Basic Legal, Social, and Economic Environments Case
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Abstract
This paper will analyze the organizations basic legal, social, and economic environments. It will also analyze the organizations managerial, operational, and financial issues as well as the impact of potential change factors and the impact on the functions of management. This paper will cover details on the critical path, project management and timelines, implementations and staffing needs.
Individual Project 5
Introduction
In the real estate division Emaar Properties PJSC is the world largest company. It is a part of the Dow Jones Index and listed in the financial market of Dubai. It is a company that develops homes, hotels and community centers according to customers demand with stylish lifestyles. “Emaar is also providing various other services of hospitality, malls, financial services, health cares services and leisure services. Emaars operations are established in many countries like United Arab Emirates, U.S.A, U.K, Syria, Jordan, etc.” (About Emaar, 2010).
Legal Environment
The company wants to be expanded globally and increase different business segments. Extenral environment helps the company to shape its structure and improve its operations work. It is very important to recognize the legal environment of the country where they wants to start operation. UAEs legal system is a mixture of classical and modern ideas like growing the country with the modern arrangement and also insuring that the traditions are retained. Consequently, The UAE government took a number of steps to reform the complete structure that can help to provide the country with all the modern services along with great services at suitable price.
Likewise, Emaar has developed its formation by providing best services to countrys population like best homes, community centers at effectual prices and also many other services like leisure, malls, education, hospitality. These actions assist a long way in facilitating expansion of the country. As a consequence of mutual give and take, the government hence supports Emaar Properties. Government is having a partnership control of approximately 32% in the Emaar Companys share holder-ship and so the company has large approach to the land for developing components.
Economic
During economic crisis government helped the country by providing millions to banks. So, the company can get loan during economic crisis. “Emaar has joined hands with the Jebel Ali free zone, which is growing at a very high rate. The partnership helps in the growth and development of the company and this in turn facilitates the economys growth as well” (Finkler, et. al., 2007).
Social
Social environment is very important and have an impact on the organizations working. If their workers are not satisfied then they make sure that their problems can get solved. They have conducted customer satisfaction surveys.
Emaar Properties has also won awards for quality and environment standards. Emaar conveys progressive ideas in order to make the society eco-friendly, such as using Earth Watch, which is a recycling strategy being used in their communities and has obtained popularity because it offers a strong environment to the society (Corporate Governance, 2010).
The economy of UAE enhances when the oil costs grow, this assists in increasing the pace of economic development. The country uses the extra money produced in financing the activities such as manufacturing, constructing, and more. This has led to a rise in the flow of capital within the country. Emaar Properties is building houses that are fulfilling the demands of the residents. It has acquired high income from all of the services gained by the population. Emaar Properties was announced the winner in the real estate growth.
This helps in understanding the fact that the corporation is assisting in developing the economy of the country (Emaar Properties records first quarter 2008 profits of AED 1.655 billion, 2010).
Emaar Properties, Dubais biggest real estate developer, has acquired the development of 122% in the first 1/2 of 2010 in comparison to last year. The corporation has produced high profits from high services. Moody Investor Service has provided it the modest rating and discovered the problems such as unsold goods and refinancing risks. The rating has reduced because it is connected with the sales of unsold products in the local market as well as in the global market, and also because of the amount gathered from the pre-sold houses or additional properties and refinancing.
Project management
Project administration activities of the corporation work for finishing the project on time by necessary managing and preparing the resources and meeting the objectives of the corporation (Dubais Emaar records 122% growth in first half, 2010). Emaar project of developing new projects adopted by the Emaar is to build the building known as Burj Khalifa, but it had a number of problems, due to this the project got interrupted and the construction work time lengthened from what was anticipated. These problems linked to the project of the corporation include; delay in offering the employees with the needed materials on time, the different labor problems also got increased because they were not treated correctly. A few examples of ill treatment to workers include; unsuitable living conditions of the labors, decreased wages to the labors.
Project time line
The concern of project time-line