WWW.THEENTERPRISEWORLD.COM | MIDDLE EAST EDITION | NOVEMBER 2022 SENIOR PARTNER Crowe SAAD A LAURELLED FINANCIAL MANIAR LEADER WITH VISION FOR THE FUTURE
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From Editor’s Desk Industrial development is the primary source of income generation. The era of the industrial revolution allowed for rapid developments and substantially increased the standard of living of the people. As we moved toward the technological era, innovation has been boundless. These rapidly changing dynamics need to be paired with effective sustainable growth to not hinder natural resources. Using these resources conservatively and efficiently will ensure a sustainable environment for industrial development. As easy as it might sound, the role of a business advisor is much more complex and comprehensive. A business advisor helps take enterprises to the path of success with effective business strategies and solutions. With their strong market research and organizational skills, business advisors help you gain an edge over the competition. Featuring for The Enterprise World's this issue of The Most Successful Business Leaders to Watch Out are the stories of such successful businesses, that have made it through every odd storm and made it to the top. For the Cover Story read about- Saad Maniar: Throughout his journey, Saad has always been driven and ambitious. Although he came from a small town in India, he had the opportunity to pursue his higher qualification in the UK where he did small, odd jobs. After qualifying as ACCA in 1999, he trained as an accountant at a London firm. Soon, he moved to Dubai and has been a part of the same company ever since. At Crowe UAE, Saad has shouldered various roles including Audit Senior, Manager, Director, Partner, etc. Since 2010, he has been serving as the Senior Partner and Member of the Board. Monica Chikhani: I started my entrepreneurial journey in 1996, taking a small office in my Dads firm. I had zero capital, but this did not stop me from venturing into what I knew was my calling. Today, 26 years since I founded MEC, I look back at all the setbacks I overcame to get to where I am today. I kept on believing in MEC's vision and pushed very hard to keep persevering in what I believed through growing my skills to be able to add value and solutions to every challenge MEC Workshop faced. Vladimer Botsvadze: My leadership is as exemplary as my marketing strategies. I've earned a reputation as a stand- out speaker. Companies that embrace cutting-edge strategies often receive industry awards. I've delivered an array of presentations challenging the status quo. Highly sought-after for my global status, I've been transforming the future of my corporate clients for more than 15 years. The previous events that have benefited from my revered status include Digital Talk Forum, Asia Retail Summit, AI Conversational Summit, etc. David Suk: I was lucky enough to be the Chief Operating Officer of Aden + Anais for 10+ years, where my experience spanned sales, marketing, supply chain, and global operations. I was in my early 20s when I became the Chief Operating Officer of Aden + Anais and I was extremely lucky to be a part of that growth and success. Now, I'm lucky enough to be the founder of my own successful business. At Saint Luna, I think my biggest achievement was selling into Employee's Only, one of the world's most prestigious bars. There is always a learning curve when starting a new adventure. Shalmali Shalmali W.
