Many businesses will be inclined to cut research and innovation programs in the wake of the downturn. Why do you think they should actually focus more on innovation?

Innovation is even more critical in the current market climate, and the reason for that is actually quite simple. Each scenario facing a slowdown and possible recession [means] if you want to maintain your market share or make gains, you will have to innovate. I was talking to the CEO of a company recently and he told me that, for his organization, he has kept the marketing expenses the same, and [told] his team members to aim for 7 percent growth in the next calendar year. Now, if you keep the marketing expenses the same and you are aiming for higher growth, you cannot do things the way you did last year.

How does your book compare to other texts on innovation?

We asked the question: “to what degree is driving innovation a part of the CEO’s responsibility portfolio, or is this something that the CEO delegates to either a bunch of scientists in their R&D lab or to a start-up company in acquisition mode?” 

I don’t think there’s another similar book that looks at the role of the CEO in driving responsibility or innovation. What makes the book unique is the very honest and direct perspective of the CEOs about how they see their own roles vis-a-vis innovation in their own organizations and global businesses.

INSEAD does an annual innovation index every year. How is the Middle East performing?

Clearly there is a tremendous focus on innovation in the region because economies right now are trying to move towards a more diversified economy, away from oil-based economies.

You have to diversify and you have to innovate and you have to experiment with new possibilities. So I think you are seeing broad-based movement [across] a number of economies in the GCC, including Saudi Arabia and Qatar. The drive and push for innovation in these economies is pretty pervasive and it’s coming from the top of governments in these cases.

How would you rate the Middle East’s level of performance when it comes to innovation and change?

There are a lot of new interesting initiatives in the region … which promise innovative outcomes for society at large and businesses.

Culture is a very important example, especially the museums in Saadiyat Island and Abu Dhabi. You have Masdar, which is another interesting example of innovation in looking at carbon-neutral cities. You have world-class service sector companies coming out of Dubai, for example. You have Dubai Ports, Jumeirah, Emirates Airlines, Etihad Airlines and Qatar Airways. On the media sector you have al-Jazeera in Qatar, you have Education City in Qatar, you have all the universities coming in to Abu Dhabi.

And the fact that this region has welcomed so many expats, both blue collar and white collar, is a sign for me that they are very open to change.         

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