Dubai Center for Family Business launches innovative governance assessment tool
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The Dubai Center for Family Businesses, operating under the umbrella of Dubai Chambers, has launched the Family Business Governance Assessment Tool.
The innovative new platform is designed to help family businesses self-assess the maturity of key aspects of governance within their organizations and contribute to their sustainable success.
Aimed at supporting family business leaders and owners, the comprehensive self-assessment platform features interactive survey tools that enable family businesses to evaluate their existing governance standards and formulate strategies for the implementation of best practices. Developed in line with expert insights and evolving regulatory trends, the platform promotes consistently effective governance approaches that have been adopted by family businesses around the world.
HE Mohammad Ali Rashed Lootah, Chairman and CEO of Dubai Chambers, commented:
“Implementing governance frameworks is a crucial step in achieving effective decision-making and smooth succession that contributes to the continuity of family businesses. With an estimated AED 3.67 trillion in assets expected to be transferred to the next generation in the Middle East over the next decade, ensuring smooth leadership transitions and strengthening governance are key priorities in preparing family businesses for the future”.
swag aggregate:
“The launch of the new assessment tool reaffirms Dubai Chambers’ commitment to boosting the competitiveness of family businesses and ensuring their continuity and sustainable growth.”
He Family Business Governance Assessment Tool helps family businesses develop a roadmap to improve their governance practices. The tool allows companies to compare their performance with other family businesses in Dubai and identify key aspects of governance where improvements are needed. It can also be used at regular intervals to allow family businesses to monitor their progress over time.
The launch of the tool occurs as part of the Dubai Center for Family Businesses‘drive to raise awareness about the importance of good governance among family businesses in Dubai. Working to preserve the legacy of family businesses for future generations, the center has introduced a number of initiatives aimed at supporting the growth and continuity of family businesses in the emirate.
He Dubai Center for Family Businesses was established to strengthen the family business ecosystem in the emirate, support and nurture the family business community and enhance its capabilities in line with global developments to unlock sustainable economic growth.
News source: Dubai Press Office
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