< Previous10 C EO M I D D L E E A S T MAR C H 2 0 21 BUSINESS | STARTAD o quote the first woman to win a Nobel Prize, Marie Curie, ‘The way of progress was neither swift nor easy’. While this extract aptly summarises the collective struggle of female scientists to achieve recognition in their field, there can be no doubt that progress has certainly been made in the pursuit of gender equality. According to the World Economic Forum’s 2020 Global Gender Gap Re- port, the UAE has essentially reached equality between men and women in educational attainment. Official figures show that 95 percent of female high school graduates go on to pursue higher education (compared with 80 percent of the male students). Women constitute 71.6 percent of college graduates in the country. This approach has benefited the nation’s economy as well as our socie- ty. Female business owners account for 10 percent of the total private sector. Female business owners constitute 15 percent of the members of the boards of directors of the chambers of com- merce and industry. Women occupy 51 percent of public sector jobs – one of the highest proportions world- wide, including 30 percent of senior leadership positions associated with decision-making roles. Women occupy 75 percent of positions in the educa- tion and health sectors. Importantly, the government’s ongoing quest to turn the UAE into a thriving knowledge-based economy means there is a deep commitment to developing a STEM-ready workforce to prepare the next generation to excel in the digital age – which is vital to the future of technology-led start-ups. Innovation is a central pillar of the UAE’s plans to build a highly competitive economy, and there is an abundance of research and evidence to demonstrate that diversity is highly conducive to innovation. A 2019 report T FEMALE ENTREPRENEURS ARE CRUCIAL TO THE NATION’S INNOVATION GOALS HANA BARAKAT, ASSOCIATE DIRECTOR AT STARTAD, IS ADAMANT THAT IN ORDER TO HARNESS ITS FULL POTENTIAL, A SOCIETY MUST ENSURE GREATER GENDER PARITY IN THE WORKFORCEMAR C H 2 0 21 CEO MIDDLE E A ST 11 by McKinsey & Company revealed that companies in the top quartile for gen- der diversity on executive teams were 25 percent more likely to have above average profitability than companies in the fourth quartile. Encouraging entrepreneurs And yet whilst the number of women pursuing careers in STEM in the UAE is on the rise, this trend is, unfortu- nately, not reflected in the start-up sphere. According to a 2019 report by Arabnet, in partnership with The Mohammed Bin Rashid Establish- ment for SME Development (Dubai SME), just 14 percent of regional investments in start-ups across the MENA region 2018 were with start- ups founded by women. An overwhelmingly male-dominat- ed investment landscape is just one of the reasons why female-led start- ups may receive less funding. There are, of course, several ways to tackle this issue; an obvious one being that more women must be included in the investment decision-making process. However, it is equally important to understand how, as a society, we can encourage women who want an inde- pendent path to pursue being a job creator rather than a job holder. Progress can, and should, never fall on the shoulders of just a few en- titles. Rather, as a business commu- nity we must work together to bring female entrepreneurs and investors together; and this must form part of a shared vision, for it is the entire society that will reap the benefits of female empowerment. One notable example is the Academy for Women Entrepreneurs (AWE) – an initiative organised by the US Embassy Abu Dhabi, in partner- ship with startAD, an Abu Dhabi- based global accelerator at NYU Abu Dhabi and powered by Tamkeen. The four-month intensive program, which concludes on International Women’s Day (March 8), empowers women worldwide to fulfil their economic potential, and in doing so, create the conditions required for increased stability, security and prosperity for all. The initiative provides women- owned businesses in the UAE with the training, connections and mentorship to reset their path to profitability, and with a view to survive, thrive, and grow in new market conditions. Profitability is an important point in the context of female entrepreneur- ship. Existing information demon- strates that women-owned small and medium enterprises globally tend to be concentrated in overall low-profita- bility or low-growth sectors. There are several reasons that could explain this trend – an ability to source the neces- sary financing for more ‘risky’ and high-return ventures being one. And yet, there is evidence to suggest that startups founded and co- founded by women perform better over time. A 2018 report by MassChallenge and Boston Consulting Group of 350 startups revealed that those founded and cofounded by women generated 10 percent more in cumulative revenue over a five-year-period than the busi- nesses set up by men. Thus, if inves- tors want to generate the best possible returns, it is vital that they invest in male and female founded companies alike: in this sense, diversity really is the key to success. The road ahead A two-pronged approach is required to increase the number of