Smart Business - Pre launch Issue

Your Employees, Your Assets

Getting the best out of your most important resource

Making sure your business is legal

Freezones, sponsors and you

UAE PRE-LAUNCH ISSUE

WHY You Can’t Ignore AI ANY LONGER Artificial intelligence the time to ponder the impact on your business is over

electric cars are they the future?

Will the UAE be following the trend and retiring their gas guzzlers?

Editor’s foreword

Tanya Selley, Editor

Smart Business magazine is the editorial element of the Smart Business platform that will enable company leaders and entrepreneurs to connect like never before

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The Foreword

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elcome to Smart Business UAE, the magazine that will bring you all the highs and lows of being in business, together with the lessons that other people have learnt so that you are prepared, forewarned, and forearmed on your journey. Expect exciting news, and features on every important element of business from HR to finance, marketing to tech, as well as ideas to keep you sane and healthy. Smart Business magazine is your one-stopshop for all your business needs.

In this issue, we interview on page 12, Sudhakar Tomar from

Hakan Global, a company of over 1,000 people and offices in 30 countries globally. The fact that he is an official adviser to Narendra Modi, and listed in Forbes’ ‘Top 50 Indian Business Leaders in the Arab World’, meant it was a surprise to us when he opened up about his highs and lows while empire-building.

Tomar’s candid answers about his entrepreneurial life confirm that even those who have scaled the SME ladder and beyond, have been forged, to a certain extent, by their mistakes.

Elsewhere in the magazine, we pose a question to you… ‘Are your

employees your biggest asset?’ On page 14, we dive into the debate around how you can encourage your staff to be innovative and to keep your business flowing. While on page 22, we take a look at the market in which lifestyles are the stuff of dreams. In our article ‘Lux Life,’ Rosa Bullock from the marketing and PR agency, Sociate, provides marketing advice for competing against the big boys in a crowded sector.

What is evident throughout this issue is that the journey to success is tough, but the rewards are great...

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contents

Cover story

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UAE

Editorial Tanya Selley | Editor Email: t.selley@turretme.com Tel: 02 234 8435 Julian Pletts | Group Editor Email: j.pletts@turretme.com Tel: 02 234 8435

The rise of the machines

Creative and production Isabelle Abuso | Head of Design Email: i.abuso@turretme.com

Is it time to integrate AI into your operations?

Marlou Delaben | Graphic Designer Email: mdelaben@gmail.com Tel: 02 234 8435

Distribution

22 The lux life Aspirational marketing explained

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Simon Kitson | Circulation Manager Email: s.kitson@turretme.com Tel: 02 234 8439 | 050 896 4021

Display advertising Tel: 02 234 8400

Management Chris Fountain | Managing Director Richard Hease | Group Chairman

Turret Media twofour54, Park Rotana Complex, P.O. Box 77806, Abu Dhabi, United Arab Emirates Tel: 02 234 8400 | Fax: 02 234 6174

Future buzz Can electric car manufacturers get the UAE customer on side?

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And its effect on your business

Lessons learned with Sudhakar Tomar, Managing Director of Hakan Agro

If not, they should be – the experts explain why

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Register to attend the Smart Business Expo

All you need to know about crowdfunding

How to officially set a business in the UAE

Government Spending

Save the date

One-on-one

Crowd mentality

Are your employees your greatest asset?

Are you Legal?

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Commercial and residential options in Abu Dhabi and Dubai

Coping with Change – we revisit ‘Who Moved my Cheese’

This new capital hotel offers you the best of both worlds

Property listings

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Must Read

Printed by:

Media Licence number: 1/106185/20992 Great care is taken to ensure the accuracy of the contents of Smart Business UAE but the publishers accept no responsibility for any errors or omissions.

All contents are © 2015 Turret Media and may not be reproduced in any form without prior consent. Letters and readers’ contributions may be edited at our discretion.

Business travel Please recycle after reading this magazine

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IS the future really elecTric?

With low fuel prices, and miles of new highways, the UAE is a car lover’s paradise.

The future of motoring may be electric, but with the UAE’s passion for all things petrol, could it be further away here than you think?

By Iain Smith

“People increasingly demand electrified cars and we want to respond to our customers’ current and future needs” Håkan Samuelsson, President and Chief Executive, Volvo

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technology

W

hen it comes to the UAE’s love affair with cars, bigger is most definitely better. A drive down any of the country’s congested highways shows just how popular huge, gas-guzzling SUVs are in the Emirates.

According to the 2016 edition of the International Energy Agency’s Global EV Outlook, there were around two million electric cars (EC) on the road last year, with China, the US and Europe accounting for 90 percent of that figure.

In the UAE, a tradition of owning large vehicles, concerns over safety on the road and low prices at the petrol pumps means drivers rarely feel the need to downsize to something more economical or environmentally friendly.

However, with the global trend of rechargeable automobiles being championed by both car manufacturers and governments (France and England have both pledged to ban the sale of gas and diesel cars by 2040, with Norway doing it by 2025), is this tradition set to change?

Public Private Partnerships The Middle East has been slow to adopt this new technology on a large scale.

Nevertheless, thanks to a mix of government support, investment in infrastructure, a shift in people’s attitudes and improved performance, the UAE’s roads are beginning to make room for electric and hybrid vehicles.

In January last year, a convoy of seven Tesla cars set off on a road trip to visit all seven emirates to boost awareness of advancements in the technology powering the new generation of electric vehicles (EV). The journey began from Masdar City in Abu Dhabi, then to Fujairah before returning to the capital in time for the World Future Energy Summit.

Each travelled between 280-400 kilometers on a single charge, with additional charging arranged along the route.

A year later, the idea of EC on the region’s roads received the stamp of approval from Tesla’s Chief Executive Elon Musk.

Speaking at the launch of Tesla’s Model S and Model X vehicles in Dubai in February, Musk announced plans to invest in the region.

“Tesla is extremely committed to the UAE. We are going to put a major investment into the UAE and the surrounding countries. Our goal is to accelerate the transition to sustainable energy.”

The company currently has two supercharger sites in the Emirates, at Last Exit near Jebel Ali and Masdar City in Abu Dhabi, and 32 charging stations across the country.

“In the next year we are going to be building up supercharger stations to allow travel throughout the region,” announced Musk. “The combination of storage, generation and transport are the elements needed for long-term, sustainable growth and we will be offering all three of those in time here.”

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Dubai’s Commitment to Electric Dubai’s government has embraced EV, with the Dubai Green Mobility Initiative Committee set up to ensure 10 percent of all cars used by officials are electric or hybrid by 2021 as part of the country’s Vision 2021 strategy to promote clean energy.

In February, the emirate’s Roads and Transport Authority agreed to purchase 200 Tesla cars for Dubai Taxi Corporation’s limousine fleet, while the Dubai Electricity and Water Authority (DEWA) plans to build 200 multi brand charging stations (similar to those seen in Yas Mall) for official staff vehicles, as well as public use.