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Leaders in Spotlight For the Cover Story read about- make sure whenever I am seated at a table. As a result, I bring value and Saad Maniar: Throughout his journey, solutions without the need to tell my Saad has always been driven and prospective client, I will get back to you ambitious. Although he came from a on this. small town in India, he had the opportunity to pursue his higher Vladimer Botsvadze: My leadership is as qualification in the UK where he did exemplary as my marketing strategies. small, odd jobs. After qualifying as ACCA I've earned a reputation as a stand-out in 1999, he trained as an accountant at a speaker. Companies that embrace cutting- London firm. Soon, he moved to Dubai edge strategies often receive industry and has been a part of the same company awards. I've delivered an array of ever since. At Crowe UAE, Saad has presentations challenging the status quo. shouldered various roles including Audit Highly sought-after for my global status, Senior, Manager, Director, Partner, etc. I've been transforming the future of my Since 2010, he has been serving as the corporate clients for more than 15 years. Senior Partner and Member of the Board. The previous events that have benefited from my revered status include Digital Monica Chikhani: I started my Talk Forum, Asia Retail Summit, AI entrepreneurial journey in 1996, taking a Conversational Summit, etc. small office in my Dads firm. I had zero capital, but this did not stop me from David Suk: I was lucky enough to be the venturing into what I knew was my Chief Operating Officer of Aden + Anais calling. Today, 26 years since I founded for 10+ years, where my experience MEC, I look back at all the setbacks I spanned sales, marketing, supply chain, overcame to get to where I am today. I and global operations. I was in my early kept on believing in MEC's vision and 20s when I became the Chief Operating pushed very hard to keep persevering in Officer of Aden + Anais and I was what I believed through growing my skills extremely lucky to be a part of that to be able to add value and solutions to growth and success. Now, I'm lucky every challenge MEC Workshop faced. enough to be the founder of my own successful business. At Saint Luna, I My crucial achievement in my think my biggest achievement was selling entrepreneurial journey is my discipline. into Employee's Only, one of the world's It is easy to lose focus, specifically if you most prestigious bars. There is always a are your boss. But being dedicated, learning curve when starting a new perseverant, and very disciplined in how I adventure. I feel like I'm still learning conduct business and approach clients each and every day, but that is what made me who I am today. I consider makes entrepreneurship exciting. We are myself a unique person given my a small, incredibly talented team of knowledge, skills, and business diverse individuals that work incredibly proposition. Given that I am a mix of a hard. I do think our combined grit and Creative Director, Client relationship determination are what make us all so Officer, Business Development Officer, successful. It also doesn't hurt to Experiential Officer, Strategist, surround yourself with kind, genuine Negotiator… you name it, I learned to colleagues.
CONT S A A D
ENTS PROFIL E MONICA CHIKHANI VLADIMER BOTSVADZE DAVID SUK UPSHOT DUBAI CASESTUDY NIKE
COVER STORY SAAD MANIAR A LAURELLED FINANCIAL LEADER WITH VISION FOR THE FUTURE 12 | November 2022
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B ““One of the Like many successful leaders, Saad has also witnessed several challenges and Being a leader is a daunting task in the most crucial achievements in his career. One of his rigorously-competitive 21-st century factors of biggest achievements was to be able to marketplace. To distinguish themselves being an resolve a difficult dispute between in the competition, leaders must have a effective partners that was ongoing for few plethora of qualities like a distinct leader is to years. Leveraging the trust both parties vision, perseverance, the ability to take always be had in him, Saad managed to resolve risks, etc. According to Saad Maniar the dispute quickly and amicably. (Senior Partner at Crowe UAE), self-aware and instill self- Another challenge was single-handedly He further mentions that it is equally delivering risk-consulting elements to important for leaders to build a culture awareness in an entity of the Government of Dubai of trust and care to provide services others.” which covered 12 top Government that not only meet clients' expectations owned entities and involved their but also exceed others. Saad is a exposure in 5 different countries. Each laurelled financial leader who has been country and each industry had its leveraging his experience to unique challenges. Additionally, this successfully drive the growth of the needed to be presented to the Minister company. in a very short duration, which was an even more difficult task. Talking about An Illustrious Journey his journey, Saad elucidates, “I am grateful for my successes, the big or Throughout his journey, Saad has small events are all my achievements always been driven and ambitious. of learning and experience building.” Although he came from a small town in India, he had the opportunity to A Trusted Service Provider pursue his higher qualification in the UK where he did small, odd jobs. After Presently, Saad is at the helm of Crowe qualifying as ACCA in 1999, he UAE. The company is one of the trained as an accountant at a London leading Top 10 firms specializing in firm. Soon, he moved to Dubai and has been a part of the same company ever since. At Crowe UAE, Saad has shouldered various roles including Audit Senior, Manager, Director, Partner, etc. Since 2010, he has been serving as the Senior Partner and Member of the Board. 14 | November 2022
