ABU DHABI, 18th November 2015 (WAM) – Participants at the World Strategy Summit, which was held under the theme of ‘Strategic Leadership for the Future’, emphasized the importance of establishing an international platform for strategy, leadership, and innovation. This platform would contribute to building governmental and business sector leadership and would be based on a comprehensive vision to understand the nature of future opportunities and challenges. The platform could then be used to create measurable scientifically-based strategies that are flexible enough to tackle emerging changes to ensure sustainability.
They also noted that the summit that was organized under the patronage of Lt. General HH Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior, provided an opportunity for the world’s leading authorities to come together with senior businessmen and to discuss topics regarding strategy, leadership, and innovation. It also provided an unprecedented opportunity for governments and private companies to interact through the learning and exchange of ideas. This enables various competent parties to build strategic competencies to ensure a better future and to contribute to developing performance and enhancing their competitive edge. They also praised the interest of the United Arab Emirates (UAE) and its efforts in organizing the summit that foster international cooperation.
Furthermore, participants praised the achievements of the UAE in harnessing and utilizing human capabilities, as this had led to notable advancements in infrastructure and economic development. They also acknowledged that such achievements in the short span of time surpass many advanced countries; which is a result of long term vision and a clear strategy. They noted that this also reflects the commitment of the UAE leadership to leading the country towards an economy that is based on knowledge and innovation.
Participants agreed that the vision and ideas of HH Sheikh Saif bin Zayed represent both a roadmap and a starting point for establishing an international platform that gathers key experts and leadership from government and business sectors. This platform shall contribute to building leaderships for governmental and business sectors and will be based on a comprehensive vision to understand the nature of future opportunities and challenges. The platform will be used to create measurable scientifically-based strategies that are flexible enough to tackle emerging changes to ensure sustainability. These strategies will represent a proactive vision that reflects the futuristic approaches of the UAE leadership. As it is knowledge-based, the platform will contribute to strategy, leadership, and innovation fields.
Concluding today, the summit has been organized by the Ministry of Interior in cooperation with the American Association of Strategic Planning and the global platform for development, the World Development Forum. The two-day event was held at the St. Regis Hotel on Saadiyat Island, Abu Dhabi.
On Wednesday, the Summit discussed working papers, sessions and programs in order to assess and study the strategic leadership capabilities of the participants within four areas: leadership, innovation, planning, and implementation. It also presented the practical and realistic issues in planning scenarios and strategic implementation.
In the morning session, Renee Mauborgne, Professor of Strategy at INSEAD, Co-Director of the INSEAD Blue Ocean Strategy Institute, addressed the Blue Ocean Strategy. She explained that the concept of the strategy may be implemented by institutions or companies. The strategy states that it is not necessary for companies to realize success in practical life to achieve a strong competitive position, as they can achieve success without competition by entering new markets to promote their products, or by providing alternative products that do not attract competition. Thus, a company can be highly profitable by utilizing a strategy of intelligence and leadership to attract current and potential customers.
Mauborgne explained that the “Strategy considers the value chain as a whole, it is an approach as wide as the work system. Moreover, it is an integrated way of thinking, not just a theory about entrepreneurship or subsystems of institutions.” Furthermore, Mauborgne pointed out that as nearly as 150 comparable models to the Blue Ocean Strategy have been monitored; and the theoretical and applied approaches of the book are a result of nearly 15 years of continuous ground work, writing articles for scientific and administrative publications and of field experiments to develop them For his part, Rafael Ramirez, Director of the Oxford Scenarios Programme, delivered a speech on the positive exploitation of doubt – planning scenarios for the troubled times. He noted that as the world is getting more troubled and complicated, these effects are clearly reflected in the poor performance of the financial markets and economies all over the world.
Strategic expert and thinker, Gary Hamel, discussed the ‘ultimate competitive advantage’ in his speech; followed by John Childress, Professor of Strategy Execution and Leadership from Spain tackled the hidden obstacles for the implementation of strategic plans.
Today’s sessions and participation focused on two tracks: Government and business, and practical working papers, programs to assess and study the leadership capabilities of the participants. Discussions related to strategy fell within the following areas: leadership, innovation, planning and implementation. In the governmental track, Consultant Dr. Kai Chan talked about the exploitation of international benchmarking reports on competitiveness to guide policy. Jim Gilchrist, CEO of CAES tackled strategic leadership performance.
In the business track, Karla Martin from the International Strategy at Google submitted a working paper under the theme: “The Strategy: Beyond the Vision to Reach Implementation”. Esteban Gomez, of the Palladium Group presented a working paper about the “Partnership Strategy between the Public and Private Sectors”.