Stanton Chase Reflects On The Middle East & Why Good Boards Fail

Let’s face it: The Middle East business landscape and economy have changed dramatically in the last 12 months and many believe it will never return to its oil-driven heydays of 15% GDP growth per year. The arrival of strong international competition, dropping legal and cultural entry barriers, rising geopolitical instability, the growth in unemployment, and the collapse of historical monopolistic practices – all of these elements indicate that any Board that chooses to ignore these changes or elects a “proactive wait and see strategy” is simply being unrealistic. Gone also are the days when being on a Board of Directors in the Middle East was seen primarily as a prestige position and supervisory role. Being a Board Member is now about active leadership, personal accountability and senior executive coaching rather than passive supervision. Board Members need to move from being reactive to dynamic by approaching their board work with increased vigour and dedication in order to make a positive difference to the organisations on whose boards they serve.

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