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Strategic management is a common term used in current management; this term refers to the set of managerial actions and decisions that establish the long-run performance of an organization. This involves the process of conducting environmental scanning within both internal and external environment, formulation of strategy, implementing this strategy as well as evaluation and control. Therefore, strategic management deals with the process of evaluating and monitoring external opportunities as well as threats with regard to the strengths and weaknesses of an organization (Hitt & Ireland, 2011).

Strategic management can also be perceived as the process through which managers identify and continue realizing outstanding performance in an organization and gaining a competitive advantage over its competitors on the market. An organization can be regarded as having a competitive advantage if its profit levels are greater that the average profit levels of all other organizations in the industry. Custom Writing Services

Strategic management can also be described as a bundle of acts and decisions undertaken by a manager that determine the outcome of organization’s performance. Strategic management plays an essential role in incorporating different functional areas of an organization entirely, and ensures that all the functional areas get together and harmonize well. Also, strategic management is concerned with monitoring organizational goals and objectives.

In order to ensure proper strategic management practice for an organization, a manager should possess a broad scope of knowledge and analysis of competitive and general organizational environment in order to make appropriate decisions. The management of an organization should carryout SWOT Analysis, which involves the process of identifying strengths and weaknesses, as well as possible opportunities and threats present within the external environment.

To ensure organizational success, managers should ensure best utilization of strengths of the organization and minimize its weaknesses so as to become competitive in business environment. Additionally, managers should seek for arising opportunities in the business environment and avoid threats as much as possible. This is because threats can produce adverse effects on the performance of an organization.

Strategic management is just a process of planning for anticipated and unfeasible contingencies. It applies to both small and large organizations. This is because small organizations also experience competition of well established firms within the business environment.

Therefore, through formulating and implementing proper strategies, they can achieve a sustainable competitive edge within the business environment. Through strategic management, strategists set organizational objectives and work towards the attainment of those objectives.

Custom Writing Services They deal with the process of making and implementing various decisions concerning the future course of action within the organization. This implies that, strategic management helps in determining the direction towards which a firm is moving.

Strategic management is a constant process that assesses and controls the business as well as the industry where an organization operates. It evaluates various competitors, sets goals and strategies that enable an organization to meet both existing and prospective competitors.

Additionally, through strategic management, a manager re-evaluates strategies regularly in order to determine how various strategies were implemented and whether they were successful or require a replacement.

Moreover, strategic management provides wider perspectives to the organization’s employees, and helps them to comprehend how their respective job fits within the whole organizational plan as well as how it relates to other members of organization.

This implies that strategic management can simply be a skill of managing employees within the organization in a manner which can help to maximize their ability of attaining business objectives. Proper strategic management ensures that employees become more committed, satisfied and trustworthy as they are able to co-relate themselves well with each task within the organization.

Through strategic management, employees are able to comprehend the reactions of various changes within the organizational environment and likely organizational responses. Therefore, employees are in a position to judge the effects of such changes in relation to their job and are able to face the changes more effectively.

This is imperative as managers and employees are supposed to be effective and efficient at all times so as to ensure organizational success.

Strategic Management Practices in the United Arab Emirates Business Environment

The United Arab Emirates has a unique market potential, business environment, legal structures of business, and procedures as well as opportunities for investors on the local and the worldwide market. As a result of their strategic location, the United Arab Emirates has been hosting and offering appropriate business routes for quite a long period of time.

It provides an easy access to consumer markets worth approximately 1.5 billion. These markets are located in Western Asia, Africa, Eastern Europe, the CIS countries as well as in the areas surrounding the Gulf and the Red Sea.

The United Arab Emirates has 6 airports, 11 state-of-the-art ports and satellite links with about 230 nations. This has enabled the United Arab Emirates to become one of the top enter port centers globally.

It competes with the growing tigers of the South East Asia, and it has for a longtime strengthened its position amongst the top oil-producing nations. Currently, the United Arab Emirates leadership is focusing on the industrial development within the country (Al-Ima%u0304ra%u0304t, 2002)(al-Ima%u0304ra%u0304t, 2002).

