Business Insight February 2015

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February 2015

cubator Data Business Insin ess and your Protect your Bu

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11

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Editor’s Foreword

I

can’t believe February is here already – And I am sure you can’t either! No doubt, like us, you are back in the swing of everything, working away at getting the best start to the new year that you possibly can. But are you working smart enough? Over the last 100 years, the way we work has changed considerably. Are there more changes to come? Of course there are! On page 12 we look at ‘Trends Changing The Way We Work’.

The biggest trend of all has been the advent of computers and our ability to now work from anywhere. How many of you though have streamlined your business, so that when any of your staff work from home or elsewhere, the records are kept with the company? Can you be 100 percent certain that you have full records of all of your customers and know exactly where they are, what they buy and have access to all correspondence relating to them?

If not, one way is by implementing a CRM system. The implantation of any system is often a scary thought, as people tend to think that engaging any system is expensive. However entry-level systems are often free, with reasonable costs per month thereafter. We take a look at 10 systems you may want to consider on page 56.

Data protection in itself should always be at the forefront of a business leaders mind. Why? A leak could not only provide valuable information to competitors, but it could also do irreparable damage to your brand. You only have to look towards the email fiasco that Sony recently experienced to see how easy it is to make a company look foolish. By turning to page 69, you can find out how best to protect your business and your data in our article, ‘Data Protection’.

Whereas on page 60, in our article ‘Businesses Under Attack’, Cherif Sleiman from Infoblox tells us why we shouldn’t just stop at data. He explains how Domain Name System (DNS) security is open to abuse by hackers, as well as spelling out what this could mean for businesses in the region.

Publisher & CEO Liam Williams liam@flipflopmedia.ae Editorial Editor Tanya Selley tanya@flipflopmedia.ae +971 4 369 9063 Staff Writer Rachel Stracey info@flipflopmedia.ae Marketing Head of Marketing Harry Norman harry@flipflopmedia.ae +971 4 369 9062 Design design@flipflopmedia.ae +971 4 369 9063 circulation & Production Circulation and Distribution Manager Antonio de Marco circulationdm@flipflopmedia.ae +971 4 369 9063 Database and Circulation Manager Aaliya Khan databaseandcm@flipflopmedia.ae +971 4 369 9063 Production Manager Juan Vasquez productionmanager@flipflopmedia.ae +971 4 369 9063

Enjoy!

Digital webmaster@flipflopmedia.ae Published by

Tanya Talk to me at tanya@flipflopmedia.ae and let me know what information you need to take your business forward — and I will try to help you in the next issue.

Registered at Fujairah Free Zone PO Box 26734 Dubai, UAE Tel: +971 4 369 9063 Fax: +971 4 369 8989 www.flipflopmedia.ae printed by CMS Printing Press LLC

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February 2015

bator Business Incuess and your Data Protect your Busin

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© Copyright 2015 FlipFlop Media All rights reserved

ISSUE

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While the publisher has made every effort to ensure the accuracy of all information in this magazine, they will not be held responsible for any errors therein.

Appraisal

Telecommunication partner

Courier partner

Work Place Culture succession Planning in the Uae Customer relationship Management

fe b r u a r y 2 0 1 5 C o v e r

Trends Changing The Way We Work www.businessinsight.ae

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Trends Changing the Way we Work

licensed by creative city and national media council

Work Place Culture Succession Planning in the UAE Customer Relationship Management

February 2015 | 3

72 16 February 2015

28

Contents Foresight Page 14 - Expert Panel Page 16 – Trends Changing The Way We Work Page 20 – Building Company Culture: Define, Engage, Scale Page 24 – LinkedIn – The Facts

DMCC Section Page 50 – Dubai Diamond Exchange (DDE) to Host Second Dubai Diamond Conference at Almas Tower Page 52 – DMCC Executive Chairman to encourage the next generation of business leaders

Technology

32

Success Series Page 26 – Interview: Eng. Anshed Muller, Managing Director, SimplyBuyAnyCar.com Page 28 – Interview: Yogesh Mehta, Managing Director, Petrochem

Money Page 32 – Crowd Funding – The Investor Prospective

People

34 56

Page 34 – How To Give An Employee Appraisal Page 36 – Delegation – Empowering Employees

Legal Page 38 – Q&A with Ludmila Yamalova Page 42 – Succession Planning

Marketing & Advertising Page 44 – How To Facebook And Tweet To Maximum Business Effect Page 48 – Linking Into Business

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February 2015

Page 54 – Expect 500% Growth in Venture Capital Technology Investments Page 56 - Customer Relationship Management Page 60 - Businesses Under Attack

Property Page 64 – One JLT

Insurance Page 66 - Dubai Trade and AXA Partnership

Travel & Hospital Page 68 – Paying by the Gram

Business Incubator Page 69 - Data Protection Page 72 – Fighting Fit For Business Page 74 – Food For Thought Page 76 – Lessons To Learn From Others

76 www.businessinsight.ae

EXPERT PANEL John Brash Founder & Chief Executive Brash Brands

Ludmila Yamalova Managing Partner HPL Yamalova & Plewka JLT

Jonathan Hall Founder and Managing Director Mulverhill Associates

Caroline Jones Director Infopod

Yogesh Mehta Managing Director Petrochem

Ravi Bhusari Managing Director & Co-Founder DUPLAYS

Jeffrey Rhodes CEO BTC (part of New Egypt Gold) & Founder & Managing Consultant Rhodes Precious Metals Consultancy DMCC

Zaid Maleh CEO DACH Advisory

Louis Lebbos/ Muhammed Mekki Founding Partner Astro Labs

Ramsey B. Jurdi President American Business Council of Dubai & the Northern / International Partner Chadbourne & Parke LLC

Dr. Tommy Weir Founder Emerging Markets Leadership Center

Nita Maru Managing Partner TWS Legal Consultants

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February 2015

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foresight

Trends changing the way we work he new technology that has become available in recent years has changed the hours we work, where we work, how we work and how much we work… but what is next?

By Helen Gaskell

T

The way we work has drastically changed since the Millennium and it will continue to change from now on, primarily due to the advances in technology.

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February 2015

Our Availability We are always available for work. With the invention of laptops, smart phones and Wi-Fi, we are all able to work at even the most inconvenient of hours; for example when we should actually be taking holiday. How many of you check your work emails over the weekend when we are not in the office? We are either able to answer, or we are expected to by our boss - who has most likely provided the smart phone or laptop, or by our client who is probably himself on his way to a meeting while he emails you. On the one hand, it is great to keep up with your workload and be up to date at all times with what’s going on, but

on the other hand, there is no break or chance to get away from the office even when you’re not there.

While most of us work from an office but are available around the clock at home, or when travelling in a taxi or on the metro, more and more people now opt to work from home or elsewhere on a full time basis. According to Sulzer Infrastructure Services firm in London, today 18 million people work out of the office, compared to four million in 1990. Thanks to faster Internet access, video conferencing and file sharing, whole teams are now able to work remotely regardless of geographic location, and mobile technologies means the number of people working in this way will continue to increase.

Increased Workloads Due to the above factors, our workloads have increased substantially. It doesn’t matter

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foresight

anymore that our business partners, colleagues or other offices might be abroad. So whilst we sleep at night or enjoy our weekend on a Friday, emails are still coming through from overseas waiting for us in the morning. James Campanini from Business Computing World says, “This means we have to work smarter and faster if we want to still enjoy a fulfilling personal life.”

How We Communicate Things have changed and are changing fast. For example, Linkedin is becoming vastly popular as a way of networking.

Ernst and Young say, ‘Google, Facebook, Twitter, smartphones, tablets and e-readers; technologies that originated in the consumer space, are now reshaping the way companies communicate and collaborate with employees, partners and customers.”

Emails are increasingly important, especially in this region. Texting is becoming more acceptable from a business prospective. This is not even to mention capturing information on company websites to make transacting business/taking enquiries even easier.

We can also expect more change when the generation that has grown up with new technologies and instant information gratification joins the workforce.

For example, Gartner forecasts that social networks will become the main form of business communication for 20% of employees worldwide.

Michele Wierzgac who wrote ‘Trends Changing The Way We Do Business,’ believes that the future will deliver powerful information management systems tracking messages more efficiently to solve the problem of emails caught in anti-spam programs. We will see systems developed to help everyone check email, voice mail, mobile messages, and faxes from a single inbox. She says, “Many organisations rely solely on email blasts to share information with their customers. Email does make it faster and easier for the organisation to communicate information and data.”

The modern workplace no longer has a ‘face’; it could be your bedroom, the garden shed, or a coffee shop. The colleagues that you work with day-to-day could be in Peru, India or Sweden” Karen Mattison Founder, Timewise Jobs to recruit for their positions, and job seekers are using it as a tool to network and get ahead.

Diversity/Women In The Work Place Diversity and women in the workplace has become hugely important in companies whether it be for equal rights, or to be cost effective. Employing people from different backgrounds and ages, as well as employing people who can speak different languages and can bring new skills and experiences to the job, enables a company to get the best talent and then be the best. This sets them apart from other companies and makes them stand out.

This may sound like old news as women have been in the work place for a long time however, I am referring to women coming back to work after having children, with more women higher up the ladder than there have been before. According to the international placement firm Challenger, Gray & Christmas, Inc., a very large number of educated women are going to blur the line between men and women working.

Between 1979 and 1999, the number

of women earning four year college degrees jumped 44%, whereas men earning four year college degrees has dropped from 532,000 to 500,000 in the USA. As women move up the organisational ladders, the workforce will have to create a balanced environment between work and home life. Additionally, women are searching for re-entry opportunities after they have left the workplace for a few years to raise a family.

Age Has No Limits The recruitment of older workers is an important benefit to organisations. They are loyal, have experience, and take less time to train. It is important for organisations to pay attention to what seniors want and how to recruit them. Seniors work not only for money but enjoyment and a sense of purpose. Flexible schedules and time off, as well as health insurance and a pension provide the ideal work situation for many.

Flexibility Michele Wierzgac also says that organisations are fixated with outsourcing as a way of controlling labour costs and having flexibility with projects. Dan Pink, author of Free Agent Nation, predicts that

How We Reach And Meet People This is similar to what has been said above but different… What I mean is using social networking sites for business, whether it be for marketing campaigns and brand awareness or getting feedback from their customers by posting polls and surveys. Companies now know what time to post something on Facebook or Twitter so it’s at the top of people’s news feed when they’re having a coffee or lunch break and are most likely to be scrolling down their phone. Both companies and recruitment agencies are using Linkedin more and more

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February 2015 | 17

foresight

will demand project-based, rather than departmental or discipline-based, tasks and responsibilities. Increased digital ‘confidence’ will encourage an entrepreneurial spirit outside the office too.”

Alternatively, Karen Mattison, the Founder of Timewise Jobs sees a different picture, “The modern workplace no longer has a ‘face’; it could be your bedroom, the garden shed, or a coffee shop. The colleagues that you work with day-to-day could be in Peru, India or Sweden. You could have a job of senior responsibility, and work three days a week. The 2020 workplace will see employers offering flexibility as standard practice, even in roles of high responsibility, and this is something all employees will expect; not simply to fit with family but to enjoy a true work life balance.

As no one person is able to predict the future, how the current trends will influence the market remains unclear.

One thing is certain though… Whatever the future looks like, everyone appears to want increased flexibility, the option to work smarter from locations other than the conventional office, and get back their work life balance. So the question we pose is; will you plan and accommodate these so you are known as being ahead of the curve in business, or will you pursue the time will tell method? l

Between 1979 and 1999, the number of women earning four year college degrees jumped 44%, whereas men earning four year college degrees has dropped from 532,000 to 500,000 in the USA” Challenger, Gray & Christmas, Inc.

corporate workplaces will evolve into a continually shifting mix of employees and freelancers. With the potential of affordable health insurance for the selfemployed, freelancers and consultants are developing long-term affiliations with organisations, to the point where it will become difficult to distinguish them from the employees.

Finance The economy has meant we have to spend less and think of other ways to achieve targets. Most companies have had to reduce spending in the last few years, which is probably one of the biggest trends but not one of the best.

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February 2015

What Will ‘Work’ Look Like In 2020?

Obviously this is all supposition, but Timewise Jobs have answered this.

They asked five experts this question because as they say, ‘The office based, nine to five, five day working week has only been a reality since the mid 1920s.

Along with electricity, the telephone and the motor car, the idea of a regular paid ‘job’ was a novel concept to Edwardian England.’ So what will the world of work look like seven years from now?

William Higham, trends forecaster, Next Big Thing predicts that we will see more smart workers and Intrapreneurs in the workforce, “Increasingly selfsufficient, IT-enabled employees who

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foresight

Building Company Culture: Define, Engage, Scale

Culture.

It’s easily overlooked because it’s difficult to measure, but it’s one of the most critical factors to building a successful company

he inconvenient truth is that company culture is incredibly difficult to change once it’s established, so here is some practical advice for getting it right from the start.

T

Define First of all, be deliberate about culture.

Your company’s culture will be dictated by your underlying core values, so start by proactively defining them. And be specific.

Values like integrity, honesty, and respect are universal and implicit; they’re not core. Core values create the DNA of your company and, in that sense, are precisely what differentiates it from any other. A competitor may be able to reproduce your product, but they’ll never be able to replicate your culture – your company’s uniquely shared vision and approach to tackling problems.

By Michelle Joseph, COO, Astrolabs Michelle is passionate about empowering entrepreneurship on a global scale. As the COO of AstroLabs Dubai, she is launching the only Google Tech Hub in MENA, a coworking space designed to support and connect the highest-impact digital startups throughout the region. Prior to joining AstroLabs, Michelle worked at KBW, a NYC-based investment bank specialising in the financials sector and has spent time living abroad in Argentina, Italy, and Spain.

Michelle graduated magna cum laude from Princeton University.

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February 2015

The conventional wisdom among founders is to start early, and in hindsight most say the earlier the better. Generally speaking, I agree. I think founders should discuss their values from the very beginning, but what they define on day one will be aspirational by default.

A more critical iteration of core values should happen after you’ve hired 2-5 employees. At that stage, you can go beyond what you aspire to be; you can prove by example both what you are and what you are not.

That brings me to my next point: tell stories. At AstroLabs, we sat down and defined our core values as a team of four. We started the exercise independently, which was essential. We each wrote down what we believed, based on our own experience, uniquely defined AstroLabs and what we stood for. More importantly, we told a specific story for every value we wrote down.

Upon sharing these, we realised there was a

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foresight

A more critical iteration of core values should happen after you’ve hired 2-5 employees. At that stage, you can go beyond what you aspire to be; you can prove by example both what you are and what you are not� michelle joseph coo, astrolabs

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foresight

consistent set of motivations and behaviors that underpinned all of our stories, which we then consolidated and refined into our core values.

Using stories ensured that we were all aligned on exactly what every value meant and that we could point to solid supporting examples behind each one. Ultimately, sharing these stories will also provide the means for articulating your vision and values to people outside of your organisation.

Engage This is often the most overlooked stage of building scalable culture but perhaps the most important. Culture isn’t a one-time exercise. Core values aren’t something you talk about once and then disregard. They need to be engaged, constantly reinforced and reassessed. Your brand identity should ultimately align with your core values, not the other way around. And functionally, these values should direct all of your company’s goals and decision-making processes, from hiring and firing to taking on and turning down opportunities.

