Possible future scenarios and the actions plans to ensure a positive outcome for ATIC
ATIC is an investment organization that operates in Abu Dhabi to reach its financial and socio-economic objectives. To ensure a positive outcome for the company, its top management team plans activities for the future. It is believed that the creation of a physical infrastructure in the city will bring success to ATIC. Except for that, it is critical to introduce the advanced technology community and alter the way individuals treat the ecosystem.
The organization is expected to help Abu Dhabi in becoming a technology innovation and manufacturing center. To achieve such goals, the top management team should consider how it can promote economic and social transformation. It can refer to informatization and support transparency and provide a wider range of employment opportunities for a diverse population. ATIC can increase the value of its products emphasizing its advantages and unique characteristics. Of course, constant innovation and integration of advanced standards and strategies are likely to help. The company should update technology and provide more opportunities for interaction with customers.
As the key stakeholder of the company is government, their policies and strategies should be adjusted to coincide. The government’s support will attract clients and make ATIC look more attractive for foreign partners. The management team should evaluate assets so that they will be treated and financed equally. It is critical to forecasting all possible risks not to underestimate them and their influences on customer reactions and integration. Investment and risk mitigation strategies should be implemented. Because of globalization, ATIC should analyze its market constantly and receive feedback to adjust to the needs of customers (“Managing the Economic and Social Transformation” 9).
Extending emiratisation plans to the broader community
ATIC is focused on diversification and is willing to implement its values to other countries. The company is willing to promote a knowledge-based economy and needs to cooperate with other countries such as the USA. Still, it should be taken into consideration that the values in the countries differ. In this way, the patience emphasized in the UAE is likely to face resistance in the USA because short-term goals are more critical for it. On the other hand, improvement of value creation and performance is likely to be supported by Americans, as they consider innovation and mobility to be advantageous (“10 Core American Values” para. 10).
Except for that, both countries value planning and setting goals and believe in the importance of socio-economic objectives. To make the USA accept the insights and lessons of the UAE, it is critical to position them so that the advantages for healthy competition and progress are emphasized. For example, the value of patience can be extended along with the considerations of future opportunities that are sure to be achieved and bring success to the company.
The values that the Human Capital Department should work hard towards creating in Fab 9
Innovative human resources management must consider the value of information technology networks, employment relationships, and the adoption of innovative practices (Ichniowski and Shaw 173). Individuals who are ready to become a part of one unit and be in charge of their actions should be recruited. They should be diligent and persuasive to be able to reach the company’s goals (Dilenschneider para. 3). Except for that, they should be creative and reactive, which promotes development and improvement. Of course, discipline plays a vital role, and organizational hierarchy should be appreciated. ATIC can implement appraisals to support these values. Shared views can be transferred through training programs for performance improvement and reinforced by the code of ethics.
ATIC’s strategic competitor industries
ATIC and other companies in the industry are considered to reduce their costs due to the extension. Still, several years are needed to make fab operate in his way, which proves that the expenditures will be rather high from the very beginning, and the operation of new technology will require high costs from the customers. Organizations in the steel and petrochemical industries tend to give up on being a semiconductor. They outsource materials instead of manufacturing them, which influences the quality of products and spending. Thus, the number of competitors reduces, which might let organizations worsen their performance and slow down innovation and development. In this way, the demands of the employees become reduced, which influences performance.
ATIC’s balance of multiple stakeholders in the ecosystem development
ATIC has multiple stakeholders that is why the organization must balance them. The main stakeholder is government but the Semiconductor Research Corporation, Technology Development Committee, educational establishments (such as local and international universities), and organizations from the employment sector (such as Tawteen Council and Tanmia) are also involved. The company needs to consider its customers, employees, and investors.
To balance them all, ATIC should assess its power and align corporate values. Their reputation values and vision should be evaluated so that they can be classified into buyers, funders, builders and influencers (Foley and Kendrick 64). Then their importance for organizational success should be defined. The conversation with the stakeholders should be managed in one way (directly or indirectly). All in all, the main point is having shared values and views on ecosystem development.
Key points for ATIC to help Abu Dhabi become a key destination for advanced technology
If ATIC is willing to “help Abu Dhabi become a key destination for advanced technology”, it should consider such things as (Balakrishnan et al. 94):
- Cooperation with startups.
- Cooperation with government regulators and education establishments.
- Attraction of international interest.
- Interaction with foreign customers.
- High-quality and unique characteristics of products.
- Improved performance through creativity and innovation.
- Entering collaborative communities.
- Attracting diverse members (Toivonen and Friederici para. 14).
Works Cited
10 Core American Values. n.d. Web.
Balakrishnan, Melodena, Ian Michael, Tim Rogmans and Immanuel Moonesar. Actions and Insights: Middle East North Africa, Bingley: Emerald Group Publishing, 2012. Print.
Dilenschneider, Robert. 5 Core Values for the Workplace, 2013. Web.
Foley, John, and Julie Kendrick. Balanced Brand: How to Balance the Stakeholder Forces That Can Make or Break Your Business, San Francisco: John Wiley & Sons, 2006. Print.
Managing the Economic and Social Transformation 2007. Web.
Toivonen, Tuukka, and Nicolas Friederici. Time to Define What a “Hub” Really Is, 2015. Web.