female entrepreneurs in the UAE, and the region. Firstly, there must be a drive to raise awareness amongst the inves- tor community about the importance of diversity in the entrepreneurial sphere. Innovation is key to the UAE’s continued success as the most innovative nation in the Arab world; and, diversity, of talent, perspective, skills and approach is a key driver of innovation. Secondly, female entrepreneurs must be afforded the support, train- ing, connections and funding that they need to develop and scale their ventures, and this cannot be led by an individual entity or initiative. As a business community, we have an important responsibility to reimagine the current startup landscape. The UAE has successfully shifted the previously held, global belief that women are less inclined to excel in STEM subjects than men; the revela- tion that 77 percent of students taking computer science classes in the Emir- ates are female clearly refutes this no- tion. Now, the onus is on the business community to come together to ensure that female representation exists in every possible aspect of the innovation value chain. One thing is for sure, our entire society will undoubtedly profit from such an achievement. Progress is rarely swift nor easy; whilst the UAE has been steadfast in driving change, the business community must now commit to doing all it possibly can to support female entrepreneurs and their innovations. “THE BUSINESS COMMUNITY MUST DO ALL IT POSSIBLY CAN TO SUPPORT FEMALE ENTREPRENEURS AND THEIR INNOVATIONS.”12 C EO M I D D L E E A S T MAR C H 2 0 21 BUSINESS | PMI new generation of women is stepping into the leadership role in the MENA region and is leading the Project Econ- omy. More executive level women are now working on complex megapro- jects usually within male-dominated industries and have reached posi- tions of influence in business, poli- tics, civil society, academia and the media. Regionally and around the globe, more organisations are elevat- ing women to executive positions to participate at the decision-making level. As a result of their success, they have not only been able to impact the industries in which they work, but have also had an important impact on the project management profession as a whole. Women leaders are recognising the importance of qualifications to close the skill gaps, and are help- ing in securing the budgets needed to allow professional development and talent building through skilling, up-skilling and training academies. Unlike recent years where emphasis was placed on mainly technical skills, women leaders are reinforcing the adoption of what, at PMI we call the “Power Skills”, which are deemed critical in making projects succeed and deliver value. These are the most in-demand leadership skills and capabilities that the World Economic Forum says will be critical in the next several years, which include emotional intel- ligence, strategic thinking, empa- thy, agility, problem solving, active listenting, adaptability, resilience and the ability to care and inspire. Various studies have even proven that women’s emotional intelligence and empathy supersedes that of men, as they exhibit strong interper- sonal skills, especially on complex projects; apply a systems-thinking view paired with empathy on critical projects. Women are methodology A LEADERSHIP AND PROJECT MANAGEMENT: WOMEN’S ROLE AS CHANGE MAKERS GRACE NAJJAR, MANAGING DIRECTOR, MENA, PMI, SHARES INSIGHTS ON LEADERSHIP MINDSET AND PROJECT MANAGEMENT SKILLS WITH A FOCUS ON THE CHALLENGES FACING WOMEN PRACTITIONERSMAR C H 2 0 21 CEO MIDDLE E A ST 13 agnostic, embracing various ‘ways of working’, such as Agile, and their patience and determination drive the delivery of projects sustainably to the finishing line. Having said that, women leaders are now approaching organisations like PMI to help them influence the changes and transfor- mations needed, which falls in align- ment with our PMI 4.0 new strategy. Effective leadership and project managers go hand in hand, and are uniquely positioned and needed by the hour to make such changes in a world undergoing dramatic shifts. Therefore, it is now a great op- portunity for women to consider project management as a rewarding professional career, especially that following the pandemic, women have been disproportionately impacted in terms of their workforce par- ticipation. Further research from McKinsey – as seen in their Women in the Workplace 2020, report that today more than one in four women are contemplating downsizing their careers or departing the workplace altogether. Women currently constitute an estimated 20 – 30 percent of the project management staff worldwide and currently face some barriers: Workplace inequality, are not only an economic and business issue but a societal one. The barriers to gender inequality must be removed before a woman starts her career as a project manager to encourage her successful career choice. It is also imperative for women to encour- age each other. Workplaces that are more supportive towards women with families also benefit everyone else who will gain from a flexible work-life balance. Women power It is now a great opportunity for women to consider project