Dubai (Etihad)
The Mohammed bin Rashid Center for Leadership Development announced the launch of training workshops for members of the Dubai Economic Leadership Programme, which was inaugurated by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of the Emirate of Dubai, with the aim of qualifying a new generation of national cadres to lead Dubai’s vital sectors. Providing them with the latest global economic and leadership trends and expertise.
The training workshops, which are organized in cooperation with local and international partners from the government and private sectors, aim to provide the 28 members of the Dubai Economic Leaders Program with vital skills that qualify them to lead future economic sectors, and in a way that supports the goals of the Dubai Economic Agenda 33 in doubling the economic growth of the emirate. Dubai over the next decade, and consolidate its position among the top 3 economic cities around the world.
The workshops, which last for 5 days and are supervised by a group of officials, sector leaders, and international experts, focus on enhancing the leadership skills of those affiliated with the program, which contributes to the implementation of the ambitious plans of the Emirate of Dubai, in addition to informing program participants about future economic trends and best practices in developing… And sustainable development of economic fields.
Interconnected elements
The first and second days of the training workshops witnessed the organization of a number of sessions on economic policies and governance, economic crisis management, and the art of negotiation, to introduce participants in the Dubai Economic Leaders Program to a set of tools that help in the successful management of negotiations.
Careem's experience
During the session, Ashish Jain, Executive Director of Finance at Careem, reviewed Careem’s successful experience, and stressed that it is closely linked to the prosperity witnessed by the city of Dubai by providing an ideal investment environment for emerging companies, pointing out that the idea of applying “Careem” Emerging from the founders' desire to simplify and improve daily life through technology, the transportation service was developed in 2012, in response to a need the founders sensed in local markets.
Since 2012, Careem has built a leading platform for multiple services in the Middle East by providing a distinctive package of transportation services, food and grocery delivery, money transfer, and more through a unified application. It has created more than 2.5 million job opportunities for its captains, and simplified the lives of 50 million customers. It has also contributed to the growth and prosperity of the best talent in the region, and supported many startups in expanding the scope of their businesses. Careem is currently present in more than 70 cities in 10 countries from Morocco to Pakistan.
During his participation, Jain shed light on the company's current and future projects, in addition to Uber's acquisition of it in 2019, where he discussed the important aspects and lessons learned from mergers and acquisitions deals, including the Uber-Careem deal in which he participated, where he touched on the context in which It led to the conclusion of the deal, the most important challenges it faced, and the reasons for its success.
During the session, he discussed the most prominent trends in mergers and acquisitions in the Middle East region, which have witnessed a recent increase. He also touched on the art of making deals, focusing on the importance of developing a clear vision of the company’s goals before heading to the negotiating table, striving to balance the interests of the negotiators together to achieve the best results, and being flexible to avoid challenges.
The Executive Director of Finance at Careem spoke about the multiple viewpoints that may occur in the process of negotiating mergers and acquisitions from one region to another, explaining the most important principles that lead to successful business deals, concluding by talking about what governments can adopt to enhance innovation and leadership. Business through economic governance.
Economic governance
Dr. Neville Bolt, a leading thinker in the field of economic policy and governance, spoke about the concept of economic policy and governance in the context of negotiations. He said: “Economic policies and governance can be defined as the process of shaping and changing the most prominent discourses in societies in the long term,” stressing the possibility of economic policies and governance being subject to impact measurement. During the workshop, Bolt focused on three interconnected elements that constitute the essence of economic policies and governance and work together in a continuous cycle whose elements influence each other: memory formation, story telling, and identity development.
negotiation skills
Jonathan Powell, the British diplomat who worked as chief of staff to former British Prime Minister Tony Blair, touched in his session on the basic stages of negotiation, which include the stage of preparation that leads to the start of negotiations, the stage of dealing with them, and finally the stage of agreement and ending negotiations, pointing out that leaders possessing technical skills Negotiation is a powerful tool that achieves leadership success and desired results and contributes to building strong relationships with the work team.
Powell discussed the most important things that should be focused on or avoided while preparing to start negotiations, the importance of identifying the basic points that are not included in the art of negotiation to avoid challenges, and the necessity of developing a plan for the course of the negotiations and constantly reviewing it. He also focused on the extreme importance of building trust between the parties to the negotiations and its impact on changing the course of the negotiations. In addition to the role of mediators.
Powell concluded the session by introducing the program participants to a set of tools that help in overcoming negotiation challenges, including what is known as constructive ambiguity, which allows avoiding raising specific items that focusing on may create challenges. Among the tools he also mentioned is agreeing on procedures that contribute to resolving some issues. Issues for which negotiations are unable to provide a final solution, in addition to expanding the range of options offered to facilitate the making of concessions by the negotiating parties instead of focusing on specific demands that cannot be achieved.
How to build trust
The training workshops were hosted by Rolf Mayer, a former minister in South Africa, where he reviewed his personal experience and mentioned three main factors for the success of negotiations, which are inclusiveness and not leaving any parties on the sidelines, learning how to build trust between the parties to the negotiations, taking responsibility for the negotiation process and taking the initiative to make it successful.
