Boards need to think one step ahead
dubai — Modern day corporate boardrooms require a holistic perspective to ensure an interdisciplinary and inclusive approach to excellence, innovation and entrepreneurship, business stalwarts and thought leaders said on Tuesday.
Dwelling on the topic ‘Boards to lead business excellence: staying ahead of the curve’, at the Dubai Global Convention of the Institute of Directors, business leaders examined what represented excellence and what factors boards should consider.
Panellists, including Dr B.R. Shetty, founder chairman, BRS Ventures, NMC Healthcare, and chairman, UAE Exchange & Travelex; Dr Azad Moopen, chairman and managing director — Aster DM Healthcare, debated on what questions should directors ask, what should the criteria for decisions be and what guidance do people need to establish priorities and handle trade-offs.
The speakers’ panel also included Mishal Hamed Kanoo, chairman, The Kanoo Group; Essa Abdulla Al Ghurair, chairman, Essa Al Ghurair Investment; Marwan Jassim Al Sarkal,
Directors should anticipate changes and prepare their team to embrace them Dr Azad Moopen, Chairman and managing director — Aster DM Healthcare
CEO, Shurooq; and Kishor Kharat, managing director and CEO, Indian Bank.
Speakers were unanimous in their views that directors should focus upon the best long-term interests of a company. They felt that directors’ perspective should be holistic, covering an organisation as a whole, the totality of its operations and its relationships with stakeholders.
Recounting how he built up his business empire from scratch, Shetty said the excellent opportunities for growth and entrepreneurship offered by the UAE helped him achieve his dream.
Dr Moopen said boardrooms should move ahead of the times. “Directors should anticipate changes and prepare their team to embrace them.”
“As leaders, it is our responsibility to direct our boards to stay ahead of the curve through adoption of technology and innovative measures that can cater to the evolving environments in which our businesses function today,” said Dr Moopen.
“We are glad that India and the UAE’s strategic ties have evolved and grown deeper to benefit our people and our governments. I believe in the ‘power of now’. At Aster DM Healthcare, we are glad to be in the right place at the right time and with the right support to turn the vision of world-class healthcare locally available into a reality,” Dr Moopen said on the sidelines of the discussions.
Kanoo and Al Ghurair spoke on the thriving trade and economic ties between the UAE and India over centuries. They stressed the growing importance and interdependence of both countries on bilateral cooperation and trade.