management as a rewarding career Gender-specific challenges are prevalent and project management remains a man’s world. Some sec- tors such as energy, might prefer men due to the nature of the job. Unfortunately, women still have to assert themselves to gain accept- ance and overcome preconceived notions. However, as strong and resilient project leaders are sought after, women have these crucial skill sets to be successful. Gender pay gap in project man- agement is prevalent as it remains more lucrative for males than for women. Although women have been a prominent presence in the workplace for over five decades, and now make up more than half of the work force, they still struggle to advance into the highest positions at the same rate as their male counterparts. However, findings from various studies indicate that women are more likely to be successful at jug- gling multiple roles if their career is meaningful and fulfilling. Therefore, women must be supported and en- couraged to pursue both simultane- ously and raise their confidence in their ability to manage responsibili- ties in all spheres of their lives. At PMI, we focus on evolving the role of women in project man- agement and support collaborative leadership by providing the power skills needed for woman to excel in the workplace. We are currently fos- tering ongoing dialogues on diver- sity, equity and inclusivity. By shedding light on women who have been role models will encour- age a new generation of women to take the lead. We need to continue raising awareness on the scope of activi- ties handled by women in project management, providing networking opportunities and the right mentor- ship. Together, we can make equality become a reality. “WOMEN ARE MORE LIKELY TO BE SUCCESSFUL AT JUGGLING MULTIPLE ROLES IF THEIR CAREER IS MEANINGFUL AND FULFILLING.”14 C EO M I D D L E E A S T MAR C H 2 0 21 BUSINESS | LIGHTHOUSE ARABIA e live in a time of many contra- dictions. We have the technol- ogy to enable efficiency, and that same technology is the root of mass distraction. We do all day but at the end of the day we feel like we got nothing done. We constantly feel like we are hav- ing to play catch up with projects and to-do’s that never end. Most of us can say that we have felt anxious, stressed or overwhelmed at some point in the recent past, while ac- cording to World Health Organisation, one in four of us will say that they have experienced a mental health disorder at some point in their life. the year 2020 was a difficult year for many, meaning more disturbed sleep, less social interac- tion and generally feeling a bit further away from our true selves. Dr. Saliha Afridi, Clinical Psycholo- gist and Managing Director of The LightHouse Arabia, outlines a few root causes of stress and anxiety during these tough times and how best to combat them. Disconnected from our true selves So many of us spend the majority of our time online as we ‘socialise’ on one of the many platforms available. We take careful measures to present the part of us that we believe will get us the most likes or the most followers. But one of the costs of being so heavily invested in our virtual identity, is that many have lost touch with their authentic self. Who we are, what we believe, what we want and how we live our life is being imposed on us rather than being created by us. This disconnection with our true self has most of us feeling groundless, lonely and anxious. Most often people confuse ‘loneli- ness’ with being ‘alone,’ which is why they are quick to distract themselves with entertainment or socialising when they are feeling lonely. However, one can be alone and not feel lonely at all, but only if they had a good relationship with themselves and W THE ANXIETY EPIDEMIC WITH EMPLOYEES STILL ADAPTING TO A NEW WORKING REALITY, MANAGERS NEED TO BE HIGHLY EDUCATED AS TO WAYS TO TACKLE GROWING ANXIETY AND STRESS IN THE WORKPLACE AND OUTSIDE IT. DR. SALIHA AFRIDI, CLINICAL PSYCHOLOGIST AND MANAGING DIRECTOR OF THE LIGHTHOUSE ARABIA, SHINES A LIGHT ON WHAT WE CAN DO ABOUT ITMAR C H 2 0 21 CEO MIDDLE E A ST 15 enjoyed their own company. Which is why to connect to oneself is one of the best ways to combat loneliness, build self-confidence, and alleviate stress. In order to start developing a relationship with yourself, engage in some reflective practices by spending time alone and getting to know yourself without the constant influence of the external world. This is easier said than done in the world where something is constantly pulling at our attention so it will require a disciplined practice. Whether it is daily journal writing, weekly therapy, minutes of meditation built in throughout the day or engaging in expressive arts to allow you to tap into different parts of you, be sure to ink it in to your schedule and make it part of your daily and weekly routine. Information overload According to one researcher at Mind- fulschools.org, a human being consumes more information in reading one issue of the New York Times newspaper than they would have throughout their whole lifetime in the 17th Century. Granted, life expectancy was 40 years or so, but in any case, 40 years versus one newspaper is quite a big jump for a human