Abu Dhabi Bank, Telecom and Oil Companies

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Table of Contents

Abstract
Executive Summary
Introduction
Group Reflections
References

Abstract

Abu Dhabi Commercial Bank, Etisalat and Abu Dhabi National Oil Company have realized significant growth and development since their establishment. The companies have successfully gained the recognition and trust of the UAE citizens. In addition, conformity of the companies to the international standards acts as a fundamental tool in the development of the latest. Not to be left behind is the fact that these three companies were established in the UAE and today they present some of the leading companies worldwide in their individual fields and there are different operational strategies realized and established by the companies in the establishment and running of their individual programs.

Executive Summary

The three companies and business entities contribute to the growth and development of the social and economic standards of the UAE. Similarly, the objectives and running of the companies rely on individual research and relation. This indicates the diversity of the fields of the companies and the recognition of the different achievements and progresses. However, there are numerous similarities amongst the three companies. This paper will therefore address the significant differences and similarities among the three companies in relation to the establishment, running and growth of the corporations.

Abu Dhabi Commercial Bank (ADCB) was founded and established in the UAE in the result of the merger of different banks that joined to form a strong and reliable financial company. The enhancement and realisation of the bank assists the local citizens in their daily transactions and transfer of money (Hassan Al-Tamimi & Mohammed Al-Mazrooei, 2007). The involvement of ADCB in foreign countries indicates that the bank management realises the availability of the international market and possibilities of growth and development (Jamal & Naser, 2008).

In addition, the established branches in the various regions give the bank an upper hand in the process of globalisation through international market. Research indicates that the Bank has approximately three thousand employees. The development and growth of the bank has resulted in the opening of branches in different countries. This illustrates the ADCB bank’s level of commitment and strategic planning.

The citizens of the different countries where the bank operates have the advantage of money transfer, access to money deposits withdrawal from various locations. The facilitation of the bank in the different countries adds advantages to the international trade and globalisation (Jamal & Naser, 2008). The bank uses the Sharia laws in the provision of the different monetary and nonmonetary services and Ijara, which involves the purchase of the clients’ belongings by the bank with respect to the clients demands. In addition, the country receives a high accumulation of revenue generated from the profits earned through exportation of oil and related products.

The use of this service in the UAE promotes the effectiveness of the relationship between the bank and its clients. Murabaha is another service offered by the company or bank to the clients. In this service, the clients are entitled to honouring the pledges made to the bank in the facilitation of credits (Jamal & Naser, 2008). The stipulation of these services creates an understanding and mutual understanding between the bank and the local population.

In addition, the bank extends assistance to the clients with an aim of maximizing profits and creating job opportunities for the local citizens. The provision of promotional strategies has worked positively for the bank. The result of this is evident from the realization of the development in different regions in the UAE and in other foreign countries. Use of pleasant mortgages, after-sale services and the use of discounts have resulted in the high rate of growth of the bank (Jamal & Naser, 2008). The provision of incentives facilitates customer attraction to the different offers made to the customers by the business entities. Provision of financial and mortgage services acts as a fundamental obligation of the bank.

Etisalat has also developed communication outlets in other countries. This indicates that the telecommunication and ICT services offered by the company are reliable and sufficient (Ayish, 2005). The company was established in the UAE where its operations started. It currently serves around eleven million citizens from UAE. Etisalat Company offers various monetary services to willing customers through the provision of online payments. The detailed research in the telecommunication and in ICT has enhanced the growth and development of the company over the past four decades (Ayish, 2005).

Abu Dhabi National Oil Company was also established in the UAE. It is termed as one of the biggest producers of oil in the world. From the research conducted by many scholars, ADNC provides various services through different programs (Maraqa & Al Handhaly, 2005). This has resulted in various acknowledgements amongst the different companies and business entities. The company has been rated as one of the most active and reliable providers of oil worldwide (Sanford & Al Habshi, 2009).

The oil company provides services and sale of products to the different regions, states and countries worldwide. The country receives a high accumulation of revenue generated from the profits earned through exportation of oil and related products. (Sanford & Al Habshi, 2009). The creation and location of Abu Dhabi National Oil Company in the UAE has resulted in various acknowledgements amongst the different companies and business entities.

Introduction

Abu Dhabi Commercial Bank, Etisalat and Abu Dhabi National Oil Company have realized significant growth and development since their establishment. The companies have successfully gained the recognition and trust of the UAE citizens, as well as investors and customer from all over the world. Due to the strict following of the international standards and implementation of the new technologies, as well as adherence to clients’ need, the companies have gain a recognition the word arena. In this project we will talk about these three companies which are ADCB Bank, Etisalat and AD oil company.

