# data[].attributes.body
Do some independent research

1) What are trading blocs?

2) What are the advantages of trading blocs?

3) What are the disadvantages of trading blocs?

Post your ideas to padlet

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Look into your bag, at the tags on your clothing, at your cell phone, etc.  For each person in the group, try to identify where at least one object you have with you was made.  Do some research about this object. Chart your discoveries on Padlet.

# data[].attributes.subject
Look into your bag, at the tags on your clothing, at your cell phone, etc.  For each person in the group, try to identify where at least one object you have with you was made.  Do some research about this object. Chart your discoveries on Padlet.

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Do some independent research and provide on Padlet some of the key benefits and challenges of globalisation

Challenge yourself by referring to a journal article either on google scholar or university of Suffolk to support your point

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Rodrigo Huerta-Quintanilla, Editor

Abstract

This study was carried out to investigate the effect of economic globalization on economic growth in OIC countries. Furthermore, the study examined the effect of complementary policies on the growth effect of globalization. It also investigated whether the growth effect of globalization depends on the income level of countries. Utilizing the generalized method of moments (GMM) estimator within the framework of a dynamic panel data approach, we provide evidence which suggests that economic globalization has statistically significant impact on economic growth in OIC countries. The results indicate that this positive effect is increased in the countries with better-educated workers and well-developed financial systems. Our finding shows that the effect of economic globalization also depends on the country's level of income. High and middle-income countries benefit from globalization whereas low-income countries do not gain from it. In fact, the countries should receive the appropriate income level to be benefited from globalization. Economic globalization not only directly promotes growth but also indirectly does so via complementary reforms.

Introduction

Globalization, as a complicated process, is not a new phenomenon and our world has experienced its effects on different aspects of lives such as economical, social, environmental and political from many years ago [1]-[4]. Economic globalization includes flows of goods and services across borders, international capital flows, reduction in tariffs and trade barriers, immigration, and the spread of technology, and knowledge beyond borders. It is source of much debate and conflict like any source of great power.

The broad effects of globalization on different aspects of life grab a great deal of attention over the past three decades. As countries, especially developing countries are speeding up their openness in recent years the concern about globalization and its different effects on economic growth, poverty, inequality, environment and cultural dominance are increased. As a significant subset of the developing world, Organization of Islamic Cooperation (OIC) countries are also faced by opportunities and costs of globalization. Figure 1 shows the upward trend of economic globalization among different income group of OIC countries.

Although OICs are rich in natural resources, these resources were not being used efficiently. It seems that finding new ways to use the OICs economic capacity more efficiently are important and necessary for them to improve their economic situation in the world. Among the areas where globalization is thought, the link between economic growth and globalization has been become focus of attention by many researchers. Improving economic growth is the aim of policy makers as it shows the success of nations. Due to the increasing trend of globalization, finding the effect of globalization on economic growth is prominent.

The net effect of globalization on economic growth remains puzzling since previous empirical analysis did not support the existent of a systematic positive or negative impact of globalization on growth. Most of these studies suffer from econometrics shortcoming, narrow definition of globalization and small number of countries. The effect of economic globalization on the economic growth in OICs is also ambiguous. Existing empirical studies have not indicated the positive or negative impact of globalization in OICs. The relationship between economic globalization and economic growth is important especially for economic policies.

Recently, researchers have claimed that the growth effects of globalization depend on the economic structure of the countries during the process of globalization. The impact of globalization on economic growth of countries also could be changed by the set of complementary policies such as improvement in human capital and financial system. In fact, globalization by itself does not increase or decrease economic growth. The effect of complementary policies is very important as it helps countries to be successful in globalization process.

In this paper, we examine the relationship between economic globalization and growth in panel of selected OIC countries over the period 1980-2008. Furthermore, we would explore whether the growth effects of economic globalization depend on the set of complementary policies and income level of OIC countries.

The paper is organized as follows. The next section consists of a review of relevant studies on the impact of globalization on growth. Afterward the model specification is described. It is followed by the methodology of this study as well as the data sets that are utilized in the estimation of the model and the empirical strategy. Then, the econometric results are reported and discussed. The last section summarizes and concludes the paper with important issues on policy implications.

Literature Review

The relationship between globalization and growth is a heated and highly debated topic on the growth and development literature. Yet, this issue is far from being resolved. Theoretical growth studies report at best a contradictory and inconclusive discussion on the relationship between globalization and growth. Some of the studies found positive the effect of globalization on growth through effective allocation of domestic resources, diffusion of technology, improvement in factor productivity and augmentation of capital [5], [6]. In contrast, others argued that globalization has harmful effect on growth in countries with weak institutions and political instability and in countries, which specialized in ineffective activities in the process of globalization [5], [7], [8].

Given the conflicting theoretical views, many studies have been empirically examined the impact of the globalization on economic growth in developed and developing countries. Generally, the literature on the globalization-economic growth nexus provides at least three schools of thought. First, many studies support the idea that globalization accentuates economic growth [9]-[19]. Pioneering early studies include Dollar [9], Sachs et al. [15] and Edwards [11], who examined the impact of trade openness by using different index on economic growth. The findings of these studies implied that openness is associated with more rapid growth.

In 2006, Dreher introduced a new comprehensive index of globalization, KOF, to examine the impact of globalization on growth in an unbalanced dynamic panel of 123 countries between 1970 and 2000. The overall result showed that globalization promotes economic growth. The economic and social dimensions have positive impact on growth whereas political dimension has no effect on growth. The robustness of the results of Dreher [19] is approved by Rao and Vadlamannati [20] which use KOF and examine its impact on growth rate of 21 African countries during 1970-2005. The positive effect of globalization on economic growth is also confirmed by the extreme bounds analysis. The result indicated that the positive effect of globalization on growth is larger than the effect of investment on growth.

The second school of thought, which supported by some scholars such as Alesina et al. [21], Rodrik [22] and Rodriguez and Rodrik [23], has been more reserve in supporting the globalization-led growth nexus. Rodriguez and Rodrik [23] challenged the robustness of Dollar (1992), Sachs, Warner et al. (1995) and Edwards [11] studies. They believed that weak evidence support the idea of positive relationship between openness and growth. They mentioned the lack of control for some prominent growth indicators as well as using incomprehensive trade openness index as shortcomings of these works. Warner [24] refuted the results of Rodriguez and Rodrik (2000). He mentioned that Rodriguez and Rodrik (2000) used an uncommon index to measure trade restriction (tariffs revenues divided by imports). Warner (2003) explained that they ignored all other barriers on trade and suggested using only the tariffs and quotas of textbook trade policy to measure trade restriction in countries.

Krugman [25] strongly disagreed with the argument that international financial integration is a major engine of economic development. This is because capital is not an important factor to increase economic development and the large flows of capital from rich to poor countries have never occurred. Therefore, developing countries are unlikely to increase economic growth through financial openness. Levine [26] was more optimistic about the impact of financial liberalization than Krugman. He concluded, based on theory and empirical evidences, that the domestic financial system has a prominent effect on economic growth through boosting total factor productivity. The factors that improve the functioning of domestic financial markets and banks like financial integration can stimulate improvements in resource allocation and boost economic growth.

The third school of thoughts covers the studies that found nonlinear relationship between globalization and growth with emphasis on the effect of complementary policies. Borensztein, De Gregorio et al. (1998) investigated the impact of FDI on economic growth in a cross-country framework by developing a model of endogenous growth to examine the role of FDI in the economic growth in developing countries. They found that FDI, which is measured by the fraction of products produced by foreign firms in the total number of products, reduces the costs of introducing new varieties of capital goods, thus increasing the rate at which new capital goods are introduced. The results showed a strong complementary effect between stock of human capital and FDI to enhance economic growth. They interpreted this finding with the observation that the advanced technology, brought by FDI, increases the growth rate of host economy when the country has sufficient level of human capital. In this situation, the FDI is more productive than domestic investment.

Calderón and Poggio [27] examined the structural factors that may have impact on growth effect of trade openness. The growth benefits of rising trade openness are conditional on the level of progress in structural areas including education, innovation, infrastructure, institutions, the regulatory framework, and financial development. Indeed, they found that the lack of progress in these areas could restrict the potential benefits of trade openness. Chang et al. [28] found that the growth effects of openness may be significantly improved when the investment in human capital is stronger, financial markets are deeper, price inflation is lower, and public infrastructure is more readily available. Gu and Dong [29] emphasized that the harmful or useful growth effect of financial globalization heavily depends on the level of financial development of economies. In fact, if financial openness happens without any improvement in the financial system of countries, growth will replace by volatility.

However, the review of the empirical literature indicates that the impact of the economic globalization on economic growth is influenced by sample, econometric techniques, period specifications, observed and unobserved country-specific effects. Most of the literature in the field of globalization, concentrates on the effect of trade or foreign capital volume (de facto indices) on economic growth. The problem is that de facto indices do not proportionally capture trade and financial globalization policies. The rate of protections and tariff need to be accounted since they are policy based variables, capturing the severity of trade restrictions in a country. Therefore, globalization index should contain trade and capital restrictions as well as trade and capital volume. Thus, this paper avoids this problem by using a comprehensive index which called KOF [30]. The economic dimension of this index captures the volume and restriction of trade and capital flow of countries.

Despite the numerous studies, the effect of economic globalization on economic growth in OIC is still scarce. The results of recent studies on the effect of globalization in OICs are not significant, as they have not examined the impact of globalization by empirical model such as Zeinelabdin [31] and Dabour [32]. Those that used empirical model, investigated the effect of globalization for one country such as Ates [33] and Oyvat [34], or did it for some OIC members in different groups such as East Asia by Guillaumin [35] or as group of developing countries by Haddad et al. [36] and Warner [24]. Therefore, the aim of this study is filling the gap in research devoted solely to investigate the effects of economic globalization on growth in selected OICs. In addition, the study will consider the impact of complimentary polices on the growth effects of globalization in selected OIC countries.

Model Specification

This study uses a dynamic panel data model to investigate the effect of globalization on economic growth. The model can be shown as follows:

where i is country index, t is time index, and are the parameters to be estimated, GDP is the logarithm of real GDP per capita, KOF is economic globalization, CV is a vector of other control variables that affect economic growth, is unobserved country-specific effect term, and is the usual error term. The group of control variables is comprised of variables frequently used in the growth literature including government consumption, secondary school enrolment as a proxy for human capital, inflation (consumer price index), domestic investment, liquid liability to capture the financial development and ICRG as an index for institutional quality.

Methodology and Data

In Eq.1, the existence of lag per capita GDP produces the well-known dynamic panel bias due to the correlation between the and disturbance term, . In other words, is a function of , as is time-invariant, therefore, is also a function of . It means that Eq. 1 has a severe endogeneity problem that happens when the lag of dependent variable, as one of the regressors, is correlated with one component of the error term [37]. In addition, In Eq.1, the fixed effects or time-invariant country characteristics ( ), might be correlated with the explanatory variables which violates the assumptions underlying the classical linear regression model. In this case, the simple ordinary least squares (OLS) or fixed and random effects approaches can produce highly misleading results.

This paper applies the generalized method of moments (GMM) panel estimator first suggested by Anderson and Hsiao [38] and later developed further by Arellano and Bond [39]. This flexible method requires only weak assumption that makes it one of the most widely used econometric techniques especially in growth studies. The dynamic GMM procedure is as follow: first, to eliminate the individual effect form dynamic growth model, the method takes differences. Then, it instruments the right hand side variables by using their lagged values. The last step is to eliminate the inconsistency arising from the endogeneity of the explanatory variables.

The consistency of the GMM estimator depends on two specification tests. The first is a Sargan test of over-identifying restrictions, which tests the overall validity of the instruments. Failure to reject the null hypothesis gives support to the model. The second test examines the null hypothesis that the error term is not serially correlated.

The GMM can be applied in one- or two-step variants. The one-step estimators use weighting matrices that are independent of estimated parameters, whereas the two-step GMM estimator uses the so-called optimal weighting matrices in which the moment conditions are weighted by a consistent estimate of their covariance matrix. However, the use of the two-step estimator in small samples, as in our study, has problem derived from proliferation of instruments. Furthermore, the estimated standard errors of the two-step GMM estimator tend to be small. Consequently, this paper employs the one-step GMM estimator.

In the specification, year dummies are used as instrument variable because other regressors are not strictly exogenous. The maximum lags length of independent variable which used as instrument is 2 to select the optimal lag, the AR(1) and AR(2) statistics are employed. There is convincing evidence that too many moment conditions introduce bias while increasing efficiency. It is, therefore, suggested that a subset of these moment conditions can be used to take advantage of the trade-off between the reduction in bias and the loss in efficiency. We restrict the moment conditions to a maximum of two lags on the dependent variable.

Data and Empirical Strategy

We estimated Eq. (1) using the GMM estimator based on a panel of 33 OIC countries. Table S1 in File S1 lists the countries and their income groups in the sample. The choice of countries selected for this study is primarily dictated by availability of reliable data over the sample period among all OIC countries. The panel covers the period 1980-2008 and is unbalanced. Following [40], we use annual data in order to maximize sample size and to identify the parameters of interest more precisely. In fact, averaging out data removes useful variation from the data, which could help to identify the parameters of interest with more precision.

