Benchmark to boost business
UAE aims to learn from international businesses to promote and encourage best practice.
The Dubai Quality Group (DQC) has called on businesses in the region to adapt best practice and start sharing information to enhance business performance.
But in a region where many businesses are cautious of giving away too many trade secrets, information sharing is limited.
"Usually, organisations are apprehensive to share their information out of fear that competitors will adapt their business strategies and enhance their market share," said Hajir Hussain Al Eisa, quality consultant, DQG.
Al Eisa's statement comes after the recent announcement that some of the DQG's members travelled to the UK last month on a benchmarking exercise, to meet two EFQM award-winning companies.
"This exercise partly fulfils DQG's mission of promoting business excellence in the UAE, as it exposes our organisations to new methods, ideas and applications to streamline their effectiveness and boost competitiveness," said Marwan Al Sawaleh, chairman, DQG.
There are many benefits to information sharing and Al Eisa is eager for the region to recognise and embrace them.
"Benchmarking can provide the customer with high quality or added value of products and services, while cutting costs and providing an efficient manner of service with minimum effort and time," he explained.
It can also present companies with useful information on market position, strengths and development areas.
By sending some of its member to the UK, Al Sawaleh hopes the delegation will learn from and compare best practices of world-renowned organisations.
"We hope that this ongoing search for best management practices will create multi-layered results of boosting the competitiveness of our members, while also nurturing a more sustainable economy built on best practices in the UAE and in the Arab world," he concluded.
DQG is a non-profit organisation committed to improving the performance level of UAE based businesses.