Network International's Profitability to Gulf Economy - Essay Example

Outsourcing is important to keep up with the competition in the global business in order to be able to drive the market share and profit (Burns 2009, p.62). It also gives your business the ability to concentrate on the main objectives such as customer service, banking, and retailing. The company focuses on the increase in the use of smart cards in the Gulf region by supporting through giving their experience and expertise to the current and new clients.

The current business environment is quite competitive which is why Network international has to keep up with the upcoming trends in the market through investing in the latest technologies, which will help the customers give a faster and more comfortable means of payment. According to Curtis Arnold, depending on the nature of one’s business, they have a variety of card and payment products and services, which will broaden one’s business opportunities (Network International).

Network International has maintained a culture of encouraging innovations in order to give their customers extraordinary products and services to keep up with the competition in the business environment. Their trained, qualified and experienced staff plus a business that is customer-focused promotes confidence in their clients to focus on their own business strategy. Working with network international gives business ideas that enhance loyalty in customers.

EFQM model
EFQM model provides a groundwork that motivates hard work, which is needed in the competition in a global arena (Gomez, Costa & Lorente 2011, p.486). The model gives a broader view of the organization which can be useful in determining how different ideas come together to complement each other. EFQM model enables individuals to understand what their organization does and the results it achieves. The aim of the model was to enable organizations to be successful and sustain success and respect.

SKEA/DQA
Sheikh Khalifa Excellence Award- SKEA and Dubai Quality Awards- DQA depends on the EFQM model. They help improve performance in all areas and in return give results. Used in the process of self-assessment, they can provide a platform for becoming the best organization. With the current competition in the global arena SKEA and DQA enable a company to keep up with the current trends in business.

Conclusion
Network international is profitable to the economy of the Gulf region in the services, which it offers to financial institutions, retailers and corporate business. The EFQM model is important in organizations because it provides a formidable groundwork for motivation, which is needed in the business world. SKEA and DQA both depend on EFQM model to improve performance in business and this era of card payment solution. Read More