The dependent variable in our sample is logged per capita real GDP, using the purchasing power parity (PPP) exchange rates and is obtained from the Penn World Table (PWT 7.0). The economic dimension of KOF index is derived from Dreher et al. [41]. We use some other variables, along with economic globalization to control other factors influenced economic growth. Table S2 in File S2 shows the variables, their proxies and source that they obtain.

We relied on the three main approaches to capture the effects of economic globalization on economic growth in OIC countries. The first one is the baseline specification (Eq. (1)) which estimates the effect of economic globalization on economic growth.

The second approach is to examine whether the effect of globalization on growth depends on the complementary policies in the form of level of human capital and financial development. To test, the interactions of economic globalization and financial development (KOF*FD) and economic globalization and human capital (KOF*HCS) are included as additional explanatory variables, apart from the standard variables used in the growth equation. The KOF, HCS and FD are included in the model individually as well for two reasons. First, the significance of the interaction term may be the result of the omission of these variables by themselves. Thus, in that way, it can be tested jointly whether these variables affect growth by themselves or through the interaction term. Second, to ensure that the interaction term did not proxy for KOF, HCS or FD, these variables were included in the regression independently.

In the third approach, in order to study the role of income level of countries on the growth effect of globalization, the countries are split based on income level. Accordingly, countries were classified into three groups: high-income countries (3), middle-income (21) and low-income (9) countries. Next, dummy variables were created for high-income (Dum 3), middle-income (Dum 2) and low-income (Dum 1) groups. Then interaction terms were created for dummy variables and KOF. These interactions will be added to the baseline specification.

Findings and Discussion

This section presents the empirical results of three approaches, based on the GMM -dynamic panel data; in Tables 1 - 3 . Table 1 presents a preliminary analysis on the effects of economic globalization on growth. Table 2 displays coefficient estimates obtained from the baseline specification, which used added two interaction terms of economic globalization and financial development and economic globalization and human capital. Table 3 reports the coefficients estimate from a specification that uses dummies to capture the impact of income level of OIC countries on the growth effect of globalization.

Table 1

Variables

Coefficient

t-statistics

p-value

Countries

33

Sargan Test

0.45

0.000

0.601

Table 2

Variables

Human capital

Financial development

KOF

0. 41(2.88)***

0.15 (0.86)

KOF *FD

-

0.001 (6.32)***

KOF *HC

0.002 (8.40)***

-

Countries

33

33

0.373

0.93

0.000

0.000

0.115

0.387

Table 3

Variables

Coefficient

t-statistics

p-value

0.000

0.152

The results in Table 1 indicate that economic globalization has positive impact on growth and the coefficient is significant at 1 percent level. The positive effect is consistent with the bulk of the existing empirical literature that support beneficial effect of globalization on economic growth [9], [11], [13], [19], [42], [43].

According to the theoretical literature, globalization enhances economic growth by allocating resources more efficiently as OIC countries that can be specialized in activities with comparative advantages. By increasing the size of markets through globalization, these countries can be benefited from economic of scale, lower cost of research and knowledge spillovers. It also augments capital in OICs as they provide a higher return to capital. It has raised productivity and innovation, supported the spread of knowledge and new technologies as the important factors in the process of development. The results also indicate that growth is enhanced by lower level of government expenditure, lower level of inflation, higher level of human capital, deeper financial development, more domestic investment and better institutions.

Table 2 represents that the coefficients on the interaction between the KOF, HCS and FD are statistically significant at 1% level and with the positive sign. The findings indicate that economic globalization not only directly promotes growth but also indirectly does via complementary reforms. On the other hand, the positive effect of economic globalization can be significantly enhanced if some complementary reforms in terms of human capital and financial development are undertaken.

In fact, the implementation of new technologies transferred from advanced economies requires skilled workers. The results of this study confirm the importance of increasing educated workers as a complementary policy in progressing globalization. However, countries with higher level of human capital can be better and faster to imitate and implement the transferred technologies. Besides, the financial openness brings along the knowledge and managerial for implementing the new technology. It can be helpful in improving the level of human capital in host countries. Moreover, the strong and well-functioned financial systems can lead the flow of foreign capital to the productive and compatible sectors in developing countries. Overall, with higher level of human capital and stronger financial systems, the globalized countries benefit from the growth effect of globalization. The obtained results supported by previous studies in relative to financial and trade globalization such as [5], [27], [44], [45].

Table (3 ) shows that the estimated coefficients on KOF*dum3 and KOF*dum2 are statistically significant at the 5% level with positive sign. The KOF*dum1 is statistically significant with negative sign. It means that increase in economic globalization in high and middle-income countries boost economic growth but this effect is diverse for low-income countries. The reason might be related to economic structure of these countries that are not received to the initial condition necessary to be benefited from globalization. In fact, countries should be received to the appropriate income level to be benefited by globalization.

The diagnostic tests in tables 1 - 3 show that the estimated equation is free from simultaneity bias and second-order correlation. The results of Sargan test accept the null hypothesis that supports the validity of the instrument use in dynamic GMM.

Conclusions and Implications

Numerous researchers have investigated the impact of economic globalization on economic growth. Unfortunately, theoretical and the empirical literature have produced conflicting conclusions that need more investigation. The current study shed light on the growth effect of globalization by using a comprehensive index for globalization and applying a robust econometrics technique. Specifically, this paper assesses whether the growth effects of globalization depend on the complementary polices as well as income level of OIC countries.

Using a panel data of OIC countries over the 1980-2008 period, we draw three important conclusions from the empirical analysis. First, the coefficient measuring the effect of the economic globalization on growth was positive and significant, indicating that economic globalization affects economic growth of OIC countries in a positive way. Second, the positive effect of globalization on growth is increased in countries with higher level of human capital and deeper financial development. Finally, economic globalization does affect growth, whether the effect is beneficial depends on the level of income of each group. It means that economies should have some initial condition to be benefited from the positive effects of globalization. The results explain why some countries have been successful in globalizing world and others not.

The findings of our study suggest that public policies designed to integrate to the world might are not optimal for economic growth by itself. Economic globalization not only directly promotes growth but also indirectly does so via complementary reforms.

The policy implications of this study are relatively straightforward. Integrating to the global economy is only one part of the story. The other is how to benefits more from globalization. In this respect, the responsibility of policymakers is to improve the level of educated workers and strength of financial systems to get more opportunities from globalization. These economic policies are important not only in their own right, but also in helping developing countries to derive the benefits of globalization.

However, implementation of new technologies transferred from advanced economies requires skilled workers. The results of this study confirm the importance of increasing educated workers as a complementary policy in progressing globalization. In fact, countries with higher level of human capital can better and faster imitate and implement the transferred technologies. The higher level of human capital and certain skill of human capital determine whether technology is successfully absorbed across countries. This shows the importance of human capital in the success of countries in the globalizing world.

Financial openness in the form of FDI brings along the knowledge and managerial for implementing the new technology. It can be helpful in upgrading the level of human capital in host countries. Moreover, strong and well-functioned financial systems can lead the flow of foreign capital to the productive and compatible sectors in OICs.

In addition, the results show that economic globalization does affect growth, whether the effect is beneficial depends on the level of income of countries. High and middle income countries benefit from globalization whereas low-income countries do not gain from it. As Birdsall [46] mentioned globalization is fundamentally asymmetric for poor countries, because their economic structure and markets are asymmetric. So, the risks of globalization hurt the poor more. The structure of the export of low-income countries heavily depends on primary commodity and natural resource which make them vulnerable to the global shocks.

The major research limitation of this study was the failure to collect data for all OIC countries. Therefore future research for all OIC countries would shed light on the relationship between economic globalization and economic growth.

Supporting Information

File S1

Sample of Countries.

(DOCX)

File S2

The Name and Definition of Indicators.

(DOCX)

Funding Statement

The study is supported by the Ministry of Higher Education of Malaysia, Malaysian International Scholarship (MIS). The funders had no role in study design, data collection and analysis, decision to publish, or preparation of the manuscript.

References

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3. Collins W, Williamson J (1999) Capital goods prices, global capital markets and accumulation: 1870-1950. NBER Working Paper No.7145.

4. Obstfeld M, Taylor A (1997) The great depression as a watershed: international capital mobility over the long run. In: D M, Bordo CG, and Eugene N White, editors. The Defining Moment: The Great Depression and the American Economy in the Twentieth Century. Chicago and London: University of Chicago Press: NBER Project Report series. 353-402.

7. De Melo J, Gourdon J, Maystre N (2008) Openness, Inequality and Poverty: Endowments Matter. World Bank Policy Research Working Paper No.3981.

8. Berg A, Krueger AO (2003) Trade, growth, and poverty: a selective survey. IMF Working Papers No.1047.

16. Barro R, Sala-i-Martin X (2004) Economic Growth. New York: McGraw Hill.

21. Alesina A, Grilli V, Milesi-Ferretti G, Center L, del Tesoro M (1994) The political economy of capital controls. In: Leiderman L, Razin A, editors. Capital Mobility: The Impact on Consumption, Investment and Growth. Cambridge: Cambridge University Press. 289-321.

22. Rodrik D (1998) Who needs capital-account convertibility? In: Fischer S, editor. Should the IMF Pursue Capital Account Convertibility?, Essays in international finance. Princeton: Department of Economics, Princeton University. 55-65.

25. Krugman P (1993) International Finance and Economic Development. In: Giovannini A, editor. Finance and Development: Issues and Experience. Cambridge Cambridge University Press. 11-24.

27. Calderón C, Poggio V (2010) Trade and Economic Growth Evidence on the Role of Complementarities for CAFTA-DR Countries. World Bank Policy Research, Working Paper No.5426.

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36. Haddad ME, Lim JJ, Saborowski C (2010) Trade Openness Reduces Growth Volatility When Countries are Well Diversified. Policy Research Working Paper Series NO. 5222.

37. Mammi I (2012) Essays in GMM estimation of dynamic panel data models. Lucca, Italy: IMT Institute for Advanced Studies.

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44. Alfaro L, Chanda A, Kalemli-Ozcan S, Sayek S (2006) How does foreign direct investment promote economic growth? Exploring the effects of financial markets on linkages. National Bureau of Economic Research working paper.

46. Birdsall N (2002) A stormy day on an open field: asymmetry and convergence in the global economy. In: Gruen D, O'Brien T, Lawson J, editors. Globalisation, living standards and inequality. Sydney: Reserve Bank of Australia and Australian. 66-87.

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Articles from PLOS ONE are provided here courtesy of PLOS

# data[].attributes.attachment_link.title
Globalization and Economic Growth: Empirical Evidence on the Role of Complementarities

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This study was carried out to investigate the effect of economic globalization on economic growth in OIC countries. Furthermore, the study examined the effect of complementary policies on the growth effect of globalization. It also investigated whether ...

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A Study on the Economic Benefits of Globalization: Focusing on the Poverty and Inequality between the Rich and the Poor

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A Study on the Economic Benefits of Globalization: Focusing on the Poverty and Inequality between the Rich and the Poor

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Gina

Acces to new markets

Sharing knowledge, technology and culture

Lower costs for products

Worker exploitation

High investment

Taxes across borders

International recruiting

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•Businessese expand

•Buying/selling on international market

•Avoid market saturation

•Share of businesses/Goods all over the world

•Share of languages/cultures…

•Technology development/social media/communications

•Sharing knowledge

-Increasing competition

-Loss of cultural identity

-Global expansion difficulties

-Immigration challenges and loss of local jobs

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Poor countries have more access to foreign capital investment, employment options and consumer opportunities (Butler, 2021).

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People in these days have better quality and value of the products + worldwide choice (Butler, 2021).

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Nike is by far one of the most successful brands on Earth. If you're looking to grow your brand, then you should follow in the footsteps of the greats.
Nike. One of the most successful global brands to this date. They are experts in product design, marketing, and branding their business. But why are we bootlicking Nike? (pardon the pun). Well, because businesses all around the globe can learn something from the sportswear titan and international brand.

You should always follow the example of a business that has built themselves up and become a household name. Nike's brand journey is one of importance in the world of marketing, branding and advertising.

So, kick back. Relax. And get ready to learn all about one of the biggest brands in the world. We'll be covering a brief history of the brand, as well as various marketing, branding and advertising strategies they've implemented over the years - that earned them some serious cash and a global positioning. Everything you learn from this blog can be applied to your business, and brand culture. So, if global positioning and dominance is your aim, then you need to keep scrolling through and reading our post! It all begins, now...

Nike's History

Founded back in 1964, where it was previously known as Blue Ribbon Sports until 1971, the brand has come a long way. The founders, Bill Bowerman and Phil Knight, began making trainers for track athletes at the University of Oregon. Like we've mentioned, the company rebranded as Nike.Inc in 1971, named after the Greek goddess of victory. However, the iconic logo was not incorporated into the brand identity until they took the goddess' name. It was designed by Carolyn Davidson, a graphic design student, and was paid a mere $35 for her design. Now, the logo is famous and globally recognised as a part of Nike's core international brand. It's acquired many footwear companies and other sports brands (including Converse [Chuck Taylor AllStar] and Umbro).

