Shareholders should have a say

Keeping in touch with them is important for efficient functioning of a project, says DED

Maintaining channels of communication with shareholders is not an easy task, but it is considered important for the success of any commercial project, the Department of Economic Development, Dubai specified. Besides, getting in touch with shareholders is also deemed a key step in consolidating the project.

Missing clause in contract causes confusion The Commercial Establishments Complaint Section of the Department of Economic Development, Dubai, has resolved a complaint about a fight that ensued between two traders regarding designing and building a shop belonging to one of them. One of the traders had signed a contract with the second one where the latter agreed to design and build his shop with certain specifications, elaborated Ahmed Najy, Director of Business Awareness Section. However, according to the complainant the shop specifications he had asked for were not met and he registered a complaint with the DED about the same. The complainant said that he agreed with the merchant - the other party - on the number of shelves he wanted in the shop but the latter refused to do it saying that the contract did not touch on the number of shelves to be installed in the shop. Acting on the complaint, the Commercial Establishment Complaint Section verified the agreement between the two parties and summoned both parties to get more information about the issue in order to settle it. It was found out that the contract did not contain any clause, which may refer to the issue of the 'number of shelves' that were designed for the complainant's shop. "From our side, we have settled the issue amicably between both parties, as it has been agreed on making some modifications on the designs," Najy added. It has been noted that in the complaints the section receives, most of the contracts did not contain such key details, Najy added. "We received lots of complaints similar to this issue. That's why it has become necessary for all parties to manifest and write down the material used, its type, quantity and number, others in the contract in order to maintain rights of all parties of the contract. This also makes it easy to determine where the problem exactly lies, he added. salah@khaleejtimes.com

Failure to pass on information might have a negative outcome on cooperation within the project. There are some key steps that can help any individual/employee, working on a certain project, achieve success and progress to the next stage.
* Before starting any project, especially if it requires support from shareholders, a detailed list containing names of shareholders should be created. The jobs required from each shareholder should be determined along with the volume of shares he/she has contributed, so as to measure its effect on the project.
* It is preferable to sketch a communication plan beforehand for the operations progress of the project such as: meetings, workshops, amount of money, along with other of needs as multitasks. All shareholders/individuals in the project have to stick to this plan.
* Communication with shareholders and individuals in the project must be enhanced. It is good to gather information pertaining to the state of the project once every fortnight/month.
This information should be exchanged among all in order to handle any potential issue before it gets worse.
* Detecting any potential problem and making a table noting the dangers is likely to be an extremely significant step. Problems may appear even in projects that have been managed in a better way. The job of the team in addition to the shareholders is to locate such problems before they grow worse.
* Involving shareholders in the process of designing the operations is very important. They have a stockpile of expertise which may help bring about positive changes to the project.
* A proper technique should be used to communicate with and follow up with the team members and shareholders in the project like e-mails, project server or any other techniques and programmes that can be used to augment the quality and efficiency of the team and shareholders.
* Shareholders should be honoured so that they keep in touch with the project team and continue giving support to other projects...
salah@khaleejtimes.comw

63m duplicate items seized

As many as 63 million pieces of duplicate goods worth Dh1.14 billion were seized last year by the commercial compliance and consumer protection sector (CCCPS) of The Department of Economic Development-Dubai (DED).
Mohammed Ali Rashid Lootah, executive-director of CCCPS said: "It has always been the endeavour of the CCCPS to preserve intellectual property and protect businessmen from encroachment on their trade brands.
"The Global Competitiveness Report 2015-2016 issued by the World Economic Forum (WEF) ranks the UAE 22nd globally in intellectual property rights protection, and DED in cooperation with the federal and local government authorities as well as the private sector is working to move the country further up in the ranking," he said.
Citing figures released by the sector, Lootah said fake spectacles topped the list of confiscated products in terms of value, which came to the tune of Dh171 million followed by accessories, Dh139 million; and duplicate phones Dh132 million,
Games and computer devices topped the list of duplicate products in terms of number, which accounted for 22 million pieces - accessories, 14 million pieces and cosmetics, 10 million pieces.
He said trade violations dropped in terms of figures as last year violations stood at 5,101 compared to 5,897 in the preceding year - down by 13 per cent.
"The number of inspection visits rose from 11,228 in 2014 to 11,985 in 2015 - a rise of 7 per cent." -salah@khaleejtimes.com

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