To that end, your core values need to address your customers. Companies that build great products are laser-focused on the end user. At AstroLabs, every new initiative we take on is fully focused on meeting the real and practical needs of entrepreneurs.

Hire Slow, Fire Fast This is a classic piece of advice given to entrepreneurs who want to build successful companies. Netflix is an extreme case, but there’s a reason why CEO Reed Hasting’s 126-page deck on “Netflix Culture: Freedom & Responsibility” has been viewed over 10 million times. One of the key messages is, “adequate performance gets a generous severance package.” Netflix sustains a high performance culture by treating its workforce like a professional sports team. They attract top talent (with impressive compensation packages and plenty of freedom) and promptly fire employees that don’t hold their weight. Again, it’s an extreme example but the principle makes sense.

When it comes to building culture, there’s no room for exceptions. Core values are, by definition, the fundamental elements of your company. Making one exception, albeit in an extenuating circumstance, opens the door for making more exceptions, for discrediting your values, and for undermining your company’s culture. As Clayton Christensen put it, “it’s easier to hold to your principles 100% of the time than it is to hold to them 98% of the time. If you give in to ‘just this once,’ based on a marginal cost analysis…you’ll regret where you end up.”

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February 2015

Your brand identity should ultimately align with your core values, not the other way around. And functionally, these values should direct all of your company’s goals and decision-making processes, from hiring and firing to taking on and turning down opportunities

Scale Again the key here is that your core values and principles should endure no matter how large your company becomes. The way to do that as you’re scaling up your organisation is to maintain accountability.

Stanford professors Robert Sutton and Huggy Rao lay this out in Scaling Up Excellence with a simple equation: Talent x Accountability = Scaling Capacity. To keep your core values intact, you need to create a sense of “mutual obligation.”

As much as the people contribute to a company, employees likewise need to feel a level of accountability to the organisation – financial incentives can help, but you can also boost accountability with other behavioral reinforcements. As your company grows, you’ll have to adapt the tools

and methodology used to enforce your cultural values.

AirBnB, for example, hinges on their core value of making people feel like they can, “Belong Anywhere” and be part of a community wherever they are traveling.

Now with 425,000 people staying in AirBnBlisted homes across 190 countries on a peak night, the challenge is (quite literally) translating their core values beyond their employees to their hosts around the world who will then reinforce them in their interaction with guests. In response, they’ve launched a series of events and a host rewards system to reinforce AirBnB’s sense of community and celebrate positive host behavior.

Company cultures are distinct and the mechanisms for building them will vary across organisations, but it’s always a long-term investment. Define your values early, engage them immediately, and you’ll figure out how to adapt them at any scale. l

Highlight Notes

ll ll ll ll ll ll

ll ll

Be specific on what you want your underlying core values to be Start as early as possible to define your culture Tell stories to assist in formulating what you want your culture to be and achieve Address your customers Hire slow/fire fast and ensure you have the right people for the right positions Make no room for exceptions your core values and principles should endure no matter how large your company becomes Maintain accountability Adapt the tools and methodology used to enforce your cultural values as your business grows

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foresight

LinkedIn – The Facts

LinkedIn is the only pure, business related, social media networking tool available today. when used correctly it can be a powerful tool to driving new business and other business related opportunities, but did you know‌

2

There are over

300,000,000 people on LinkedIn globally

is Number of new LinkedIn members joining per second Source: LinkedIn

The total number of LinkedIn users in the Arab world stands at

8,445,515 as of May 2014 Source: Arab Social Media Report

The main demographic of a user is

Source: 9Clouds

As with Facebook and Twitter, the ratio of female to male LinkedIn users in the Arab world is well below the global average. In May 2014 female users accounted for

29%

Source: Arab Social Media Report

68%

of LinkedIn users were between the ages of 18-35

30-64 years old

Source: Forbes

Regionally

28 billion There were

compared to 60% in May 2013 Source: Arab Social Media Report

Globally Of all online adults,

13% 7%

check in daily, with

more often Source: 9Clouds

0-2 hours

is The average amount of time, per week, which 43.2% of people logon for

Source: Power+ Formula

page views in Q3 2014 Source: LinkedIn

In the MENA region, the UAE has the highest LinkedIn penetration rate Source: LinkedIn

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February 2015

16% are in 50 groups Source: Power+ Formula

41%

of millionaires use LinkedIn Source: CNBC

65% of users are outside of the USA Source: TheRealTimeReport.com

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foresight

41% 15%

There have been over

56% 44% 1billion

have 500+ connections have 1000

endorsements

20

Source: expandramblings.com

It is available in

of users are Male

languages

are feMale

187million is the number of monthly unique visitors to LinkedIn

and has a global reach of 200 countries Source: LinkedIn

Source: expandramblings.com Source: expandramblings.com

A person who posts at least one long-form article has on average,

1049 connections Source: expandramblings.com

Your profile is likely to be viewed

11 times

more if it contains a photo then if it doesn’t

Source: expandramblings.com

83%

Percentage of users who check LinkedIn daily

13%

59%

cite their favorite feature as being

of u use Psers don inter ’t est

76%

of u use sers Tw don itte ’t r

Source: 9Clouds

Whose Viewed My Profile Source: Power+ Formula

74.1% of people have researched people and companies Source: Power+ Formula

www.businessinsight.ae

Source: expandramblings.com

13%

of users don’t use Facebook

59%

of the demographic have never worked at a company with more than 200 employees Source: expandramblings.com

17 minutes per month

is the average time a user spends on LinkedIn Source: JeffBullas.com

In 2014

The number of Company pages rose from 24% to 57% Source: Power+ Formula

February 2015 | 25

success

Interview:

Anshed Mulla Managing Director, SimplyBuyAnyCar.com Anyone who has driven along the Sheikh Zayed Road recently would have seen the huge billboards spanning the road saying SimplyBuyAnyCar.com. With all the advertising, you would be forgiven for thinking that this business has been around for several years, when in fact it is only 8 months old. Now with 15 people in 2 branches, and the planned expansion into Abu Dhabi, we speak with Anshed Mulla, Managing Director of SimplyBuyAnyCar.com to find out how he has been able to move his business forward so quickly What has been the biggest challenge to date?

When you come to a place that you are not familiar with, there is a lot of research that has to be done.

Especially with Dubai and the way SimplyBuyAnycar. com was expanding, it was challenging to overcome the bureaucratic obstacles.

Aligning yourself with the right people is the way to navigate this. That will help you to ease many struggles you may come across. It is the people behind the company supporting you that will assist you to move forward quickly.

So you set up the business, and have a huge online presence. This is quite revolutionary in Dubai…

Of course, this company is online as well as brick and mortar. The e-commerce side of SimplyBuyAnyCar.com was on a different level to what I had expected. The endless opportunities we were faced with on the internet was remarkable. My background is petroleum engineering, so I have not had much experience with the dotcom industry and frankly underestimated its impact.

Finding the right people is very important to you…

I do approximately 25 interviews myself before choosing any person for any position, including the front desk. The company culture is very important and the employee has to fit it.

Culture in general is very important in business in Dubai. We are now one of the leading cities, but to succeed you have to remember how important culture is. The local Arabic culture is very important and you have to understand it. Then you have the western cultures, and Asian cultures, that are all very different.

You have to understand all the cultures and exceed all of their expectations simultaneously.

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February 2015

Getting the right people onboard is so important because any company’s success relies on the people that work for it, so getting the best people for the job is vital.

You are an engineer by trade, what experience do you have in automobiles?

I have been in the automobile industry for 16 years as a hobby in the UK, Europe, Africa, and Asia; Exporting all over the globe. I have seen many different facets of this industry and this role allows me to apply all of my previous experience.

We have just launched an application that will allow you to buy a car from your phone. It is an online car auction, with experts of over 20 years’ experience inspecting the car for free to ensure it is up to our standard before sale.

We want to give a 5* customer service; that is what is expected of Dubai right? We are not interested in getting the labour cheaply. It is more about who will be able to give the service that is expected.

Who inspires you?

Mark Zukerburg of Facebook is inspiring. Building such an empire at his age is grondbreaking. His business has been built with friends. I have tried to do the same here. We have weekly meetings where we update and discuss the challenges that we have, and the problems that we face so we can find solutions together.

In terms of rapid growth, how has that reflected in your business plan?

SimplyBuyAnyCar.com has grown very much in line with my original plan. Of course I make changes.

If I see a chance, I will take it. We try to do as much in house as possible. The whole company is built in house

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success

and it takes twice as long, but it is better this way. It is a lot more work but the control the company has of its affairs is the upside of such a system. I am constantly researching the latest ways of doing things; it is a hobby for me before anything. I spend 11 hours a day, 6 days a week on this.

There is no escaping. Sometimes I get ideas at crazy o’clock in the morning, and usually they are the best! I believe innovation is one of the driving forces behind success and do not intend to stop evolving.

We want to give a 5* customer service; that is what is expected of Dubai right? We are not interested in getting the labour cheaply. It is more about who will be able to give the service that is expected” anshed mulla Managing Director, simplybuyanycar.com

People in Dubai often don’t have a business plan…

Business plans are very important. You should review your business plan at least quarterly, so you can see what you have achieved, and what you need to do to get to where you want/ should be. Spontaneity is good but not wise when risk and money is involved.

What is next for you?

We are working with the Dubai Police and The RTA to make people aware of the problems and complications that people are faced with when buying and selling cars and how to overcome these issues.

We are going to add a service where you can call us on Skype. Video interaction with online customers will hopefully enhance the customer experience even if they can’t visit our branch physically, as we also offer advice and after service, this could prove to be a hit feature with our loyal customers.

You are looking at Abu Dhabi.

What are you thinking of when you are going into new areas?

You need to apply diverse strategies to cater for different clientele.

The mistake that entrepreneurs often make is that they go in and open numerous units, then find they have to close them as the demand isn’t there. I would rather do it the other way around. Our model is taking us to

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Abu Dhabi and then we are heading to Sharjah.

It is imperative that the market is researched thoroughly before any expansion.

For any business, you have to step back and see what is available and sustainable.

What is the best piece of advice that you have been given?

You have to be determined, focused and know the field that you are going into. I see

many people going along with an idea because they like the sound of it, but you have to have the proficiency as well as the passion in order to succeed.

One of my respected mentors once told me, “Don’t buy anything big in your life until you can afford three of them”.

You get given a lot of advice, but at the end, it is down to you as to what action to take. l

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success

success story Interview:

YOGESH MEHTA MANAGING DIRECTOR, PETROCHEM Walking into the office of Yogesh Mehta, Managing Director of Petrochem (ranked 15th in the 50 Richest Indian’s by Arabian Business), you are met by stunning views from the skyscrapers of Dubai Marina, the sea and the palm, all the way towards Downtown Dubai. His large, plush office instantly tells you that this self-made man has arrived and is successful. his success is a far cry from his arrival in Dubai, penniless, in 1990, when he would walk to the library to save 25fils to research business ideas and formulate a detailed business plan. He stayed in Dubai during the Gulf War when others fled the country; his philosophy was “If the war ends, then great, we make money. If it doesn’t end, we will be dead anyway so who cares?”

This stance paid off and he was well onto his way to becoming a Billionaire. “In order to be rich, you only need to make the first US$1million. Being sensible with this amount will make more money. The moment you stop worrying about the bills and rents, you start thinking about making more money.” Now, he has offices/distribution centres in Dubai, London, Mumbai, Antwerp, Singapore and China.

T

So what are the secrets to your success?

I took baby steps. I did everything at first myself.

I felt that if I did not know what the other guy did, I couldn’t employ him as I could not teach him or he could not learn. For example, if I wanted an accountant, I needed to be able to tell him ‘I now need you to….’, or ‘Get … information’, or ‘Tell me where we are on….’

Accountants are normally black and white. They would go to the bank and say ‘last month was terrible.

We only made a 2% margin’. And I would be sat there thinking, “oh my gosh, this isn’t how you talk when you go to ask for money at the bank!”

So I would teach them to say, ‘last month was not as good as the month before’ and don’t tell him the margins!

Be honest, but you can be honest in a diplomatic way. I would not have been able to do this without having first learnt that position. You have to teach people corporate language. The corporate world needs you to paint a picture. It is about confidence and learning the correct way to phrase things.

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You have to live and breathe the company, and all aspects that make it successful. Corporate leaders have to be aware that the buck stops with you. My fear is what would happen to the company if I were not there.

Because you have taught your employees to do things your way, if you depart from it, you know that people are doing what you would do but better. Now you have an ethos and a common culture; you have a team. They are on the same page, thinking about the same problems but from different angles. This is important as you have a one-man idea, which is perfected by others and bettered!

If it were only my dream, it wouldn’t survive.

Improvising is vital. Improvisation on new strategy will bring progress and growth; to innovate, you have to improvise.

You are known as family man…

My son has joined us. The first generation entrepreneur is the pioneer. If the second generation doesn’t stoke the fire, it will have gone out by the third.

I do worry about this, but everyone finds himself or herself, and I know he will. He has changed so much already. Corporate learning is about finding yourself. If you identify with your culture and upbringing, and then employ it into your corporate life you will be successful.

You have been very successful, but you must have made some mistakes during your career. How do you get over these mistakes?

You will always make mistakes this is to be expected.

I make sure I learn from these. The times that I failed were times when I was not disciplined enough.

If you make the same mistake twice, then you haven’t learnt from the mistakes of your life. If you continue to fail to learn from your mistakes, then what does that define you as later on? Loser? Failure? Who wants to be these? You make your own destiny.

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success

My son has joined us. The first generation entrepreneur is the pioneer. If the second generation doesn’t stoke the fire, it will have gone out by the third. I do worry about this, but everyone finds himself or herself, and I know he will� yogesh metha Managing Director, petrochem

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February 2015 | 29

success

What do you think is a leader?

And are they made or born?

Harvard Business School taught us about leadership.

This was ferociously debated. Ultimately, I think, “What happens when you come into the room and no one notices you? You need to be noticed.

You need to have that aura”. That aura does not come from your perfume, the aura is made from breeding, the discipline, the growth that you have. Your education, ideas and breeding make you a leader. A leader exudes confidence.

My job is now mentoring the company, as opposed to actively working for the company. I have to keep on top of all the challenges that a large corporate company face. It is hard work. You sweat blood and cry tears of blood the bigger the company gets.

How do you manage giving negative feedback?

You have to incite confidence.

Currently, our prices are affected by oversupply in the region. It is natural that staff blames their performance on this. In their mind, they become followers rather than leaders. We have to do a lot of brain reconditioning to remind them that they are leaders as opposed to followers - everyday, recondition, polish, reinvent.

People need motivation, insights, and more mentoring.

So your employees are important to you?

Yes! Being a team is very important. You have to lead from the front, in the middle and behind.

From behind you can lead the front.

Think of shepherds leading their sheep. They do so from behind to ensure that no one goes astray.

There are many formulas to educate and develop your team. You want to educate and develop staff to know that there is a better way. In this world, we all want to push the bottom line. The corporate world is unforgiving. If you make money you are fine, but if you don’t you’re a loser, and nobody wants to be a loser.

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We have to do a lot of brain reconditioning to remind them that they are leaders as opposed to followers - everyday, recondition, polish, reinvent. People need motivation, insights, and more mentoring” yogesh metha Managing Director, petrochem In business, whom do you admire?