In their first year of business, they made an admirable $8000 profit, but in 2017, the company was valued at $29.6 billion. Big change. But, how did the brand grow to such heights and become a global success?

How Did Nike Grow?

Nike has continued to sell sportswear, but moved into different product lines like selling streetwear and sports equipment too. But their business has grown exponentially over the years, due to their smart marketing and global strategies. See, with the right marketing, any business can be a success. It just takes time and investment, and Nike has undoubtedly invested.

If you want to launch a brand into global success, then you need to execute your branding and marketing campaigns in the right way. How has Nike marketed their business and product lines so well over the years?

1. Working with Big Names

One of the most significant parts of Nike's initial marketing strategy was to collaborate with basketball legend Michael Jordan, to create Air Jordans back in 1984. Jordan has been associated with the brand identity, rolling out millions of pairs of Air Jordans across the globe. In the early days of Nike, when they were primarily a sports brand, they collaborated with athletes from around the world, including Cristiano Ronaldo and Tiger Woods. They have made kits and trainers for various sports teams around the US and the globe. When Nike began branching into casual and streetwear, the brand collaborated with celebrities too. To this day, celebrities are thought to have more influence on the trainer market than athletes now. Associating a brand with the right industry professional is key to market a business well.

2. Being Consistent

At the heart of Nike's brand is the swoosh logo. We all recognise the Nike tick from a mile away, and that's because it has been part of the brand's logo since 1971. Here's the logo (as of 1995) below.

Even Nike's signature slogan has been the same for 30+ years - Just Do It. They've remained consistent in their branding and global marketing strategies throughout the duration of the company. See, through maintaining their brand and visual identity, they've become a reputable company which is recognised globally. Brand consistency puts businesses in a trustworthy light, which makes consumers want to purchase their products or services. It's a master marketing move, to make people want things that they don't actually need. And these people buy things because they trust the brand and corporate identity.

3. Making a Splash

Nike's biggest strength is that they continually innovate and aren't afraid to shy away from bold branding and advertising campaigns. It's essential for a business to make themselves known. To constantly push boundaries and stay with the times. Many companies have moved into creating eco-friendly products, for example, but Nike do this and more. They improve trainers with new technology, stay on trend with the latest fashion and create adverts that you remember. Because that's one of the key ways to success; being memorable.

Below, is the most recent ad from Nike for Dream with Us campaign. See what we mean, memorable.

Nike's Emotive Branding

A notable quality of Nike's branding is its emphasis on emotional engagement visual identity. When Nike start a new marketing campaign, there's always the touch of emotion behind each ad, poster or product release. You can see the effect of this emotive advertising in the clip above. The world coming together to effectively save it, and making everyone a hero. If you're not too sure what we mean, then we'll go into more detail below.

Nike's branding places the consumer as a hero, much like the goddess of victory. Through their global advertising, there's a focus of being someone better, actively doing something - Just Do It and all that. Nike is notorious for empowering women in their branding and marketing campaigns and creating a culture of being your best self.

This form of emotional advertising is everywhere, not just in Nike's brand. Charities want you to feel sympathy in their ads, chocolate companies want you to feel hungry, and loan companies want you to feel supported - and it works. People take out loans, donate to charity, buy Cadbury's and buy Nike products. Because creating a brand that evokes emotion is key to winning over your target audience.

Dealing with Bad Press

Like with most huge companies, Nike has had some public slip-ups. But what's more important is their recovery from bad press. When it was found that Nike was using underpaid workers overseas, they rectified this by setting up standards, working with registered factories only and being completely transparent about all their workings. That's the key to responding to negativity, admitting mistakes and rectifying them quickly and correctly.

Any company can face bad press at times, be it on a local or global scale. Humility is a quality that public businesses lack, and this opaqueness does not go down well with consumers. Transparency becomes key for brands both big and small, to admit their failings and rectify them in the best possible way.

Nike's Business Values

'To bring inspiration and innovation to every athlete in the world. If you have a body, you are an athlete.' - Nike's Mission Statement

As with any business, Nike has a robust set of core values at the heart of their branding. Nike's mission statement is to inspire and innovate on a global scale. Adapting from their origins of supplying trainers to athletes, they've evolved to focus on everyone, all across the globe.

The massive brand is a socially conscious business, meaning they focus on improving the world, and target audience around them. They talk about keeping kids active and healthy, lowering carbon emissions and investing in preventative HIV measures in developing countries. What businesses can learn from Nike is that integrating their brand identity into the community can do wonders for it. Sponsoring sports teams or even charities works on both a local and global scale, so even smaller businesses can just do it (couldn't resist).

Social Media

Another thing the brand gets right is managing their social media. Social Media marketing has grown into one of the leading forms of digital marketing over the past 5 or so years. The social media networks can be used to cultivate your online image as well as advertise it too.

Nike has a whopping 87.6 million followers on Instagram alone. Their social following across various networks is an impressive number, as they tower above their competitors, such as Adidas. That's because they retain this brand consistency throughout the entirety of their business, and that extends to their social media too. A balanced mix of emotive advertising and product features levels their pages out. All their social media channels strike the right balance between ads and lifestyle also.

What businesses can learn from Nike is that consistency is critical. Your brand needs to cross between everything from your website, products and even social media too. It's also about striking the right balance, to not over-saturate target audience with promotional content. We've spoken in other blog posts about creating an enriching experience for the consumer via social media.

Following Suit

So, after all of this, what can your business learn from Nike? We understand that not everyone is a sportswear/street brand with over 50 years' experience. But Nike's marketing and branding techniques and methodology are all transferable tactics you can implement to almost any business.

You can work with the right people to promote and market your business. They don't need to be of celebrity stature, but influencers and affiliate marketing is a proven method of selling both products and services online. Retaining brand consistency is a great way to ensure consumer trust in your brand, one that they'll recognise for years to come and always come back to. Like Nike, make your advertising bold, distinctive and memorable, any business can do it with the right creatives behind campaigns.

Learn how to brand your business in the right way; use emotive advertising to really inspire and engage an audience. Another critical aspect is to be human and retain a certain degree of humility. Be transparent about your failings and be honest with your consumers; they're the ones that make a business successful after all. Set your key values at the forefront of your business, make sure you keep up with the times and trends - if you're an environmentally conscious company, boast it!

Advertise the charities you work with and what you do for the environment or the local community. It works on every level. Finally, refine your social media presence. Maintain that brand consistency throughout your profiles. Create content that both promotes and enriches an audience; it can do wonders for your business.

All of this can help your business grow. If you need a hand implementing these digital marketing techniques, give us a call or drop us a message. We'll work alongside you to grow your brand further and further!

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Nike - The Global Brand's Journey | Revive Digital

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Nike is by far one of the most successful brands on Earth. We'll be covering a brief history of the brand, as well as various marketing strategies they've implemented over the years. If you're looking to grow your brand, then you should follow in the footsteps of the greats. Like Nike.

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in 1966 2 Brothers Paul Van Doren and Jim Van Doren With partners open The Van Doren Rubber Company.

Early 1970 SKATEBOARDERS WHO LIKE VANS' RUGGED MAKE-UP AND STICKY SOLE ARE SEEN SPORTING VANS ALL OVER SOUTHERN CALIFORNIA.

From 1970 to - 2004 they been selling as a skateboarders shoes.

2004 They open website vans.com. allowing would be fashion designers to create their own Classic Slip-ons utilizing hundreds of different color and pattern combinations.

2006 Vans launches an extensive apparel collection for both men and women.

2010 Vans opens the House of Vans event space in Brooklyn, skate and event space in New York with music by Public Enemy and a hard charging bowl session headlined by skate legends Tony Alva,Steve Caballero and Omar Hassan.

2013 Vans collaborates with rock band Metallica and Disney.

2014 Vans teams up with the Beatles franchise to create the Spring 2014 The Beatles Yellow Submarine by Vans collection

2016 On March 16, 2016, Vans celebrates 50 years of “Off The Wall” heritage with the launch of The Story of Vans campaign.

2017 Vans and Karl Lagerfeld announce the launch of an exclusive Vans x Karl Lagerfeld capsule collection in September.

2023 Vans celebrates 31 years of the Half Cab, the world’s most iconic signature skateboarding shoes.

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Nike, Inc., was founded in 1964 under the name Blue Ribbon Sports and officially became Nike in 1971. It is a sportswear company that started with footwear but has since become the largest sportswear company in the world with products ranging from shoes and clothing to smart devices. It now has more than 700 plants located throughout 42 countries and has a brand value of $34.8 billion worldwide. It was able to create innovative shoes that changed the industry. Other than its superior products, it was able to expand thanks to its use of global marketing strategies to help expand its business globally and gain market share everywhere. Nike was able to use social media presence and strategic partnership and sponsorship to gain global consumers and market share.

Nike was one of the first companies to utilize the technological advancement of the internet and social media. It was an early adopter of email marketing, internet marketing, and broadcast communication. It also understands the impact social media can have on connecting with consumers and creating a brand image. Nike has gained over 33 million followers on Facebook and 141 million on Instagram. It uses its social media presence to share its newest products and campaigns to consumers globally. Nike also often promotes its products and posts ads through Facebook and Instagram.

Nike also utilizes partnerships and sponsors as international marketing channels to engage with their international consumers. Nike partners with many world-class athletes like Michael Jordan, Neymar, Christiano Ronaldo and Tiger Woods to name a few. These athletes have fans all over the world, especially in their home region. For example, Neymar has a huge following from his home nation of Brazil and Christiano Ronaldo has similar followings in Portugal. By partnering with these athletes, Nike can easily connect with these audiences from different countries that might otherwise be hard to connect with. Many consumers also see these athletes as their role models and idols so what they wear can have a huge influence on their fans' purchase decisions. Nike also sponsors many sports teams and sporting events worldwide. This helps Nike reach the audiences of these sporting events gaining even more consumers.

Nike is constantly trying to expand their customer base not just in the US but globally. They have a strong foundation for global expansion and will continue to be the leader in the sportswear industry.

Citation:

www.daytranslations.com/blog/nike-expands-globally/
https://blog.unmetric.com/nike-social-media

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Nike's Global Expansion - Global Marketing Professor

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Nike, Inc., was founded in 1964 under the name Blue Ribbon Sports and officially became Nike in 1971. It is a sportswear company that started with footwear

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Rolex Watch

•Originally founded in 1905 in London by a 24-year-old Hans Wilsdorf and brother-in-law Alfred Davis, Rolex was first known as Wilsdorf and Davis.

And the company were established in 1915 .

• Rolex doesn’t go in or out of fashion

•High quality

•Premium design

•Best-of-best material used

•Inventing the first waterproof wristwatch

•Rolex invented the blue parachrom hairspring which made the watch’s movement 10 times more resistant to shocks while remaining unaffected by magnetic fields.

•For the divers, Rolex created the Submariner in 1953, which was the first divers’ watch that was waterproof up to 100 meters. This watch also featured a rotating bezel that allowed divers to measure their time underwater, crucial for knowing their remaining oxygen.

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World Bank is a unique global partnership. One of the world’s largest sources of funding. It’s five institutions share a commitment to reduce poverty, increase shared prosperity and promoting sustainable development.

Provide financial products and technical as. Help countries share and apply innovative knowledge and solutions to the challenges they face.

Help countries improve their business climate in key ways, such as supporting labor market reforms, advising on public-private partnerships, implementing pro-competition market policies, and introducing sector-specific regulatory changes.

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WTO - World Trade Organisation by Neringa

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WTO - World Trade Organisation by Neringa

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The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations.

The goal is to help producers of goods and services, exporters, and importers conduct their business.

The WTO is run by government members.

WTO Stand for:

Non-discrimination

A country should not discriminate between its trading partners, and it should not discriminate between its own and foreign products, services or nationals.

Opening trade

Lowering trade barriers is an obvious way to encourage trade; these barriers include customs duties (or tariffs) and measures such as import bans or quotas, that restrict quantities selectively.

Predictability and transparency

Foreign companies, investors and governments should be confident that trade barriers will not be raised arbitrarily. With stability and predictability, investment is encouraged, jobs are created and consumers can fully enjoy the benefits of competition – such as increased choice and lower prices.

Fair competition

Discouraging “unfair” practices, such as export subsidies and dumping products at below normal value to gain market share.

Support for less developed countries

The WTO agreements give them transition periods to adjust to WTO provisions and, in the case of the Trade Facilitation Agreement, provide for practical support for implementation of the Agreement.

Protection of the environment

The WTO agreements permit members to take measures to protect not only public, animal and plant health but also the environment. Members must not use environmental protection measures as a means of introducing discriminatory trade barriers.

Inclusion

The WTO seeks to build a more inclusive trading system that will allow more women and small businesses to participate in trade and to reap the economic benefits of global trading.

Partnerships

The WTO maintains regular dialogue with civil society, labour unions, universities and the business community to enhance cooperation and build partnerships.

Digital trade

The WTO recognizes the growing importance of e-commerce. Periodic reviews of the WTO’s work programme on e-commerce are conducted by the General Council based on reports from various WTO bodies.

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The WTO agreements are lengthy and complex because they are legal texts covering a wide range of activities. But certain simple, fundamental principles run throughout all of these documents and form the foundations of the multilateral trading system.

