Egypt’s evolving strategy for sustainable economic growth is increasingly relying on the private sector in assuming a greater role in providing the necessary leadership for expanding and pursuing new markets, generating new products or services, and attracting foreign investments. Economic reforms thus far have resulted in a substantial growth rate. Significant reshaping of the present business environment is essential to effect a new workforce culture that is more responsive to a liberalized economy and competitive marketplace, thereby leading to reach an aspired growth rate.
This will require reorientation of organizations’ culture and operating environment, reengineering of systems and processes, and adopting new technologies to produce the high-quality, low-cost products and services desired in today’s global markets. Innovative, visionary leaders and qualified managers supported by a highly skilled and capable workforce will lead Egypt’s private sector corporate transformation towards a greater level of entrepreneurship, managerial responsibility, leadership and accountability.
In November 1998, several leading figures in Egypt‘s private sector realized a need to develop the country’s business culture so that Egypt could compete in an increasingly sophisticated global economic arena. They founded the Future Generation Foundation (FGF), a nonprofit organization, with the aim of bolstering Egypt’s bold strategy for achieving sustainable economic growth through global competition by helping to create a tech-oriented and skilled workforce that could confront the needs of the new century.
FGF is looking to transform the culture of the private sector and reorient it to international norms of excellence and achievement. This will require inculcating new modes of workplace operation, updating and reengineering existing systems, and adopting new technologies. FGF targets human resources at all corporate levels, from executive to middle management to junior executives and recent graduates, in an effort to build and support modern and effective management institutions and practices.