ISME Issue 26

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Contents June-July 2015

09 Rare & Fabulous

High-end luxury products for CEOs and decision makers.

18 Thumbay Moideen

The Enterprising Visionary

Thumbay Moideen, Founder President of Thumbay Group, shares his life’s experiences, challenges and inspirations, at the Emirates NBD Global Business Series.

22 Etisalat 0ne-stop Business Portal Packs Convenient Features for Business Customers

Etisalat extends its reach through its new business portal to help small and medium businesses (SMBs) better manage their business operations.

24 Tourism - a Viable Internationalisation Platform for SMEs.

SME leaders can use international travel to both inspire and generate business development, without disrupting a family holiday or day out. This article tells why SMEs should consider travel and tourism as a viable internationalisation platform.

26 Travel to Remember...

Intelligent SME Magazine in its special issue of Enterprise travel chats with Mr. Navin Chandiramani, Executive Director, Expert Travel who shares his insights on travel industry in UAE and benefits of business travel to SME Division.

30 Drive with Ease & Feel the Change - Toyota‌

Roberto Dasilva, General Manager, Toyota Retail, reveals to The Intelligent SME how the Japanese auto giant enables and reinforces the SME sector of the region with its valued benefits and initiatives.

34 Go green with Summertown Interiors!

Marcos Bish, Managing Director, Summertown Interiors shares with ISME Magazine his idea of

Contents June-July 2015 being eco-friendly and association with sustainable organisation. He adds up saying Summertown is leading the way in green fit-outs, having executed more successfully certified green projects than any other fit-out contractor in the UAE.

42 Taking the international plunge

38 Be a Learner, Be an Expert!

Dave Ulrich, the Rensis Likert Professor of Business at the Ross School, University of Michigan and a Partner at the RBL Group, a consulting firm focused on helping organizations and leaders deliver value shares his expertise ideas on effective human resource practices.

48 Are you passionate about your work?

40 Consult your business with Aurion

Mr. Syam Panayickal Prabhu, Managing Director & Senior Consultant of Aurion shares his ideas and solutions of setting up a company in UAE and running your business without any constraints.

Going international is an inherently entrepreneurial act for an SME and a surprising number of them have taken the international plunge. Steve Rasin in this article guides SMEs about the risk involved, when you take the business at the international level.

The office is no place for emotions. One should never get emotional at work. Nothing could be further from the truth! There has to be hard work, passion and dedication when it comes to work.

Without these 3 things, a person cannot bring willingness at their job.

52 2015 small business scorecard: Are you profitable yet?

Get ready to look closely at your balance sheet, assess your business operations and make the changes you need to become profitable!

56 Which alternative finance solution best fits your business?

The SME sector constitutes 95% of the total companies operating in the Emirate of Dubai.

Despite their importance to the growth of economies, SMEs face a number of hurdles when seeking finance. Mr. Craig Moore in his article shares the alternative finance solutions that runs the business efficiently.

60 Drive on! Lead on!

Much like the new car, owners of business who drive their enterprise are tested everyday on their navigational skills. So what is more important is the fact that they are polishing their crown of glory as the owner or their ability to navigate.

Supported by

Be a Connector

Gives your business an unfair advantage

EDITOR’S NOTE Travelling for business is one thing that cannot be neglected. Enterprise travel can be within the country or overseas, irrespective of which, consumes a large share of the corporate funds. Business travel enables an enterprise to explore new opportunities, expand operations, network and interact with key stakeholders that support the smooth functioning of the business.

SPI Group

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Publisher & CEO Shantanu A.P. Account Director Vijay G. Editor Jinal Chheda Asst. Editor Audrey Fernandes Expert Contributors Craig Moore Glenn Johnston Michael J. Tolan Neil Petch PK Menon Sachin Thombare

Salma El Shurafa & Veronique Ademar Sandi Saksena Sofocles Socratous Steve Rasin Suhail Masri Art Director Aneesh Varghese Designer Retheesh Viswanath Web Developer Raj Shekar Reddy Project Coordinator Khushbu Ranjan Response and communications

Response Executive Sheila L. Ruga Distribution Department

Jerry P. Sam Editorial Enquiries & Contributions

For Small and Medium Enterprise (SME), business travel is not only an opportunity but a hurdle as well. It is necessary for a SME to have a budgeted and manageable travel plan so that they can do their best and not be disturbed due to the lengthy travel bills burning a hole in the company account.

Airlines like Emirates and Etihad Airways offer reward points to corporate travellers, travel agencies tailor exclusive packages in form of offers and discounts to their corporate clients and banks like RAK, Mashreq and NBAD give SMEs multiple travel perks through business credit cards. However, are these benefits enough for SMEs to survive? I think we can have much more in the basket to support them.

June and July 2015 are counted as travelling months in the UAE. It can be either business or leisure travel. This is a reason why our June-July ISME edition focusses on Enterprise travel. The issue covers an exclusive feature article on travel by Glenn Johnston, Vice President, Corporate Communications and Public Relations & Director Middle East for AVIAREPS and an interview with Mr. Navin Chandiramani, Executive Director, Expert Travel who shares with us exclusive packages designed for corporate travel and benefits to the travel industry.

As always, this edition is well supported by our renowned contributors who share their views on various topics like corporate governance, insurance, finance, marketing, leadership and many more. We also have one on one conversation with Mr. Roberto Dasilva, General Manager, Toyota Retail, Al futtaim Motors-Toyota.

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The opinions presented are those of individual writers and not necessarily endorsed by SPI Publishing. The content in this magazine is protected by copyright law and is copyright to SPI Publishing unless credited otherwise, and may not be copied, reproduced or republished for any commercial purpose or financial gain.

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H AV E YO U A R R I V E D ?

Rare & Fabulous WATCHES | YACHTS | DESIGNER | JEWELLERY | BOUTIQUE | REAL ESTATE | GADGETS | EXOTIC DESTINATIONS | FINE DINING

June - July 2015

Intelligent SME

Rare & Fabulous

True colour captures with Samsung NX1 W hen it comes to photography, some scenarios can be more challenging to shoot than others; a subject in dim lighting or an object on the move can often end up as a blur, failing to convey the beauty of the original scene.

Unfortunately, there are many cameras out there that just aren’t capable of portraying all of life’s important moments.

Challenging existing expectations around the technology behind imagery, the Samsung NX1 marks a turning point in premium photography. With an ability to capture every decisive moment like never before, the Samsung NX1 takes imaging capabilities to a new level. Whether it’s your child

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triumphantly scoring their first goal or your friend blowing out the candles on their birthday cake, the Samsung NX1 will help you record the memories in striking detail.

A fast-moving action shot or moody, low light setting can be shot beautifully with the NX1 through an array of cutting-edge features: • Samsung Auto Shot Mode is a unique feature whereby the camera will automatically take a photo at precisely the right moment by recognizing high-speed motion (such as a baseball being struck by a bat) and calculating the speed in real time.

• Equipped with Samsung’s NX AF System III, the camera is both fast and precise, ensuring

all of life’s fleeting moments are captured. Users can simply focus and shoot immediately in complete confidence that they will get the result they desire. Photographers can take up to an astounding 70 highly precise, 28 megapixel images at a phenomenal 15FPS while continuously tracking the subject.

• The newly developed 28MP APS-C Sensor is equipped with Back Side Illumination (BSI) Technology, giving the NX1 the ability to shoot with extremely high ISOs, creating superb natural-looking images with extreme detail, even in dark conditions. This innovative feature exposes the camera’s sensor to more light than conventional camera models for outstanding images in low light settings.

Recording your memories through high-resolution video is also an option with the NX1 as it supports 4K and Ultra HD (UHD).

UHD offers four times higher resolution than Full HD, which results in smooth and impressive quality footage – even while shaking or moving. Post-production requirements also haven’t been neglected with the inclusion of conversion software for editing the 4K footage.

June - July 2015

Intelligent SME

Rare & Fabulous

Epson introduces portable projectors for the meeting rooms and classroom E pson Middle East has announced the launch of a new range of portable, highquality projectors with enhanced connectivity and networking features. The projectors are ideal for use in meeting rooms and classrooms and can also be used as a high-quality, affordable option in the home office.

This new range of portable projectors (EB-S27, EB-X27, EB-W29, EB-98H, EB-945H, EB-955WH & EB965H) are small and light enough to be carried between rooms. The models come with a carry bag to make moving and storage of the projector even easier.

The whole range uses 3LCD technology and an equally high White and Colour Light Output to deliver exceptional image quality and accurate colours. A 10,000:1 contrast ratio produces clearer image detail, while a number of different native resolutions mean the models suit a range of spaces.

Epson understands that being

in control is important when presenting in a corporate or education environment. This new range comes with multiPC projection software, which allows content from up to four devices, including PCs, tablets and smartphones, to be displayed simultaneously. The moderator function allows the host, whether it is the teacher, lecturer or presenter at a meeting, to take control of displayed content from the devices. A new A/V mute function allows the host to pause a presentation, and it also conserves power by dimming the lamp by 70% when in use. Once running, further costs can be saved thanks to the projectors’ long lamp life.

All the models have enhanced connectivity, giving choice and flexibility, however you intend to present. The range can connect to the latest digital devices or legacy analogue products, meaning older hardware doesn’t necessarily

need to be replaced.

Connecting smart devices couldn’t be easier with the iProjection QR code connectivity - simply scan a projected QR code using your smart device to connect and start working. Smartphone content can also be projected onto a larger screen thanks to MHL support. High-quality digital video and audio content can be projected via an HDMI input. For further flexibility, the range also comes with a wired LAN connection & optional Wi-Fi connectivity.

The range is quick and easy to set up with horizontal and vertical keystone correction, helping you achieve a perfectly shaped projected image without distortion, even when the projector is placed off-centre. You can also free up more workspace thanks to the projectors’ zoom function. A front exhaust means individuals can sit around the projector without being directly in the path of expelled hot air.

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June - July 2015

Intelligent SME

Rare & Fabulous

AXIS A8004-VE Network Video Door Station launched A XIS A8004-VE Network Video Door Station is an open IP-based door station for two-way communication, highdefinition video and remote entry control. It is an ideal complement to any surveillance installation and offers new levels of security for effective identification and entry control.

“Axis has a proven track record of bringing product innovation to the security and surveillance market. With AXIS A8004-VE we will provide our customers with an easy to install video door station that extends the capabilities of the security system. AXIS A8004VE allows our customers to quickly and easily identify and communicate with persons at the door and securely let them in. This is a perfect complement to any surveillance system and as easy to install as any network camera,” said Roy Alves, Business Development Manager, MEA. AXIS A8004-VE is a weatherand vandal-proof video door station suitable for both indoor and outdoor installations. The door station comes with a highperforming intercom function that provides clear and echo-free twoway speech with visitors

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and an integrated HDTV camera with WDR and excellent lowlight performance. The unit offers reliable 24/7 identification of visitors even in the most challenging environments. Power over Ethernet allows for installation with a single network cable and provides sufficient power to support and control most standard door locks directly from the unit.

For small- to mid-sized installations, such as retail stores and offices, AXIS A8004-VE will help improve security of the premises and simplify everyday operations. The door station makes it possible to communicate and identify visitors and enables remote entry control from an IP-desk phone, a mobile device or directly in a Video Managment System (VMS).

For enterprise installations, such as airports or larger industries where integration of different systems such as video surveillance, access control, IP telephony are needed, AXIS A8004-VE is based on open standards and Application Programming Interfaces (APIs).

By being fully compliant with ONVIF, VAPIX and SIP the product is easy to integrate with other systems. This enables Axis’ Application Development Partners to provide solutions

that meet specific customer requirements.

Genetec’s vision to offer customers a holistic approach to security management that includes video surveillance, access control and SIP-based communications through our Security Center software, coupled with the seamless integration of the AXIS A8004-VE Network Video Door Station, will ensure end users attain a greater level of situational awareness. Not only will they be able to respond to incoming calls while viewing live video from AXIS A8004VE, but they will also be able to take action from a single unified interface, such as unlocking a door or locking down a facility” said Jimmy Palatsoukas Senior Manager, Product Marketing, Genetec.

The product will be supported in AXIS Camera Station 4.20 planned for launch in May and AXIS Video Hosting System (AVHS).

Video management software from Axis’ Application Development Partners such as Aimetis, Genetec, Honeywell, Milestone and SeeTec will have full support for AXIS A8004-VE.

June - July 2015

Intelligent SME

Rare & Fabulous

Montblanc reveales masterfully painted leather goods N ew one-of-a-kind leather pieces inspired by Renaissance painting technique unveiled at London event attended by Montblanc Brand Ambassador Hugh Jackman.

Montblanc unveiled Meisterstück Selection Sfumato, masterfully painted leather goods with a contemporary and sophisticated appeal, at an event hosted at 3 Olaf Street in London’s West End quarter. Award-winning actor and Montblanc Brand Ambassador Hugh Jackman joined Montblanc CEO Jérôme Lambert for the global launch of the one-of-a-kind pieces inspired by “sfumato”, an ingenious painting technique developed during the Renaissance by the great masters, and applied

by Montblanc to the treatment of leather to highlight its natural beauty.

Pioneered by the great Leonardo Da Vinci, the “sfumato” technique produces imperceptible transitions between colours and tones by using fine shading and delicate graduation between colours. At its Pelletteria in Florence, Montblanc master craftsmen have developed a new collection by applying the sfumato effect to the finest and softest calfskin to give it an elegant patina that mirrors the luxurious qualities of the leather, and enhances its softness with a shadowed three-dimensional appearance.

“In the world of fine craftsmanship, we have found that by revisiting centuryold techniques and ideas, new innovations can come to life,” explains Jérôme Lambert, Montblanc International CEO. “With the Sfumato Collection, our artisans have creatively borrowed a technique pioneered by the great masters to create timeless leather goods that have the distinctive qualities of a work-of-art. Because each piece of leather individually painted with the greatest passion and dedication, they are

masterpieces in themselves.”

Inside the expansive London art venue with its dramatic façade featuring a colourful light installation by legendary contemporary artist James Turrell, guests were transported into the world of Montblanc craftsmanship, as they embarked on a journey of discovery to find out about the aesthetics of the designs but also the passion that goes into creating the Sfumato Selection. Artisans

demonstrated the skills and expertise required to make each piece from the design phase and the treatment of the leather, to the final assembly of each individual piece. Meisterstück Selection Sfumato pieces were displayed in three areas, each one themed around one of the three colours of the new collection: rich brown, flannel and navy blue. Following the presentation of the selection which includes a document-case, full briefcase, a large tote, a wallet, coin case, card holder and belts, Montblanc hosted an intimate dinner for Hugh Jackman and 100 VIP guests in an atmospheric dining area lit by candles and theatrical spot lighting. Each of the three tables recalled the elegant tones of Sfumato collection with decorations, linens, chairs and flowers inspired by one of the three colours.

Available in rich brown, flannel and navy blue, and made of the highest quality leather embellished with a newly designed M-shaped leather clasp, each piece is designed as a functional and enduring lifelong companion, having undergone extensive quality controls before it is placed in the hands of its owner.