Carlos Ghosn, (CEO, Nissan). He took over when they were in the doldrums and changed them to a profitable company. When you see him speaking it is with such intensity and passion; his speeches are uncomplicated. He says, “If you never have time for yourself, you will never grow and neither will your company. Find time for yourself ”. He means you need to confront your demons because never having time to yourself means you’ll never face them.

Robin Sharma, (Author, The Monk who sold his Ferrari), puts across the same point very well “Account for your failures, account for your

fears. If you have fears confront them.” If you overcome your fears, you will live a better quality of life. Applying logic to the corporate world means success.

What’s the one piece of standout advice that you have learnt and would like to impart on other entrepreneurs?

Be patient and take ownership of your failures. The youth want instant success and gratification. Patience eludes the young. To find true success, be patient, focused, honest and hardworking. Also, create your luck!

Without luck, you’ll not succeed. l

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MONEY

Crowd funding – The investor perspective…

As business leaders, it is likely that you will think of crowdfunding in terms of raising investment for your business, but have you ever thought of it as a way of investing your own money?

W

e speak to Mark Taylor, a Dubai based investor to find out from him why this method of investing is so interesting to him.

Why did you choose crowdfunding as your method of investment?

I’ve seen the huge success that Peer-to-Peer lending has had in the UK and US and I’ve also seen the high returns that that can be made as an investor! When Beehive launched last year I thought it was a great opportunity for the UAE and I was keen to get involved straight away.

What does Beehive offer that the other crowdfunding platforms do not?

Beehive is lending based rather than equity based and this was more appealing to me as I prefer to lend money for specific initiatives in various businesses rather than take an equity stake in one company. As an investor, this is an area that you need to consider. For myself, I find that the lending based model is a faster moving model as there are actually only 14 days in which to fund a business.

I like the fact that investors compete to fund businesses so when it gets to the end of 14 days and bidding is about to close, it gets quite competitive and you have to ensure your bid is still in the running!

I’ve been in the UAE for 9 years and another positive for me is that I can actually invest in businesses that are local to the UAE, and I am part of fueling their growth as well as the growth of the local economy rather than placing my money into anonymous opportunities overseas.

What did you invest in?

I’ve invested in 3 businesses so far and getting an average rate of about 14.5% on my investments which I’m very happy with! I have bid on other businesses, but I’ve been out bid at the last minute

so it certainly keeps it exciting! The businesses I chose have been a real mix; Panache is a plastics manufacturer, Genyx is a Management Consultancy and Snoopy Pets is a pet re-location service.

Why did you decide to invest into these businesses? What were the factors that stood out to you the most?

The businesses are all so different that I probably wouldn’t ever have ever thought to invest in them individually but seeing their profiles on the Beehive marketplace clearly highlighted each of their individual strengths; for example, the strong management team, high growth potential and innovation pipeline, so it really helped me decide where to place my money.

What made the businesses you invested in seem more interesting to you in comparison to others?

It’s a real spectrum of businesses, but for me it was more about the data that was provided by the businesses themselves. Personally, I like that I can invest smaller amounts into each business so that it is easier for me to build a diversified portfolio. Having a diversified portfolio clearly helps manage any investment risk.

What were the financial rewards that you achieved from investing in this business?

I’m making an average of 14.5% on the businesses I have helped to fund so far and I am definitely keen to keep re-investing my money into new opportunities on the platform.

What would be your top tips for those wanting to invest using a crowdfunding platform?

I can really only answer with a view to peerto-peer lending as that is the only crowdfunding platform I have used to date.

The beauty of Peer-to-Peer lending is that you can lend small amounts so it’s perfect for investors who are new to this type of platform. This arena gives a new investor the chance to try investing in an opportunity with a low level of risk. Once you see the returns that you are making, you will also gain in confidence. Then when you have more conviction you can start to invest larger chunks into a wider range of businesses.

I would advise building up a portfolio of businesses that you invest in, and keep re-investing in new opportunities as they become available, as that will really optimise the level of returns you make on your money. l

“The beauty of Peer-to-Peer lending is that you can lend small amounts so it’s perfect for investors who are new to this type of platform” Mark Taylor, a Dubai based investor

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MONEY

I like the fact that investors compete to fund businesses so when it gets to the end of 14 days and bidding is about to close, it gets quite competitive and you have to ensure your bid is still in the running!� Mark Taylor, a Dubai based investor

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people

HOW TO GIVE AN EMPLOYEE APPRAISAL

It’s nearly the end of the financial year for many companies and the time for giving the annual employee appraisal. Appraisals can benefit both employers and employees by improving their job performance, making it easier to identify what they are doing well, and what they need to improve upon. It gives companies the chance to advise an employee on the most suitable action that needs to be taken for the future. ut how should you give an appraisal – especially if you have areas of their performance that are concerning to you? In our article, we look at what an appraisal is, why it is so valuable to businesses and how you can successfully conduct it.

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What Is An Appraisal?

Also referred to as a performance review and career development discussion, the employee appraisal is the assessment of an employee’s performance, potential and developmental needs, and provides employers with the opportunity to take an overall view of the employee’s quality of work and also to look back on what has been achieved during the period. Once this has been dealt with, both the employee and yourself are able to agree on their objectives moving forward which will increase the performance of the person in question.

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What Does An Appraisal Achieve?

The main objectives of an appraisal are to give managers and employees the opportunity to discuss how they are progressing in their work and to see what sort of improvements can be made, or help given, to build on their strengths and enable them to perform more effectively. An appraisal; ll ll ll ll ll

Enhances communication within an organisation Promotes trust behaviours between the employee and the company/manager Improves your staff ’s personal performance Highlights areas of training that benefits both the company and the employee And ultimately increase the company’s bottom line, as goal setting enables a clear vision for people to focus on, increasing their personal productivity

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people

or constructive criticism, keep these important points in mind: 1.

2.

3.

Give A Fair Appraisal Appraisals can often be biased. Managers could for example, allow their personal feelings for that member of staff to cloud their judgment. Therefore there are certain methods of evaluations that should be considered in order to reduce these errors. ll Give the right of reply – By allowing employees to have their say, you enable your staff to have a voice and air their side. This could highlight and smooth over general misunderstandings, or highlight training issues. Either way, it enables the company team to move on from any grievances that they may have ll Training – Ensure that the management has the correct training to be able to conduct appraisals effectively ll Consider outsourcing an appraisal to a third party – They won’t come with preconceived ideas ll Take the 360 approach – If your company is large enough, you could consider a 360 appraisal. This means that you have feedback from various members of staff from different departments and teams.

Advise your employee in the first instance on who you are approaching for feedback, as they may be aware of a petty misgiving that could mean the feedback would be unfair, but this will give them the opportunity to admit to this in the first instance ll This should not be the first time that an employee has had feedback – be it good or bad. Effective managers will discuss performance regularly, either daily or weekly. Avoid only giving good and bad feedback on recent events. You need to look back at their performance over the whole time to give fair feedback

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ll

If you use a form for completion during the review, share this with the employee so that they will know what is expected of them

When To Appraise A Staff Member It is recommended that appraisals happen at least once a year, however many employers see such a value in conducting these meetings that they conduct them regularly - especially amongst team leaders and managers.

Engagement Remember that an employee’s previous experience of appraisals means that they may view them negatively, and as a waste of time believing that they are another excuse for your employer to say what he really feels, and the meaning of what is said can be lost. The key to a successful appraisal is conversation. However, if your employee feels this way, they may not want to speak up. To encourage conversation we recommend asking questions such as: ll How can I be a better manager to you? ll What do you believe is missing from our weekly meetings? ll What do you hope to achieve for the company this year? ll What do you need from the company in order to support you more effectively in your role?

Top Tips on Giving an Appraisal When giving your employees a performance appraisal, which you should do at least once a year, you may include feedback that is not always positive. But a performance appraisal needs to be honest, even when employees might not always want to hear what you have to say. Whether you’re offering praise

4.

5.

6.

7.

8.

9.

Prepare your appraisal in writing - Writing out your thoughts and evaluations on paper may be helpful in making sure all points of discussion are covered and also allows you to keep a record.

Give your feedback in person and allow plenty of time - Schedule a meeting that is at least an hour long so that you can deliver and discuss the employee’s performance, while also allowing the opportunity for them to discuss your points. Your employee will also have the time to speak freely to you about their experiences and their role.

Relate the appraisal to your business goals - Point out how achievements and areas that need improvement are tied to the overall performance of your business.

This way, your employee can appreciate the role they play in the context of the ‘bigger picture’.

Engage in a two-way dialogue - Although you’ve drawn up the appraisal points for discussion, you need to make sure that the meeting is a conversation, not a lecture.

Encourage your employees to comment and speak freely to you.

Offer specific examples and discuss actions - Your employees need to know when they didn’t meet expectations before they can change their ways.

So be polite and tactful, but be direct when you’re talking about areas that need improvement.

Emphasise opportunities for improvement - Although you may need to cite specific examples of failures, focus on what the person can do to prevent such problems in the future.

Be mindful of your language – being confrontational will mean the appraisal won’t work. Never use language like ‘you never…’ or ‘you always…’ If you want to bring up their tardiness, say “In the past month you have arrived late 15 days out of 20” for example.

Set goals for the coming year - Outline objectives in line with the employee’s career aspirations or spell out the steps necessary to improve in certain areas.

Tip - Encourage your employees to view their appraisal as an ‘opportunity’, not ‘threat’ to their professional wellbeing. Never refer to the appraisal in negative terms and in the build-up to appraisal time, encourage the employee to think about their contribution to the meeting. l

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Delegation – Empowering Employees

By Ceri McVittie, MCIPD

Delegation is a powerful leadership tool‌ We all know this, but do we actually effectively delegate?

Letting go is one of the most important skills to develop when delegating

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here is an art to delegation as it isn’t just about ensuring that as a leader, you are not bogged down in work or alienating your team by micro-managing your staff. Studies have now shown that effective delegation of tasks and responsibilities can have long-term benefits for developing talent. Giving staff responsibility, accountability and the ability to make their own decisions and learn from their mistakes, gives employees the opportunity to feel empowered and develop to their full potential.

If you consider any work place environment, you can see that empowering your teams to make their own decisions is a powerful tool in driving your business forward.

So just what is it about delegation that gets your staff working harder, more efficiently and therefore increasing the bottom line of your company? The bullet points explain all:

T

ll ll ll ll ll ll ll ll ll

Provides opportunities for growth and development Empowers staff by letting them be responsible for the work, whilst increasing morale and selfconfidence Gives yourself more time to concentrate on staff and other management issues Enhances creativity and skills Increases staff involvement and commitment to the job Shows trust and confidence in their abilities and judgment Encourages employees to develop varied skills and expand on the knowledge they already have Provides broader experiences, which allow employees to look beyond their own jobs and responsibilities and see the big picture Motivates employees by providing them with challenges and helping them achieve career goals

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people

Benefits For You So clearly there are many benefits for your staff should you pass more work their way, but the problems arise when you believe that it will take you more time to explain and train a member of staff to complete a job, than it would for you to action it yourself. Sadly this may be the case, but over the longer-term only you can benefit. You will not only develop the skills and abilities of others, but you will also be able to save time, achieve more, increase your value, and develop your own potential: 1. Save time and money: As a leader, you take time to think about goals, not just activities. It is unwise to spend your time doing tasks that your team members could complete themselves.

This will also save you money. The task in question may cost AED1,000 if you do it, but only AED30 if your employee does it. That is quite a saving!

2. Achieve more: By not delegating, you place a heavy burden on yourself.

Delegating work will relieve some of your stress and enable you to focus properly on driving the business forward.

3. Increase your value: Delegating can help enhance your credibility as a leader. By allowing your teammates new ways to show their responsibility, you get their respect and loyalty.

4. Effective delegation is key: Failure to delegate effectively can result in destroying an employee’s confidence and alienating them. The important thing to remember when delegating is that you can delegate responsibility but not accountability; this ultimately rests with you if you are the one who delegated the task. Not all tasks can or should be delegated, and determining what tasks can be delegated and to whom, requires thought and planning.

ll

Trigger boundaries and how to get your re-involvement if or when necessary

Let Go Many leaders struggle with letting go and often have the view, “If I want something done right, I have to do it myself.” Letting go is one of the most important skills to develop when delegating. To overcome this, you should remind yourself at the beginning that sometimes, “good enough is good enough.” Be patient, step back and avoid interfering in the process and progress of the delegation. It is important to show those that you have delegated to that you value and trust them. As a leader one of your responsibilities is the development of others and delegation is a critical part of showing that you believe in both your employees current and potential capabilities.

Not letting go means you deprive your employees of a learning opportunity, and the chance to grow. It sends the (unintended) message that you feel they are not competent or that you do not trust them. Your employees may not do things exactly the way that you would, and your challenge is to let go and learn to be okay with that. It is important to focus on the end result, offer your support and guidance but give responsibility to the employee.

Start by delegating a single, low priority task. You will see that the job can be completed successfully without you, and subsequently you will gain confidence and trust in the process, as will those that you are delegating to. Once you have this confidence you can focus on delegating more. You will soon reap the benefits as your employees develop the skills to

perform tasks well and you can delegate more complex tasks; they may deliver even better results than you!

Effective delegation also means avoiding a number of common pitfalls and mistakes.

It is important to recognise what these are so you can ensure you take the time to mitigate against them: 1. Do they understand the task and it’s value? Clearly communicate the goals of the work, why they are doing it, what it achieves and it’s importance.

2. Be clear: Communicate exactly what is expected, and by when.

3. Are you delegating to the right person?

Don’t give the job to someone who you know is incapable.

4. Handover responsibility correctly: The individual should be accountable only for the things that are in their immediate control. A good management quote for this is “You can abdicate responsibility but not accountability when delegating.”

5. Don’t sweat the detail: You don’t need to know how they got to the conclusion, only that the conclusion is correct. If it all tallies, stop asking the questions!

6. Give them credit: Why take the credit yourself if you are not doing the work?!

Hand over the praise.

It is important to remember that successful delegation is one of the hallmarks of a good leader. Delegating tasks and responsibilities is something that you will be more effective at the more your practice. You will soon free yourself up to focus on other more important tasks and you will soon see your staff being more productive and enjoying the challenges of the extra responsibility. If you learn to be strong enough to let go and empower others to do things that you do not need to, you will ensure success! l

Planning To get the best results, planning is essential. You should sit down with your delegate and plan out the delegation together. That way questions will be answered and clear expectations. The planning stage should include: ll Discussions around specific and detailed task description ll Benefits expected by you ll Training requirements for completing the task ll Methods that will be used to track progress ll Progress and reporting schedule ll Authority and responsibility assigned

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February 2015 | 37

LEGAL

legal hour q&a

ludmila yamalova MANAGING partner, HPL Yamalova & Plewka JLT

Ludmila Yamalova, our resident lawyer regularly gets asked questions, not just from business owners, but employees too. In our article, Yamalova has given us a selection of the types of questions she fields on a daily basis, together with the advice that she provides for the readers of Business Insight.

Ludmila is a founder and Managing Partner of HPL Yamalova & Plewka DMCC, since 2009. Ludmila is a U.S. qualified attorney, Juris Doctor, admitted to practice before the California Bar, with thirteen years of legal experience. Ludmila and her firm provide general corporate advisory and all forms of dispute resolution services.

