The core competence of the corporation and apply it to BBCL Assignment

The core competence of the corporation and apply it to BBCL - Assignment Example They invent new markets and products of superior quality, diversify to stay ahead of their competitors, integrate with other best-performing firms, and form alliances in order to learn what they are not best at besides having a visionary staff, management and a valuable value chain process in their business operations. Firms that lack core competences in their value chain neither survive nor grow. Diversified firms are likened to a tree with its trunk and major branches being its core products, smaller branches being its business units while its leaves being its end products. The critical part of nourishing and stabilizing the tree is the root system which likened to core competences, which consist of a collective of skills and learning to build up over time in all the distinctive parts the company can use to stay ahead of its rivals. It is critical to articulate the strategic intents to the entire organisations .This is imperative in defining the company and its markets, identify projects that will enhance the core competence, allocating resources to help achieve these goals in addition to hiring requisite people with needed skills and knowledge to implement these strategies for achieve its goals. Thus, core competencies takes a corporate view as contrasted to a business unit which only takes in company operating multiple business units with managers always viewing themselves as competitors, for instances, the contrast between GTE and NEC’s performance which was mainly attributed to recognising, articulating and building competence by NEC that gave it a competitive market share than GTE which did not, though it had a larger capital base as compared to NEC. (Prahalad and Hamel 1990, p 1). In today’s business environment that is characterized by stiff competition, speed, low-cost high quality products and blue-sky technology, companies need excellent strategies well planned, chosen, executed and constantly revised to survive, grow and be

Dubai Global Economy Research Paper Example | Topics and Well Written Essays - 1250 words

Dubai Global Economy - Research Paper Example Besides, Dubai is recognized as the most important emirate of UAE due to its leading reserves of oil and natural gas. The nominal GDP of UAE in the year 2008 was recorded as 815,318 (mn dirham) and real GDP 453,578 (mn dirham) which depicts a sustainable growth since the year 2002. Notably, the nominal GDP of UAE in 2002 was 272,856 (mn dirham) and real GDP 269,304 (mn dirham). In addition, Dubai is also the main trading area among other emirates of UAE, which offers a significant influence on the GDP of the economy (Sementelli, A, â€Å"Toward a Taxonomy of Disaster and Crisis Theories†). Moreover, due to emergence of free-trade zones, Dubai became one of the imperative sectors of trade for the western producers, which offered significant support for the growth of financial condition within the economy of UAE. However, due to the recession of 2009, Dubai faced substantial challenges which also affected UAE to a significant extent (refer to figure 1) (Vietor, R. H. K. & Forres t, N. â€Å"Dubai Global Economy†). Focusing on these aspects, it can be stated that Dubai is among the most important emirates and the strategies should be considered as credible being fair and constitutional. Figure 1 UAE profile (2008) Dubai Profile (2008) GDP: 84% GDP: 152% Reserves: N/A Reserves: N/A Official Reserves: 46 $ billion Official Reserves: N/A External Debt: 211 $ billion External debt: 115 $ billion Source: (Vietor, R. H. K. & Forrest, N. â€Å"Dubai Global Economy†, pp. 6) Question 2 According to Astley (2009), the most important reason which resulted in this financial disorder was the erroneous monetary policies of the United States. The monetary policies mainly concentrated on the activities of the Central Bank or any other dictatorial authorities of the country that significantly helped in determining the extent and rate of growth of fiscal supply (Sibert, â€Å"Global Imbalances and the Financial Crisi