DCCI holds MRM Business Award ceremony this morning

The ceremony was attended by a large number of business communities, and VIPs including their Excellencies the ministers and vice-ministers, ambassadors and consuls to the UAE, director generals and managing directors of government agencies, and members of the executive and economic councils of government of Dubai, business councils and trade bureaus, and different business sectors registered at the DCCI, as well as a number of businessmen and participating organizations' representatives, not to mention the interested in the business sector in the UAE, and a number of journalists and reporters.

The participating organizations are nominated as winners based on the performance factor rather than the excellence factor in running their businesses, depending on general and specific criteria. The general criteria are: first, the strategic initiatives that involve environmental analysis, strategy formulation, performance planning and evaluation, second criterion is leadership that involves setting direction, motivating people, performance management, third criterion is quality that involves work processes, quality systems and customer satisfaction, fourth criterion is corporate culture that involves belief systems, values and ethics, and fifth criterion is corporate social responsibility that involves commitment to contribute to nation and society.

As for the specific criteria, they are outputs that involve the cultural number or quantity of products or services produced by a firm, outcomes that involve the achievements derived from the outputs of products and services of a firm, and impact that involves the benefits accorded to society, nation and others.

The award organizers spared no pains to come up with an optimal and integral model locally developed and formulated so as to go with the domestic requirements, and at the same time taking into account its application to the internationally recognized standards in this field.

The MRM Business Award constitutes an excellent opportunity for the participating organizations who will reap benefits including corporate experience that is based on self-analysis, comparing the management styles and methods with the best practices within the sector the participating organization works in, the objective evaluation of the strength and improvement points for the participating organizations, and realizing the concept of excellence and granting the employees opportunities to showcasing their achievements, and promoting the competitiveness for the participating organization, as well as comparing their works with the best applied practices in this sector.

The DCCI hopes that the MRM Business Award will extend its scope to covering GCC countries and Arab countries as a whole, which will effectively increase the economic growth and push forward the wheel of development at all economic, trading and other vital levels that will effectively mobilize the GCC and Arab countries' economies towards further advancement and enabling them to better compete on the international economic theatre.