Kicking Off “elevate966” with KPMG
Riyadh, September 2017 –
Endeavor Saudi Arabia, in partnership with KPMG Saudi, are launching a program designed to help foster growth in Saudi Entrepreneurs who are a part of ‘Endeavor’. The program, branded ‘elevate966’
is partly a CSR initiative from the KPMG Saudi firm, and one of the services Endeavor provides for its entrepreneurs, kicking off with a series of structured workshops to identify the growth challenges and opportunities with the selected entrepreneurs. The workshops are designed to conduct a holistic assessment of the strategy, devise a robust approach, and thence help implement pragmatic solutions according to the business situation, which could range from mentorship to delivery of specific business solutions by KPMG.
“Saudi Arabia today is turning a very important page in its economic development, and the Kingdom’s SME sector in general, and entrepreneurs’ in-particular, are at the forefront and leading the way to a new future,” commented Islam Albayaa, Head of Advisory, at KPMG in Saudi Arabia.
“We capitalize on the deep knowledge of KPMG to improve the decision-making process at growth companies. Endeavor aims to unlock their potential at this critical stage of the business cycle”, commented Bader Alzahrani, Managing Director, Endeavor Saudi
KPMG, one of the world’s leading accounting and business advisory firms, has a long history of assisting entrepreneurs to build scalable, sustainable and hence valuable businesses. Several other KPMG member firms are within their respective geographies contributing to the entrepreneurial spirit of growth by offering valuable insights, perspectives, ideas, and options. New age technology, digital platforms, increasingly interactive business models cater to fast-changing consumer preferences, hence forcing innovation from entrepreneurs. Key themes that emerge in the current business scenario are scalability, innovation, and digitization, which seek instigating operational excellence, thriving continuous relevance and staying ahead via in the use of technology in business.
elevate966 kicks off with interactive working sessions with the Endeavor Entrepreneurs using KPMG’s proprietary ‘9 Levers of Value’ approach to understanding and exploring business issues, challenges and opportunities, strategy assessment, and then designing and implementing pragmatic solutions towards strategy realization. The framework cuts across the business and operating models (external and internal factors) of the businesses to assess if these complement the financial ambitions of the business. The investigation results in three key takeaways: 1) understanding a business today, and its strengths and weaknesses, 2) designing what a business should become or outlining best practices; and 3) identifying what needs to change and by when.
Elevate966 also seeks to develop key business insights for the Endeavor Entrepreneurs, in the form of sharing knowledge, business and market insights and trends, thought leadership, conferences, and training, for instances on the implementation of IFRS and VAT, as well as the general challenges, difficulties, and hardships that entrepreneurs frequently encounter.