The Montblanc Meisterstück Sfumato Collection is available in Montblanc boutiques worldwide from June 2015.

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June - July 2015

Intelligent SME

Get Informed

DIFC courts organised the in-house counsel forum to promote legal excellence

S

enior in-house lawyers from some of the world’s leading companies came together for the DIFC Courts General Counsel Forum to share experience, examine trends and discuss global dispute resolution best practices.

Created in 2013, the General Counsel Forum has become an important platform for dialogue and liaison between the DIFC Courts and leading in-house counsel. The meeting was chaired

by Chief Justice Michael Hwang of the DIFC Courts, and also included The Honourable Loretta Preska, Chief Judge of the United States District Court for the Southern District of New York, and Chief Justice Mohammed Al Suboosi from the Commercial Division of the

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Dubai Courts. Attendees identified key current and emerging legal and judicial developments, and discussed the future plans for both the DIFC Courts and the Dubai Courts.

23 organisations are represented on the General Counsel Forum including Aggreko, ADCB, Baker Hughes, BAE Systems, Carillion, Citigroup, DFSA, the DIFC Governor’s Office, DMCC, DP World, Emirates Group, Emirates NBD, ETA Ascon Star Group, Fajr Capital, Falcon and Associates, HSBC, Jumeirah Group, LG Electronics, Noga Holding, Smartmatic Limited and Standard Chartered.

Mark Beer, OBE, Chief Executive and Registrar of the DIFC Courts, said: “The General Counsel forum

is a unique platform for sharing legal excellence among the many multinational companies operating in, with and from the Middle East today. For the DIFC Courts, the event enables us to better understand the needs of in-house lawyers so that we can continue to support the needs of Global commerce to our fullest ability. It is through our engagement with the world’s leading lawyers, both in law firms and in business, that we will continue to be at the forefront of international dispute resolution.”

The DIFC Courts organise two General Counsel Forums per year, one in Dubai and the other in prominent cities across the globe.

June - July 2015

Intelligent SME

Get Informed

Dubai is fast becoming a regional hub for education

T

he number of students studying within Dubai International Academic City (DIAC) rose 20% compared to the previous year. Due to the wealth of courses on offer from some of the world’s leading academic institutions, Dubai is fast becoming a regional hub for education.

In the academic year 2014/2015, the total number of students studying in DIAC reached 24,065, with Heriot-Watt demonstrating the largest student population (4,778), followed by the University of Wollongong Dubai (3,363).

Students from 145 countries have chosen to study in DIAC due to its excellent facilities, while UAE Nationals now account for more than 10% of the entire student population. Over the past three years, there has been a 129% increase in students from Russia, a 45% rise in Bahraini students enrolling, a 60% lift in the number of Chinese students, and a 50%

increase in Filipino students that now study in UAE. These increases can be directly attributed to a series of student recruitment and sourcing initiatives organised by DIAC in the last 2 years.

Compared to the academic year of 2013/2014, the number of students taking masters degrees this year increased 20% and the number of students studying for doctorate degrees rose 12%. Students are increasingly seeking higher education options to enhance their skill sets and establish a career path due to the significant competition they experience as they enter the working world.

Commenting on the sidelines of the Gulf Education and Training Exhibition (GETEX), an event attracting 35,000 local and expatriate students actively looking for higher education, professional development and training options, Dr. Ayoub Kazim, Managing

Director of DIAC, said, “The population of Dubai has increased significantly in recent years, along with rapid economic growth. As a result, we have witnessed a substantial growth in the number of international students choosing to study at one of our institutions due to the quality of training and prevalence of internationally recognised higher education options on offer here.

“From an industry perspective, we are continuing to attract international operators to establish a regional presence in Dubai owing to the ease of market entry, absence of bureaucracy, and positive demographic and socioeconomic indicators. We are proud to be able to offer the advice and expertise needed to assist them in their plans and as such, the number of educational facilities we now support has grown from strength to strength, allowing us to support the UAE Government’s ambitions to drive an innovationled economy based on knowledge and expertise.

“At DIAC, we support students through all stages of the education lifecycle, from recruitment, placement, study, job application, right through to alumni.

“By providing quality, worldclass education, the numbers demonstrate our strong ability to attract transnational students from all over the world to study in the UAE. We are also able to offer our locally based students excellent, innovative educational options by attracting international institutions to the UAE. In doing so, we are helping to develop tomorrow’s workforce, a wealth of future leaders of industry who can significantly contribute to the wider economy and help towards the ambition of building a truly innovation-led economy, as directed by our leadership.”

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June - July 2015

Intelligent SME

Business Announcements

Easy money transfers in 60 seconds

E

mirates NBD, a leading bank in the region, has tied up with ICICI Bank, India's largest private sector bank, enabling customers in the UAE to instantly remit money to India through the DirectRemit service.

The tie up enables customers of Emirates NBD to transfer funds to account holders of ICICI Bank in India within a minute.

Commenting on the tie up, Suvo Sarkar, General Manager - Retail Banking and Wealth Management, Emirates NBD, said, "The DirectRemit platform epitomizes Emirates NBD's commitment to

providing customers with banking solutions that simplify their lives. It is amongst our most popular services as it provides customers with an on-the-go, yet safe channel to transfer funds instantly to their home country.

“We are delighted to tie up with ICICI Bank, which has the largest branch network among private sector banks in India with over 3,800 branches in the country, thereby expanding access to the DirectRemit service. With enhancements to existing corridors and the addition of new corridors expected in the near future, we hope to continue to offer the bestin-class service to our customers," added Sarkar.

Vijay Chandok, President, ICICI Bank, said, "We are committed to

strengthening the relationship with customers by means of continuous adoption of innovative technology.

With an experience of serving more than 1.5 million NRIs (Non Resident Indians) across the globe for over a decade, we have built significant expertise in the field of remittances. DirectRemit facilitates the convenience of sending money to any beneficiary in India within a minute. We are pleased to tie up with Emirates NBD and are confident that it will help us deliver best-in-class service propositions to NRIs across UAE." Customers can avail of this service through internet banking, mobile banking and ATMs of Emirates NBD. Customers are required to complete a simple registration process to add the ICICI Bank beneficiary.

Emirates NBD awarded as the best Automobile lending business for 2015 • LEAN approach to process engineering gave Emirates NBD 70% improved turnaround time • Efficient dealer relationship management established the bank’s increased market penetration levels with dealers increasing volumes multi-fold • The bank achieved increased market share in a highly crowded market Emirates NBD won the Best Automobile Lending Business award for 2015. The bank received the award at The Asian Banker’s International Excellence in Retail Financial Services 2015 Awards ceremony, held in conjunction with the region’s most prestigious retail banking event, the Excellence in Retail Financial

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Services Convention. In a highly saturated market, Emirates NBD differentiated itself by achieving customer satisfaction through a competitive turnaround time.

Its enhanced process attracted new customers that have greatly boosted the bank’s market share in the Middle East region where auto loans are mostly sold on pricing.

In order to meet the requirement for a faster turnaround, Emirates NBD completely transformed its auto loan product between 2011 and 2012. Through process engineering where the bank reviewed and revamped all existing process flows using a LEAN approach, Emirates NBD was able to improve turnaround time by up to 70%.

With most business originating from dealerships, the bank focused on dealer relationship management and handled them with a centralised team. It became one of the few banks in the region to launch a dedicated dealer loyalty programme, ‘STAR TRACK’, which resulted in greater dealer engagement.

As dealers participated with greater dedication, they were able to earn multiple awards based on their sales volume, year-on-year growth and portfolio quality with the bank.

Apart from product and process innovation, Emirates NBD aimed to further improve offers for customers and carried out comprehensive campaigns

June - July 2015

Intelligent SME

Business Announcements to offer them exclusive deals with premium brands. Through all key parameters, the bank successfully delivered solid results to stakeholders with significant increase in market share amongst more than 30 auto lending players

with one of the largest auto lending books in the market.

About 200 senior bankers from award-winning banks in 29 countries across the Asia Pacific, the Middle East, Central Asia and Africa attended the glittering event

that recognised their efforts in bringing superior products and services to their customers. The awards programme, administered

by The Asian Banker and refereed by prominent global bankers, consultants and academics, is the most prestigious of its kind.

Suvo Sarkar named ‘Retail Banker of the Year’ in the Middle East

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he award recognises his invaluable contribution to the UAE retail banking sector and impressive track record.

Emirates NBD, a leading bank in the region, announced today that its General Manager for Retail Banking and Wealth Management, Suvo Sarkar, has been named ‘Retail Banker of the Year in the Middle East’ at the Asian Banker Excellence in Retail Financial Services Awards 2015.

The award was presented to Mr. Sarkar at the largest retail banking gathering in Asia recently held in Singapore.

The Retail Banker of the Year award is one of the highest forms

of recognition given to a global retail banking leader for playing an instrumental role in transforming the bank’s operations and also making a strong impact on the wider retail banking landscape in the country. The honor also recognizes significant achievements over the person’s whole career, inspirational thought leadership towards the bank and the entire industry, and his efforts to invest in staff development.

Mr. Sarkar was chosen as the winner for his vision and determination to push the frontiers of the UAE retail banking industry to new levels through need-based innovation, digitisation, superior

customer experience and other value propositions that have created a benchmark for the UAE banking sector. The jury was impressed with the bank’s impressive financial performance showcased by Retail Banking and Wealth Management division in 2014, underscored by alltime high revenue growth registered during the year.

They also praised Emirates NBD’s efforts in promoting responsible banking in the country by informing and educating the UAE population on good financial management.

Congratulating Mr. Sarkar on the lifetime achievement award, Shayne Nelson, Group CEO of Emirates NBD, said: “On behalf of Emirates NBD, I congratulate Suvo Sarkar on winning the Retail Banker of the Year award. Under his leadership, Emirates NBD has shaped a retail proposition that is unparalleled in a competitive marketplace.

We have clearly identified gaps and needs, and created innovative banking solutions that incorporate technology and process reengineering. This strategy has enabled the bank to achieve a leadership position, while offering an enriched banking experience to our customers.”

At the awards, Emirates NBD was also named the ‘Best Retail Bank in the Middle East’, ‘Best Retail Bank in the UAE’, and ‘Best Automobile Lending Business’

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Thumbay Moideen,

Founder President, Thumbay Group, UAE

June - July 2015

Intelligent SME

Meet the CEO

Thumbay Moideen, Founder President of Thumbay Group, shares his life’s experiences, challenges and inspirations, at the Emirates NBD Global Business Series.

MC: What shaped your early days of life?

weekends are a part of my life.

TM: I feel elated while viewing pictures from my childhood. I grew up in a joint family, hence had several role models in my family itself. My maternal grandfather, ran a timber business, whereas my paternal grandfather owned a shipping business.

The elders in the family were successful in their field of business. Eventually, they culminated into my inspiration. I exchanged notes and learnt the ropes of trade from them. I was 8-years old when I gave my first public speech at the inauguration of a factory in Mangalore, India. I was 29-years old when I signed my first contract worth $10 million with the forest minister in Papua, New Guinea. Also in Africa, there were no proper roads connecting towns and cities. We had to resort to aerial transport. In order to keep a check on my business I had to learn how to fly a helicopter.

MC: You had an affluent background, so what drove you to achieve these goals?

MC: Did the people who inspired you lay the foundation of your values or was it your parents and education?

TM: Well, my family and friends were known for their ethics in business. So everyone who I looked up to have to be credited.

MC: You had a full-fledged family business. Nevertheless,

you came here and re-invented yourself. Give us a rundown of that journey.

TM: When I retrospect it dawns on me that God

had plans for me. I was 21 when I joined my family business. As I travelled the world to expand my business, my mind grasped unmeasurable knowledge. Different cultures, behavioural etiquettes, people management etc. was learnt on my travels.

Intrinsically, I’m passionate about work, and working

TM: During my childhood I always saw my grandfather strive to thrive his business. These episodes enthused me and I nurtured a go-getter attitude. Somehow, I needed to succeed. My father questioned my rigorous working schedule but I was adamant to bring my ideas and plans to fruition.

MC: Behind every great man, there is a greater woman. Is that true?

TM: My wife is an artist by profession. She was brought up in a business environment, hence knew the challenges that riddled the path. Although, she accepts she is a home maker, she has stood by me in thick and thin. My wife has been the pillar of support and travelled with me for business purposes whenever the need arose.

MC: Your life took an unexpected turn when you came to

Ajman. Shed some light on this interesting turn of events?

TM: On my way to Africa I had to transit through Dubai. During this course of time, I met a member of the ruling family of Ajman. We discussed about the economy of Ajman and ways to develop and boost it full-throttle. It is during this discussion, I told him the story of Manipal, a town in India, which was transformed into a medical hub by a visionary.

I casually stated that establishing a medical school can generate countless opportunities for the economy of Ajman. Few days later, he invited me to meet His Highness in Ajman. His Highness enquired about my background and asked me whether I had experience 19

June - July 2015

Intelligent SME

Meet the CEO

"There was a phase in my life wherein I couldn’t afford to pay remuneration to my staff."

in running a medical school. I denied however I did mention that my family owned a hospital back home. I told him my experience lies in the business of timber and in real estate. He asked me whether I could build a medical school for him. I reasoned citing my lack of expertise in the field.

However, after a while I gave him a nod and asked for his permission to get few consultants from India before proceeding with the project.

I recruited few consultants from top-notch universities and we unanimously concluded that there is huge scope for a medical university in Ajman. I required support in three fundamental areas and the same was conveyed to His Highness. Firstly, Ministry of Higher Education doesn’t allow expats to own a license for institutions catering to higher education.

Secondly, I needed approximately 25 acres of land to build the college. Thirdly, I required a hospital to train our students. The Ajman Government catered to my first requirement by awarding me a royal decree for the formation of the Gulf Medical College. The process of accreditation was prolonged to 7 years. His Highness resolved my second obstacle by gifting me 22 acres (1 million sq. ft.) of land. When I approached the bank to mortgage the land, they refused to do so as it was gifted.

They suggested I buy it from the government. I did the same. We were targeting Asian students but we got students from 30 different countries. As soon as the students graduated and had to practice at Khalifa hospital, the authorities objected saying the hospital couldn’t accommodate so many students. I had no other option but to build a hospital. In the early 2000s, we build a 200-bed hospital which was a huge accomplishment in itself. We marketed it through innovative methods.

MC: People say you need to learn

the ropes of trade before taking the plunge into business, but you are an exceptional example. How did you redefine this thought?

TM: I’m neither a doctor nor an academician by profession. I have no medical knowledge, so much so, that I cannot differentiate 20

between a cardiologist and a gynaecologist. During the formative years of the college, the Ministry of Higher Education lacked means of accreditation. I feel proud to say we ushered in the trend of accrediting educational institutions in the region. We created a governing council that consisted of prolific medical officials from the US, Malaysia, India and Middle Eastern universities, in order create transparency in our operations and audit our progress. Every two years we hold a conference, wherein the selected medical officials are invited and discuss our progress.