Abu Dhabi Commercial Bank (ADCB) is the leading provider of monetary services in the United Arab Emirates (UAE). Research indicates that the Bank has an approximation of three thousand employees. The development and growth of the bank has resulted in the opening of branches in different countries. This illustrates on the banks level of commitment and strategic planning (Hassan Al-Tamimi & Mohammed Al-Mazrooei, 2007). The involvement of ADCB in foreign countries indicates that the bank management realises the availability of the international market and possibilities of growth and development.

Etisalat is a telecommunication company based in the United Arab Emirates (UAE). The operations rendered by the company facilitate a significant provision of services to different customers (Ayish, 2005). The detailed research in the telecommunication and in ICT fields has enhanced the growth and development of the company over the past four decades. The deployment of different technologies helped to involve more professionals from abroad , as well as from local population.

Research indicates that Etisalat is among the most recognized and most appreciated companies in the UAE , the facilitators of telecommunication services. It currently serves approximately eleven million citizens from the UAE. The Emirates is considered as the most industrialized country in terms of usage of fibre-connection, which is facilitated by the provision of Etisalats’ services (Ayish, 2005). There are numerous services and contributions related to the company through the establishment of different organisations.

The company is rated as one of the biggest providers of oil worldwide (Sanford & Al Habshi, 2009). The creation of the company has contributed to the employability of the local citizens and attracted professionals from other countries, and improved social and economic standards of different people. In addition, the country receives a high accumulation of revenues generated from the profits earned through exportation of oil and related products. The facilitation of job opportunity through ADNOC attracts international contractors hence widening the cohesion and relations between the UAE and other countries and states.

Group Reflections

There are many different countries which contribute to the successful development of the company. In the recent decades, the companies which started in the United Arab Emirates demonstrate high and efficient expansion practically in al fields of the international market. One of such companies are Abu Dhabi Commercial Bank, Etisalat and Abu Dhabi National Oil Company which have seen significant growth and development since their establishment.

The management, marketing and human resource techniques employed by these corporations helped them expand quite quickly and gain global recognition. In addition, the three companies which were established in UAE and are now some of the leading companies worldwide in their individual fields. These corporations, though providing different services and working in different field, have gone almost similar paths on their way to success.

However there are different operational strategies realized and established by the companies in the establishment and running of their individual programs. Abu Dhabi Commercial Bank enhances the exchange of money and facilitation of monetary services, as well as it creates job opportunities for the local population in the UAE and in other countries where the bank has established various branches, and it acts as a recognizable tool in the growth of the banks reputation. In this, it is similar to Etisalat in the provision of monetary services (Ayish, 2005). In addition, the growth and development of the companies in accordance with the international standards acts as a fundamental tool in their development.

The provision of credits facilities and other financial assistance opportunities which gives recognition and effectiveness in the global arena. In addition, the established branches in the various regions give the bank an upper hand in the process of globalisation and through international market. Provision of the telecommunication and ICT services in most of the African countries by Etisalat group of companies indicates that the services are affordable to everyone.

There are numerous services and contributions related with the company through the establishment of different organizations (Ayish, 2005). The deployment of different fixed and mobile technologies by the company has resulted in significant assistance to the growth of the different organizations, institutions and companies. The realisation of growth and development of the companies has been enhanced by the high level of competitive strategies in the operations and provision of services. The country receives a high accumulation of revenue generated from the profits earned through exportation of oil and related products.

References

Ayish, M. I. (2005). Virtual public relations in the United Arab Emirates: A case study of 20 UAE organizations’ use of the Internet. Public Relations Review, 31(3), 381-388.

Hassan Al-Tamimi, H. A., & Mohammed Al-Mazrooei, F. (2007). Banks’ risk management: a comparison study of UAE national and foreign banks. The Journal of Risk Finance, 8(4), 394-409.

Jamal, A., & Naser, K. (2008). Customer satisfaction and retail banking: an assessment of some of the key antecedents of customer satisfaction in retail banking. International Journal of bank marketing, 20(4), 146-160.

Maraqa, M., & Al Handhaly, J. (2005). Impact of land disposal of reject brine from desalination plants on soil and groundwater.Desalination, 182(1), 411-433.

Sanford, W. E., & Al Habshi, A. R. S. (2009). Source of solutes to the coastal sabkha of Abu Dhabi. Geological Society of America Bulletin, 114(3), 259-268.

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