Social media twitter.com/ LudmilaYamalova www.facebook.com/ HPLYamalova

Q: My landlord is demanding a rent increase of nearly 20%. He says since the building is in the DIFC, the limitations I’ve heard about in other parts of town don’t apply here. Is he correct?

A: He is correct. The DIFC freehold is not subject to the Dubai Municipality tenancy laws. In general, Dubai real property laws do not apply within the DIFC zone, according to DIFC Law No. 4 of 2007. The DIFC has its own property laws, including those regulating tenancy issues. The DIFC tenancy laws in turn, do not set limitations on rent increase.

As such, landlords are free to increase

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The DIFC freehold is not subject to the Dubai Municipality tenancy laws

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rent irrespective of the RERA rent index.

But parties can agree on the applicable rent increase in the tenancy contract. It is imperative therefore, to clearly address the potential and applicable percent of the rent increase before signing the agreement. That agreement in turn, would be subject to the jurisdiction of the DIFC Courts.

Q: The lease on my office will be ending soon. The contract states that there will be “automatic termination” at the end of the lease period. Does this mean my landlord can require me to move

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LEGAL

ll ll

ll

The period of prescription for periodically recurring rights is 2 years The period of prescription for physicians, pharmacists, lawyers, engineers, experts, professors, teachers and brokers rights is 5 years Regarding taxes and fees due to be recovered, if such have been unduly paid, the period also is 5 years unless there is a special law defining a different period

A period of 2 years is applicable for the following rights: ll The rights of merchants, manufacturers in respect of things supplied to persons who do not trade in such things; rights of hotel and restaurant owners for the cost of accommodation and food and for expenses incurred by them on behalf of their clients ll The rights of workmen, servants and wage earners in respect of their pay, daily or otherwise, and the cost of supplies provided by them Note: All aforementioned periods may be extended whenever a legal excuse is available.

out or sign a completely new agreement with different terms?

A: Under Dubai tenancy laws, a tenancy contract does not terminate automatically.

Instead, it renews automatically on the same terms, until either parties agree to change the terms or terminate it. This is mandated by Dubai Law 26 of 2007, Article 6. In the event the landlord wants to change any of the terms, he must notify the tenant 90 days in advance, as per Law 33 of 2008, Articles 13-14. This includes termination of the tenancy or rent increase. Notification alone however, is only the first step. The tenant then has to agree.

In the event the tenant does not agree to the changes in the contract, the parties should take the dispute to the Rent Committee. Without either an agreement or a Rent Committee judgment, a landlord cannot unilaterally change the terms of the tenancy agreement.

Neither can the landlord force the tenant to sign a new agreement.

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Q: If you bring a court case against a company here, be it against a bank, an ex-employer, a landlord etc., is there a time limit within which you have to register the case with the relevant court?

A: The period during which a claim could be filed is referred to as a statute of limitation. The statute of limitation in the UAE, is governed by articles 473 to 488 of the law of civil transactions (Law No. 5 of 1985). Pursuant to that law, rights shall not be extinguished by time limitation. But the hearing of the court case, against the one who denies it, shall not be admissible after the lapse of fifteen years, unless the law specifies otherwise.

Some types of debts however have a shorter time period under the Civil Transactions Law. For example:

Q: What should I do if the landlord has failed to return the security deposit, after the expiration of our tenancy contract?

A: In the event that a landlord has failed to return tenant’s security cheque for no valid reason, the tenant should bring a case with the Dubai Rent Committee. There is however an increasingly stringent process for filing cases with the Rent Committee. First the tenancy contract must be registered with RERA, e.g.

Ejari registered. Then the filing fee is 3.5 % of the annual rent plus 3.5% of the claim amount in addition to extra administrative fees. In the event of a favorable judgment for the tenant, the landlord will be required to reimburse the tenant for the filing fees. Finally, a set of documents must be presented along with the claim, for the claim to be accepted. Those documents are; description of the claim in

Employees who are still on the visa of their previous employer should avoid working for their new employer as to do so is illegal under the UAE immigration and labour laws

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Arabic, original lease contract and any other supporting documents, legally translated, title deed, if property is located in a freehold area, passport copy for the tenant and landlord, authorisation to the person in charge to attend, original public notary with report or register mail, receipt of payment 3.5 percent value of the lease and four copies of all document and invoice payments.

Q: I haven’t been paid pending salaries, commissions, and end of service gratuities yet after being terminated from my 5-year post in Media City. I have already joined another firm, but my visa cannot be transferred due to the pending payments from the previous firm.

What is the proper procedure?

A: Employees who are still on the visa of their previous employer should avoid working for their new employer as to do so is illegal under the UAE immigration and labour laws. It is highly recommended that the visa is cancelled and the new visa is obtained prior to starting work with the next employer. Issues with the previous employer should be addressed through the employment/labour dispute committee at the free zone. As the previous employer is licensed by the Media City, they are subject to the regulations of that free zone and will be required to attend the meeting.

At that meeting, the committee will try to settle the dispute, which will include the end of service benefits and late salaries. In order for the previous employer to release an employee, the departing employee must confirm and sign off on having been properly compensated. If the dispute is not resolved with the committee, the employee should file a case with the Labour Court. The Labour Court will rely on the UAE labour laws, which require the employer to settle all dues to the employee.

Q: My Ministry of Labour contract does not show the actual wage I am paid as I have had pay rises since joining my company 6 years ago. Do they have to legally update it and will this then affect my gratuity?

A: A contract should be updated on a regular basis with the Ministry of Labour.

The date of starting

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Under Dubai tenancy laws, a tenancy contract does not terminate automatically. Instead, it renews automatically on the same terms, until either parties agree to change the terms or terminate it employment remains the same, but your gratuity will be calculated using your last salary and the number of years you worked. If for some reason, the contract is not updated and the firm is unwilling to calculate gratuity based on current salary, than a statement of bank transfers of regular fixed payment may be used to prove the amount of the last salary.

Q: I have an issue with sponsoring my child. I am a mother and I work as a manager. My husband is a doctor, currently studying in the US. Before my husband left for the US to study, both my child and I were under his sponsorship.

My husband and I grew up in the UAE and my daughter was born here. The immigration authorities have told me that I do not qualify to sponsor my child because as a woman I must either be a doctor or a teacher to qualify.

A: The requirements and limitations for women to sponsor their dependents are based on Article 28 of Ministerial Decision No. 360 issued on July 16, 1997 regarding the issuance of the bylaws of the UAE Law No. 6 of 1973, Regarding Aliens Entry and Residence.

Under Article 28(h) women can sponsor their family members if they are, “working in one of the rare or important specialisations, such as medicine, engineering or teaching or similar specialisation…whenever the conditions of the required guarantee are fulfilled.” Furthermore, Article 23, Fourth Clause, Paragraph (f) of the same law

provides additional details on the definition of the required specialization. Under Article 23, a woman working in, “a rare and important field, such as medicine, engineering, teaching of the like specialisations which require a university diploma, or cycles of specialisation of not less than one year in the same professional specialisation, to be determined in consultation with the competent bodies…”

Thus, for women to qualify to sponsor their family members there must be at least two requirements. One is the rare or important specialisation, which is further supported by a university diploma. The precise definition of what such professions might be, other than the ones stated, is not provided. Much depends on the authorities involved.

The other requirement is the required guarantee, in other words, salary. While the law does not provide for the exact amount of salary required, in practice a salary of AED 10,000.00 has been held sufficient.

In conclusion therefore, a woman seeking to sponsor her child should obtain the maximum amount of evidence to prove that she meets those requirements. This should include, among other things, documents such as attested degrees, letters from the employer explaining the importance of her job, a salary of AED 10,000.00 and any other such documents. Then, a meeting with the immigration authorities should follow.

Bringing a copy of the law is highly advisable, as it is broad enough to include professions beyond just doctors, engineers and teachers. l

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LEGAL

Succession Planning for Businesses in the UAE

By Ludmila Yamalova Managing Partner, HPL Yamalova & Plewka

Succession planning usually refers to a process of identifying and developing people and systems to fill key business leadership positions in a company as part of a major transition. In the UAE, the notion of succession planning has a special meaning and application. This is due to the country’s current legal framework and its practical implications.

Ludmila is a founder and Managing Partner of HPL Yamalova & Plewka DMCC, since 2009. Ludmila is a U.S. qualified attorney, Juris Doctor, admitted to practice before the California Bar, with thirteen years of legal experience. Ludmila and her firm provide general corporate advisory and all forms of dispute resolution services.

Social media twitter.com/ LudmilaYamalova www.facebook.com/ HPLYamalova

a triggering event for succession planning is change of the company’s general manager

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irst of all, the events that could trigger succession planning in the UAE are of two major categories.

One category refers to the change of corporate ownership in the form of share transfer. The other category refers to the change of management, which in itself is a term of art.

Second of all, succession planning in the UAE is much more about understanding and putting in place the right systems, as opposed to identifying the right individuals, in order to allow for the change to happen. This is because any change in the corporate structure necessitates, first and foremost, a whole

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series of administrative steps, which consist of documents and processes. Until certain documents have been submitted and certain processes have been followed, no corporate change can take place.

Share Transfer One of the triggering events for succession planning for a corporation in the UAE is the change in ownership.

Change in ownership in turn, happens in the form of a sale or transfer of shares.

Events that can trigger change in corporate ownership are several. It could be a simple sale of interest by one or more of the company’s shareholders, for whatever reason. It could also be triggered by the

death of one of the company’s owners, or it could be an event such as the company’s liquidation or bankruptcy.

Succession planning for these events in the UAE could be fairly limited. This is because under the UAE legal system, shareholders may have restricted ability to plan for future transition and change in ownership.

In particular, a limited liability company (LLC), which is set up outside of a free zone, will always have a majority shareholder (51%) who is a UAE national. Therefore, any change in ownership will always require his consent, as the majority owner. Parties’ agreements providing otherwise (which

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whole series of documents from the mother company, which must follow a certain process. In particular some of the required documents include shareholder/ board resolution of the mother company authorising the change, certificate of incumbency of that same mother company certifying its current ownership structure, power of attorney to the new manager, revocation of the power of attorney from the old manager and so on. More importantly, all of these documents must be notarised in the relevant country, then legally translated into Arabic. Following this they must be attested by the UAE Embassy of the relevant country and further attested by the Ministry of Foreign affairs in the UAE. This process can often take weeks, if not months.

are usually memorialised in side agreements) will be held invalid, should the majority partner challenge the agreement at a later point. Free zone companies, who are not subject to such restrictions, have more flexibility in structuring their corporate undertakings to allow for a smoother and more predictable transition.

In the event of a change of ownership due to the death of a shareholder, the parties’ ability to provide for succession planning is even more limited. This is because in the event of death, the personal status law (otherwise known as inheritance law) comes into play. In the UAE, which is a Muslim country, Sharia law will apply to all shareholders who are Muslim. Disposition of their assets, including ownership of corporate interests, will be treated under Sharia law, which provides for different treatment than the companies law. Parties’ agreements providing for the disposition of corporate interests under different principles will not be honored. Ultimately, the disposition of company shares in the name of a deceased shareholder will always be subject to the local court’s order. This applies to both Muslim and non-Muslim shareholders. The only difference is the choice of law applied in deciding how to dispose of the assets.

Change of Manager The other triggering event for succession planning is change of the company’s general

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manager. The change of the company’s general manager must be planned well in advance, with thorough understanding of the processes and documents required to affect such change and their timely implementation. This in turn, stems from two factors unique to the UAE legal system. One is the special role played by the company’s general manager. The other one relates to the documents that are required to be submitted, especially when they are issued outside of the UAE. The notion of the general manager in the UAE is a term of art. In particular, this is the person who is listed on the company’s trade license as the manager. The powers that are held by such manager are vast and immediate.

The manager holds, among other things, signatory authority to the company’s bank accounts, power to hire and fire employees, sign company documents and overall bind the company in all business dealings.

In other words, in the eyes of the authorities, the person listed on the trade license is the official, if not sole decision maker. On the day-to-day basis, this person yields more power than even the shareholders themselves. Furthermore under the UAE corporate law, it is almost impossible to limit those powers, at least in practice.

Furthermore, to change the general manager for a UAE based company that is a branch of a foreign company requires a

Conclusion In conclusion, it is important to understand that succession planning for a UAE based company is subject to many restrictions and limitations. Therefore, it is essential first to properly learn and understand the country’s legal framework that applies to corporate structures.

Then parties must be aware of what they can and cannot plan for, and rely on terms of succession planning of their businesses, managing their expectations accordingly. As such, all legal documents and understandings should be drafted with this in mind. Throughout all of this, parties must always keep in mind the UAE’s requirements for documentation and its legalisation.

Any corporate changes therefore should be planned well in advance, with all of the required documentation prepared, and lined up timely prior to making any significant decisions or changes locally. l

The events that could trigger succession planning in the UAE are of two major categories. One category refers to the change of corporate ownership in the form of share transfer

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How to Facebook & Tweet for maximum business effect Businesses have always tried to promote themselves on the Internet, but often without much success. Ahmed Abugosh, the Learning and Development Manager from Astrolabs, explains what we are doing wrong.

n the early days, it was through Forums, Usenet groups, chatrooms, and any other platform where people congregated. With the rise of Social Media, businesses finally had a legitimate outlet to open themselves up to the public, without having to be spammy and in-your-face about it (or at least less so). The age of permission marketing is in its last stages. People choose to follow what you want to say as a company now, and that is an empowering thing. However since literally almost every single business in the world is on Social Media nowadays, it is that much harder to be heard. You have to do a lot to stand out, and that takes both time and dedication. I’ll be discussing in this article how best to leverage the two most

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By: Ahmed Abugosh, Astrolabs Ahmad loves to learn and help others grow and reach their potential. As the Learning and Development Manger at AstroLabs, he helps craft technical classes and workshops that help people grow their technical digital knowledge.

Before AstroLabs, Ahmad worked at MBC, Namshi, and RBBi. He has a degree in Computer Engineering from the American University of Sharjah.

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popular social media communities: Facebook and Twitter, for maximum business effect.

The first thing you should keep in mind with your social media channels, is that there are two kinds of traffic you can generate from them: 1. Organic traffic, which is the free traffic you get when you normally post something and 2. Paid Traffic, which as the name suggests is traffic you get from paying Facebook and Twitter money to promote your content to a wider audience.

I know that people like to get things for free, but the fact is that nowadays, it is almost a requirement to have a budget dedicated to paid social media ads. You can get by with just organic ads, but especially after Facebook’s recent EdgeRank algorithm update, it is nearly impossible for you to gain traction on social media without spending some money. The key is to spend it wisely.

Don’t Waste Your Time Now the first thing you need to have in place, to ensure that you

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aren’t wasting your time and money with your social media efforts, is to start implementing Analytics. That’s just a fancy word that means you start tracking the number of people that come to your site through other websites (and in this case through social media). The most popular and free tool to use is Google Analytics. This tool allows you to easily tag each url you post on social media, as a marketing campaign, so you can compare performance and look at conversion rates across different marketing channels, campaigns and date ranges. Once in place, Google Analytics can provide you with not only the source of each person coming to your website, but also exactly what they do once they’re on your website. Facebook and Twitter also have their own built in Analytics tools (when you have paid ads), but this is only limited to the performance of the ads.

