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International business describes the commercial activities taking place that are global in nature and its reach. The scope provided by global operation and its expertise also is much in demands and reach. In the globalized world today, there is no dearth of global operation involving private entity and corporations.
The objective of this work thus is emphasized for an analysis on the banking institution based in UAE. The corporation identified for the purpose of this study is Emirates NBD - banking and financial groups based in UAE. It would prudent that the corporation selected for the purpose of this study is also defined, which is overview below.
Emirates NBD: Company Overview
Emirates NBD is considered as one of the premiere banking corporation in the Middle East region where its operation is located. Established on October, 16, 2007 Emirate NBD presence in UAE and in the Middle East market is huge. (EmirateNBD, Emirate NBD: About Us) The bank was "incorporated given its merger with National Bank of Dubai (NBD) and Emirate Bank International (EBI) in the early part of 2007. Since then it has come a long way to command a place for itself in the financial market in UAE today." (Gulfbase) Given the merging that took place, Emirate NBD groups is thus considered to be a big player in the banking and financial sector in UAE and in the Middle East region. It assets overall is estimated to be close to AED 281.6 billion as was calculated ending December, 2009. (EmirateNBD, Emirate NBD: About Us)
Emirate NBD is not only a market leader where it commands a place, but "also a leading franchisee in the retail sector across UAE and in the Middle East." (EmirateNBD, Emirate NBD: About Us) With "over 132 branches across UAE and the region and more than 705 ATM (Automatic Teller Machines) the business process of dealing with customer financially is also more enhanced and directly in reliant with the needs and wants of consumer in the market.
Emirate NBD products and services also are very effective for modern banking needs, starting with "personal banking, priority banking, corporate banking, private banking and business banking, apart from services such as internet banking facilities that it provides to customers as well as credit and debit card, plus loan facilities that are easy on customer and attends directly to the needs of modern society and its banking needs." (EmirateNBD, Emirate NBD: Home) The company robust operation "is powered by competent groups of management and effective and reliant leadership, headed by Rick Pudner, who is the CEO of the Group. The management group or executive teams of the company are involved in all the monitoring process of the company." (EmirateNBD, Emirates NBD Management Team) The corporation "employs around 6922 employee across its branches in UAE and Middle East region," (Gulfbase) and have been instrumental to change the face of global banking needs in UAE and in the Middle East region given its expertise.
Emirate NBD Services and its Design
As a business establishment, we feel Emirate NBD and its business is a good thing to happen in UAE, the business people involved there and the economy and financial sector at large. Below discussion in fragments gives a glimpse of Emirate NBD services in offers and well as designs that is facilitated in the banking policies concerning personal loans.
Services in offer
In term of the services and products Emirate NBD offers, the following are some feature of it, "namely Current Accounts, Saving Account, Value Account, Deposits and non registered packages in the account section. In the Debit and Credit Card section, Emirate NBD offers different card for different needs, namely Platinum Credit Cards, Gold and Silver Credit Cards, Business Credit Cards, etc, to name a few among its established products in offers for customers. Besides, saving plans, investment plans, general insurance plans as well as the Shariah plans, which is instrumental to banking principle in UAE is collectively facilitated through the Bancassurance section of its services and products." (EmirateNBD, Emirate NBD: Home)
Services and Product Design
Thus, what we learn through a tour of the corporation website and its banking features and its services to be precise is that the abovementioned details clearly mirrors the facts that baking designs and services of Emirate NBD is covered into three main sections, namely Bancassurance, Credit and Debit Cards and Accounts.
It is also important to note that "Emirate NBD products or service designed that "extends to personal loans is designed in the formats of gratuity, or somewhat an underwritten undertaken by customers as a product design to make the process of loans facilitation more effective and reaching to the middle class customer in the most feasible ways, which not only offers growth for Emirate NBD, but also a greater access for customers and feasible repayment schemes as defined in the UAE laws, moreover, with an underwritten loans facilities, the risk is also lesser, and one aspects that we can interpret as the banking design of Emirate NDB in the personal loans section of the bank and its policies." (Davids, 2010)
Emirate NBD Quality Management
As a banking corporation, Emirate NBD has many successful ventures to its credit. This shows that the banking quality of the corporation is relevant enough. With a "competent team of management which undertake all executive decision, the bank hierarchy and its foundation is very solid. This shows also that the corporation management team and their leadership immensely impact the process and operation of the bank at the policy level as well as at the strategic level," (EmirateNBD, Emirates NBD Management Team) who are responsible for all quality measure undertaken or initiated from time to time at both the strategic and operational level.
To further give an exemplification of Emirate NBD quality management points, some of the most recognized successful venture of Emirate NBD is a good example. Some prominent award that the company have received in the year 2010 itself are, namely The Banker Award for best technology use in the Middle East, Best Private Bank in UAE award and the most established award being accorded to Emirate NBD is the one being awarded by FTS London, for best 'System Integration in finance." (EmirateNBD, Emirate NBD: About Us)
Besides, the fact is that Emirate NBD is also a socially responsible banking institution, given its CSR initiative that has benefitted the society to a great extent. Moreover, the significant point about the banking institution is that it is more involved in the preservation of the culture and identity of UAE for instance." (EmirateNBD, Emirate NBD: About Us) This is a good sign to see coming from corporate in the materialistic world today, and further gives evidence that quality management aspects of the company are good and effective enough.
