Transformation is key to sustained business growth: GCC survey

RIYADH: Transformation is key for businesses seeking new opportunities and growth, according to a survey conducted in Saudi Arabia, the UAE, and Kuwait, commissioned by leading Dubai-based market research company 4SiGHT.

Over 2,000 respondents across the three Gulf Cooperation Council states shared their opinion in the survey, commissioned by Philip Morris International to understand the public’s perspective on business transformation, a statement showed.

Among Saudi and UAE participants, 84 percent and 82 percent respectively agree that changing with the times encourages companies to innovate and create better business opportunities.

The majority of respondents in Kuwait agreed that transformation will help businesses to grow and provide them with a better chance of thriving post-pandemic.

Ensuring gender equality in the workplace is the most important transformative initiative among companies, according to 79 percent and 83 percent of Saudi and UAE respondents, respectively.

Meanwhile, the need to align corporate transformation to the national agenda is the most important transformation-related initiative, according to the majority of respondents in Kuwait, representing 45 percent.

Participants across Saudi Arabia, UAE and Kuwait agreed that companies are taking actions needed for transformation at a good pace for the best results. Majority of participants in each market agreed they prefer companies that are currently undergoing transformation.