My job is of an administrator and a facilitator. I’ve always maintained that I’m not the dean of the college. I believe in supporting the professors at the university and the directors at the hospital to succeed.

Since I managed to survive in this field, we created various subsidiaries such as pharmacies, health clubs, coffee shops, restaurants, optical outlets etc. All are a brand in their own class and can be scaled to greater heights. We have opted the direction to do so.

We have narrowed down countries from where we get ample number of applications and are planning to build our campuses there.

MC: Elaborate on the business model you implement in your operations.

MC: Your team is said to be one of your core strengths. I want them to tell me their experiences while working with you?

TM: I believe we need money to survive and grow, simultaneously I’m not ambitious. So being ruthless or resorting to unethical practices to mint money isn’t my intention.

I have faced challenges throughout the ordeal of establishing the medical college and university.

There was a phase in my life wherein I couldn’t afford to pay remuneration to my staff. I felt utterly guilty and have termed it as the worst chapter in my career.

During my struggles when I was told that spreading knowledge and providing good health care is the best way to serve Allah, is when I found peace.

MC: Have your efforts created an impact in this region or is this an impending objectives?

TM: It was by accident that I

stumbled upon this opportunity.

MC: How does your business support and strengthen an SME? TM: I am unaware if I’m supporting an SME through my services. I’d like to know if I am and in which way is my business creating the ripple effect in accelerating and strengthening SME enterprises across the region.

Geetha Ashok Raj: I’m a Pathologist and have trained at the All India Institute of Medical Sciences, New Delhi, India. I joined the university as a professor and head of the Department of Pathology. I became the dean of the medical college and now serve as the provost of the university. The President (Mr. Thumbay Moideen) made me realize that there is a second aspect to education, which is maintaining the viability of the institution. The culture fostered by the university enabled me to look at the big picture and then etch out the best alternatives to grow. We have a great leader, hence we get inspired and appreciated.

Akbar Moideen: I was a child

when my father decided to build the university and the hospital.

June - July 2015

Intelligent SME

Meet the CEO He had to face the grave challenge of completing the construction of the hospital within six months and inability to do so would lead to the closing of the university and the students would be forced to return home. Even today, I ask him as to how he managed to build the hospital within a span of six months. Although, we have resources and experts at our disposal, I’m sure nobody could achieve the same.

TM: There are two reasons behind the success of Thumbay Group. We are committed to our goal and we stick to our guns until we achieve the set goal. Secondly, my team has stood by me during the test of time. The Ministry of Higher Education had given an ultimatum and we decided overnight to build a hospital. Consultants flew in from India and the whole project was operational before the deadline.

MC: Mr. Sunny Varky is the owner of GEMS education which demands extravagantly for education. On the other hand, you attest to have known the formula. How do you differ from Mr. Varky?

TM: Quality is of great importance

to us. We make sure our students are provided with high-quality education so that they are able to pursue their post-graduation in any part of the world. Our university is accredited and accepted at the highest level across the globe.

Our hospitals abides by the JCI accreditation standards. Also, we have created a program called ‘Care and Share’ in the university wherein approximately 30% of the students are sponsored by various organizations. Students with merit have monetary exemptions and the provost has powers to grant discounts to help the students who are economically weak. In the hospital, no patient is sent back due to lack of financial aid. We are busiest hospital in the region and the fact that 30% of the children in this country are born at our hospitals says it all.

MC: You mentioned innovation has led you to success. Elaborate on the innovative ideas and insights you introduced during the course of time.

TM: Innovation has fuelled our marketing tactics full-throttle. We never opted for commercialized marketing tactics but strategically joined hands with the biggest names in healthcare and secured a leadership position. We conducted workshops, conferences and seminars in collaboration with institutes like Harvard etc. that boosted our marketing objectives. Now, the competition is fierce, therefore we had to adopt commercialized marketing strategies to have an upper-hand in the market.

MC: Any regrets in your career and why?

TM: What had to happen has

TM: I don’t believe other countries provide cheap medical facilities as compared to UAE. You should pay a visit to our hospitals and check the prices. Most of the services provided are affordable. We have a medical tourism division and have catered to patients from over 20 countries. UAE is apt medical tourism and it can drive it to its peak. From past 6 years, we have been providing medical tourism packages to families who choose our hospital for treatment.

MC: Financial problems were a part and parcel of your ordeal to build your business. How did you ensure your business was financially stable and the operations were well-funded?

happened. It is impossible to relive the whole story. We have a strategic plan in place and my team is closely following it to bring it to fruition. I’m doing my part of the job by supporting them. The new generation will have another story to tell.

TM: In those days banks were sceptical to support me. However, we tried to convince the banks by channelling our best and eventually they agreed. When our loans were passed, I paid the employees their salaries well in advance.

MC: How did you stick to the core

MC: Why did you choose to diversify your business instead of succeeding in your field of expertise?

of ethicality whilst establishing your business? Also, what keeps you awake at night?

TM: My dreams for a fulfilled

future keep me awake at night.

In context to ethicality, we deal with over 40 insurance companies from across the region, who have sent mystery shoppers to our hospitals. Last year, some insurance companies stated that there was no need to send mystery shoppers to our hospitals anymore. I think this says it all. We have incurred losses but we never manipulated anything or anybody nor resorted to unethical practices.

MC: Many say that staying ethical is

difficult. What advice will you give small business owners who face the dilemma of ethicality?

TM: The easiest way leading to

success is straight not crooked. If you follow all the legal guidelines, no businessman will fail.

MC: Why do you think people still prefer other countries for health care services as compared and not UAE? Is cost an influential factor in this scenario?

TM: Most of my subsidiaries are directly related to my parent business – education and health care. Pharmacies, nutrient outlets, health clubs, trading division etc. are related to my core business.

MC: Did you have a mentor in your career?

TM: I had role models within

the family who were successful, generous and god-fearing people.

I have learnt a lot from them.

MC: Imagine we are gathered to celebrate your 90th birthday. Which achievements make you feel that you have lived a fulfilled life?

TM:

As you grow older, one realizes it’s not about professional satisfaction that provides solace to your heart but good deeds. I’m here to touch lives. My family, friends and team members should genuinely say that I was a good man with a kind heart for others.

I’d be happy if this were to happen.

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Intelligent SME

SME Booster

Analyse expenses

Manage your accounts

Service requests

Etisalat extends its reach through its new business portal to help small and medium businesses (SMBs) better manage their business operations.

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June - July 2015

Intelligent SME

SME Booster

Businesses are always seeking innovations in all aspects of their business operations to improve productivity and efficiency. We are pleased to announced the launch of our enhanced Business Online Portal - your virtual 24/7 online account management support at your fingertips. This move to offer our business customers an innovatively designed portal is part of our commitment to address market requirements, and more importantly, empower our customers by offering them better control and ease of use. We will continue to invest in improving our service platforms and tools, and using our experience to help businesses in the UAE grow and diversify.

Salvador Anglada, Chief Business Officer, Etisalat

Pay your Bills Invoice

A

s the region’s leading telecom services provider, Etisalat is actively developing advanced networks that will enable people to develop, learn and grow.

Etisalat is helping transform the UAE’s business landscape through innovative solutions powered by a world-class infrastructure and advanced mobile and fixed networks. Through its new service platform – the Business Portal

https://businessonline.online.ae,

the telco seeks to add value to businesses by saving the muchneeded time that businesses need to focus on their core functions.

The newly enhanced business portal by Etisalat caters to its large business community in the UAE, comprising small and medium businesses (SMBs) as well as large enterprises.

Keeping pace with technological advancements, Etisalat’s online business portal serves the demand of UAE’s small and big corporates that are increasingly tapping the opportunity to manage their business functions online.

Designed to add convenience to navigation and to save time spent standing in queues for bill payments, Etisalat’s enhanced business portal focuses on online bill payments, allows placement of orders online and benefits customers with relevant information on Etisalat’s services for small, medium and large enterprises.

The enhanced, easy-to-use portal is designed to offer users ease and efficiency in managing their business’ IT and telecom requirements digitally. Business owners can access and categorise multiple accounts under one group or create sub groups, making the payment procedure a seamless and convenient experience. The portal accommodates the customer’s need to make payments all at once or clear the payments in parts, making the portal budget-friendly

The new portal eliminates the need for customers to re-register, unless there is a requirement to add new admin. Upon furnishing relevant documents, the user account is activated in approximately 24 hours.

It enables Etisalat’s business customers to easily manage multiple accounts at one go, pay bills online, place and review orders based on budgets. It also allows real time online tracking of order delivery status and placing of new employee line requests through the portal. The portal

also helps the customers to find Etisalat’s business or service centre locations, payment machines and WiFi hotspots and so on

It also helps in tracking the status of service-related concerns raised by business customers. The business portal, which serves as a lead generation tool currently, will automatically manage end-to-end sales service in future.

The portal is flexible and customers can access Etisalat’s business-focused services around the clock.

G

reat effort!

Etisalat’s Online Portal is an easy tool to access/review/ payments of bills, request/review services for SMB customers.

Looking forward to more features in future.

Sadhish Babu | IS Service Delivery Team Leader | UAE, GHD

N

ew features on Etisalat’s B2B portal have made it quite easy to download outstanding bills, and saves time. It is very user friendly easy to navigate. Thanks to Etisalat for designing this one-stop solution for businesses.

The login process is secure with Etisalat sending a unique SMS PIN to protect the account from unauthorised access.

Teja | IT Manager | Vision Capital | Abu Dhabi

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June - July 2015

Intelligent SME

SME leaders can use international travel to both inspire and generate business development, without disrupting a family holiday or day out. This article tells why SMEs should consider travel and tourism as a viable internationalisation platform.

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June - July 2015

Intelligent SME

Special Focus - Travel

T

he tourism industry worldwide is a particularly vibrant one. It accounts for $7.6 trillion in revenues or 9.8% of the world’s gross domestic product (GDP) and was responsible for providing 105 million jobs, according to the World Travel & Tourism Council (WTTC).

Over the next 10 years, WTTC predicts global Travel and Tourism GDP will grow an average of 3.8% a year, directly and indirectly. Its GDP contribution to the world’s economy will rise to 10.5% and by 2025 it will account for 10.7% of the world’s employment.

Today, in the age of connectivity, the line between leisure and business travel is becoming increasingly blurred.

Even when on holiday we continue to check emails and respond to urgent work requests. Likewise, when on business trips it’s not unusual for people to extend their stay for a day or two, or invite one’s family over, so that destinations can be enjoyed and explored. Today, people travel for a multitude of reasons, and have various interests. A one-itineraryfits-all approach is no longer attractive or viable.

These trends provide unique opportunities for SMEs, even those not normally associated to traditional forms of travel and tourism, to expand their businesses and clientele internationally.

Medical Tourism is one such area where medical clinics and wellness centres are joining forces to jointly attract travellers to not only enjoy a destination, but also spend money there on medical procedures, dental care, and wellness programmes.

Creating unique flexible and themed packages provides travellers (and travel agents) with unique experiences that are readily understandable, easily communicated and of value.

Medical and wellness industries in Thailand, Germany, Malaysia, Singapore, and India have traditionally done this very well, especially when trying to attract travellers from the G.C.C. Dubai’s medical industries and wellness industries are now also recognising the potential of this lucrative travel segment and positioning themselves to become a regional

leader in this regard.

Another example using this same travel packaging model that providing unique opportunities for SMEs has been the recently launched Orange County California Real Estate travel package, whereby travellers are offered complimentary VIP personal shopping experiences at Orange County’s leading high end shopping centres, along with a complimentary three-day personal tour of luxury villas, condominiums and high-end properties that are for sale.

Says Ed Fuller, President and CEO of Orange County Visitors Association, California: “This specialised travel package allows local Orange County SMEs from the Real Estate sector access to an international clientele, while at the same allowing Orange County to broaden its appeal to new market segments – in this case luxury holiday home buyers and investors. It’s a win- win situation for not only the Real Estate agent and destination, but also for the overseas travel agent and most importantly their clients.”

The themes and combinations of these specialised packages are only limited by the imagination and commitment of the partners involved. Naturally, the results of these collaborations and packages need to fulfil a need, but for all SME’s, no matter what the line of business, it’s worthwhile considering what a collaboration with the tourism industry can yield.

SME leaders can also use international travel to both inspire and generate business development, without disrupting a family holiday or day out. Milan Expo is one such example of how an otherwise global business

Tourism provides SMEs an opportunity to allow international guests to directly meet and get to know your brand.

Glenn Johnston is Vice President, Corporate Communications and Public Relations & Director Middle East for AVIAREPS - the world’s leading airline and tourism management company as well as trade promotion specialists with over 100 airlines and more than 150 tourism clients in its portfolio. gathering can also be approachable and fun for the whole family. Here again innovative travel agents are quick to package these events as part of an easily purchased holiday package. The Dubai-based Vasco Worldwide has successfully taken this opportunity to exclusively offer economy to luxury packages that include Expo entry tickets.

“Comfort, seamless convenience and hassle-free travel is what the travel package offers”, said Shankear Kannaiyan, Senior Vice-President – Operations, VASCO Worldwide, adding that the company sees tremendous enthusiasm in the UAE to travel to Italy for the Expo Milano 2015.

Most important is that these packages can be custom-made and tailored as per individual requirements such as airline tickets, extending the stay, and sightseeing with tour guides. Adds Kannaiyan: “Exclusive elements can be added to make the trip more alluring such as a ‘Meal in the Sky’ dining experience which involves a table suspended 50 metres above the ground, personalised shopping tours and Expo Fast Track passes”.

Restaurants or retail outlets need not only be obvious choices for travel package inclusion.

Factories showing how artisanal craftworks are made with direct sales to international visitors and even organic farms providing farm to plate gourmet experiences are proving increasingly popular as tourist attractions.

Tourism provides SMEs an opportunity to allow international guests to directly meet and get to know your brand. It remains largely an untapped business opportunity that many SMEs fail to consider, and one that can at least be explored by simply visiting your local travel agent.

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June - July 2015

Intelligent SME

Special Focus - Travel

Intelligent SME Magazine in its special issue of Enterprise Travel, chats with Navin Chandiramani, Executive Director, Expert Travel, who shares his insights on travel industry in UAE and benefits of business travel to the SME Division.

Navin Chandiramani,

Executive Director, Expert Travel

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Intelligent SME

Special Focus - Travel Q: How long you have been into the

business of travel and what is Expert Travel all about?

A: I have been in Tourism for the

last 10 years, having launched a very successful attraction map in Jamaica. I expanded further into Travel when I arrived in Dubai 4 years ago. This is how long Expert Travel has been operating here in the UAE.

Q: What are the services you offer to the SME Division?

A: Expert Travel is focused 100%

on the Corporate Sector with SME’s making up the largest portion of our business at just over 40%. We offer the SME division leadingedge travel services in ticketing worldwide, hotel bookings globally, visa processing for the UAE and abroad, trade show support services, conferences and group excursions. In order to help this sector to flourish we offer 30 to 60 day credit accounts, 24-hour service and a never-saynever attitude.

