Dubai World vs. Innovation?
Let’s get past the credit issues of Dubai, which will get cleared up, and look at what the Emirate can do to create a long-term, viable future of providing real value. Up front, it won’t be about tall buildings or unique landscaping — it’s about global problem solving. These ideas apply to any company, anywhere.
As background Dubai has been working for years now to create a global center of trade motivated primarily by its diminishing oil deposits. Rather than wait for its oil to dry up, the monarchy determined to turn Dubai into something unusual — a cross between a trading and shipping port and a theme park. The purpose was to create an area so attractive to global businesses that Dubai would become the place to transact business and enjoy a premium lifestyle.
When Dubai’s incredible ambitions were publicized the reaction was frenetic and near frantic: Dubai was the new “It. ” And if you weren’t a part of It you would be left behind. Dubai, viewing the nearly insane response, borrowed and built to keep up with what appeared to be a global onslaught of demand.
Unfortunately the truth was that the hype being generated for Dubai (not by Dubai) was self-feeding and not solidly connected to reality. Like a snake eating its own tail, eventually the hype could not sustain itself and died.
