This event, held in collaboration with the DIFC and Nestlé, was on the theme of "Must-Win Battles", a concept that enables companies to set clear priorities among the many initiatives that are competing for the attention of top management. By selecting 3 - 5 key battles which the organisation must win, the aim is to help executives regain a clear business focus in order to achieve the company's most important collective objectives.
The half-day forum, held at Emirates Towers Hotel in Dubai, included a selection of workshops led by Professor Peter Killing, Professor of Strategy at IMD, focusing on understanding the concept of Must-Win Battles and applying this initiative to specific organisations. Case studies were also provided by Abdullah Al-Zamil of Zamil Industrial Investment Company, Sultan Al Turki of Samaco Group and Ahmed and Rashid Bin Shabib of Brownbag.ae.
In his opening address, His Excellency Dr. Omar Bin Sulaiman, Governor of the DIFC and member of the IMD Foundation Board, said: "Across a range of sectors, from telecommunications, IT, and financial services to real estate, hospitality, and retailing, companies in the region are making their mark regionally and globally. Meanwhile, regional-based investment funds, both government-controlled and private, are engaged in headline-making acquisitions across the globe. No matter what paths these businesses are following, this new environment demands that they address a number of issues - all at the same time, and all under demanding and unforgiving market pressures. When companies adopt the thinking of Must-Win Battles, they are able to achieve the growth, the client satisfaction levels, and the profit targets that they need to compete in this globalising world."
Dr. Hischam El-Agamy, Corporate Development Director of IMD commented: "We are delighted to host this Business Forum together with DIFC and Nestlé, demonstrating the regional and international interest in this initiative and the benefits of implementing it for the growth and success of organisations in the Middle East. It is essential for companies here to understand the importance of strategies, such as the Must-Win Battles concept, which will help them to achieve their goals as well as play a vital role in the development of Dubai as a leading regional business hub."
IMD is an independent non-profit organisation offering a range of executive development programmes for individuals and companies at all career levels. IMD's Business Forums gather managers and top decision makers and encourage them to focus on leadership and management issues, creating a platform for cross-industry, high-level debate, as well as ideal networking opportunities.
Participants at the event included over 240 business leaders and professionals within the MENA region and Europe.
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Governor of DIFC addresses audience at IMD's 'Must-Win Battles' Business Forum
- United Arab Emirates: Thursday, April 19 - 2007 at 09:53
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The Governor of the Dubai International Financial Centre (DIFC), His Excellency Dr. Omar Bin Sulaiman, gave the opening address at the flagship Business Forum hosted by the International Institute for Management Development (IMD) held in partnership with the DIFC.
His Excellency Dr. Omar Bin Sulaiman.
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Posted by Anne-Birte Stensgaard, Senior News EditorThursday, April 19 - 2007 at 09:53 UAE local time (GMT+4)
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This article was updated on Sat Apr 28 2007.
Notes and Media Contacts »
Media enquiries:
Amira Abdulla
Tel: +971 4 362 2433 Shaima Al Zarouni
Dubai International Financial Centre
Tel: +971 4 362 2432
About the DIFC:
The Dubai International Financial Centre (DIFC) is an onshore hub for global finance. It bridges the time gap between the financial centers of Hong Kong and London and services a region with the largest untapped emerging market for financial services.
In just under two years, over 371 firms have registered at the DIFC. They operate in an open environment complemented with world-class regulations and standards. The DIFC offers its member institutions incentives such as 100 per cent foreign ownership, zero tax on income and profits and no restrictions on foreign exchange. In addition their business benefits from modern infrastructure, operational support and business continuity facilities of uncompromisingly high standards.
The DIFC is made up of the following core bodies:
1. The DIFC Authority (DIFCA) - Responsible for the Companies and Security Registries and attracting financial as well as non-financial institutions to set up in the DIFC. The DIFC Authority is also responsible for developing the financial services industry. (www.difc.ae)
2. The Dubai Financial Services Authority (DFSA) - An independent, unitary regulatory authority, responsible for the regulation of all DIFC operations. Its principle-based primary legislation is modeled on that used in London and New York and its regulatory regime operates to standards that meet or exceed those in major financial centers. (www.dfsa.ae)
3. The DIFC Courts - An independent court system set up to uphold the provisions of DIFC laws and regulations, the courts provide comprehensive legal redress in civil and commercial matters within the DIFC. The DIFC Courts system is especially designed to deal with all of sophisticated transactions that will be conducted within DIFC. The DIFC Court laws, based on the common law, not only sets out the jurisdiction of the court but also provides for a dispute resolution services, including arbitration and mediation, thus allowing for the independent administration of justice in the DIFC. ( www.difccourts.ae)
DIFC Investments- The creation of DIFC Investments will result in the allocation to it of all non public administration activities previously carried out by DIFC Authority. This will include amongst other things all commercial and other activities such as the operation and management of any current and future subsidiaries, the development of the centre's investment strategy and relevant policies and any other strategic investments or alliances which will further the goals and objectives of the Dubai International Financial Centre and contribute to the fulfillment of the Centre's vision. Some of the companies and organizations that DIFC Investments owns include:
1. The Dubai International Financial Exchange (DIFX) The DIFX is the region's first international financial exchange for equities, bonds, Islamic products, funds, index products and (subject to regulatory approval) derivatives. The target areas of the DIFX for seeking issuers include the Middle East and North Africa, as well as South Africa, Turkey and the Indian sub-continent. The regulator of the DIFX is the Dubai Financial Services Authority. The DIFX is located in the Dubai International Financial Centre (DIFC) and its owner is the DIFC Authority. (www.difx.ae)
2. Hawkamah- the first Institute for Corporate Governance in the region, has been established in partnership with a group of international institutions, including the Dubai International Financial Centre (DIFC), Organisation for Economic Cooperation and Development (OECD), UAE Ministry of Finance and Industry, Centre for International Private Enterprise (CIPE), International Finance Corporation (IFC), the Union of Arab Banks (UAB), Dubai School of Government (DSG) and the Young Arab Leaders (YAL). (www.hawkamah.org) .
