Professional Service Firms
In the current competitive business world, professional service firms have realized that it is vital to attract, recruit and maintain top talent. These firms recruiting business school graduates ensure that they compete effectively with other companies like investment banks.
The business school graduates are used to develop the firm’s clientele relationship, talent base and intellectual property. The business school graduates are mentored through various programmes and then used to establish an increasing flow of talent that becomes a worthy surround: high quality group, exciting opportunities and rapid career development. It is also clear that the various professional service companies have understood the importance of controlling talent and team building.
Service firms in United Arab Emirates
Some of the companies using both the strategy of focus and differentiation and strategy of focus and overall cost leadership include: Geokinetics, Gyrodata, Ernst and Young, Gartner, Deloitte Consulting, Computer Associates, Cognizant, Computer Science Corporation (CSC), Grant Thornton, Cameron, China Oilfield Service, Challenger LTD, Alix Partners, Arthur D. Little, Bain and Company, Booz and Company, Wipro Technologies, Sapient, Robert Half International, Milliman, Manpower, Core Laboratories. Inc, Logica, Mercer Consulting, Trican Well Services, Monitor Group, Omnex, Oliver Wyman, Egon Zehnder International and Global Intelligence Alliance, Geophysical Services and Flowserve.
Globalization
Globalization can be defined as the emergence of an international society whereby cultural, political, economical, aesthetic attitudes and environmental systems, in other parts, spread rapidly to the rest of the world. The implementation of globalization in the modern society has led to the prospect that cultural differences in business and other sectors would be eroded.
Cultures and people’s unique behaviors of capitalism would be similar, as the universe becomes a single marketplace. The discussion above has some truth in it, though some parts of the world tend to preserve what is unique about their nation’s capitalism and to prevent interference and spreading.
Strengths and Weakness of Globalization
The benefits of globalization include the unmatched leaps in human advancement. Technology advancement has grown both virtually and physically: mobile telephony, Internet and infrastructure. The spread of trade, people, education and cultures have helped greatly in eradication of poverty and improvement of economic opportunity. However, the negative aspects include inequity between and within regions, increased insecurity and scarcity of resources, food insecurity, cyber security and water shortage.
The weakness of the society as a result of the shortcomings above challenges the core benefits that globalization is the foundation of institutions, business leaders, and regions. It is critical to find proper ways to counter the weakness of globalization because there is a considerate threat that the failure to control globalization can lead to nationalism and xenophobia. Therefore to reject globalization would severely destabilize economic advancement, global cooperation, social growth and poverty alleviation.
Comparative advantage
Comparative advantage is the ability of a region to manufacture or produce goods and services at a lower cost. Dubai is one of the countries that form the United Arab Emirates. Dubai has the most modern and inclusive developed infrastructure: world-class airports, seaports, conference centers, financial service, healthcare, hospitals, universities, restaurants, schools, shopping malls and entertainment regions.
This has kept Dubai ahead in the UAE region. These advantages have made Dubai have a competitive advantage and it has attracted various global investors and the international business society; Dubai has various opportunities specifically for emerging international markets.