Hamdan Bin Mohammed Celebrates Graduation Of Second Cohort From Dubai Family Business Management Programme
H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, attended the graduation ceremony of the second cohort of the Dubai Family Business Management Programme. This initiative, launched in October 2023 by H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, aims to ensure the continuity and smooth succession of family businesses while enhancing management skills and governance practices.
The programme is organised by the Dubai Centre for Family Businesses under Dubai Chambers, in collaboration with the Mohammed bin Rashid Center for Leadership Development (MBRCLD). It focuses on preparing participants for generational leadership transitions by equipping them with essential administrative and leadership skills.
The graduation event was part of the Mohammed bin Rashid Leadership Forum at the Dubai World Trade Centre. This annual event gathers 1,000 top figures from government and private sectors to discuss leadership transformation and best practices. The forum aligns with His Highness Sheikh Mohammed bin Rashid Al Maktoum's vision to make Dubai a leading global city.
H.H. Sheikh Hamdan highlighted that family businesses are crucial to Dubai’s economy, representing about 90% of all private companies in the UAE. These businesses contribute around 40% to the country's GDP and employ over 70% of the private-sector workforce.
The programme trained second-tier leaders through courses delivered by faculty from the International Institute for Management Development (IMD). Training combined virtual sessions with one-on-one mentorship, focusing on advanced global leadership curricula to enhance governance frameworks and improve performance.
Participants were introduced to Dubai’s economic trends and priorities, particularly the Dubai Economic Agenda D33. The programme emphasised public-private partnerships by involving participants in local economic projects through government-business collaboration.
Leadership Skills Development
The initiative prepared future leaders to play an effective role in ensuring long-term success and adaptability to future demands. Participants explored strategies for building trust within business communities, among family shareholders, and with boards and management teams.
Training included interactive learning sessions, direct engagement with family business leaders, case studies, field visits, and personal mentorship sessions. Participants also worked on development projects for their family businesses using learned frameworks and concepts.
Challenges and Strategic Advantages
The programme addressed specific challenges facing family businesses while leveraging their strategic advantages. It offered a unique opportunity to develop essential leadership skills such as articulating strategic vision, inspiring through storytelling, and recognising emotional intelligence's role in senior leadership.
H.H. Sheikh Hamdan stated that empowering new leaders ensures accumulated knowledge is passed on to future generations. This strengthens their ability to innovate and grow in an evolving business environment.
The programme aims to foster stronger ties between family businesses and government entities to advance economic partnerships. By investing in future leaders, it supports sustainable growth and reinforces Dubai’s position as a leading global business hub.
With inputs from WAM
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