Effective leaders take ideas to the moon, yet keep feet firmly on the ground; achieving the extraordinary is piecemeal for them. Their humility, passion and dedication is priceless, and has been chronicled for centuries. Today’s leaders are extending this list of virtues, with the ability to identify needs that are neither tangible nor visible. Their innovation and change is tapping into needs that hail from emotional disconnection with people, places and resources.
Great leadership examples ‘close to home’
Take Abdulla Al Shehhi, an Emirati on a mission. He recognises the importance of water and its dwindling reserves, dedicating his business to reduced water consumption. Many wouldn’t care – Mr Al Shehhi does. His first venture, Q2 General Cleaning Services, a car wash facility located in most major shopping centres, uses minimal water per wash while maintaining a quality service. Data now demonstrates a large amount of litres per car wash are saved through his car-washing methodology. No longer content with that success, Mr Al Shehhi is now exploring additional avenues to provide access to water that may otherwise be wasted.
Take the person behind squirrel.me, a great example of leadership in today’s business environment as it taps into consumers’ lack of discipline with money. Rather than having your entire salary spent in the first few days of the month, Squirrel withholds portions of a salary, distributing it weekly as per standing instructions. Governed and regulated for legal purposes, the company withholds an amount of salary until a dedicated financial target or goal has been met. Squirrel’s founder recognised the need for financial discipline by connecting with the emotional degradation of people in its absence.
Similarly, Ambareen Musa, from the financial comparison website Souqalmal.com, chose not to stand by and watch families suffer because they did not understand how credit cards work and the fees they can attract through misuse. Many wouldn’t care, but Ms Musa does. She is passionate about equipping buyers with the knowledge and ability to purchase within their means, and has done so in a language a layman would understand. This online marketplace takes the worry and complexity out of obtaining a credit card. Emotional reconnection and family happiness is again at the core of a business.
Humility is evident with founders of such initiatives. They recognise that leaders do not and cannot stand alone while forging positive change. They quite often do not take stock of just how far they have travelled until a major milestone or award occurs and then they pay the praise forward to their teams.
The world rewards their contributions
In today’s business landscape, the world pays homage to these “connected” business leaders. It provides them opportunity and power, allowing them to demonstrate time and again that leadership taps into a purpose. Without purpose there really would be no leadership.
Quite often the purpose is intangible. In Mr Al Shehhi’s case, he’s not driven by a product or service, but rather a genuine concern about lack of water, and hence his purpose is to both conserve existing water supplies and discover untapped sources of water. This intangible can only help in a world with dwindling reserves of water, and the business world provides greater exposure to, and support for, his ideas.
In Ms Musa’s case, she’s also not driven by a product or service, but rather a genuine concern of large entities having no empathy for families who may not have the same level of understanding regarding finance. And hence her purpose provides financial education, in plain English and simple terms. This then facilitates informed decision-making for families. This intangible can only help in a world with increasing debt and anguish; the business world in turn is providing Souqalmal.com greater exposure and opportunity.
This type of power and exposure produces positive influence, attracting a viral-like following that in turn become tipping points. These leaders identify great opportunity to serve intangible limitation, frustration, worry or concern, and ensure their actions bring efficiency, peace of mind and engagement.
The use of this power
With this power comes responsibility, and each of the above leaders’ immeasurable and invaluable responsibility is given serious attention. They understand that their dreams do not belong to themselves but to a future generation and ensure their beacon of hope will live beyond their own days.
It is true that leaders can be “out there”, exploring the land of creation and change. They dare to venture where others will not go, pushing limits and challenging processes at every opportunity. They no longer work only with new ideas in the material world but also connect with human needs in an emotional world, solving issues of an intangible nature. Leadership 2.0 is emerging at our time of greatest need. Are you willing and able to strengthen this movement, assisting where possible?
Debbie Nicol, based in Dubai, is the managing director of business en motion and a consultant on leadership and organisational development, strategic change and corporate culture
business@thenational.ae
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Stars: Dr Ghassan Abu-Sittah
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Starring: Jamie Foxx, Angela Bassett, Tina Fey
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Engine: Dual 180kW and 300kW front and rear motors
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The specs: 2017 Lotus Evora Sport 410
Price, base / as tested Dh395,000 / Dh420,000
Engine 3.5L V6
Transmission Six-speed manual
Power 410hp @ 7,000rpm
Torque 420Nm @ 3,500rpm
Fuel economy, combined 9.7L / 100km
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5pm: Maiden (PA) Dh80,000 1,400m | Winner: Eghel De Pine, Pat Cosgrave (jockey), Eric Lemartinel (trainer)
5.30pm: Maiden (PA) Dh80,000 1,400m | Winner: AF Sheaar, Szczepan Mazur, Saeed Al Shamsi
6pm: Sheikh Zayed bin Sultan Al Nahyan National Day Cup (PA) Group 3 Dh500,000 1,600m | Winner: RB Torch, Fabrice Veron, Eric Lemartinel
6.30pm: Sheikh Zayed bin Sultan Al Nahyan National Day Cup (TB) Listed Dh380,000 1,600m | Winner: Forjatt, Chris Hayes, Nicholas Bachalard
7pm: Wathba Stallions Cup for Private Owners Handicap (PA) Dh 70,000 1,400m | Winner: Hawafez, Connor Beasley, Ridha ben Attia
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COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
VEZEETA PROFILE
Date started: 2012
Founder: Amir Barsoum
Based: Dubai, UAE
Sector: HealthTech / MedTech
Size: 300 employees
Funding: $22.6 million (as of September 2018)
Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC
PULITZER PRIZE 2020 WINNERS
JOURNALISM
Public Service
Anchorage Daily News in collaboration with ProPublica
Breaking News Reporting
Staff of The Courier-Journal, Louisville, Ky.