Despite the fact that the United Arab Emirates has plentiful oil reserves, it endeavors to expand its economic stability and minimize its exposure to unpredictable fluctuations in oil prices.

From the beginning, the United Arab Emirates has undergone a constant and sustained transformation process from a small and poor state to a modern nation having high living standards. As a result of establishment of effective and efficient economic policies, the United Arab Emirates has reduced its reliance on natural gas and oil incomes.

Additionally, it recognized the potential of the private sector, as well as the fact that the country’s business environment attracts both domestic and foreign investors to invest. This has been the core aspect that has enabled business of the United Arab Emirates to grow at a remarkably fast rate (Bains, 2011).

Moreover, the government offers all industrials facilities, and in addition, it has enacted numerous commercial laws and regulations so as to achieve global protection and obligations for investors. This has enabled the state to attract more investors from different parts of the globe, and this has facilitated the growth of the United Arab Emirates business environment (Young, 1999).

In addition, the United Arab Emirates economy is performing well, and it has risen by more than six times for the last 26 years. This has enabled the United Arab Emirates to emerge as the fourth largest economy in the Arab world.

Custom Writing Services In the current years, the United Arab Emirates has experienced rising of pioneer industries as a result of more generous advantages as well as trade incentives granted by the government to investors.

The government has also ensured the simplicity of procedures and formalities for operating business in the United Arab Emirates. This has enabled the government to attract many investors, and as a result, investments have increased.

Custom Writing Services For instance, in the last decade, the United Arab Emirates government increased its investments in the domestic market from about $3.47 billion to approximately $4.93 billion. On the other hand, investment within the business sector amounted to about $5.41 billion from approximately $2.89 billion. Custom Writing Services

The United Arab Emirates provides profitable investment opportunities and investments to both domestic and foreign investors that are extremely rare on the global market. Additionally, free trade zones that have many incentives also play a key role in attracting numerous investors to do business in the United Arab Emirates (Terterov & Tija%u0304rat, 2006).

In general, establishing a business in the United Arab Emirates can be extremely trouble-free and straightforward. Foreign investors are free to participate in many business activities available on the United Arab Emirates market.

Custom Writing Services  Since many entrepreneurs across the globe are searching for a favorable business environment to establish and expand their businesses, then the United Arab Emirates can be the best destination. This is because the country provides an open economy and attractive incentives so as to meet the requirements of all investors.

Literature Review

Currently, the development of real estate investment in both Middle East region and the United Arab Emirates has rapidly increased. This is due to the high concentration of abundant opportunities and capitals for business development in the region. One of the driving forces that have made different investors concentrate on the region is growing economy and increasing local government’s efforts to improve the market economy.

Currently, establishment of a business in the region is remarkably easier compared to some decades ago. With regard to the real estate industry, it is worth noting that this industry attracts investors as both the United Arab Emirates and Middle East attract many tourists. This makes the real estate industry as well as the development of local infrastructure relatively profitable (Elbanna, 2010).

As a result of profitability associated with the real estate industry, many companies endeavor to join this industry. However, entering this industry may be associated with many difficulties due to the state’s strong influence.

On the other hand, companies that are owned or supported by the government have ample opportunities and can expand their investments successfully. This paper focuses on Sama Dubai, which is a state owned company and it operates in the United Arab Emirates.

Recently, Sama Dubai implemented a strategy that will enable the company to expand its operations on the global market. Through this strategy, the company will manage to enter new markets and gain enormous market share of various countries, especially in the Arab world.

In a situation like this, it is imperative to the company’s strategic development as well as its management to ensure that all their operations conform to the strategies of the company. It is also crucial to assess the company’s strengths and weaknesses with regard to current market conditions.

Custom Writing Services  Additionally, it is vital to analyze the available opportunities as well as possible threats that the company may face in the future.