Training for members of the Dubai Family Business Management Program at Bocconi College in Italy

DUBAI, 3 March / WAM / The Dubai Family Business Center, which operates under the umbrella of Dubai Chambers, in cooperation with the Mohammed bin Rashid Center for Leadership Development, organized a training program for members of the third session of the Dubai Family Business Management Programme, in the Italian city of Milan, with the aim of empowering and developing the skills of the leaders of the second generation of family businesses in the Emirate of Dubai to ensure the continuity of these companies and plan the succession of their ownership and management.

The training program, in which 27 participants from family business representatives participated, included a distinguished educational experience at the Bocconi School of Management in Milan, Italy, one of the most prestigious international academic institutions specialized in business administration, economics and law, in addition to field visits to a number of major Italian family businesses, which allowed the participants to learn about the best international practices and experiences and direct interaction with the leaders of leading family businesses, and gave them practical insights into strategies for success and sustainability in family businesses at the international level.

The training program addressed multiple strategic topics, including governance of family businesses, wealth management and family offices, developing the skills of the next generation of leaders, planning for the transfer of ownership, achieving a smooth transition between successive generations in the family, sustainability and responsible investment, in addition to strategies for conflict resolution and entrepreneurship in family businesses.

Khaled Al Jarwan, Executive Vice President of Commercial and Institutional Services at Dubai Chambers, said: “Family businesses represent the backbone of the national economy and contribute vitally to the business system in Dubai. Therefore, developing the capabilities of second-line leaders in these companies is a strategic investment that ensures their continuity across generations, and enhances effective governance and management practices, in a way that supports the growth of the national economy and keeps pace with the requirements of the future.”

Al Jarwan added: “The training program embodies our commitment to supporting family businesses in the Emirate of Dubai, and enabling them to enhance their competitiveness at the international level, by providing their leaders with modern international knowledge and expertise, and exposing them to the best global practices, which contributes to building flexible business models capable of keeping pace with global economic changes, and enhancing Dubai’s position as a preferred destination for family businesses.”

For his part, Majid Al Shamsi, Director of the Mohammed bin Rashid Center for Leadership Development, said: “The Dubai Family Business Management Program is an advanced training platform to qualify the next generation of family business leaders in Dubai, by providing them with modern methodologies in leadership, decision-making and business management, which contributes to enhancing their readiness to lead their companies efficiently and professionally, and supports the continuity of this vital sector.”

He added: “The training program provides an integrated educational experience that combines theoretical knowledge and practical application, by benefiting from global academic expertise at the Bocconi School of Management in Milan, and direct interaction with leaders of Italian family companies, allowing participants to learn about successful experiences, pioneering business models, and developing advanced solutions that contribute to achieving sustainable growth.”

The training program was presented by a group of the most prominent academics at the Bocconi School of Management in Milan, Italy, which was founded in 1971 and is considered one of the most prominent business schools in Europe and the world, and is famous for its prestigious programs such as the Master of Business Administration. Participants in the program received scientific and applied content in the governance of family businesses, developing dynamic organizational capabilities, and preparing the next generation of leaders, with a focus on behavioral aspects of corporate decision-making, in addition to corporate communication skills, and sustainability strategies.

Participants in the program visited a number of the most prominent Italian family companies, including: Lavazza, the company founded in 1895 and is one of the largest coffee producers in the world; Mapei, the world leader in the building materials sector, which was founded in 1937 in Milan; Representing more than 7,000 companies from various sectors in the Milan Region and the provinces of Lodi and Monza Brianza, the program members met a group of young family business representatives.

The program featured dialogue sessions with the Garoni family, which owns the ERG Group, in addition to open dialogues about the role of new generations in leading family businesses.

These visits provided participants with the opportunity to learn about best global practices, link academic knowledge with practical experiences, while providing a comprehensive vision of the role of family businesses in promoting economic growth.

The Dubai Family Business Management Program aims to enable participants to keep pace with the requirements for the transfer of leadership in family businesses to new generations, as the program works to build effective leadership skills in a way that contributes to achieving a smooth transition between successive generations and promoting the best governance practices in line with the strategic objectives of the Dubai Family Business Center.

The program allows participants to develop their skills by applying the frameworks and concepts acquired in the program, in addition to participating in personal guidance and counseling sessions to achieve self-development goals.

The Dubai Family Business Management Program works to enhance cooperation between the government and private sectors by benefiting from success stories from previous experiences, and involving members in pioneering economic projects in Dubai within the system of partnerships between the two sectors, in addition to building direct channels of communication with the leadership of the Dubai government, which contributes to supporting the economic development process in the emirate.

By the end of the program, the participants will be able to make a qualitative shift in the business environment of family companies, motivate them to plan leadership succession systems and sustainability, and implement governance systems in accordance with international best practices, in addition to supporting family companies’ strategies and preparing them for the future in a way that ensures their sustainability, in addition to building local and global relationships and partnerships.

• For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Related