Once they click on the ad, you need to have Analytics setup on your own website to truly make informed decisions.

What To Post Once you have Analytics setup, you can begin to post on your social media channels. But what should you post? To start, you can start posting about your company. Mention the products and services you offer. Mention any deals or special offers you have to encourage people to go to your website or interact with your brand. That’s not enough though. In this modern day and age, if you only have a page that promotes your own products and services in a direct way, people will get turned off. You need to harness the social side of social media.

That can be done through, posting about topics related to your business industry, posting company news and highlights (company outings, new hires etc), or getting creative and creating blog posts, or video vlogs on different areas your company is focusing on. Everyone has heard the overused phrase “Content is King” (and Queen). It’s overused because it’s true. If you have content people want to engage with, people will engage with it. A good way to test this is to step back before you post something and ask yourself if you yourself, or any of your colleagues, would like, share, or retweet what you’re about to post. You can’t expect someone to interact with something that you yourself wouldn’t interact with.

Let’s say you’re assured that the content you have is worth posting. The next stage is to start posting! The best place to start

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is to start posting organically. Organically just means that you post it normally from your company account without paying any money. Although you won’t get as much targeting options as you would if you were posting a paid ad, there are still a few ways you can optimise what you post.

Optimise Your Posts The first way you can optimise organic posts on Facebook and Twitter, is to use third-party software that lets you easily post across different channels, and schedule posts. Tools like Hootsuite, and Buffer allow you to choose exactly what, where and when you want your posts to go live. This really improves workflow, as it allows you to spend time coming up with what you want to post for the next few days, weeks or even months, then you don’t have to worry about it until all your posts are posted (you would still need to regularly check your accounts to respond to interactions though).

Many third party tools/Apps even offer you suggestions based on categories

To start, you can start posting about your company. Mention the products and services you offer. Mention any deals or special offers you have to encourage people to go to your website or interact with your brand you choose, and about different trending and relevant articles from the web, that you might find useful to post. That really helps you get out of your bubble and can give you fresh ideas of content to post.

Another cool type of third party tool you might consider are tools that automatically post from sources that you find relevant using RSS feeds. One such tool is Dlvr.It, which allows you to add different sites, and topics, and will post automatically to your social media channels once a new post is found from

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those topics. This is a powerful tool to use, but has disadvantages as it can come off as spammy if used too often, and has the risk of posting something that is not in line with your brand identity, so it should be used sparingly and with caution.

When To Post Something else that should be kept in mind when posting is the time and frequency that you post. This is different for every business and your numbers may vary, but from what I’ve seen from industry best practice for small businesses, typically Facebook is posted to at least 1-2 times a day, and Twitter 2-5 times a day (that can include retweets and mentions). That is just a ballpark figure, and in the end of the day, you’re using Facebook and Twitter to promote your business, so it should only be focused on if it’s beneficial to your business.

For Facebook, since EdgeRank (Facebook’s algorithm) has been updated, it has become much harder to gain visibility when posting organically on your Facebook page. Unless your post goes viral, it is pretty hard to gain a large following from Facebook without paying.

That’s why you need to allocate a certain budget to grow your fan base, and even make your posts appear to all of your fans.

The main ways to grow your audience is by Boosting your posts, Promoting your events, or creating Ads to show on the side of Facebook and the Newsfeed.

Some more advanced tools you can use on Facebook are remarketing lists (retargeting people that visited your site), or targeting people based on emails you gather from your mailing list.

Twitter, unlike Facebook, does not filter out posts based on any algorithm, so in that way it is easier to gain exposure.

You do have less space to work with, with only 140 characters, so you have to be creative and use hashtags, pictures, and links effectively. Don’t be scared to post the same thing multiple times on Twitter for that reason, as often times each time you post, someone else will see it (just don’t be too spammy). Twitter recently opened their own Analytics platform to the public, so you can look there to see what’s working at what time and what’s not (A Hubspot study found that the best time to post for Twitter and Facebook is in the afternoon between 1-4pm on weekdays).

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Jump The Hurdles One of the obstacles of Twitter, is to get people to follow you. The best way to do this is to post content people want to follow, but it is also important to engage with the community. That includes following along and posting on popular hashtags, answering mentions quickly and following new people - an area that is often overlooked.

Following people is something that is unique to Twitter which is not an option on Facebook.

Following people exposes you to them, and often you’ll get a follow-back if they find your content relevant.

Facebook and Twitter can be powerful tools for your business.

The trick is to keep the best practices mentioned here in mind, but also tailor your posting behavior based on what your Analytics data tells you, and what ultimately helps your business grow. l

You can get by with just organic ads, but especially after Facebook’s recent EdgeRank algorithm update, it is nearly impossible for you to gain traction on social media without spending some money. The key is to spend it wisely

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Linking into Business Social media can be a huge contributor to a company’s profile and lead generation, but how efficient are the various different social channels in directly driving leads?

n a recent study of over 5,000 businesses, internet marketing website HubSpot found that traffic from LinkedIn generated the highest visitor-to-lead conversion rate at 2.74%, almost 3 times higher (277%) than both Twitter (0.69%) and Facebook (0.77%).

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What’s The Advantage?

A LinkedIn company page is in a centralised location where millions of LinkedIn members can visit company news, products and services, business opportunities and job openings. You can: ll Tell your company’s story ll Highlight your products and services ll Engage with followers ll Share career opportunities ll Drive word of mouth at scale For the site visitors, the company pages on LinkedIn are a place to: ll Explore companies of interest ll Get the latest company updates and industry news ll Research products and services ll Learn about job opportunities The ‘Products & Services’ tab on your company page showcases what your business has to offer. You can upload images, videos and your company website address to place your offerings in front of a huge business audience and LinkedIn members can view, recommend, or share your products with their network.

For business to consumer business, less content is generally posted to LinkedIn than to other social networks, as posts tend to be marketing-related content. In other words, businessmarketing posts are more likely to be noticed on LinkedIn than on other social media.

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Recruitment Make your company and your job offerings visible on LinkedIn. If the perfect candidate finds you, wonderful; you want your company to appear prominent and impressive to the people you contact once they start looking in to you. Create a profile for your company and encourage all of your employees to create profiles that link to it. Strong profiles pay off as you look attractive to prospective employees.

How to Leverage Your Business' Social Network 1. Post more content that works - Monitor comments, likes, shares, and clicks and be guided by the positive indicators.

If you notice people are specifically really enjoying blog posts, webinars, or something else, keep offering it!

2. Find more opportunities to post relevant calls to action - Sprinkle more lead

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generation opportunities throughout your social media updates and create more ‘teasers’ to encourage organic traffic, interest and response.

Don't take success for granted It's easy to get comfortable when something is going well as there are always opportunities to improve.

Keep testing, analysing your data, and increasing results.

Tips To Find The Best LinkedIn Groups If you're using LinkedIn to make connections, you're missing out. Business owners land clients as a direct result of participation in LinkedIn Groups. Others see their groups as a natural extension of their social media marketing efforts.

LinkedIn groups are informal communities formed around industries, professions, themes, niche topics, etc. If you

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find and join the right groups, it's easy to keep up with news and trends, make connections, ask and answer questions, attract new clients and more. Here's how you find the right Groups for your business advantage: Search Go to the Groups Directory page and enter search terms related to your goal.

Searching broad terms will generate broad results; if you search ‘marketing,’ you will receive more than 41,000 results; by searching ‘social-media marketing’ you will yield around 4,000 results. Think about what you're looking for and use search terms that are as specific as possible.

You can refine your search by using the check boxes on the left-hand side of the page. One approach is to sift search results by your current connections.

For example, you can choose to see only groups that your first or second connections have joined.

Searching is useful, but so is following the lead of people you respect.

Go to any profile page and check out the groups that person belongs to; chances are one or two match your goals. Plus, joining the same Groups increases your chances of connecting with the people you hope to connect with. Realistically, influential people in your industry are members of useful Groups, so why not hang out where they hang out?

A search result lists Groups in descending order according to the number of members. Under each group is a brief description, which is sometimes helpful, but in other cases, the Group has veered away from its description and original purpose.

participate or view discussions. Members only Groups tend to be more focused, but there are plenty of open Groups that stay just as on topic and spam free.

Monitor The Quality Monitor, test and evaluate the quality of the discussions or updates. Are the article or resource references relevant and valuable? Are the discussions interesting? Keep in mind you can always leave if your initial impression turns out to be wrong.

Don’t Self Promote Immediately In the online world, no one likes the person who arrives and takes over a discussion with self-promotion. Watch, listen, and get a feel for how the Group operates. Then gradually start to participate. Start by responding to questions or topics raised by other people.

Get a real feel for the Group, and let the Group get a feel for your views and discussion style, before you start driving discussions.

Be Active You don't need to participate every day, but you should be somewhat regular in order to establish your presence and trust in you. This is especially true if you hope to establish yourself

as an authority in your field; it's hard to spark great discussions and answer questions when you're never there. Take 10-15 minutes every couple of days to respond to questions and comments, and before long you will be in a position to generate your own discussion topics and promote your own company/website.

Sometimes people will invite you to join a group. Sometimes you'll stumble across one and think, ‘why not?’ Before long, you'll belong to dozens of groups, but remember it is impossible an impractical to participate in a meaningful way in more than a few.

Anyone can start a group. If your group becomes popular, you can drive traffic to your website and send free weekly messages to group members, all of whom opted in to receive those messages, which also gives you valuable data for mailing lists.

You should wait until you really understand how groups operate before you establish one of your own, differentiating it from the thousands of similar ones that exist. This is an opportunity for you to use your own unique insights into your industry, demonstrate your understanding of the market and show why you are a credible business with whom to deal. l

If you’re using LinkedIn to make connections, you’re missing out. Business owners land clients as a direct result of participation in LinkedIn Groups. Others see their groups as a natural extension of their social media marketing efforts

Join a Few Groups Pick a few Groups that appear to meet your goals - and seem interesting - then join. You can be a member of up to 50 groups in total, and you can leave a Group at any time, so there is no harm in experimenting to see which Groups meet your objectives.

Read recent discussions and click the ‘Members’ link to find out who else is in the Group. If you find heavy hitters or people you respect, that's a good sign. Keep in mind, some Groups are members only; the Manager of the group must accept you before you can

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Dubai Diamond Exchange (DDE) to Host Second Dubai Diamond Conference at Almas Tower 50 |

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DMCC

ubai which has quickly emerged as the leading global trading hub for diamonds is all set to host the biennial Dubai Diamond Conference 21 - 22 April 2015.

Organised by the Dubai Diamond Exchange (‘DDE’), a DMCC platform, the two-day conference will be held at Almas Tower in Jumeirah Lakes Towers and will bring together international leaders of the diamond industry; ranging from African Ministers to traders, financiers and world-renowned jewellers.

The conference will include delegates and keynote speakers from Africa, Middle East and Asia and involve dedicated panel discussions on business development in Africa, Ethics, Finance and Synthetic Diamonds along the trade route for diamonds. The event will also provide the opportunity to build relationships between companies and governments in producing and consuming countries, further highlighting the pivotal role Dubai plays in the global diamond trade for diamonds.

“2015 will be an interesting year for the global diamond trade and at DMCC we are honoured to host and bring together our valued trading partners from across the globe. The global diamond industry has been going through a historic transformation over the last couple of years with the centre of gravity shifting from West to East,” said Ahmed Bin Sulayem, Executive Chairman, DMCC. Dubai’s strong leadership and vision has enabled the Emirate to quickly transform itself into a key link in the global transport and distribution system. Since its inception in 2002, DMCC has successfully established Dubai as the global gateway for commodities trade by building and enhancing its physical and financial infrastructure, regulatory standards, products and services, including the launch of the DDE and the Dubai Gold and Commodities Exchange (‘DGCX’).

This has positioned Dubai as one of the world’s leading diamond centres. l

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For more information about the conference, call +971 4 433 6719 or visit dmcc.ae.

Dubai Diamond Exchange (DDE) is a DMCC platform and a leading diamond centre based in Almas Tower. From buyers to sellers and service providers - everything the industry requires in terms of infrastructure, with a marketplace available under one roof, in a secure environment at Almas Tower including: DDE, vaulting, boiling, polishing, certification, transport and logistics services and the Kimberley Process Certification Scheme

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DMCC Executive Chairman to encourage the next generation of business leaders or working professionals with management experience, an Executive MBA programme (EMBA) is a great way to polish business skills and gain an edge in Dubai’s ever-increasing, competitive professional environment. Synergy University’s flagship EMBA Programme – Strategy & Leadership is specifically designed to equip executives and senior level managers with the skills required to move their careers to the next level.

Having recently been announced as the Patron of Synergy University’s EMBA Programme – Strategy & Leadership, the DMCC Executive Chairman will contribute as a regular speaker and lecturer on the diverse topics of leadership and strategy.

“Building exceptional strategy and leadership skills are key qualities all professionals should aspire to master at an early stage in their career, as these are crucial to succeed in business. Becoming a Patron of Synergy University’s newly launched EMBA Programme will enable me to share some of the lessons I have learnt in terms of the challenges and opportunities facing the business leaders of tomorrow,” said Ahmed Bin Sulayem, Executive Chairman, DMCC. Under Ahmed Bin Sulayem’s leadership, DMCC has seen rapid growth and accomplished important milestones such as becoming the UAE’s largest and fastest growing Free Zone; receiving the Financial Times fDi of the Year Award for World’s Best Free Zone for SMEs, as well as becoming one of the world’s leading commodity hubs for trade and enterprise. The DMCC Executive Chairman has also been

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personally recognised for his efforts in developing Dubai’s Islamic Finance sector through pioneering products and services, as well as his outstanding contribution to the global jewellery trade and his social and philanthropic work focused on society, culture and heritage.

“At DMCC we believe in empowering and preparing a generation of strategists and leaders, through education and guidance and we look forward to further support Synergy University and its postgraduates through its Flagship Executive MBA Programme – Strategy & Leadership”, Ahmed Bin Sulayem concludes.

The patronage is also part of DMCC’s drive to support its members in contributing to His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai’s recently launched Dubai Plan 2021. The initiative aims to create ‘a city of happy and empowered people,’ and represents Dubai’s dedication to developing educated UAE nationals and residents that are innovative and productive across a variety of fields.

As one of Synergy University’s most prestigious postgraduate programmes, the EMBA Leadership & Strategy course is attaining several international accreditations most notably the Association of MBAs (AMBA, UK). Another unique feature of the EMBA Programme is its monthly modular structure, which allows students to commute to Dubai from neighboring countries – a model that was successfully launched as part of Synergy University’s MBA Women’s Leadership Programme last year. l

Synergy University Dubai Campus is located in the DMCC Free Zone. It is licensed

by Dubai Government’s Knowledge and Human Development Authority (KHDA) and internationally recognised through a diverse array of accreditation bodies. Admissions for the February intake are now open with the first weekend module starting on 26 February 2015

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DMCC

About Synergy University Synergy University is the largest private university across Russia and Eastern Europe and widely recognised as one of Europe’s most innovative institutions, which provides highquality education while applying innovative and practice-oriented teaching techniques. Since 2010, Synergy University has been operating globally with branches set up in Moscow, London and Dubai along with a representation offices in Singapore, China and the United States.

