Business and Entrepreneurship in Saudi Arabia Opportunities for Partnering and Investing in Emerging Businesses
Produktdetaljer
Biografisk notat
EDWARD BURTON is CEO and president of the USSABC. He works with the American and Saudi public and private sectors to promote the interests of the U.S.-Saudi Arabian bilateral commercial relationship. Ed has counseled hundreds of Fortune 500 companies, as well as small- and middle-tier firms in such industries as construction, medical and pharmaceutical, defense and security, information technology, power and water, and technical services.
Business and Entrepreneurship in Saudi Arabia is an essential reference guide, informing investors on the key issues that define how business will be done as the nation's family-owned businesses change hands. Supported by the U.S.-Saudi Arabian Business Council, this book introduces the reader to the new Saudi entrepreneur and explains why Saudi Arabia's boom deserves more of the world's attention. As the heads of family-owned businesses age and corporate boards are reshaped, business practices will be influenced by the ascension of the country's young leaders. Interviews with young Saudi entrepreneurs describe the challenges, triumphs, failed attempts, and successful endeavors they experience every day as time-tested traditional models bump up against more modern, innovative ideas and methods. The book's companion website features a variety of useful tools and documents that help readers implement the concepts presented, and the firsthand information provides deep insight into the future of these companies.
Saudi Arabia is profoundly influencing the technological advances of multiple industries through increasing collaboration and in-country partnerships with communities around the world. The evolution of the Kingdom's family-owned businesses is becoming more important to investors as young Saudis claim their legacies, and this book provides an insightful understanding of the changing nature of Saudi business.
- Meet the emerging entrepreneur class of Saudi Arabia
- Learn how the Saudi boom affects global business
- Discover what investors need to know about the Saudi economy
- Examine how time and technology is reshaping the way business is done
- Gain useful insight into the direction management of the Kingdom's growth will take over the next five years
The Saudi economy constitutes thirty percent of the Arab world's GDP, and sixty percent of the population is under the age of thirty. Business and Entrepreneurship in Saudi Arabia provides essential information investors need to navigate the changing tide of doing business in Saudi Arabia.
Preface ix
Acknowledgments xxi
About the Author xxii
Introduction xxiii
CHAPTER 1 The Kingdom’s Modern Economy and Economic Might 1
The Modern Saudi Economy and the National Development Plans 1
The Private Sector’s Role in National Development and Non-Oil GDP 8
So, How Has It All Worked Out? 9
The Kingdom’s Path to Economic Diversification 17
Notes 29
CHAPTER 2 Innovation in Saudi Arabia: The Kingdom’s March Toward the Future 33
Evaluating Innovation in Saudi Arabia: The Global Innovation Index and the Importance of International Market Engagement 33
Innovation versus Invention 40
Technological and Scientific Discovery in Saudi Arabia 42
King Abdulaziz City for Science and Technology (KACST) 45
King Abdullah University for Science and Technology (KAUST) 56
Industrial Clusters Program (IC), SABIC, and Saudi Intellectual Property 62
Notes 67
CHAPTER 3 The Development of Family-Owned Businesses in Saudi Arabia 69
Defining the Family-Owned Business (FOB) 69
The Corporate versus Social Nature of the Saudi Family-Owned Business 74
Corporate Succession within Saudi Family-Owned Business and New Generation Integration 81
Management of Strategic Focus and the Importance of Corporate Governance 90
Illustrations of Saudi Family-Owned Businesses 98
Notes 116
CHAPTER 4 Entrepreneurship in Saudi Arabia Today 120
Defining "Entrepreneur" in Saudi Arabia 120
Saudi Entrepreneurs—The Decision to Go into Business 130
Mr. Saud Al-Suhaimi, CEO of Jawlah Tours 136
Mr. Abdulrahman Al-Olayan, Businessman, Lecturer, Doctoral Candidate 142
Bankruptcy in Saudi Arabia 150
Notes 157
CHAPTER 5 Exploring Saudi Entrepreneurism and Opportunities for Business 162
Entrepreneurship as a Catalyst for Economic Growth—Saudi Realities 162
