services for customers thereof in the following languages: Arabic, English, Hindi and Russian with full proffessionalism in different areas (trade, labour, insurance, companies, medical mistakes, personal status.). The office also provides its legal services outside the state in cooperation with law firms within Arab Gulf countries and effectively contributes in community initiatives. The office objective is to provide its customers with legal solutions required for helping them in their business by virtue of law and without prejudice to regulations and by-laws.
RSA Logistics DWC-LLC RSA Logistics DWC-LLC is a modern integrated 3rd party logistics (3PL) provider. RSA Logistics was established in 2007 and now has a major presence in the UAE and Kenya. The company offers services in contract logistics, freight forwarding, distribution, and supply chain management. Headquartered in Dubai, RSA supports many of the world's top brands from a wide spectrum of industries. RSA takes pride in being a one-stop shop that delivers integrated solutions to its clients. The company currently owns and 170,000 square meters of logistics space, state-of-the-art multi-temperature warehousing facility in DWC which is ISO certified and rated 5-star by the DMCC. In addition the company has commissioned a 17,000 square meters facility that house modern integrated warehousing units dedicated to the hi-tech and automotive industry with temperature controlled chambers that enable world-class solutions to customers. RSA also unveiled a 75,000 sq m open yard facility for out-of-gauge cargo and project logistics. Total flexibility in picking, packing and shipping enables RSA to optimally store products in cartons, pallet flow racks, dedicated pallet racks or in bulk. All products are made available for shipment on the same day. Armed with a reliable and time-tested global agent network, our dedicated team applies local and regional market knowledge to every shipment, moving freight from door to door with precision. RSA continues to aggressively expand its services through the Middle East and East Africa. Partnering with German Logistics giant Alfred Talke Logistic Services, RSA operates a state-of-the-art chemicals storage facility in DWC. For more information, please visit the RSA website at: www.rsalogistics.com
Hertz Hertz UAE is one of the largest and most experienced vehicle rent and lease services provider in the region. We manage 20 branch locations and more than 12,000 vehicles for over 2,000 satisfied corporate clients across the Emirates. Hertz have retained market leadership in the UAE in terms of services, quality and sheer capacity for over 21 years. Hertz UAE, part of the Al Futtaim Group of Companies, benefits from a large and diverse group of automotive operations. Hertz currently has a large portfolio of Corporate Customers, ranging from large multinationals to SME’s and start-up companies offering a full range of transportation solutions to suit company requirements. Our dedicated fleet consultants are knowledgeable and can provide solutions that are “fit for purpose” and customized to the clients’ needs. Hertz UAE local services include: 1. 2. 3. 4.
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Short-Term Rentals Long-Term Leasing Corporate Rental Discount Programs Managed Transportation
·Event Transportation ·Staff Transportation & Bussing Services ·Rental with Driver · Leasing with Driver ·VIP Chauffeur Services · Transfer Services
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SME World summit 2015 - Curtain raiser
Profile of our sponsors & exhibitors NETS International
NETS International is a leading best in class ICT system integration and solutions company, specializing in next generation domains such as Unified Communications, Collaborative technologies, Cloud computing, Information Security solutions and related emerging technologies. NETS customer driven business approach revolves around enabling and engaging ICT as life cycle solution to all organizations regardless of size and industry covering SMEs to Enterprises across GCC and beyond. By constantly aligning the portfolio of professional and managed services, NETS strives to deliver superior customer value that help organizations to manage their information resources more efficiently for better business decision-making and superior business success.
Al Fardan Exchange
Al Fardan Exchange is one of the leading names in the UAE remittance market and a pioneer in the industry of UAE money exchange business. Al Fardan Exchange has always taken a lead when it comes to money transfers globally. With its extensive network of 150+ correspondent banks and partners worldwide, it offers all kinds of remittances through its wide branch network across UAE. Since its inception in 1971 Al Fardan Exchange has seen many faces of the industry and crossed many milestones and reached to a position where the company can call itself an established, well recognized and customer centric organization where the focus is on providing the best available service to the clients through the best available medium at the best available price.
Just Wills Al Wassiya JLT
Founded in 1989, Just Wills Plc has grown into the largest Will writing company in the UK with over 80 outlets. A franchise of Just Wills PLC, the largest Estate Planning Organization in the UK, Just Wills Al Wassiya JLT is a specialised will writing company that focuses on drafting top-quality wills while also offering estate planning advice to businesses. Recognized as one of the pioneers in drafting expatriate wills in the UAE, Just Wills Al Wassiya, works with clients from all over the Emirates and have recently acquired rights for expansion into the GCC region. The company is approved by the Islamic Affairs and Charitable Affairs, Department of Dubai. They are licensed by the Dubai Multi Commodities Centre Authority and listed on both the Dubai Government website as an approved Will Writing Company for Expatriates in Dubai. It is also registered with both the Canadian Business Council, and the British Business Group.
Telephone: 050 256 7121, Office: 04 457, 3177, Fax: 04 332 8810 Email: admin@just-wills.net, www.justwills.ae
KGRN Accounting Associates
Melbourne, apart from Dubai.
KGRN Accounting Associates is a medium size Accountancy firm, with its head office in Dubai, UAE. It was founded in 2003 by G Rama Naidu and currently employs experienced and qualified Chartered Accountants, having notable presence in Chennai &
The business environment, these days has become more challenging and competitive. Organizations deserve an accounting firm who will guide them through the complexities of financial reporting, while supporting them in every aspect of their business. Our team at KGRN brings extensive experience and commitment to deliver these services with the highest level of professional integrity
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Profile of our sponsors & exhibitors
Fadi Fallaha Fallaha Brothers FZT Majed Al Mehairi Pyrosafe Technologies
Janine Croft & Paul Gledhill XpertLearning
Kamal Majeed Dalmon Star
Hikmat Wehbi W-Studio Nicole Rodrigues Diva Modelling & Events
Premnath Shetty Heat Shield FZC Jamil and Shemi Gulf First Shipping & Logistics LLC
Mario Economides Majestic Marine Engineering LLC-FZE
Tarek Ghaddar Rich Motors
BUSINESS BANKING
RISE – a unique platform that provides SMEs a forum to network, share learnings and grow. Celebrating the spirit of Entrepreneurship.