Launching the second session of “Dubai Family Business Management” to develop the skills of “second-line leaders”

The Dubai Family Business Center, which operates under the umbrella of Dubai Chambers, in cooperation with the Mohammed bin Rashid Center for Leadership Development, launched the second session of the Dubai Family Business Management Programme, which aims to empower and develop the skills of the second generation of family business leaders to ensure the continuity of these companies and plan succession. Ownership and management, in order to prepare and develop effective management skills, and improve governance practices in family companies.

The second session comes as a continuation of the great success of the program launched by His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, in October 2023, while the first batch of program members graduated in September of last year.

The program is characterized by several advantages that make it one of the distinguished educational programs in the world, especially with its combination of precise qualitative education and academic knowledge.

The second session, which includes 29 participants from second-year leaders in family businesses, begins with a training program supervised by an elite group of professors from the International Institute for Management Development (IMD), and constitutes the beginning of a broader journey that includes virtual sessions and personal guidance sessions. The program concludes with a training week in Switzerland, It provides the opportunity for participants to meet representatives of international family companies such as “AP” in Switzerland.

The cooperation comes with the International Institute for Management Development (IMD), one of the most prominent global institutions specialized in developing family businesses, due to its extensive experience in this field since 1990. The Institute contributes to enhancing the success of these companies by providing advanced training programs and customized solutions that contribute to confronting… The challenges faced by family businesses, and ensuring their sustainability across generations.

The Dubai Family Business Management Program is designed to keep pace with the requirements for the transfer of leadership in family businesses to new generations, as the sustainability of these companies depends on investment in preparing their future leaders.

Director General of the Executive Office of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Saeed Al-Eter, said: “Based on the importance of family businesses as a fundamental driver of sustainable economic development and achieving the goals of Dubai’s development plans, the Dubai Family Business Management Program contributes to supporting the ability of these companies to achieve sustainable growth and keep up with them.” “The requirements of the future by providing the new generation of family business leaders with the basic skills to enhance their management competencies and develop their leadership potential to contribute effectively to the companies’ long-term success.”

In turn, Director General of Dubai Chambers, Mohammed Ali Rashid Lootah, said: “Family businesses are a fundamental pillar of the national economy, and the Dubai Family Business Management Program constitutes a qualitative initiative that enhances the continuity of these companies and ensures the smooth transfer of management between generations, as the program focuses on developing the leadership skills and experiences of the second generation.” From the leaders of family businesses, through global advanced training curricula that support their readiness to manage companies effectively and competently, relying on the best international management practices and frameworks, which contributes to the development of their governance systems and supports the advancement “Its performance keeps pace with opportunities and challenges, and enhances its role in consolidating Dubai’s position as a leading global destination for business.”

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Family businesses

According to the 2021 statistics issued by the Ministry of Economy, family companies represent about 90% of the total number of private companies in the UAE, and their investments are distributed in various fields, and they contribute about 40% of the UAE’s gross domestic product, and employ more than 70% of the workforce in the country. sector.

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Basic leadership skills

The Dubai Family Business Management Program provides a qualitative opportunity for participants to acquire a set of leadership skills essential for their success in managing their family businesses, including learning how to clearly express their visions and highlight them strategically to involve family members and employees in them, and enhance their ability to share their goals and visions with the family and employees and give them in-depth meaning. Through storytelling methodologies.