brain that hasn’t evolved much since then. This doesn’t even take into account the emails, social media, advertisement, television and the many other forms of media that people consume each day. It is no wonder that many of us feel overwhelmed, fragmented and anxious most days. To prevent burnout and stress from information overload, be sure to shut your phone off and get some respite from the constant download of content. Regardless of how busy you are or how ‘urgent’ work may be, everyone can afford to turn off their phone for a few minutes every day. Give your brain a rest and sched- ule time to “do nothing.” Since most people do not know how to “do noth- ing” anymore, I recommend looking at a candle flame, or out of your window at the moving cars or the dancing trees and allow yourself to day dream as you did when you were a kid. Don’t make an intention to do anything or think about anything… just soften the gaze, and let your mind rest as it wanders. Not enough quality or quantity of sleep We are in a catastrophic sleep-loss epidemic, according to sleep researcher Matthew Walker of UC Berkley. While technology has helped us become more efficient and entertained, it has caused havoc on our sleep cycles. Melatonin, which is the darkness hormone, is com- promised due to our constant interac- tion with back lit, blue light devices. This is resulting in people sleeping fewer hours, and when they do, they do not have good quality sleep. Anything less than seven hours of sleep is considered insufficient sleep for the body to do all that it needs to do during that time. Which is why one of the most critical perspective shifts a person needs to make in the 21st century is from the idea that “sleep is rest” to the idea that sleep is when the body is engaging in healing, repairing, regulating, integrating and eliminat- ing. We can go many days without food and still function, however, one day of compromised sleep throws our whole physical and mental health off its axis. For example, just one day of sleep less than six hours, and our natural killer cells which help fight off bacteria, and viruses drop by 70 percent, and compro- mise our ability to regulate our emotions by 60 percent. So, what should we do to ensure we’re getting enough rest for our bodies to go through the day productively? Pay attention to what you do in the day. Contrary to what many believe, the quality of sleep is not going to be ensured by what you do only at night but how you spend your day. Wake up and go for a short, brisk walk in the morning sun, this will help regulate your circadian rhythms. Avoid naps because it will disrupt the adenosine levels in your body, making it more difficult for you to fall asleep at night. Stop drinking coffee at 10am, since coffee has a very long half-life and quarter life, which means if you drink a double espresso at 12 noon, you will have a ¼ espresso still in your system at 12midnight — this will definitely disrupt the quality of your sleep. You can also unwind with an evening routine which can include hot showers, lavender pillow spray, magnesium oil, and chamomile tea in a dark room as a nightly ritual. As Walker states, “sleep is the single most effective thing you can do for your mind and your body.” A few nights of good sleep and you will feel the alleviation of your anxious and depressive symptoms. We must all remember that, yes, stress is inevitable from time to time, however, it needn’t be a constant in our everyday lives. The above is not prescriptive, nor will it cure any overwhelming situations or feelings you have. Hopefully, however, it does provide perspective and act as a re- source to help each of us navigate life regardless of the stresses and anxie- ties we may have. Most importantly, prevention is key so always ensure to take the time you need and identify any triggers in order to best manage your feelings. “EVERYONE CAN AFFORD TO TURN OFF THEIR PHONE FOR A FEW MINUTES EVERY DAY. GIVE YOUR BRAIN A REST.”16 C EO M I D D L E E A S T MAR C H 2 0 21 LEADERSHIP CELEBRATING THE WOMEN LEADING THE REGION INTO THE FUTURE CEO MIDDLE EAST PAYS TRIBUTE TO THE WOMEN IN BUSINESS, GOVERNMENT AND SOCIETY WHO ARE SHAPING THE MIDDLE EAST THANKS TO THEIR VISION AND LEADERSHIP WOMEN OF INFLUENCE IN THE ARAB WORLD 2021 NESS, DLE 21MAR C H 2 0 21 CEO MIDDLE E A ST 17 “IN THE FUTURE THERE WILL BE NO FEMALE LEADERS, THERE WILL JUST BE LEADERS.” - SHERYL SANDBERG18 C EO M I D D L E E A S T MAR C H 2 0 21 r. Dalya Al Muthanna is President of GE in the UAE and the global Chief of Strat- egy & Operations for GE International Markets. Dalya partners with the GE businesses in the industrial verticals of Energy, Aviation and Healthcare to develop and facilitate the execution of market business strategy in the UAE. She also holds a global role leading the strategic direction of the GE Interna- tional Markets organisation, which enables GE to operate within selected strategic, complex, and emerging mar- kets by building strong stakeholder re- lationships, analysing unique market dynamics, and leading lean transfor- mation across its operational manage- ment system. Dalya gives particular interest to promoting diversity, developing lead- ership capability