Click the + to open an item. A tree for site navigation will open here if you enable JavaScript in your browser.

Non-discrimination

A country should not discriminate between its trading partners, and it should not discriminate between its own and foreign products, services or nationals.

Opening trade

Lowering trade barriers is an obvious way to encourage trade; these barriers include customs duties (or tariffs) and measures such as import bans or quotas, that restrict quantities selectively.

Predictability and transparency

Foreign companies, investors and governments should be confident that trade barriers will not be raised arbitrarily. With stability and predictability, investment is encouraged, jobs are created and consumers can fully enjoy the benefits of competition - such as increased choice and lower prices.

Fair competition

Discouraging "unfair" practices, such as export subsidies and dumping products at below normal value to gain market share; the issues are complex, and the rules try to establish what is fair or unfair, and how governments can respond, in particular by charging additional import duties calculated to compensate for damage caused by unfair trade.

Support for less developed countries

Over three-quarters of WTO members are developing economies or in transition to market economies. The WTO agreements give them transition periods to adjust to WTO provisions and, in the case of the Trade Facilitation Agreement, provide for practical support for implementation of the Agreement.

Protection of the environment

The WTO agreements permit members to take measures to protect not only public, animal and plant health but also the environment. However, these measures must be applied in the same way to both national and foreign businesses: members must not use environmental protection measures as a means of introducing discriminatory trade barriers.

Inclusion

The WTO seeks to build a more inclusive trading system that will allow more women and small businesses to participate in trade and to reap the economic benefits of global trading.

Partnerships

The WTO maintains regular dialogue with civil society, labour unions, universities and the business community to enhance cooperation and build partnerships. The WTO's Trade Dialogues initiative and the annual Public Forum provide a platform for civil society and business groups to discuss the latest developments in world trade and to propose ways of enhancing the multilateral trading system.

Digital trade

The WTO recognizes the growing importance of e-commerce. Periodic reviews of the WTO's work programme on e-commerce are conducted by the General Council based on reports from various WTO bodies. In addition, a group of like-minded members are conducting negotiations on e-commerce, with a view to developing global digital trade rules and addressing challenges posed by the digital divide.

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WTO | What is the WTO? - What we stand for

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The WTO agreements are lengthy and complex because they are legal texts covering a wide range of activities. But a number of simple, fundamental principles run throughout all of these documents. These principles are the foundation of the multilateral trading system.

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IMF (International Monetary Fund)

-is an organization of 190 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.

•It does so by supporting economic policies that promote financial stability and monetary cooperation, which are essential to increase productivity, job creation, and economic well-being.

• The IMF is governed by and accountable to its member countries.

• Facilitation of a balanced international trade

•Reduction of poverty around the world.

•Promotion of high employment through economic assistance and sustainable economic growth.

•Controlling global conditions and recognising financial risks among its member countries.

•Providing advice to the member countries for a faster economic development.

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Let's think for 5 minutes and come up with 5 new inventions in the business world.

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Inventions in the business world by Neringa

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Inventions in the business world by Neringa

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In a big development, researchers in Japan have made a device that can record and play back dreams in video sequences. This is a device that can show you what you dreamt about while you were asleep. This device uses advanced technology to capture the complex activity in your brain when you dream.

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Every year, new technologies are introduced or improved upon that have a major impact on the business world. From major to minor innovations, and from physical machines to complex code, each advancement has the potential to change the way the world does business-and this year was no exception.

There were a multitude of technological innovations and improvements within the last 12 months, and to share a few of their favorites, the members of Young Entrepreneur Council chime in below. Here, they each share one technology that they think has the most exciting implications for business in the coming year and why they believe its impact will be so great.

Members pictured from left to right.
Photos courtesy of the individual members.

1. Virtual Reality

One technology that has the most exciting implications for business in the coming year is virtual reality (VR). VR has been around for a while, but it is only now that the technology is becoming more affordable and accessible to businesses and consumers. There are a number of reasons why VR is so exciting for businesses. One is that it provides a new way for businesses to engage with their customers. For example, businesses can use VR to create immersive experiences that allow customers to try out products before they buy them. This can be particularly useful for businesses that sell expensive products, such as cars or houses. - Abhijeet Kaldate, Astra WordPress Theme

2. Hyper-Accurate Positioning Technology

Hyper-accurate positioning technology is one of the great achievements of this year. GPS tech has revolutionized both our personal and professional lives; however, future ultra-precise locating systems have a few centimeters or millimeters accuracy, whereas current GPS is only accurate to within five to 10 meters. New opportunities are available, including delivery robots, self-driving cars and landslide warning systems, but it will likely impact the shipping industry the most. Hyper-accurate positioning redefines the shipping industry today because it allows ships to be positioned more accurately than ever before. It means that shipowners and operators can know exactly where their vessels are at all times, which is crucial for the safe and efficient operation of the shipping industry. - Candice Georgiadis, Digital Day

3. Smart Business Cards

For many years, exchanging contact details at a conference meant searching through your pockets for a physical business card that may or may not be up to date and that you may have forgotten to bring along with you anyway. Digital business cards, like the extremely popular Popl, change all that. Updating is simple via an app, sharing happens instantly with a tap or scan and there's an opportunity to express yourself through photos, video and other media. As the world becomes increasingly paperless, and Gen-Z in particular search for ways to reduce their environmental impact, it makes sense that business cards will be replaced by their digital counterparts en masse over the next 12 months. - Greg Ashton, GROW

4. Cloud Technology

I think cloud technology will continue to prosper in the year 2023 and facilitate businesses to build advanced and secure system infrastructures. Over the years, we've seen a major paradigm shift in the corporate world pertaining to information sharing. Cloud technology has made it easier for businesses to access data on demand and share it with concerned stakeholders without the fear of information infiltration. Cloud technology is responsible for the digital transformation of businesses and has facilitated them with agile processes and easy scalability. Cloud technology is evolving and becoming more secure with each passing day. We have seen a surge in its popularity due to the need for information security, and it will continue to serve the purpose in the future, but even better. - Stephanie Wells, Formidable Forms

5. Comprehensive Digital Finance Tools

We're excited by the trend toward more comprehensive digital finance tools for businesses and the people who run them. The landscape looks totally different now than it did five years ago, when most businesses still had no choice but to use expensive corporate bank accounts and clunky credit or charge cards that often required personal guarantees. Fast forward to today and small- to medium-sized businesses have a ton of high-limit credit cards (based on revenues, not credit score) and low-cost, high- or no-limit bank accounts. That means a lot less time and personnel to manage your working capital. - Andrew Schrage, Money Crashers Personal Finance

6. Smart Contracts

One trend that I think will grow quickly in the next few years is smart contracts. This is one of the most practical applications of blockchain technology. Smart contracts allow for secure agreements between parties without the need of third-party help such as lawyers or banks. Smart contracts can be useful in many industries, including real estate, publishing and finance, to name just a few. They allow for faster, more secure and less costly contracts that can accelerate business deals for smaller and larger companies. This technology is already advancing rapidly, so its adoption is largely a matter of education as people realize the benefits of using smart contracts. - Kalin Kassabov, ProTexting

7. AI For Content Creation

Staying ahead of the competition is more important than ever, so one technology that has the most exciting implications for businesses in the coming year is artificial intelligence (AI). This innovative technology has a wide range of applications that can help businesses stay competitive and optimize their operations. One area where AI can have a significant impact is in creative work. Thanks to advances in machine learning algorithms, AI systems are now capable of generating high-quality content at an incredibly fast rate-far faster than human writers or designers could ever hope to achieve. This makes them an invaluable tool for businesses that need to produce large quantities of content on a regular basis, such as marketing teams, PR firms and advertising agencies. - Adam Preiser, WPCrafter

8. 3D And 4D Printing

Advancements in 3D and 4D printing could bring so many opportunities to businesses in the future. It's exciting to think of the innovative applications and how 3D and 4D printing could change business operations, manufacturing, distribution and more. Businesses already use it for printing prototypes as well as final products, including homes. As new features, materials and tools are introduced in the future, 3D and 4D printing will become less of a novelty and more of a must-have for businesses of all sizes. It truly will be transformational for businesses-and consumers-in a wide variety of industries and markets. - Jonathan Prichard, MattressInsider.com

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eight technologies that could have an exciting impact on business

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Council Post: Eight Technologies That Could Have An Exciting Impact On Business In 2023

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From major to minor innovations, and from physical machines to complex code, each advancement has the potential to change the way the world does business.

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https://youtube.com/shorts/bSZyRWht4Ts?si=9TXmiQJP4e-w_pKr

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Dive into the fascinating realm of dreams with our latest AI technology. Ever wondered if we could record and replay our dreams? The future is closer than yo...

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"Underlying AI technologies such as ChatGPT and other generative AI tools, SageMaker, Azure AI, and others will be foundational in allowing innovators to quickly solve hard problems to disrupt vertical market processes," Goodson says. "Most of these tools require little ramp-up time to get started with powerful impact. Where data is not structured or is more difficult to leverage, more sophisticated AI approaches will continue to dominate, causing disruption."

Rahul Subramaniam, CEO at CloudFix, expects entire new product categories to emerge from large language models built by the likes of OpenAI, Google, and AWS - something that may help enterprises unlock hidden value in the vast troves of unstructured data in their stacks.

"Businesses have been looking to unleash insights from all their data," Subramaniam says. "The challenge is the ability to assimilate this vast amount of data and summarize that knowledge into something actionable or useful. Until recently, this was nearly impossible. Large language models have made solving this much more feasible today."

Chatbots to finally prove their CX/EX power

Chatbots are frequently heralded as an efficient way to handle internal requests and assist external customers, but they have yet to live up to the promise for many customers. Evan Huston, chief digital officer at Saatva, says this year should bring much-needed improvements in this area.

"AI chatbots have turned a corner and will disrupt the market," Huston says. "Chat is an early solution for AI language models, but we will see it expand more broadly to content and marketing applications. SEO today is still largely based on human keyword analysis aided by intelligence tools, then human-drafted content targeting those keywords. AI will advance enough to automate this process. By the end of 2023, new AI-language model applications will emerge beyond chat, changing our approach to online content."

CloudFix's Subramaniam also sees a turning point for this area, and again, points to large language models driving the improvements across various types of data businesses collect.

"Up until now, products limited themselves to domain-specific knowledge and languages, and answering questions meant building specific dashboards for specific users and queries," Subramaniam says. "I foresee chatbots using these new models to answer questions that require data from finance systems, CRMs, support platforms, and a variety of other internal solutions, negating the need for hand-built semantic models or needing to explicitly state where the data should be fetched from or how it should be joined with other data - delivering answers more efficiently to both customers and employees."

Blockchain to build up business use cases

Blockchain financial products are another area that could be disruptive in the near future, says Evgeny Fil, CTO at EOS Data Analytics.

"There are many challenges in the traditional finance system that make it clunky for end users," Fil says. "Things like centralization, with a single point of failure, lengthy know-your-customer and anti-money laundering procedures, high fees, and friction are big defects of the legacy financial system. Blockchain technology can allow for decentralized financial services - like liquidity providing - with all KYC/AML done almost instantly on blockchain and with lower fees."

And, according to the State of the CIO survey, IT leaders expect the market to remain tight for blockchain expertise, as with other highly in-demand technologies, such as cybersecurity and data science and analytics.

"The global blockchain in telecom market will reach $16.48 billion by 2030, growing by 62.8% annually over 2020-2030," according to a report from Pragma Market Research. "The market is driven by rising security concerns, high demand for fraud management, 5G implementation, and the increasing number of blockchain consortia."

Digital tech to drive healthcare transformation

As a lasting result of the COVID pandemic, healthcare technology is ripe for disruption, says 1Path Chief Customer Officer Luca Jaboellis, especially in remote or otherwise underserved areas. The digital transformation of health services is creating opportunities for better, faster, and more personalized care.

"Telemedicine and remote healthcare services have led to a revolution in the way patients are accessing healthcare," Jaboellis says. "With the use of teleconferencing and remote monitoring, doctors and clinics can provide timely and efficient care. Hospitals are becoming increasingly dependent on emerging technologies, too. From electronic medical records systems to handheld tablets for every staff member, the key is to stay ahead of the curve and be a leader in this new era."

According to the World Economic Forum, the pandemic caused investments in the healthcare industry to nearly double to $57 billion in 2021, led by telehealth and mental health. "Tech companies are increasingly focusing on healthcare, while digital health startups are also growing rapidly," the agency reports. "There is also growing attention being paid to data - better aggregation and analysis is enabling more informed insights and potentially also prediction and disease modelling. Meanwhile, AI is being used to support areas including diagnosis, clinical decisions, monitoring and treatment, and workflow. AI-assisted medical imaging is already in use, and many drug companies are exploring AI-assisted drug development."

Sustainable tech to become an enterprise priority

Sustainability is top of mind for IT leaders, as well as their colleagues and customers in 2023. It's an area where leading organizations are innovating new ways to do well by doing good. "Investments in sustainable technology also have the potential to create greater operational resiliency and financial performance, while providing new avenues for growth," according to a Gartner report on strategic technology trends for 2023.