About the Executive MBA – Strategy & Leadership Programme The Executive MBA Programme with a specialisation in Strategy and Leadership has been designed with executives and managers in mind.

It covers all major topics relating to successful organisational leadership and management, and aims to equip professionals with relevant business knowledge and tools. Once the programme is complete, students will be able to increase efficiencies, build stronger teams and introduce best business. The programme is accredited by the Association of MBAs (AMBA, UK), Dubai Government’s Knowledge and Human Development Authority (KHDA) and the Ministry of Higher Education of the Russian Federation.

Programme advantages: •

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The programme is comfortably delivered over a period of one and half years with classes being held in four-day modules once per month. The flexible programme schedule and structure allows students to commute to Dubai from the neighbouring GCC countries.

Students can avail special programmes at Synergy University Dubai, such as Synergy Pilot, Synergy Innovations, and Doing Business with Russia.

Admissions for the February intake are now open with the first weekend module starting on 26 February 2015. http://synergydubai.ae/

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telecom

Expect 500% Growth in Venture Capital Technology Investments he Venture Capital industry in the Middle East and North Africa region is set to grow five-fold in the next three years, according to Dany Farha, CEO of BECO Capital, a regional Venture Capital (VC) firm focused on technology investments in the GCC. Speaking at the Middle East Investment Conference in Kuwait, Dany Farha said that this boom will be propelled by the UAE and Saudi Arabia (who currently occupy the number one and number three spots in smartphone penetration per capita in the world), as well as increased funds under management within the region, and a rise in winning technology start-ups, not to mention the handful of technology companies that are on their way to becoming billion dollar companies in the coming five years.

To support his point, Farha said that the Venture Capital funds raised in the region in 2014 were six times larger than those raised in 2013 (or a 600% increase), with deal flow growing by almost four times (400%) in the same period. He said, “Fresh Venture Capital funds raised in the MENA region last year totaled US$175 million, compared to US$29 million raised in 2013.

The region is gaining momentum and is on the way to experience its own boom in the technology sector in the next 5 years, following on India’s success story.”

In 2009 approximately US$800 million had been invested in Indian VC. Today, this has grown to an astounding US$2.1 billion, attracting investments from the largest international VC investors.

Farha affirmed, “The Middle East and North Africa region is next. When four or five of the current technology winners grow into the US$1 billion tech companies they promise to be, they will attract international VC investors. When this happens, it is going to be a quantum leap for the region.”

In 2013, VC investments per capita in the MENA region stood at US$0.56, almost a third of that of

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India, which at the time was US$1.44. Tech VC activity in the region is still on the rise across all functions, from fund raising and deal flow, to closing transactions. Almost 60% of the companies that BECO saw were revenue-generating with more 20% close to breaking-even.

He added that BECO Capital is targeting investments in the whole of the GCC region, with a special focus on start-ups in Kuwait, Saudi Arabia and the UAE, Egypt, Jordan and Lebanon offering them next stage growth financing as well as a hands-on approach to generate operational improvements and true value enhancements.

BECO Capital’s ‘value creation’ business model has been successfully implemented through postacquisition programmes in portfolio companies. As a result, the firm’s investments have not only continued to prosper, but have also delivered substantial growth to growth. “Portfolio companies achieved a net IRR return of 35% over the last two years and we’ve only just started. MENA is next in line for the global boom in the technology sector,” Farha concluded. l

In 2009 approximately US$800 million had been invested in Indian VC. Today, this has grown to an astounding US$2.1 billion, attracting investments from the largest international VC investors

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telecom

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technology

Customer Relationship Management

As we all know, our customers make our business. They are the ones that we are in business for, and it is they who ultimately provide the profit on which we operate.

our salespeople should know and understand their clients; but do you know what else your clients are interested in that you currently do not provide, or conversely what their plans are for next year so you can forecast further sales? The Account Manager who services them is likely to know, but what would happen to this knowledge if they leave? Without having full notes somewhere, this information is likely to go when they go… and probably to the competitor that they are joining. This therefore means that you could be enabling thousands of dirhams (actual and potential) to effectively walk out of the front door of your company if you do not hold the correct information... So what exactly can you do to stop this from happening?

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The Solution The easiest and most efficient way is via a customer relationship management system (CRM), but these will not work if they are not implemented correctly. You have to ensure that a process is in place, and that this is fully managed with regular checks. The information must be collated, together with updates of every email, phone call etc. For a CRM to work effectively there must be strong administration of the input of information, and therefore training is vital.

Remember that any CRM system is only as good as the information that it contains. We would recommend that anyone who uses the system has goals included within their appraisal to ensure that the company objectives for the system are adequately carried out.

What Is A CRM System?

A CRM system is essentially a management consultant way of talking about getting to know

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the customers better, and having a database to record all information so that this can then be used again in the future to the advantage of the business. Generally, when you think of CRM systems, you are probably thinking about the technology side (which would be correct of course), but Business Link, a UK Government Support Network says that this is just the tip of the iceberg, “It is more of a business philosophy than a technical solution to assist in dealing with customers effectively and efficiently”.

There are a great many CRM systems available on the market, but to make life easier for you, we have highlighted 10 for your consideration.

ACT! (by Swiftpage) ACT! is a contact management software application that helps individuals and small businesses manage their customer relationships, grow sales and manage their working day. With around 3 million users worldwide, ACT! Is now 25 years old and is renowned for it’s ease-of-use and low cost of entry - Around US$3,000 per 5 registrations.

Nimble Pulls contact profiles, email conversations and social listings into the one database. With pipeline capabilities, and a cost of just US$15 per month, it is priced at the SME market.

Business Contact Manager (by Microsoft) The cost of this is free. It is a system designed as a contact database enabling followups and helps with marketing campaigns, like your basic email shots etc. The service is limited but workable, and there are alternative options to consider that you can upgrade to should you find you require more functionality.

At a more advanced level (on which additional

charges may apply) it can organise and track correspondence, events actions related to that company/contact.

Salesforce.com A product where all the information is kept in the cloud, Prices range from US$60 to US$260 (the Entreprise edition being their most popular at US$135) per month per user, with the basic package including Case Management, and all the reporting and analytics you require are at the touch of a button.

ZohoCRM Which Forbes called a ‘Poorman’s Salesforce’. Their Free10 edition (which is their basic package) is available for free for 10 users and integrates with many apps together with Quickbooks and Outlook.

Their free edition however, does not include sales forecasting. Should you wish to include this prices start at US$12 per person, per month thereafter.

SharePoint Database (Microsoft Office Sharepoint 2010) Ken Withee, who wrote part of Sharepoint 2010 Development for Dummies Cheat Sheet says, “SharePoint Foundation is a communication, collaboration, and content-management platform that comes free with the Windows Server operating system.” Sharepoint can be fully integrated into your line of business systems, as well as enabling you to embed Excel documents in a SharePoint Web site.

The cost can be free as the standard package enabling a centralised database, follow ups and emailed marketing campaigns.

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technology

The Account Manager who services clients is likely to know all their information, but what would happen to this knowledge if they leave?

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Insightly They prime themselves on being the number one choice for SMEs and boast that they have over 65,000 people using their free/low cost plans. Their free service enables users to have 2,500 records and 200 MB of storage with 3 users, whilst the Standard service is between US$7 and US$9 per month, with additional services.

SageCRM Sage CRM current currently helps over 15,000 small and medium businesses to become more productive, effective and profitable. Their basic package enables sales and forecasting, as well as everything else you would expect from a CRM tool. Prices start at US$25 per user per month.

Goldmine The cost is around US$3,000 for 5 registrations and is aimed at the SME

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market. With more than 1 million users, it replicates and syncs with Outlook, and it can be built to your specification so that you need never touch paper again (apart from to scan letters/documents you may have received).

Goldmine can be built so you can see each and every stage of the prospects growth and development, as well as linking all emails and correspondence, reports and anything else that you need associated with a file to them.

Goldmine also enables you as a company to set your own parameters for measurements for accurate management reports.

You could be enabling thousands of dirhams (actual and potential) to effectively walk out of the front door of your company if you do not hold the correct information... So what exactly can you do to stop this from happening?

SugarCRM With a cost of US$40 to US$150 per month per user, or the option to buy it outright, the system has grown in popularity so now there are more than 1.5 million individuals in over 120 countries using the system. To accommodate this, the system has been translated into 26 different languages.

Above all however, the system is only as good as the information that it contains. It is the preparation and roll out of the system are what will make this a success or not. l

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technology

Businesses Under Attack By: Cherif Sleiman, General Manager, Middle East at Infoblox

The Domain Name System (DNS) is a foundational Internet technology that is used in every non-trivial Internet Provider (IP) based transaction and which, if it’s not working properly, can bring the web to a standstill, corrupt your website and possibly your reputation. ince its invention over 30 years ago, DNS has been continually evolving to become the core component of the Internet today. Unfortunately this has made it one of the most attractive targets for hackers and malware criminals.

In its 2014 Annual Security Report, Cisco found that every single corporate network examined by its threat intelligence experts exhibited evidence of having been compromised or misused. All of the networks had DNS lookups which related to websites that hosted malware, another 96 percent showed traffic to hijacked servers, and a further 92 percent showed traffic to sites that had no content whatsoever; a typical sign of malware hosting.

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In a separate report on IT infrastructure security, the Worldwide Infrastructure Security Report, Volume IX by Arbor Networks, revealed that over a third of companies surveyed had experienced a Distributed Denial of Service (DDoS) attack on their DNS servers in 2013 – up from a quarter in the previous year. Despite this however, more than a quarter of businesses reported that no formal responsibility was taken for DNS security within the company.

This lack of attention could lead to DNS being perceived by cybercriminals as something of a soft target, arguably one of the key reasons for these types of attacks becoming more prevalent. It’s clear from these two

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reports alone that many businesses still incorrectly believe that their company’s DNS is secure - whereas the hard truth is that organisations need to be paying much more attention to DNS security!

The Growth In Threats Because DNS infrastructure provides core Internet services, when a DNS server goes down, so too do the Internet domains that it serves.

This creates the potential for largescale disruption. Cyber criminals are becoming increasingly aware of the attack opportunities made possible by DNS vulnerabilities, and are wasting little time in developing forms of malware that leverage DNS as a channel to communicate with bot masters and carry out malicious activity.

While malware threats continue to grow in volume and sophistication, the burgeoning Bring Your Own Device (BYOD) culture is providing easier access for them to assault the internet and subsequently your own website, by using the various smartphones and tablets owned by company employees that are networked to your system. Having made its way inside the firewall, malware from these devices can go undetected by legacy security approaches as it busily exploits DNS as a pathway to connect to a malicious destination or botnet controller. A new generation of botnets and Advanced Persistent Threats (APTs) are increasingly exploiting DNS to recruit and control webs of infected endpoints, conceal criminal activity, or launch sophisticated network attacks.

Types Of Attacks Disruption: When taken together, all of the factors above combine to create a perfect storm.

This in turn makes DNS attacks an extremely attractive medium for cyber criminals. These attacks can be grouped into two main categories, the first of which is made up of those offensives focused on disrupting DNS services: ll Cache poisoning: In this attack, the perpetrator will send spoofed DNS responses to a DNS resolver, which will then be stored in the DNS cache for the lifetime (Time to Live, or

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“All of the networks had DNS lookups which related to websites that hosted malware, another 96 percent showed traffic to hijacked servers, and a further 92 percent showed traffic to sites that had no content whatsoever; a typical sign of malware hosting” Cisco, 2014 Annual Security Report

ll

TTL) set. A user whose computer has referenced the poisoned DNS server would then be tricked into accepting content coming from a non-authentic server and would unknowingly download malicious content.

DNS protocol attacks: Here the perpetrator will send malformed DNS queries or responses to the target DNS server and allow protocol implementation bugs in the server’s software to be exploited. Examples of such attacks include malformed packets, code insertion, buffer overflows, memory corruption, NULL pointer de-reference or the exploitation of specific vulnerabilities, and attacks such as these can result in a denial of service, cache poisoning, or compromise of the target server.

DNS redirection (MITM) attacks: DNS queries tend to be carried over the User Datagram Protocol (UDP). This is a stateless protocol which can often be susceptible to man-in-themiddle (MITM) attacks, examples of which include DNS changer, DNS replay, or illegitimate redirection attacks. Attacks such as these are primarily carried out to fulfill motives such as hacktivism, phishing, website defacement or data stealing.

DNS fast fluxing: Fast fluxing refers to the rapid changing, swapping in and out of IP addresses with extremely high frequency through changing DNS records with short-lived TTLs. Domain fluxing refers to the constant changing and allocation of multiple fully-qualified-domain-names (FQDNs) to a single IP address of the command & control (C&C) server. Commonly referred to as Domain Generation Algorithm (DGA) bots, there has been a recent rise in the type of bots that use dynamic algorithms to generate FQDNs every day, as the bot agent attempts to locate the C&C infrastructure.

DoS and DDoS attacks: The size, velocity and complexity of these attacks have grown significantly over the past couple of years peaking at between 300Gbps and 400 Gbps.

Exploitation: There is also a form of attack, which includes botnets that use DNS as a vector for business exploitation. Other examples of this type of attack include: ll DNS tunneling: The name of this attack refers to the use of DNS as a covert channel to bypass traditional defense mechanisms. Outbound and inbound data being communicated will be encoded into small chunks and fitted into DNS queries and DNS responses respectively.

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DNS is a very reliable yet relatively stealthy communication channel, and it’s this reliability and stealth that makes DNS tunneling such an attractive method to operators of malware. Where other communications fail, the malware that lands on a victim’s host can contact its operator (C&C) and pass stolen data undetected, or fetch commands to be performed on the compromised host Domain phishing: This attack is an attempt to phish a legitimate website, for example a bank, to one controlled by hackers. Here, they will illegitimately acquire sensitive information such as usernames, passwords, PINs or credit card details. Once this sensitive information has been gathered, the real attack can then be performed.

Advanced Persistent Threats (APTs): APTs refer to a form of attack whereby someone gains unauthorised network access, and remains undetected for long periods. As their name suggests, APTs are advanced malware, persistent in their nature, and which are funded to accomplish the specific goal for which they have been designed. Examples of APTs include Conifer A/B/C, Torpig, Kraken or TDSS/TLD4 malware – all of which leverage DNS to stealthily communicate with a remote C&C server in order to gather additional malware packages and instructions, and carry out their attacks.

Defence solutions It’s clear then that, with such a wide variety of possible DNS attack vectors - those above being only a sample - no single technology alone can be effective in defending against them all. The comprehensive protection of an organisation’s DNS infrastructure and services requires Middle East companies to have a multi-faceted security strategy that employs a layered defense using some or all of the following solutions: ll DNS Firewalls: Inline devices that provide real-time threat intelligence, anomaly detection and protection against malicious domains ll DNSSEC: DNS Security Extensions digitally sign the DNS records to ensure that no poisoning of these records can happen from what appear to be trusted sources ll DOS/DDOS Protection Systems: These can detect advanced DDoS attacks and take steps necessary to protect against them

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All of these factors combine to create a perfect storm. This in turn makes DNS attacks an extremely attractive medium for cyber criminals

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Data Leakage Prevention (DLP) Monitoring Systems: These will detect if any data leakage is taking place by using DNS, among other protocols Dedicated APT-aware Analytics Systems: By employing machine learning along with other behavioural techniques, these systems detect APT malware that use DNS to communicate with C&C servers

“Over a third of companies surveyed had experienced a Distributed Denial of Service (DDoS) attack on their DNS servers in 2013 – up from a quarter in the previous year” Arbor Networks, Worldwide Infrastructure Security Report, Volume IX

Conclusion DNS is rapidly becoming a highly attractive means of evading existing defense mechanisms, whilst exploiting any attack vectors for those attackers and malware authors whose primary motive is cyber war, industrial espionage, hacktivism, political gain or protest, theft of data, distribution of spam, or to cause maximum disruption by carrying out a coordinated DDoS attack.