Mayer pointed out that Dubai and the UAE had inspiring leaders who contributed to consolidating their economic leadership globally, just as Mandela contributed to the transformation of South Africa, stressing that the traits of giving and generosity for which the late Sheikh Zayed bin Sultan Al Nahyan, may God rest his soul, was known, and the pioneering thought that he possessed. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, may God protect him, is one of the most important characteristics of a successful leader.
Mayer praised the future vision pursued by the UAE leadership and its contribution to its progress, calling on the program participants to take advantage of the opportunities and advantages offered by the UAE.
Practical exercises
In an interactive session presented by Sameh Badir, Professor of Leadership and Negotiation Sciences at the International Institute for Management Development (IMD), participants underwent practical exercises on managing economic crises.
Badir said that managing economic crises, leading a team, and the art of negotiation are based on dialogue and building relationships, focusing in his speech on the importance of achieving a balance between a bold leadership style (which combines intelligence and confidence) and a calm leadership style (which combines empathy and humility), noting that Dubai and its leadership constitute a living example of the successful management of economic crises in the region and the world over the past decades.
During the session, the participants learned about the importance of sending appropriate signals to the second party in the negotiations, such as punctuality, confidence in submitting offers, etc., in addition to the importance of activating the mediation of external parties that contribute to enhancing the credibility of the negotiations.
Sameh Badir also focused on value creation strategies in the context of deal making, highlighting a number of points that should be avoided during deal making negotiations, including not confusing feelings with business logic, or submitting to accepting offers prematurely.
His session highlighted the importance of building and developing relationships as an essential factor for the success of negotiations, and the participants explored the basics of developing social capital, which Badir considered an essential characteristic of an outstanding negotiator.
During the session, the participants underwent a series of interactive exercises on how to choose tactical negotiation methods based on specific factors, including what is known as (BATNA) or the best alternative to the agreement being negotiated, value-enhancing offers, and employing the authority of the party responsible for decision-making, as you know. Participants learn how to manage the concessions that may need to be made during negotiations.
Participants in the program carried out practical training to conduct trade negotiations, followed by an extensive discussion of the most prominent strengths and weaknesses.
The training workshops will also witness the organization of a number of sessions during which Issa Kazim, Governor of the Dubai International Financial Centre, Joel Nazali, a member of the Board of Directors of a number of international companies, Matthew Agarwala, Director of the Wealth Economics Project implemented by the Bennett Institute for Public Policy at the University of Cambridge, and George Glynos, will speak. , one of Africa's leading economists and founding director of Econometrics, and Daron Acemoglu, a professor at the Massachusetts Institute of Technology and the third most cited economist in the world, on debt restructuring negotiation skills, cost-benefit analysis, and productivity growth.
Participating in the training workshops are members of the Dubai Economic Leadership Programme: Ali bin Zayed Al Falasi, Hassan Mohammed Al Nahdi, Fatima Abdullah Al Shaiba, Mohammed Sulaiman Al Suwaidi, Rashid Atiq Al Marri, Asmaa Hadi Al Tajer, Mohammed Fahad Lootah, Basma Saif Al Shamsi, Majid Saeed Abdul Al-Ghaffar, Abdullah Rashid Dafoos Al-Muhairi, Rashid Muhammad Ali Abdul-Rahman, Ahmed Walid Al-Sawalhi, Hoda Sabeel Abdullah, Alia Al-Sayyid Muhammad Al-Hashimi, Ali Muhammad Al-Qasim, Dr. Abdullah Muhammad Al-Ghafri, Asma Abdullah Al-Hosani, Muhammad Hussein Balshalat, Muhammad Khaled Al-Qasim, Suhail Nour Allah Hassan, Mubarak Rashid Al Dosari, Mira Ali Al Shamsi, Salem Saif Al Shamsi, Sanaa Ali Muhammad, Ammar Ali Jabr, Muhammad Ahmed Al Hashemi, Omar Abdul Aziz Muhammad, Rashid Sultan Al Fujair.
Best experiences
The Dubai Economic Leadership Programme, which is supervised by the Mohammed bin Rashid Center for Leadership Development, aims to prepare national cadres from the public and private sectors, qualified with the best global economic and leadership experiences and knowledge, with a focus on the skills of future economic sectors.
The program lasts for 9 months, during which program members undergo practical training aimed at creating leaders who possess entrepreneurial thinking and management skills to innovate pioneering solutions that can translate strategic plans into projects based on the ground. The program also includes meetings and retreats that bring together program members and international economic figures, as the program provides a platform for dialogue that allows young leaders to benefit from the expertise, experiences and success lessons of these models.
The Dubai Economic Leadership Program system works to develop 8 economic competencies and 8 leadership competencies by providing a thoughtful scientific and practical methodology for the leadership competencies and capabilities required for the next stage of the growth and prosperity of the Emirate of Dubai economically and keeping pace with global changes.
#Mohammed #bin #Rashid #Leadership #Development #organizes #training #workshops #Dubai #Economic #Leaders