Business Culture of UAE

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It is a combined study of the business cultures of UAE

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Managerial Oral Communication:

Managerial Oral Communication Group Members Aditi Upredi Anish Sharma Avni Ghodasara Bhagyshree Zope Sakhi Doshi

UAE – An Introduction:

UAE – An Introduction Stands for United Arab Emirates. It consists of 7 federations Abu Dhabi , Ajman , Dubai , Fujairah , Ras al- Khaimah , Sharjah , and Umm al- Quwain . The capital is Abu Dhabi. In 2010, the UAE's population was estimated at 8,264,070. Per capita income – $48,158 (2011) HDI – 0.846 Unemployment Rate – 4% (2008) Inflation Rate – 1.9% (2009)

Economy:

Economy UAE’s major source of income are Petroleum and Gas Exports, Construction, Tourism and Manufacturing and the resulting Service Industry. It is an Open Economy with certain T&C. In 2011 it was regarded as the 14 th best country to do business according to economic and environment policy by World Bank. It has assets worth $1 Trillion invested. One of the few countries with 100% exemption on Duty.

Lifestyle:

Lifestyle Islam is the main religion and hence Islamic ideologies influence a major part of UAE’s lifestyle. Eg they pray 5 times a day. The Economy is a Non-Manufacturing economy and the people over there are technological savvy but people over there are still traditional. Alcohol is prohibited in the entire of UAE but Dubai. Family is given the top most priority . Emirati's as they are called are found of dance and well living. They are known world wide for their hospitality.

Business The Gulf Way:

Business The Gulf Way The working week traditionally starts on Saturday and ends on Wednesday. Thursday and Friday are holidays . The work timing are 9 am to 1 pm and 4.30pm to 8pm. Meetings with Emirati's have to be scheduled in advance and many a times may be cancelled due to various reasons major being a friend or relative visiting (again priority of Family and Friends is higher then business). Attitudes to time in the UAE are much more relaxed than in many Western cultures. People and relationships are more important than schedules and punctuality. It is not uncommon, therefore, for your Emirati counterparts to arrive late but foreigners are expected to arrive on time . Business cards are common but not essential to Emirati business culture . If you do intend to use business cards whilst in the UAE, ensure that the information is printed in both English and Arabic .

Business The Gulf Way - II:

Business The Gulf Way - II It is important to have connections to someone in the UAE who can introduce you before attempting to do business there on your own. Emirati people prefer to do business with those they know, so having someone to introduce you will be of immense benefit to your business relationship . Initial business meetings are often a way to become acquainted with your prospective counterparts. They are generally long in duration and discussions are conducted at a leisurely pace over tea and coffee. Time should be allocated for such business meetings, as they are an essential part of Emirati business culture . DON’T assume that the person who asks the most questions in meetings holds the most responsibility. In the UAE, this person is considered to be the least respected or least important. The decision maker is usually a silent observer and will only speak when discussions come to a close. DON’T ask about a person’s wife or daughters. It is polite to enquire about a person’s family or health, but never ask specifically about any female members. Family life which involves female members is kept extremely private . There is a strong vertical hierarchy in most Emirati companies. Many are owned and run by one powerful person who makes all of the decisions. This person must be treated with respect and deference, particularly if you hope to have a successful business relationship.

Thank You:

Thank You

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