There appears to be a compelling number of reasons as to why businesses should make their DNS security a high priority, but it’s clear that DNS servers are still often neglected, leaving organizations open to attacks.

We have seen a meteoric rise in the frequency, volume and sophistication of DNS–based attacks over the last couple of years, which suggests existing intrusion detection and prevention systems, as well as the next-generation firewalls, may no longer be a sufficient means of defense in themselves.

It’s evident therefore that businesses need to consider a robust and multipronged defense strategy as a means of combatting these modern threats. Hackers will inevitably continue to try to attack a business’s infrastructure, so it’s important to consider how this will be managed once an attack takes place or better still, how to prevent it happening in the first place.

Organisations in the Middle East need to ensure that their infrastructure is protected. They need to encourage effective interaction with third parties such as registrars in order to ensure that they do not become the next victim. l

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Cloud Computing For SMEs in the UAE As you are aware ‘speed is the name of the game’ in today’s business scenario. Gulf Infotech keeps Businesses up to speed with the latest IT Solutions. Cloud services are based on the collective learning and input of customers and industries: once it is implemented, there are no additional cost for new feature update. Updates in the Cloud are ongoing and developing so fast, one can barely keep up, with constant updates and new versions, Cloud users are automatically updated to the latest version.

Here are 3 ways that SMEs already effectively use the cloud: 1. Increase Business Productivity: Increases collaboration by allowing all employees wherever they are to sync and work on documents and shared apps simultaneously, and follow colleagues as well as records to receive critical updates in real time. After migrating to the Cloud your IT department requires less time in on premise maintenance and support and has more time to work on other more advancing IT projects like applications, internal staff concerns and more.

Testimonial :

“At Gulf Infotech the quality of their support team is excellent, they deliver with accuracy and agility” Chandra Shekhar Jajware, Khimji Ramdas

2. Accelerate an easy adoption: Cloud has the potential to accelerate the time-to-market procedure due to the fact that once the purchase decision is made, the business can effectively start deploying the service to employees immediately. The capital expenditure comes down drastically, because it is pay as you go. The Cloud delivers reduced infrastructure and on-going support costs. There are no new servers to buy and no software to install. Most businesses will do a controlled rollout of the service, and that too is more easily managed from the Cloud.

3. Lower cost of Ownership: Decrease the amount of direct and indirect costs that may be incurred unnecessarily.

Eliminate the on-premise costs of real estate space, onpremise data storage systems and even your outsourced IT support. It is a simple migration and can be managed by your current team. Another adoption benefit can be seen as the business grows or contracts. When another site comes online, the IT department merely needs to address the network and connectivity, allowing for ease of scalability.

These days, in a hyper-competitive global economy, the advantage goes to organizations that are leveraging the latest technology resources. To get there, they need the leadership and guidance of their CIOs, CTOs and other technology leaders. You don’t want these executives’ wasting time while overseeing maintenance of in-house IT systems — in fact, statistics regularly show that up to 80% of IT budgets are tied up in routine maintenance.

Cloud frees up IT executives to think and act strategically.

IT leaders provide the insights needed to select the right technology resources for the business.

Gulf Infotech is partnered with AWS (Amazon Web Services), Google Apps and Microsoft.

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Cloud Solutions = Business productivity’ we completely believe and recommend the same. It is worth exploring cloud solutions

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property

One JLT: Dubai’s New Centre For Commercial Growth ince 2002, DMCC has been stimulating trade in Dubai, opening doors for businesses and individuals to thrive. DMCC has become the largest and fastest growing Free Zone in the region, and we’re continuing to evolve to meet the needs of this dynamic Emirate. That’s why we’ve designed One JLT - your new address at the heart of global business.

Occupying a corner plot overlooking JLT Park and within arm’s reach of prime residential and cultural opportunities, One JLT will provide an ideal setting for regional businesses and large corporates seeking new headquarters as early as October 2015.

Large, flexible floor plates, professional and sustainable design, and a wealth of upmarket amenities are only a few of the features that distinguish the development as Dubai’s new centre for commercial growth.

“The growing demand of fast growing SMEs and large corporates seeking to house their operations in an efficient, single-owner, commercial space is what prompted us to conceptualise One JLT. One JLT will set the standard for efficiency, particularly when it comes to the use

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of space,” said Krysta Fox, Director of Free Zone, DMCC. What distinguishes the development from others is that it offers highly efficient, columnfree floor plates, with each floor providing up to 2,000 square metres of leasable area. This gives tenants the opportunity to create personalised office environments to suit their business needs.

Being LEED gold certified, another unique feature of One JLT is that the building is designed with sustainability in mind. The tower’s “glass box” style integrates innovative technologies for energy efficiency and water conservation using green, low carbon and recycled building materials from the Middle East’s sustainable supply chain.

Strategically located in the heart of new Dubai, the property is in close proximity to air and sea ports and is just one hour from Abu Dhabi. One JLT holds a prime position within the DMCC Free Zone and is accessible by two metro stations while having direct access to Sheikh Zayed Road.

This Grade A office space is now available for lease, prioritised for tenants leasing full floors. To learn more call +971 4 367 8397 or visit dmcc.ae.

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insurance

Dubai Trade and AXA Partnership

As part of its strategy to boost its online services in line with Dubai’s Smart Government initiative, AXA Insurance Gulf – one of the largest and the leading non-life international insurers in the region – has signed an agreement with Dubai Trade, to join its Tradeshield e-insurance platform he agreement offers customers of Dubai Trade access to AXA’s comprehensive portfolio of marine and cargo insurance solutions online through the Tradeshield platform. With this, customers will be able to complete the end-to-end process of purchasing cargo insurance online through the dedicated website www.tradeshield.ae.

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The agreement was signed between Dubai Trade CEO Eng. Mahmood Al Bastaki and John O’Brien, Chief Officer of AXA Corporate Solutions, Marine, in the presence of senior officials from the government and AXA Insurance Gulf.

Welcoming AXA to the platform Eng. Mahmood Al Bastaki said, “At Dubai Trade, we are committed to the growth of business and the economy through our diverse

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online products, seamless trade services and innovative processes. We are thrilled that AXA Insurance, a world-leader in insurance services, has joined our platform, which will give Dubai Trade customers a wide array of options and choices.”

Al Bastaki explained the innovation and solutions, “For the full cycle of trade to happen, insurance plays a large part. We want to eventually eliminate the paperwork side of things. We want the documents and the data to be transported to all banks to stop the insurance paperwork.

Today we are focusing on Marine cargo, but we will include all types of cargo. The next feature that we are already building will enable us to host other types of insurance, such as warehouse and liability insurance. This is big for this type of business.”

Jérôme Droesch, CEO of AXA Insurance Gulf said, “We are happy to join hands with Dubai Trade and be part of the Tradeshield platform for marine and cargo insurance services.

We have always taken pride in our wide product offering and services, and we are confident that the new online initiative will go a long way in effectively catering to all insurance needs of Dubai Trade customers.”

Dubai Trade are planning on ensuring that the platform will demystify insurance. “We have seen the education of insurance is being asked about more and more,” said Al Bastaki. He explained that it was the traders themselves that led to this idea as they often don’t understand the products.

“People must understand more and more the insurance clauses – for some people, insurance is like rocket science, especially with the small print wordings that some companies use. We want to simplify the words used and make them digestible for a normal person.”

Dubai Trade confirmed that following the review of options available, the best way to introduce this was through an IT platform so

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We are happy to join hands with Dubai Trade and be part of the Tradeshield platform for marine and cargo insurance services. We have always taken pride in our wide product offering and services, and we are confident that the new online initiative will go a long way in effectively catering to all insurance needs of Dubai Trade customers” Jérôme Droesch, CEO, AXA Insurance Gulf

At Dubai Trade, we are committed to the growth of business and the economy through our diverse online products, seamless trade services and innovative processes. We are thrilled that AXA Insurance, a world-leader in insurance services, has joined our platform, which will give Dubai Trade customers a wide array of options and choices” Eng. Mahmood Al Bastaki, CEO, Dubai Trade

that globally people can use it. Al Bastaki was adamant that this should not be complicated for the end users, “This will be a game changer.

Everything is available on line, transparent and clear. We are not the experts in the business.

We have learnt a lot about insurance, but the business changing ideas come from the requests of traders.”

Initially, the platform will start with single shipments, but it is predicted that soon after the user will be able to input multiple shipments.

As one of the leading names in the insurance sector, AXA has launched a wide array of online services to provide better coverage and ease of access to consumers in the region. For a company, which offers quotes in a matter of seconds, AXA offers multi-access options for customers to sign up for insurance solutions such as travel insurance, sale and renewal of motor policies, home insurance, fully automated marine cargo insurance, online medical provider system among others. l

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travel & hospitality

Paying By The Gram

When we heard about the concept of Gramo we were intrigued… All organic and you pay only 8aed per 100 grams of food for their lunchtime menu – Surely that can’t be right? ituated on the ground floor of Cluster F in JLT, the restaurant is large, with a New York loft feel to it and there were quite a few business people sitting enjoying their lunch already by the time that we arrived. The buffet was laid out in front of the open kitchen next to the bar. I always find solace with an open kitchen – You can see how clean a restaurant really is when you can see the people working and where they work.

The concept itself is rather confusing, but basically you will pay for the weight of the food that is on your plate, and no; the weight of the plate is not included in the calculation.

Admittedly, I started out with some trepidation, but not being shy to come forward (I ended up eating 605 grams of food this lunch time), I began to pile my plate - high. There was the choice of a soup, which I declined, although my friend really enjoyed his minestrone soup. I however, headed straight for the salads starter. With an immense array of salads, I chose the mixed seafood salad, mozzarella and tomato (Mozzarella Caprese) and the Parmesan cheese eggplant (Parmigiana di Melanzane) and finally a potato salad, before taking a seat outside overlooking the lake and Almas Tower.

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All the salads were delicious but the Parmigiana di Melanzane was superb. The Parmesan cheese gave it a salty bite that was offset aganinst the sweetness of the tomato sauce, whilst the eggplant had not been overcooked.

On going back for the main course I was impressed with the selection, but stuck to eating Fettuccini al Salmone (pasta and salmon with a creamy sauce), Petto di Pollo (chicken with sun dried tomatoes and mozzarella), Steak and creamy potatoes, as well as taking a slice of pizza. The fettuccini was delicious although slightly overcooked because of being left to continue cooking its sauce, whilst it was sat over the heat on the buffet table. That said, this is to be expected with pasta when it is included in a buffet so it certainly wasn’t a disappointment.

The beef was so delicious and tender it fell off of the fork and was complimented very well with the potatoes.

By this point though, already having consumed 605 grams of food and feeling very glutinous, there was no room left for the delicious looking deserts that were available. Luckily this gives me the perfect excuse to return! l

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DATA PROTECTION

I am sure you have all heard about this, as globally governments are laying down laws to ensure that companies who retain any information that can directly identify an individual, keep the data private and not distribute it without the prior authorisation of the person concerned. This data relates to name, address, date of birth, bank details, medical records etc. and anything else that would correctly identify a person… but why is this important, and more importantly why should companies in the UAE seek to protect data? ue to the reliance of email and the internet in business, it is now more important than ever before to ensure a company has measures in place that will stop important information from getting into someone else’s hands. This shouldn’t just refer to an individual’s right to protection; if you think about it with your business hat on there are many details of your business that you would not want in the public domain.

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Business Drivers There are three drivers as to why business should take this seriously.

1. Fear of financial loss - Your data is an important corporate asset. As with all assets this should be

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safeguarded at all times. The loss of this information could be disastrous for businesses as it may lead to financial losses, such as loss of sales, fines, or monetary judgments.

There are also indirect losses that should be considered; for instance, a drop of investor/customer confidence, with customers fleeing to competitors. Alternatively, data that has been altered could have horrific ramifications for business as the effects of this data may not be felt until much later. Sadly this means less can be done about it therefore magnifying the negative results.

A new regulatory environment - Globally, governments have started to impose new regulations on electronic communications and stored data, with

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companies facing dire consequences for noncompliance. Regulations differ from country to country, but if you trade or have offices internationally do they affect you?

Productivity - Generally forgotten but an important driving factor. The loss and/ or altering of this data will result in lost productivity, and therefore will affect your bottom line as staff are taken away from their normal work, having to put things right. This could affect all areas of your business dependent on what information was lost or altered. For example, IT are taken away from keeping your systems up and running correctly to determine how/ who/why, which could leave employees idle or able to work at a reduced capacity only. If this was a financial matter your accounts department will have to revisit work they have already done to ensure that this put right. If it is a customer service issue, staff will be taken away from their roles to deal with customer complaints, rather than focusing on proving a service/sales to more clients.

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Regulations differ from country to country, but if you trade or have offices internationally do they affect you?

The DIFC actually take this one step further. They see that businesses, international banking, and financial services organisations are increasingly exchanging personal data electronically all over the world, and state on their website, “The result of the processing and mishandling – voluntary or involuntary - of personal data can have significant consequences, including credit card and identity theft. It is crucial that individuals’ right to privacy is protected by establishing effective data protection laws and enforcing legal safeguards to secure and protect personal data and its processing.

Today governments and regulators world-wide, with the EU countries in the fore-front, are increasingly calling for measures to protect privacy and

the adoption of data protection regimes to enforce such safeguards.”

If this isn’t a good enough reason, the DIFC have implemented their own law, “The Office of the Data Protection Commissioner was established under the Data Protection Law of 2007 as amended by Data Protection Law Amendment Law, DIFC Law No. 5 of 2012 (Data Protection Law) as a neutral and objective body to ensure the protection of all personal information in the DIFC. The Data Protection Law and Data Protection Regulations Consolidated Version No. 2, in force on 23.12.2012 (Data Protection Regulations) (collectively the “legislation”) create a legal and procedural framework which ensure that all personal data in the DIFC is treated fairly, lawfully and securely when it is stored, processed, used, disseminated or disclosed.”

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In order for companies to comply with the principle and behaviours of data protection you have to ensure that all data is held securely in password protected files on servers with strong firewalls, as well as a corporate policy dictating who can access the information, what information would be made available and how it can be accessed

“The Data Protection Law encompasses and applies to regulated entities, including all banks and financial institutions, as well as non-regulated organisations that may process personal data to carry out their business activities.”

What Does This Achieve?

To think of the benefits you have to consider how you would want your confidential information to be retained.

