Look back, plan forward
Every business owner knows that the strategies for winning are being first or quick to market, understanding your target consumer IN DEPTH in this ever-changing world and saying YES to change. There are many buzzwords flying about these days, such as ‘disruption’ and ‘innovation.’ But what many business owners also need to realize is, much of the best business secrets are right there in front of them.
With the advancement of emerging technology (and not to mention the recent Covid-19 pandemic), the rate of change in our world is now doubling exponentially. But in order to prepare for their future, companies must look back to their past, in the business’ legacy and the actions of our forefathers. There are great lessons, tried-and-tested case studies, and learnings to help pave the way for a successful future.
Al Masaood Group celebrated 50 years this year and our story is one that I’m very proud of. Over the years, we have had many successes. We founded the first-ever desalination plant in the UAE, which contributed heavily to the agricultural sector and positioned us as pioneering and creative thinkers. Still to this day, we operate on the same, future-enabled mindset.
Remember the three guiding C’s when carving out a successful future – Clarity, Creativity, Character.
Clarity
Have a clearly defined long-term vision and short-term goals in mind when planning your corporate future. What gets measured, gets achieved. Include your team in the ideation and strategy phases, and set measurable targets. This will bring them together, engage them, and help them work towards achieving a unified vision.
When Al Masaood was setup back in 1970, the company underwent a variety of milestones within the first decade, including being the first corporation to register with the Abu Dhabi Chamber of Commerce. By launching the first gas turbine in the region, we not only created a sustainable solution, but because of our ability to anticipate the future, we were the first to address the gap in the market. Most of the milestones that followed were centered around our vision and commitment to continuously place the city on the map, to create solutions that benefit our society and raise Abu Dhabi’s overall economic status.
Moving forward, we have consistently used that same ambition from our founders and previous leaders to drive future success across our various business verticals.
Creativity
Get creative. What are some previous best-practices and strategies you can use to adapt to your present situation, requirements and budget?
When Henry Ford developed the first assembly line and integrated supply chain in 1913, it grew in popularity because of the efficiency of the method. The founder was aware of the time spent on assembling a vehicle (12 hours per car) and reduced it significantly to two hours and thirty minutes… just by changing his process.
This concept was then adopted by Amazon. The founder, Jeff Bezos, used the fundamentals of Henry Ford’s assembly line concept to create a more advanced, healthier supply chain management system.
Good systems produce long-lasting results. Don’t be afraid to adopt historical, tried and tested strategies from different industries, and get creative with your approach.
Character
A well-written company story is a powerful piece of content for cementing legacy. A good story will detail your vision or your ‘why,’ your business milestones and achievements, and will tell the tale of its inception. By advancing your business practices and methods, you are adapting to the current market… but always maintain the brand character.
Let your traditional learnings evolve to include the new-age of emerging tech and innovation, but never change the humble narrative and history that your forefathers created for you.
At Al Masaood, we learnt the art of futuristic vision, the power of pioneering initiatives and resilience through corporate storms, from our founders. We are a family-owned, traditional business WITH a forward-thinking and long-term vision.
This combined and powerful mix of tradition, history and innovation will cement your legacy for years to come.