His Highness Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai, attended the graduation ceremony for the third cohort of the Dubai Family Business Management Programme, held during the Mohammed bin Rashid Leadership Forum. This initiative, organized by the Dubai Centre for Family Businesses in collaboration with the Mohammed bin Rashid Center for Leadership Development, aims to enhance the skills of second-tier leaders in family businesses, which are crucial to Dubai’s economic landscape.
The graduation ceremony recognized 27 participants who completed a comprehensive training program designed to equip them with advanced management skills and knowledge aligned with international standards. Sheikh Ahmed emphasized the importance of family businesses, stating, “They are a driving force of Dubai’s economy and a key contributor to its prosperity.” He reiterated Dubai’s commitment to supporting these enterprises, which account for approximately 90% of private companies in the UAE and contribute around 40% of the nation’s GDP.
Focus on Leadership and Governance
The Dubai Family Business Management Programme aims to prepare a new generation of leaders by enhancing governance practices and promoting a culture of social responsibility within family enterprises. The curriculum includes familiarization with Dubai’s economic priorities, particularly the Dubai Economic Agenda D33, and focuses on leadership transitions and succession planning.
Participants engaged in a rigorous training regimen that combined virtual learning with individual mentoring sessions. They also had the opportunity to study at the SDA Bocconi School of Management in Italy, where they learned from established family businesses such as Lavazza and Mapei. This exposure provided insights into international best practices and strategies for sustainable success.
Building Networks and Best Practices
The program not only emphasizes leadership skills but also fosters networking opportunities among participants and established business leaders. By facilitating dialogue sessions with prominent family business owners, the initiative aims to strengthen collaboration between the public and private sectors, contributing to Dubai’s overall economic development.
In addition to leadership development, the program covers essential topics such as wealth management, conflict resolution, and entrepreneurship within family businesses. This comprehensive approach ensures that participants are well-equipped to navigate the complexities of managing family enterprises in a rapidly evolving economic environment.
As Dubai continues to position itself as a global hub for business and innovation, initiatives like the Dubai Family Business Management Programme play a vital role in sustaining the emirate’s economic growth and enhancing its competitiveness on the world stage.