audit, tax, advisory, and risk with over 200 professionals spread across 6 offices in the UAE. It has been a trusted service provider to various industries across its 40 years of operations in the country. Its services span several industries like automotive, real estate, media and entertainment, hospitality, healthcare, financial services, telecommunication, etc. Being one of the market leaders in financial services, Crowe UAE has presence in Dubai International Financial Centre (DIFC) since 2006. Thanks to the mix of expertise at its disposal, Crowe UAE provides a myriad of services ranging from External Audit, Internal Audit, Establishing regulated and non- regulated entities and funds, Outsourced services such as Compliance Officer, Finance Officer, bookkeeping services, Liquidation and Winding-up services, etc. The company does not compromise on quality and meets the clients' expectations within time—which is a key aspect that distinguishes it from its peers. From seniors to juniors, everyone is prompt and proactive in www.theenterpriseworld.com | 15
their responses. Crowe UAE's major ““The the print media. Moreover, since the focus is delivering value to its clients region is dominated by copy-and-paste instead of monetary elements. heartbeat of ways of doing business, Saad is our DIFC passionate about ethics, quality, and Growing beyond the Hurdles integration—given the complex office is the integration it presents. Being part of the leading international quality-driven financial hub in MEASA region, services we Being the Chairman of the Members Crowe UAE confronted a unique set of provide which Advisory Committee at ACCA, Saad challenges. 15 years ago, the market has paved this also shoulders the responsibility to take was not acquainted with compliance growth chart,” care of the interest of the members. He matters and other regulations—due to truly enjoys helping and supporting which the company had to keep abreast he adds. members, affiliates, and students in with these regulations as well as keep need. He also acknowledges his team its clients informed and aligned. To by saying, “I am blessed with a great date, the ecosystem is evolving rapidly team and my team continues to show which required Crowe UAE to adapt to how a fresh approach coupled with these changes and developments at a game-changing can thrive within the breakneck speed. accountancy and audit space.” Crowe UAE's strategy has always been Developing Timeless Bonds to attain steady growth. Saad mentions that the point that triggered the Saad gives a lot of emphasis on company's growth was its decision of creating and maintaining healthy deep specialization in all areas of relationships with employees as well as financial services. This included audit, clients. “I have a relationship with each compliance, risk management, etc. member of my team and know them up which distinguished the brand. close,” he says. For employees, he is more like a colleague than an A Zealous Leader at the Helm employer. He frequently has bonding sessions with them. Even during the Saad heads Crowe UAE's practice at pandemic, he arranged virtual coffee DIFC. He believes in deep events. Saad's relationship with the specialization that allowed the employees can be judged by the great company's financial service practices to camaraderie the team shares, which is grow exponentially and be one of the reflected in its delivery of services to leaders in the DIFC. At Crowe UAE, clients as well. he manages the overall practice in DIFC including the practicing Audit The experiences shared by the clients and insolvency (liquidation). and colleagues are testaments to Saad's Innovation, technology, and risk relationship with them. Bernard management have always been at the Tapera, one of Crowe UAE's ex- top of Saad's agenda. employee and a partner at competing firm says, “Saad is without doubt one Additionally, Saad oversees the of the most professional chartered governance, risk and compliance accountants that I have had the practice for the company's network in privilege of working with. It's the Middle East and Africa region. His refreshing to have upright thought leadership, especially on professionals like him in these times of matters relating business and strategy uncertainty and increasing scrutiny of is often contributed to and reflected in the audit profession.” 16 | November 2022