"The biggest disruptor in industry this year probably isn't technology at all," says Peter Zornio, CTO at Emerson. "Many of our customers are finding the business case for sustainability is critical to having an actionable path, similar to their experience with digital transformation a few years ago. At the intersection of the ways things have always been done to the tech-powered vision of tomorrow, this new architecture will create boundless automation that democratizes data so companies can optimize their business and sustainability performance."

Keith Fritz, director of solutions architecture at QuesTek, specifically sees improvements in storing renewable energy as a potential disruptor in the making for this year.

"There are a number of players on the verge of disruptive battery technology," Fritz says. "It's not quite here yet, but 2023 could be the year we see a tremendous leap forward in battery size and capacity that could have implications for all sorts of industries."

IoT to mature and converge

The past few years have brought a surge of IoT applications, says Preethi Janardhanan, lead product manager at Rapid Finance. And IoT is an area that's making gains as it matures and converges with other technologies.

"We are seeing the influence of IoT across industries," Janardhanan says. "Retailers are increasingly using IoT to streamline the shopping experience and make it more efficient and automated. IoT enables supply chain managers to get a good end-to-end picture of the process and timelines. And as security and fraud prevention become more and more critical, IoT devices allow banks and fintechs to identify the customer with more accuracy and confidence."

The current economic slowdown caused research firm IoT Analytics to reduce its projections for growth in the market by 5%, yet still estimate enterprise spending will grow by 19% in 2023. The firm also noted IoT projects tend to be resilient amid tech layoffs: "Many IoT projects could get a boost by the influx of highly skilled software engineers that are victims of startup and tech layoffs. The long-term growth potential of the IoT enterprise market is resilient and expected to reach $484 billion in 2027."

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Top technologies that will disrupt business in 2023

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From AI to IoT, advancements, convergences, and new use cases are giving rise to new avenues for IT innovation across industries, thereby transforming the business landscape to come.

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Neringa

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Given the nightmares I was experiencing last night after finishing my binge-watch of Netflix series The Haunting of Hill Houseand frequent sleep paralysis, I'm not sure I'm going to be rushing to see what's been cropping up when I close my eyes and going to sleep anytime soon.

But for those of you having dreams about fairies and unicorns, maybe this one's for you.

A team of scientists from ATR Computational Neuroscience Laboratories in Kyoto, Japan used a modified magnetic resonance imaging (MRI) scan machine, as well as an electroencephalogram (EEG) machine, to take a deeper look into people's dreams.

The study took three participants and monitored their brain activity during sleep, placing them in a MRI scanner across several 3-hour time blocks over 10 days, according to Smithsonian Magazine.

Participants had an EEG machine attached to their scalp via electrodes to pick up tiny electrical signals taking place in the brain and the MRI machine was edited to provide functional MRI readings (fMRI), picking up up changes in blood flow by capturing images at different stages of the participant's sleep.

The team of scientists focused on the period of sleep where participants were in stage one of non-REM sleep - a few minutes after dozing off where 'quick, sporadic hallucinations' can occur, as per Smithsonian.

What do you think your dreams would look like? Credit: Pexels/ Ketut Subiyanto

The participants were woken up after entering stage one of non-REM sleep and asked to describe what they'd seen in their dreams - a process repeated around 200 times.

Scientists gaged what the most common items were seen by participants in their dreams - for example, a person or building - and later showed the participants images from the internet of those items while they were still in the MRI machine, but this time, when they were awake.

To identify a pattern, the team then compared the MRI machine's scans of the participant's brains when they were awake and viewing images of the images, compared to when they were asleep and dreaming of the items.

Would you want to see what you've been dreaming about? Credit: Pexels/ Ron Lach

The results of the learning algorithm led scientists to be able form basic images of participants' dreams, which they grouped together into a video.

And when the scientists asked participants how their dreams played out, their recollections matched up pretty well with the video predictions formed by the AI.

The study revealed the algorithm was able to predict what a participant had seen in their dream 60 percent of the time, but was better at telling the difference between a person and scene, than identifying specific details of a scene - such as being able to tell if a participant was dreaming about a person in a street or in a building.

The question is, would you want to be able to replay your dreams?

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Scientists create device which lets you play back your dreams

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Scientists have discovered a way to read people's dreams.

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3D and 4D printing could change business operations, manufacturing, distribution and more. Businesses already use it for printing prototypes as well as final products, including homes.

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identify a company or brand that has vanished from the high street

Investigate why this happened

challenge - what could they have done to prevent this in your opinion?

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Selling pick 'n' mix, stationery and even garden tools: Wilko has styled itself as a budget UK homeware chain for more than 90 years.

With 400 stores across the UK, the chain is well-known for its affordable everyday items.

But in early August, the High Street stalwart collapsed into administration and put 12,500 jobs at risk.

Discount chain B&M said in September that it would take on up to 51 of Wilko's 400 stores in a deal worth £13m. And the owner of Poundland has agreed to take on the leases of 71 Wilko shops.

There had been hope that a further 300 stores could be rescued by the billionaire owner of HMV, Doug Putman. But the failure of his bid means the Wilko name will disappear from the High Street in the next few weeks.

The business was founded in 1930 when JK Wilkinson opened his first store in Leicester. It expanded across the Midlands initially and by the 1990s became one of Britain's fastest-growing retailers.

In 2012, Wilkinson began rebranding its stores as Wilko, and by 2014, most stores had emblazoned the new name on storefronts.

When we first heard the chain was struggling, we spoke to Wilko customers in stores and on social media.

James, a construction professional, remembered the first Wilko store in Leeds: "My dad loved it - a brilliant location at the Arndale Centre in Headingley. It sold such a wide range of things."

But Stephen from North Tyneside said it didn't have everything he wanted.

"We only go in for specific items. It's good for washing up powder. It's not what it was, I don't think," he said.

Woolworths gap

Wilko stepped into the High Street gap left by the collapse of Woolworths in late 2008, but has struggled over the past decade partly due to growing competition from the likes of Poundland and B&M.

Wilko's sales were larger than B&M's a decade ago, but recently its sales had also fallen below Poundland, Home Bargains and The Range.

Some analysts have pointed out that rivals seem to offer similar goods at lower prices - which made Wilko's business less appealing for potential suitors.

Shoppers had also noticed gaps on shelves after Wilko struggled to pay suppliers and at least one credit insurer withdrew trade cover, prompting some companies to pause deliveries.

Richard Lim, boss of the Retail Economics consultancy, said the level of investment needed to get the retailer back on its feet and regain the trust of their suppliers was "a significant stumbling point".

"While some of the stores have been acquired, the core business needs emergency surgery and the acquisition risks appear too high for most," he told the BBC.

Too many stores?

When Wilko fell into administration it had 408 stores across the UK, many of them in High Street locations in traditional town centres.

While these locations are convenient for shoppers without cars, since the pandemic there's been a shift to bigger retail parks and out-of-town options with more space.

"The purchase of 51 Wilko stores by B&M may have left the remainder of the estate less attractive for any purchaser," said Charles Allen, retail analyst at Bloomberg Intelligence.

"It seems likely that poor, or outdated locations, were one reason for Wilko's demise, so if some of the better ones were no longer available, a deal to rescue the remainder may have become more difficult."

Richard Lim said Wilko's focus on the High Street had not helped it keep up with its rivals.

"B&M and Home Bargains have really invested in their stores and since the lockdowns in the UK, customers are really after that shopping experience.

"Wilko also struggled to join up their online and in-store operations," he added.

Retail analyst Catherine Shuttleworth said Wilko's problems were a result of bad decision-making by the owners.

"There were simply too many stores in the Wilko estate," she said.

"A cut to 250 stores would have been a sensible move by the owners of the business - tough decisions were needed but they simply weren't made.

"As the market became more competitive post-Covid and the shopper changed their shopping habits permanently, Wilko failed to act and this ultimately led to the position they are in today."

But nevertheless, many customers told the BBC they would be upset if their local Wilko closed.

"It's a bit like the old Woolworths," one said. "It would be a huge loss - not everyone likes online shopping."

Are you affected by the issues raised in this story? Share your experience by emailing haveyoursay@bbc.co.uk.

Please include a contact number if you are willing to speak to a BBC journalist. You can also get in touch in the following ways:

If you are reading this page and can't see the form you will need to visit the mobile version of the BBC website to submit your question or comment or you can email us at HaveYourSay@bbc.co.uk. Please include your name, age and location with any submission.

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The beloved discount retailer was founded in 1930 but now all 400 stores are set to close within weeks.

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House of Fraser started with a shop in the centre of Glasgow almost 170 years ago.

It became a retail empire with more than 100 department stores, including iconic luxury store Harrods in 1959.

The House of Fraser Group has annual sales of £1.2bn. It employs about 5,000 people directly and also has 12,500 concession staff.

House of fraser CEO - We've completely changed the operating model. "It was mostly concession, the stores were way too big, they were under-invested. "Our future vision is that House of Fraser will diminish and Frasers will grow." Frasers Group has already started opening "new concept" stores as part of that vision.20 Oct 2023

The owner of House of Fraser has said it could close more stores, after shutting eight in the past year and declaring “the department store globally is broken”.

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Gem

C&A

In 2000, due to competition from Tesco and Asda, as well as from expanding high street names such as H&M, Zara and Topshop, C&A announced its withdrawal from the British market, where it had been operating since 1922 and had 109 stores. The last UK retail stores closed in 2001. Primark bought 6 C&A stores.

And a new wave of discounters has grown up including New Look, Matalan, Peacocks and Primark. These stores have wooed shoppers with more fashionable merchandise than C&A sells and at cheaper prices.

Challenge - my opinion, they should have lowered production costs (sold cheaper items) and stayed update with fashionable trends

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•Debenhams plc was a British department store chain operating in the United Kingdom, Denmark and the Republic of Ireland.

•The company suffered financial difficulties in the 21st century and entered administrationtwice, in April 2019 and April 2020.

The high rent,reduced sales,COVID-was few of the most important things which affected the business.Debenhams also suffered a huge loss of jobs, and it went bankrupt.

•After 243 years in business, the remaining Debenhams department stores closed for the final time during May 2021.

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Debenhams has announced it will shut its remaining stores by 15 May, closing the door on more than 200 years of trade on UK high street. The Debenhams brand will continue online after being bought by retailer Boohoo for £55m in January.

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1) Trading Block

Trading blocs are groups of countries that build rules for trade between all participating countries. These rules are designed to limit trade barriers such as subsidies, tariffs

2) Advantages of TB

•No tariffs

•No border check

•they can increase trade between member countries.

•By reducing barriers to trade, such as tariffs and quotas, member countries can trade more freely with one another, which can increase the volume of trade and promote economic growth

3) Disadvantages of TB

•Loss of sovereignty and independence

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1) Trading blocs are groups of countries that establish rules for trade between all participating countries. These rules are designed to limit trade barriers such as subsidies, tariffs, and quotas.

2) Some of the advantages are enabling free trade between geographically close countries. Aiming to lower prices, increased export potential, higher growth, economies of scale and greater competition.

3)The main disadvantage of trading blocs in international business is that they can lead to trade diversion. Trade diversion occurs when member countries shift their trade from non-member countries to member countries, even if the non-member countries are more efficient producers.

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Trading blocs - this intergovermental agreement with the rules how to trade between participating countries that includes limit trade barriers, such a subsides, traffics and quatas.

The main advantage of the trading blocs is free trade between close countries, that lead for lower price items for consumers, export is been increased also it develops economy and competition between markets.

Disatvantage in international business, they can lead to trade diversion, also depending of the country and political situation how leaders deal to other countries.

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China-Pakistan Economic Corridor is a framework of regional connectivity. CPEC have positive impact on Iran, Afghanistan, Central Asian Republic, and the region. The enhancement of geographical linkages having improved road, rail and air transportation system with frequent and free exchanges of growth and people to people contact, enhancing understanding through academic, cultural and regional knowledge and culture, activity of higher volume of flow of trade and businesses, producing and moving energy to have more optimal businesses and enhancement of co-operation by win-win model will result in well connected, integrated region of shared destiny, harmony and development.

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On 8 August 1967, five leaders – the Foreign Ministers of Indonesia, Malaysia, the Philippines, Singapore and Thailand – sat down together in the main hall of the Department of Foreign Affairs building in Bangkok, Thailand and signed a document. By virtue of that document, the Association of Southeast Asian Nations (ASEAN) was born.

The ASEAN Charter serves as a firm foundation in achieving the ASEAN Community by providing legal status and institutional framework for ASEAN. It also codifies ASEAN norms, rules and values; sets clear targets for ASEAN; and presents accountability and compliance. The ASEAN Charter entered into force on 15 December 2008 at the presence of ASEAN Foreign Ministers at the ASEAN Secretariat in Jakarta.

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•The European Union (EU) is a political and economic grouping of 27 countries committed to shared democratic values.

•The euro is the shared official currency of 19 EU members known collectively as the eurozone.

•In recent years, the EU has expanded to include many of the countries that had been Soviet Socialist States before the collapse of the Soviet Union.

•In the 2016 referendum known as Brexit, the U.K. voted to leave the EU. It officially left in 2020.