Saeed Mohammed Al Tayer, Chief Executive of DEWA, announced that the rate for public charging is 29 fils per KWh and said the ‘Green Charger initiative’ aims to establish EV charging stations across Dubai.

Bertrand Thiebaut, Senior Managing Director, Al-Futtaim Motors and Vice President at AlFuttaim Automotive Group told Smart Business, “We believe that hybrid technology (a mix of electric and petrol) is currently the most environmentally practical solution for the UAE. “It requires no additional infrastructure development, offers no compromise on driving range and does not impose any change of behaviour from the driver, while contributing to air quality improvement.”

The introduction of hybrid and EV into the market has, to date, had a limited impact on motorists’ attitudes within the UAE, but attitudes locally are changing.

Elsewhere a car’s green credentials are now as important as its safety rating and performance. Car companies have taken note.

“If I was asked [about the impact of EC] a few years ago, my answer would have been slightly

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“Tesla is extremely committed to the UAE. We are going to put a major investment into the UAE and the surrounding countries. Our goal is to accelerate the transition to sustainable energy” Elon Musk

different,” said Thiebaut. “Back then, we had been investing our efforts into building awareness about fuel-efficient vehicles that result in fewer CO2 emissions and other pollutants.

“The question today is not about low fuel cost but, rather, about the individual purchaser, as well as the corporation’s contribution towards cleaner air.”

UAE motorists

are becoming more sensitive to environmental issues, said Thiebaut: “We are expecting an uptake in demand for green vehicles across the board, including government entities, private sector businesses and individuals.”

To further boost the public’s desire for eco-friendly transport, the UAE government is working on an incentive programme to encourage motorists to buy electric or hybrid, while Emirates NBD bank is offering special car loan deals if customers go green.

Last year, Ajman exempted electric and hybrid vehicles from parking fees, while Sharjah has also rolled out its own EC charging stations.

Initiatives such as these are important in helping to persuade people to buy into and support sustainable modes of transport.

This drive from the public and governments alike is why other car manufacturers are following Tesla’s lead. Volvo Cars will introduce a portfolio of electrified cars across its model range, embracing fully EC, plug in hybrid cars and mild hybrid cars. They will launch five fully EC between 2019 and 2021, two of which will be high performance electrified cars from Polestar, Volvo Cars’ performance car arm.

“This is about the customer,” said Håkan Samuelsson, president and chief executive. “People increasingly demand electrified cars and we want to respond to our customers’ current and future needs. You can now pick and choose whichever electrified Volvo you wish.”

These cars will be supplemented by a range of petrol and diesel plug in hybrid, and mild hybrid 48-volt options on all models. This means that there will be no Volvo cars without an electric motor.

“This announcement marks the end of the solely combustion engine-powered car,” said Samuelsson, when talking about Volvo’s commitment to sell 1m electrified cars by 2025.

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The Technology As with all new technologies, rapid advances are being made all of the time.

Toyota, along with Masdar, ADNOC, and Air Liquide, are currently testing electric fuel cell technology.

“This is being done through Toyota Mirai vehicles, powered by hydrogen instead of external electric charging,” said Thiebaut.

The Mirai generates electricity through an onboard fuel cell stack, using oxygen from the air with hydrogen stored in the tank to power the car rather than a battery. This promises zero emissions and a driving range similar to traditional petrol vehicles, of around 500 kilometers.

“Most importantly,” said Thiebaut, “a hydrogen refilling time

The Facts Norway to ban Diesel and Petrol cars by 2025, UK and France to ban them by 2040 There is UAE Government support encouraging the purchase of EC DEWA plans 200 recharging stations Recharging with quick chargers takes 20-25 minutes Fully charged car runs for 130-160 kilometers Cars currently cost $30-40,000 although price is expected to drop

charging, quick chargers, capable of adding around 80kms of range with 20-25 minutes of charging, are increasingly becoming available so this issue will diminish over time.”

Also, the journey currently needs to be planned said Hammed, “The limited range is another concern. Given that a fully charged EC typically runs around 130-160 kilometres, users sometimes experience

their mark, Hybrid cars are increasingly more common on the UAE’s roads. The Lexus LS hybrid was made available in 2010 while taxi companies in Dubai and Abu Dhabi operate around 1,000 Toyota Camry LPG hybrid cabs. These emit around 33 percent less CO2 than regular petrol taxis.

Even in an oil-rich country like the UAE, EC still deliver “competitive”

“The question today is not about low fuel cost but, rather, the individual’s as well as the corporation’s contribution towards cleaner air” Bertrand Thiebaut, Al-Futtaim Automotive Group of 3-5 minutes, very similar to traditional petrol engine fueling, means no change in the driver’s behaviour.”

This cannot be said for all electrified cars though.

“There are many great things about EC no noise, pollution and cheaper maintenance, but there are also some

not-so-great things,” explained Imad Hammed, Co-founder of CarSwitch. com. “For an average EC, an hour of charging from a 240-volt source of electricity yields 30-40 km of runtime. If the user remembers to plug in the car every night before going to sleep, that fact won’t put a damper on their daily plans. What’s more, public direct

what has been termed ‘range anxiety’. Long trips are likely more difficult in an EV given the limited number of recharging stations in the UAE, however with advance planning it’s a challenge that can be managed.”

Vehicle Prices This technology does not come cheap, with Tesla prices for the Model S sedan starting at Dh275,000 and Dh344,000 for the Model X SUV. A lower priced Model 3 is due this year.

Options are limited, but Toyota’s Prius, was launched in the UAE in February, and costs between Dh89-97,000.

While pure EV are slowly making

mileage (0.18 per km) compared to traditional fuel-dependent cars (0.15 per km). When you consider DSOA (Dubai Silicon Oasis Authority) has free charging stations the numbers for EV are even more favourable. To top it off, EV don’t need an oil change and don’t have any exhaust system, their maintenance costs are exceptionally low.

With the reduction of the costs of the cars as the technology advances, and the ongoing increase in refilling stations, the possibility of EC as a business vehicle is also on the up. Culturally though, with the region’s reliance on petrol, their market impact may need a greater push from the government.

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The tightening, or loosening, of a government’s purse strings impacts every facet of society, from a family’s access to health care to a company’s ability to do business.

While the cash flows freely in times of prosperity, how does a country cope when the economic climate takes a turn for the worse and cash isn’t so easy to come by?

Is austerity the right move, or does spending your way to success make sense?

The Impact of Government Spending

By Iain Smith

economy

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ow a government chooses to spend its money has a significant impact on society, the economy and a country’s ability to do business. From paying the salaries of doctors and nurses to building new motorways, a government’s spending policy is intrinsically linked to a country’s development and prosperity.

