What Do We Need To Become a More Innovative and Competitive Economy

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While writing this article local newspapers across the country have been reporting that the UAE has been rated number one globally in 50 indices covering vital community and service sectors, this is according to the Global Competitiveness Index for the year 2017 – 2018.

The country has recently been achieving top rankings in the Arab World in areas such as Ease of Doing Business, Competitiveness, Human Development and Innovation. However, the UAE has made it clear that it has its sights at not only competing regionally but globally across various areas, and especially in the space of Innovation.

But let’s pause and think about this for a minute: “How can we expect to embrace Innovation and aim to compete globally in this space if we are too afraid to step out of our comfort zones, and we fear the unfamiliar. Innovation requires us to enable Creative, Courageous Character of Leadership.”. These were part of my views during a panel discussion in front of a group of local university students and graduates on the topic of predicting how the future would look like in the next 50-100 yrs during the National Science & Innovation Festival in Dubai.

I explained to the audience what I believed is the caliber of talent and business leaders let alone our country, but the world needs today. I had written about this back in 2011 in an article titled ‘Vitamin C for Today’s Leaders’ where I reflected on the lessons of the 2009 global downturn and the failings of some of corporate leaders who were at the helm of their organisations. In the article I prescribed that what desperately need talent that has or can deal with the 5 Cs (Hence the title Vitamin C, cheeky right?). These are:
-Talent is not afraid to step out of their COMFORT zone
-Talent that displays COURAGEOUS leadership
-Talent that is CREATIVE
-Talent that displays CHARACTER of leadership
-Talent that is CONSISTENT in its habits, practices and messaging

I found that these are the skills we need to nurture in our talent so that we enable them to be able to deal with the complex challenges the world is confronted with today, and lead the economy to become more sustainable, competitive and innovative.