Skip to main content

Global CEO of Arthur D. Little speaks at UOWD

Thursday, 04 March, 2010

The West-East shift is one of the key signposts businesses should pay attention to in their growth strategies, advised Dr. Michael Traem, Global CEO of the global management consultancy, Arthur D. Little. Speaking in Dubai on the topic "Innovate Your Company, Dr. Traem said countries like China and India were demonstrating that the ongoing West-East shift would be accelerated further as they begin to use innovation to power their economies. The West-East shift is one of the seven Megatrends identified by Dr. Traem as key pre-requisites for achieving success in modern business; the others being Cost Issues, Regulation, Sustainability, Complexity, the new Middle Class and Technology. Addressing the alumni of the University of Wollongong in Dubai (UOWD) as part of the Universitys lecture series, Dr. Traem pointed out that companies from the East on Forbes 500 grew 19 per cent between 2005 and 2008, while their Western counterparts fell by 9 per cent. He cited examples of Indias motorcycle maker Bajaj and Chinas motorcycle industry to show how they are creating two-wheelers power by new technology without the use of petrol. Dr. Traem explained how industries connected to solar, nuclear and hydroelectric energy are on their way to long-term wealth as he stressed on the importance of sustainable energy. "Other factors weighing in favour of the East are rising populations, eager and willing-to-learn people, a large, qualified workforce, and a clear trend not to confine themselves to low-cost production, said Dr. Traem. "On the other hand, the West is faced by negative factors, such as declining population, slowing pre-dominance in innovation and a crippling impact of the recent economic crisis, added Dr. Traem. Elaborating on the other megatrends in the business world, Dr. Traem described technology as the essence of innovation and added that its importance was every increasing. "Technology drives and shapes future markets, and innovation incorporates technology into new businesses and services, creating growth opportunities, he said. Referring to the megatrend of Cost Issues, Dr. Traem said it involves re-thinking the entire process and business model, rather than mere cost-cutting, and cited the examples of Indias Tata manufacturing the small car Nano for just $2500 and Adidas plans to produce sports shoes for 1 Euro. Throwing light on the megatrend of Regulation, he said: "Regulation should not be looked upon as a burden, but more as an opportunity for companies willing to change and follow an innovation strategy. Companies can actually benefit through prudent compliance. Touching on the other megatrends, Dr. Traem said the new Middle Class was offering multiple opportunities for MNCs and B2C businesses; managing Sustainability through compliance with green issues was a key factor in achieving competitive advantage and Complexity referred to the growing challenge of operating in diverse markets with different regulations and new approaches. "Innovation is the secret of any company's success, but being innovative means much more than it did just a few years ago," says Dr. Traem. "Every process, function or system within a company may need to change in order to achieve a competitive advantage, and as such, innovation may lead to an entirely different business model. The harsh reality of the recent downturn has left many companies exposed and unprepared for such change but it is not too late to tackle these issues." Professor Mohamed Khalifa, Vice President (Academic), UOWD, introduced the speaker and announced that the second edition of his book "Innovate Your Company would be available later this month. Dr. Michael Traem is the Global CEO of Arthur D. Little and Chairman of the Supervisory Board of Altran Germany and Austria. A lawyer by training, Dr. Traem has an extensive background in management consulting, having previously held senior positions in A.T. Kearney and Celerant Consulting. He has published several books on management, including The Value Growers, After the Merger, Spearheading Growth and The 100 Day Myth.

UOWD in the news

Bodour Al Qasimi promotes Mohammed Al Musharrakh to CEO of ‘Invest in Sharjah’

By Gulf Today, Gulf News, Total UAE

Mohammed Juma Al Musharrakh had been appointed Chief Executive Officer of the Sharjah FDI Office (Invest in Sharjah). More...

UOWD hosts inaugural Middle East CASE Conference

By Yahind

Conference supports advancement of education in the region through shared insights and knowledge. More...

Indian Billionaire B. R. Shetty Is Now Venturing Into Higher Education

By Dubai Forum, Wealth-X

After building a healthcare empire in the U.A.E., Abu Dhabi-based Indian billionaire B. R. Shetty is entering the region’s lucrative higher education sector. More...

Sarra scoops multiple honours in rowing and swimming

By Khaleej Times, The Middle East North Africa Financial Network

Rising sporting star Sarra Lajnef continues to excel in rowing and swimming championships in the region. More...

Dubai Electronic Security Center Receives Overwhelming Interest From Regional and Global Universities For The AED 700,000 ‘Innovation In Cyber Security Award' Competition

By Dubai PR Network, Total UAE, The Middle East North Africa Financial Network

Call for submission for the ‘Innovation In Cyber Security Award’ has earned overwhelming response from regional and global universities. More...

UOWD logistics students tour Jebel Ali Port in Dubai

By Arabian Industry, Dubai Forum

The Master of Science in Logistics at UOWD has been running in the UAE for the last 10 years and is one of the region’s most popular postgraduate courses. More...

Career focus need not stymie personal advancement

By Gulf News Smart Edition

Commitment to study runs deep in employed aspirants, experts say. More...

Most postgraduate students are working people

By Gulf News,

Most of the postgraduate students in the UAE are working people, said universities in the UAE. More...

Chairman Of Dubai-Based University Awarded Order Of Australia

By UAE Today, YaHind, Dubai Forum, Dubai Informer, Go Dubai

Peter Robson, Chairman of the University of Wollongong in Dubai’s, UOWD, Board, has been awarded the Order of Australia, OA. More...

9th Sustainable Development & Inclusive Growth Congress discusses ways to achieve global sustainability

By Go Dubai

Congress focused on the need to follow the principles of sustainable development and inclusive growth to meet global challenges and global sustainability More...

Copyright © 2018 University of Wollongong in Dubai   | Privacy | Disclaimer | Site map

WhatsApp