Current spending is important as it provides people with the goods, services as well as care and protection they need day to day, while capital spending funds the creation of the roads and buildings that a modern, successful economy needs to grow.

The UAE is no stranger to investing in its development in order to boost its economy.

From nationwide infrastructure schemes, sprawling retail projects, grand housing developments and world-class tourism attractions, the federal government, and the individual emirates, do not shy away from spending in order to stimulate economic growth.

Investing in one’s country is a trusted economic initiative used

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“Government spending has a direct impact on the construction industry,” said Larry McGuinness, a civil engineer with 10 years experience working in the UAE and the Gulf.

“Typically this is in the form of civil projects like building ports, roads, rail, sewage treatment works, but can also relate to facilities such as healthcare, education and housing.”

“Spending on infrastructure and rapid development has attracted tourists and major companies to locate their regional head offices in the UAE” Larry McGuinness, Civil Engineer to spur growth; modern roads make it easier for businesses to import/export goods, building new homes expands the real estate market, mega malls, palatial hotels and soaring towers pull in tourists - not to mention the money pumped back into the economy by people and companies in work.

Although capital spending has its benefits, paying for these huge projects can prove to be less appealing in times of reduced income.

Since the oil price began to drop in 2014, the number of new projects breaking ground across the UAE has reduced.

The International Monetary Fund’s annual Country Report on

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Dubai has carried on setting big budgets as it pushes to deliver its Expo plans, including a new metro line and airport expansion.

The emirate has also continued to expand its tourist and real estate offerings with the ongoing Blue Waters Island and Dubai Creek Harbour projects. This commitment to capital spending has helped the UAE weather the worst of the storm brought about by lower oil prices. the UAE’s economic performance last year found that the country’s economy was subdued for most of 2016.

“Together with weaker oil prices and slower oil output growth, the postponement of some public infrastructure projects and a slowdown in global trade caused growth to moderate to 3 percent from 3.8 percent in 2015,” the report said. The report was published in July this year after a team from the IMF visited the UAE to collect economic and financial information.

IMF staff met with officials to discuss the country’s economic plans and policies.

A review by programme management consultancy Faithful and Gould of the $22 billion in construction deals awarded in the UAE so far in 2017 found that mega projects had dropped compared to previous years. Only two - Nakheel’s Deira Mall and ICD’s One Zabeel project - stand out in terms of their large scale.

“The reduction in mega schemes can be broadly explained by a level of high selectivity by developers, constrained funding and a bias towards areas where the masterplan is complete and therefore infrastructure burden is minimised (e.g Downtown, Business Bay),” said David Clifton Regional Development Director, Faithful and Gould, which released its Construction Intelligence Report in July.

“As funding issues start to ease, we expect new masterplans will move through to construction.”

diversified and business-friendly economy are helping it cope with the shock,” the IMF report stated.

“Although oil is trading in the mid to high $40/barrel, the effects of this lower than expected price point are being weathered better by the UAE than most of the GCC,” said Clifton. “This has been confirmed by Abu Dhabi’s sovereign credit rating being reaffirmed as AA.”

The Economy Overall Although in general Gulf countries are heavily reliant on revenues generated by oil and gas reserves to fill government coffers and fund spending, the UAE has done a better job than most of coping with the drop in prices. “The UAE’s financial buffers, safehaven status, sound banks, and

The Impact of Expo 2020 Earlier this year, Sheikh Ahmed bin Saeed Al Maktoum, second deputy chairman of Dubai’s Executive Council and chairman of the Economic Development Committee, announced Dubai plans to spend Dh47.3 billion in 2017, with around Dh11bn of Expo 2020 construction contracts expected to be awarded.

The Importance of Infrastructure “Spending on infrastructure and rapid development has attracted tourists and major companies to locate their regional head offices in the UAE,” said McGuinness.

“It has made doing business much easier and also increased quality of life for residents.

World-class infrastructure has

“The UAE is now a desitnation of choice for tourists and an attractive emerging market for businesses to enter. Infrastructure spending, supported by the government, has enabled this” Larry McGuinness, Civil engineer According to data from the Emirates NBD/IHS Markit purchasing managers’ index (PMI), non-oil business was at a six-month high in January. The country is on track to be the Gulf’s strongest economic performer in 2017, which bodes well for future spending projects.

However some challenges remain, said Clifton. “The economy is still growing, but there is uncertainty and in the construction industry, growth isn’t overly evident in H1.

“Given that the Emirates, similar to other GCC states, have historically back ended [construction] awards in Q3 and Q4 there would appear to be some cause for optimism.” This has allowed Dubai to continue with capital spending commitments on large-scale legacy projects such as Expo 2020.

helped the UAE attract and retain other secondary and tertiary industries, which is diversifying the economy and reducing the reliance on oil.

“The UAE is now a destination of choice for tourists and an attractive emerging market for businesses to enter. Infrastructure spending, supported by the government, has enabled this.”

Governmental Change in Policy When the oil price began to dip in mid-2014, Abu Dhabi reduced its capital expenditure. However, the emirate has recently been encouraged by the IMF to start spending again, prompting hopes it could revisit postponed projects.

This, along with the planned introduction of Value Added Tax in January 2018, will be a major boost to the country’s economy and its spending power.

“With the expected revenue of AED12 billion in 2018 from VAT, the federal government will have further flexibility to invest in social infrastructure - such as schools, hospitals and roads – which should act as a boost to the market,” said Clifton.

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Leadership

INTERVIEW

Sudhakar Tomar

Managing Director, Hakan Agro DMCC By tanya selley

Coming from a farming family in India, Sudhakar Tomar, the charismatic Managing Director of Hakan Agro, has come a long way. Now overseeing arguably the most extensive agro-commodities focused supply chain of any UAE headquartered organisation, his business is booming

H

e meets me in his large office in the DMCC, with sweeping views across Jumeirah Islands and beyond. The mahogany wood furniture accentuated with chrome and glass, and the designer sofas all serve to illustrate just how far Tomar has pushed himself and his business. A self made entrepreneur and on Forbes “Top 50 Indian Business Leaders”, Tomar has offices, factories, distribution hubs and farming operations in 30 countries.

Now Hakan Agro (which was established in the emirate in 1996) supplies over 2.5 million metric tons of food commodities, from 50 countries of origin. This is valued at over AED 5 Billion to more than 1,000 customers in over 100 countries.

Having previously worked in trading and management roles with the multi-billion dollar Aditya Birla Group in India, Syria and Turkey, he proudly tells me that he now serves on the board of various organisations: “Including the Dubai Food Trade Advisory Group of DMCC, The CXO Alliance, Krishna Education Trust and I am an official adviser to Narendra Modi’s government.”

And proud he should be, with over 22 years of industry experience, Tomar was recently bestowed with the ‘Grain Asia’ and ‘International Pulse Man of the Year’ awards for outstanding contribution to agri-commodities trade, but it is his work with the Global Pulse Confederation which outside of his daily duties is the most fulfilling,.