Q: Share with us all your travel

packages tailored specially for an Enterprise or Corporate Travel

A: Typical travel packages for

the Corporate sector will include a business class flight, Schengen visa if required, travel insurance, private transfer, hotel booking usually upgraded at no additional fee, a three night-four day stay allowing for business and a bit of down time to relax and rejuvenate.

Complimentary spa treatments are sometimes thrown in depending on the season.

Q: As you have direct partnership with Airlines like Air Arabia, Emirates and Etihad, what airways benefits have you designed for SMEs?

A: As mentioned we are very

tightly aligned with the regions big carriers thus we make the most of mileage programs for our clients. We handle the frequent flier programs directly for a lot of our clients getting them upgrades and points flights wherever possible. We also manage our clients’ itineraries helping them to save as much as possible with date changes, re-validations and

re-issuing of tickets which happens frequently in the corporate sector as business can be unpredictable.

Finally we have the ability to pickup very economical last-minute seats on the regional carriers with our in-house technology.

Q: Does Expert travel has presence

in Middle East or only in Dubai. How efficient are the travel consultants accessible to the corporate customers and clients?

A: As of now our only physical

middle east presence is in Dubai, but we are reachable globally.

Our consultants are on call round the clock and we operate a very strict 10-minute response policy.

Apart from the clients having the personal contact details for their assigned consultant we also offer a centralised enquiry system so that there is always an agent to respond to your query in case your assigned agent is busy. Our consultants are trained to handle most issues and if they have doubts our highly experienced General Manager, Zia Malik, is always available to support them.

Q: What are the benefits or rewards

by logging in they will be able to access all the routes available to them should they need to make a change. They will even be able to effect those changes themselves.

As for additional facilities I am a strong believer in Travel Insurance to ensure a smooth and comfortable journey. We have partnered with Zurich, a global leader, to bring broad and economical plans to the SME sector.

Q: How frequently do you get travel

bookings from SMEs? Is this sector contributing to the growth of the travel industry?

A: If you listen to any great

business leader they will tell you SMEs is where the business is at. They represent the largest sector of businesses combined and provide the biggest opportunity for growth. We receive enquiries from some of our SME clients on a daily basis, some on a weekly basis and others monthly depending on their needs, we welcome everyone. This sector is contributing massively to the growth of the travel industry especially to the survival and birth of low-cost and budget airlines.

provided to the SMEs clients? Do you have yearly contract with them and how does it works out for both the parties?

Q: Which are other deals you have

A: We offer Corporate Accounts for

A: You can say we are the masters

our SME clients, once they apply and are approved by our credit department we assign them 30 to 60 day credit accounts depending on their needs. They avail of the best rates we can provide, they can book around the clock hassle free and can choose to receive invoices immediately or on a monthly basis.

The main benefit is that they have an agent on call any time of the day.

Q: Share your views about how can

you make the business travel easier for SMEs sector. What facilities should the package include to make the journey comfortable and ongoing in the future?

A: We believe heavily in

technology. We are currently working on an interface for our clients with KPTAC, our IT partners, whereby they can be in touch with us 24/7. Thus if they need to make changes to their itineraries

other than business travel? Which hotels do you have tie ups with?

of the “Staycation” – this is taking a vacation not too far from your place of residence. We have very close ties with the Waldorf Astoria in RAK, the Miramar al Aqah Beach resort in Fujairah, the St. Regis Saadiyat Island in Abu Dhabi and Anantara the Palm here in Dubai.

We are also directly tied up with many more hotels here in the UAE. We advise a 2 night / 3 day staycation starting on a Thursday evening and finishing on Saturday.

We have heard that people’s productivity gets a big boost from these!

Q: What do you think about the travel industry in UAE?

A: The travel industry in the UAE is definitely ground breaking, this is why we chose to open our head-office here. Apart from being a travel hub with many industry-leading airlines offering

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Intelligent SME

Special Focus - Travel

connectivity to over 200 countries, the UAE in itself is a massive destination. It is great to be positioned in an economy which focuses both on in-bound and outbound travel. Right now we have our sights firmly set on the Trade Show Industry for which we are the Official Travel Partners to over 20 exhibitions.

Q: What are special packages and

services you offer during Ramadan?

A: We have everything from the

fun-loving to the religious retreat, send an e-mail to bookings@ experttravel.ae right now with your preferences so we can surprise you.

SMEs is where the business is at. They represent the largest sector of businesses combined and provide the biggest opportunity for growth.

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June - July 2015

Intelligent SME

Roberto Dasilva

General Manager, Toyota Retail, Al Futtaim Motors-Toyota

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June - July 2015

Intelligent SME

SME Booster

Roberto Dasilva, General Manager, Toyota Retail, Al Futtaim motors-Toyota, reveals to The Intelligent SME how the Japanese auto giant enables and reinforces the SME sector of the region with its valued benefits and initiatives.

Q: Tell us a bit more about Al-Futtaim Motors’ SME benefits A: Al-Futtaim Motors’ SME offering allows us to focus

on customized fleet solutions, coupled with the right aftersales support for our customers. Building on the last few years’ successes, we now also have SME sales and service teams dedicated to meet the SME customer requirements quickly and efficiently delivering best in class experience.

Q: What sort of growth has the business seen?

A:

A few years ago, we realized the importance the SME sector is playing in the national economy. Being the automotive market leader, with the largest line-up of affordable yet reliable vehicles for SMEs to choose

from, we decided to dedicatedly support this segment with all possible means within our reach. Our strategy was to anticipate our SME customers’ needs and not to simply react to their requirements. It was by providing them with tailor-made transport solutions that their businesses would be able to grow. This strategy resulted in win-win scenarios for all stakeholders and today, we have witnessed impressive growth in our SME division over the past four years, with the SME business at Al-Futtaim Motors has growing by 120%.

Q: What financial benefits do you offer customers?

A:

We offer customers competitive financing options through a leading Islamic and conventional network of banks, excellent insurance products, buy-back

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Intelligent SME

SME Booster solutions, zero down payment, and deferred payments.

We empower SMEs to focus on their business, employing their fleets without upfront liquidity and with complete peace of mind with the best automotive deals in the market.

Q: What are your most popular models?

A: The most popular models within the SME segment

were headed by the evergreen Toyota Corolla, the world’s best-selling car, alongside the Toyota Yaris, both of which continued to see consistently good performance in 2014.

Similarly, the Toyota Hilux continued its impressive sales performance, while the Hiace recorded the largest growth in the SME division for the same period.

In total, we offer a range of 22 vehicles for customers to choose from, backed by six decades of experience. We believe we offer the breadth and experience required for the success of any business.

Supplemented by first class service and support, we ensure that Toyota is the automotive partner of choice for businesses looking to operate a worry-free fleet that provides them with peace of mind and low total cost of ownership.More importantly, all Al-Futtaim Motors SME solutions combine Toyota’s legendary quality, durability and reliability, coupled with the best Total Cost of Ownership (TCO) in the market.

Q: Are you offering any new services this year?

A: This year, Al-Futtaim Motors launched new

Toyota Business Centres, dedicated to service its SME customers in Abu Dhabi, Dubai, Sharjah and the Northern Emirates. These Business Centres offer exclusive account management, vehicle registration support, aftersales packages, leasing facilities, faster enquiry response, dedicated delivery process, Total Cost of Ownership (TCO) approach and Fleet Management consultancy.

Q: Why Al-Futtaim Motors?

A: Al-Futtaim Motors is not just in the business

of selling cars. Our job is to evolve just as market dynamics and requirements do, enabling customers to reach their goals and exceed them. This is what has made us the number one automotive choice for SMEs in the UAE, with a proven track record of happy customers and long-term partnerships.

This year marks a milestone in the history of Al-Futtaim Motors. Sixty years ago, in 1955, the Al-Futtaim Motors business started with just 28 vehicles on the shores of the Dubai Creek. From these humble beginnings enshrined in the principles of small business, we have grown to become the largest automotive distributor in the UAE.

Our motto this year, on the diamond jubilee of Al-Futtaim Motors, is “Fabric of the Nation.” We are part of this land, and as this country grew, so have we. Like many of our customers, we started small, but with belief, perseverance and the right partners, anything can be achieved.

DESCO Copy & Print Center is a trusted brand since last 3 decades. DESCO has the largest print network in UAE with 34 branches, some operating 24/7, it also has a full fledge Offset division equipped with "State of the Art" facilities. DESCO aims to bring printing near you with fast, efficient and economical printing solutions. To know more about DESCO log on to www.descoonline.com or call 800DESCO.

June - July 2015

Intelligent SME

CSR Initiatives

Marcos Bish, Managing Director, Summertown Interiors shares with ISME his idea of being eco-friendly and being associated with a sustainable organisation. He adds up saying Summertown is leading the way in green fit-outs, having executed more successfully certified green projects than any other fit-out contractor in the UAE. Q: Summertown Interiors is identified as a brand with high-end projects, what would you count as significant achievements so far?

best way to demonstrate our commitment to sustainability is to ‘walk the talk’, and we are proud to lead the green path in the UAE.

A: Although every single project

Q: Where did Summertown Interiors

we complete is an achievement, an extremely proud moment in our history was when we became the first fit-out company in the region to occupy LEED Gold certified interiors, in 2009. Since then, we have embraced sustainability in every aspect, through a collaborative and integrated CSR approach built on four pillars: community, environment, marketplace and workplace.

Following this approach, we are making our processes more sustainable, more comprehensive and healthier for our employees and at the same time we are sharing our knowledge and inspiring others to follow the green path. Not only have we been able to implement CSR sustainably and socially responsibly, it is driving our economic engine: our green turnover has been continuously growing since 2009, and we have a 100 percent success rate in delivering LEED certified offices for our clients.

We firmly believe that the

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begin? What was the 'sign' that propelled you to build a brand?

A: Summertown began life as a

joinery facility in the Jebel Ali Free zone in 2000 – servicing clients and fit out contractors with bespoke joinery works. Long before sustainability became “fashionable”, we were passionate about anything related to the topic and wanted to do more as a company. So in 2003 we decided to scale up this passion, hence the launch of a new interiors division of Summertown as a fully-fledged fit-out company which had sustainability at its core.

Q: What innovative concepts have been introduced to ensure sustainable fit-out projects? Please elaborate.

A: We believe our integrated

approach to sustainability was our ‘innovation’ with the introduction of our BHAG (Big Hairy Audacious Goal) to become carbon neutral by 2020. This has motivated us to strive to be the best at what we do,

be passionate about what we do, and to drive our economic engine.

It is an approach which informs every aspect of our business and allows us to win green projects, while maximising our productivity and improving our efficiency

We always look for new and creative ways to eliminate the waste of resources and minimize the impact on the environment.

To give you few examples, we implement, across all our projects, our own green waste management standards, whether they are being considered for green certification or not. Where possible we ensure construction waste is segregated and recycled and materials are reused onsite. In our sustainable fit-out projects we implement an Indoor Air Quality Management Plan to benefit site workers during construction as well as building occupants post construction.

We also take measures to protect the Heating, Ventilation and Air Conditioning system to keep it free from dust and particles during the construction phase, involving strict practices to keep the site as clean as possible to prevent dust and particle build up.

As a result of our integrated approach and passion for

June - July 2015

Intelligent SME

CSR Initiatives

Marcos Bish,

Managing Director, Summertown Interiors

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Intelligent SME

CSR Initiatives delivering the best projects for our clients, Summertown is leading the way in green fit-outs, having executed more successfully certified green projects than any other fit-out contractor in the UAE.

Q: What is your company inspired by?

What continues to inspire you and facilitate your growth as a creative brand?

A: Our people are our inspiration.

We believe in empowering our team and learning from every individual, regardless of the position they hold. This gives our employees a high feeling of self-worth within the company, which translates into high employee retention rates.

We are passionate about sustainability and continue to identify solutions to make us truly sustainable. We have evolved from being a green company, to one that embraces sustainability in every aspect of our business and the way we operate within the community, environment, marketplace and workplace.

Q: Who forms your clientele list? What do you believe it is about your product that intrigues people? And what keeps them loyal?

A: Being an example of a

sustainable organisation has helped us build a good reputation and credibility in the market. We are now the green contractor of choice for a number of clients and architects. We won a customer service award from 3M for the execution of their LEED silver certified innovation centre and are a preferred green fit-out partner for one of the most iconic sustainability projects in the UAE, Masdar City.

After 15 years of delivering high-end interior projects on time and within budget, while helping companies to implement green practices, we have built a notable list of clients and projects, with many seeking Summertown’s expertise for future expansion and development projects. Our clients include many of the leading Fortune 500 companies present in the region including AXA, ES Bankers, 3M and Siemens as well as major government entities such as Mubadala and the Higher Colleges

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of Technology. We also achieved the highest number of points for a LEED Platinum rated interior for The Change Initiative in Dubai.

Q: What is that 'thing' that your

customers can rely on from your brand?

A: Quality, we are committed to

delivering quality in everything we do. We strive to build long term relationships with our clients and partners, delivering projects that not only reflect our know-how and expertise, but also our deep understanding of the project’s requirements and the client’s expectations. Despite sometimes having strict requirements and challenging deadlines, careful project management and teamwork are decisive for the successful completion of our projects.

Q: How does your brand differentiate themselves amongst other fit-out companies?

A: At Summertown Interiors we

strongly believe that the strength of our company lies within our team. From our humble beginnings in 2000, we now have a workforce of over 130 people who are not only highly skilled professionals but form a strong team and a healthy work culture.

Many of them have been with us since the beginning. We value diversity and equal opportunities, encourage teamwork and healthy living and create an open flow of communication and team spirit.

Corporate Social Responsibility is at the core of our business and it is important our people share our vision and are committed to

support it; that’s why we nurture

“CSR-consciousness” throughout the organisation and this differentiate us from our competitors.

Q: With property prices softening day

by day and developers still harping on Dubai winning the Expo2020 bid to make the cut, do you think Dubai might face an office glut in the future?

A: Dubai has had a surplus of

office supply for years now. What we saw during the last property crash was a softening of rent prices across the board. This meant that many businesses decided to relocate to grade A offices.

As demand for these types of offices increased, prices naturally followed. As more grade A offices come onto the market, it’s likely we will see prices fall again, which is a good thing as more companies will be in a position to invest in their interior fit-outs.

Q: A lot of developments appear to be catered to future population targets.

Do you think it is risky to build for a population that does not yet exist?

A: Any type of forecasting is

inherently risky, but every city has to prepare for a population that is inevitably coming. The UAE continues to enjoy rampant population growth, particularly as more foreign companies and workers flock to the emirate.

Developers also have to be mindful of external factors that can impact the supply-demand dynamics.

Fortunately, the UAE Government has implemented measures to slow down the prospect of over supply.