Promotion and Support of Saudi Entrepreneurs and Small and Medium-Sized Businesses 168
Endeavor Global Incorporated (Endeavor) and Endeavor Saudi Arabia 169
The National Entrepreneurship Institute (RIYADAH) 178
The Centennial Fund (TCF) 186
Saudi Technology Development and Investment Company (TAQNIA) 192
Notes 198
CHAPTER 6 New Horizons for the Kingdom and for Its Domestic and Foreign Businesses 201
A New Era in U.S.–Saudi Commercial Relations 201
Saudi and American Goodwill and Right Intentions—A High-Level Discussion on U.S.–Saudi Bilateral Commercial
Relationships 206
New Fiscal Realities and Recurrent Development Themes 211
Closing Thoughts 218
Notes 220
Index 223
The Keys to Doing Business in the Kingdom
Business and Entrepreneurship in Saudi Arabia is the new, essential reference guide for anyone looking to do business and invest in Saudi Arabia. Supported by the U.S.-Saudi Arabian Business Council, this groundbreaking resource is your primer and insider's guide to the booming economy earning the world's attention and the numerous strategic opportunities now available to sharp leaders and investors who know how to operate in the Kingdom. Get to know the names of the major players, the political and economic histories, and the actionable approaches to smoothly operate under often confusing and complicated conditions. This single resource is all you need to:
- Understand the challenges and needs of young Saudi entrepreneurs in their own words
- Examine how global competitiveness and technology are redefining business
- Apply the useful tools and covered concepts in the real world
Unlock the fresh landscape of prospects in one of the world's youngest and wealthiest countries with Business and Entrepreneurship in Saudi Arabia.
Alot has changed in Saudi Arabia since the discovery of oil, the first push for economic development, and the onset of industrial expansion. Now, the country makes up thirty percent of the Arab world's GDP, and the evolution of family-owned businesses is becoming more important to investors as young Saudis step up to claim their legacies. Business and Entrepreneurship in Saudi Arabia is your insider's guide to the changing face and mindset of the influencers occupying the C-suites inside the Kingdom.
This multidimensional look at the emerging new generation of business leaders comes with the rare wisdom of someone working day-to-day in the Saudi business world as both a government agent and a businessman. CEO and President of the US-Saudi Arabian Business Council (USSABC) Edward Burton brilliantly details a fresh picture of the new class of leadership, which includes those who take guidance from the customary ways of doing business as well as a growing number of pioneers who are changing the way business is done by influencing technological innovation and reimagining the role of business leaders. In an eye-opening walk through the highlighted history of the Saudi economy, he shows you how past leaders developed the nation's prosperity to not only get a seat at the G-20 table but also outperform many of the constituent members in under twenty years. Then, he connects the dots to clarify the strategic alliances and partnerships open to U.S. companies seeking a global competitive edge and gets you there fast and in proper form by providing a valuable tour of the Saudi marketplace, including:
- What it means to be an entrepreneur in Saudi Arabia
- The nuances of family-owned businesses, complete with firsthand profiles of major companies
- A comprehensive look at the Kingdom's Tenth Development Plan and its superseding economic compacts with the Saudi people, Vision 2030, and the National Transformation Plan, which detail strategies for Saudi Arabia's future growth
Whether you're investing capital or developing business, Business and Entrepreneurship in Saudi Arabia is the essential resource for operating like a pro in this lucrative economy.
Produktdetaljer
Biografisk notat
EDWARD BURTON is CEO and president of the USSABC. He works with the American and Saudi public and private sectors to promote the interests of the U.S.-Saudi Arabian bilateral commercial relationship. Ed has counseled hundreds of Fortune 500 companies, as well as small- and middle-tier firms in such industries as construction, medical and pharmaceutical, defense and security, information technology, power and water, and technical services.