and local talent, as well as driving innovation to advance technological growth in the region. ima Ganwani Ved is the founder and Chairwoman of the Apparel group, one of the largest retailers in the Middle East based out of the UAE. The multibil- lion-dollar company is home to more than 75 brands with over 1,750 stores in 14 countries with over 16,000 human capital. Over the years, Ved has been the recipient of many awards profes- sionally and personally, some of which are The Philanthrepreneur of the Year, Retailer of the Year, Great Place to Work, Great Women’s award and Emir- ates Woman of the Year. The individual accolades received by her brands are too many to name. As a champion of female empower- ment, what better place to start than one’s own home. So Ved started nur- turing her children from an early age. Selina (23) and Sarisha (15), have been immersed in the concept of hard work since they could understand business. FOUNDER AND CHAIRWOMAN, APPAREL GROUP BUSINESS LEADERS AND ENTREPRENEURS PRESIDENT, UAE, GLOBAL CHIEF OF STRATEGY & OPERATIONS, GE INTERNATIONAL MARKETS BUSINESS LEADERS AND ENTREPRENEURS Dr. Dalya Al Muthanna Sima Ved DS una Easa Al Gurg is the Director of Retail of Easa Saleh Al Gurg Group, a multidivisional conglomerate with 27 companies. The Group is active in sev- eral industry sectors that include retail, building and construction, industrial, real estate and joint ventures. Since 2008, Al Gurg has been Chairwoman of Young Arab Leaders UAE, where she promotes education, entrepreneurship and youth development. She is a pas- sionate advocate of providing more opportunities for women in business. In 2015 she launched the Muna Al Gurg Scholarship at London Business School, supporting female students studying in the school’s MBA and Ex- ecutive MBA programme. She is on the board of several non-profit organisa- tions, such as the Emirates Founda- tion for Youth Development where she works closely with its Chairman, Sheikh Abdullah Bin Zayed Al Nahyan. DIRECTOR OF RETAIL, EASA SALEH AL GURG GROUP BUSINESS LEADERS AND ENTREPRENEURS Muna Al Gurg MM A R C H 2 0 2 1 C EO M I D D L E E A S T 19 reej Mohsin Haider Darwish is chairperson of the Automo- tive, Construction Equipment and Renewable Energy cluster of Mohsin Haider Darwish LLC. The foundation of the firm was laid in 1974 by the late Moh- sin Haider Darwish, who helped it meet the challenges of a rapidly developing nation. MHD LLC has interests in trading, con- tracting and projects, with brands includ- ing Land Rover, Jaguar, McLaren, Volvo, MG, Ford, Huawei and Hitachi. After graduating from Sultan Qaboos Univer- sity in computer science and maths and joining Petroleum Development Oman as a programmer, Areej entered the family business in 1994. Her leadership and abil- ity to spot opportunities soon steered the organisation to success and she has been granted numerous awards over the years. What must be done to encourage gender parity in the workplace and how do you facilitate this in your company? Today’s women play an active role in so- ciety, culture and business. However, they have to walk the extra mile to prove their worth in the corporate world. I’m lucky to have grown up believing there were no lim- its to what I wanted to achieve in life. A woman can have it all if she sets stra- tegic goals. Employers play a vital role in work- place gender parity. At MHD, we believe in giving equal opportunities to all employ- ees irrespective of gender. We aim to find and empower diverse talent who will help achieve the organisation’s goals. We evalu- ate job specifications to eliminate barriers to growth, while promoting women’s edu- cation, training and professional develop- ment. It’s an environment where they can flourish and fulfil their career aspirations through active decision-making roles, see contributions recognised and access men- torship for senior roles. What are you most proud of? I believe I have been successful in carry- ing my father’s legacy, which for me is an achievement. I took the lead in diversifying the family business by expanding its brand portfolio through new business partner- ships. The company has moved beyond niche segments into sectors in line with Oman’s Vision 2040. We expanded our presence across Oman by opening multiple showrooms and aftersales services for cus- tomers in the interior. Who are your role models? I grew up in a business family and my role model was my father. He was the epitome of who I wanted to become. His relentless pursuit of excellence, determination, per- severance and foresight were lessons. He introduced me to the business world and his guidance gave me a good understand- ing of operations, provided invaluable real- world business experience and taught me to stay strong in the face of adversity. What are a leader’s most important traits? It’s imperative to have a vision and meticu- lously work towards it – the disciplines we follow catapult us to success. “I GREW UP IN A BUSINESS FAMILY AND MY ROLE MODEL WAS MY FATHER. HE WAS THE EPITOME OF WHO I WANTED TO BECOME.” CHAIRPERSON, AUTOMOTIVE, CONSTRUCTION EQUIPMENT & RENEWABLE ENERGY, MOHSIN HAIDER DARWISH LLC BUSINESS LEADERS AND ENTREPRENEURS Areej Darwish ANext >