“This organisation represents 60 million tons of production, valued at US$100 billion. We have a keen interest in rural poverty alleviation and global malnutrition in Asia and Africa. This initiative has helped to raise over US$3 million that was used to create awareness about global malnutrition and the use of pulses as a solution to combat this epidemic.”

You have had an interesting career path…

My story has quite a few twists. My initial years were spent amongst the struggling farming community in a rural part of

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northern India. I never thought I would end up doing a full circle!

My first breakthrough came in the early 90s when I found myself trading commodities with Aditya Birla group in India. In 1995 I came to Dubai to trade commodities in Jebel Ali Free Zone.

Due to my experience, I became aware that the agri-business is a complex, yet a socially responsible and profitable business, where trade and governments need to balance the wellbeing of farmer’s versus their own commercial interests. We often overlook about 2 billion farmers all over the globe, yet they are the largest investors in the food supply chain followed by traders, governments, processors and consumers. It is my firm belief that poor farmers, especially in emerging economies, must be considered as the strongest link to any strategy for long-term agri-business. We must ensure that our investments in agriculture are socially, economically, and environmentally sustainable.

Why did you choose the UAE to start your business?

Frankly speaking,we have not faced any major barriers to starting our business. The UAE is quintessentially a trading hub, that has existed for over one hundred and fifty years. It is full of an infectious and positive entrepreneurial energy. It offers so many fantastic benefit propositions; such as stable government, safe place to live, easy liquidity, a strategic

“If you have not fallen, then you have not yet learnt to walk”

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30 percent of our clients include companies that are both buyers and sellers as clients.

location with convenient time zone, great infrastructure, no taxation of any kind on profits or personal or company income, no foreign exchange controls, no restrictions on capital movement and freehold ownership of property, so it made sense for me to start my business in the UAE. What made your organisation so successful?

In today’s world, the key to success for any organisation is keeping the interests of the team aligned with the organisational objectives, managing diversity and handling change effectively.

We have an experienced core management of diverse cultures, capabilities, backgrounds and complimentary strengths. Despite the different approaches and management styles, the core management team stick together in every situation. Consensus is that we always continue until we get what it is that we are striving for. As an organisation we value the continuity of business and pride ourselves as being a family owned, yet a professionally managed business. We continue to place great value on our long-term relationships – some of which are as old as the organisation itself.

We are lucky as we have a built a local work force. Of our 1,000+ team, we have employees from 50 nationalities and all have a common working culture whereby the team members have interests aligned with the organisation.

Competition is rife in your business…

It is and yet we don’t compete - we cooperate and collaborate. About

“We continue to place great value on our long term relationships – some of which are as old as the organisation itself”

What do you attribute your success to?

I always have great respect for those who are detailed and work hard with an ownership mentality, regardless of their position. Over the years I have also learnt how to separate the important from the urgent.

Like any active manager I believe in details and specifics. I am a firm believer in a strategic long-term vision, with a practical approach that delivers sustainable value for all involved – both the investors as well as the employees.

Every entrepreneur makes mistakes. What is your most memorable one?

[Tomar laughs loudly] Yes, many…

If you have not fallen, then you have not yet learnt to walk.

The most memorable was made very early on in my career and was on a financial shareholding (or lack thereof), in a business venture resulting in disproportionate risks versus rewards. It took me several years to emotionally recover from that blunder, but I learnt the lesson that in business, you should seek experienced third party dispassionate financial advice before committing yourself.

In business, whom do you most admire?

Bill Gates and Warren Buffet who have used their good fortune for greater good. Together they have pledged about US$70 billion or more than 70 percent of their net worth for charitable causes.

What is the best piece of advice that you have been given?

My father taught me my guiding principle in life… you should never forget where you came from, and be thankful to those people and places that shaped, supported and guided you in your journey.

If you could give an entrepreneur one piece of advice, what would it be?

Surround yourself with happy, successful and positive people who are really good at doing all the jobs that you are not. Never be afraid to listen and correct what others have to say, but know the fact that you and only you are the best judge of your strengths and weaknesses.

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Are Your Employees Your Greatest Asset?

By Tanya Selley

Contrary to popular belief, your employees should be classed as a company asset because without them, the business won’t flourish. When utilised correctly they are a source of innovation that will enable your business to thrive even in the most challenging of circumstances human resources

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uman capital tends to be the part of a business that is most often under used, under developed and a challenge for leaders in business all over the world.

In a recent Harvard Business Publishing Survey of 76 industries in 131 countries, the 15,000 company executives confirmed that 68 percent of businesses surveyed are not confident that their company has the necessary leadership talent and business skills to achieve their strategic goals.

The best place to start is by reviewing business processes, and empower employees by something as simple as giving them a voice. With people like Jeff Howe, the technology journalist, applying the term ‘crowd funding’ when he discusses software giants that use the general public (and their own employees) as their valuable source of ideas for new games and software, it should be no surprise. And yet the process of companies unlocking this valuable resource is still not mainstream business. While surprising, a look at the structure of organisations however, reveals that the rigidity of the enterprise is normally the reason why they cannot achieve this idyll.

Charles Leadbetter who wrote ‘We-think: Mass innovation not mass production,’ makes the point that people in big corporations want to progress in careers and not put their careers on the line by going against the grain - “Big corporations have an in-built tendency to reinforce past success.” This can make it difficult for a business to learn how to move forward.

This acknowledgement that employees hold the key to the future is evidenced in many technology companies.

When asked about the ‘20% rule’, Laszlo Bock, ex SVP People Operations for Google explained that if an employee has an innovative idea that is separate from their regular

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jobs, they will be able to focus five or 10 percent of their time on it, until starts to ‘demonstrate impact.’ “At that point, it will take up more of their time and more volunteers will join, until it becomes a real project.”

In his TED talk, Leadbetter suggests that we should look at collaboration with employees to achieve greatness. He asks, “Who invented the Mountain Bike? It came from young bikers mainly in northern California who got brakes from motorbikes and frames from bicycles, and put them together. They were known as clunkers, and it took big companies about 10/15 years before they realised that there was actually a market for them. 30 years later, mountain bike sales account for 65 percent of sales in the US and $58bn in revenue. This is a category created entirely by customers, because the big business did not have the incentive to innovate.”

Your staff has the interaction with clients to learn the information you need to revolutionise your industry. If you use your assets correctly, you will know it too. The question ultimately remains; do you want your business to be known as the enterprise with no incentive to innovate?

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Save the date The upcoming launch of a new expo in the UAE promises to help you supercharge your industry connections, find investment and drive forward your business like never before events

I

n business, efficiency is everything. And when it comes to making key contacts, being exposed to the latest trends in your industry, and seeking investment opportunities, events can be the most efficient way to apportion your time. One such event that you should definitely be taking note of is the upcoming Smart Business Expo - the latest entrant into the UAE’s business calendar. So mark your diary today and register to attend.