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•The term Organization of the Petroleum Exporting Countries (OPEC) refers to a group of 13 of the world’s major oil-exporting nations. OPEC was founded in 1960 to coordinate the petroleum policies of its members and to provide member states with technical and economic aid.

•OPEC is a cartel that aims to manage the supply of oil in an effort to set the price of oil on the world market, in order to avoid fluctuations that might affect the economies of both producing and purchasing countries.

•Countries that belong to OPEC include Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela (the five founders), plus Algeria, Angola, Congo, Equatorial Guinea, Gabon, Libya, Nigeria, and the United Arab Emirates.

The Organization of the Petroleum Exporting Countries is a cartel consisting of 13 of the world’s major oil-exporting nations.

OPEC aims to regulate the supply of oil in order to set the price on the world market.

•The arrival of fracking technology for natural gas in the U.S. has reduced OPEC’s ability to control the world market.

•The organization was established in 1960 by its founding members Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela.

While OPEC does ensure that there is a steady supply of oil in the global market, it has come under fire for holding considerable power in the industry, which allows it to keep prices as high as possible.

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What is the China-Pakistan Economic Corridor?

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Organisational culture is set of values, beliefs, attitudes, systems, and rules that influence employee behavior within an organization.The culture reflects how employees, customers, vendors, and stakeholders experience the organization and its brand.

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Organizational culture - this is a shared product of shared learning in the organization (Edmonson,2012)

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According to Serpa (2016) Organisational culture may be considered as the shared way of being, thinking and acting in a collective of coordinated people with reciprocal expectations; it is shaped, disseminated, learned and changed over time, providing some predictability in every organisation.

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Why organizational culture is important? Neri

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Why organizational culture is important? Neri

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If learning is shared all groups forces to identity information and cohesion come into play in stabilizing that learning, because it allows to define group purpose “reason to be”. It become a pattern of beliefs and brings values to the daily activities and ensures to achieve for company the goals (Schein and Schein, 2017)

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Invisible forces that lie below the water's surface are the ones that shape cultural norms.According to the iceberg theory, most of what makes the the business works ,operating at a far deeper level than anyone else thinks.

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1.What is national culture?

2.What is the impact of culture on global business?

3.What is Hofstede’s dimensions? What are its strengths and cultural dimensions?

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Gina1. Norms, behaviors, beliefs, customs, and values shared by the population of a sovereign nation

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Gina1. Norms, behaviors, beliefs, customs, and values shared by the population of a sovereign nation

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2.Culture is essential in international business because it influences how multinational and cross-cultural teams interact and collaborate

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3. A framework used to understand the differences in culture across countries and the ways that business is done across different cultures.

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3. A framework used to understand the differences in culture across countries and the ways that business is done across different cultures.

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Hofstede Cultural Framework | International Business| From A Business Professor#Hofstede

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Național culture refers to a group of people who come from same country,who share same expectations and value this expectations in the same way.

The larger that group becomes, the more noticeable National Culture will also be.

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The culture has a positive impact on global business,helping employees understand the values in the organisation,share the ideas and communicate,find a common purpose between colleagues,adapt to working practises.It also impacts the functional areas of marketing, sales, and distribution. The culture It can affect a company's analysis and decision on how best to enter a new market.

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Telco companies have the 2nd most individualistic culture…guess who’s #1

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When I saw Telecom high up in the ranking, I was not that surprised… Having worked with several companies in this sector, I know it has traditionally been a very masculine culture, which tends to be (perceived as) more individualistic. On top of that, there’s been a massive consolidation and change

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McDonald’s business culture emphasizes human resource development and efficiency. It supports business growth and success in the international fast-food restaurant market. This organisational culture has the following characteristics, arranged according to McDonald’s prioritization:

1. People-centricity

2. Individual learning

3. Organizational learning

4. Diversity and inclusion.

The company use a invidualism culture dimension.To ensure support for people, the company’s workplace culture motivates employees to communicate with management to help improve processes and procedures. Employee behaviors based on this corporate culture influence the effectiveness of McDonald’s marketing mix (4P).

Hergete, J. (2023). Challenges to Corporate Culture: Today and Tomorrow. In Shaping Corporate Culture: For Sustainable Business Success (pp. 149-157). Berlin, Heidelberg: Springer Berlin Heidelberg.

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It is accepted that domestic advertisements cannot be simply translated and then put in other countries and regions directly since cultural differences and misunderstandings are common in intercultural communication. Under the guidance of Hofstede’s Cultural Dimension Theory, this paper, taking McDonald’s advertisements as examples, aims at analyzing why does McDonald’s put different media advertisements in different countries and regions and how Hofstede’s Cultural Dimension assists the design of advertisements? With qualitative content analysis, we find that McDonald’s usually employs elements related to “we” such as family or friendship to design advertisements for cultures characterized by collectivism. Secondly, different dimensions would be elaborated in one advertisement at the same time. Besides, subcultural factors such as homosexuality or street dance are common in advertisements launched in feminine societies. Lastly, leisure time or entertainment is usually taken to design advertisements by McDonald’s for short-term orientated countries and regions.

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1. No. The jobs responsibilities overlap between men and women.

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1. No. The jobs responsibilities overlap between men and women.

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2. I think both because by individualism employees are recognised for their performance and collectivism employees will face challenging tasks were they will have to work together and keep motivated to perform on their job.

3. Power distance refers to the intensity and degree of inequality that exists between individuals, and different groups of individuals within an organization based on the power they hold.

McDonalds has a flatter organizational hierarchy .This promotes a sense of trust and belonging in the employees, and increases their motivation towards optimal performance.

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Cross-Cultural Management at McDonald's Assignment Cross-Cultural Management Assignment - McDonald's is the largest single-brand chain of restaurants glo

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According to Tu, Lin and Chang (2011), individualism is higher in the United States as compared to India. Individualism is the interdependence degree society can maintain among its members. The United States and India scores are 91 and 48 respectively. There is a difference of 43 between the two countries.

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Functional Areas Explained | HR, Marketing, Production & Finance

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Business is the practice of making one's living or making money by producing or buying and selling products. It is also "any activity or enterprise entered into for profit. The business functions are : human resources, finance, marketing and sales,and production and manufacturing.These are universal functions, which means that they are necessary for the success of any business.

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Human Resources is the function of building and maintaining a successful team of employees who have the skills and experience to achieve the company’s primary and core functions.

Finance is the function of handling the company’s money. This core function exists to ensure that the business spends and invests money properly so that it can continue to operate successfully.

Sales and marketing
Every business needs its target audience to:

Know that it exists

Understand what it does

Regard it as being trustworthy

View it as a provider of products or services they need

The core function of marketing creates brand awareness and engages potential customers.

Manufacturing and Production .

The manufacturing function is primarily responsible for implementing and operating the production system in order to produce the product. Manufacturing may also include purchase, distribution, and installation as well as the physical manufacture of the component.

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if I would get the opportunity to re-launch the brand in Dubai,I would consider the transnational strategy and multidomestic strategy.Thise strategies initiatives that brands adapt to make their marketing approaches similar globally and adapt to every customers concept,also focuses on local responsiveness over global standardization, making it the most localized of the different models available.

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The name change to Meta from Facebook foreshadows the company's newest target: the metaverse. The idea of the metaverse remains somewhat fuzzy today, but it amounts to a world of online, virtual environments where users work, socialize and play

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Snickers was actually named the Marathon Bar in the UK between 1967-1990 because the original name rhymes with 'knickers'- so to avoid controversy, they decidded to change it. In 1990 Mars wanted universal names for its products so the firm changed back to Snickers.

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Subway founded originally under the name Pete’s Super Submarine. Customers found the name hard to pronounce and it was changed to Subway.

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Subway- founded originally under the name Pete’s Super Submarine. Customers found the name hard to pronounce and it was changed to Subway.

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Glocalization is a strategy of an international company by adapting its methods, products, or services to suit local markets. It is a combination of the words “Globalization” and “Localization.” So, in summary, it is a global strategy that involves a combination of globalization and localization. Globalization involves a worldwide marketing strategy, and localization involves adapting to local needs.

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The creation of products or services for the global market by adapting them to local cultures.

E.g Mcdonald’s is a food chain company that has made effective use of glocalization to expand its business worldwide. Mcdonalds sell beef burgers in other countries of the world, whereas in India, the beef burger is replaced by Mcaloo Tikki burgers.

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The term describes a product or service that is developed and distributed globally but is also adjusted to accommodate the user or consumer in a local market.

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The Starbucks stores in India are fully equipped with glocalized products.

There’s no beef or pork on Starbucks’ menu in India. They mainly serve vegetarian options to suit the tastes of their Indian customers—most of whom don’t eat beef or pork for religious reasons

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Wondering What to Wear in Dubai? Read about the dress code for men & women, clothing restrictions, what to wear at beaches in Dubai & more!

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A closer look at the fashion industry in Gulf Cooperation Council markets

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Middle Eastern consumers are experienced and increasingly savvy, but the region is grappling with shifting economic currents and the rise of digital. For brands, this implies risks but also opportunities for players in retail and fashion in Middle East markets.

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UAE laws and customs are very different to those in the UK. Be aware of your actions to ensure that they don't offend, especially during the holy month of Ramadan or if you intend to visit religious areas. There may be serious penalties for doing something that might not be illegal in the UK. You are strongly advised to familiarise yourself with, and respect local laws and customs.

In 2023, the holy month of Ramadan is expected to start on 22 March and finish on 21 April. See Travelling during Ramadan

You can read more about living in the UAE here.

Importing goods

Importing pork products and pornography into the UAE is illegal. Videos, books, and magazines may be subject to scrutiny and may be censored.

Drugs

There is zero tolerance for drugs-related offences. The penalties for trafficking, smuggling and the possession of drugs (including residual amounts) are severe. Sentences for drug trafficking can include the death penalty. Possession of even the smallest amount of illegal drugs can lead to a minimum three-month prison term or a fine of between AED 20,000 and AED100,000. The Emirati authorities count the presence of drugs in the blood stream as possession. Some herbal highs, like Spice, are illegal in the UAE. Possessing and concealing money from drugs related offences, and performing transactions using money from drug-related offences are also crimes, which could lead to imprisonment and a fine.

Many people stop off in UAE airports on their way to other destinations. UAE airports have excellent technology and security, so transiting passengers carrying even residual amounts of drugs may be arrested.

Some skincare products and E-cigarette refills may contain ingredients that are illegal in the UAE such as CBD oil. If found in possession of such products, they will be confiscated and you may face criminal charges. A list of narcotic, psychotropic and controlled drugs where this rule applies, allowed quantities and documents to present can be found on the UAE Ministry of Health website.

Alcohol

UAE Residents can drink alcohol at home and in licensed venues. Liquor licences are still required for Residents in Dubai but are no longer required for Residents in Abu Dhabi and other Emirates (save for Emirate of Sharjah) to purchase alcohol for personal consumption.

In Dubai, tourists are able to obtain a temporary liquor licence for the duration of a month from the two official liquor distributors in Dubai. Tourists will be provided with a code of conduct document and will be asked to confirm they understand rules and regulations in relation to purchasing, transporting and consuming liquor in Dubai. This licence is only for use in the Emirate where it is issued.

Liquor licences are not available to non-residents in the other Emirates, but it is possible for tourists and visitors to buy and drink alcohol in licensed venues, such as hotels, restaurants and clubs. However, you should be aware that it is a punishable offence under UAE law to drink or be under the influence of alcohol in public. British nationals have been arrested and charged under this law, often in cases where they have come to the attention of the police for a related offence, such as disorderly or offensive behaviour.

Generally, the legal age for drinking alcohol is 18 in Abu Dhabi, but a Ministry of Tourism by-law prevents hotels from serving alcohol to those under the age of 21. In Dubai and all other emirates besides Sharjah, the drinking age is 21. Drinking alcohol in Sharjah is illegal.

Dress code

Women should dress modestly when in public areas like shopping malls. Clothes should cover the tops of the arms and legs, and underwear should not be visible. Swimming attire should be worn only on beaches or at swimming pools.

Cross-dressing is illegal.

Hotels

It is normal practice for hotels to take a photocopy of your passport or Emirates ID. You can't stay in a hotel if you're under 18 years old and not accompanied by an adult.

Offensive behaviour

Swearing and making rude gestures (including online) are considered obscene acts and offenders can be jailed or deported. Take particular care when dealing with the police and other officials.

Public displays of affection are frowned upon, and there have been several arrests for kissing in public.

Sexual relationships outside marriage

If you become pregnant and give birth to a child in the UAE outside marriage, to obtain a local birth certificate both you and your partner will need to ensure that you either get married or you and/or your partner must singly or jointly acknowledge the child and provide identification papers and travel documents in accordance with the laws of your country considering the applicable laws of that nation. If you become pregnant outside of marriage, you may not be covered by your medical insurance, and you should consult with your medical insurance provider before giving birth in the UAE.

Consensual sexual relationships between a male and female outside marriage where both are over the age of 18 years, including extra-marital sexual relationships, is generally permitted under UAE law. However, in the case of an extra-marital consensual sexual relationship, if either person's spouse or parent/guardian files a criminal complaint, then both parties of an extra-marital consensual relationship shall be liable to a jail sentence for a period not less than six months.

