Launch event saw presentation of White Paper on 'Managing for Recovery' by Prof. Douglas Reid of Queen's School of Business
Dubai, 17 November 2009: A fully-equipped and modern Resource Centre was unveiled today by the DIFC Centre of Excellence at its premises.
Faten Hani, Chief Executive Officer of the DIFC Centre of Excellence, explained that: "The Resource Centre has a comprehensive collection of the most relevant books and reading material, databases and original research in both hard and soft copy that would be beneficial to the students of the various executive management programmes and post-graduate studies that are taught at the DIFC Centre of Excellence.
The Resource Centre also incorporates the latest and most convenient reading technologies and facilitating environment so as to help students gain the maximum benefit from the knowledge that is contained within its walls.
"The Resource Centre is a major resource through which we hope to encourage and prompt knowledge and research in the region. The DIFC Centre of Excellence was created to advance executive education and knowledge and create a pool of future leaders, skill and talent to meet the human capital needs of our region. The Resource Centre is yet another milestone in this journey," Faten added.
The DIFC Centre of Excellence is home to some of the finest management and executive education institutions such as London Business School, Cass Business School, Queen's School of Business, School of Oriental and African Studies, Duke Fuqua School of Business.
During the Resource Centre launch event, a white paper was presented by Professor Douglas Reid, Associate Professor of Global Business and Distinguished Faculty Teaching Fellow in Strategy at Queen's School of Business.
In his presentation on 'Managing for Recovery', Prof. Reid focused on people and strategy during a recession. His paper takes on special relevance as the world is currently in the grips of an on-going financial crisis.
Prof. Reid began by explaining the meaning of recession as opposed to normal times. "A recession should properly been seen as a psychologically-felt phenomenon wrapped in the ostensibly neutral language of economics. Likewise, its resolution requires a deft response, informed as much by insights into individual human behaviours as by forecasts of aggregate demand."
He said managers' reliance on employee fear of job loss as a management tool is as poor a choice during a recession as it is during a boom.
Prof. Reid categorized behaviour into seven patterns, each with attendant challenges and distinct management requirements. The referent standard for assessment is the concept of employee engagement. "It is known that engaged employees care about the future of their company and display discretionary effort (above and beyond a job description, what is customarily expected) in the performance of their duties."
He described the seven groups as The Terminated, The Fearful, The Indifferent, The Delighted, The Apocalyptic, The Longers, and The Engaged.
Prof. Reid pointed out that the practical burden of managing in a recession is strongly related to displaying behaviour and communicating intent that maximizes the return available from employees, regardless of which of the seven identified groups they happen to belong.
Professor Reid is an authority on corporate strategy and global strategy at Queen's School of Business in Canada. He is also cross-appointed as faculty member at Cornell University's Johnson School of Business. As a researcher, Professor Reid specialises in studying inter-company alliance dynamics and large alliance evolution.
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The DIFC Centre of Excellence :
The DIFC Centre of Excellence was established as a hub for executive and professional development and education. The centre was created by the Dubai International Financial Centre (DIFC) and will reach out to professionals within the Middle East, North Africa, Eastern Africa, the Caspian Subcontinent and the Indian Subcontinent. The centre is situated within the DIFC, the world's fastest growing financial centre and at the heart of cosmopolitan Dubai. The DIFC Centre of Excellence aims to develop a talent pool of professionals for and from the region through partnering with top ranking business schools, professional development providers, corporate universities, as well as certification, accreditation and rating organizations. Currently the partners and programmes include: London Business School (EMBA, executive education programmes, and custom designed programmes); Cass Business School (Offering the world's first EMBA with a specialization in Islamic Finance in the world from the DIFC, Energy or General Management and Finance); Queens School of Business (executive education programmes); Securities and Investments Institute (SII) (finance training, examination and certification activities); the Chartered Insurance Institute (CII) (membership in the CII and Certified Insurance and Finance programmes); and the International Bar Association (IBA). In order to accommodate the needs and interests of busy professionals, the DIFC Centre of Excellence offers a mix of programmes, from one day workshops all the way to a higher degree.
DIFC Media Contacts:
Shaima Al Zarouni
Assistant PR Manager
Dubai International Financial Centre
Tel: +971 4 362 2432
E-mail: shaima.alzarouni@difc.ae
Iman Ahmad
Regional Media Relations Manager
Dubai International Financial Centre
Tel: +971 50 2058021
E-mail: iman.ahmad@difc.ae
Nova Ghadri
Media Executive
Dubai International Financial Centre
Tel: +971 4 362 2499
E-mail: nova.ghadri@difc.ae
© Press Release 2009