Investigative Reporting
Brian M. Rosenthal of The New York Times
Explanatory Reporting
Staff of The Washington Post
Local Reporting
Staff of The Baltimore Sun
National Reporting
T. Christian Miller, Megan Rose and Robert Faturechi of ProPublica
and
Dominic Gates, Steve Miletich, Mike Baker and Lewis Kamb of The Seattle Times
International Reporting
Staff of The New York Times
Feature Writing
Ben Taub of The New Yorker
Commentary
Nikole Hannah-Jones of The New York Times
Criticism
Christopher Knight of the Los Angeles Times
Editorial Writing
Jeffery Gerritt of the Palestine (Tx.) Herald-Press
Editorial Cartooning
Barry Blitt, contributor, The New Yorker
Breaking News Photography
Photography Staff of Reuters
Feature Photography
Channi Anand, Mukhtar Khan and Dar Yasin of the Associated Press
Audio Reporting
Staff of This American Life with Molly O’Toole of the Los Angeles Times and Emily Green, freelancer, Vice News for “The Out Crowd”
LETTERS AND DRAMA
Fiction
"The Nickel Boys" by Colson Whitehead (Doubleday)
Drama
"A Strange Loop" by Michael R. Jackson
History
"Sweet Taste of Liberty: A True Story of Slavery and Restitution in America" by W. Caleb McDaniel (Oxford University Press)
Biography
"Sontag: Her Life and Work" by Benjamin Moser (Ecco/HarperCollins)
Poetry
"The Tradition" by Jericho Brown (Copper Canyon Press)
General Nonfiction
"The Undying: Pain, Vulnerability, Mortality, Medicine, Art, Time, Dreams, Data, Exhaustion, Cancer, and Care" by Anne Boyer (Farrar, Straus and Giroux)
and
"The End of the Myth: From the Frontier to the Border Wall in the Mind of America" by Greg Grandin (Metropolitan Books)
Music
"The Central Park Five" by Anthony Davis, premiered by Long Beach Opera on June 15, 2019
Special Citation
Ida B. Wells
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More on Quran memorisation:
The past Palme d'Or winners
2018 Shoplifters, Hirokazu Kore-eda
2017 The Square, Ruben Ostlund
2016 I, Daniel Blake, Ken Loach
2015 Dheepan, Jacques Audiard
2014 Winter Sleep (Kış Uykusu), Nuri Bilge Ceylan
2013 Blue is the Warmest Colour (La Vie d'Adèle: Chapitres 1 et 2), Abdellatif Kechiche, Adele Exarchopoulos and Lea Seydoux
2012 Amour, Michael Haneke
2011 The Tree of Life, Terrence Malick
2010 Uncle Boonmee Who Can Recall His Past Lives (Lung Bunmi Raluek Chat), Apichatpong Weerasethakul
2009 The White Ribbon (Eine deutsche Kindergeschichte), Michael Haneke
2008 The Class (Entre les murs), Laurent Cantet
HOW TO WATCH
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Royal Birkdale Golf Course
Location: Southport, Merseyside, England
Established: 1889
Type: Private
Total holes: 18
AIR
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Know your cyber adversaries
Cryptojacking: Compromises a device or network to mine cryptocurrencies without an organisation's knowledge.
Distributed denial-of-service: Floods systems, servers or networks with information, effectively blocking them.
Man-in-the-middle attack: Intercepts two-way communication to obtain information, spy on participants or alter the outcome.
Malware: Installs itself in a network when a user clicks on a compromised link or email attachment.
Phishing: Aims to secure personal information, such as passwords and credit card numbers.
Ransomware: Encrypts user data, denying access and demands a payment to decrypt it.
Spyware: Collects information without the user's knowledge, which is then passed on to bad actors.
Trojans: Create a backdoor into systems, which becomes a point of entry for an attack.
Viruses: Infect applications in a system and replicate themselves as they go, just like their biological counterparts.
Worms: Send copies of themselves to other users or contacts. They don't attack the system, but they overload it.
Zero-day exploit: Exploits a vulnerability in software before a fix is found.