How can GCC countries innovate and offer sustainable products and services?

How can GCC countries innovate and offer sustainable products and services?
23/05/2017 Comments Off on How can GCC countries innovate and offer sustainable products and services? Other Academic Papers,Sample Academic Papers admin

Innovation can be encouraged and nurtured, often without a guarantee of success, but resources and a commitment are a good starting point.GCC countries are now turning to science, engineering, research and education for economic progress, the well being of its citizens and for effective competition with other countries. The GCC countries have started diversifying their economies and are turning to agriculture and industrial development. The main concentration is for challenges in the sustainable use of resources relating to energy, water and food security. States like Dubai have diversified into attracting tourists by hosting international events.

Obviously, stakeholders in GCC countries are the governments, citizens and private organizations who would benefit in the diversification of the economy. This includes owners, shareholders, employees, suppliers, competitors, local communities, the media and environmentalists etc. Managers must create and execute processes that will satisfy everyone involved in the wellbeing of these countries. A stakeholder approach creates active management of the business environment and the encouragement of shared interests. As concern for environment is a universal factor, it is becoming increasingly important for GCC countries to adopt environmentally good practices and committing to sustainability throughout their respective states.

Such policies and moves will benefit to the GCC states because sustainability adopting and monitoring helps differentiate between competitors and is very useful for attracting investments into these countries which will be of great assistance for their diversification programs. New investment has many benefits such as: it drives business innovation, it attracts talent, boosts employee motivation, self-confidence and retention, helps in quick adjustment to environmental systems and policies, helps businesses to monitor against set objectives, reduces risk factors and improves management practices and provides ready references for company environmental.

To set achievable goals the GCC need to collect a huge amount of data for analysis and planning. This will determine the levels that need to be reached in the progression of the project and how much all this will cost the respective states. What has to be considered is how other countries will comprehend the objectives achieved. One important of sustainability is whether the goal should be normal or unlimited. The GCC should set goals which should include: integration of the principles of sustainable development into country policies and programs to reverse the loss of environmental resources, reduce the loss of living organisms within the shortest time possible and reduce by at least 50 percent the number of people without sustainable access to safe drinking water and basic sanitation.

 

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