Arion Bank brings Dr Michael Porter to Iceland

Dr Michael Porter visits Iceland

Held lectures on Icelandic geothermal energy and healthcare issues

Dr. Michael Porter, one the world’s leading authorities on competitive strategy and the competitiveness of nations, was visiting in Iceland to present the results of his research into the Icelandic geothermal cluster. Arion Bank was the main sponsor of this research and the conference which was held on 1 November to present the results.

The conference, which was the idea of the consultancy firm Gekon, was held in front of a packed audience at the University of Iceland and was a great success. Dr Porter discussed the Icelandic geothermal cluster and where the main opportunities lie. The research carried out by Dr Porter and his colleagues lays the groundwork for the continued development and strengthening of the Icelandic geothermal cluster with the involvement of a wide range of bodies, including Icelandic energy companies, engineering companies, universities and various institutes and ministries.

Dr Porter did not come to Iceland to solely discuss geothermal energy however; he also gave a talk on strategy in healthcare. Dr Porter’s theories on healthcare have also attracted attention around the world. Dr Porter is co-author of the book "Redefining Health Care" which has had a far-reaching influence since it was published in 2006.

Arion Bank and Frumtök, in association with Gekon, organised the meeting for professionals in the healthcare sector. Dr Porter discussed the book under the heading “Value-based Health Care Delivery.” The meeting was moderated by former Icelandic Director of Health Sigurður Guðmundsson, professor and dean of the School of Health Sciences at the University of Iceland.

Dr Porter underlined the importance of finding the best and most efficient ways of providing services to patients and making their experience as positive as possible. Dr Porter believes that specialization is important in the health care sector and in some cases it may be appropriate to go abroad for services which are too expensive to be maintained in Iceland. Dr Porter also stressed the importance of organizing health care around the needs of patients rather than around the specialization of its employees.

Guests at the conference included delegates from the ministry of health, the university, hospitals and the health care sector.