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BankMuscat SME workshop to focus on maximising business potential

MUSCAT, 25 March 2012 – BankMuscat, the flagship financial institution in the Sultanate, is organising a workshop on entrepreneurship on 29 March at the Bank's head office. The interactive workshop focusing on 'Powerful leadership – The secret to achieve true business potential' will be conducted by PeopleSys lead trainer Gurunandan S. Savnal'.  Savnal is the founder of PeopleSys, which specialises in consulting in strategic and risk management systems and management training. The workshop will be delivered in English. 

Ilham Al Hamaid, AGM - SME Credit and Marketing, said: “The workshop theme fits the corporate ethos of BankMuscat, aimed at encouraging creativity and innovation among people, thereby contributing to national initiatives and economic development by facilitating an entrepreneurial environment in Oman. BankMuscat is a strong supporter of the government policy to encourage individual initiatives aimed at self-employment."

Ilham added: “Al Wathbah, BankMuscat's small and medium enterprise (SME) department, has been very dynamic in financing businesses and strengthening the SME foundation in Oman. Aimed at strengthening the SME sector, BankMuscat offers a comprehensive suite of tailor-made finance solutions."

The workshop will focus on SME leadership and examine the reason why these businesses are not achieving their full potential. The reasons for business failures include that entrepreneurs assume that if they understand the product and do a great job with their product, the business will take care of itself over time. It is a fatal leadership error. The workshop will focus on the need to move from a “people dependent" business to a “strategy and system driven" business.

The workshop is designed to inspire and engage entrepreneurs, providing them with relevant information to address the challenges facing business owners today and to identify the skills and capabilities necessary to overcome them. In addition to presentations, the workshop will feature open discussion and evaluation of business case studies, shedding light on ingredients that are critical to SME success.