The DIFC explain this as: ll Protecting and raising awareness of individuals’ rights to privacy and confidentiality ll Promoting openness, transparency and disclosure, in the use of personal information and helping individuals to understand how their personal information is being processed by data controllers l l Allowing individuals to request the correction of individual and/or personal information being processed ll Registration will ensure that personal data is processed in

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accordance with the fundamental respect for the right to privacy and confidentiality without hindering the flow of data l l Requiring companies (i.e. data controllers) to be transparent and open about their data processing activities as well as take necessary measures to correct the gaps in their security structures, from a business, technical and a legal standpoint l l One of the critical areas where data protection is relevant is business processing operations and outsourcing. Establishing safeguards will help to facilitate activities related to back office functions that are essential for the operation of banks and financial institutions.

Solutions There are many differing ranges of software solutions available to enable you to send important documents securely, for example email encryption software enables businesses to ‘secure’ their email

so that it doesn’t reach the wrong person. Some email encryption software enables businesses to recall messages that were sent accidentally and some software even allows you to revoke access to the email in question. For businesses that regularly send large files, such as confidential business proposals or contracts, then there is specialist file encryption software available which ensures that your information will reach the intended recipient via the most secure method possible.

It is not just sending files electronically that is important and covered under the ideology of data protection. In order for companies to comply with the principle and behaviours of data protection you have to ensure that all data is held securely in password protected files on servers with strong firewalls, as well as a corporate policy dictating who can access the information, what information would be made available and how it can be accessed.

At the end of the day failing to act on data protection could damage existing business, or enable your competitors to target your clients, or worse, ruin your reputation. Either way, oversight can prove very costly. Alternatively, think about what a fantastic USP you would have if you can confirm to clients, staff and other personnel that you adhere to the principles set in line with UK’s Data Protection Act 1998. l

What is Personal Data?

For the purposes of UK’s Data Protection Act 1998 and DIFC’s own law the data that is covered under the DPA relates specifically to what is considered internationally to be sensitive personal data.

This include includes any information relating to: ll An individual’s name ll Age ll Home address ll Race ll Sexual orientation ll Income ll Health ll Blood type ll Marital status ll Education ll Employment information

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Fighting Fit for Business With the New Year a distant memory, how many of you made resolutions to keep fit and didn’t keep up with it? I know I did, but have you considered the impact that a healthier body could have on your business?

We speak to Roy Gumbs, the former British professional middle/super middle/light heavy/ cruiserweight boxer from the 70’s to the 90’s who, among his many accolades, won the British and Commonwealth middleweight titles, to find out why you should fight for your business.

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eing a bit of a coach potato myself, I called up one of Gumbs client’s, James Parker the Client Acquisition Supervisor for Holborn Asset Managements who convinced me to give boxing training a go, “In business, you have to think regardless of how tired and fatigued you are. Similarly In boxing - you become fatigued and you still have to think and plan. Training has helped me cope with this. Also, I am much less stressed now both at work and at home, because I work out all my aggression in the ring.”

Gumbs extols his virtues differently, “I teach people to feel good about themselves. That is due to the training. I

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I say to people that I have been knocked down, but I have got up and won the fight. That is a life lesson, to be knocked down and get up and win the fight.

Winner’s never quit and quitters never win. That is a life lesson for me” roy gumbs, the former British professional middle/super middle/light heavy/cruiserweight boxer from the 70’s to the 90’s

Boxing Benefits zz

Increase mental agility – Studies have shown that the training techniques adopted by boxers, like using punch bags and sparring, lead to superior decision making skills

spend more time with business people and executives then I do boxers. I teach them the three P’s. Be Positive, Persistent and Passionate. When you are in business you have to be Positive, Persistent and Passionate, you have that foundation already. Getting fit by boxing reinforces this and other business values.” For someone who has given up their life to follow dreams he should know.

Tell us about how you came to be a boxer…

I drifted into boxing. A friend of mine thought I would be a good candidate to be a contender and I liked it. I always wanted to be someone and I was always searching. I was in the Territorial Army… I kept searching until I found my niche.

I found boxing in the mid 70’s. People from England were travelling to Iraq to weld pipelines, and coming back to England millionaires in nine months. At the time, there were government-training centres scattered around where you could get a late start in a trade, like welding, carpentry, electrician etc. I went into the labour exchange but you had to do an exam so I thought, ‘nah this isn’t for me’.

I said to my wife, “I really tried. I went to the government training centre to learn welding, but it had fractions on it and I thought, I couldn’t do it.” She offered to show me what to do and eventually I took the exam, passed it and learned welding. By the time I got to the gym from Enfield though, I had missed all the good boxers as they all train early in the day. And it was affecting my form, so two weeks before I graduated, I said to the instructor, “I don’t want to do this anymore. I want to be a boxer.” The instructor was shocked and said to me, “You’re silly son. It’s always best to have something behind you.” I said, ‘Look, Muhammad Ali never had something behind him!”

It is amazing that you were really focused and always knew that you what you wanted to do and wanted to be… How has that helped you outside boxing?

To excel at anything you have to be determined. That determination is what leads you to succeed. Losing wasn’t/isn’t an option.

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So how difficult was it for you to get back up in the ring and how has this impacted your life now?

It has helped me tremendously. It is not every deal that you enter into that you succeed at. I say to people that I have been knocked down, but I have got up and won the fight. That is a life lesson, to be knocked down and get up and win the fight. Winner’s never quit and quitters never win. That is a life lesson for me. You go for a job and you get knocked down for a job, but you walk away from that office like a champion.

What lessons will boxing teach business leaders?

There are many lessons that can be learnt from boxing but the main ones that immediately spring to mind are: 1. You must take time for yourself and to learn to feel good about yourself away from the office.

2. Doing battle in the boardroom can bring on fear. Face your fear. Fear is the only thing that stops us from really making it. The only thing to be afraid of is fear.

3. Increase your confidence and be more comfortable in all environments.

4. Eating and drinking sensibly will help your concentration and improve productivity.

Why is learning to box as a means of getting fit so perfect for Dubai?

Dubai is a business city as well as a party city. People here work hard and play hard. That is the secret. Go out and enjoy yourself, but learn where to draw the line; many people haven’t mastered this. I would go out knowing that I would have to train the next day so I would limit how I party. You transfer that to business.

Self Control.

Boxing is the ultimate in self-control. I teach the same principles that you need in business. You need to have a sound body and mind for boxing and business. They are the same principals. l

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Improves hand and eye co-ordination on both sides of their body

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Increases stamina – Research from the Indian Journal of Medicine states increases in stamina in the heart and lungs, in turn increases concentration

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Raises core strength – Core strength reduces the risk of back pain and improves posture

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Strengthen muscles – Make a person more agile

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Releases aggression – Your aggression is calmed and channeled when in the ring. Great for when a problem a work arises!

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Increase your discipline – Boxing is very disciplined and the lessons you learn are naturally transferred into your work life as well

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Focus energy and concentration Training stimulates your mind and boosts your self-belief, perfect for when you are second-guessing yourself!

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Lose unwanted weight

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Food for Thought

We often just accept that part of our work automatically involves stress, worry, exhaustion and a frazzled head at the end of the week, and we then require the weekend to ‘recharge our batteries’. Too few of us however realise that food is our fuel and it can either work for us or against us. ith the right nutrition you can be more resistant to stress, more energetic, optimistic, hard working, confident, motivated and effective, allowing you to make fewer errors of judgment or absent-minded mistakes. You’ll be able to address problems in a more effective manner because you can think more clearly and aren’t as stressed, mentally taxed or fed up. Net result? You’ll be happier at work!

Although establishing the right nutrition plan is a very individual process, the following three points should form the foundation of any nutritional plan of action you make:

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Stress consumes your vitamins!

In a state of illness, the body uses up more nutrients than it does in a healthy, relaxed state.

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Nutrients from food, vitamin B complex, vitamin C and all minerals are stripped during times of stress. These are called ‘water-soluble’ vitamins, which means that they are not stored in the body and must be replaced every day. These nutrients are responsible for energy production, healthy function and relaxation, without which you become even more stressed, leading you into a vicious cycle.

So in order to break this stress pattern, your body requires a regular daily intake of soluble vitamins, which you can get from the following food sources: ll Cereal grains ll Meat ll Poultry ll Eggs ll Fish

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ll ll ll

Milk Legumes (lentils, beans etc.)

Fresh vegetables

If you can acknowledge the simple fact that stress is recognised as a state of illness, and look after yourself accordingly, you will give yourself a major advantage over your stressed-out, nutrient-depleted business competitors!

Effective Digestion Leads To An Effective Mind If your digestion is disrupted, so too is everything else — concentration, drive, sound reason, ingenuity and any other quality needed for work performance.

Most people can feel when their digestion is working properly, and when it is not, we can sometimes be painfully aware of that too. So, the action you can take right now is to avoid packaged food that is highly processed, full of chemicals and artificial additives.

Process foods are harder to digest than fresh foods and when you consume them, blood is sent to the digestive organs rather than to the brain, leaving you more lethargic and dim-witted than you are supposed to be at work!

Ineffective digestion also means you will not be able to assimilate as many nutrients that your brain needs for optimal function. Probiotic-rich foods are paramount for digestion since they replenish the gut of good bacteria that help break down your food.

The adage is that ‘you are what you eat’, so it makes sense to be aware of the relationship between the foods you eat and the effect they have on how you feel.

Support Your Workload Just like people with different biological make-ups require different nutrition, different jobs require different food choices for peak performance.

For example, an analyst who writes reports all day requires foods that foster introspection and stamina, while a sales rep may require foods that foster charisma and liveliness. Take a look at the following foods that improve your capacity to accomplish your goals and responsibilities, while helping to diminish your stress: Vegetables All vegetables, especially the green variety helps to regulate and

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enhance our entire bodily system. They are a treasure trove of the vitamins and minerals that are depleted during times of stress and need daily replenishing.

Fats Fats are important; especially Omega 3, 6 and 9. These are called ‘essential fatty acids,’ and must be supplied by your diet as the body cannot manufacture them.

These are absolutely necessary for strong brain function and accelerated mental performance. Sources include: Omega 3 - Plant foods such as green leafy vegetables (broccoli, spinach etc.) flax seeds, walnuts, soya beans and tofu.

Oily fish; snapper, halibut, mackerel, sardines and herring.

Omega 6 - Oils such as sunflower, rapeseed, corn and wheatgerm oils.

Omega 9 - Foods such as avocados, peanuts, almonds, pecans, pistachios and macadamia nuts. Oils such as extra virgin olive oil, olives, almond oil, coconut and sesame oil.

High quality saturated fats can be greatly beneficial, but in excess may make you feel mentally and physically sluggish.

Combining fats with spices, herbs and acidic foods like lemon or vinegar help to dissolve and digest the fat. An easy example of how to do this is to have a salad with a dressing made from olive oil and lemon juice.

High-quality protein, especially fish, can help with focus, concentration, energy and heightened motivation. In

excess however, protein is associated with compulsiveness and aggression.

Complex Carbohydrates Complex carbohydrates are also known as starchy foods and can help reduce anxiety and promote peace of mind. Examples of complex carbohydrates include: ll Pasta ll Rice ll Potatoes and root vegitables ll Breads ll Cereals If a person cannot focus because they are unable calm down, then whole grains may be more beneficial than protein for concentration.

Stimulants Coffee, sugar, spicy foods, tobacco and other stimulants gear you up for intense cognitive and physical activity.

They stimulate blood flow to the brain and invite alertness, but only temporarily.

Several hours later, you may have to pay the price with a miserable mood and anxiety that is a symptom of withdrawal.

The great thing about consuming a well-balanced and healthy diet, with a variety of vegetables, along with optimising your digestion, is that it gives the body what it needs to regulate and balance itself. This in turn will help sharp brain function and provide both the energy and relaxation you need for peak performance at work. l

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Lessons To Learn From Others

Every day, business leaders globally are learning different ways to conduct their business. They see changes that their competitors are making, and may implement something similar. However, for every businessman who makes these changes, there are several that don’t. Sitting doing nothing in business is not an option as your business stagnates and will eventually die. ith the graveyard full of businesses that have not taken action, you have to ask, are people just not spotting the potential? Are they afraid of failure? What lessons can you learn from others?

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Preparation Is Key This is a true story. It concerned Guy Goma, a business graduate from the Congo, who attended the BBC building in West London for an interview for an IT job. At the same time, the BBC News 24 TV channel was expecting a Guy Kewney, Editor of the website Newswireless.net, for a live studio interview about the Apple court case judgment where

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surviving Beatles McCartney and Starr, lost their case against Apple Computers, where they sought to prevent the Apple name being used in relation to iTunes music downloads.

This was a failure that was entirely the BBC’s fault. The BBC News 24 staff took the wrong ‘Guy’ who, being an unassuming and extremely polite appeared to have assumed that he was being led for his interview to join the IT team.

Whilst there is no doubt that he must have thought it odd to have been offered make-up (which it is reported he declined), he was introduced on live TV to viewers as Guy Kewney, Editor of the technology website ‘Newswireless’. Only to be questioned presenter Karen Bowerman about the Apple judgment, and its implications for Internet music downloading.

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This whole video is available for viewing on YouTube under, “BBC Interviews Wrong Guy.” He actually does quite well in the interview, given that he knows little about the subject, but during the video it becomes clearly apparent with hindsight, that he was caught completely unaware. The interviewer leads responses to her questions and Goma clearly refers to his ‘interview’ in the first answer. Hat off to him though, he didn’t give up…

Lessons To Be Learnt: ll Good clear communications are essential when managing any sort of interview ll Pressure situations can easily lead people (especially interviewees) to give false impressions ll The behaviors demonstrated in this incident illustrate the power of suggestion ll All communications involve a lot more than just words ll The power of the media to interpret just about anything for their own journalistic purposes is frightening – So be very careful what you say to them!

Mind Your Grammar The English language, with the invention of text speak is being ‘dumbed’ down and big brands are increasingly being embarrassed by their errors.

Tesco, the UK supermarket chain, were left highly embarrassed when a teenager from the UK pointed out to all and sundry, the correct syntax on a carton of Tesco orange juice that claimed to be the “most tastiest.” The chain apologised and fixed the double superlative, after it was reported throughout the global press.

This is not the only case however.

Victoria Secret found them at the centre of international ridicule when they decided to have, what can only be termed as an epic grammar fail in their Secret Body campaign tag line so it quite literally read - YOU’VE NEVER SEEN “BODY’S” LIKE THIS! The incorrect use of speech marks is one fail, but the incorrect use of the apostrophe is quite another. In this instance, they have made BODY a possessive as though they are talking about the female form.

When in fact, they were actually talking

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about how their garments can change you and therefore, they should have made it plural.

Losing Is Only Your Problem It is not just businesses that can teach you business lessons. Possibly the biggest lesson you can learn comes from sport. Any sports game will illustrate a loser. Rightly or wrongly, there has to be a winner at some stage of a tournament. The Super Bowl, the FIFA World Cup, the ICC World Cup… they all have just one winner. Do the other teams just give up after losing?

No! Will the Seahawks come back fighting harder next year after losing to the Patriots this year? Oh yeah!

In the same fashion as all of these, the only way you will lose at business is if you give up. You are likely to feel that you are losing, running after a ball that will never be in reach. You undoubtedly will want to give. In fact, I have never spoken to an entrepreneur who has not had this thought flash past them at some point, but you will always have that chance to take that shot again at some point in the future.

Ultimately, you are not defined by your past. Your past makes you stronger.

So your business may have failed - you can analyse your game plan in the past, so that you can change your tactics in the future. Winning is only a matter of believing in yourself. l

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