Spotlight on...the importance of authenticity.
Spotlight on…the importance of authenticity.
Our transformation journey is about coming together, working towards a shared Purpose, celebrating and building on our legacy, by collectively reshaping the future of Al Ghurair. It’s a privileged position, and we all have a part to play in shaping and driving the transformation.
With change happening all around us every day, it’s important that we don’t miss milestones along the way and that we look outside our own teams and departments to see how others are championing and enabling our journey.
Our ‘Spotlight’ series aims to shine a light on transformation highlights across the group. Each edition will feature a different team, colleague or topic, showcasing progressive action, innovation, and Purpose-led progress!
In the latest edition of our ‘Spotlight’ series, we explore the concept of authenticity in the context of transformation and discuss how a legacy brand like Al Ghurair should never underestimate the value, impact, and equity that comes with being a heritage brand.
Staying True to Your Roots
As a family business with a history of over 60 years, Al Ghurair has a rich legacy deeply ingrained in the heart of the UAE’s own story. With a reputation for being pioneers for change and for good, our brand’s heritage provides trust and emotional connection that is hard to come by for newer companies and start-ups. For us, legacy is intrinsically part of our brand identity and equity. Therefore, it is essential that we stay true to our roots as we evolve and transform our brand to remain relevant in today's fast-paced business environment.
"Brand equity is the legacy that a business leaves behind. It is the culmination of years of hard work, dedication, and a commitment to excellence. For legacy businesses, brand equity is not just a number on a balance sheet, it's a reflection of the values and reputation that employees and customers have come to trust and rely on" says Sara O’Hara, Head of Group Communications, Al Ghurair Investment.
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Being Authentically You
In a region where tradition and heritage are highly valued, a business that demonstrates a commitment to authenticity can differentiate itself from competitors and appeal to consumers who are seeking a genuine experience. When it comes to brand transformation, authenticity should be at the forefront of strategy. Authenticity is critical because it enhances credibility with customers, builds trust among employees, and ultimately drives brand loyalty and business growth.
Being authentic means being true to who you are as a company, owning your strengths and weaknesses, and communicating honestly with your people, customers, community, and shareholders. It also means being transparent about your values, beliefs, and purpose. For a legacy business, this can sometimes be a challenging task, especially when trying to evolve a brand in an ever-transforming world. However, a company can leverage its history to create a more compelling brand identity that resonates with today's customers. By staying true to core values and purpose, it’s possible to build a bridge between the past and the present, creating a sense of continuity of an evolving journey.
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The Value of Values
For a heritage brand, retaining values is crucial when undergoing a transformation. These values are the foundation of the brand's identity and reputation, as they define what the brand stands for. By retaining these values, a heritage brand can ensure that its loyal customers continue to identify with the brand, while also attracting new customers who share similar values.
Simultaneously, a heritage brand must be willing to adapt and evolve in order to stay relevant in today's fast-changing business environment. By retaining core values while adapting to change, a heritage brand can create a powerful brand identity that resonates with customers and stands the test of time.
Authenticity requires a certain measure of vulnerability, transparency, and integrity – it is the new currency and an essential element of any successful business. It builds trust, differentiation, employee morale, and resilience, all of which are critical to long-term success. As we continue along our transformation journey at Al Ghurair, we aim to respect the past and reshape for the future - leveraging our legacy and staying authentic to create a compelling brand identity that resonates with our people, customers, and shareholders of today and tomorrow, while preserving our proud history and advancing into the next chapter of our story.