Thursday, Apr 26, 2012
Gulf News
Dubai: The Dubai Chamber of Commerce and Industry (DCCI) yesterday honoured top achievers in the sixth round of the Mohammad Bin Rashid Al Maktoum Business Awards (MRM).
The annual awards are part of the Dubai Governments initiatives to improve the business environment.
Shaikh Hamdan Bin Mohammad Bin Rashid Al Maktoum, Dubai Crown Prince, and Shaikh Maktoum Bin Mohammad Bin Rashid Al Maktoum, Deputy Ruler of Dubai, presented the awards to companies for best practices.
The awards were given to 14 companies in seven categories: service, manufacturing, finance, re-exports, construction, trade, transport and logistics. All the companies are operating in the UAE and free zones.
The awards ceremony was attended by heads of government departments, dignitaries, board members of the Dubai Chamber, representatives of business councils and a large number of business people and members of the media.
Sultan Bin Saeed Al Mansouri, Minister of Economy and chairman of the panel of judges of the awards, said year after year the award has succeeded in instilling a culture of institutional excellence as it recognised outstanding business endeavours.
As success requires you to be alert and update yourself with the changing trends, the award has developed its model and is now open to all UAE-based for-profit organisations, regardless of their type, size or sector. It allows a wider section of companies and institutions to compete in the award and emerge winners, Al Mansouri said.
Talent management
The selection of the winners of this award is a big responsibility as the evaluation process has to be transparent and fair.
It requires a thorough checking and accurate analysis of the participating companies meeting the requirements and criteria of the award which is based on the new Business Performance Model developed by the Dubai Chamber.
The assessment criteria of the award this year focused on performance in key areas like leadership, strategy, workforce and talent management, operations and processes, financial and marketplace, innovation, governance and corporate social responsibility, he added.
To be a winner, an organisation must have a sustainable performance system that ensures progressive performance.
Al Mansouri said the awards allowed participants to successfully review and benchmark their business models with the best in the sector.
It also provides them with a detailed feedback report on their overall performance including their strengths and areas for improvement, he said.
Stimulating business
Abdul Rahman Saif Al Ghurair, Chairman of the Dubai Chamber, said: Since the launch of the Mohammad Bin Rashid Al Maktoum Business Award by the Dubai Chamber in 2005, we realised that we have created an award to reward and recognise exceptional performance in a structured and objective manner.
The award over the years has served as a strong incentive for private sector companies in the country to upgrade their services and stimulate institutional performance, he added.
Al Ghurair added that the award ultimately allows the economic sectors to flourish and Dubai to take its leading position as a key player on the world economic map.
With its emphasis on excellence, the award has become a wider field for competition between the companies and establishments operating in the country, therefore the Dubai Chamber has expanded the scope of the award to include 17 wider economic sectors for the seven categories which opens the doors for a larger number of companies to compete and gain recognition.
By Zaher Bitar, Staff Reporter
Gulf News 2012. All rights reserved.