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“Onwards and Upwards” Saad mentions that Crowe UAE has always worked onwards and upwards. The company takes pride in its 40 years of lineage—as its journey from humble beginnings by Dr. Khalid in terms of office space, people strength, gamut of services, and all this has been perilous but highly rewarding. Today, it is ranked no.7 in audit and advisory practice. Crowe UAE has laid a strong foundation. With the rapidly evolving business environment, it aims to keep innovating new ideas. The company is also developing its tools using best-in-class technology to efficiently deliver its services and ensure that it continues to add value to its clients. Furthermore, Crowe UAE is always enhancing its existing services while parallelly coming up with new services to broaden its problem-solving agendas. The company has started its leadership program 'Next in Line' which is all about investing in people. It is an exciting time in the regulatory landscape and Crowe UAE stays informed as well as keeps its clients abreast of all developments. At a group level, the company has always offered end-to-end business solutions, covering a wide range of services. According to Saad, the reason behind the company's success is the combined effort of hardworking professionals working towards the same goal while keeping similar morals, values, and ethics. Exclusives with Saad Maintaining a healthy work-life balance is paramount for leaders to stay motivated and productive. Being in business, leaders are more often than not under pressure. To cope with the pressure, Saad enjoys light-hearted movies that help him relieve stress as well as bring calmness and composure in pressure situations. Talking about the 18 | November 2022
people he admired the most, Saad accredits Shaikh ““At Crowe, we believe in Muhammad for his visionary leadership and Dr. deep-rooted values of Khalid for identifying and grooming him for the Care, Share, Invest, and leaderhsip position. Grow which I personally embed in my daily life and Adding to this, Saad finds the business story of I hope this has contributed Mumbai Tiffin wala—one of the most sophisticated to the company’s stance,” systems developed by ordinary people without much education—to be the most inspiring. When he continues. asked to choose between vigilance and strategy, Saad replied that strategy is important only if it is ” implemented in its spirit and adopted by all the people. His strategy revolves around people and they are the most important assets of the Crowe UAE. Sharing a vote of gratitude, Saad concludes, “I never lose sight of the purpose of life and be thankful to almighty for whatever I have. My mentors provide me with constant guidance and I am thankful for their support.” Saad's Favorite Quote: “I am not saying it is going to be easy, however, it is worth it.” www.theenterpriseworld.com | 19
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Dubai is the largest and the most populous city in the BURJ KHALIFA United Arab Emirates. Known as the global city, the city is a popular business hub in the Middle East. Established earlier as a fishing village in the 18th century, Dubai is today the global transport hub for passengers and cargo. Dubai gained the growing importance of a port from the movement of the steamers of the Bombay and South Persian Steam Navigation Company, which paid five visits annually from 1899 to 1901. But later on, these visits increased to as much as 21 times a year, and that made Dubai an important port and it also gained a preference for trading. Since then, Dubai has become a growing center for regional and international trade, which is where most of Dubai's economy comes from. Apart from trading, it also derives its economy from the tourism industry, aviation, real estate, and financial services. The governor of Dubai, Sheikh Rashid bin Saeed Al Maktoum, used the revenues from trading to build the infrastructure of the city. With this, an airport of sorts was constructed in Dubai in the 1950s. In the early 1960s, Dubai became a lively port for the trade of gold with some 1968 imports of gold at about €56 million. The gold was in the vast majority of re-exported. In the year 1966, more amount of gold was shipped to London and France than anywhere else in the world. Later, an oil era began in Dubai, when oil was discovered in the territorial waters of Dubai. The first oil field was named 'Fateh' or 'good fortune'. 30 | November 2022
Dubai experienced a property boom Dubai over Years- the change and development quickly from the years 2004-2008, as the city started becoming oil-reliant. With the Over the past 30 years, life in Dubai has and easily. The residential areas large scale construction taking place, seen incredible growth in terms of its included Khalifa City. The then Dubai is becoming one of the fastest- economy, lifestyle and everything else. submerged Khalifa City began to growing cities in the world. This The development in Dubai started off in surface from the sands as the property boom was driven by some of the early 1990s, but things started development of Abu Dhabi the megaprojects like the Palm Islands, taking shape from the early 2000s. International Airport's Midfield The World, Burj Khalifa complex, Terminal appeared in the year 2006. Business Bay and many more such projects. The city is home to many What caught the world's attention was Along with this, the Yas Island began to skyscrapers. With these developing real the development of the Palm Jumeirah, develop as the Ferrari World's landmark estate