Business | General

Companies in region fall behind on innovation

Almost 80 per cent of business executives in the region say their working environments are not innovation-friendly, a survey reveals

  • Staff Report
  • Published: 23:29 July 11, 2008
  • Gulf News

Dubai: Almost 80 per cent of business executives in the region say their working environments are not innovation-friendly, a survey commissioned by Leaders Present, organisers of the Management Innovation Forum has found.

The finding represented the insight of over 100 regional business leaders and key decision makers across the region who participated in the innovation forum.

The survey also revealed that regional companies were still not aware of the potential that impact innovative thinking could have and the opportunities it could unleash.

The poll found that 35 per cent of the business executives spent "a step at the start of a project" thinking about innovation, while 28 per cent said they spent all their time coming up with innovative ideas and the same percentage spent little time thinking of innovation.

Model

Meanwhile, earlier this month, Sam Hamdan, chairman of Global Leadership Team, an innovation advisory body and the architect of the World Summit on Innovation and Entrepreneurship (WSIE) told Gulf News that the UAE, specifically Dubai, through innovative incubation environments could offer another model for Arab success by evolving its current entrepreneurial capacities to make it easier for aspiring entrepreneurs to advance the innovation cycle.

"Given its past success to put businesses at the centre of its global development, I forecast that Dubai's government will continue to streamline its policy and regulatory frameworks to advance the local 'innovation production' capacity. However, its sustained success will require the active collaboration among the future generation of Emiratis."

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