Supported by the Abu Dhabi Chamber of Commerce, the event will bring business owners and decision-makers together for the largest business-to-business forum in the region, catering specifically to the needs of SMEs from October 25th-26th at Abu Dhabi National Exhibition Centre.

SMEs account for 94 percent of companies operating in the UAE and make up a share of GDP totalling 60 percent. The Smart Business Expo will connect entrepreneurs and start-ups, with investors and established businesses in order to help generate sales and build longlasting relationships for business growth.

A series of business workshops and seminars held during the event will address the key trending topics affecting SMEs in the region, including the introduction of Value Added Tax, which is due to come into effect in the UAE on January 1st, 2018.

“Smart Business Expo is the perfect platform for the region’s SMEs to meet potential business partners, to create a strong and clear presence

in their chosen market, and to quickly and easily generate new business leads and sales, by simply interacting directly with solutions providers and potential customers in one convenient location,” said Chris Fountain, Managing Director of Turret Events, the organisers of Smart Business Expo.

“At Smart Business Expo, SMEs and startups looking to raise investment will be able to pitch ideas directly to investors, venture capitalists and business incubators in order to potentially raise capital for future expansion and development plans,” he added.

To find out more and register to attend visit SBEXPO.ae

How to get the most from attendents at the Smart Business Expo: •

Study the agenda before your arrive and sign up to the workshops and roundtables that will be of most value to you and your business

•

Do your homework regarding the exhibitors, so you can target the ones you might want to do business with

•

Don’t forget your business cards!

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17

technology

T

here has been a surge in software vendors introducing AI into their products due to all the interest that is in the market place at the moment. This movement, although believed to be creating confusion with the end users, is predicted to have such an impact, that by 2020, AI technologies will be virtually inescapable in almost every new software product.

AI refers to systems that change behaviours without being explicitly programmed to do so. It ‘learns’ this behaviour from the data collected, usage analysis and other observations. While there is a widely held fear that AI will

The Rise of the machines According to news headlines around the world, the rise of the machines is coming, and this will affect – even possibly replace – humans in all areas of enterprise. The affects of artificial intelligence (AI) are already being felt, but within the next two years, businesses will have no option but to embrace it

By Tanya Selley

replace humans, the reality is that today’s AI and machine-learning technologies can and do greatly strengthen human capabilities.

Once trained, machines can actually do some tasks better and faster than humans, and yet those working within the field of AI take pains to point out that the combination of what machines and humans can accomplish when working together, will drive AI to a far higher level.

The interest is out there The interest in AI is certainly on the increase. In May 2017, the term “artificial intelligence” was the term ranked at No. 7 on Google, and according to Accenture, the UAE is ahead of the trend when it comes to interest in AI. The management consulting company states that 76 percent of UAE consumers are comfortable with an AI application

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responding to their query, compared with 44 percent globally.

It also notes that 82 percent cite ‘24/7 availability’ as a key advantage of AI. There were two stand out reasons that UAE respondents gave most often for this demand, and these were an interest in learning new skills and techniques using Augmented Reality (AR) and Virtual Reality (VR) (36 percent) and meeting others virtually (34 percent).

In Accenture’s ‘2017 Digital Consumer Survey’ report which focuses on quantifying consumer perceptions of digital devices, content and services, preference

and trust in service providers, and the future of their connected lifestyles, 26,000 consumers, aged 14-55 in 26 countries were consulted. They found that UAE respondents are more attracted to the hyper-personalised services than their global counterparts, with nearly two-thirds of UAE consumers believing that tracking online behaviour and shopping history helps provide them with a more personalised experience, compared with less than half of all respondents globally.

Such is the demand, that the UAE is already leading the charge

“many software providers are looking to stake their claim in the biggest gold rush in recent years” Jim Hare, Research Vice President, Gartner

technology

services markets and is helping make this the year when artificial intelligence goes mainstream,” said Gerardo Canta, who leads Accenture’s Communications, Media and Technology operating group in the Middle East, Africa, Russia and Turkey.

Business strategy This popularity has not gone unnoticed by businesses consultants who are now advising clients as to how AI can, and should, be used as part of their digital business strategy. Gartner Inc. predicts that by 2020, AI will be a top five investment priority for more than 30 percent of CIOs. “As AI accelerates up the hype cycle, many software providers are looking to stake their claim in the biggest gold rush in recent years,” said Jim Hare, Research Vice President at Gartner. “AI offers exciting possibilities, but unfortunately, most vendors are focused on the goal of simply building and marketing an AI-based

“The fact that more and more UAE consumers are comfortable using voice assistants, gesture control and eye movement is helping make this the year when artificial intelligence goes mainstream” Gerardo Canta, Communications, Accenture MEAR

when it comes to AI. In Dubai, AI will provide the intelligence for one of the world’s first flying taxi services powered by a drone by the end of this year. And the UAE AI and Robotics For Good Award is fostering creative innovations that will deliver life-changing benefits in healthcare, education and humanitarian aid.

“The fact that more and more UAE consumers are comfortable using voice assistants, gesture control and eye movement on mobile devices and at home is encouraging for the devices and

product rather than first identifying needs, potential uses and the business value to customers.”

In order for a business to capitalise on AI, there are three key areas that they need to understand.

Confusion is rife The market for AI is rapidly growing with both start-ups and established vendors all claiming to offer AI products. However, in light of no actual distinction between the products offered, there is substantial confusion for decision makers. Gartner claim that there are more than 1,000 vendors with applications and platforms that describe themselves as AI vendors, or say they employ AI in their products. They feel that the

vendors are now “AI washing” by applying the AI label a little too indiscriminately.

To build trust with end-user organisations software producers should focus on building a collection of case studies with quantifiable results achieved using AI. Hare suggests that businesses should look for products that illustrate exactly what the, “AI offering is and what problem it solves.”

Address end-user needs While all the noise surrounding AI tends to focus on complex tasks, there is great value in the more straightforward, proven approaches. Gartner recommends first using the simplest approach that can do the job instead of searching for the most cuttingedge of AI techniques. For example, use an existing vendor’s software with cognitive capabilities, such as Salesforce, who is adding Einstein features into it’s customer facing software clouds. This will enable them to automatically capture sales leads and score them accordingly, read client emails and monitor social networks.

Getting an ROI A lack of the skillset that will enable an enterprise to successfully engage, roll out and evaluate the ROI scares many businesses and needs to be addressed for an AI strategy to be successful. With the increase of consultants moving into this field, the growth in embedded or packaged AI solutions will also expand. These packages should be considered as a first port of call for businesses as this will enable companies to sidestep the skill shortage and build an in-house solution suitable for their needs.

With an industry so new, it is understandable that people want to take the wait and see approach as to how AI will impact their enterprise, but in an industry that is so rapidly evolving, is this really the most sensible option for your company? Only time will tell. One thing is for certain… like it or not, AI is here and its impact on us all will only increase over time.

