Savola shows the way

The Savola Group recently published its net profit figures for the first three quarters of 2001. The figures show a net profit of SR124.1 million as opposed to SR114.3 million for the first three quarters of 2000. This figure represents an 8.6 percent rise in the profit margin.

Also included in the investors’ bulletin were other achievements and contributions which Savola has made to the Saudi business environment. What emerges as you look at the company profile and history is not only its dynamic growth within the Kingdom but also its growth abroad. Beginning as a small company, it has become a leading player in several sectors, the most prominent of course being food oil.

The company’s work has been largely quiet and without fanfare but it has made genuine contributions to the Kingdom’s development. It has made great efforts to put together a select team of Saudis who understand the need to cooperate and the necessity to master technology and use it to run a modern industrial giant in the most professional way.

I was given to understand that the ratio of Saudis employed is high and there is a real determination on the part of top management to identify and seek out the best local talent. The company understands very well that Saudization is not simply replacement of certain personnel. It is attracting, training and retaining the best among our young people. A love for work must be instilled in them and when I was at the company headquarters, I met a young Saudi employee who filled me with admiration and hope for our future. He described his work with a smile on his face and a gleam in his eye. There was no doubt that he enjoyed his job and felt himself part of a team.

Saudi Arabia has great potential in terms of talent; the talent is present but it must be nurtured and major companies must not neglect this aspect of their social responsibility. And from what I have seen and understand, Savola has taken this responsibility very seriously.

Many Saudi companies are now faced with both domestic and international challenges. It is important that they meet the challenges, come up with innovative management and marketing methods. They will have to struggle to retain their place in a world economy where enormous and powerful outsiders are poised to zoom in and break through all boundaries in the name of free trade. This is not about us and them but the economic necessities and realities required for survival and prosperity in the 21st century.