Dubai / Emirates Business
As a proactive step to enhance the contributions of the business sector to overall development, the Dubai Airport Freezone Authority (DAFZA) recently developed a new and unique model of corporate governance based primarily on spreading the concept of ‘Corporate National Responsibility’ (CNR), a more comprehensive version of the ‘Corporate Social Responsibility’ (CSR) paradigm.
The new model provides institutions with solid ground to establish a leading commitment to strengthening the national identity based on international standards set forth by ISO 26000 related to social responsibility. It includes foundations for promoting distinctive individual behaviours, ethics and corporate concepts which uphold the national spirit.
DAFZA is now preparing to offer this innovative model to local, regional and global governmental and private institutions, with an aim to promote the adoption of national responsibility as an integral part of the corporate culture.
The model is designed to include six main pillars in line with the ‘corporate governance system’ and enables organisations to play their role and fulfil their commitments to the country. It includes policies and strategies covering corporate social responsibility, system for corporate ethics and financial and human resources management, and strategic planning.
The first pillar is the employees and their role in enhancing security, safety and preservation of the environment as well as institutional resources, along with the extent of their institutional loyalty and positive behaviours. The second pillar is related to suppliers and their participation in the community.
The third and fourth pillars deal with the concept of sustainability and strategy respectively while the fifth pillar highlights the role of strategic partners in the promotion of national identity. The sixth and most important pillar relates to customers as it measures their participation in national events as well as their level of commitment to corporate values that help create an honourable image of the UAE.
The CNR model reflects DAFZA’s commitment to innovation as anintegral feature of corporate culture and daily practices in the framework of regular operations, in line with the directives of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, who stated during World Government Summit 2016 that ‘competition in innovation is the highest form of competition.’ The Freezone adopts an integrated portfolio of innovative initiatives.