(Continued on page 20)

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19

technology

AI in action

You may use AI everyday. Siri, Google Now and Cortana are all personal assistants that use AI. These apps enable you to ask for information, and will then relay the answers back to you by connecting to either the internet, or other apps. Cortana developers Microsoft say that it, “continually learns about its user” and that it will develop the ability to anticipate the needs of the handler. And there is more…

AI for Business Are you using these?

If not, should you be…?

Human Resources HR Departments may already be using technology called Restless Bandit, a SaaS product that automates the task of screening applications, finding matches and even contacting and arranging the interviews. This technology therefore significantly reduces the workload.

Tesla If you own a Tesla, then your car will learn everything about you. A Tesla car is packed full of AI technology, and these cars get smarter over time due to their over-the-air updates.

Netflix Netflix provides accurate predictive technology that is based on the viewer’s reactions to films. Using the data collected, it will go through the information to bring you ideas of what you should watch.

Aviation For all those who fear flying, don’t worry - AI is used on the planes so 90 percent of the time, no one is flying anyway. Commercial flights use an AI autopilot and the New York Times reported that the average Boeing flight is only flown by a human for seven minutes during take off and landing.

Email Spam Filters AI is the unlikely place, but you will find the technology learning words and messages to enable them to determine what is spam and what is not.

Smart Email Categories Again in your emails, companies like Google have devised ways of their technology learning how you respond to emails, so it can prioritise the importance of your emails, putting the principal ones into the priority box.

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Dragon Diction From Nuance Communications, this programme is easy to use and converts your voice into text and email messages, so you can speak and then instantly see the message you are sending. The makers claim that this is up to five times faster then using a conventional keyboard.

Procurement SMART by GEP is a cloud procurement platform that provides comprehensive analytics on spending, savings, sourcing, contract and supplier management, and procure to pay.

Through this one app, businesses can get daily visibility on spend which will enable them to identify ways of saving.

Apptus As all business wants to increase their sales, another business has come along with an app that will help you do that. Apptus eSales solution will automate merchandising based on a predictive understanding of the consumer, as it learns what they may like to buy based on their online searches.

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need to know

The Lux Life by tanya selley

In this digital age, where everyone can see the lives of almost anyone, marketing a luxury product is now selling a lifestyle

marketing

E

Cartier

xclusivity no longer means elusive. Social media has transformed the way luxury items are perceived. What was once a class differentiation, luxury items are coveted now more than ever before, and people will now see handbags and watches as investments, saving their hard earned money to make the purchase so that they can feel a little bit more in sync with the people they follow on social media platforms.

It is no surprise, that to capitalise on this, businesses are appearing to fill the gap between those that have and those that have not. Here in the UAE, for instance, you can buy memberships to beach clubs, or you can gain access to the clubs

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without the membership and the associated price tag, yet at a price that will still exclude huge swathes of the public. Private airlines are also popping up, where you can buy a membership that enables you to travel privately with just a handful of other people, as opposed to your having to rent the whole plane. As Rosa Bullock, Managing Director of the PR agency Sociate explains to Smart Business, “The increase in people wanting to emulate certain lifestyles has meant that there are an increasing number of businesses that will give them a slice of what they desire. These businesses are also catering to the luxury market, and competition is tough. Now, more so than ever before, branding yourself correctly is key to your business success.”

Yet these smaller businesses are still competing against the big name brands. McKinsey states that 50 percent of luxury goods buying decisions are influenced by what consumers hear or see online. This has therefore seen a rise in top luxury brands like Cartier, Gucci and Rolex to move their budgets away from traditional advertising, into digital marketing.

“With all forms of marketing, there are certain points that you need to think about,” explained Bullock, when speaking about how businesses can grown their own brands, and how starting with the story is the first thing to consider.

The story is everything A luxury brand is the opportunity to showcase the lifestyle and the values

need to know

50 pc of luxury goods buying decisions are influenced by what consumers hear or see online – McKinsey

“Now, more so than ever before, branding yourself correctly is key to your business success” Rosa Bullock, Managing Director, Sociate

Action Points Understand your client base to create the relevant tie-ins Don’t be afraid to be visible digitally When strategising, remember to inspire Use hashtags and the public to create a buzz

of the consumer, says Bullock. Luxury brands need to know what is desirable and to whom.

They then need to create a ‘tie-in’, which could be something as simple as a short video. Bullock explains: “For example, a bag and clothing company that is inspired by the impact images surrounding the concept of ‘fun’ and aimed at women in their mid to late 20’s, can produce a video with young adults running in and out of the sea in their clothes, laughing happily.”

Burberry already successfully blends their heritage with a modern twist. Their narrative, quintessentially English, sees them mixing their Burberry tweed with influencers to leverage their brand.

“It shows that the people who wear their products are expressing their desire to be a part of brit-girl chic. They are able to express this through their aligning themselves with the brand. Brands need to remember that purchases are a form of self expression.”

Be Visible Even the most exclusive of brands are highly visible online. Take the Hermes Birkin bag that is regularly being shown on the arms of any Karsdashian and other celebrities: “The Birkin may be visible, but it is highly exclusive

and notoriously difficult to purchase. That said, Hermes have other luxury products that can be purchased and people do so to align themselves with uber luxury that is, quite frankly, unobtainable for 99 percent of the population,” says Bullock.

Inspire “Marketing is about making people feel emotions. Luxury brand marketing is about inspiring people,” Bullock explains, when discussing the difference in approach between a luxury retailer and any other. “Carrefour for example will post pictures of families eating pizza’s sat around their dining table. But an A-list restaurant should only post pictures of other celebrities attending events and eating at their establishment. Either way, both brands are creating memories, just at differing levels and markets.”

Create the buzz The more interaction you gain with your brand, the more you can prepare them for things to come. “Apple is a perfect example of this. Slowly, they ‘release’ little bits of information that gets their customer base excited and then they have the big reveal event to tell the world what is what,” Bullock explains.

Social media is fun and the perfect platform to be

able to do this and spread the rumours surrounding the brand, “When we have a restaurant opening, we create a hashtag that then becomes associated with the events. It also enables you to collate all the photos and memories that you can harvest when you need new promotional material – before and after the event itself.”

If you look at the Instagram account of Dolce & Gabbana, you will notice that they use a percentage rule in their posts, with 70 percent internally generated content, compared to 30 percent customer generated content. This enables their message to spread further as these posts are then re-shared.

“It also induces a brand loyalty,” says Bullock.

“Who wouldn’t love a big shout out in front of the world that you are part of their pack? Again, this method will not just see people reposting their pictures, but also tagging D&G again in the hope that they are shared in the future.”

Bullock continues: “The only real way for any brand to stay relevant is to be digital.