About IMD :
IMD, International Institute for Management Development, in Lausanne, Switzerland, is independently recognized as one of the world leaders in executive education. For over 60 years IMD has worked with leading global companies to develop and retain management talent. IMD is the "global meeting place": the most international of business schools worldwide. IMD offers learning based on innovative and highly relevant research. Learning that can be applied to business challenges - immediately. This is IMD's "Real World. Real Learning" approach. (www.imd.ch)
IMD media inquiries :
Alessandro Sofia
IMD Media Relations
Tel. +41 21 610 8636
Mobile : +41 79 458 1864
Amira Abdulla
Tel: +971 4 362 2433 Shaima Al Zarouni
Dubai International Financial Centre
Tel: +971 4 362 2432
About the DIFC:
The Dubai International Financial Centre (DIFC) is an onshore hub for global finance. It bridges the time gap between the financial centers of Hong Kong and London and services a region with the largest untapped emerging market for financial services.
In just under two years, over 371 firms have registered at the DIFC. They operate in an open environment complemented with world-class regulations and standards. The DIFC offers its member institutions incentives such as 100 per cent foreign ownership, zero tax on income and profits and no restrictions on foreign exchange. In addition their business benefits from modern infrastructure, operational support and business continuity facilities of uncompromisingly high standards.
The DIFC is made up of the following core bodies:
1. The DIFC Authority (DIFCA) - Responsible for the Companies and Security Registries and attracting financial as well as non-financial institutions to set up in the DIFC. The DIFC Authority is also responsible for developing the financial services industry. (www.difc.ae)
2. The Dubai Financial Services Authority (DFSA) - An independent, unitary regulatory authority, responsible for the regulation of all DIFC operations. Its principle-based primary legislation is modeled on that used in London and New York and its regulatory regime operates to standards that meet or exceed those in major financial centers. (www.dfsa.ae)
3. The DIFC Courts - An independent court system set up to uphold the provisions of DIFC laws and regulations, the courts provide comprehensive legal redress in civil and commercial matters within the DIFC. The DIFC Courts system is especially designed to deal with all of sophisticated transactions that will be conducted within DIFC. The DIFC Court laws, based on the common law, not only sets out the jurisdiction of the court but also provides for a dispute resolution services, including arbitration and mediation, thus allowing for the independent administration of justice in the DIFC. ( www.difccourts.ae)
DIFC Investments- The creation of DIFC Investments will result in the allocation to it of all non public administration activities previously carried out by DIFC Authority. This will include amongst other things all commercial and other activities such as the operation and management of any current and future subsidiaries, the development of the centre's investment strategy and relevant policies and any other strategic investments or alliances which will further the goals and objectives of the Dubai International Financial Centre and contribute to the fulfillment of the Centre's vision. Some of the companies and organizations that DIFC Investments owns include:
1. The Dubai International Financial Exchange (DIFX) The DIFX is the region's first international financial exchange for equities, bonds, Islamic products, funds, index products and (subject to regulatory approval) derivatives. The target areas of the DIFX for seeking issuers include the Middle East and North Africa, as well as South Africa, Turkey and the Indian sub-continent. The regulator of the DIFX is the Dubai Financial Services Authority. The DIFX is located in the Dubai International Financial Centre (DIFC) and its owner is the DIFC Authority. (www.difx.ae)
2. Hawkamah- the first Institute for Corporate Governance in the region, has been established in partnership with a group of international institutions, including the Dubai International Financial Centre (DIFC), Organisation for Economic Cooperation and Development (OECD), UAE Ministry of Finance and Industry, Centre for International Private Enterprise (CIPE), International Finance Corporation (IFC), the Union of Arab Banks (UAB), Dubai School of Government (DSG) and the Young Arab Leaders (YAL). (www.hawkamah.org) .
About IMD :
IMD, International Institute for Management Development, in Lausanne, Switzerland, is independently recognized as one of the world leaders in executive education. For over 60 years IMD has worked with leading global companies to develop and retain management talent. IMD is the "global meeting place": the most international of business schools worldwide. IMD offers learning based on innovative and highly relevant research. Learning that can be applied to business challenges - immediately. This is IMD's "Real World. Real Learning" approach. (www.imd.ch)
IMD media inquiries :
Alessandro Sofia
IMD Media Relations
Tel. +41 21 610 8636
Mobile : +41 79 458 1864
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