If either person in a sexual relationship is under the age of 18 years, he/she is deemed a minor, and the other person over the age of 18 will be prosecuted for having a sexual relationship with a minor. If both people are under 18 years of age they will both be prosecuted but punishment is likely to be limited to a caution, parental supervision, judicial supervision, professional training or psychiatric treatment.

Same-sex relationships

All homosexual sex is illegal and same-sex marriages are not recognised.

The UAE is in many respects a tolerant society and private life is respected, although there have been some reports of individuals being punished for homosexual activity, particularly where there is any public element, or the behaviour has caused offence. This applies both to expatriate residents and to tourists. See our information and advice page for the LGBT community before you travel.

Photography of certain government buildings and military installations isn't allowed. Don't photograph people without their permission. Men have been arrested for photographing women on beaches. Hobbies like bird watching and plane spotting, may be misunderstood - particularly near military sites, government buildings and airports.

Posting material (including videos and photographs) online that is critical of the UAE government, companies or individuals, or related to incidents in the UAE, or appearing to abuse/ridicule/criticise the country or its authorities, or that is culturally insensitive, may be considered a crime punishable under UAE law. There have been cases of individuals being detained, prosecuted and/or convicted for posting this type of material.

If you wish to carry out media activity related to the production, transmission and/or distribution of printed, digital, audio, video and/or visual information, you will be required to obtain the appropriate permission from the Emirati authorities in advance. Failure to do so could result in arrest and deportation from the UAE.

Further information about how to obtain the necessary permits to carry out media activity in the UAE and bring media equipment into the UAE can be accessed by registering on the Media Regulatory Office website.

Fundraising/charitable acts

If you're considering undertaking or promoting fundraising or other acts of charity in (or while passing through) the UAE, bear in mind that these activities, including where conducted online and via social media, are heavily regulated. You should be fully aware of the legal requirements and seek professional advice as necessary. Non-compliance can incur criminal penalties, including heavy fines and/or imprisonment.

Buying property

If you want to buy property in the UAE, you should seek appropriate professional advice, as you would in the UK. A list of lawyers for Abu Dhabi and Dubai is available on the British Embassy website.

Financial crime

Financial crimes, including fraud and the non-payment of bills (including hotel bills) can often result in imprisonment and/or a fine. Bank accounts and other assets can also be frozen.

Bail is generally not available to non-residents of the UAE who are arrested for financial crimes. Those convicted will not generally be released from jail until the debt is paid or waived and they may even remain in jail after a debt has been paid if there is an outstanding sentence to be served.

Weapons, ammunition, body protection and related equipment (like cleaning kits, gun belts, etc), however small the quantity and whatever the purpose, all require permission before entering or transiting the UAE.

Technical equipment

Equipment like satellite phones, listening or recording devices, radio transmitters, powerful cameras or binoculars, may require a licence for use in the UAE. Seek advice from the UAE Embassy in London.

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Local laws and customs - United Arab Emirates travel advice

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Latest FCDO travel advice for United Arab Emirates including on entry requirements, safety and security and local laws and customs.

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A blog about homes, trends, tips & life in the UAE | MyBayut

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Looking for some new clothes to spice up your wardrobe? You will be happy to know there are many local clothing brands in Dubai that have helped to put talented UAE based fashion designers on the global fashion map. From chic and trendy couture to edgy streetwear, you can buy a wide variety of clothes from these homegrown brands in Dubai.

Best Local Clothing Brands in Dubai

Check out the list of top homegrown clothing brands in Dubai, with inspired creations featuring signature elements of Emirati culture.

AIISHA

Our top pick is AIISHA, an eponymous brand with exciting designs perfect for the contemporary, fashion-forward UAE resident. A brainchild of award-winning designer Aiisha Ramdan, AIISHA is a leading clothing line that was started in 2017 in the UAE to defy the current trend of fast fashion in the world.

The brand offers casual, formal and bridal wear that showcases intricate details and fine embroidery. Their collections - Resort, Spring and Fall - are available at their boutique and are soon expected to be displayed online.

Many top celebrities such as Carmen Soliman, Ileana D' Cruz, Ashwariya Rai and Kareena Kapoor have worn their ensembles on red-carpets and many other high-profile events.

Location: 1422 Boutique, Ground Floor, City Walk II, Al Wasl Street

Contact: +971-50-350-0400

AIISHA has a diverse range of apparels for discerning shoppers

Michael Cinco

Michael Cinco is a homegrown brand started by a Filipino designer Michael Cinco. Launched in 2003 in Dubai, the brand has been making waves both locally and globally.

Top A-listers such as Beyonce, Jennifer Lopez, Rihanna and Lady Gaga have worn popular numbers from the brand. This leading UAE based couture brand offers Summer/Spring, Autumn/Winter collections and exclusive bridal wear.

Bambah

Offering modern and elegant pieces, Bambah is one of the best luxury brands in Dubai that can help you make a strong fashion statement. The brand offers dresses, gowns, tops, pants and skirts.

Bambah has a boutique in City Walk as well as an online store where you can purchase your desired items. You can buy dresses at Bambah at a price starting from $500 (AED 1836) while tops are available for prices starting at $215 (AED 790).

It's time to upgrade your wardrobe with elegant, comfortable and homegrown clothes in Dubai!

Dee by Dalia

A fashion line of UAE-based designer of Lebanese-Palestinian descent, Dalia El Ali, Dee by Dalia is all about quirky 60's or 70's inspired designs. With beautiful cut-outs and ruffles, these designs add a playful touch to vintage fashion.

Although the brand has various collections, some of the popular ones include Sirius, Autumn and the evergreen Summer Collection.

Location: Office 306A Building 5, Dubai Design District, Dubai

Contact: +971-50-511-0524

Zayan The Label

If you want to spruce up your look by wearing trendy outfits, Zayan The Label is the store to explore. Launched by top Dubai-based fashion designer Zayan Ghandour, the destination-wear line features beautiful hand-embroidered motifs and vibrant prints.

You can purchase dresses, tops, jumpsuits, kaftans, skirts, pants and more. Zayan also has an online store. You can buy dresses from Zayan The Label for as low as AED 690.

All Things Mochi

Established in 2013 by a talented designer Ayah Tabari, Mochi is one of the truly distinctive brands in Dubai. It offers contemporary pieces handcrafted by local artists.

At Mochi, you can find vibrant designs inspired by the places Tabari has travelled to. There are dress sets, jackets and skirts that mirror the traditions of different countries. They have a website as well where you can choose from all their latest collections.

The prices vary based on the type of clothing you want. For instance, tops are available at a starting price of AED 286 while dresses cost upwards of AED 1500.

BUKA

Started by two entrepreneurs Harith Bukhash and Anas Bukhash, BUKA is a popular Emirati streetwear brand. The Dubai-based designer brand offers traditional clothes with a contemporary twist for both men and women. You can buy shirts, track pants, hoodies and more for upwards of $225 (AED 826.4).

It is located in Al Quoz but has a website where you can place an order. it delivers within three to five business days.

Location: Al Quoz 3, Warehouse #1, Dubai

Contact: +971-50-231-1133

A stunning dress is all you need to transform your look!

Bougessa

A luxury label that puts a cool twist on old, classic designs, Bougessa offers sleek, minimalist dresses. It has three collections: Fall, Spring/Summer and Resort.

Their fall collection focuses on black and white tones, whereas the Resort lines lay emphasis on vibrant palettes and their summer collection features colourful shades and bright prints. You can purchase tops, culottes, dresses, blazers and coats from their website or outlet located in Business Bay. Their prices start from $170 (AED 624).

Boom & Mellow

One of Dubai's top brands, Boom & Yellow offers a diverse collection of tops, bottoms and dresses to jazz up your wardrobe. Their boutique is located on Jumeirah Beach Road.

They also offer an online delivery facility. Place an order on their website and get comfortable clothes within three hours across any area in Dubai. Their prices range between AED 200 and AED 700. There are no delivery charges for those living in Dubai.

Rami Al Ali

Born out of the love for refined aesthetics by the top designer Rami Al Ali, the eponymous brand offers bespoke Spring, Summer, Autumn and Winter couture. In addition to that, it also has an exclusive line of bridal dresses that can help you create an unforgettable look on your big day!

Online Clothing Brands in Dubai

Have you ever tried online dress shopping in Dubai?

Here are some of the top online clothing brands in the region from where you can get your preferable articles of clothing at a single tap!

FMMDubai

Started by an Emirati artist and entrepreneur, Fatma Al Mulla, FMM Dubai is one of the most famous clothing brands in Dubai. They offer five eclectic collections: Snakes, Shades, Ameera, Queen and Fun. Their prices range start at AED 300.

They deliver products within one to three business days in the UAE. The duration is subject to the item's availability. Customised orders may take five to seven working days to get delivered. Their shipping charges - within the UAE - are AED 40. However, international and GCC orders are charged depending upon the overall weight of the shipment.

Reemami

Launched by Dubai designer Reema Al Banna, Reemami is one of the best clothing brands in Dubai that aims to empower women across the globe. The strong feminist stance of the brand makes it truly unique!

With their beautiful collections that include WakeSurf, Ocean and The Wanderer, the brand caters to a wide clientele of women in and around the UAE.

For those fond of quirky, whimsical prints, their Kaleidoscopic floral collection is also worth a try! These collections include classy dresses, tops and denim that you can buy for as low as $127 (AED 466).

Besides these platforms, you can purchase clothes and accessories from Lama Jouni, Taller Marmo as well as the best online shopping websites in the UAE.

Other Clothing Brands in Dubai

Which colour would you like for your new outfit?

In addition to that, you can also consider:

If you want to buy accessories and clutches to pair with these clothes, you can opt for:

Nathalie Trad (premium clutches)

L'Afshar (leather bags)

Sass The Boutique (footwear, hats)

Original Marakkeh (trendy bags, hats etc)

Shorouk (Jewellery)

That's all we have for you. Offering lavish designs that showcase a sophisticated colour palette and cool embroidery, these brands have made Dubai a hotbed of innovative fashion design. If you are planning to overhaul your wardrobe with other outlets and brands, our guide to shopping in Dubai will come in handy.

On a happy note: You can find local clothing brands in other emirates of the UAE too. For instance, Madiyah Al Sharqi, a fashion label known for a stunning line-up of daywear and evening wear, has its stores in both Sharjah and Fujairah.

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Local Clothing Brands in Dubai: Buka, Bambah & More - MyBayut

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There are various local clothing brands in Dubai that offer chic and trendy clothing line. We bring you a list of the top ones!

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Expanding a business into a foreign market can be a challenging endeavor, but with the right market entry strategy, the United Arab Emirates (UAE) can become a lucrative destination for businesses seeking international growth. This article provides a comprehensive guide to developing a successful market entry strategy in the UAE.

Understanding the UAE Market
The UAE is a dynamic and diverse market, consisting of seven emirates, with Dubai and Abu Dhabi being the most prominent business hubs. Before formulating a market entry strategy, it is crucial to understand the UAE's cultural, economic, and legal landscape.

Conducting Market Research
Market research is the foundation of any successful market entry strategy. Analyzing the UAE's market size, consumer behavior, competition, and regulatory environment is essential. Identify gaps in the market and assess how your products or services can meet the specific needs of the UAE consumers.

Choosing the Right Market Entry Mode
There are various market entry modes to consider, including exporting, joint ventures, franchising, licensing, and establishing a wholly-owned subsidiary. Each mode has its advantages and challenges. Choose the one that aligns with your business objectives, risk appetite, and available resources.

Adhering to Legal and Regulatory Requirements
The UAE has specific legal and regulatory requirements for foreign businesses. Ensure compliance with company registration, licensing, visa regulations, and other necessary permits. Engaging with a local legal expert can be beneficial to navigate through the complexities of UAE's legal system.

Building Strong Partnerships
Developing strong partnerships with local businesses or distributors can significantly enhance market penetration. Local partners provide valuable insights into consumer preferences and cultural nuances. Establishing trust and maintaining open communication with partners is key to long-term success.

Tailoring Marketing and Advertising
A successful market entry strategy involves tailoring marketing and advertising efforts to the UAE's unique market. Utilize digital marketing, social media, and traditional advertising channels effectively. Embrace the Arabic language and consider cultural sensitivities in your campaigns.

Focus on Customer Experience
Delivering exceptional customer experience is vital to gain a competitive edge in the UAE market. Invest in customer service, offer personalized experiences, and promptly address customer feedback. Positive word-of-mouth can significantly impact brand perception in the UAE.

Monitor and Adapt
Constantly monitor the performance of your market entry strategy and be prepared to adapt. Stay updated with market trends, customer preferences, and changes in regulations. Flexibility and agility are essential to thriving in the dynamic UAE market.

Conclusion
Developing a market entry strategy for the UAE requires thorough research, careful planning, and adaptability. Embrace the uniqueness of the UAE market, build strong partnerships, and prioritize customer experience. With the right approach, the UAE can open doors to new business opportunities and substantial growth.

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Market Entry Strategy in UAE: A Comprehensive Guide

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Expanding a business into a foreign market can be a challenging endeavor, but with the right market entry strategy, the United Arab Emirates (UAE) can become a lucrative destination for businesses...