Luxury brands need to compliment and structure their propositions and aspirational cues by using the correct people, imagery and create the right lasting impression. Do this, and they will go a long way.”

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need to know

Walking in Crowds By tanya selley

Crowdfunding isn’t new to this region, but in a sector only three years old, it is gaining an unprecedented momentum, while businesses and investors alike, flock to the sites to make money finance

F

or businesses, crowdfunding is a way of gaining individual sums of investment from the general public, who will pull together with small sums of money to make the total investment being requested. For investors, they can evaluate the risk and invest as little or as much as they like, making returns of up to 12 percent per annum.

A common notion in the UK and USA, the first peer-to-peer lending site was launched in the UAE three years ago and has, to date, provided over $272,249 (dhs1 Million) in funds for enterprises in the UAE. By applying technology, the sites are able to connect a company to a crowd of

“Banks generally reject between 50-70 percent of SME loan applications.

This hampers growth on a huge scale” Craig Moore investors, which in turn can eliminate the cost and complexity of traditional finance options as Craig Moore, CEO of Beehive explains: “The result is that SMEs funded on our platform get faster access to lower cost finance, and investors get better returns and a diversified risk. The relationship between investor and business is mutually beneficial.”

Business Benefits This mutual relationship between both investor and business is key to the success of the partnership. Business plans are presented to the masses,

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need to know

The Facts

Eureeca and Beehive have enabling the company told Smart Business that seeking finance to obtain Regulation of the not just a base of customers, they have a very thorough industry is coming but also the funds that they vetting process of the need to move their business businesses that they allow Investors can get up to the next level. onto their sites. They both high rates of return “To put it simply, it have rules and facilitation makes the process far easier processes in place for Businesses can than raising offline. An protecting all involved. obtain the money entrepreneur will still need “We conduct very they need with to work hard. A business thorough due diligence less paperwork, lady summed it up perfectly on each business listed on and lower interest rates when she said, ‘Fund raising Beehive and we facilitate the is a full time job. You made finance agreement between it a part time job, mainly the business and investors,” from the comfort of my own explains Moore. laptop.’ We make the process easier,” As this market increases it appears Christopher Thomas Co-CEO and Cothat the regulation will too. The Dubai Founder of Eureeca, a crowdfunding Financial Services Authority (DFSA) platform, tells Smart Business. launched their second phase in the proposed framework for the regulation The market opinion backs up this of peer-to-peer lending sites within platform’s claims. the DIFC. “We inquired about loans from As this funding practice becomes a banks in the UAE and found the interest more established form of financing in rates highly unattractive and repayment the UAE for the SME sector, the DIFC terms inflexible. There’s also a lot of red tape and criteria that make the process even more unappealing,” explains Dany El Eid, CEO of pixelbug. He was offered rates between 20-26 percent in terms of “The result is that SMEs repayment over 12 months, “There were funded on our platform get penalties that also had to be considered faster access to lower cost for early repayment too, not to mention finance, and investors get that I was asked for an insane amount of documents…” better returns” Craig Moore It was the flexible funding solutions that piqued his interest the most. “The benefits of using through the DFSA are proposing that these platforms from my perspective there is regulation surrounding the are the lower interest rates, flexible specific requirements of platforms repayment terms,” he said. to contribute to the sustainable This is no real surprise when you development of this valuable funding look at the facts; SMEs represent 90 source for SMEs and the UAE economy. percent of total businesses in the UAE, Ian Johnston, Chief Executive at but find it difficult in gaining access the DFSA said in February, “This to credit, with Moore claiming that: is our second consultation on our “banks generally reject between 50proposed framework for regulating 70 percent of SME loan applications. crowdfunding platforms and This hampers growth on a huge scale; reflects the increasing importance SMEs in the UAE are major drivers of of this funding source to the UAE’s employment and GDP growth, this SME sector. Our approach remains lack of available funding is a critically consistent for loan-based and important factor. It is this scarcity of investment-based crowdfunding capital that is hampering the growth platforms in its aim to define a of the UAE economy and has led more clear structure for the sustainable and more people to review the options development of this industry.” that alternative finance solutions can The aim of the DFSA is to ensure provide to help fill this funding gap in that there are tailored regimes this area.” designed for operating these This scarcity of finance is great news platforms, with the appropriate to investors and want-to-be-investors. systems and controls in place for the protection of all concerned.

Regulation With increased transparency and This capital shortage has meant that safeguarding being key across all businesses are reaping the rewards, platforms, whether an investor or but what about the investors? With borrower, you know your money is in such great returns on their deals, is safe hands. their money really that secure? Both

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25

need to know

Setting up a business anywhere can be a minefield if you don’t understand the law. For businesses to operate in the UAE there are many ways that you can legally set up your business, it is no wonder that people often get it wrong

are you legal?

“

Y

ou need to identify the nature of the business. Is a business dealing in physical goods or will you provide services?” Asks Ludmila Yamalova, Founder and Managing Partner, HPL Yamalova & Plewka DMCC, “Your answer will determine if you will set up in a free zone or outside, under the authority of the Department of Economic Development.” Which in laymen’s terms means you can ascertain if you need to set up on or offshore.

Onshore or Offshore?

An onshore company means you can trade freely within your licensed emirate and beyond but you do need a local sponsor. This is a Emirati citizen. In some cases this can mean that the ownership of your business may not exceed 49 percent, with the remaining 51 percent being owned by an Emirati. In other cases, your sponsor may agree to an MOU that would

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entitle you to operate with full ownership of the business.

Alternatively, you can retain complete control and ownership of your business by setting up in a free zone.

This will enable you to legally transact business only within that free zone, or abroad.

Both options provide the benefits of zero percent income tax (although under new legislation that is being imposed, you will have to declare yourself tax exempt of five percent VAT), to obtaining full residential status in the UAE. The resident visas can be issued to directors, shareholders and employees and are available for three years. The maximum number of visas per company is dependent on several factors (like the size of your office), but a PRO consultant will be able to assist you with this.

Useful links For more information on setting up businesses in the UAE, please refer to: Setting up in a free zone http://urltrim.co/61l1HN Dubai Government http://bit.ly/2wrbcdo Abu Dhabi Chamber of Commerce http://bit.ly/2y8arrL RAK Chamber of Commerce http://bit.ly/2fkXPWq Fujairah Chamber of Commerce http://bit.ly/2f7Tx7Z

Business Types Some types of industry, for example an oil and gas company, legally require a local sponsor to retain 51 percent of the business.

Alternatively, other sectors, like a print manufacturer, can use a local sponsor that will happily sign an MOU enabling the business leader to retain full ownership of their business.

It should be noted, that with the introduction of VAT, from January 1st there would be a greater transparency into businesses and how they are set up. At this moment in time, the geographical limits are not so heavily enforced, but with increased governmental regulation, this looks set to change.

