Business in UAE and GCC - Assignment Example

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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,…
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Business in UAE and GCC
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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, 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).
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:// 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
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