Four Principles Kaizen Awards to be announced in under a fortnight

27 November 2018 Consultancy-me.com

Celebrating local endeavours in the field of lean transformation, the winners of the Four Principles Kaizen Awards will be announced in less a fortnight at a ceremony in Riyadh.

Put together by specialist lean management consultancy Four Principles, the Kaizen Awards recognise and reward companies in Saudi Arabia which have sought continuous improvement through the adoption of lean principles across their value streams, with the broader aim of driving overall awareness and implementation of lean management throughout the Kingdom and wider region.

Following the closing of entries in September, for which the firm received an ‘overwhelming’ number of submissions across two categories from industry leaders in Saudi Arabia, the winners of the Kaizen Awards will be announced at a ceremony in Riyadh on the 9th of December – with dozens of leading CXO executives from the country’s major private and public organisations expected to attend.

Organisations were invited to share their lean success stories in one of two categories, ‘Continuous Improvement Process’ and ‘Lean Transformation’, covering such details as the challenges faced by the company, the objective and goals of the initiative, the project duration, costs and number of employees involved, and ultimately the actions taken and eventual results in quality, lead times, overheads and sustainability.Four Principles Kaizen Award winners to be announced in less than a fortnightFor the submissions, the Continuous Improvement category included any small scope project limited to one area of the business, showing analysis, solution design and implementation with demonstrable results, while the Lean Transformation bracket concerned a project containing smaller projects that impacted an entire organisation over a longer period of time – such as the transformation project that Saudi tourism operator Mawaddah is set to undertake with the firm.

In addition to the attendant prestige, the award winners in each category will also be granted a significant prize; in the case of the continuous improvement category, a one week analysis project by Four Principles in an area of operations as chosen by the company, and, for the winners of the lean transformation category; a five day trip for three senior executives to Japan, the birth-place of the Kaizen management philosophy.

Originating in the Japanese automotive industry, most notably at Toyota where Four Principles co-founder Seif Shieshakly spent time earlier in his career, the now cross-sector business management philosophy focuses on a customer-first approach, with the ‘lean’ achieved through eliminating waste rather than cutting costs which might negatively impact on the services or products offered, and the transformation driven by an organisation-wide dedication to small, continuous improvements.

For the winners of the Kaizen Awards’ lean transformation category, Four Principles will arrange an industry-tailored schedule of visits, meetings and activities for three company executives over five days in Japan to showcase how lean practices are implemented throughout pioneering local firms – an invaluable prize in line with the firm’s stated ambition of bringing the lean philosophy to a wider regional audience.

EY estimates $33 billion boon to UAE economy from Expo 2020 Dubai

16 April 2019 Consultancy-me.com

Professional services firm Ernst & Young has outlined the potential economic impact of Expo 2020 Dubai to the UAE economy, concluding a possible $33 billion windfall in gross value add and a near 50,000 full-time equivalent jobs per annum to 2031.

With the Expo 2020 Dubai global showcase now just around the corner – and expected to attract 25 million visits from across the world during its six month schedule from October next year – professional services firm Ernst & Young has released an economic impact report for the event, calculating a US$33 billion (AED122.6 billion) boost of gross value added (GVA) to the local economy from 2013–2031 along with contributing more than 900,000 ‘job years’.

“Expo 2020 Dubai is an exciting long-term investment for the UAE, and is expected to have a significant impact on the economy and how jobs are created directly and indirectly,” said EY MENA Transaction Advisory Services partner Matthew Benson, adding; “Dubai aims to use the event to further enhance its international profile and reputation. The event will celebrate innovation, promote progress and foster cooperation, and entertain global audiences.”

According to the report, the six months of the Expo – the first to be held in anywhere in the Middle East, Africa or South Asia in the event’s 168-year history – will contribute around 1.5 percent of the UAE annual forecast GDP, with the analysts taking in ‘direct’ increases in economic activity, ‘indirect’ benefits of increased supply chain demand, and ‘induced’ benefits from increased spending by employees of participating firms to arrive at its $33 billion figure.EY estimates $33 billion boon to UAE economy from Expo 2020 DubaiConsidering further the planning and legacy phases, EY has in addition estimated AED 4.7 billion in investment to small and medium enterprises (SMEs) during the pre-Expo phase, supporting approximately 12,600 job-years, with the Expo expected to support more than 900,00 full-time equivalent (FTE) job-years in total in the Emirates from 2013 to 2031 – equivalent to some 49,700 FTE jobs. Meanwhile, strong legacy planning will ensure the ongoing benefits.

“Over 80 percent of the Expo built environment is planned to be retained for District 2020, and eventually expand into a city covering more than four million square meters,” states the report, adding that District 2020 aims to support the UAE’s future vision as to sustainable economic development and an innovation-driven economy, with a supportive business environment for key growth industries such as logistics and transport, tourism, construction, real estate and education.

“Although the Expo event lasts less than a year, the positive economic impact continues far beyond the event,” said Jamie Torrens, EY MENA’s head of Economic Advisory in its transaction advisory service division. “Across the period of our study, spanning the Pre-Expo, During-Expo and Legacy phases between 2013 and 2031, Expo 2020 is expected to support billions of dirhams of Gross Value Added (GVA) and thousands of jobs in the UAE.”

As a breakdown, the three largest impact areas across the full study period will be events organisation & business services (contributing over half of the overall figure) followed by construction and then hospitality, while transport, storage & communications will be another significant contributor during the life of the Expo and its planning phase. Retail will also see a boost during the legacy period, with nearly 550,000 jobs years created in this period across sectors.

“This independent report demonstrates that Expo 2020 Dubai is a critical long-term investment,” said Expo 2020 Executive Director Najeeb Mohammed Al-Ali. “Not only will the event encourage millions around the world to visit the UAE in 2020, it will also stimulate travel and tourism and support economic diversification for years after the Expo, leaving a sustainable economic legacy that will help to ensure the UAE remains a leading destination for business, leisure and investment.”

Related: Accenture and SAP roll out next-generation technology for Dubai Expo