Dunia Finance, a leading UAE-based finance company concluded a successful three-week young business leaders programme (June 30 to July 18) that gave promising Dubai teenagers from senior school and university a chance at leadership and honing of entrepreneurial skills.
The programme invited industry leaders and real-life practitioners to give students a real feel of the business world, walking them through their own experiences and decisions.
What the programme did: Provided young leaders the know-how on establishing, growing and leading their own enterprise; also developing key business skills such as identifying and capitalising on new opportunities; learning how to allocate resources effectively; working as a professional team; and understanding the importance of corporate social responsibility.
Commenting on the relevance of the programme, Rajeev Kakar, CEO of Dunia Finance, said: “As the UAE looks to increasingly diversify its economy, a key national objective is to focus on talent development programmes. Initiatives like the Dunia Young Business Leaders’ Programme will help provide the early platform to expose our youth in their formative years, so that they can prepare and equip themselves to be the business leaders of tomorrow.
Five students who participated in the programme shared their learning experience with Education:
Leanne Monteiro, 17
Grade 12 student at Our Own English School, Dubai
Why did you want to join?
I found the programme very inspiring as it held out the promise of bringing out leadership qualities. I wanted to be a part of it as it could help me become an inspiring leader of tomorrow.
The experience:
The programme was excellent because it was more practical - we went through the entire process of setting up a business. It was interactive, the activities were real, and speakers very motivating.
The high point:
The most interesting part of the programme was meeting the guest speakers who shared their success stories with us. Meeting the successful entrepreneurs of today, engaging with them and experiencing their passion was very inspiring. It made me believe I could be amongst them some day.
Most challenging aspect:
To put together a good business plan in a short period of time.
Important lessons learnt:
Teamwork- to achieve excellence one cannot work in solo
Time management
Ideas generation.
One word to describe it.
Fantastic
Your business plan
I’d like to launch a day-care centre business and offering franchises to others.
Blueprint for success
If I have the passion and the dream to set up my own business I would go through any extent to set it up and make it successful. Timings do not matter when there is a goal in mind. Willpower, dedication and perseverance will help me realise my dream and get closer to my goals.
How much of a risk taker are you?
This program has taught me to consider the risk in all aspects before making a decision.
The most important thing - idea, strategy, the investment or the dream?
The dream/passion is the most important thing about business. It is what keeps a person focussed with their eyes set towards the end goal. Passion is the driver towards success.
Your hero in the business world
Walt Disney. He has inspired me to do what I love, take what I do seriously, to do it for others, to never settle with my first success and to not let obstacles stop me from achieving my goals.
Aashish Mathew, 17
Year 13 at Dubai International Academy.
Why did you want to join this programme?
I wanted to gain a better understanding of the professional workplace and roles of leaders in the business world.
The experience:
The program was very intensive and knowledge-based. We interacted with a lot of professionals. This gave us insights into the real world. The learning was not just theoretical but practical. Also practical implementation of ideas made it very exciting.
The high point:
The main task of creating a new business and implementing the learning from the sessions because it tests our ability to understand what we are essentially being taught
Most challenging aspect:
Its fast-paced structure that created added pressure.
Important lessons you learnt?
Team work,
Collaboration
Effective communication
And the conviction passion is one of the key elements to a successful business.
In one word, your experience in the program so far:
Challenging.
Your busines plan:
I intend to get a job
Blueprint for your own business:
I would like to work hard, gain substantial experience and work my way up the corporate ladder in a job I am happy with.
How much of a risk-taker are you?
I would like to think I am a logical risk-taker.
What is most important – strategy and idea, investment or the dream/passion for it?
I feel the passion behind any dream is what helps one endure the failures and inspire a person to still keep moving ahead. It gives you the extra push needed to achieve your goals.
Your hero in the business world:
Richard Branson. Because of how successful he is and his character. He is open to new ideas and is a risk taker. He caters to a broad spectrum to audience and industries.
Izaan Khan, 16
Grade 10 student at the Indian High School, Dubai.
Why did you want to join this program?
I wanted to augment my knowledge of business affairs and processes.
The experience:
This has been a very intense but enjoyable program. It allowed us to interact and express ourselves in a freer environment. The content of the program is brilliant. It feels good to be a part of a program that is fresh and new.
The high point:
The part when we travelled to the cultural centre of understanding was interesting, because I came to know more about the UAE culture that I live in every day.
Most challenging aspect:
Designing a financial plan was particularly difficult. However, with the guidance of our mentor we overcame this challenge.
Important lessons you learnt:
The importance of building relationships (PR).
Strategising to solve problems in complex environments.
Comprehending the intricacies of the financial workings of a business.
In one word, your experience in the program?
Enriching.
Your business plan:
I don’t have any now.
Blueprint for you own business:
I would like to establish a law firm specializing in international business law, financial regulation and competition law. The program enabled me to understand the basic foundation of starting a business. I plan to establish myself for a few years in my job, and then take a sabbatical and start up my own business. I would first like to work so that I am well established both in terms of experience and financial stability.
