Free

Business in UAE and GCC - Assignment Example

Comments (0) Cite this document
Summary
The main objective leading to its formation was to provide systematic, monetary and business relationship among its members. The members of the GCC mainly deal with oil exportation (Ramady 2012). UAE,…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94.9% of users find it useful
Business in UAE and GCC
Read TextPreview

Extract of sample "Business in UAE and GCC"

Introduction The GCC was started in nineteen eighty-one has a membership of six countries. The main objective leading to its formation was to provide systematic, monetary and business relationship among its members. The members of the GCC mainly deal with oil exportation (Ramady 2012). UAE, which is one of the members of the GCC, mainly depends on oil and gas exportation, which has played a great part in its growth (Int’L 2013).
One of the companies that have played a big role in the growth of UAE and GCC nations as a whole is ENOC Company.
ENOC
ENOC, which is under the Dubai governments ownership, is a diversified energy company. ENOC owns a group of station in UAE, and its main objective is to own different business enterprises in UAE and GCC as a whole. UAE, which was the initial UAE, has contributed highly on the growth of UAE through its oil and gas production. ENOC has achieved impressively due to its customer satisfaction, promotion of Emiratisation, enhancement of equipped effectiveness and promoting business diversification that includes geographical development. The geological development is achieved through BSC, which is a strategy implementation and management of the performance aspect embraced internationally (ENOC 2014).
Through embracement of BSC, ENOC has been able to set transparent goals and also focus on key areas of business. ENOC has also been able to maintain good customer relation through sustaining promotion, CSR and maintaining quality and also embracing teamwork. By doing this, the ENOC Company has enabled the UAE to develop (Behind Every Successful Journey n.d). ENOC has also started programs in which they maintain and enhance UAE citizens ’skills. ENOC Company achieves this through broad Development program. The program consists of five professional stages namely: Tadreeb, Ajyaal, Imtiaz,Mawaheb, and Tatweer. The program’s main objective is to enhance their employees’ practical, performance, proficient, administrative and guidance skills. By doing this ENOC company ensures the employees’ suitability in the company thus enhancing the growth of the company and UAE in general. ENOC also hires its employees on the basis of competency and their careers undertaking (Behind Every Successful Journey n.d).
ENOC company also embraced the expansive learning in the organization and development which they achieved by progressed administration of knowledge and information organizations. Through diversification and extension of business, ENOC has been able to maintain this through establishing a transparent market administration in the trade region (Behind Every Successful Journey n.d).
ECON Company has also increased its functions in global markets. ENOC has established its markets in Africa, Middle East, India and Central Asia. Cylingas that is a branch of ENOC has contributed greatly to the growth of UAE and GCC nations; the company offers EPC services for Oil industries. ENOC Company has also entered in major international relationship with different global companies. The business relationship enables its employees to gain expertise that enables them in the accomplishment of their business.
ENOC also launched a program known as ERM to detect risks in the strategic and operational sector. The program also enables ENOC Company to manage the risks immediately. Another function of the ERM is to enable the company in the assessment (Behind Every Successful Journey n.d). ENOC also established COBC, which is an element of the organization principles, culture and agreement program. COBC sets principles for ENOC’s operations in daily basis, and it is relevant to all stakeholders. COBC consists of different elements that help the company in everyday activities. ENOC Company is also involved maturing young SME groups in UAE. ENOC Company achieves this through a program known as The Establishment’s innovative program (Behind Every Successful Journey n.d).
Conclusion
In conclusion, ENOC Company is viewed to have contributed greatly to the growth of UAE, which is a member of GCC. Through offering educational programs for its employees ENOC Company ensures that the employees have enough skills to enable them to contribute in the growth of UAE. The diversification of business is also seen to play a massive role in growing the industrial sector of UAE.
Work cited
"Behind Every Successful Journey." Https://www.enoclubricants.com. Web. 23 Nov. 2014.
.
Ramady, M A. The Gcc Economies: Stepping Up to Future Challenges. New York: Springer
Science+Business Media, 2012. Internet resource.
IntL, Business P. U. United Arab Emirates Insolvency Laws and Regulations Handbook: Strategic Information. S.l.: Intl Business Pubns Usa, 2013. Print. Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Business in UAE and GCC Assignment Example | Topics and Well Written Essays - 500 words”, n.d.)
Business in UAE and GCC Assignment Example | Topics and Well Written Essays - 500 words. Retrieved from https://studentshare.org/business/1667896-business-in-uae-and-gcc
(Business in UAE and GCC Assignment Example | Topics and Well Written Essays - 500 Words)
Business in UAE and GCC Assignment Example | Topics and Well Written Essays - 500 Words. https://studentshare.org/business/1667896-business-in-uae-and-gcc.
“Business in UAE and GCC Assignment Example | Topics and Well Written Essays - 500 Words”, n.d. https://studentshare.org/business/1667896-business-in-uae-and-gcc.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Business in UAE and GCC

UAE Shoe online Business Plan

...UAE Shoe Online Business Plan Executive Summary The UAE shoe online will provide a distinctive avenue for communication through the Internet medium. It will provide is a remedy for an enhancing demand for clear and comprehensively fashionable shoes at fair prices. The company’s objective is to enable the community access a fashionable shoes from all parts of the world. This business plan is created to obtain funding amounting to $2,200,000. Nevertheless, the supplemental funding is needed to start work on web design, purchase of server, computers and software, brand marketing and modifications, and to clear expenses incurred during the initial year of management. Additional funding has already been obtained from; firstly $50,000... ....
20 Pages(5000 words)Assignment