Yet to justify this point again we feel that the news events covering Emirate NBD would be prudent. In that reasoning, what we have come across recently and as it appeared in AmeInfo.com is that "Emirate NBD in the years 2010 was awarded also with the quality certification awarded to them by the British Standard Institutions and accordingly was accorded the ISO 9001 quality certificate, which shows a mark of recognition being awarded by professional bodies for corporation for the quality of the company and its management aspects. Receiving such an award is an achievement itself, given that it marked the transition of the company into the quality framework and its integration that have been a subject of recognition and a seal of assurance for quality management." (AmeInfo, 2010)
Given these feature as detailed, we see reason enough to also conclude herewith that Emirate NBD quality management feature is a good example of the commitment of the corporation towards its business and most importantly a mark or transition which bridge it closer to aim and objective of being the most renowned banking institution not only in UAE, and the Middle region but also across the global arena.
Capacity and Process Design
What is capacity and process design? Capacity and process design is understood as that factor of the management activities that undertake all operational planning and its strategy at the policy and decisional level with close attention to the realities of the market so as to enhance their business and their reach in the market for the benefit of their customers. It should also be noted that "successful strategic partnership in the policy process is a fundamental element needed to be defined effective strategic partnership strategies for management executives, so as they accumulates all the pros and cons in understanding the environment in which they operate and the agents that interacts in relation to the policy process" (Stone, 2000, p. 117) for enhanced and effective decision making.
Thus, when assimilating these points and its meaning, we can reason as to where the capacity and process design of the company can be identified with. Concerning Emirate NBD, we see reason enough to figure that the management team and board of director are wholly involved in the whole process of capacity building as well as decision making.
Taking a tour of the company website and its details, we come to the knowledge that "an Emirate NBD company detail saliently gives a glimpse of who who's that marked their partnership. At the heart of the Emirate NBD business process capacity and process design are fostered through a close knit partnership with major players such as the subsidiaries companies namely, Emirate Islamic Bank PJSC, who is considered a big fish in the capacity and process design of the company. Apart, in the sections of Emirate Financial Service PSC, global players such as, Diners Club, Network International LLC, Emirates NBD Securities are some of the prominent players that makes the capacity and process design of Emirates NBD. On the other hand, in the Emirate Fund LLC Emirate groups covers much of the overall details concerning capacity and process design. And finally, the associates company" (EmirateNBD, Emirates NBD Company Details) also are one factor that shapes the overall features of Emirate NBD capacity and process design, which also makes it happens for a streamlined process of the company business overall.
Company Location and HRM Processes
Emirate NBD is located at the heart of Dubai city, often regarded as the financial capital of UAE. What composed Emirate NBD HRM and job design at best can be learnt through a tour of the company website and in its career section. At the heart of it, we come to the conclusion that "talent management and leadership development programs are a central focal attention that the company initiates. The bank belief that the success of its business is wholly in their most valued assets, that is human resource or employee, who are often considered the backbone of the company. Hence, individual development plans and all feature of training and meting the nationalization programs or 'Emiratization' or 'Nationalization' is the sole consideration of HR and its activities in the bank and its structure. The end for leadership and all feature of management is greatly being felt. Thus, HR in that regard acts as the success factor to transform and bring about any initiatives that bridge a way to success roadmap of the corporation in its HRM initiatives in the most feasible ways." (EmirateNBD, Talent Management & Leadership Development) The talent and development management of Emirate NBD are instrumental to bring about any change in HR polcis from time to time, besides, HR professional in Emirate NBD are people champions, which means that any factors related to motivational features and all are all accorded in the policies from time to time and fostered accordingly so as to enhance productivity.
Additionally, job designs of the company are carried out in the recruitment plans itself. "the recruitment process in Emirate NBD ensures that opportunities are equal for any selection process, however meeting the criteria of the bank policies is a must. Thus job design also in that capacity which depending on the position for the opening applied for requires to go through the whole process of recruitment in the streamlined manner for evaluation and talent managements, which defines the company structured job designs, namely corporate banking, wholesale banking, support functions, international banking and global market and treasury." (EmirateNBD, Career: Job Oppurtunities )
Thus, considering these segment and job design, we feel that the process of HRM and overall recruitment take a streamlined course to provide an avenue for the best section process that meets the skills sets of the talent pool applicant before selection as incumbents.
Productivity Measurement: Single and Multi Factor
According to reports available with Emirate NBD
Total income for the year 2008 and 2009 stood at AED 6664 million and AED 8278 million respectively, which shows an increase of 24%.
Operating expenses that went into the operational cost overall was calculates at AED 2,667 million and AED 2,525 million for the respective years corresponding to 2009 as compared to 2008, which shows an increase of 6%.
The overall cost that went into operation in ratio of the revenue was AED 3.4 and 36 Billion for 2008 and 2009 that accumulates into revenue of AED 8.4 and 10.8 billion for the respective year of 2008 and 2009.
These difference in multifactor productivity between 2008 and 2009 shows a sharp increase of 29% overall, as per insiders reports.
Hence, multi-factor and single factor calculation of the net profit and balance sheets for the years corresponding 2008 and 2009 respectively a 4% increase was there. However, in between the said period, net profit for 2009 and 2008 stood at AED 3.3 and 3.7 billion. (EmirateNBD, Annual Report 2009, 2009)
Emirates NDB Summary Performance Highlights
According to the financial data retrieved from the company and its analysis, there is a clear indication that the main performance driver for the company in between 2008 and 2009 was accumulated from "strong income that helps drives the efficiency of the company operations, the total income that stood at AED 8.3 billion for the years ending 2009 is an indication as compared to 2008 that stood at AED 6.7 billion. Moreover, cost to income ration also improved dramatically between 2008 and 2009 which stood at 37.9%. And Net profit for 2009 that stood at AED 3.2 billion as compared to AED 3.7 billion for 2008 is also a performance driver. (EmirateNBD, Emirates NBD Announces 2009 Third Quarter Results, 2009)