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The United Arab Emirates (UAE) is a rapidly growing market with a young and affluent population. As a result, it is a prime target for businesses looking to expand their international operations. However, entering the UAE market can be a challenge. There are several factors to consider, such as the country's economic landscape, demographics, and consumer behavior. This blog post will provide you with a step-by-step guide to developing a successful market entry strategy for the UAE. We will cover the following topics:

Understanding the UAE market

Conducting market research

Developing a market entry strategy

Executing your market entry strategy

Evaluating your market entry strategy

By following the tips in this blog post, you will be well on your way to entering the UAE market successfully.

Understand the UAE Market

The first step in developing a successful market entry strategy for the UAE is to understand the market. This includes understanding the country's economic landscape, demographics, and consumer behavior.

The UAE's Economic Landscape

The UAE has a strong economy with a GDP of over $400 billion. The economy is driven by oil and gas, but there is a growing focus on diversification. The UAE is also a major trading hub, with over $800 billion in trade per year.

The UAE's economy is expected to continue to grow in the coming years, driven by factors such as the country's young population, growing tourism industry, and expanding infrastructure.

The UAE's Demographics

The UAE has a young and affluent population. The median age is 30, and the population is growing at a rate of over 2% per year. The UAE also has a high GDP per capita, which means that consumers have a lot of disposable income.

The UAE's population is also very diverse, with over 200 nationalities represented in the country. This diversity is reflected in the country's consumer market, which is open to a wide range of products and services.

The UAE's Consumer Behavior

UAE consumers are brand-conscious and have a high demand for quality products and services. They are also open to trying new things, and they are increasingly interested in international brands.

UAE consumers are also very price-sensitive, so it is important to offer competitive prices. However, price is not the only factor that influences UAE consumers' purchasing decisions. They are also influenced by factors such as brand reputation, product quality, and customer service.

How to Understand the UAE Market

There are several ways to understand the UAE market. You can conduct market research, attend trade shows, or speak to industry experts. You can also use online resources, such as the UAE government's website or the World Bank's website.

The Importance of Understanding the UAE Market

Understanding the UAE market is essential for developing a successful market entry strategy. By understanding the market, you will be able to identify opportunities, assess risks, and develop a strategy that is tailored to the UAE market.

Read more: Unlocking Success with GCC Market Trends: Mastering Battlecards for Optimal Performance

What to Expect in the Next Blog Section

In the next section, we will discuss how to conduct market research in the UAE.

Conduct Market Research

Once you have a basic understanding of the UAE market, you need to conduct more in-depth market research. This will help you to identify specific opportunities and risks and to develop a market entry strategy that is tailored to the UAE market.

Methods of Market Research

There are a number of methods you can use to conduct market research in the UAE. Some of the most common methods include:

Surveys: Surveys are a great way to collect quantitative data about the UAE market. You can survey potential customers, industry experts, or other stakeholders. When conducting surveys, it is important to ask the right questions in order to get the information you need. For example, you might ask questions about the following:

What are the needs and wants of UAE consumers?

What are the challenges and opportunities in the UAE market?

What are the best marketing channels for reaching UAE consumers?

Focus groups: Focus groups are a great way to collect qualitative data about the UAE market. You can gather a group of people together to discuss their thoughts and feelings about your product or service. When conducting focus groups, it is important to create a comfortable and open environment where people feel free to share their opinions.

Secondary research: Secondary research is the analysis of existing data about the UAE market. You can find secondary research in a variety of sources, such as government reports, industry publications, and online databases. When conducting secondary research, it is important to be critical of the data you find. Make sure that the data is from a reputable source and that it is up-to-date.

The Importance of Market Research

Market research is essential for developing a successful market entry strategy for the UAE. By conducting market research, you will be able to:

Identify opportunities and risks in the UAE market

Understand the needs and wants of UAE consumers

Develop a marketing plan that is tailored to the UAE market

What to Expect in the Next Blog Section

In the next section, we will discuss how to develop a market entry strategy for the UAE. We will cover topics such as choosing your entry mode, setting your goals and objectives, and developing your marketing plan.

Develop a Market Entry Strategy for UAE

Once you have conducted market research and understand the UAE market, you need to develop a market entry strategy. This will help you to achieve your goals and objectives in the UAE market.

Choosing Your Entry Mode

The first step in developing a market entry strategy is to choose your entry mode. There are a number of different entry modes available, including:

Exporting: This is the most common entry mode for businesses that are just starting out in the UAE market. You can export your products or services directly to the UAE, or you can work with a distributor or agent.

Joint venture: This is an agreement between two or more businesses to share the risks and rewards of entering a new market. This can be a good option for businesses that want to have a local partner with knowledge of the UAE market.

Direct investment: This is the most complex entry mode, but it gives you the most control over your business in the UAE market. You can set up a subsidiary or branch office in the UAE, or you can acquire an existing business.

Setting Your Goals and Objectives

Once you have chosen your entry mode, you need to set your goals and objectives for the UAE market. What do you want to achieve in the UAE market? Do you want to increase brand awareness, generate leads, or generate sales? Once you know your goals, you can develop a strategy to achieve them.

Developing Your Marketing Plan

Your marketing plan will help you to reach your target market in the UAE. It should include your target market, your marketing channels, and your marketing budget. You should also include a timeline for your marketing activities.

The Importance of a Market Entry Strategy

A market entry strategy is essential for any business that wants to succeed in the UAE market. By developing a market entry strategy, you will be able to:

Understand the UAE market

Choose the right entry mode

Set your goals and objectives

Develop your marketing plan

What to Expect in the Next Blog Section

In the next section, we will discuss how to execute your market entry strategy in the UAE. We will cover topics such as building relationships, launching your products or services, and monitoring your results.

Execute Your Market Entry Strategy

Once you have developed your market entry strategy, you need to execute it. This means putting your plan into action and making sure that you are achieving your goals and objectives.

Building Relationships

One of the most important things you can do when executing your market entry strategy is to build relationships. This includes building relationships with potential customers, partners, and government officials. Building relationships will help you to understand the UAE market and to achieve your goals.

Launching Your Products or Services

Once you have built relationships, you need to launch your products or services in the UAE market. This includes creating a marketing plan, setting a price point, and distributing your products or services.

Monitoring Your Results

It is important to monitor your results as you execute your market entry strategy. This will help you to see what is working and what is not working. You can use your results to make adjustments to your strategy as needed.

The Importance of Execution

Execution is key to the success of any market entry strategy. If you do not execute your plan, you will not achieve your goals and objectives. It is important to be patient and persistent when executing your market entry strategy. It takes time to build relationships, launch products or services, and achieve success.

What to Expect in the Next Blog Section

In the next section, we will discuss how to evaluate your market entry strategy in the UAE. We will cover topics such as reviewing your goals and objectives, making adjustments as needed, and continuing to monitor your results.

Evaluate Your Market Entry Strategy

Once you have executed your market entry strategy in UAE, it is important to evaluate your results. This will help you to see if you are achieving your goals and objectives, and if you need to make any adjustments to your strategy.

Reviewing Your Goals and Objectives

The first step in evaluating your market entry strategy is to review your goals and objectives. Are you still on track to achieve them? If not, you may need to make some adjustments to your strategy.

Making Adjustments as Needed

If you need to make adjustments to your market entry strategy, it is important to do so as soon as possible. This will help you to stay on track and to achieve your goals.

Continuing to Monitor Your Results

Even after you have made adjustments to your market entry strategy, it is important to continue to monitor your results. This will help you to see if the adjustments are working, and if you need to make any further changes.

The Importance of Evaluation

Evaluation is an essential part of any market entry strategy. By evaluating your results, you will be able to see if your strategy is working and if you need to make any adjustments. This will help you to increase your chances of success in the UAE market.

Conclusion

Entering the UAE market can be a complex and challenging endeavor, but it can also be highly rewarding. By following the steps outlined in this blog, businesses can increase their chances of success.

The key takeaways from this blog are as follows:

Understand the UAE market. This includes understanding the country's economic landscape, demographics, and consumer behavior.

Conduct market research. This will help businesses to identify opportunities and risks, and to develop a market entry strategy that is tailored to the UAE market.

Develop a market entry strategy. This includes choosing the right entry mode, setting goals and objectives, and developing a marketing plan.

Execute your market entry strategy. This means putting your plan into action and making sure that you are achieving your goals and objectives.

Evaluate your market entry strategy. This will help businesses to see if their strategy is working and if they need to make any adjustments.

By following these steps, businesses can increase their chances of success in the UAE market.

Want to know how GreyRadius can help you with your market entry strategy in UAE?
Sign-up for a free discovery call below:

About the author, Chirag Bansal:

Chirag is an entrepreneur at heart and loves using storytelling to convey his ideas, both professionally and personally. Born and brought up in Delhi, India, he launched Examformula (an ed-tech platform) and eventually sold it to one of the largest ed-tech players in India. Professionally, he has 15 years of experience across market research, market intelligence, and competitive intelligence for sales, strategy, and knowledge management functions. When not working, you can catch Chirag reading books or creating Instagram reels with his two daughters - Iqra and Noah.

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Market Entry Strategy UAE: A Guide to Success

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Discover the best market entry strategy UAE has to offer! Gain a competitive edge with our expert guidance for successful market penetration.

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 Cristian                                             10 steps to follow for launching a brand company in Dubai

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 Cristian                                             10 steps to follow for launching a brand company in Dubai

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1. Build an incredible, user-friendly website and a mobile app!

2. Know your audience

3. Tell your brand’s story

4. Use photos and videos to promote your products

5. Establish a social media strategy

6. Use influencer marketing

7. Create a content marketing strategy

8. Focus on events

9. Use email marketing and retargeting

10. Run giveaways on social media

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Join a game of kahoot here. Kahoot! is a free game-based learning platform that makes it fun to learn - any subject, in any language, on any device, for all ages!

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Explained Supply Chain Management in 10 Minutes

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To understand supply chain management, it is essential first to know what a supply chain is.  The supply chain includes all the activities involved, from product creation until the product reaches the customer. For example, the supply chain involves sourcing raw materials, production, packaging, shipping, distribution, transportation, etc. The main goal of supply chain activities is to deliver the final product to the customers with maximum efficiency.

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The Key component in supply chain management :

Planning & Sourcing

Making & Delivering

Returning & Enabling

► Making- this component involves the coordination of the production of the planned goods and services. That includes reviewing the accepted raw materials, manufacturing the product, quality testing, and packaging.

► Delivering- involves distribution and retailing the final products. That involves coordinating the orders, scheduling delivery, dispatching or transporting the goods, invoicing, and receiving payment.

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Components of the supply chain planning process are:

•Inventory Management

•Response and Supply planning

•Sales and operations planning (S&OP)

•Demand-driven replenishment (DDMRP)

•Supply chain monitoring

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Sourcing phase in supply management involves:

•Identifying and selecting suppliers

•Negotiating contracts

•Establishing relationships to support the overall chain.

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No.92 ~ Importance of Supply Chain Management |

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Supply chain management is vital to society, providing the mechanism for getting products into the hands of consumers, from essential staples such as food and medicine to luxury items. In business, supply chain management allows manufacturers to make as many products as needed to meet market demand.

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Supply chain management ensures that customers receive the products they ordered on time, that there is no inventory overflow or understocking, that every process is executed smoothly, and more. Supply chain management plays a very big role in manufacturing companies.

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Primary goals of the supply chain management:

● Cost reduction

•Optimising procurement process

•Streamlining production and manufacturing

•Reducing transportation and warehousing expenses

●Improved efficiency

•Increase throughput

•Minimise waste and resource consumption

•Streamline processes across the supply chain

●Enhanced customer satisfaction

•Ensuring on-time delivery

•Providing high-quality products

•Offering exceptional customer service and support

●Increased flexibility and agility

•Responsive production planning

•Quick decision-making and adaptation to changing circumstances

•Building strong and flexible relationships with suppliers and partners

●Risk management

•Supplier disruptions or failures

•Political and economical instability

•Natural disasters and extreme weather events

●Sustainability

•Implementing eco-friendly production processes

•Reducing waste and energy consumption

•Sourcing materials and components from sustainable suppliers

•Incorporating circular economy principles(reduce,reuse,recycle)

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‘Efficient’ supply chain model

This supply chain model is for industries, which belong to highly competitive markets like the cement and steel industries. The main motto of this model is maximising end-to-end efficiency along with increased rates of asset utilisation for reducing costs.

With this supply chain model, the business expects to provide accurate production forecasts for preparing raw materials and machinery accordingly. The competition is almost completely based on cost.

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‘Custom-configured’ model

This supply chain model is perfect for products where there is a requirement for potentially unlimited or multiple product configurations. This model has a high correlation between total cost and asset cost.

Product configuration takes place during the assembly process where the assembling is done as per the specifications of the customer. This supply chain model has a unique combination of the different processes of the agile supply chain model and the continuous-flow supply chain model.

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AGILE SUPPLY CHAIN

The organization needs to train their people properly. Well-trained people can master their roles, make the right calls, and become high-performers.

Organizations need to equip their people with the right tools and processes to improve their chances of success.

•Accurate information

•Comprehensive Control

•Rapid Decision-making