(MENAFN Press) Every organization in the Middle East should be questioning the who, what and how of their current approach to business, and finding a better way to offer value to customers and constituents says Kamal Hassan, President and CEO of Innovation 360 Institute, a business strategy firm with offices in Dubai and Doha.
The demonstrations in Egypt and around the region show how out of touch governments can be with what people want, Hassan says. The business world is no different, only instead of protesting customers just go someplace else.
One way to keep customers coming back is through business model innovation, Hassan asserts. Business model innovation helps you understand your value proposition and uncover new ways to offer value by rethinking your approach, he says.
In addition to customer retention, business model innovation can help companies break into new markets, something which Hassan says is key to the growth strategy of many organizations.
In fact, a recent PwC (PricewaterhouseCoopers) survey of CEOs worldwide reported that the majority of companies are shifting their growth strategies away from existing markets and are instead focusing on creating new products and services aimed at different markets. The survey also found that 49 percent of CEOs in the Middle East believe their home countries offer only low to medium opportunities for growth.
These companies are looking for ways to diversify their offerings and appeal to new markets, explains Hassan. To attract new customers they need to understand how to innovate their current business model.
Anyone interested in learning more about innovating their approach to business can attend Business Model Innovation and Design, a 2-day workshop presented by Innovation 360 Institute and scheduled for 22-23 February in Doha, Qatar and 27-28 February in Dubai, UAE.
The workshop is designed for executives and managers of established companies and startups, as well as government leaders. Workshop participants will learn what makes a business model innovative, and how to use a variety of tools to help them transform their own business model successfully.
The workshop will be facilitated by Hassan, and led by business model innovation researcher and executive consultant Marc Sniukas, who has worked with such companies as BMW, Commercial Bank of Dubai, Etisalat, Nokia, McDonalds and Saudi Electricity. Sniukas is also the author of the recent book Reshaping Strategy: Exploring the Content, Process and Context of Strategic Innovation.
For more information on Innovation 360s Business Model Innovation and Design workshop in Doha and Dubai, visit http://www.i360institute.com/business-model-innovation-design-pdf/.