projects, Dubai focuses and a huge reclaimed island in the shape of red roof started to develop in the year derives most of its economy from the a palm tree. Dubai made another bold 2009. The year 2009 saw major tourism industry. statement by opening The Atlantis- The developments as it was also the year of Palm Resort in 2008 at the top of the Emirates' inaugural Grand Prix. Dubai is also the world's third-largest diamond trading hub and has seen an Palm trunk. While the whole world was The Saadiyat Island, primarily a desert increase in the trade of rough and cut drowning in the wave of recession, diamonds since 2001. It is said to be a island also transformed into a cultural buying hub for the consumers of these developments in Dubai showed it hub between the years 2008 and 2009, diamond jewelry. Apart from diamonds, to the world that Emirates was emerging with the Sheikh Khalifa Bridge Dubai is also a hub for gold trading, and it was open for trade and business. connecting it to Abu Dhabi. with India as its biggest buyer of gold. Along with a strong trading industry, Nearly 6% of GDP in Dubai is derived Thus over the time from 1984 to 2019, Dubai is also home to a few significant from oil and gas, even then it has the coast of Dubai has seen remarkable industrial ventures. These primarily managed to double its economy from changes, with new arenas of businesses include the aluminium industry, energy the 2000s. Dubai's growth rate is higher emerging, making it one of the most production units, investments were also than the growth rate of China or Asia, sought after business hubs in the world. done in the car manufacturing industry. the tiger economies. The coming years will show even more development in the real estate, While the development of Abu Dhabi automation, aviation, retail, and all the was not seen much, the residential areas other industries. and the outskirts were seen adapting to www.theenterpriseworld.com | 31
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Nike most trusted America based N brand, rules over the sports world all over the globe. As of later 2020 the organization had count of 76,700 employees worldwide. Around in early 2020 the brand was at 89th position in brand fortune 500 list counting 32 billion making it shine as most valued brand in sports world. Nike is shining in the sports market since 1964 when started as a Sports equipment's company. This blog is a comprehensive examination of Nike marketing techniques, including their target market, social media strategy, marketing mix, digital marketing presence, campaigns, and marketing activities throughout the ongoing pandemic. About Nike: In 1964, Phill Knight track athlete and his coach Bill Bowerman founded Nike originally known as Blue Ribbon Sports (BRS) in Eugene. With partnership with Japanese shoemaker Onitsuka Tiger formed BRS. Till end of 1964 the BRS sold around 1300 pairs of sports shoes and earned 8,000. In early the annual net gross of BRS reached up to 20,000. Later in 1966 BRS opened its retail store at Santa Monica, California. Later in 1971 relationship between BRS and Onitsuka Tiger came to an end. Then BRS was www.theenterpriseworld.com | 41
newly born with expansion and a new name “Nike”. Its first Building Taglines and Stories product designed by Carolyn Davidson named as Swoosh was used by Nike on 18th June 1971. In middle of 1980 Nike got Nike focus on creating meaningful stories to build a 50% share in U.S. sports shoes market. In December of the loyal fan base. Nike prompts emotion in the customer same year Nike gone public and a new story began in the through “emotional branding”. Carefully crafted ads aim growth of Nike. give rise to particular feelings and make the Nike products more meaningful through the eyes of the Nike had Wieden+Kennedy as their primary advertising customers. partner. Co-founder of the advertising company Late Dan Wieden coined the most famous slogan for Nike “Just Do It” Financial Statistics in 1988 Nike ad campaign. Throughout the whole year Nike expanded with a rapid speed. The growth of Nike went on a Nike's digital marketing strategy has brought success. rapid rate. Around in 2013 Nike replaced Alcoa and was made Nike is the most valuable global apparel brand with a a member of the Dow Jones Industrial Average. In December brand value of 28 billion dollars as per the records of 2013 Nike's profit rose to 13% in global orders. For the 2018. They held the largest market share with 2.8 budgetary year 2018, Nike reported earnings of US$1.933 percent in 2017. The company's financial record is also billion, with annual revenue of US$36.397 billion, an increase strong. In the last consecutive 4 years, Nike generated of 6.0% over the previous budgetary cycle. Nike's shares over 30 billion dollars in revenue. traded at over $72 per share, and its market capitalization was valued at over US$114.5 billion in October 2018. Targeting Targeted Audience Marketing Strategies: Nike has a special targeting strategy who targets the audience who actually needs the products. E.g. Nike Nike being a global brand gained more popularity just because believes in sponsorships. Nike promotes their product of the quality products. Being a sports brand added more through celebrity athletes gradually leading in options