Business education vital in preventing future financial crisis

Dubai: The role of business schools in preparing students capable of building a sustainable MENA region and preventing a future financial crisis was discussed during a conference held in Dubai on Sunday.

The Third Principals for Responsible Management Education (PRME) MENA Regional Conference discussed whether business schools can offer a road map to a sustainable MENA region and how this can be done.

The event was organised by the University of Dubai and the Dubai Chamber of Commerce and Industry and was held under the patronage of Abdul Rahman Saif Al Ghurair, chairman of Dubai Chamber of Commerce and Industry.

Speaking to Gulf News, Eisa Bastaki, President of the University of Dubai, said that the conference aims to discuss tools that can empower future businessmen.

“it all started in 2007 when the world economic crisis first started. We realised that there were missing aspects in the curriculums taught in universities and that universities should embed content in their curriculums that would help students in building a sustainable economy.”

During the conference, Bastaki addressed the topic of “leadership and innovation” using the six principles of PRME, which are purpose, values, method, research, partnership and dialogue, to integrate sustainability in the economy.

“Right now our objective should be finding sustainable resources other than oil because it is not here forever; we need to plan for the future to have a sustainable economy for the generations to come.”

Hesham Abdullah Al Shirawi, Chairman of Economic Zones World and Vice-Chairman of Dubai Chamber of Commerce and Industry, spoke about supporting the development of business education through the future generations.

“An essential part of this is educating the young people of today so that they can build a legacy for generations to come. As representatives of Dubai’s private sector we are seeking to increase corporate social responsibility and sustainability among the business community,” he said.