Companies in Mena region value innovation: Survey

January 17, 2014 - 5:27:20 am

Doha: A recent survey by Bayt.com, a leading job site in the region, revealed that companies in the Middle East and North Africa (Mena) value innovation, and encourage customers to participate in their innovation strategies.

Data for the ‘Innovation in the Mena’ poll was collected online from November 18 to December 30, last year, with 6,268 respondents from UAE, KSA, Kuwait, Qatar, Oman, Bahrain, Lebanon, Syria, Jordan, Algeria, Egypt, Morocco and Tunisia.

Seven out of 10 (69.4 percent) respondents said that their companies keep up to date with other organisations in their field and adopt best practices. The majority (82.9 percent) also said that their companies employ a long-term innovation strategy rather than a short-term one, which, according to 63.8 percent of respondents, has led to their companies’ innovation performance surpassing that of other firms in their industry. 61.8 percent also say that innovation has led to improved financial performance.

When it comes to problem-solving, 81.1% of respondents say that pitching of ideas is welcomed, and reaching out to other departments for help is also encouraged within their organisation. 79.2 percent of respondents say that their company involves customers in the innovation process by asking for their feedback. 

This is likely a contributing factor to 68 percent of respondents saying that their companies are perceived as innovative by their customers.

The majority of respondents to the Bayt.com Innovation poll (76.8 percent) claim that company leaders are, for the most part, willing to replace existing products with new and better ones. 

Eight out of 10 (78.3 percent) say that new ideas are encouraged and tried out, with sufficient time set aside for people to think and explore new possibilities (according to 49.3 percent). 

The Peninsula

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