How much of a risk-taker are you?
I like to take risks, sometimes excessively, but I always try to make calculated decisions and not go by gut instinct.
What is most important – strategy and idea, investment or the dream/passion for it?
It’s the passion. If it drives you, then pursue it. Everything else comes later.
Your business hero
Bill Gates. I look up to him because he is an honest entrepreneur, who had brilliant ideas and seized opportunities as they came his way.
Henry Charles Grenville, 19
first-year management student at the Heriot Watt University, Dubai.
Why did you want to join this programme?
It sounded like a great and productive way to spend three weeks of summer. I wanted a programme that was focussed and will help me develop and enhance my leadership skills further.
The experience:
It was a really good experience because we got to hear from real entrepreneurs. The programme was inspiring and interactive. We got the opportunity to meet entrepreneurs and get hands-on experience in real-life situations.
Most interesting part of the programme?
Meeting CEO’s and entrepreneurs who stepped outside the box and dared to persevere even when others thought it impossible.
Most challenging aspect
Learning to work as a team since I have always worked alone in the past. Adapting to a group, being sensitive to others’ ideas and cooperating with various team members was a challenge.
Important lessons you learnt?
Take advice from those who have already done it.
Be honest in business.
Keep integrity central.
In one word, your experience in the program so far:
Motivational
Your business plan:
Online trading in bicycles which I intend to expand to scooters. I am already working on a new business.
Blueprint for your business:
This program has helped me streamline my business ideas and focus on what I would like to achieve in the near future. On the first day of this course I started selling bicycles from Dragon Mart on a popular online website and I ordered 2 one-wheel self-balancing scooters which I plan to import on a larger scale and sell.
Within a week I had made a profit of Dh 5,000 selling bikes which was enough to pay for the scooters. I sent it to China via western union to pay for and order the scooters and they arrived recently. I plan to sell one along with a load more bicycles and then import 5-10 pieces and start selling them online and iwantone.ae which is a website I am working on. I generally do not work by a time schedule but work for as long as needed per day. Sometimes I work until 11pm on my current project which involves driving all over the place delivering bikes from my supplier to customers.
How much of a risk-taker are you?
I am a very big risk taker. My risk assessment skills are good but occasionally, I make mistakes. Luckily, I learn from them and always find a way out.
What is the most important – strategy and idea, investment or the dream/passion for it?
During my time in the Dunia young business leaders program, I have learned that the MOST important thing about business is integrity. Without integrity, a business is nothing and an individual without integrity is no better.
Your business hero:
One entrepreneur I have discovered recently is Rajeev Kakar. What impressed me the most is the way he persevered in his quest to setup Dunia despite the economic situation and the discouragement he faced because of the situation at the time.
Ridhima Sanghvi, 18
first-year BSc in Accounting and Finance, University of Warwick.
Why did you want to join this programme?
Because it is relevant to what I am studying, and will give me a head start compared to my peers in the business world. I preferred being a part of the Dunia Young Leaders Program more than doing a regular internship as this program was specially designed for people like me and was definitely better structured and focussed.
The experience:
It is a comprehensive program which has given me a lot. It has taught me some of the skills required in the business world, and has allowed to me to look beyond the business world. Although it has been intensive, I have truly enjoyed every bit of it.
Most interesting part of the programme:
Applying the skills and lessons we learnt from the various external speakers to our business plan, and connecting all the dots to make a successful business plan.
Most challenging part of the programme:
Working in a team and getting everyone to agree on ideas on the various tasks that we were given. In other words, adapting to a “group culture” which I wasn’t used to.
Important lessons you learnt?
I’ve learnt the essential elements that go into making a business plan.
That it is not always easy to work in a team, and that compromises need to be made.
I’ve realised that with passion and the right attitude, one can be a successful entrepreneur.
In one word, describe your experience in the programme.
Inspiring.
Your own business plan:
I have none right now
Blueprint for your own business:
Business is all about working hard with determination and zeal. It’s about keeping calm when things are not going as planned. A 9-5 schedule is viewed as obligatory work. If I do end up building my own business, I would make sure it is something I love to do, because then it wouldn’t feel like work per se, rather something that I genuinely want to do. This way, I wouldn’t mind working day and night to make my business a success.
How much of a risk taker are you?
I am a cautious person. I evaluate risks well before taking a decision. However, if there is something I am really interested in, I can cross the line and take a risk.
What is the most important – strategy and idea, investment or the dream/passion?
All of them are important for a successful business, but I believe that the passion element is critical- perhaps, a little above the other two elements. This is because the other elements may fail time and again, but they can always be corrected with the passion of the entrepreneur.
Your business hero
The story of Patricia Narayan, winner of this year’s ‘FICCI Woman Entrepreneur of the Year’ award is amazing, and truly inspiring. She started a huge chain of restaurants, with just a burning passion and belief in herself and her product.
