GCC business optimism is high
As the half year draws to a close it is time for businesses to conduct an engine check, according to Ron Ribeiro, Chief Executive Officer, Aryan Business Consulting.
He said that although the nuances of the unprecedented economic cycle continue, businesses are now able to operate with a much greater degree of knowing than one year ago. He also said that the region is set for growth.
“The GCC is an extremely important market to be in right now. Recent reports from the World Bank indicate 4.4 per cent growth in 2010, with 4.9 per cent expected next year.
“This beats expectations and proves a resilient market. However, it also suggests that competition will be stiff. A lean and effective business structure can be the make or break in times like this.”
Ribeiro was speaking in advance of a seminar on organisational assessment in Bahrain alongside America-based Robert Etten, President & Founder of Insight Solutions Group (June 22).
Etten suggested that organisations are ‘living organic systems’ that must be deliberately designed and constantly nurtured if they are to achieve their full purpose.
“We deliver a systemic process that is region-focused and perfect for this time of shift. We assess where the organisation is right now, what it wants to achieve, and what it needs to do to make that happen.
“With our microscope-like process, this approach challenges management with new perspectives. We study the organisation structure, people, work flows, technologies and strategies, he said.
Ribeiro cited a recent survey from Deloitte that indicates 69 percent of Chief Financial Officers (CFOs) in the region are more positive about the financial prospects of their company compared to the last six months.
“This optimism is a very good sign but should not lead to false hope. Given the recent cycle senior management would be wise to go back to basics. They need to ask few simple but crucial questions as they prepare for growth,” he warned.
“It has been a rough ride and the critical parts of an organisation can easily get out of alignment if left unattended. The biggest agenda for top management must be to build and sustain organisations that work to fulfil relevant missions and objectives, and meet customer expectations.”
He concluded that businesses which focus on a sustainable organisation structure will reap the benefits.