Sharjah: Instilling the culture of risk-taking among youth is key to economic growth, said Shaikha Budoor Bint Sultan Al Qasimi, Chairperson of Sharjah Investment and Development Authority, during the launch of a new research centre.
The University of Cambridge Judge Business School launched the Middle East Leadership Research Centre at the American university of Sharjah on Wednesday.
The Middle East Leadership Research Centre will be dedicated to researching the business environment and the particular leadership challenges and opportunities facing Middle Eastern organisations.
His Highness Dr Shaikh Sultan Bin Mohammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, attended the launch, which also featured a discussion panel by some of the Gulf world’s renowned businessmen.
Professor Christoph Loch, Dean of the University of Cambridge Judge Business School, said the research centre will be available online and will be open to companies in the private and public sector.
“There will be a number of topics related to the Middle East. The topics will evolve depending on the demand of the organisations who are interested in engaging with us. Companies can come with problems and the research centre will look for solutions,” he said.
Loch said the company is already working on projects that include Islamic finance, service innovation in Emirates airline and operations in Qatar airport. He said the faculty and PHD students of the university will be involved in conducting the research.
Speaking about the research centre, Badr Jafar, CEO of Crescent Enterprise and Chair of the University of Cambridge Judge Business School Alumni Advisory Council, said: “I think it is increasingly recognised that the value of locally and regionally developed research is important to enable us to develop the ecosystem, which is critical in building businesses and encouraging entrepreneurship.”
During the panel discussion titled ‘Challenges and opportunities for growth and diversification of businesses in the Middle East’, Shaikha Budoor said we must focus on the human factor.
“The Middle East is experiencing an unprecedented youth growth; we need to instil in this generation the culture of possibility thinking. If given the right opportunities they can challenge the traditional ways and excel in the business world.”
Shaikha Budoor said risk taking and taking action are key characteristics of a good entrepreneur.
Khalid Al Falih, the President and CEO of Saudi Aramco, spoke about the challenges that the Gulf faces, which include Gulf countries being dependent on oil and gas.