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 www.khidmah.com |     

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property - dubai

INVESTMENT OPPORTUNITY SE7EN Residences is an exclusive property offering luxury residential apartments. Prices start from AED 752,000 for studios, AED 1,03 mil for 1 bedrooms, AED 1,99 mil for 2 bedrooms and AED 3,55 mil for 3 bedrooms.

Apartment sizes range from 302sqft to 499sqft for studios, 500sqft to 874sqft for 1 bedrooms, 1,032sqft to 1,151sqft for 2 bedrooms and 1,540sqft to 1,707sqft for 3 bedrooms.

Completion is December 2019.

THE PERFECT LOCATION This project is located on the trunk of Palm Jumeirah, opposite Nakheel Mall, and next to DUKES Dubai Hotel - just 10 minutes drive from Dubai Marina and Sheikh Zayed Road and 45 minutes from Dubai International Airport.

OVERVIEW AND FACILITIES This development has spectacular beachfront views over the Arabian Gulf, Dubai Marina Skyline and Burj Al Arab. It provides residents a desirable all-in-one way of life; luxury, convenience and harmony. Facilities includes a rooftop infinity swimming pool, fully equipped gymnasium, food and beverage outlets, direct beach access and retail outlets such as a gourmet grocery store, laundry services, pharmacy and many more.

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property - Dubai

INTERIOR AND FINISHING SE7EN Residences have been designed to fulfill your every need. Apartments are sold unfurnished with luxury fittings and finishes complemented by floor-to-ceiling windows.

Bedrooms feature soft drawer walk-in wardrobes and en-suite bathrooms with rain showers and floating vanities. Kitchens are fully fitted with white goods and cooking range appliances plus breakfast counters.

Each apartment boasts separate air conditioning controls, giving the owner full command of the environment.

PAYMENT PLAN This project has an attractive payment plan and you can book your unit by paying as little as 5%. Available upon request.

WORLD-CLASS PROPERTY DEVELOPER SE7EN Residences is owned by luxury property developer Seven Tides. Established in 2004, Seven Tides has developed its own portfolio of commercial, residential and resort projects.

ADDRESS AND CONTACT DETAILS Our Sales Office is located at DUKES Dubai Hotel, Oceana complex, Palm Jumeirah.

T: 800 883 007 or +971 4 444 0700 E: sales@seventides.com W: seventides.com

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VENUE IN TOWN From weddings, live events and productions to corporate events, product launches and gala dinners, The Domes is truly the capital’s most versatile venue with endless opportunities.

For more details about hosting your unique event at The Domes please contact: Kelly Haechler: k.haechler@tur etme.com or +971 2 234 8457 / +971 56 332 4274

www.thedomesme.com

THE NEWEST, MOST VERSATILE VENUE IN TOWN From weddings, live events and productions to corporate events, product launches and gala dinners, The Domes is truly the capital’s most versatile venue with endless opportunities.

For more details about hosting your unique event at The Domes please contact: Kelly Haechler: k.haechler@turretme.com or +971 2 234 8457 / +971 56 332 4274

thedomesme @TheDomesME

www.thedomesme.com thedomesme

02156_The_Domes_Generic_V2_225x295mm.indd 1

@TheDomesME

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pursuits

Coping with change With 2.5 million copies of this book being sold worldwide through Amazon alone, ‘Who Moved My Cheese?’ has been on the required reading list for anyone in business since it was first published in 1998

must readS

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ritten by the New York Times bestselling author Spencer Johnson MD, who also co-wrote ‘The One Minute Manager’ with Kevin Blanchard, Johnson imaginatively uses cheese as a metaphor for anything in life that makes us happy; A new job, higher salary, new house, new relationship etc., while the maze that the characters inhabit represents the environment in which we look for all these things. This book is a simple story

of four individuals that live in a maze where they hunt for the cheese.

In the story, similar to real life, the cheese is moved, much in the same way our hopes and dreams move the closer we get to them. The four characters go back to where they think the cheese should be, and it has vanished, or the unexpected happens that throws them from their course. That is until one day, one of them learns how to deal with the change and writes all he has learnt on the walls of the maze to help the others find their own cheese.

This easy to read and ingeniuous book will teach you to anticipate, adapt and enjoy change. Reading this, you will learn how to be ready for change and to read the writing on your own walls, so you can enjoy greater success and less stress in your life.

The bonus factor about this book is that it takes less than one hour to read, so it is perfect for busy execs with little time on their hands.

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pursuits

The Marriott, Al Forsan, Abu Dhabi By tanya selley

Who doesn’t want a little bit of a holiday whilst travelling for business? hotel review

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ocated in Al Forsan International Sports Complex, next to Al Forsan Village, the Marriott is a 13 minute drive from Abu Dhabi International Airport and only five minutes from Sheikh Zayed Bin Sultan Street, which links Abu Dhabi to Dubai. The fact it takes only one hour to get to new Dubai (the Marina and Media city areas) makes it a great base for anyone planning on visiting both cities.

On arrival at the hotel I was immediately impressed with the warm welcome received from the staff. The entrance hall was beautifully appointed without being imposing. The Marriott, Al Forsan caters for both business and holiday travellers.

There is a large outdoor pool with swim up bar, and splash pad for children, making it the perfect place to relax with the family after a day of meetings. The gym is fully equipped for all your needs, whilst the spa provides a full range of therapies for both men and women to help you unwind.

For corporate clients, there is a range of meeting rooms and conference facilities to accommodate most business needs. The large ballroom can hold up to 550 comfortably in a theatre style and 350 banquet style, while the smaller meeting rooms can seat ten upwards. Wireless LAN and projectors are also available throughout the meeting and function rooms. There is also the option of hosting VIP guests in one of the suites where business can be conducted in absolute privacy and exclusivity.

The hotel rooms all come with Internet that you can purchase at only a Dhs 25 charge per day and is

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strong enough in its basic setting to download everything you would need (including film).

With six restaurants, you are never short of places to go for an impeccable business dinner or lunch. For schmoozing your clients, look no further than The Grill. Offering a wide variety of meat and fish, The Grill’s signature dish will give the wow factor to any out of the office meeting you want to conduct. The theatrical performance of grilling the steak at your table, does not take away from the fact it was without a doubt one of the best steaks that I have eaten in the UAE – If not the best. For those who don’t like steak, the grilled sea bass was cooked to perfection, the capers and artichoke hearts providing a faultless accompaniment to the dish. Alternatively Khayal, the buffet diner, offers a wide variety of foods and a fabulous breakfast selection that will set you up for the day ahead.

All in all, this hotel caters wonderfully to both executives on business and their families who may accompany them.

Chartered Accountants

Puzzled with the constantly changing regulations?

At HLB Hamt, our financial experts solve your organization’s financial complexities through customized strategies. Our leadership team stays upbeat with the evolving changes such as VAT and excise duty, ensuring you get refined consulting services to take your business forward.

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