June - July 2015

Intelligent SME

Expert Speak

Dave Ulrich, the Rensis Likert Professor of Business at the Ross School, University of Michigan and a Partner at the RBL Group, a consulting firm focused on helping organizations and leaders deliver value shares his expertise ideas on effective human resource practices. companies. With wonderful colleagues we founded RBL (www. rbl.net) where we turn these ideas into impact.

Q: What is the RBL Group all about?

As a partner what is your vision for the company and its clients?

A: About 15 years ago Norm

Smallwood and I decided that to leverage ideas, we would form a consulting firm where we help business and HR leaders create value. We have a development business that offers advice on leadership, HR, and organization.

We have a partnership business where companies join a consortium to share knowledge. We are delighted that our focus (results based leadership) is on results based, innovative, and solutions.

Q: As a Human Resource expert, what are your views about the current HR role? What proficiencies are important for an HR today?

A: This is a great time to be an

Q: Share with us your journey as a

professor, author, management coach, and management consultant.

A: My professional journey is both

simple and complex. I choose to do PhD based on a passion for learning about organizations and people. I have been privileged to be on the faculty at the Ross School of Business at the University of

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Michigan since 1982. For 7 years, I taught degree students; then moved exclusively into teaching executive programs since. With this Michigan professorship, I have been able to do writing (about 30 books and 100’s of articles), consulting (over half of Fortune 200), and speaking (80+ countries) on how to build talent, leadership, and capabilities (culture) in

HR professional not because of the HR focus, but because business leaders (especially those in SME’s) who have learned how to manage strategy, garner financial resources, and manage operations have realized that people and organization are the keys to their future. Thoughtful HR professionals architect talent, leadership, and cultural initiatives that will help businesses compete.

We have studied competencies for HR professionals for 25 years in 6 waves of study. We are now starting round 7 of this study where we identify not just the competencies for HR professionals, but the competencies that they possess that will drive business results.

June - July 2015

Intelligent SME

Expert Speak Q: What are your predications for the future of Human Resource practices?

University. Highlight the multiple roles played by you in this institutions.

A: We see a couple of trends.

A: It is such a privilege to serve

First, outside in. The criteria for effective HR practices are the extent to which they create value from customers, investors, and communities outside the organization. For example, a new book The Leadership Capital Index shows how investors can measure leadership as part of their market valuation. We have done extensive work on HR focused on key customers (eg., Leadership Brand). Second, integration. We believe that HR practices form an integrated solution to business problems. Integrated talent management includes staffing, training, performance review, career plans, succession planning, and so forth into an integrated solution to business problems.

Often this integration is around the capabilities a company needs to win (e.g., innovation, collaboration, efficiency, service). Third, HR governance requires matching the structure of HR to the structure of the business. Once done, HR governance improves when there are positive and clear relationships among members of the HR team.

Q: “HR from the Outside In”? What is the idea behind this name of your book and what does the book highlight?

A: We identify three previous

“waves” of HR work, which capture the outcomes of effective HR: administrative efficiency (e.g., cost per hire per employee), functional excellence (doing a better job with a specific HR practice), strategic HR (seeing strategy as a mirror that shapes an HR practice). The fourth, or next, “wave” is HR from the outside in when HR defines success by how it increases customer share, investor value, or community reputation. By seeing strategy as a window to the outside world (not a mirror), HR professionals have more business relevant conversations with their business leaders.

Q: You are currently associated on the Board of Directors for Herman Miller, a Fellow in the National Academy of Human Resources, and on the Board of Trustees of Southern Virginia

organizations. I am honoured to be on the Board of Herman Miller where, with about 10 other brilliant business leaders, we oversee the strategy and operations of this great company. I meet quarterly with this Board and have calls in between. I am able to see the overall flow of business and learn from brilliant board members.

At Southern Virginia University and National Academy of HR, I am privileged to donate time to organizations that I care about. I am passionate about 18 to 30 year olds who are starting out their professional and personal lives.

SVU gives me a lens into higher education. NAHR is a leading professional group in the HR profession where we can scan the world to predict future HR issues.

It is a privilege to associate with such talented colleagues.

Q: Share with us the outcome of

effective leadership and creating it as a brand within the company.

A: In our work on Leadership

Brand, we concluded that a definition of an effective leader should begin with promises made to customers. If a firm builds a reputation (or brand) as an innovator, then leaders should behave in ways that encourage that innovation. Too often effective leadership, or the competencies, of leaders are defined inside out.

A firm’s brand or promises to customers should overlap with a firm’s leadership competency model. This is such a simple idea, but most firms have separated the marketing and customer focus from the leadership and talent focus.

Q: Can you tell our readers about how organizations can build capabilities of talent, leadership, and culture (speed, learning, accountability, service, innovation, and collaboration) by leveraging human resources?

A: Most firms bring employees

into the company (sourcing, hiring), manage employees through the company (training, career planning, performance reviews), and move some out of the company

(retention). But these HR activities should be focused less on the activity (e.g., how many days of training were done or how many people were hired) and more on the outcomes of these activities.

We define three outcomes: talent (the firm has the right people in the right jobs with the right skills and commitment), leadership (the firm has a leadership brand throughout the company), and capability (the firm has the right cultural capabilities to compete like innovation, collaboration, efficiency, service, speed, risk management and so forth). HR work is not just about the activity, but the outcome of the activity.

Q: As a creative leader and an

influential person, you have authored over 200 articles, book chapters and journals. What message do you want to convey to our audiences and readers?

A: Learn, learn, and learn some

more. Ask questions to which there are not obvious or easy answers.

Experiment with ideas that have impact, then learn from what works and what does not. This work has been called learning agility, resilience, and growth mindset.

It is the predictor of long term leadership and personal success.

Q: Share with us your awards,

accomplishments and experience throughout the life.

A: Someone can see the awards on a web site. They are kind. But the most meaningful accomplishment in my life is my family. Wendy and I celebrate 40 years together this year. We are proud of our 3 children and their spouses. We are more delighted with our 6.5 grandchildren and the joy in their eyes when we get to see them.

Learn, learn, and learn some more.

Ask questions to which there are not obvious or easy answers.

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June - July 2015

Intelligent SME

SME Builder

Syam Panayickal Prabhu, Managing Director & Senior Consultant of Aurion shares his ideas and solutions of setting up a company in UAE and running your business without any constraints.

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June - July 2015

Intelligent SME We have a very organized team, and we maintain great coordination

between our clients and the free zones or government departments.

Q: What is Aurion all about? How does the consultancy function? What is your vision behind this company?

development/hosting, corporate logo creation & branding, and ISO certification consulting.

A: Aurion is one of the pioneers

Q: Which industry sectors and

in the field of Business Consulting and also the registered agent of several major Free zone and offshore jurisdictions in UAE. Under my leadership, Aurion acts as a one-point solution to entrepreneurs, investors and multinational companies from around the world, who want to set up their companies in the UAE. We listen to, assess and understand our client’s requirements and needs in relation to setting up their business. Subsequently, we guide them through the necessary steps and Aurion takes up the entire assignment on behalf of them. We make the incorporation process hassle-free for our clients.

Q: Aurion is one of the pioneers in

company incorporation and related activities in UAE. What all services and assistance does it provide to the clients?

A: Our services range from

incorporation of companies in Free zones, offshore & mainland and obtaining trade licenses, legal documents, visa assistance for owners employees, and related PRO services. But we are not just limited to those services as we also provide assistance for company share transfer, closing down/ liquidation of companies, and bank account opening. Moreover, we also do website designing/

continents does Aurion target and how do you smoothen the process of filing the documentation and setting up of business?

A: Our target is both local and

global, and from any industry sector. We have clients from all over the world having varied business activities. Our expertise, professional service, and in-depth & up-to-date knowledge, provide ease and smoothen the process in relation to complying with the formalities of setting up business here in the UAE. We have a very organized team, and we maintain great coordination between our clients and the free zones or government departments.

Q: Shed some light on the reach of Aurion worldwide.

A: Aurion is a decade old consulting company with the motto of Trust, Excellence & Delivery. We have more than 1,200 clients from 70 countries worldwide.

Q: You being a top-notch legal eagle,

what was the idea behind the creation of this consultancy firm?

A: Years ago, I felt that there was requirement in UAE to provide professional expertise for setting up companies. Thus Aurion was

founded in 2006 and since then it acts as catalyst to the economic growth of this country by bringing investors from other parts of the world.

Q: Till date, how many businesses have been set up by Aurion?

A: We have incorporated more

than 1,200 companies till date & it includes Free zone companies, offshore companies & mainland companies.

Q: Many business owners emphasize

on the challenges encountered whilst setting up their enterprise. What are the different challenges in setting up a business in the UAE?

A: The main challenge is to find the right location matching the requirements and budget of the investors. Our experience and expertise makes us confident to guide the clients perfectly.

Q: Besides a well-established

infrastructure what are the other advantages a business owner can leverage if he chooses UAE as his base for business?

A: UAE is blessed with political

stability, security, strong economy and above all, connectivity to all parts of the world. Being a tax free country and most attractive tourist destination in the world, investors form a bee-line to incorporate company, take visas, buy property and settle in this country as their second home.

Q: Aurion means quality and trust, how timely are your services and professional expertise?

A: We always aim to provide

our services as quickly or as timely as possible, without sacrificing quality and professionalism. Aurion was conferred Strategic Partner Award in 2014 for outstanding performance and contribution to Sharjah Free zone. Though a post graduate in Law, I have a rich experience in international consulting and recently have received Golden Achievement Award 2015 in Business Consulting category.

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June - July 2015

Intelligent SME

SME Builder

Taking the international plunge Going international is an inherently entrepreneurial act for an SME and a surprising number of them have taken the international plunge.

Steve Rasin in this article guides SMEs about the risk involved, when you take the business at the international level.

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ll companies start as small, entrepreneurial enterprises. The founders have a vision, an idea, born out of compelling necessity or creative opportunity or just serendipity, and they have the perseverance, focus, leadership skills and luck to execute, to build a growing concern out of that idea.

According to a recent survey of 2100 SMEs across 21 countries and ranging in size from $20 million to $750 million in sales, 75% have at least some revenue outside their home market. For about a third of them, more than 20% of revenues come from abroad and the pace of internationalization is accelerating.

Companies go international for many reasons. Perhaps they have outgrown their geographic confines. Or they see an opportunity to leverage resources at home – industry experience, customer relationships, financing, excess or low cost capacity - in order to tap markets where these resources heighten competitive advantage. In other cases, internationalization diversifies risk.

Often, the first overseas foray comes by accident, usually through the owner’s personal network.

Structural changes in the global

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economy may create “change-ordie” choices for SMEs. Such was the case in the manufacturing heartland of the US where many SMEs were forced overseas when their customer base relocated to Asia.

Over the last decade though, the globally networked economy has been a key driver of internationalization. The growth of the Internet, the easy access to information and knowledge that it allows and the low-cost

distribution model it enables is eliminating geographic, cultural and linguistic barriers, easing access and reducing the costs of going international.

The Internet is also bringing far-flung competitors into home markets. SME customers at home and abroad are infinitely better informed, their expectations raised, and meeting these expectations, though challenging for SMEs, is also an opportunity for them to differentiate.

June - July 2015

According to a recent survey of 2100 SMEs across 21 countries and ranging in size from $20 million to $750 million in sales, 75% have at least some revenue outside their home market.

For SMEs not born into international trade, their strong entrepreneurial bona fides were built in the local market and cultural context.

Internationalization is a radical departure from business as usual and so carries risks, risks that are magnified for SMEs with usually limited resources to draw on.

Key risks of internationalization include:

• Liabilities of foreignness: products or services adapted to the home market may face skeptical reception in the target market.

• Mismatched competencies: home-grown competencies and experience may not convey the same competitive edge in new markets.

• New organizations and processes: successful internationalization will require new organizations and processes that may not align with those in the home market.

• New relationships: choosing the wrong partners in unfamiliar markets will cost time, management resources and money.

• Regulatory risk: different standards, testing procedures, approval processes, etc. can add uncertainty and risk, particularly for manufacturing SMEs. • Financial risk: trade finance costs can be higher for SMEs as can be the costs of insuring against non-payment.

These risks fall into four broad categories - financial, customer, process and organization, and knowledge. SME management can manage these risks through a robust and holistic strategic planning process.

Though many SMEs may lack the resources and management bandwidth required for a formal strategic planning process, stepping back from the fray and evaluating direction, core competencies, strategic advantage and market risks and opportunities is especially critical before taking the international plunge.

What is the key rationale for going international?

Management needs to examine the factors that are driving them offshore. For example, are there structural forces that make the

Intelligent SME

SME Builder

move unavoidable? Or was there simply an attractive opportunity presented, possibly via the owner’s personal network? Is the competition, domestic or international, compelling a look offshore?

The answer to these questions will help focus the approach to internationalization. A serendipitous opportunity usually comes through the owner’s trust network and therefore some risks, e.g. partnership risks, may be mitigated while others, e.g. market and competitive risks, remain high.

Steve Rasin has worked as a strategy consultant since 1988 from bases in Asia, the US and Europe.

He has particular expertise on China.

He has worked closely with regional companies, particularly in the Middle East, with expansion into new regional and global markets and has written on emerging market strategy, the Internet and telecommunications markets.

What are the financing options and financial risks associated with international expansion?

the other categories of risk, our increasingly networked world has significantly reduced risk. Information on markets, competitors, customers, regulations, etc. is widely available, even for previously impenetrable markets like China and Central Asia.

Widely available information on the Internet is no substitute for careful primary research in the market itself. Some SMEs may lack the resources needed to retain outside support for this, but an internal market assessment exercise, including travel to the target market, will pay off in the long run.

Here’s the summary of the six key lessons learned during Cedar’s thirty years assisting SMEs expand overseas, especially into difficult emerging markets like China and India.

Because international operations are inherently more risky, financing will necessarily be more costly and more difficult to secure. Many governments offer trade and working capital financing and risk mitigation programs.

Understanding the foreign market and especially the customer base, careful due diligence where possible, will help mitigate nonpayment risks.

How would the move align with the current business?

Regardless of what is driving the move offshore, it is important to assess how the move will affect the core business. For example, small organizations built to serve domestic customers will not necessarily be equipped to serve new international ones, especially those far afield and in unfamiliar markets. With the first international contract there may not be a need to radically restructure but in the longer term, as the new business expands, sustained growth will require changes. Growth overseas will inevitably strain management and other resources at home. It is essential to plan for and mitigate these strains.

What are the dynamics of the new market?

Particularly for companies moving offshore for strategic and not opportunistic reasons, it is important to assess the structure and dynamics of the target market.

Here more than in any of

Lessons learned in taking the International Plunge:

• Don’t let serendipity or opportunism drive strategy.

• Build strategy aligned to sustainable core competencies across financial, customer, organizational and knowledge perspectives.

• Build knowledge and market intelligence smartly – leverage government, trade shows, personal and family networks.

• Build partnerships slowly and methodically.

• Take the time to understand the host culture and business practices deeply.

• Be ready to meet customer expectations heightened by the technology-enabled collapse of distances and spread of knowledge.

