Strong Strategies In Planning And Developing Companies Business Essay

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All the important firms in any field have efficient and strong strategies for planning and developing its business. Successful business depends on a lot of elements that help in continues improving for the organization. The efficient Management system that the organization use is the major key in success of any organization, So that we choose UAE X change as an successful organization to discuss and to closer have look about the elements that helped this success of this organization. One of the important Evidence on the success of this organization is the large number of branches that UAE X change have in many countries which indicate the efficient management system and the effective strategies that the organization is using in order to extend globally and having a good reputation in this field of business. Because of its good reputation UAE X change have, it's considered one of the well known exchange firms in the UAE.

We will discuss the following points :

Organization environment (Internal & External).

Organization chart.

Breakdown Analysis of organization structure.

Comparisons between mechanistic and organic structures.

Organizational life cycle.

Appropriateness and efficiency of technology.

Organization culture.

About UAE Exchange :

UAE X Change one of the leading exchange houses in the Middle East, primarily focusing on money transfers and money exchange, and is part of the NMC Group, one of the biggest and the most prestigious business conglomerates in the UAE since 1980.Also they are partners with Noor Islamic Bank , Visa and many companies around  Middle East. In Addition, they mention in their official website the following " We are an organization which believes in fair management and operational practices, continually motivated to perform to our regulators, customers' and society's high expectations and standard ", and that reflect the importance of organization Theory and Design inside the firm.

Awards :

Dubai Quality Appreciation Program.

Mohammed bin Rashid Al Maktoum Business Award.

Dubai Service Excellence Award.

IAMTN Award for Excellence.

Organization Environment (Internal & External):

The Internal Environment :

The definition of the internal environment is the conditions, events, factors and entities within an organization which influence its choices and its activities and also the behavior of the employees. The importance of mission statement, leadership style "Leaders establish unity of purpose and direction of the organization. They should create and maintain the internal environment in which people can become fully involved in achieving the organization's objectives " and the organizational culture lies in the circle of the internal environment of an organization, therefore if we compared between these elements and the elements of the internal environment of UAE X change company , we will find a typical match because these elements is the main evidence about the success of the organization and that's presented in how the organization performance is well organized in terms of its employees and the whole work

1- Internal company policies are set to maintain the high quality services.

2- Resources that company has, starting from the staff, equipment and facilities.

The External Environment:

The external environment is the aggregate of conditions outside the company that influence the success of its practices. http://exporters-sources.com/the-external-environment-drawing-on-other-disciplines/

Many competitors already existing in the market with high competition.

For example, Al Ansari exchange and Al Ferdan exchange.

 Government policy and Money transfers regulations.

 Customers like and dislikes of technology used by the firm.

Developing and creating new services that designs to satisfy the customers.

Organization Chart:

Organizational chart is a pictorial display of the official lines of authority and communication within an organization. http://www.cliffsnotes.com/study_guide/The-Internal-Environment.topicArticleId-8944,articleId-8860.html

Breakdown Analysis of organization structure:

Formal and informal framework of policies and rules, within which an organization arranges its lines of authority and communications, and allocates rights and duties. Organizational structure determines the manner and extent to which roles, power, and responsibilities are delegated, controlled, and coordinated, and how information flows between levels of management. This structure depends entirely on the organization's objectives and the strategy chosen to achieve them.

Read more: http://www.businessdictionary.com/definition/organizational-structure.html#ixzz18XTvrmyP

Organization structure in UAE X change vertically set, leading by the chairman and follow by CEO. There are different departments in the company, every department have Manager Mange the department and supervise the staff and teams. Each of these departments has a separate recourse, task and goals to achieve in order to achieve the big picture of the company objectives.

Work specialization:

UAE X changes do the specialization inside their departments. They believe hiring specialize staff is one of the keys of success. By doing this the company ensure the efficient way to do the work.

Centralization:

The Centralization is located in the top level in the company which is the chairman. Any decision made should approved by him.

Formalization:

Formalization is the writing rules, policy and documents. As a UAE X change a big company they have a lot of it and they use it to direct and control staff inside the company.

Empowerment of employees:

There are a few employees has empower to take the locally decisions inside the departments and these decisions not have a huge effect in company for long run.

Comparison between Mechanistic and Organic Structure:

Mechanistic Structure

Organic Structure

Employees work separately &specialize in one task

Employees work together and coordinate tasks

Hierarchy of authority well-defined

Task forces and teams are primary integrating mechanisms

Centralization

Decentralization

Much written communication

Much verbal communication

In our Case, UAE X Change follows vertical Mechanistic Structure with some features of Organic structure which make the structure of the company unique. The work activities are broken down into routine jobs and these activities are rigidly defined.

Advantages of Mechanistic Structure :

The company increases there efficiency.

The work activities are divided into precise tasks to reach the higher goals.

Environment is always stable.

Organizational Life Cycle:

Characteristic

Birth stage

Youth stage

Midlife stage

Maturity

Size

Small

Medium

Large

Very large

Bureaucracy

Non-bureaucratic

Pre-bureaucratic

Bureaucratic

Very bureaucratic

Division of labor

Overlapping tasks

Some departments

Many departments; well defined tasks, organization chart

Extensive - written descriptions , small jobs

Centralization

Decision made by one or two person

Top leader

Decentralization to managers in each branch

Top managers decentralized forced. CEO rules

Formalization

Few written rules,

More written rules

procedures and regulations

Extensive most activities covered by Witten rules and serious procedures should be followed

Internal systems

Existed , small

Small budget and bigger information system than before

Control systems in placelarge network

Extensive - planning and financial systems, developed information system

Short-term Objectives:

Improve employees' skills more and more by providing more traingin programs for better customer serve.

Provide to more facilities in services for the customers.

Provide new technologies for efficient work and faster services.

Increase number of trained employees with more experience.

More return on investment.

Long Term Objectives:

Increase number of branches and expand more globally.

Provide new services for customers

Occupy the top position in the business field between the other competitors.

Having more cooperation with other competitors (big names in the X change business) for better business.

Increase the number customer.

Technology :

Technology is a very important and sensitive key of success these types of companies. Exchange firms have a high relay of the technology and communication to do their works and services. By using local and international network system, its help to connect all the management and the staff with clients, banks and other exchange firms.

Organization Culture

Any social system arising from a network of shared ideologies consisting of two components: substance-the networks of meaning associated with ideologies, norms, and values; and forms-the practices whereby the meanings are expressed, affirmed, and communicated to members (Trice and Beyer 1984).

UAE X Change culture is basically multicultural and backgrounds because of variety of customers and society work in.

Issues:

Some of the employees are not motivated enough.

Need more promotion for new services.

Recommendations:

Focus on the training of the staff about quality.

Empowerment more employees.

Conclusion :

At the end, we can say that UAE X Change has a very good place between all competitors in the UAE and that result is of Appling techniques and structure that help the firm to reach their short and long-term goals and future strategies. And we see how the firm relay on technology to do there business in a way efficient with saving costs.

Resources :

www.uaeexchange.com

http://www.businessdictionary.com/definition/internal-environment.html#ixzz18MqijQTt

www.ipc.co.ir/64/section.aspx/72‎

http://www.practical-management.com/Organization-Development/Organization-s-External-Environment.html

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