Business Management in the United Arab Emirates

The environments and culture of a country are the major aspects that influence business and people’s readiness to get involved in one. A business starts off with a definition of the market and the demand. In order for a product or service to be successful, it must be popular and stand out from the others. Organization and ability to get marketed to the public specify what sort of benefits will be gained in case of success.

The unique qualities of customers and businesses create specific conditions and nuances that must be analyzed. Responsiveness relates to a well established and supportive communication between the customer and the business. Also, the customer is valued and respected in the highest way possible, so if there are any problems with products or services, the customer is satisfied by the organization. This usually happens in case the product is damaged or cannot be used any more or some alternative is found. The customer might demand the product to be taken back for a refund or a credit. Accordingly, a business must be responsive and effective towards customers. The difference between a company being able to respond and not, depends on the policies set and the resources. A company might not be allowed to make any refunds or satisfy customer’s other requests. This creates tension between the customer and the company (Jennings 40).

Segmentation relates to the division of the market according to the demands and stability of a certain area. The public relations should focus on the population factors that are most valued by the community or nation, so that people connect their wants and needs into one. The direct marketing should be in often visited places and be done by the technology that is most appropriate for the population. This subject can be divided into two major categories, in particular macroeconomics and microeconomics. The first one is a study of aggregate nature of the economy, and can be related to the factors that affect the economy as a whole. Microeconomics is a study covering the economic factors that influence people and nations on a more individual level.

The supply chain refers to the transfer of information, materials, and the services that are involved. A lot depends on how the chain is organized, thus a lot of competition is based on how well companies can manage their product distribution. The location of the business and the local population determines what products are most popular. The modern world is a fast developing place where the environment demands for everything to be done fast and efficiently. In the supply chain design strategy there must be a logical structure that has a reliable regularity and fail proof aspects. Supplying a product requires for the local businesses to prepare to receive the product, as well as people must be made aware of the shipment. Advertisement is greatly involved in the process, but is only a part of the chain (Gopal 31). In order for a supply chain to be successful, it must be efficient and cost effective. This would lead to a business calculating and analyzing all the steps from storage, transportation and reception of the product.

The price of work must be reasonable and in accordance with the advantages it brings into a company. Price is adjusted according to the community and population, as well as the demand and economic stability. Prior research must be done, so that several companies are compared and an adequate price is selected. This leads to the advertising and sales promotion. The promotion must be effective in an organization, so a loss of assets and stability in the company are reached. For promotion to be beneficial, the inner workings of a company must be well directed. While advertising, the maximum amount of people should become aware of the product.

Distribution is closely related to the knowledge of the market and social preferences. The business world is very dependent on the environment and cultural specifics of a nation. The society and governments play a crucial role in the establishment and further success of a business. The interconnection of distribution and logistics in relation to domestic and international factors enables businesses to carry out activities that are closely controlled by local and worldwide standards in the best way. A business that is in involved in supply and transference of products must necessarily get involved in the organization of the intricate network of cooperation with other businesses and companies. Some companies are choosing to merge or form joint ventures, and their output will be enormous comparing to those of single companies (Mankiw 19).

Globalization has helped advance the business culture in the UAE. The infrastructure and cooperation within many political and economical divisions has been the goal of the past several years, and the government works closely with society to adhere to the highest standards. The ability to open a private company without any danger in relation to illegal activity from administration forces and local authorities has given rise to development. Establishment of joint ventures and other partnerships have allowed for easier export and import transactions. Loans given by the government, banks and credit companies have low interest rates which provide healthy environment for business both domestically and internationally.

Within the past decades, the UAE have seen major changes in businesses and growth. Even thought there is separation between classes and incomes, most recently, it has been considered the land of opportunity where business will prosper. This has led to a significant increase of migrants, who are developing and contributing to the nation. Oil and gas industries have played an influential role in the progress that has taken place. This resulted in the rise of many projects within the UAE, including infrastructure, residential construction, education and manufacture. The communication systems and internet have aided in the coordination of businesses and people’s involvement in small companies and corporations. The environment has become very efficient for opening and operating in the UAE (Doing business with the United Arab Emirates 17).

The studies have shown that there is a deep relationship between a business and the customer, so proper CRM system is key to success. The more satisfied a person is, the better their response leading to higher input. As such, communication between people providing a specific service plays an important role in loyalty and recommendations. The solution is for businesses to get involved with the customers, think further by adjusting to the needs and giving specifically what is being wanted. A lot rests on the way a business is done and any change in the products will influence the sensitive and fragile relationship between the production company and the consumer. There has to be a steady management of the materials that are used in the company, constant making sure that all the required products and materials that are needed for the business are in place and the monitoring of the quality of the production relating to customers’ needs and wants.

Works Cited

Doing business with the United Arab Emirates. London, United Kingdom: GMB Publishing Ltd, 2006. Print.

Jennings, Marianne. Environment Business: Its Legal, Ethical, and Global Environment. Connecticut: South-Western Cengage Learning, 2010. Print.

Gopal, Namita. Business Environment. New Delhi: Tata McGraw-Hill Education, 2009. Print.

Mankiw, Gregory. Principles of Economics. Mason: Cengage Learning, 2011. Print.