Why tolerance is a board duty
The visionary leaders of the UAE exemplify how transformative leadership can foster innovation and excellence, Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance, said.
dubai — The visionary leaders of the UAE exemplify how transformative leadership can foster creativity, innovation and business excellence, Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance, said on Tuesday.
In his keynote address at the Dubai Global Convention organised by the Institute of Directors, Sheikh Nahyan said in the UAE, the momentum towards being a tolerant, peaceful and prosperous society has quickened under the leadership of His Highness the President, Sheikh Khalifa bin Zayed Al Nahyan, with the formidable support of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.
“They are transformative leaders who recognise the potential of our greatly diversified demography and the obligation to respect human rights for all and to provide opportunities for dignified living for all who live on our lands,” the Minister for Tolerance said.
He said the conference theme, ‘Transformative leadership for fostering creativity, innovation, and business excellence’, would have attracted the attention of the nation’s founder, the late Sheikh Zayed bin Sultan Al Nahyan. “If we are seeking an example of transformative leadership, we need not look beyond Sheikh Zayed. When he united the Emirates as a nation in 1971, we were what the business community now calls ‘a startup.’ Sheikh Zayed knew that to succeed, we had to create, innovate and achieve excellence across the board,” said Sheikh Nahyan.
Sheikh Nahyan noted that the promotion and pursuit of tolerance as exhibited by Sheikh Zayed is an important board responsibility. “In the UAE, tolerance is not
When corporations approach their stakeholder relationships with tolerance, good things happen Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance
simply enduring the existence of opinions or behaviours that do not concur with your own. It is about recognising, respecting and embracing diversity.”
While for individuals, an ethos of tolerance has the potential to enhance personal creativity, innovation and excellence, for corporations, tolerance has analogous benefits, he said.
“When corporations approach their stakeholder relationships with tolerance, good things happen. The emphasis on concern for the welfare of others ensures that mutually beneficial relationships are established. Sustainability of both the relationship and the underlying business processes and products improves, as you consider the economic, environmental and political perspectives of all stakeholders. The willingness to compromise on short-term profitability in exchange for longer-term profits and benefits to the global society is a mark of corporate tolerance,” the minister said.
Sheikh Nahyan said given the importance of short-term profitability to corporate senior management, it will take strong transformative leadership from boards to motivate them to incorporate tolerance into their thinking and their decision-making processes.
“It is up to you to shape your management reward systems to encourage this type of socially beneficial behaviour. It is my personal belief, that over the long term, this type of behaviour produces even greater benefits, including profits, for every stakeholder. Only you, as board members, can lead this type of change,” he said.