His Excellency, Walid Abukhaled is the Deputy Minister for Industrial Affairs at the Saudi Ministry of Commerce & Industry, spoke about “Tailoring Strategy For Success”, and how the statement “Think globally, acting locally” plays a major role and core principle in implementing strategies for successful achievements to the students of College of Business. The presentation took place on the 1st of October 2013.
Mr. Walid started the lecture by explaining theories starting with business jargons that include strategy, vision, and mission. He progressed into the differentiation of corporate and business strategies and then continued down to strategic plan processes where he explained it as series of stages merging though 1- gathering facts, 2- SWOT analysis, 3- reviewing inputs, 4- strategic matrix, 5- defining strategies, where he believes that if nothing is measured then nothing could get done, 6- review and adjust.
Mr. Walid moved from theory to reality and gave an example of KSA Home Market strategy. The Home Market is eight times the size of UK, huge oil reserve, world and regional influence that shows it has global importance, and its annual population growth rate is up to 3.5% and is designed to increase employment and change Saudi Arabia’s perception of being a petroleum-based economy.
The lecture is part of College of Business Executive Lecture Series to provide Alfaisal University students and guests from the business community the opportunity to learn from some of the country’s leading executives as they talk about their careers and leadership experiences. College of Business sponsors the monthly Executive Lecture Series as a way to bridge the gap between the world of leadership and business education.