Establishing,Business,UAE,Requ business, insurance Establishing Business in UAE Requires Financial Resources an
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Setting up a business may take only some months. The real issue is to make a business profitable. Running a business is not an important thing and the thing that matters the most is whether or not the business is run profitably. If the business is run in a profitable manner, the cash inflows to the company get better every day. However, when cash inflows are lower than cash outflows, the company struggles to ensure existence and in such cases one need to forget near future chances of business expansion. The recovery needs some good efforts on the part of people in all the three levels in the organization. The first and the top most level in the organization is that of strategic employees that include directors and General Managers. In the next category which is remembered by the name of strategic apex or strategic core, the employees include senior, deputy and assistant managers. In the operation level the employees include supervisors and workers. In UAE companies, the task for the above mentioned three levels of employees is broken down. The top level hierarchy is responsible for decision making and needs to do business in the most profitable manner. They are required to take decision that are of long term nature and involves heavy investment of finance. Such decisions carry higher risk than the decisions that are required to be taken in any other category. Business in UAE also has that middle core that is responsible to take decisions that are of medium term range. The decision includes things to decide that are relevant to the acquisition and disposal of resources. The decisions are taken in order to comply with the decisions taken at the top level managers or directors. The level of controls exercises or the decision making done at the lowest level of the organization by supervisors and workers are of short term nature. They include work that is of day to day nature and requires as regards to how to consume the resources that are allocated by the middle level management.Now we would talk on the matter of reporting. The reporting at the strategic or the highest level of organization is made infrequently. The reporting is done in order to ensure and track the progress of the long term direction of the company. The strategic core is responsible to decide which markets should enter and the products that are required to be made. So they need to report the progress of their tasks, goals and mission. Reporting requirement at the middle level is frequent and is usually monthly, quarterly or semi annually. For some specific matters like the tracking of the progress of employees, the reporting for their performance is made on annual basis. For reporting requirements at the lowest level of the organization, it is daily quite frequently and in many cases it is done on a regular basis. The format of reporting at all levels should be agreed in advance. The format should be decided and be changes as and when required. Format includes describing the language, currency and general format of reports.
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