Dubai Chambers concludes six training workshops for Mohammed Bin Rashid Al Maktoum Business Award

The Mohammed Bin Rashid Al Maktoum Business Award, an initiative launched by Dubai Chambers, has announced the conclusion of six training workshops held for the award. The trainings have successfully attracted 137 representatives of Dubai’s business community and award judges, reflecting the comprehensive scope of the award’s new categories.

Established under the umbrella of Mohammed bin Rashid Al Maktoum Global Initiatives, the Mohammed bin Rashid Al Maktoum Business Award was launched in September in its new reimagined form following a series of enhancements to the award model, evaluation mechanisms, and award categories.

The award, held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has introduced four new categories including the Outstanding Business Award presented by Dubai Chambers, the Family Business Award presented by Dubai Chamber of Commerce, the Global Expansion Award presented by Dubai International Chamber, and the Digital Innovation Award presented by Dubai Chamber of Digital Economy.

Commenting on the conclusion of the training, His Excellency Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers said: “The active participation for the award’s training workshops reflects the aspirations of Dubai’s modern and dynamic business community. The Mohammed Bin Rashid Al Maktoum Business Award underwent a comprehensive restructuring to mirror their needs, in line with Dubai's long-term vision and the goals of the D33 economic agenda.”

His Excellency continued: “Designed to improve business strategies, processes, and overall performance, the award comes as part of our drive to promote a culture of creativity and innovation within the local business community. The evaluation criteria are now closely aligned with Dubai Chambers’ strategic priorities and aimed at promoting a commitment to achieving a culture of excellence.”

A total of three training workshops were held and attended by 77 participants from senior management levels within the Dubai business community. These trainings focused on the new Business Award framework and were held to assist potential applicants in choosing the most suitable award category for their businesses.

In addition, the chamber organised three workshops aimed at equipping judges with the knowledge and skills required to evaluate and score award submissions fairly and effectively. Welcoming a total of 60 attendees, the two-day workshops enabled judges to master the new criteria and scoring methodology for each of the four categories.

Participation in The Mohammed Bin Rashid Al Maktoum Business Award is open to both Dubai-based businesses and international companies that have their headquarters in Dubai. Participating companies will be reviewed and assessed by a panel of judges who will also conduct site visits as part of the evaluation process.

The new award is the result of the merger of the previous edition of the Mohammed bin Rashid Al Maktoum Business Award and the Dubai Quality Award, regarded as two of Dubai's most prominent awards for business excellence. The initiative comes as part of Dubai Chambers' drive to elevate standards throughout the business landscape. The award’s new model is based on extensive research and reflects the latest methodologies by focusing on processes and results in key areas as tangible measures of business success including leadership, strategy, workforce management, ESG, and digital transformation, in addition to financial performance.

All applicants will receive an extensive evaluation report on their submissions, and winners will be encouraged to share best practices with other companies throughout the business community. The winners of each category will be honoured during a grand ceremony to be held during the second quarter of 2024 in the presence of participating companies and distinguished representatives of the private sector.

The award represents the highest level of recognition for the contributions of organisations to the sustainable development of Dubai’s dynamic business community. Dubai Chambers' adoption of a framework for business excellence is designed to encourage companies to continuously improve their performance throughout the evaluation process.

The Mohammed bin Rashid Al Maktoum Business Award was originally launched in 2005 under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to recognise the efforts of organisations that support sustainable economic development in the UAE.