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June - July 2015

Intelligent SME

Human Resources

How to find top talent for your SME? Finding top talent is akin to finding a needle in a haystack. With a myriad of great talent out there you need to adopt the right strategy to not only pinpoint the best of the bunch, but to also attract them. In this article Suhail Masri, Vice President of Sales, Bayt.com gives us tips to find a right talent in budgeted cost.

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the You can enhance your search for right tools. right employees by using the

H

owever, being an SME, you may not have all the resources that larger organizations with dedicated HR departments tend to enjoy. Not to worry, though. There are basic techniques and tricks that you can use to help you attract and find top talent, without needing a lot of resources.

Perfect your mission and vision Attracting -- and eventually

finding -- top talent is directly related to the type of employer brand you have. Work on perfecting your mission, vision, and values, and how each would relate to your corporate culture, work environment, and employees.

Keep this in mind: five out of every 10 professionals in the Middle East want to work for a place where they feel they are working for a greater purpose, as stated in the Bayt.com ‘What Makes a Company an Attractive Place to Work?’ poll, February 2014. So, try to incorporate the greater good in your mission, vision, and values.

Actively brand your SME as an employer of choice

Now that you’ve spent some time deciding on how you want your company’s culture to be perceived, it’s time to let the world know. Branding your company as an employer of choice, especially online, is the best way to do so. For example, if you have a Facebook page, don’t just post about your products and services! Share pictures of happy employees, that Xbox on the corner, or company dinners.

Improve your hiring techniques Improving your hiring practices

can go a long way in recruiting only the best. Write effective and impressive job descriptions to attract top talent for your SME. When scanning CVs, always check for relevancy, gaps and special achievements. During the job interview, be prepared beforehand by going in with a set of relevant questions for each candidate. Most importantly, let the candidate know if they are not selected. 60% of professionals feel that the most harmful thing a company can

do for its brand is to not follow up or communicate after a job application as stated in the Bayt. com ‘What Makes a Company an Attractive Place to Work?’ poll, February 2014.

Make your employees your ambassadors

A great work environment speaks for itself, so ensure that your employees are happy. In order to do this, the main element is to be transparent, especially in an SME. You need to be clear with your employees on how things are going, and where. In the MENA, 30% of professionals feel that communication channels in their company are not open according to the Bayt.com 'Employee Engagement in the MENA’ poll, April 2014. Managers of an SME should have an open and frequent dialogue with team members, and always provide honest feedback.

Using employee referrals

Employee referrals work like a charm and are cost effective. Your employees know the type of people needed for your company as they are aware of your SME’s working style and cultural fit. They would always think twice before referring the wrong type of employees for your company, as their name is on the line as well. Your referral system could be based on cash rewards upon confirmation, or perks like a day or two off.

Compensate your employees fairly

Fair compensation is an important part of attracting top talent. The important thing to keep in mind is that loyalty isn’t only linked to salary received. In fact, non-monetary ways of awarding talent include giving rewards for service or excellent performance, giving gift cards or free parking, inculcating training and development in the organization, and just generally applying the

Improving your hiring practices can go a long way in recruiting only the best.

June - July 2015

Intelligent SME

Human Resources Suhail Masri leads the sales operation at Bayt.com. Suhail has held varied roles in sales, marketing and business development across the Middle East over the past 20 years.

Prior to Bayt.com, Suhail worked at one of the world’s largest pharmaceutical company MERK & Co., where he was responsible for the sales and marketing of leading brands in the region. In addition to his sales and business development experience, Suhail has held various roles in human resource development, where he was in charge of coordinating and leading the implementation of human resource practices, sales capacity building programs, and ongoing development of a superior workforce.

Suhail is a graduate of Jordan University of Science and Technology with a BSc in Pharmacology. three engagement principles that have been mentioned above.

Having said that, monetary compensation is still essential. It’s advisable to pay your employees according to the market rate, and you can benchmark salaries on products like Bayt.com Salaries.

Use the right hiring tools for your purpose You can enhance your search

for the right employees by using the right tools. For example, if you are short on time, searching through a CV database of active and passive jobseekers can help you get results quickly. Bayt.com’s CV Search allows you to access over 20 million professionals, with comprehensive filtering and search tools to let you pinpoint the perfect one. On the other hand, if you are interested in attracting top talent, the viral nature of job postings can help you reach more relevant people.

Overall, while hiring is always tricky, you can greatly improve the process of attracting and retaining top talent for your SME with a combination of good employer branding, effective hiring techniques, and the correct tools.

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June - July 2015

Intelligent SME

Marketing

The Art of Engagement

Why every leader & entrepreneur today must be a master orator? When we talk about engagement here, we are referring to people engaging with people (one-to-many) and not the product. While engaged with an audience, you should be clear about what are you addressing to whom rather than the outcome.

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he phrase ‘people buy from people’ doesn’t just refer to the buying of goods. It equally refers to the sharing of knowledge, wisdom, thoughts and ideas. This is our primary role as a leader, entrepreneur and/or subject matter expert. In a world that’s wired

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24/7 it is becoming increasingly challenging to make ourselves heard let alone stand out from the competition.

Gone are the days when we could simply rely on great content in a book, a white paper or on our websites to sell our thoughts and ideas. If life were a play, you would

be the producer, director, writer and actor all rolled into one. In order to engage an audience, you must come from a place of absolute conviction. To even think about stepping onto the stage before you are 100% clear on why you are there would not only be pointless, but also potentially detrimental to

June - July 2015

Intelligent SME Great leaders, entrepreneurs and subject matter experts are masters at the art of story telling. your integrity and your career.

People are looking for experts they can trust & feel a connection with

Where the focus used to be predominantly on systems, processes, structure and hierarchy, today the emphasis must be more on inspiration, influence, differentiation and collaboration if you want your point of difference to shine. Traditional forms of marketing have lost their traction as people today are looking for experts they can trust and with whom they feel a connection.

Our focus must therefore shift from just delivering great content to creating, delivering and amplifying powerful messages that connect with our audiences and influence them to act. The key to winning hearts and minds and being a person of influence in the 21st century is to master the art of telling a great story and making sure the subject matter and the way it is told is relevant to the audience you are addressing. This includes people within and beyond your own company.

Think of a time when you have had to tell staff of a major change that you knew would dramatically impact the way they operate.

Many leaders make the mistake of sharing this type of information in an almost apologetic way, thinking that their staff may support them if they think external forces drove the change.

In other words, these leaders mistakenly think that if their staff members assume they are unhappy about the change too, then they won’t blame them for the extra work the change causes. But nothing could be further from the truth. Optimism creates energy, confidence and clarity while negativity is a deadly toxin that does nothing but generate more negativity and reduce your level of integrity.

Are you crystal clear on your own grand plan?

Inspiring greatness in others begins with your own intention – why are you doing? what you are doing? What’s your grand plan; your vision? It is only when you are totally clear on your intention, that you can allow it to drive your

purpose, which, when driven with unwavering conviction, will produce the desired outcome. So what is conviction? In my view, conviction comes from the heart.

Leaders who are absolutely clear on their intention feel the passionate fire of conviction deep within their bellies. It is this burning flame that will sustain the discipline needed to achieve their vision.

Speak from a place of conviction and understanding

Speaking from a place of conviction is immensely powerful.

But just as powerful is when you come from a place of listening and understanding rather than dominance and control. To accomplish this, start by focusing your attention outwards. Show your audience that you understand their needs, wants and points of view. Let them know you have listened to them and understand their ‘pain points’ by using examples, analogies and metaphors that highlight the big WHY (why they need what you have to offer).

Let’s look at an example we’re all familiar with. When we visit the doctor, he or she almost always begins by listening to you, asking probing questions designed to get to the root of the problem and confirming they understand what you have told them by paraphrasing what you have said. Doctors demonstrate their engagement by diagnosing the problem at hand, followed by either a referral to a specialist or for some tests or handing out a prescription which most will happily follow without question.

Optimism creates energy, confidence and clarity while negativity is a deadly toxin that does nothing but generate more negativity and reduce your level of integrity.

Marketing

Prakash ‘PK’ Menon is one of the most influential leadership, retail and supply chain and logistics authorities.

He is the author of three books – Driven - Accelerate Your Career with Smart Transitioning, Supply Chain is Sexy - Harnessing the Retail Revolution and Fail Smart - The Undeniable Link Between Failure & Success.

Please connect with him on pk@ thoughtleadersme.com

By communicating with conviction you demonstrate that you are coming from a place of deep understanding, empathy, humility and service. This isn’t about convincing someone to believe your point of view.

Rather, your mastery of the topic, the self-belief you possess and the energy with which you communicate your point of view creates a powerful magnetism that draws people towards you. Great leaders, entrepreneurs and subject matter experts are masters at the art of story telling. More than just the words they use, their tone of voice, gestures, body language and posture come together to reflect their passion and mastery of a topic in a way that excites the audience they are addressing and compels them to act.

In other words, the same topic may be addressed in different ways depending on the audience and their motivation for being there. If you were speaking on the topic of property investment for instance, you would address investors very differently to the way you would address property developers and property managers as each would be there for very different reasons.

As an authority in your field, the conversations you have with others are equally about what you say and your intention behind saying it. Remember, people don’t buy products and ideas; they buy people. Once you understand this key point, you will understand that the focus should always be less about the outcome and more about the audience you are addressing.

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June - July 2015

Intelligent SME

Career Mantra

Are you passionate about your work?

The office is no place for emotions. One should never get emotional at work.

Nothing could be further from the truth! There has to be hard work, passion and dedication when it comes to work. Without these 3 things, a person cannot bring willingness at their job.

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his is now a huge systemic problem and has already caused some serious damage to the work lives of employees and the bottom lines of employers. If this remains unchecked and unless there are some big changes made at workplaces around the world, we are looking at workplaces turning into hateful torture chambers (if they haven’t already become so)

Let us take the biggest problem amongst the above. 9 out of 10 people are not passionate about their work. This is a staggering number and certainly deserves our attention even if we discount the figure by 50% as I have stated in the box So what is really meant by being passionate and why is it so important?

Deloitte defines it as the presence of 3 attributes.

Employees are said to be passionate if they

Not engaged at their job

Let me begin with some very grim numbers.

1. Seek challenges 2. Want to have a lasting impact on the field of their work and 3. Build trust based relationships.

To begin with and simplify the above, you can simply ascertain whether you are in love with your job! Is there an emotional connection you feel with the job that goes beyond the obvious give and take transactional nature of the arrangement? Is there a strong enough reason beyond wanting to meet material needs that is served by your job?

The words emotion or emotional are largely

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Not happy with their job

Not passionate about their job misconstrued by the corporate world. Being emotional is akin to being out of control or even week or irrational is common corporate parlance. This is a sad interpretation. Being emotional at

These are findings by some of the biggest names in employee surveys (Deloitte, Gallup) Even if we discount these numbers by 50% we are still left with some very sad numbers.

7 out of 10 employees are not engaged at their job.

8 out of 10 employees are not happy with their job.

9 out of 10 people are not passionate about their job. the office conjures up an image of someone getting carried away or making irrational or illogical decisions. This is not what is meant by these words. Not at all.

June - July 2015

Intelligent SME Every human action is ultimately dictated by an emotion.

Passionate people go beyond doing the bare minimum.

They find resources within themselves when difficulties and problems arise.

Every human action is ultimately dictated by an emotion. Every action or inaction ultimately serves a twofold purpose – an external manifestation or the physical/ material result and an internal satiation of emotion. Let us take an example. A business head has to take a decision to let go 20% of her work force or risk losing her own promotion. She executes her decision swiftly without much difficulty and hands over the pink slip to 20% or her subordinates the very next day.

She appears rational, logical and even cold or downright nasty while doing this. The common jab heard at the water cooler after this incident would be ‘she has no heart, no emotions’. This could not be further from the truth.

This lady is actually very emotional. It’s just that the emotions are not what you might expect in a ‘good person’. Her actions may be dictated by the fact that she wants to ensure her own promotion which to her is more important than the jobs of many of her subordinates.

Her actions therefore, are ultimately meant to satisfy an emotion.

Selfishness for example has its root in the fear of not having enough for oneself.

The base emotion behind her action therefore is FEAR! Most seemingly ruthless, aggressive, selfcentred, cold people in the office are actually operating out of fear.

This is exactly what I mean when I say every human action is dictated by an emotion. The corporate world therefore is extremely emotional.

Moreover, all so called logical and rational people are also very emotional. The real essence lies in finding the emotion behind

Career Mantra

Sachin Thombare is a hypnotist, a master practioner of Neuro Linguistic Programming and Gestalt therapy.

He is the creator of the Subtle Skills™ training platform and trains corporate clientele on enhancement of human potential. Sachin is also an intervention based coach who specialises in turnaround strategies.

their action!

So why is being passionate so important? It is simple really. When you are in love, you tend to do all you can for the object of your love.

You can surpass great obstacles and take on huge challenges when you are in love. You do not easily let go when difficulties, problems or hurdles show up. You go out of your way and are not content in doing just the bare minimum.

Passionate people go beyond doing the bare minimum. They find resources within themselves when difficulties and problems arise. They have a very clear reason to continue working and striving when most would want to let go.

Passionate employees are the key to a successful organisation.

The simple message here being that if you are in love with your job, you will do much more than the bare minimum that is asked of you. You will tend to be resilient and strive on in difficult times.

Underachievement amongst employees is more a problem of attitude and not that of ability.

Most people look at doing anything more than the bare minimum as painful. To reverse this tendency, it is important to have an over-riding reason for doing the work you do.

It is important to be in love with your work.

Now that we have seen how the corporate world is very emotional and the fact that passionate people are the ones that ultimately make things happen, the next part in this series will address the next few important questions like 1. Are you born passionate or is it possible to inculcate passion? and How to instil passion amongst employees?

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Corporate Governance

What does a “data diet” look like?

The corporate data diet Why your business should lose data weight?

With the significant increase of data over the past years and a prediction of it multiplying ten times by 2020, Intelligent SME catches up with Sofocles Socratous, Vice President EMEA, Seagate to understand how SME’s across the Middle East can become smarter in managing and storing their digital assets and reduce the overall cost of storage.

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e live in a world of technological abundance. Today everyone has a computer not just in their homes and in their offices, but in their pockets too. We create not just documents and spreadsheets but photos and videos in uncountable numbers. Even inanimate objects are now networked together, sharing data and creating knowledge from apparently mundane sources. Technology and the data it creates are deeply embedded in every aspect of our lives, to the point where it is becoming almost invisible. Just like electricity or water, it is just there when we need it.

So it comes as something of a shock to realize that one of our most valuable technical resources is running out - data storage. In 2013, the world generated around 3.5 zettabytes of data, the equivalent of 120 billion 32-gigabyte smartphones, or 600 billion DVDs. To put another way, it was more than 3 billion years of video! By 2020, we will be creating more than ten times that amount of data.

Unfortunately for us, we’re going to run into trouble long before then.

By 2016, estimates show that we will be producing data faster than we can store it. The bottom line is that in less than two years, the digital abundance we all take for granted will start to become a drought.

