The Reason for the Choice of the Topic
There is no use denying that the success of the governmental organizations is crucial to the economical state of a country. However, in 2013, the UAE seem to be the exact representation of a too-much-of-a-good-thing paradox: while the governmental sector witnesses incredible success and extremely high rates of employment, the private sector seems to be regressing, which leads to a number of economical issues. Since the impact of the private sector on the state economy is as significant as the one made by governmental organizations, the means to restore the balance between the two in the UAE must be sought.
Problem Identification: Government vs. Private Sector
Being extremely powerful and offering a number of opportunities of the further career growth, the UAE government sector does not allow private entrepreneurship develop, which might lead to economical and financial problems and which stands in sharp contrast to the situation experienced in the United Kingdom, where the governmental sector seems to have lost its value and authority, making way for private entrepreneurships to grow.
The above-mentioned situation in UAE presupposes that no premises for the private entrepreneurship development are provided; as a result, the latter do not have any tangible effect on the state political and economical affairs. Therefore, no new ideas are brought to the table, which can possibly lead to economical stagnation.
Research Question (Hypothesis): Boosting the UAE Private Sector Development
As one might have guessed, the key to successful improvement of the current state of affairs within the UAE economy is to provide the means to support the private sector and promote it among the general audience without harming the government enterprises. While the procedure does presuppose taking the status of the governmental companies down a few notches, it is still required to keep the latter
Research Approach: Incorporating the Wisdom of the East and the Business Acumen of the West
Since the current UAE strategy on private business and governmental organizations stands in sharp contrast to the one applied in the United Kingdom and the rest of Europe, it can be suggested that the key to crating a successful strategy for the UAE is to combine the existing methods with the ones that are exercised in the UK. Among the first steps that are to be taken, privatization of several governmental organizations should be mentioned.
The research approach, thus, is going to combine the elements of quantitative analysis, i.e., the calculations of the current percentage of governmental organizations compared to the private ones, the state annual GDP and GNP, as well as the supposed changes that the privatization will bring, and qualitative analysis.
The given analysis presupposes comparing and contrasting the UK and UAE current strategies to distill the one that the UAE should adopt to change the significance of private entrepreneurship. It can be assumed that the research will focus on the current types of business strategies in the UAE and the UK to choose the features that will help improve the former and come up with a plan for the further private sector development.
The Expected Results: Slowly, but Steadily
As it has been mentioned, compared to the situation in European states, such as the United Kingdom, one must mark that in the latter, the government is facing the exact opposite problem, with the financial sector dominating most of the governmental structures. Therefore, the possible way out could lie in combining the economical strategies of the UK and The UAE to produce the one that could possibly encourage the development of the private sector and at the same time would not let the governmental one face the crisis of its own. It can be expected that the given research will end in defining the golden mean between the current UAE policy and the UK policy towards the promotion of the private entrepreneurships and the encouragement of the private sector growth.
Of course, it would be a mistake to expect that the private entrepreneurship of the UAE will immediately rise from the ashes and start contributing to the state’s economy. Quite on the contrary, the reconstruction of the entrepreneurial business system will take a considerable amount of time, especially in the light of the fact that it will be necessary to find a compromise between the private and the governmental sector and, therefore, develop a completely new strategy.
Limitation
Sadly enough, the given research also has its limitations, which predetermines the approximation of the research results and the necessity to adjust the chosen strategy towards every specific case of private entrepreneurship. Since it is impossible to embrace every single factor that influences private entrepreneurship development, some of the above-mentioned factors might pass unnoticed in the given paper. However, coining basic general guidelines will still help spur the development of private business sector even with the existing limitations standing in the way.