www.forbesmiddleeast.com post-Covid-19 world that is coming. All made more prominent our commitment Empowering women is part of stc of this was achieved while stc was still to deliver on our objectives of core values. This makes good business able to deliver strong financial results transforming our company into a leading sense. We have a number of highly and value to its shareholders. digital and telecommunications player professional and skilled women leading by expanding both our scale as well as functions at the middle and executive How do you balance cost controls our scope and venturing into new digital management level, and we aim to have with maintaining high levels of services like digital media and digital highly talented women among our top- innovation during these tough times? financial services. This prominence has level management. In fact, our hiring We believe that it is precisely at these also accelerated and enhanced other curve of women has increased by 23% times that innovation, dynamism and commitments that stc already had in the during 2020 from last year, and more agility are required to be able to face the corporate social responsibility arena. than 18% of people in our leadership challenges. Innovation is the only way development program, and 33% from forward because simple cost-cutting While sustainability and strong our specialized development program, initiatives will not allow us to continue corporate governance were already are women. having a sustainable business. Our part of stc’s DNA, our objective is to DARE strategy, which we have revised become a role model of corporate We are committed to upholding during this period, reflects our view that social responsibility and sustainability our zero-tolerance policy for any form innovation will have to be at the center and follow the country’s leadership in of discrimination, ensuring a productive of our future business. Specifically, we contributing to the UN’s Sustainable work environment where differences are will focus on innovating in the way that Development Goals. To achieve this, we respected, and where opportunities and we extract value from assets on our have clearly established this as a strategic equitable treatment are afforded to all. balance sheet today. objective in our refreshed DARE strategy and created a special top management What can we expect from stc with We need to continue innovating so committee to drive the implementation regards to 5G in 2021? that we digitalize our operations and of our corporate responsibility and We are working to deploy the largest ways of working, so that we transform sustainability strategy. advanced 5G network in the Middle our cost in a more structural manner, East and North Africa. The next stage drive efficiencies and gain operational An integral part of Saudi Arabia’s will witness an expansion of 5G in agility. And we will also continue transformation process has been to more than 71 cities across Saudi Arabia. innovating in new digital products open up employment opportunities These developments are the result of and services for our customers to for women. What is stc doing in this a continuous effort to enhance our complement our revenue streams, as regard? network’s infrastructure and provide stc exemplified by our successful incursions We are committed to having a diverse customers with connectivity diversity, into digital financial services and digital workforce across business areas and coverage and reach. The expansion media. We will also have to innovate in support units, simply because we believe of the FTTH fiber optic network the way that we invest and enter into that a diverse staff allows us to effectively has delivered the highest possible new opportunities, with partnerships, draw on different perspectives to broadband speed and services to home co-creation and new revenue models enhance the quality of our ICT services, and business users. The company has becoming more prominent, enabling us deepen the relevance of our digital also been expanding its global Internet to share investments and benefits as is services and enhance our efficiency and Gateway, progressively growing the prevalent in the new digital economy. effectiveness in delivering those services capacity of the network. We have to our clients. recently signed global agreements Saudi Arabia has held the rotating with leading international content presidency of G20 member states An inclusive work environment companies such as Google, Facebook this year. What impact is the encourages different perspectives, and stc and Akamai. The ultimate objective kingdom’s growing prominence welcomes the wide range of experiences for stc is to deliver the best and fastest on the global stage having on stc’s and viewpoints that both male and possible service to stc customers. operations? female employees bring to the table. Our DARE strategy was developed www.stc.com with the objective of contributing to In our inclusive workplace, all stc the ambitions of Vision 2030 and our employees at every level are valued shareholders. The kingdom’s presidency members of the stc family. Regardless of the G20 has simply reinforced and of their gender, everyone is assured the right of equitable, fair and respectful, gender-neutral treatment.
THOUGHTS ON Conviction 100 “Unless you believe, you will “The highest court is in the not understand.” end one’s own conscience and conviction.” —Augustine of Hippo —Max Planck “As I get older I seem to believe less and less, and yet “ ‘My conviction,’ says the to believe what I do believe mystic, ‘gains infinitely the more and more.” moment another soul will believe in it.’ ” —David Jenkins —E.M. Forster “Credulity is the man’s weakness, but the child’s “He who thinks a great deal strength.” is not suited to be a party man: He thinks his way —Charles Lamb through the party and out the other side too soon.” “Clouds come floating into my life—no longer to carry rain —Friedrich Nietzsche or usher storm, but to add color to my sunset sky.” “The fact is that my appetite for risk was far greater than —Rabindranath Tagore that of other people, and my courage in my own conviction “I meant what I said, and was unshakable.” I said what I meant.” —Sheldon Adelson —Dr. Seuss “The best lack all conviction, Ek-traordinary “Half of getting there is having while the worst are full of the confidence to show up— passionate intensity.” January 16, 2012 and keep showing up.” —William Butler Yeats Daniel Ek is an intense fellow: a six-cups-of-coffee —Sophia Amoruso guy who eight years ago was setting his sights on what “Have ultimate belief in seemed an insurmountable challenge. Ek wanted to save “Now faith is the assurance yourself. Why is someone the music industry, and he thought his upstart stream- of things hoped for, the going to believe in you if you ing service, Spotify, could offer something more alluring conviction of things not seen.” can’t believe in yourself?” to fans than piracy while ensuring that artists and record —Hebrews 11:1 —Mindy Grossman companies got paid. “We bet our personal fortunes, and sometimes we bet the entire company,” said Ek, the FINAL THOUGHT “The relationship between cover star of our debut 30 Under 30 issue. “We led with commitment and doubt is by our conviction rather than [being] rational, because “To advance, stand fast no means an antagonistic one.” rational said it was impossible.” It worked: Spotify today under all circumstances.” —Rollo May is a $47 billion (market cap) company. As for Ek, his —B.C. Forbes personal fortune has ballooned alongside the value of “Conviction is worthless unless it is converted into conduct.” his company, to $4 billion. Music to his ears. —Thomas Carlyle SOURCES: DE LIBERO ARBITRIO, BY AUGUSTINE OF HIPPO; ESSAYS OF ELIA, BY CHARLES LAMB; STRAY BIRDS, BY RABINDRANATH TAGORE; HORTON HATCHES THE EGG, BY “If it’s your passion and it’s DR. SEUSS; “THE SECOND COMING,” BY WILLIAM BUTLER YEATS; THE COURAGE TO from the heart, you just CREATE, BY ROLLO MAY; THE DILEMMAS OF AN UPRIGHT MAN, BY J.L. HEILBRON; keep playing, playing and HOWARDS END, BY E.M. FORSTER; HUMAN, ALL TOO HUMAN, BY FRIEDRICH NIETZSCHE. playing, and eventually somebody’s gonna notice.” —Eddie Van Halen FORBES ASIA DECEMBER 2020
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