Sharjah Small and Medium Enterprises Award targets innovative entrepreneurial ventures and newly emerged, fast-growing, private organizations from Trade, Industrial, and Services sectorsin the United Arab Emirates. Those sectors are categorized based on size of man power and yearly revenue to 3 categories:
Infinitely small businesses: from 1 –8 employees
Small businesses: from 9 – 49 employees
Medium businesses: from 50 – 249 employees.
Moreover, the Sharjah Small and Medium Enterprises Award offers eligibility of participation to all nationalities and all private sector organizations who has a long-term sustainable future in terms of finances, services and customer satisfaction. Two winners each will receive a cash award of 50,000 AED.
Vision: Indicates company’s long-term destination.
The vision must be clear and specific.
It reflects the company’s direction and its core values.
Mission: The mission of a company expresses the main purpose and the essential role played as a business and includes the reason behind its foundation, the main parties working with it, its markets, the products, services, methods of provision, benefits and added-value.
The mission should specific, clear and concise as possible
It impacts the recipient and arouses his interest.
It clarifies the vision and strategy needed.
Objectives: Strategic objectives should be:
Measurable and verifiable.
Supports achieving the vision in the short and medium terms.
The goals should include increasing sales volume, expanding the scope of work, improving customer satisfaction, and increasing profitability.
Implementation Plans (strategies): After setting the objectives, the plans (strategies) to be followed by the firm must be set to ensure continuity of growth and achievement of objectives.
Implementation strategies are aligned with a company's vision.
Implementation plans (strategies) include production and operational activities such as: market expansion, development of new products, improvement of production and distribution processes, development of human capital and technology and others.
Regular monitoring and assessing of plans (strategies) and managing performance.
To achieve success and continuity, a company works on building strong and sustainable relationships with partners; expand mutual understanding and promote effective communication; and providing continuous support, exchanging knowledge and experiences, and enhancing cooperation.
Selecting the Right Partners: assessing potential partners and selecting partners agreeable with the vision, values, and goals of the firm, and verifying the compatibility of the institutional culture, future visions, and the ability to cooperate; and entering into partnerships on gradual levels.
Developing a Strong Partnership Agreement: Developing a strong and comprehensive partnership agreement that lays out shared responsibilities and obligations and includes areas of cooperation, distribution of responsibilities and resources, protection of intellectual property, and dispute resolution mechanism. Attorney consolation may be necessary to help put together a valid and effective legal agreement.
Partnership Assessment and Improvement: Managing and monitoring partnerships by identifying key performance indicators (KPIs) and following them up to measure performance, ensuring that the objectives set for the partnership are achieved, communicating and holding regular meetings to evaluate progress and exchange information, and identifying any improvements or modifications that the partnership needs.
Using Technological Systems: Based on the nature of work and the needs and technological requirements of the company, technological systems, tools and technologies are used to connect the company with its customers, partners and suppliers to exchange information, documents and communication, to participate in joint projects, manage tasks and deadlines and sharing them with others in a flexible and secure manner; managing customer relations, tracking and organizing their information as well as managing financial operations to facilitate them and generate accurate financial reports as e-mail and electronic correspondence, social networks and digital platforms, central cloud storage systems, customer relationship management systems (CRM), financial and accounting systems and websites.
Adding and Improving the Integration of Value-Added Internal Services: The integration of internal services in a small or medium enterprise enhances work efficiency, improves performance, increases its ability to achieve its goals, and helps it reduce costs and risks, increase customer satisfaction, and achieve long-term sustainable development, by integrating and coordinating various operations and internal services, making use of interrelated and integrated processes to achieve maximum effectiveness and coordination such as the integration of the administrative process, financial and human resources management, quality management, and information technology integration.
Developing New Products and Services based on Information: using available information and data in developing new products and services in a small or medium enterprise to identify market opportunities and meet customer needs through market analysis, customer feedback, innovative ideas for new products and services, evaluating the feasibility of promising ideas, developing prototypes for the product or service to be developed, testing and improving the product or service experience before its launch, marketing and promotion, monitoring product and service performance, improving products and services, listening to customer feedback constantly, and making continuous improvements and updates to ensure that customer needs and aspirations are met.
Creating External Databases: Creating and using external databases in the small and medium enterprise to effectively organize, analyze, store and manage data to improve work efficiency and to choose the appropriate solution according to its needs by performing a series of procedures such as identifying data needs, choosing a database management system, designing data structure, database creation, data entry, querying and analyzing data, maintaining and updating, accessing and controlling data.
Identifying Basic Work Skills: Identifying and evaluating the skills and capabilities that employees need to successfully perform their tasks in the work environment, and using the results to recruit and foster employees, improve their performance and effectiveness at work,and enhance efficiency and productivity by identifying the main tasks, identifying and analyzing the skills that the work environment needs in the company, assessing current staff, setting a plan for developing skills, and assessing and monitoring growth.
