“Being Global Doesn’t Matter” – Frost & Sullivan

A conference by Frost & Sullivan in the Middle East has highlighted the importance of ‘visionary innovation’ and megatrends in making a business successful.

The GIL 2013 Middle East event, held by the research firm in Dubai on Tuesday, addressed how businesses can be innovative in the modern world as well as how corporate enlightenment can stifle success.

The keynote speaker, Aroop Zutshi, global president and managing partner of Frost & Sullivan, spoke about the influence of the internet and social media on the modern world, stating that “being global doesn’t matter anymore”.

“Organisations need to look at continuous innovation to achieve long-term sustainable growth. We believe that focus on industry convergence will uncover new and emerging areas of revenues,” he said.

Zutshi also addressed the delegates to speak about the significance of leveraging innovation to survive in the future business environment.

He went on to highlight how in order to remain successful in business, companies must “have a vision of innovation”.

Y.S. Shashidhar, managing director at Frost & Sullivan, MENA and South Asia, said: “It is important for companies in the Middle East to understand the global forces that are driving change, especially in today’s competitive environment, where we are living in an ‘uncertain yet interconnected world’.

“They also need to understand the risks involved if they do not gear themselves for this change…it is our effort to get companies to think beyond, take into account technologies and innovation that we will witness in the next decade and thereafter develop an implementable growth strategy.”

Dorman Followwill, a partner and director at Frost & Sullivan, spoke about the importance of understanding megatrends, with Middle East megatrends including power generation and food security.