GCC Economics and OPEC

..., India, South Korea, Singapore, France, Italy, Saudi Arabia, Germany and China. Kuwait Kuwait is one of the smallest countries in the gulf. It has an open economy and is a member of OPEC. The country’s GDP was $136.5 billion, $133.9 billion and $141.2 billion in 2010, 2009 and 2008 respectively. The government is privatizing its assets so as to diversify the economy. In May 2010, the government passed privatization bill, which will allow the government to sell its assets and business operations to private investors. The rate of inflation in Kuwait for the years 2010 and 2009 was 4 percent. The rate of unemployment is below 3 percent and is lower as compared to other GCC countries except Qatar which is...
8 Pages(2000 words)Research Paper

E-business in UAE Challenges and Opportunities

...?E-business in UAE; Challenges and Opportunities The United Arab Emirates is experiencing a progressive growth in its e-business sector. Currently, Dubai has established itself as an e-commerce hub in the Middle East. It is estimated that sales through the country’s e-commerce have grown from $2 billion in 2009 to $ 3 billion in 2010. This growth rate in e-trade exceeds trade carried out in the ordinary market. According to a report released by Madar Research Group in 2002, UAE e-commerce has reached the levels of top European Union states. Like other developed countries in the European Union, Dubai has a score of 76% in the effectiveness of the e-commerce sector. This...
4 Pages(1000 words)Research Paper

UAE AND GCC SOCIETY

...?UAE AND GCC SOCIETY Introduction Several leading organizations around the globe are trying to bring sustainability in their business process in order to overcome several legal and environmental challenges. UAE and several GCC Countries are known as major oil producers and distributors in global places. Day-by-day, the per capita consumption of oil and gas is increasing dramatically. Huge consumption of oil and gas and burning of fossil fuel are increasing the level of carbon emission in atmosphere. Global warming and rapid global climate change are the major consequences of higher level of carbon emission (Singh 257). Government of several countries is...
5 Pages(1250 words)Essay

Uae

...as a pacesetter and a regional leader for development. Commercial strengths According to Gorgenlnder (2011) and Group (2008), the country has open trade zones favorable for business start-ups. Most of the enterprising people can easily nature their talents and explore market opportunities easily. Interestingly, the country has no corporate and personal taxation. Any business start-up has no personal/corporate intimidation in form of taxes. More often than not, most businesses fail due to high taxation and unfavorable work environment. This favor has been extended to other countries; there is no taxation for information exchange. Infrastructural strengths UAE has...
3 Pages(750 words)Assignment

Central Bank for GCC

...and institutional development are the important drawbacks. The differences in the economic policies followed by the GCC countries would make the unification process difficult. Three different methods used to test the GCC economies by Abu-Bader and Abu-Qarn (2006), the Structural VAR, co-integration tests and common business cycles provide no support for establishing a monetary union (AlKholifey & Alreshan, p. 19). They also observed ‘that neither AD nor AS shocks are symmetrical between the GCC countries and the selected European countries’ (p. 20) while AD refers to Aggregate Demand and AS, Aggregate Supply. Structure of the suggested Central Bank for...
5 Pages(1250 words)Research Paper

Cheap or Modern Furniture Business in UAE

...Cheap or Modern Furniture Business in UAE In the World Bank's 'Doing Business 2009 report', a special mention has been made for the promising growth being shown by the Middle East and some of the South African countries. UAE came up eight points as compared to previous edition of the report. UAE is now placed at 46th position in the world in terms of the ease of conducting business (World Bank, 2008). Dahlia Khalifa, one of the co-author the report said, "Economies worldwide are increasingly committed to regulatory reforms, and this is evident in the Middle East and North Africa, the region with the second-largest share of economies that...
4 Pages(1000 words)Essay

Assignment GCC

...of unit Comparison of the GCC Countries’ Economic Performance The GDP that relates to the Gross Domestic Product is the total value of all commodities; goods and services that a nation yields within its borders every year. The GDP of the GCC countries tends to reduce from the year 2007 as time progresses except for a few cases, However, by 2011, almost all the countries GDP is significantly different from 2007 in a positive manner. In the year 2007, Bahrain experiences a GDP of 8.3 while Saudi Arabia has a GDP of 6. In the year 2011, Bahrain reduces to 2.1 while Saudi Arabia improves to 6.3. In the case of Kuwait, the GDP tends to go to a negative number in 2009 and 2010 to show a recession in the...
1 Pages(250 words)Assignment

UAE Economy

...of natural gas towards the exporting of other non-oil based commodities (Geronimo, 2014). 2.4. Challenges and Opportunities of UAE's dependency on Gas sales UAE is likely to face multiple challenges in terms of sustaining its economic functionality in case it intends to remain confined to the complete utilization of its own natural gas reserves along with simultaneous imports. In addition, business prospects regarding continued export of oil reserves may also hamper the future economic sustainability factor. As a direct result, the nation is left out with the only option of bringing about drastic improvement within its non-oil sectors for the economic growth of the nation...
25 Pages(6250 words)Essay

Universities in the UAE & GCC Countries

...of the high support provided by the country’s government – which aims to develop the quality of its universities at such levels that students from many countries will be attracted; this target is being pursued mostly by the improvement of the universities’ infrastructure but also by the increase of investment on scientific research, b) because of the development of a wide range of agreements with foreign universities and businesses which are well established in their industry; in this way, the resources required (financial and technological) for the improvement of quality of the country’s education system can be retrieved. 3. Current structure and forms of universities in UAE and GCC...
20 Pages(5000 words)Research Paper
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Assignment on topic Business in UAE and GCC for FREE!

Contact Us