Bridging the so-called capacity gap between the volume of data we

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produce and the amount we can easily store is no easy task. Data grows much faster than our ability to manufacture the hard drives to keep it on. Even with hundreds of billions of dollars of investment in new factories, the projected data figures are so extreme that we have no realistic chance of outrunning them with existing hard drive technology. While there are new storage technologies in development which promise to dramatically increase the density of information that can be stored on physical drives, they are still years away from practical deployment.

And even they won’t be able to cope with all the data we’re currently creating.

The hard truth is that we may all need to go on a “data diet”.

Whether we are small businesses or large one, content consumers or media creators, we need to be smarter about the way that we manage and store digital assets.

What does a “data diet” look like? The critical thing for businesses to think about is what data they really need. Today, most companies’ hard drives are populated not just with business-critical information such as databases, spreadsheets and business documentation but littered with non-essential data too; everything from old email archives and attachments to personal staff photos and videos. Managing this data explosion is non-trivial, but it will pay dividends in the near future as storage becomes a scarcer resource and businesses look for ways to reduce its overall cost.

The Seagate Data Diet: 5 tips for smarter storage Stop taking storage for granted.

Educate the workforce about

the need for smarter thinking about what data you keep and why;

Most businesses keep multiple copies of documents, especially content-heavy files such as slide decks. Develop policies that prevent duplication of files, and that encourage centralized collaborative approaches rather than the fragmented models currently in place.

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Intelligent SME

help them understand that this is not a draconian move to make their lives harder, but a business-critical issue that needs immediate attention.

Develop a data policy

Work with the IT team to create a policy that outlines what kind of data can and can’t be stored on hard drives, and what employees can and can’t save to the network.

Such policies are easily enforced with existing technology, both at the network and storage level; even the simplest NAS devices allow quotas to be set for each user, thus forcing them to think harder about what they really need to save.

enabling businesses to clear large volumes of disk space quickly.

De-duplicate

Most businesses keep multiple copies of documents, especially content-heavy files such as slide decks. Develop policies that prevent duplication of files,

and that encourage centralized collaborative approaches rather than the fragmented models currently in place.

Manage backups more effectively

Spring-clean your systems

Even the most routine of investigations inevitably reveals the scale of the problem for most businesses. Many tools are available for scanning hard drives and graphically displaying their contents, making it easy to decide what you need and what can be safely discarded. Similarly, email management tools help to identify old and outdated attachments,

Sofocles Socratous is the VP of Sales & Marketing for Seagate in Europe, Middle East & Africa (EMEA). He oversees all sales and marketing activities within this territory, including direct PC and Consumer Electronic manufacturers, retail and channel sales.

Make sure that you keep the data that you need to restore your business in the event of a serious problem, and no more.

Determine how many backups you really need, both for operational and regulatory purposes. Backing up data is essential and must be done carefully, but it must also be done sensibly; there’s no point in keeping old data for the sake of it. Make sure that you keep the data that you need to restore your business in the event of a serious problem, and no more.

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June - July 2015

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Growth Strategies

2015 small business scorecard: Are you profitable yet?

Get ready to look closely at your balance sheet, assess your business operations and make the changes you need to become profitable!

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Growth Strategies

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any small business owners don't know the difference between ‘busy’ and ‘profitable’.

They are chasing payroll money every month, they're getting deeper into debt, and if they happen to have one or two months of delayed receivables, they find themselves in a very precarious situation.

I know that it might be the least appealing part of business planning for most, but having an up-todate balance sheet and keeping the cash flowing is by far the most important thing for your business to thrive.

Cash flow is the lifeblood of a small business. If you run out of cash before you can create a steady income, it's game over. It’s a hard lesson to swallow; you’ll be financially and emotionally devastated.

So, your aim this year should be to grow into a seasoned, successful business owner, by gaining financial and operational insights, so your business balance sheet is always positive. Just like the old adage goes - awareness is 90% of the solution, and clarity leads to resolve.

So, let’s not waste any more time, and let’s start your business scorecard.

sure living on minimum wage wasn't what you had in mind when you started your business.

When you grow your team, be very clear on the roles and responsibilities of each position, on the tasks each person needs to accomplish, and how each member of the team contributes to the bottom line. As a small business you can’t afford an extra pair of hands, just in case you get more business in. You need just the right team and the right skills in place.

Spend money wisely.

It’s nice to have new shiny things, like fashionable desks and sofas handpicked by an interior designer, or an Italian coffee machine that has the range of a barista. But, when you're using your savings or going into debt to launch a business,

Packing in the payroll.

Payroll is one of your largest expenses when you have staff.

As a small business owner you become the lowest-paid person at your company. I'm pretty

being frugal will help you reach a positive cash flow much more quickly. So, beware of going too large! Your dreams and ambition may be sometimes bigger than your resources. Be wise and set yourself up for success by distinguishing between what's necessary and what can wait for another 1 or 2 years.

Learn to prioritize and invest in the things that are needed to create a pleasant work place, as well as a nice experience for your clients, and simply forgo the other things.

Boost profits by bringing in more revenue.

If you don’t

Assess you requirements.

Everyone knows that when travelling you need to bring half as many clothes and twice as much money.

When growing a business, plan for twice as much time, and twice as much money too!

Everything takes longer in the trenches than it appears to in the planning stages. There are also costs you can't pre-empt until you actually start operating (such as license, office rent or payroll).

So, assess all your requirements and put on paper all numbers. You don't want to run out of money in the midst of things.

Neil Petch is chairman of Virtuzone, one of the most dynamic and fastest growing company set-up operators in the region.

As a small business you can’t afford an extra pair of hands, just in case you get more business in.

You need just the right team and the right skills in place

have enough retainer clients, long term contracts or regular sales order in place, your revenue stream is constantly fluctuating, because you need a constant stream of new clients coming in, plus you also lack the time, and possibly the focus, to market yourself.

This sort of business operation is more likely to lead to stress and struggle. What can you do? Try cross-selling products or services that are complementary to what you already offer. Or introduce monthly or yearly service plans, or bundle services that have a discount. This way you can boost the cash flow and get your revenue up. The new operative words in your company should be: selling, marketing, networking and cutting costs.

Even if you're losing money, if you have a clear plan mapped out for this year, and you keep an updated balance sheet, there's always a way out. You can look at ways to cut administrative and operational costs, and use your resourcefulness to improve your bottom line. You can absolutely change things and turn your business profitable.

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Insurance

Awareness about healthcare insurance in UAE Many a times medical insurance is taken on premium criteria keeping the premium to a minimum and the company representative is not aware of important features which are excluded from insurance, thus this article guides you to be insured properly

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ow many times have you actually read the details of your health insurance plan? Have you been in a situation where you choose to visit an upmarket health care facility only to be told that your medical insurance does NOT have that clinic/hospital in its network?

How about a situation where the doctor orders some diagnostic tests and perhaps a surgical procedure and you then discover this is not covered under your medical insurance and you need to pay the full amount or a part and the insurance company picks up the rest.

Many times medical insurance is taken based on the premium criteria keeping the premium to a minimum.

The company representative does not focus on what is NOT going to be available as features are trimmed or excluded.

His Highness Sheikh Mohammad Bin Rashid Al Maktoum, Vice-President and

Prime Minister of the UAE and Ruler of Dubai, approved the Dubai Health Insurance Law No. 11 of 2013 which came into effect on 1 January 2014 (Law).

The Law states for all employers in Dubai to have in place a compliant health insurance cover for their employees. It applies to all participants in the health insurance field including health service providers, insurance companies, insurance brokers, claims administration companies,

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employers, sponsors and beneficiaries.

The law will be implemented in phases the provision of health insurance cover becomes mandatory for: • Companies with more than 1,000 employees, from 31 October 2014; • Companies with 100-999 employees, from 31 July 2015; and • Companies with less than 100 employees, from 30 June 2016.

This Law also provides that dependents of sponsors, including domestic workers, must also be covered for the basic health coverage by 30 June 2016.

The law covers the entire Emirate of Dubai, which include its development areas and free zones so residents of Dubai, nationals and expatriates alike, should be covered. The plans for both nationals and residents will at a minimum cover general practitioner visits, emergency

June - July 2015

Intelligent SME You must provide a basic health coverage with an annual premium anywhere between Dh500-Dh700 treatments, and referrals to specialists as well as surgical, investigative and maternity procedures.

As an employer

You are required to provide health cover for all your staff as per the minimum requirements of the Law which also stipulates that you cannot pass on the cost of the cover to your staff, the Dubai Health Authority (DHA) has made clear that it will treat any attempts to do so seriously.

You must provide a basic health coverage with an annual premium anywhere between Dh500-Dh700 and a maximum insurance cover per person per annum of Dh150,000.

Failure by you to provide an insurance, carries fines of between Dh500 and Dh150,000. Repeated breaches carry a maximum fine of Dh 500,000.

To ensure cover is in place and maintained, the renewal of an employee’s visa will be subject to the employee having valid health insurance.

Dubai’s health insurance regime does not mandate

employers to provide coverage for the dependents of their employees, as making family cover compulsory companies could be biased towards hiring single executives to save costs.

Cover for dependents falls to the sponsor themselves. So where a dependent does not receive cover from an employer, it becomes the responsibility of the sponsor e.g. spouse/parent purchase and maintain the required cover (applicable from July 2016).

Licensing of industry participants

The Law requires all health service providers, insurers, claim administration companies and insurance brokers to have a license under Health Insurance Intermediary Permit (HIIP). Broking Firms must hold this Permit to advice upon, market or sell health insurance in Dubai.

Your Insurance consultant must hold Permitted Health Insurance Representative (PHIR) status to be able to advice upon, market or sell health insurance in Dubai and Abu Dhabi. Licenses are valid and renewable for one-year period issued by Dubai Health Authority

(DHA) or Health Authority Abu Dhabi (HAAD).

Residency and Visa Status

This is essential to comply with the different Health Insurance Laws around the region as there are some differences between Dubai and Abu Dhabi policies.

In Abu Dhabi you have to comply with the Health Authority Abu Dhabi (HAAD). HAAD regulates those who live in Abu Dhabi, work in Abu Dhabi or have an Abu Dhabi visa.

Mandatory Health Insurance

The government schemes (HAAD or DHA) stipulate maximum contribution levels from employees.

Health Authority Abu Dhabi (HAAD) Legislation

There are 3 ways you can find you need Abu Dhabi cover: 1. On an Abu Dhabi Visa 2. Work in Abu Dhabi 3. Abu Dhabi resident

In Dubai you will comply with the Dubai Health Authority (DHA) rules. That is why, in a group

Insurance

A long-time resident of the Gulf, Sandi Saksena has lived in Kuwait, Bahrain and now in Dubai for the last 45 years. Sandi devotes her time and energies to her job in Personal Financial Planning. She is the first and only female sales manager and leads an all-female team of financial counsellors at Nexus Insurance Brokers.

She heads the division ‘Family Matters’ at Echelon Advisors and Management Consultants her family firm. scheme, it is essential to know:  Who the scheme members are  Whose visa they are on  Where they work

Where they are resident

Balancing Cost and Coverage

When choosing a plan, find out how much are the excess, deductible or coinsurance and please go through Table of Benefits that lists which benefits are and are not covered, the overall annual limits and any sub-limits.

Excess

Used more for in-patient treatment where significantly high bills can occur and a decision is made that the first portion of the bill (amount predetermined based on affordability) will be paid by the insured.

Deductible - on a policy is typically a fixed amount of money that the insured pays out of their own pocket on each outpatient visit.

Co-insurance (or Co-Pay)

An uninsured percentage of the costs, that the insured must pay towards the cost of a claim (e.g.20%) the insurer pays the rest of the bill (e.g. 80%).

Group Size

The number of members in a group scheme matters because the numbers determine choice- more members more choices! However each insurer has their own definitions of Small and Medium Sized Enterprises (SMEs) and Big Groups.

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Finance

Which alternative finance solution best fits your business?

The SME sector constitutes 95% of the total companies operating in the Emirate of Dubai. Despite their importance to the growth of economies, SMEs face a number of hurdles when seeking finance. Craig Moore in his article shares the alternative finance solutions that runs the business efficiently.

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t is estimated that more than 95% of businesses across the world are small and medium-sized enterprises (SMEs), accounting for approximately 60% of private sector employment and, on average 52% of private sector value added.

Despite their importance to the growth of economies, SMEs face a number of hurdles when seeking finance. Banks, the traditional provider of loans, are increasingly focused on financing larger companies, meaning that there is a lack of affordable funding options for the SME market.

The International Finance Corporation (IFC) estimates that the current SME funding gap in global emerging markets is more than $2 trillion (approximately $260 billion in MENA).

This considerable funding gap between the demand and supply of capital is driving a critical need for alternative finance solutions to fuel growth in this underserved sector of the economy. Two alternative finance solutions that are rapidly gaining popularity due to their attractive cost, accessibility, and flexibility, are peer-to-peer (P2P) finance and equity crowdfunding. While they are both built on the

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P2P is already a very successful practice in the UK and

US, where Lending Club, the largest player in the industry,

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Intelligent SME

exceeded expectations when it raised more than $865 million in its recent IPO.

power of the crowd, it is important to understand that there are fundamental differences, which suit different types of companies.

Usually any start-up business needs some time to start generating enough income to cover its own expenses and to start making a profit, so typically the business will require finance to cover the daily operation expenses, salaries and bills. Established businesses, on the other hand, require funding for growth, expansion and development of new products or markets. Getting access to finance could help these businesses take the next big step into becoming a larger and more profitable company. The reasons for finance differ between start-ups and established businesses but the need for funding is always there as it is essential for business survival, without proper finance in place businesses will deem to perish.

To determine which is the most suitable type of alternative finance for your business, you need to be very clear about which stage your business is at, the amount of funding required, what the capital will be used for, how long you need the finance for and how soon the funding is needed. Understanding these areas in relation to your finance requirements will ensure you get the right type of funding.

Equity crowdfunding involves selling part of your business shares to investors via a crowdfunding website where your finance request is covered by a number of people who invest small amounts of money in your business, product or idea. The benefit of this is that experienced investors can bring

new skills and opportunities to the business. The downside is that you will end up owning a smaller share of your business and in some cases you may have to consult your investors before making certain management decisions. This type of finance is generally more suitable for start-ups as investors share the business risk and you won’t have to pay any interest or repay the funding.

Peer to peer finance (P2P) is also based on crowdfunding principles as it uses the Internet as a platform to reach hundreds or even thousands of potential investors who invest small amounts of money to finance businesses in return for monthly installments of capital plus interest/profit. P2P uses innovative platform technology which allows it to reduce operating costs and streamline processes to minimise the cost and complexity versus conventional finance routes. P2P provides businesses with access to finance in weeks rather than months at rates lower than conventional lenders and on more flexible terms, that’s why it is the right choice for established creditworthy SMEs looking to finance working capital or expansion. P2P originated around $9 billion of loans globally last year, which is expected to grow to $1 trillion in the next ten years.

