GAC president urges managers to see opportunities in market disruption
DUBAI logistics giant GAC (Gulf Agency Company) urged senior managers to see disruptive techniques and technologies as challenges from which opportunity abounds.
"Disruptive forces are reshaping our markets, but in the process, new opportunities for growth are coming into view," said GAC president Bengt Ekstrandhe at a conference of GAC company managers in Dubai.
"Companies that are willing to rethink their business models, put their customers first, and take advantage of new technologies will find ways to prosper in these turbulent times," he said.
"The challenge is to evolve in a smart way and not throw out important values that have served GAC for 60 years," he said.
GAC has continued to invest in capital assets such as vessels and warehouses in key locations around the world despite the difficult conditions, he said. In 2016, total investment commitments have reached more than US$65 million.
"We need to keep our focus on the long term," Mr Ekstrand said. "It's important not to get swept away by the disruptive forces in our markets and start making wholesale changes just for short-term effects."
"Here in Dubai, we've broken ground on a new distribution centre and similar developments are under way in Indonesia and Thailand.
"We've entered a joint venture for operating a container terminal in Cyprus, and we have ordered five new vessels for our marine fleet."
Mr Ekstrand said the biggest challenge was to ensure the skills, values and attitudes of GAC management and staff were kept strong and responsive to changing market conditions.
"We have to keep our 'can-do' attitude to the fore while exploring ways to ramp up our use of smart technologies that deliver increased efficiency to our people and increased value to our customers."
DUBAI logistics giant GAC (Gulf Agency Company) urged senior managers to see disruptive techniques and technologies as challenges from which opportunity abounds.
"Disruptive forces are reshaping our markets, but in the process, new opportunities for growth are coming into view," said GAC president Bengt Ekstrandhe at a conference of GAC company managers in Dubai.
"Companies that are willing to rethink their business models, put their customers first, and take advantage of new technologies will find ways to prosper in these turbulent times," he said.
"The challenge is to evolve in a smart way and not throw out important values that have served GAC for 60 years," he said.
GAC has continued to invest in capital assets such as vessels and warehouses in key locations around the world despite the difficult conditions, he said. In 2016, total investment commitments have reached more than US$65 million.
"We need to keep our focus on the long term," Mr Ekstrand said. "It's important not to get swept away by the disruptive forces in our markets and start making wholesale changes just for short-term effects."
"Here in Dubai, we've broken ground on a new distribution centre and similar developments are under way in Indonesia and Thailand.
"We've entered a joint venture for operating a container terminal in Cyprus, and we have ordered five new vessels for our marine fleet."
Mr Ekstrand said the biggest challenge was to ensure the skills, values and attitudes of GAC management and staff were kept strong and responsive to changing market conditions.
"We have to keep our 'can-do' attitude to the fore while exploring ways to ramp up our use of smart technologies that deliver increased efficiency to our people and increased value to our customers."