Providing Opportunities for Professional Development: Despite the limited professional development opportunities available for employees in a small or medium-sized enterprise, it enhances their satisfaction, commitment and perseverance at work, creating abalance between the needs of the enterprise and the aspirations of staff and adopting a fair and transparent method. Professional development of staff members is achieved by setting promotion paths, evaluation of performance and competence, career development, expansion of areas of expertise and development of the skills necessary for promotion, expressing appreciation of outstanding contributions and achievements, internal promotion of distinguished employees, improvement of the structure of the company, encouragement of personal development and continuous communication.
Working on Individual Development: Improving and developing individual skills through training and career advising to enhance capabilities and develop personal and professional skills to achieve better performance in the work place by identifying individual development needs, drawing up personal development plans, providing training and workshops, career advising and direction, providing practice opportunities, assessment and follow-up, and encouraging continuous learning.
Involving Employees in setting Plans and Goals: Involving staff in decision-making, determining the strategic path for the company, and setting goals that must be achieved; generating a sense of belonging and responsibility for the goals proposed by staff members.
Organized Communication with Employees: A small or medium enterprise can utilize many mechanisms for organized communication with its employees as appropriate for its corporate culture, and balance effective communication with ease of implementation and cost, through activities such as periodic meetings, e-mail, billboards, personal communication, team meetings, work progress reports, performance appraisals, feedback, and modern communication techniques, which differ for each corporation and its corporate culture. Selecting appropriate mechanisms requires finding a balance between effectiveness of communication, ease of implementation and associated cost, and supporting data sharing.
Customer Information: Customer information in the small and medium enterprise differs according to the nature of the work and enterprises’ specific requirements. In general, there are common elements of customer information that a small company develops, maintains, and updates for use in marketing and other operations such as contact information (name, email address, phone number, address), demographic information (age, gender, occupation, language, geographical location, income level and marital status), order details, purchase history, interactions and contacts, preferences and interests, feedback and reviews, social media profiles, subscriptions, and financial information, including preferred payment methods, payment history, and billing details.
SupplierInformation: Maintaining accurate and updated information about suppliers, establishing good communication channels, and reviewing their performance regularly to ensure continuous efficiency and effectiveness in the supply chain. Supplier information thatthe company usually collects and manages is contact information, business details (name and legal status of the company, trade registration number, tax identification number), products/services, pricing and payment terms, delivery and logistics, quality assurance and certifications, supplier performance reports, legal and contractual agreements, issues related to sustainability and business ethics.
Price Information: Pricing information in the company depends largely on the type of business or industry, competition, target markets, and general business objectives. This information is used for adjusting the strategy and comprises product/service prices, discounts and promotions, pricing structures for quantities, pricing models used, details of the cost of the product or service, the currency used for pricing and terms of payment, price comparison, pricing strategy adjustments, price tracking and analysis.
Competitor Information: Developing and maintaining competitor information and updating it helps small and medium enterprises in developing effective business strategies. This includes identifying and collecting information, analyzing the products or services offered by competitors, studying the pricing strategies adopted by competitors, determining market trends, identifying marketing and advertising strategies adopted by competitors, monitoring customer evaluations and observations about competitors, collecting information about competitors' performance (such as financial performance, market share, growth rate, and profitability), and competitors' strengths and weaknesses.
Marketing Objectives: Setting clear and measurable marketing objectives linked to the strategic objectives of the company and business in general, such as achieving a certain percentage of growth in sales or attracting a specific number of new customers.
Determining Target Consumers: Based on customer information, the target buyers of the company's products and services are well identified, by understanding the demographic, behavioral, and psychological aspects of potential customers.
Competitive Advantage: Focusing on the competitive advantage in all aspects of the marketing plan by identifying the unique products or services offered by the company, quality of service, prices, and others.
Marketing Strategies and Tactics: Includes all methods intended to reach and communicate with the target customers, and may include branding and design, advertising, public relations, digital marketing, and others.
Marketing Costs: One of the most important parts of the operating budget of the company and includes a number of items in addition to the items of marketing strategies and tactics used, costs of direct selling, market research and analysis cost, the cost of acquiring customers, and customer retention or loss.
Market Share: It represents the percentage of total sales achieved by the company over a specific period of time (units sold, revenues, and total sales).
Identifying and using new approaches and technologies to enhance efficiency and flexibility to reach customers, including e-commerce to sell products and services, cloud storage media, digital marketing, artificial intelligence and others.
Includes the application of flexible and agile methods and practices to increase and improve the efficiency and effectiveness of operations, in addition to using new technologies in managing operations, automation, electronic and cloud management software, and electronic data analysis to support decisions and others.
