AlMajdouie Group Celebrating as the No.1 Company in Innovation for Business Sector

AlMajdouie Group Celebrating as the No.1 Company in Innovation for Business Sector
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Published November 10th, 2010 - 14:48 GMT

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No.1 Innovative Company
,
Saudi Telecommunication Company
,
Saudi Electricity Company
,
Al-Watania Group
,
Inma Bank
,
AlMajdouie Group
,
Abduallah bin Ali AlMajdouie
,
Abdullah Ali Almajdouie
,
first regional organization
,
Innovabia

"I certainly agree that employees play a crucial role in the success of companies, and we must involve all employees to bring improvements at their work place, tapping their minds, exploring ideas & solutions" Those were the words quoted as part of the speech given by Mr Abduallah bin Ali AlMajdouie, President of AlMajdouie Group, at the celebration of No.1 Innovative Company in the business sector of Saudi Arabia, Awarded recently for the Group by Saudi Innovation Index 2010 in association with "AlEqtisadiyah" Newspaper.

The Group, moreover, had a celebration at Sheraton Hotel Dammam, on Sunday 31st of October 2010, for such accomplishment. The celebration attended by the Group managers, executives, Innovative program active members (SPARK) which the Group implemented since 2003 in order to engage the employees within Group innovative culture, work improvement and cost saving.

On the other hand, in a former press release "Innovabia" (Innovation of Arab Company) announced the results of annual survey "Saudi Innovation Index - EBTIKARNA 2010" recently carried out in the Kingdom of Saudi Arabia on the level of innovation in business sector for the first time ever.

Five local companies were declared winners in the business sector and three companies in the sub-domain. Almajdouie Group won the first place, followed by Henkel Arabia second, Saudi Electricity Company third, Saudi Telecommunication Company (STC) fourth, and Inma Bank fifth. While Zamil won in the field of vision and leaderships' commitment to innovation, and Al Jazeera in the products and patents of innovation to the market, the Al-Watania Group to invest in the Internet in creating the best environment for entrepreneurs.

Abdul Jabbar Al Abdul-Jabbar, Chairman of Innovabia said "Innovabia is the first regional organization specializing in the development of innovation management in terms of its contribution in building the Arab business community to the proficient management of institutional innovation for the Arab market to compete regionally and globally, and promote the concept of innovation in society, Saudi economy and the Arab world at large.

Recognizing the need for institutional innovation, Almajdouie Group launched its creativity and innovation program "SPARK" with dedicated team, back in 2003. Since then, more than 25,000 ideas have been generated by its employees that resulted in savings of SR 15 million.

Speaking on this occasion, Mr. Abdullah Ali Almajdouie, President of Almajdouie Group said; "Companies should see the change as both reason and license to expand their innovation horizon, to look high and low, outside and inside for innovative ideas. They have to accept greater responsibilities for fostering innovation within and beyond their organizations. Organizational culture that supports and encourages new ways of thinking, looking at problems, creating solutions and benchmarking how other organizations are doing things and then enhancing upon their processes is the hallmark of the successful innovator".

He added that employees play a crucial role in the success of companies, and we must involve all employees to bring improvements at their work and doing things better, faster, with better quality. In addition to tangible savings, employee ideas make the internal processes more efficient and in the long run, benefit the companies to deliver world class innovative solutions.

"Saudi Innovation Index - EBTIKARNA 2010" is first of its kind in the Kingdom to measure the level of Innovation readiness, practices and accomplishments of Saudi companies.

This survey will stimulate the interest in the basics and knowledge in the theories and the best practices in the systematic innovation field. The top management of organizations will be able to compare themselves with the rest in the innovation field. This survey also guides all organizations to revise and amend their strategies to consider innovation as an essential component in any competition locally and internationally. 

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