Introduction
Saudi Arabia General Investment Authority was created by the Saudi government in 2000. This authority may be regarded as the body responsible for the development of the petrochemical industry in Saudi Arabia, nevertheless, the main aim of the authority is the attraction of investment resources. The key problems which the body experiences are closely associated with the communication practices, the IT sphere in general as well as the systematization of the existing investment data.
Software Quality Discussion
The quality of the software may be regarded as the key aspect of the company’s activity effectiveness. Because investment presupposes quick information spread and accumulation, a lack of informational flow may cause effectiveness failure. Hence, one of the most evident problems of the low software quality is the impossibility of effective communication with other companies. The activity of the investment authority is based on the process of constant and timely update of the economic information, with further classification and analysis of the input data. (Cordesman, 2003) If the communication software is of low quality, the communication process will be arranged with inevitable data losses and delays. While the company acts within the circumstances of low competition, these delays and failures may be compensated by correct and systematic analysis of the data.
The next IT problem is that the amount of software is not sufficient. The authority needs more software tools for information gathering, analysis, systematization, storing, and issuing. All the problems which the company faces are closely linked with the impossibility to arrange the proper IT structure which will be responsible for the implementation of the required software. (Jameson, 2000)
Another aspect of the communication problem is the language barrier. The team of the SAGIA is not required to know foreign languages as the specification of their work presupposes an analysis of the Saudi market only. Nevertheless, as the body was intended for attracting investments into the petrochemical industry of the country, it should be stated that foreign investments would be appreciated by the authorities which represent Saudi economic development. Hence, the team of SAGIA needs to study foreign languages to expand the contacts, extend the cooperation, and improve the investment activity, associated with data collection and analysis. (El Sheikh. 2003)
One of the most serious problems that the SAGIA faces is the lack of an effective data storage system, as well as the lack of a database with the investment information. (Chen and Thorson, 2005) Because the actual importance of the investment information is explained by the fact that this information is gathered for a particular period, and is represented in the shape of graphs, diagrams, tables, etc. Hence, to systematize the information, provide the proper analysis, and provide the analyzed and systematized information to those who are interested in investment, the authority needs to have a properly adjusted database, where the information will be stored and recalled from the storage following the selected choice criteria. (El Sheikh and Graham, 2003)
Conclusion
Finally, it should be emphasized that the company which is involved in the investment activity and attraction of the investors into the development of the Saudi economy requires the implementation of properly adjusted communication and IT structures. Hence, the company needs to improve data collection, storage, analysis, and issuing systems to provide up-to-date information for partners, and for timely updates of the investment information.
Reference List
Chen, R., Thorson, E. (2005). The Impact of Newsroom Investment on Newspaper Revenues and Profits: Small and Medium Newspapers, 1998-2002. Journalism and Mass Communication Quarterly, 82(3), 516.
Cordesman, A. H. (2003). Saudi Arabia Enters the Twenty-First Century: The Political, Foreign Policy, Economic, and Energy Dimensions. Westport, CT: Praeger.
El Sheikh, F. R. (2003). The Legal Regime of Foreign Private Investment in Sudan and Saudi Arabia (2nd ed.). Cambridge, England: Cambridge University Press.
Jameson, D. A. (2000). Telling the Investment Story: A Narrative Analysis of Shareholder Reports. The Journal of Business Communication, 37(1), 7.
Wilson, P. W., & Graham, D. F. (2003). Saudi Arabia: The Coming Storm. Armonk, NY: M.E. Sharpe.