Developing new solutions that meet customer needs innovatively. This includes improving existing products or services by improving their quality, adding new features, design and packaging, providing support and customer service, pricing, and methods of listening and responding to customer feedback; introducing new products, or utilizing technology to improve services, with the aim of creating added value for the customer and achieving competitive excellence.
Cooperation with one or more of a firm’s partners to develop new products or services or improve ways of providing them to customers, such as sharing resources, expertise and technology to achieve common goals, which leads to helping the enterprise expand its capabilities and reach new markets at costs lower than its values.
Identifying and evaluating risks that may affect revenues, such as fluctuations in demand or losing key customers, and applying multiple strategies to mitigate these risks, such as diversifying customer base, introducing new products or services, and improving relationships with customers to increase loyalty, and others.
Methods used to reduce the risks of energy, waste, water, and employment expenditures are:
Energy: Using more efficient devices and equipment, and upgrading buildings to reduce energy costs.
Waste: Applying methods and means to reduce waste, such as recycling, reducing production, and improving production processes.
Water: Using water-saving techniques and improving efficiency in water consumption.
Employment: Applying various recruitment methods such as part-time or temporary contracts as needed.
To manage risks related to staff members’ productivity, applying strategies to increase and maintain high rates through:
Training and development to improve employees’ skills and promote continuous learning.
Providing a comfortable and positive work environment.
Using material incentives and moral support systems to encourage good performance.
Improving health and safety at the workplace to reduce inactivity.
Promoting transparency and effective communication to improve collaboration and job satisfaction.
Developing an integrated risk management plan that includes identification, assessment, planning and continuous monitoring.
Strategic Risks: Identifying objectives and evaluating opportunities and threats that may negatively impact achievement. A company can use analysis and continuous monitoring of the business environment to identify and reduce these risks.
Operational Risks: Related to the daily activities of a company through improving operations, providing appropriate training for employees, and applying a quality management system to reduce operational risks.
To manage risks related to attracting and retaining talent, a company uses multiple recruitment channels to reach a broader group of candidates, uses modern technologies to facilitate the process and attract talent, offers a competitive compensation package that includes salary, benefits, and professional development opportunities, spreading a positive work culture that encourages collaboration, respect, and diversity, building a strong brand that makes the company an attractive destination for talent, motivation, and celebration of success.
To manage the risks related to taxes and government fees, maintain tax compliance and obtain exemptions, if any, a company must be conversant with the laws that regulate government taxes andfees and their exemptions, in addition to seeking the assistance of an accountant or a tax consultant to assist in tax payment and tax exemptions, maintaining accurate financial records and all related documents, and periodically reviewing government taxes, fees and exemptions to ensure continuous compliance with laws and regulations.
Return on Investment: It measures the amount of financial return achieved by the enterprise in relation to investments made.
Revenue Growth: The growth rate of revenues over a specific period of time, and it can be evaluated by percentage increase in revenues.
Net Profit: Measures the ability to generate sustainable profits.
Financial Balance: Balancing revenues and expenses and controlling financial risks.
Employees outcomes,
Customer outcomes,
Partner and supplier outcomes,
Operation outcomes such as the time required to produce a product or provide a service, percentage of errors, products or services performed, time taken for completing maintenance, and stock/inventory indicators.
Electronic applications outcomes such as products and services provided and suggestions received.
Outcomes for measuring innovation and participation rates, such as the number of new initiatives and the percentage of applied suggestions.
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Exercise its economic activity in any emirate of the United Arab Emirates.
Commitment of its main person of interest who must be the owner, founder or controlling shareholder of the organization and principally responsible for its operation.
Must have a valid license, a membership with any Chamber of Commerce and Industry in the UAE, and/or a valid license from any Free Zone Authority in the UAE.
A minimum of two years of operation.
Sound and clear financial and legal standing.
Abide by the award deadlines.
Re-participation in the award is allowed after 2 cycles from date of ceremony.
Winners of this award will be selected from two categories including the Micro Enterprises with 5 or fewer employees and Small and Medium Enterprises with more than 5 staff members.
Registration Form.
Valid copy of its Economic Activity License.
Valid copy of Membership (from any Chamber of Commerce & Industry)
Submission Form.
Organizational structure.
Owner Cv.
Summary of achievements, activities and accomplishments. (Copies of relevant documents can be attached).
Summary of future plans and improvements. (Copies of relevant documents can be attached).
Follow Format/ Margin sent.
No. of Pages in Submission Document: 35 Pgs.
Follow Heading and Sub-heading numeration.
Language: Arabic / English.
Font Size: 12
Font Type: Arial/ Times New Roman.
Dividers: Dividers do not count towards number of pages.
Front Cover
Standards for Charts and for Diagrams.
Numbered Attachments
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