The Dubai Family Business Centre, which operates under the Dubai Chambers, has organized a training program in collaboration with the Mohammed bin Rashid Centre for Leadership Development for participants of the third cohort of the Dubai Family Business Management Program. This initiative took place in Milan, Italy, aiming to empower and enhance the skills of second-tier leaders in family-owned enterprises in Dubai, ensuring the sustainability of these businesses and planning for future ownership and management transitions.
The training program, which included 27 representatives from various family businesses, offered a unique learning experience at Bocconi School of Management in Milan—one of the world’s leading academic institutions specializing in business administration, economics, and law. Participants also visited several prominent Italian family-owned companies, allowing them to gain insights into best practices and global experiences while interacting directly with renowned family business leaders, thereby providing them with practical perspectives on success strategies and sustainability on an international scale.
The curriculum covered multiple strategic areas, including family business governance, wealth management and family offices, developing the skills of the next generation of leaders, ownership transition planning, ensuring smooth generational shifts within families, sustainability, and responsible investment, along with strategies for conflict resolution and entrepreneurship in family businesses.
Development
According to Khalid Al Gharwan, Deputy CEO of Commercial and Institutional Services at Dubai Chambers: “Family businesses are the backbone of the national economy and play a vital role in Dubai’s business ecosystem. Thus, enhancing the capabilities of second-tier leaders in these firms is a strategic investment that guarantees their continuity across generations and reinforces effective governance and management practices, supporting national economic growth and meeting future demands.” He added: “This training program embodies our commitment to support family businesses in Dubai, enabling them to enhance their competitiveness internationally by equipping their leaders with modern knowledge and international experiences while exposing them to global best practices. This contributes to building resilient business models able to adapt to global economic changes and consolidates Dubai’s position as a preferred destination for family businesses.”
Training Platform
Majid Al Shamsi, Director of the Mohammed bin Rashid Centre for Leadership Development, stated: “The Dubai Family Business Management Program serves as an advanced training platform for preparing the next generation of family business leaders in Dubai by providing them with modern methodologies in leadership, decision-making, and business management. This enhances their readiness to lead their companies with proficiency and professionalism, supporting the continuity of this vital sector.” He continued: “The training program offers a comprehensive educational experience combining theoretical knowledge with practical application, leveraging global academic expertise at Bocconi School of Management in Milan and direct interaction with Italian family business leaders. This allows participants to learn from successful experiences and pioneering business models, developing advanced solutions that contribute to sustainable growth.”
Field Visits
The program participants visited several of Italy’s leading family-owned companies, including Lavazza, founded in 1895 and one of the world’s largest coffee producers, Mapei, a global leader in construction materials established in 1937 in Milan, and Brembo, specializing in automotive and motorcycle brake systems and established in 1961, collaborating with most Formula 1 teams and major automotive companies. They also visited the headquarters of Assolombarda, an association that represents over 7,000 companies from various sectors in the Milan area, where they engaged with young representatives from family businesses.
The program featured interactive sessions with the Garoni family, owners of the ERG Group, along with open discussions about the role of the younger generations in leading family businesses. These visits provided participants with insights into best global practices, bridging academic knowledge with practical experience and offering a comprehensive view of the role of family businesses in driving economic growth.
The training program was facilitated by a distinguished group of academics from Bocconi School of Management, one of Europe’s leading business schools, renowned for its prestigious programs such as the MBA. Participants received scientific and practical content covering family business governance, developing dynamic organizational capabilities, preparing the next generation of leaders, emphasizing behavioral aspects in corporate decision-making, alongside skills in organizational communication and sustainability strategies.
Empowerment
The Dubai Family Business Management Program aims to equip participants to meet the requirements of leadership transitions in family businesses, focusing on building effective leadership skills contributing to smooth generational transitions while enhancing best governance practices in line with the strategic objectives of the Dubai Family Business Centre. The program enables participants to refine their skills through the application of frameworks and concepts acquired, along with engaging in personalized mentoring sessions to achieve their development goals.
Upon concluding the program, participants will be able to make a significant impact in the business environment of family enterprises, encouraging them to plan for leadership succession and sustainability, implementing governance systems according to global best practices, and further supporting family business strategies to prepare them for the future, ensuring their longevity and fostering local and global partnerships.