P2P is already a very successful practice in the UK and US, where Lending Club, the largest

Usually any startup business needs some time to start generating enough income to cover its own expenses and to start making a profit, so typically the business will require finance to cover the daily operation expenses, salaries and bills.

Finance

Craig Moore – Founder & CEO of Beehive. is responsible for overseeing the overall strategic direction and managing the day-to-day operations of Beehive.

Prior to Beehive, Craig was the Founder & COO of Butterfly Software, a company acquired by IBM in September 2012. He has worked in numerous multinational companies such as Dell, EMC, Hitachi and HSBC with an emphasis on shaping effective go to market and value propositions.

player in the industry, exceeded expectations when it raised more than $865 million in its recent IPO. Lending Club, as well as other P2P providers, has grown rapidly by offering loans and savings products at terms more attractive than traditional banks. Meanwhile, in the UK, the British Business Bank, part of the UK Government, has invested over £200 million in P2P platforms to support further financing to small businesses in the UK.

The introduction of P2P to the MENA region is long overdue and comes at a time when SMEs are facing significant hurdles to access capital, and investors are struggling to find a decent return on their portfolios.

In November 2014, The UAE witnessed the launch of the first P2P finance company in Middle East. Beehive is set to revolutionize the SME finance industry using P2P platform technology. Beehive’s online marketplace directly connects established businesses with smart investors which provides SMEs with access to faster, more flexible and lower cost finance starting from AED 100,000 for up to 3 years, with no early repayment penalties. Investors can set up an account with only AED 1,000, and start investing from as little as AED 100 into each listed business to diversify their risk while earning an average of 13% APR gross as of April 2015

AED 100,000

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Leadership

Tips for

Entrepreneurs-to-be…

Has the idea of being your own boss and calling your own shots ever been a dream? What about having the freedom, the independence, the greater sense of satisfaction, and finally, doing something you really want to do? This article highlights the tips of being a successful Entrepreneur.

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ecoming independent comes at a cost and from our experience it most definitely can be the most fulfilling and exciting experience if given the right consideration.

It’s all about the passion! Let’s say

you decide to create a company that sells homemade candles. You will sleep, eat and dream candles and wax from morning to dawn and sometimes you might even stay up all night thinking about a new concept or discover new scents…. or even make them organic. In the midst of all of this, self-doubt will creep in and tell you that it will not work or that you are not ready to take that step. And so if you are not truly passionate about your business idea, facing those moments of uncertainty might be a lot more challenging. And trust us, these moments do come! So ask yourself, “What gives me drive and keeps my ‘engine’ running?”

Give yourself a chance to explore and look at what truly excites you.

Brainstorm on the different ideas and check whether any of them are linked to that passion.

Pick something you’re good at!

Choose a field where you will

be able to use your innate strengths and talents. Doing so, will not only bring you satisfaction but also will energize you! Also, look at your past successes and think about how you can use them in that specific industry and package it to create your own unique

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service or product.

Invest in your personal development!

The most important and by far the smartest long-term investment you can make is in yourself. So, if you need to acquire a specific skill in order to start your business, do not hesitate to invest in a course, certification or even a book! ‘Give me six hours to chop down a tree, and I will spend the first four hours sharpening the axe’ Lincoln once said. So, always take the necessary time to sharpen that axe!

Don’t be afraid to ask questions to those who have ‘been there, done that’. There are many forums and platform to enable you to do so, whether it’s online or going to networking events, go and find the information you need! And secretly, people love to talk about themselves, so this one should be easy!

We all know the old adage: ‘Failing to plan is planning to fail’ so writing a business plan is crucial, even if it’s only a 1 pager, do it! Putting your thoughts on paper in a structured manner will keep you accountable and help you gain clarity. Building your strategic objectives, action plan, and financial assessments, based on solid customer and competitor research will determine what are the gaps and needs for your product or service (i.e., is anyone really going to buy my candles?). It will give you an in-depth understanding on how you fit in your market and how

to enter it. Moreover, it will enable you to gain focus, assurance and motivation and above all, will establish whether your business is worth venturing in or not.

Ensure you have got your finances straight!

If you are on your own it means that you won’t have a secure income anymore and it will take a minimum of 2-3 years to see your business soar, meaning the frequent trips to the mall and luxury holidays will have to take a back seat.

Manage your finances by having a forecast of both your cash flows

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Leadership

and expenses, not only for your business but also for your personal expenses. Do the math and ensure you leave nothing out. Essentially, you want to pay yourself a salary as soon as possible.

Your network is your net worth!

Grow your network and work the one you already have! Invest in it- see how you can be of service to others and find ways to connect with them. Ensure you attend relevant events and have those business cards ready!

Be ready to face adversity and critics because people won’t always believe that your idea is ‘that’ awesome and might even think you’re wasting your time: ‘Hmmm, candles? Really? Are you sure?’ And although some around you will have your best interests at heart, they might be feeding some of your insecurities in the process. Lend an attentive ear to those who are objective and encouraging! Believe in what you’re doing, be focused

and keep going. Perseverance is the ultimate key to success.

Work hard and don’t forget to play hard. Having your own business means that there is no 9 to 5. You work around the clock and have little time to actually disconnect. This is the reason why it is vital to keep your favorite activities ‘alive’! Whether it’s meeting your friends for dinner, going to the gym or dancing the night away, keep on doing it! It will help you keep a healthy balance.

Setting up any kind of business will require blood sweat and yes, sometimes even tears. The road might be filled with obstacles, and even if you take all the possible steps and precautions, there will be times when you’re still going to feel discouraged and anxious. But, you know what? Believe in yourself and trust your instincts because nothing worth having in this world comes easy. And following ones dream most definitely is!

Salma El Shurafa & Veronique Ademar are partners at The Pathway Project.

Salma is the founder of the company and draws on her 11 years of experience as a Human Resources professional, entrepreneur and executive coach to provide outstanding tailored coaching to professionals who are navigating the dynamics of the global UAE market. Veronique has 12 years of experience as a Human Resources professional and an internal coach. She has held various regional roles such as Recruitment Manager, HR Business Partner and Talent Manager with several Fortune 500 companies in the UAE and Switzerland. veronique@pathwayproject. ae, salma@pathwayproject.ae 59

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Leadership

Drive on!

Lead on!

Much like the new car, owners of business who drive their enterprise are tested everyday on their navigational skills. So what is more important is the fact that they are polishing their crown of glory as the owner or their ability to navigate.

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any can relate to the feeling of elation when they have inked a deal on a new set of wheels, the smell of a new car is intoxicating to the ego, the glow of the new paint oozes into the pores of the owner and they themselves begin to also take on a new special glow beaming with pride as the new commander and chief of their new vehicle.

There is a special posture they adopt at first while driving, especially at a red light when their new car is the first in line, ready to put the pedal to the medal when the light turns green.

Confidence pours through their veins as they consciously pretend that they are not aware of other drivers nearby who may be checking them out in their new car, or glancing over with just a hint of envy.

As the light turns green, the car proud driver pushes forward, sometimes taking advantage of their perceived lead in the traffic or sometimes at a slower pace as if they are rehearsing a victory lap at the Olympics. They are in charge.

As the car speeds along in full regalia they remind themselves that they are the master, totally in control of the moment.

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That is, until they approach the next set of lights and realize they are now in an unfamiliar part of town, within an abrupt forest of signage urging them to get into the right lane or the left one with no alternative. The GPS system blinks on and off and then just shuts down, and as they remember the battery charger to their own personal phone is at the office.

Immediately the adrenaline of fear shoots through their body as they realize that while the euphoria of being the King of the road the past twenty minutes has been amazing, they are now lost and have to make a decision that will impact their ability to be on time for their next appointment.

Their swift reactions keep them from being struck by a massive 18 wheeler as they seek safe harbor behind the lane riddled with a thousand other cars.

It’s too late to navigate to the other side of the highway to avoid the bottleneck, the empty feeling of being lost and helpless overtake the feeling of elation they were high on moments before.

Much like the new car, owners of business who drive their enterprise are tested everyday on their navigational skills. So what is more important, the fact that they

are polishing their crown of glory as the owner or their ability to navigate.

Just as there are too many show offs on the road and not enough good drivers, there are more Crown wearing bosses and not enough leaders who know where they are going.

So how can bosses become good leaders, and how can they transfer their new skills to their business?

First of all, its not possible for all bosses to be good leaders if they think they are already a good leader because it says so on their business card.

To become a great leader, it takes more than just a will to a better leader, it firstly takes keen vision to understand the important journey ahead.

Imagining the road ahead is an important step, but without the passion of really wanting and desiring to get there for a big

June - July 2015

Intelligent SME

enough reason, it’s a childish wish.

Planning the journey ahead of time is a big step in pre-correcting mistakes in navigation before hand, to avoid taking dead end roads that often lead to lost time, lost resources and put them at risk of running out of gas.

After the plan has been understood, pooling the resources that will be required is paramount to having any chance of entering the winners circle.

If they have a business that will rely on employees keep the vehicle running smooth, they had better trade their whip for refreshments and rewards if they do not wish to keep stopping along they way to replace a member of the team who did not appreciate being bossed around.

No one likes being bossed around, anywhere, ever. Are you a boss that wears the badge of look at me I am in charge, or the one that people would gladly follow because they know you care and will care for their welfare?

As the driver of the corporation, good leaders realize who they are taking along for the ride, their passengers. These stakeholders such as suppliers, customers, employees and investors all have entrusted their futures into the hands of the person behind the wheel. Does that mean that you might want to fire the boss?

If altering your leadership style means trading inspiration for

humiliation it might just get you a lot more votes as the leader.

Simply wearing the crown of ownership is not enough anymore, people need to feel that you know where you are now, know where you are going, have studied the road ahead and seen the obstacles including the valleys and the steep hills you will be required to overcome.

They need to feel that while you are sitting in the drivers seat that you have their interests at heart and will be a responsible caretaker of their trust that they are investing into your company everyday.

One of the most important elements in a GPS map used in navigating the road ahead is : “ Where are you now? “

This realization will help any leader course correct if they have the courage and humility to be ready to take responsibility for their journey including admitting taking a wrong turn sometimes.

Leaders are given the choice everyday to understand where they are now, whether it be their position in the traffic or in the boardroom.

Companies that have taken the time to audit the leadership skills of their team and have gone a step further to develop them will often surpass the ranks of the competitors. In study after study, organizations that grow their Leadership IQ and EQ stand a very good chance of being at

the pole position of their industry represented in the top 20% amongst their peers.

While it is true that some people seem to have a natural flair for leadership, a flair is not an eternal lamp. Good Leadership can be developed and good habits can replace the show off boss mentality for a great leader with vision, empathy and passion who has invested in their Leadership Compass for the future successes of their team.

Before you take off, glance into the rear view mirror to see the where you have been, but more importantly take a moment to know where you are and from there plot a brave new course to get your business going forward.

Michael Tolan heads World Class Group as the CEO, a company that provides organizational development for human capital within companies, governmental organizations, NGO’s. He conducts Motivational and Leadership programs for enterprises with his signature events such as Mission I’ M Possible, Kung Fu Communication and is a leading authority on DSP for enterprise.

No one likes being bossed around, anywhere, ever

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June - July 2015

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Digital Marketing

CEOs in the Middle East trend on Twitter Year after year, Technology is seen to be changing people’s lives for the better. As a result of its progression, Twitter, the global platform for public self-expression and conversation in real time, encourages CEOs to take their thoughts and opinions to Twitter in order to enhance their audience engagement. Twitter shares its opinions regarding the importance of connecting with the public through social media platforms.

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June - July 2015

Many executives have joined social media platforms, a good 14% of the world’s CEOs are using Twitter

W

ith the advancement of technology, more and more CEOs are joining social media platforms, specifically Twitter, in order to engage with the people and to keep them posted with the latest news from their company. High profile individuals have now realized the importance of keeping the public in the loop of what’s going on and communicating with them accordingly.

Although not many executives have joined social media platforms, a good 14% of the world’s CEOs are using Twitter as a mean for communication, according to a recent Financial Times article. The Middle East is one of the regions where CEOs are increasingly boosting their presence on social media platforms, particularly Twitter, as they look to connect with the public has on the way the company is perceived.

In the UAE for example, C-level executives from various industries including communications, retail and finance have taken to Twitter to share their thoughts.

One of the most popular is serial entrepreneur Saygin Yalcin (@SayginYalcin), founder and CEO of SellAnyCar.com (@SellAnyCar) and partner at Souq.com (@Souq) among others. Tweeting about a variety of topics from events he attends to his magazine interviews, Saygin has built up an impressive following of 325K followers, most

of them young UAE professionals to whom his businesses cater.

Most CEOs tend to share news on their Twitter feeds , but as CEO of NBS TV, Suhail Al Abdool (@s_alabdool) has an inside view of the latest stories happening around the region. Not only does Suhail share constant updates; he also actively engages with his 19.5K followers, commonly Retweeting their responses and opinions.

As Twitter’s popularity continues to grow across the Middle East, CEOs in the UAE are becoming increasingly involved and taking to the platform to connect with various stakeholders.

Intelligent SME

Digital Marketing

For those interested in the latest digital and marketing stories, Yousef Tuqan (@ youseftuqan), the CIO of Leo Burnett MENA, is the man to go to. . A popular member of UAE’s media community, Tuqan is a prolific Tweeter, sharing various industry insights and personal opinions on just about anything.

Even in traditional industries such as finance, Twitter is turning into a key platform for executives to demonstrate their thought leadership. Dr. Mahmoud Abdalaal (@052mahmoud), the CEO of Aafaq Islamic Finance, is a case in point, Tweeting about the finance industry and updates from the company.

Not only do CEOs Tweet about company news and the industry they work on, but some also tap on their personal lives and Tweet about their favorite sports team or other interests.

For example, Ashish Panjabi (@apanjabi), the COO of consumer electronics retail giant Jacky’s Electronics uses Twitter as a sounding board to connect with his followers, discussing everything from latest technology news to his love for 3D printing, in addition to sharing company updates.

Another interesting figure is Shaima Al Zarooni (@ShaimaAlZarooni), CEO of International Humanitarian City in Dubai. Tweeting almost exclusively in Arabic, Shaima actively shares images and clippings from events, media engagements, or even her visits to various countries as a part of her job role.

As Twitter’s popularity continues to grow across the Middle East, CEOs in the UAE are becoming increasingly involved and taking to the platform to connect with various stakeholders.

The following months might provide yet more insight as more of these minds behind the success of great companies share their views of industries, interests and beyond.

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Small and Medium Enterprises’ contribution to the business community in the Middle East is growing exponentially with constant support from the UAE government. Since there are numerous small and medium businesses that form the entire SME sector, ​I​ntelligent SME (SPI Group) believes that there is a significant need to recognize and highlight these businesses to help them distinguish their brand, create visibility and provide various opportunities to generate leads and grow their business. Hence to enable our vision we have created the SME ​​ Business Builder - a business development & brand building initiative for SME service providers.

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