Abu dhabi: H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence, and Chairman of The Executive Council of Dubai, graced the graduation ceremony of the second cohort of the Dubai Family Business Management Programme.
According to Emirates News Agency, the programme was launched in October 2023 by H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance. It is organised by the Dubai Centre for Family Businesses under Dubai Chambers, in collaboration with the Mohammed bin Rashid Center for Leadership Development (MBRCLD). The initiative aims to secure the continuity of family businesses, facilitate smooth ownership and management succession, and improve management skills and governance practices within family enterprises.
The graduation was part of the Mohammed bin Rashid Leadership Forum, Dubai's key annual event focused on leadership and management, hosted at the Dubai World Trade Centre. The forum gathered 1,000 top government and private sector business figures to discuss administrative and leadership transformation, embedding best practices, and advancing the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum to make Dubai the best city globally.
H.H. Sheikh Hamdan highlighted that under the guidance of Sheikh Mohammed bin Rashid Al Maktoum, Dubai's economy continues to set global benchmarks for leadership and excellence by achieving sustainability, investing in future opportunities, and building strong foundations of diversity and resilience. He emphasized that family businesses are a cornerstone of the emirate's economy, with their continuity and growth driving comprehensive development.
Family businesses are crucial to Dubai's economic landscape, accounting for approximately 90% of all private companies in the UAE. Their investments span various sectors, contributing around 40% of the country's GDP and employing more than 70% of the private-sector workforce.
The Dubai Family Business Management Programme trained second-tier leaders in family businesses with courses delivered by faculty from the International Institute for Management Development (IMD). The training combined virtual sessions with one-on-one mentorship to prepare participants for generational leadership transitions and promote governance best practices in line with the strategic objectives of the Dubai Centre for Family Businesses.
The programme acquainted participants with Dubai's economic trends and priorities, particularly the Dubai Economic Agenda D33. It focused on strengthening public-private partnerships, involving participants in local economic projects through government-business collaboration, and fostering stronger ties between family businesses and government entities.
By equipping the next generation of family business leaders with essential administrative and leadership skills, the programme prepares them for long-term success, sustainable growth, and adaptability to future demands. Training included advanced global leadership curricula to enhance governance frameworks, improve performance, and reinforce Dubai's position as a leading global business hub.
Participants benefited from insights of leading academics, interactive learning sessions, and direct engagement with family business leaders. They also worked on development projects for their family businesses, applying learned frameworks and concepts, and networked with peers from family businesses worldwide.
The programme provided a unique opportunity to develop leadership skills for family business management, including strategic vision articulation, storytelling for inspiration, and the role of emotional intelligence in senior leadership, addressing specific challenges and leveraging strategic advantages.