Creating social entrepreneurship value for economic development

Industrial development in any nation plays a vital role in the strengthening of the economy and employs human resources as per specifications and directly towards the mainstream of the nation. In Saudi Arabia, there was rapid industrialization for four decades. Some manufacturing industries performed well, while some internal and external business environment factors influenced the others’ performance. The study focuses on historical development, as well as recent trends of well-performing and poor-performing industries of Saudi Arabia. Small manufacturing industries in Saudi Arabia are underdeveloped and need more attention to attain sustainable and progressive growth rate in the form of the number of establishments to enjoy the potential. Manufacture of tobacco, computer, electronics and optics, pharmaceuticals and transport equipment are the deprived and underdeveloped industries of the manufacturing sector. There should be some easy credit schemes for the development of deprived or underdeveloped manufacturing industries. To attain sustainable growth and development of the manufacturing sector, a positive attitude of the government towards underdeveloped manufacturing industries, favorable labor laws, and entrepreneurial awareness, technical and financial assistance are necessary. The growth and development of the manufacturing sector of Saudi Arabia will be helpful in the attainment of goals of Vision 2030.

Given the rapid and sustained growth of Aspen over the past decade, the main aim of this study is to identify and analyze the growth strategies, adopted by Aspen over the period from 2004 to 2014. The research method used was a descriptive study through a single case study of Aspen by analyzing secondary data in the form of publicly available company reports and presentations, as well as financial results, issued between 2004 and 2014. The study finds that, guided by strategic and visionary leadership, Aspen adopted a number of growth strategies including (i) organic growth, as a key factor in creating incremental value for Aspen and its stakeholders, (ii) inorganic growth, in the form of carefully planned and well executed acquisitions, aligned to the Group strategy, (iii) extending territorial coverage through global expansion, particularly into emerging pharmaceutical countries, and (iv) ongoing investment in production capabilities as a means of achieving a strategic advantage. Despite the challenges of intense competition, restrictive legislation, pressure on medicine prices, currency volatility and market specific risks, Aspen has delivered double-digit earnings growth to its shareholders for 16 consecutive years.

Work creativity manifested in innovative workplace behavior (IWB) and employee work engagement is fundamental to maintaining firm’s sustainability and competitiveness. In this regard, this study investigates the supporting effect of innovative leadership on IWB and employee engagement by maximizing employee vigor, dedication, and absorption. The study data were collected using a questionnaire-based technique, and the questionnaires were administered to 150 respondents working in mobile phone companies in Southern and Central Iraq. The results were analyzed using the Statistical Package for the Social Sciences (SPSS) and SmartPLS software. The study results revealed that inclusive leadership and work engagement were significantly related to IWB, and work engagement played a mediating role between inclusive leadership and IWB. The findings further indicated that inclusive leadership behaviors such as openness, accessibility, and availability motivated the subordinates to be engaged in IWB. To promote IWB, company leaders need to effectively engage their followers by taking pride and satisfaction in employee output, which might help employee work engagement and IWB.