Local Business

MBR Business Award: Fostering growth, innovation

Abdul Basit
Filed on November 14, 2013

Number of winners in 7th cycle of award up 14%, participating companies jump by 48%

MBR Business Award: Fostering growth, innovation (/assets/oldimages/b3_14113.jpg)Shaikh Maktoum bin Mohammed bin Rashid Al Maktoum at the Mohammed bin Rashid Al Maktoum Business Award 2013 event in Dubai on Wednesday. Also seen are Abdul Rahman Saif Al Ghurair, Chairman of the Dubai Chamber of Commerce and Industry, Hamad Buamim and Sultan bin Saeed Al Mansouri (left); and Drydocks World official receiving award. — KT photos by Mukesh Kamal

Sixteen companies on Wednesday were honoured with the Mohammed bin Rashid Al Maktoum Business Award for their exceptional performance in fostering growth and innovation and a culture of corporate social responsibility and excellence in the country.

Shaikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, presented the annual awards to the winners from a cross-section of business establishments.

MBR Business Award: Fostering growth, innovation (/assets/oldimages/b1_14113.jpg)The number of winners in the 7th cycle of the award increased 14 per cent compared to last year and the participating companies are 48 per cent higher compared to the 6th cycle. In total 1,100 companies have participated since the inception of the award in 2005.

The 7th cycle of the high profile award was initiated and organised by Dubai Chamber of Commerce and Industry under its strategy of celebrating business excellence.

The award ceremony was attended by more than 1,200 guests including heads of government departments, dignitaries, board members of Dubai Chamber, representatives of business councils, groups and trade centers, a large number of businessmen and members of the media.

The 16 winning organisations, whose representatives received the Mohammed bin Rashid Al Maktoum Business Award 2013 for their top scores were: Dubai Carbon Centre of Excellence, Abu Dhabi Islamic Bank, DP World, Barakat Quality Plus, Drydocks World, Al Mansoori Specialized Engineering, National Fire Fighting Manufacturing, Unilever Gulf, Intercoil International Co, Procter & Gamble, Palm Utilities, EPPCO Aviation, Pacific Control Systems, Huawei Tech (UAE), Valtrans Transportation Systems and Services and Eros Group.

Dubai Chamber awarded DP World with the ‘Most Outstanding Performance’ in 2013 for demonstrating exceptional business performance in addition to its valuable contribution to the economic development of the country.

In his welcome address, Hamad Buamim, Director-General, Dubai Chamber, stated that over the years the award has served as a strong incentive for private sector companies in the country to upgrade their services and stimulate institutional performance as it allows the participants to successfully review and benchmark their business models with the best in the sector as well as compare them with best international practices while making them more fit to compete in a demanding and competitive international business environment. With its emphasis on excellence, the award has become a wider field for competition between companies in the UAE this year, the winners are chosen on their overall scores which are benchmarked in accordance with the highest international standards in corporate performance and in line with leading global excellence awards.

He also said that the current session also evaluated the companies’ adoption of innovation and sustainability across the seven sectors of the national economy with the services sector showing the highest scoring companies which have successfully penetrated into global markets.

He expressed his delight in informing that the Dubai Chamber has expanded the scope of the award to include GCC countries as a step to become an internationally-recognised award, adding that the Chamber team has already started working on the concept of the award for its next phase of growth and development.

Buamim also informed that the number of participating companies in this cycle has reached 160, coming from 36 different business sectors, out of which 80 per cent are participating for the first time.

He congratulated the winning companies and wished them further progress and growth, while urging them to march ahead on their path to excellence by providing services of the highest order. He assured them of Dubai Chamber’s commitment to provide continued support in their contribution to the economic growth of the emirate.

MBR Business Award: Fostering growth, innovation (/assets/oldimages/b2_14113.jpg)

Officials from Eros Group, Naffco and Intercoil receiving awards at the event.

On his part, Sultan bin Saeed Al Mansouri, UAE Minister of Economy and Chairman of the Panel of Judges of the Award, stated that he has seen the growing importance of the Mohammed bin Rashid Al Maktoum Business Award, which honours institutional performance and helps create a competitive business environment in the country.

Over the years, the award has succeeded in instilling a culture of institutional excellence as it recognises outstanding business endeavours in the country and allows a wider section of companies and institutions to compete in the award and emerge winners while also showcasing the competitiveness of Dubai businesses to the world, he said.

The award has kept pace with the best global business excellence standards in creativity and innovation and has adopted latest international practices, Al Mansouri added.

He said that the selection of the winners of this prestigious award is a tough job for the panel of judges as all the participating companies adhere to the highest standards of global best business practices and sustainable performance system. To handpick the winners from these high performing organisations is a daunting task as all the participating companies get the opportunity to successfully review and benchmark their business models with the best in the sector, he said.

The minister further stated that the award’s assessment process provides all the participants with a detailed feedback report on their overall performance including their strengths and areas of improvement as the award has reinforced its position as the leading award for assessing and evaluating institutional performance in the UAE.

The assessment criteria of the award this year focused on performance in key areas like leadership, strategy, customer, workforce and talent management, operations and processes, financial and marketplace, innovation, governance and corporate social responsibility. To be a winner, an organisation must have a sustainable performance system that ensures progressive performance, he said.

Al Mansouri took the opportunity to congratulate the winning companies that have proven their mark in the field of excellence and wished best of luck to non-winning companies as he said that the award is not about winning but benefitting from the evaluation and feedback reports on their performance, and comparing them with the latest global practices to become more competitive in a sustainable and advanced business environment.

The six jurors, chaired by Al Mansouri, included: Mohamed Thani Murshid Al Romaithi, President of the Federation of UAE Chambers of Commerce and Industry and Chairman of Abu Dhabi Chamber of Commerce and Industry, Mona Ghanem Al Marri, Director General, Government of Dubai, Media Office, Khoo Boon Hui, Senior Deputy Secretary, Ministry of Home Affairs, Singapore and Deputy Chairman - Singapore Quality Award Governing Council, Mari Amano, Secretary-General, Asian Productivity Organisation, Japan, and Dr. Harry Hertz, Director Emeritus, Malcolm Baldrige Performance Excellence Program, USA.

The prestigious award, which is a Dubai Chamber initiative, is organised annually has won for Dubai Chamber the Dubai Government Excellence Program Best Administrative Project Award for 2007. On its part, the Award honours institutional performance and helps create a competitive business environment in the country. The Award has empowered many organisations meet international standards to achieve outstanding business performance. It helps participating organisations gain exceptional experience through self-analysis where they benefit from other participants’ experiences in business performance.

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