for promotions and mouth publicity. In 1982 first approaching a targeted audience crowd. advertise of Nike was aired, created by advertising agency Wieden+Kennedy during the New York Marathon. With this The brand always uses cutting-edge technologies like the Cannes Advertising Festival honored Nike as the first hyperadapt. Their mission is “To bring inspiration and company to receive the honor twice of Advertiser of the Year innovation to every athlete in the world” and as we all in 1994 and 2003. know their tagline is “Just Do It”. They have a strong product portfolio in various interrelated business Nike now promotes its products through sponsoring segments to retain their customers and provide bundle agreements with celebrity athletes. Nike's first professional products to them. athlete to promote Nike's product was Romanian tennis player Ilie Năstase. Nike has also sponsored many other successful Campaigns: track and field athletes over the years, such as Sebastian Coe, Carl Lewis, Jackie Joyner-Kersee, Michael Johnson and Nike advertisements have always delivered powerful Allyson Felix. The underwriting of basketball player Michael messages that stay with viewers for a long time. Jordan in 1984, with his subsequent promotion of Nike over the course of his career, with Spike Lee as Mars Blackmon, The label's well-known \"Just Do It\" mission statement proved to be one of the huge boosts to Nike's glare and sales. has appeared in the list of iconic advertisements over the years. The company has earned a reputation for being Digital Marketing: one of the most creative advertisers in the business. Nike's best of the digital marketing campaigns has some basic Charles Barkley's \"I Am Not a Role Model\" (1993) aspects including some of the best digital marketing campaigns of Nike. The leading sportswear cast Charles Barkley in its 1993 commercial who raised a valid point “Just because I Nike believes in marketing strategy is brilliantly supported by dunk a basketball doesn't mean I should raise your kids”. effective ads. Nike doesn't just sell their product but they sell The statement created controversies in Unites states. aspiration. Barkley was not the only one to make this point at the time, but his message was amplified through this ad. 42 | November 2022
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Tiger Woods “Hello World” (1996) COVID 19 Scenario: With their \"Hello World\" promotional video, the leading Lockdown and Covid 19 can be said to be the worst years sportswear presented Tiger Woods to the world when he in world history after world wars and pandemics. The virus started playing professionally in 1996. Few could have made many unrecoverable damages. Many of the people foreseen then how influential Woods would be in the world lost their loved ones, some lost their job and some lost their of golf, but Nike's ad boldly predicted his accomplishments big set-ups raised with hard work. In this scenario many that would shortly follow. The ad gone air and slowly got companies and their owners came forward to help people more popularity in those days. globally. Equality (2017) With the same though some companies over came this phase yet impact of Covid continued on many of the Nike deliberately harnessed the sport's supremacy, as well companies. Currently, it been almost three years for Covid as its athletes', to fight impairment and discrimination in its outbreak yet companies striving hard to come up the loss February 2017 video advertisement. The campaign urged bared in those years. Although safety was more important at people to implement the sportsmanship and justice they the situation but after all it has to been left back and starting witness on the court or on the playing field in their again is what needed. Many of companies like Nike everyday lives. It wasn't made to advertise a product. supported citizens and government to over come the phase. Instead, the label and the athletes intended to highlight a Nike held campaigns and session for employees addressing major social issue in the United States. people and their employees to be aware as well as assuring them safety and security. Nike addressed their customers The tagline of this campaign was, “The ball should bounce and employees, “For the continued safety and wellbeing of the same for everyone, on or off the field of play.” 44 | November 2022
our teammates and customers, our Nike-owned and operated stores will remain temporarily closed in multiple countries around the world. Stores in selected locations are open based on guidance from health and government authorities.” Conclusion: In summary, Nike is the market leader because of its dominant worldwide presence and leadership. Because of its inviting environment, and unrivaled service, a customer's experience at a Nike store is undoubtedly unlike any other sports equipment's shop. Their welcoming “perfect sports associated atmosphere” should be a long-term competitive advantage. The company's retail outlets and on-site collaborations have earned higher response rates, putting them in front of the pack in the mature business. As a result of its all-encompassing marketing approach, Nike enjoys a strong market position. www.theenterpriseworld.com | 45
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