Riyadh – Mubasher: The Saudi Vision 2030 provides a window of opportunity for the country’s economy particularly through the private sector, said Dr. Robert S. Kaplan.
He stressed that there were new roles that the Saudi kingdom needs to adopt in order to ensure that its economic growth can be transformed into “profitable, socially-valuable and sustainable ecosystems,” Saudi Gazette reported.
One of the most important aspects of ensuring sustainable “inclusive” growth of an ecosystem is to find a “catalyst” to act as “the Office of Strategy Management”, Dr. Kaplan stressed.
This catalyst can be a high-level government committee or experienced consultancy body, the speaker stated, indicating that the catalyst’s role would be to “identify and support key intermediaries that connect local corporations to communities who serve as suppliers, employees, and customers.”
Speaking at an event held in Riyadh, Kaplan, who is an influential leader in strategy and performance management, outlined a number of steps to ensure that these ecosystems can be implemented successfully by capitalising on resources to form a kind of equilibrium that supports its component parts.
Breaking down these steps, Kaplan stated that the first involves identifying projects, how they generate economic benefits and creating socioeconomic gains for relevant parties.
“Such projects require diverse investments from different stakeholders to ensure that they can be scaled up to other communities and regions,” he said.
The second step is all about seed financing from private sector organisations, agencies, investors, and private equity funds, the Professor Emeritus at the Harvard Business School and founder of Palladium highlighted.
“The third step is to set-up and activate a governance and control system, managed through proven methodologies such as the Execution Premium Process and Strategy Maps to enhance cohesion of the ecosystem by creating consensus, commitment and a common agenda among the executive leadership teams of the company, public sector agency, or NGO,” according to Saudi Gazette.
