Risk and innovation key to regional business success, says Eisner

Eisner, who was credited with leading one of the most sustained share price runs in corporate history when he was at the helm of Disney, will detail his thoughts on how companies can grow through innovation at the Leaders in Dubai Business Forum, to be held in Dubai in November.

Eisner said: "To succeed, you've got to think stupid and big, as well as courageous and silly. Even if you return and attach disciplines to your thoughts, you'll still get something.

"When you go from new, and different and unusual, someone who is willing to take a risk makes all the difference between success and failure."

He recently named Rupert Murdoch as "possibly the best" media mogul in the world, attributing his success to "just being a smart guy, understanding how the media works, understanding the public, and having a gut".

This thought process reflects Eisner's 21 years at the helm of Walt Disney Corporation, during which time he transformed the corporation from a studio with a couple of theme parks into a global entertainment colossus, worth more than $50 billion.

Through diversification, Disney is now established as a major player in industries across the entertainment field, from television to baseball, publishing, retailing and Broadway stage shows. Saudi Arabia's Prince Alwaleed bin Talal is a shareholder in the corporation, as well as in its theme park Euro Disney.

According to Eisner, he transformed Disney "simply by making decisions", rather than simply asking the question "what would Walt do?"
Eisner revitalised an "old media dinosaur" capitalised at just $2.8 billion, which made just three films in the year before he joined. He brought in Jeffrey Katzenberg to run movies, and output rose to 40 films a year.

By 2004, Disney had increased revenues to $30.8 billion, with net income rising from $294 million to $2.5 billion - an unprecedented feat in corporate America.

He urged leaders to look for talent, not necessarily education, in their employees. "I go for the talent and put up with a lot of peculiar behaviour, none of which I judge, as long as people are basically ethical and moral.

"The ingredients that make for achievement are not necessarily a Harvard education; they are not necessarily from winning an award. It may be the person who's in the back room who's actually just watching, and studying, and who has an understanding of the drive and motives of the company."

The theme for this year's Leaders in Dubai Business Forum is Change and Innovation, and the programme's seven headline speakers will include Lou Gerstner, former head of IBM, and Her Majesty Queen Noor of Jordan. Every speaker will appear live on stage at the event, which will be held in the Dubai International Convention Centre, November 28 - 29.

Leaders in Dubai is the largest annual meeting of successful like-minded individuals in the region and more than 2,000 delegates are expected to attend and discuss the issues and challenges presented in an era of accelerating change and innovation.

Leaders in Dubai Business Forum is organised by IIR, the world's leading business information company.