Question

1.Technological Innovation and Business Strategies in Arab and,New technological trends how would it be applied to contribute to the growth of big firms and SMEs in Saudi Arabia, its impact on society?

Answer 1

In the present complex business environment, no business either the big firm or small, could survive without the innovation. Innovation and its application have become one of the significant parts of business management. The kingdom of Saudi Arabia has been known for merely crude oil supply outside the world, but it has made significant changes in the technological development in almost all field, including the business enterprises. The Kingdom of Saudi Arabia has made an agenda know as Vision 2030, that is an agenda for sustainable development focusing on the micro, small as well as medium enterprises. This agenda affirms the importance of technological innovation. This application of the new technologies has improved the cost, efficiency, and overall enhanced the quality of products or services.
The government is encouraging the innovation by establishing the strategic partnership with corporate and universities and enhancing the performance of the SMEs enterprises by the adoption of transformative digital solution and artificial intelligence to the large extent such as cloud computing, robotics, IoT, Augmented Reality. It is estimated that it would generate 266.6 billion US dollar by the year 2030.  
It has also impacted the society, the aim of this project is not only achieving the economic diversification but developing the tourism sectors creating a state of the art ecosystem for developing the entertainment infrastructure, including sports venues, water parks, theme parks and family recreational centres with best global practices.
Vision 2030 is fueling a social as well as the economic revolution in the kingdom of Saudi Arabia by serving as a catalyst for both the private and government sectors for identifying the appropriate digital tools and deploying them to help to manage the business as well as consumers effectively, increasing transparency, freeing up resource and providing a sustainable growth path for the economy.