Project Related to Business Excellence Course
The project idea is to understand the aspects that can bring the most value to the customers worldwide. The key characteristics of the UAE Exchange Center are aimed at the improvement of the business processes that are controlling the business process in order to advance the current operations and the overall performance of the UAE Exchange Center on the market and in the industry as a whole (Griffin and Pustay, 2010).
At the same time, the research addresses the objectives of finding the information on how to reveal the excellence in people by means of the working process. Such a target could be achieved through the critical analysis of the UAE Exchange Center operations in terms of the Dubai Business Excellence Award Program (Partnering for Success, 2012).
The idea is to find the solutions that could help the UAE Exchange Center project the business excellence in the daily operations throughout the process of constant improvements. Therefore, the research projects the organization of the overall procedure of managing people by means of delivering the best results with the use of all the available resources that the UAE Exchange Center owns (Richard and Beatty, 2005).
The perspective of the research is to address the rational for managing a specific business model that will provide the most favorable solutions for the UAE Exchange Center operations. The idea is to control the fulfillment of the each process from the very beginning till the very end by means of attaining the business approach that will have the most contribution into the business processes along with the most favorable outcomes based on the best working scenarios.
Organization Information / UAE Exchange Center Background
The research UAE Exchange Center that is important for the chosen business model is called the UAE Exchange Center. It offers a variety of international transfer and foreign exchange services. At the same time, it deals retailing services, including the payment of bills, prosperity supervision, cell phone goods, travelling and trips, creating of accounts, and a great number of programs in terms of trustworthiness. One of the key services is the networking of the financial services in the Middle East Asia (Griffin and Pustay, 2010).
In parallel, in the world of today, great deal of customers are willing to pay for the corporate services, including the payroll, commercial currency assortment, and payout money services. The UAE Exchange Centre LLC is located in Abu Dhabi, United Arab Emirates. At the same time, the UAE Exchange Center has subsidiaries in about 30 countries and 650 branches; it lists over 6 million customers, 150 correspondent tasks, 8000 professionals and 40 nationalities.
The overall history of the UAE Exchange Center started from the tendency to boost its effectiveness and efficiency on the world market by means of numerous achievements in the industry of the so-called “exchange house”. The overall corporate perspective is aimed at the business opportunities through the prism of International technologies with the core values of the UAE Exchange Center aimed at people globally (Porter and Tanner, 2012).
Excellence Model / Award – Dubai Business Excellence Award
Today, there are numerous excellent award models that can help promote the business excellence, including the International Quality Awards (EFQM, Bald ridge, and Deming), national quality awards (SKEA, Dubai Quality Award, Abu Dhabi Award) or ISO 9000 applications, etc. For the research, the Dubai Quality Award was chosen to be the business excellence model of concern for the given UAE Exchange Center (Government of Dubai, 2013).
Therefore, the research will demonstrate the description of the excellence business award model with the purpose to best address the organization and its challenges towards the operational efficiency on the world market. In all, the Dubai Quality Award model could be acknowledged through the Dubai’s Department of Economic Development (Richard and Beatty, 2005).
The critical analysis addresses the core problems of the UAE Exchange Center that are based on the fact of delivering the value to people all over the world. At the same time, it is important to find the solutions to the problems by means of challenging the business model award towards the effectiveness and efficiency of the working process. The idea is to maintain the improvements every single day by addressing the step-by-step actions on the road to success of the UAE Exchange Center (Partnering for Success, 2012).
In terms of the Dubai Quality Award Program, the UAE Exchange Center can follow the below criteria that address the aspects such as (1) The Dubai Quality Award Gold Category (GOLD), (2) The Dubai Quality Award (DQA), and (3) The Dubai Quality Appreciation Program (DQAP). Thus, the approach of the UAE Exchange Center to improve its operations could be based on the three categories of the Dubai Quality Award. In other words, the award is hidden in the validity and appreciation of the business processes that are important for the UAE Exchange Center (Griffin and Pustay, 2010).
In all, the Dubai Quality Award Gold Category (GOLD) could be explained through the proper organization of the winning approaches through the Dubai Quality Award (DQA) as this is the core of understanding the key to performance of the UAE Exchange Center as well as the improvements of the business processes. Therefore, the UAE Exchange Center could project the results by means of daily improvements that can help to maintain the operations of the UAE Exchange Center (Porter and Tanner, 2012).
At the same time, the Dubai Quality Award (DQA) could be explained by means of the sector in the economic scale, including the fact of retailing, manufacturing, finance, selling, marketing, management practice, etc. The idea is to manage the operations on the gold level of operations that the UAE Exchange Center can maintain by means of generating the marginal outcomes of the UAE Exchange Center and its operations (Government of Dubai, 2013).
Simultaneously, the Dubai Quality Appreciation Program (DQAP) could be understood through the means of certification in a variety of categories that define the business excellence towards the appreciation of the business processes. Besides, in this case the efforts of the UAE Exchange Center are aimed at the knowledge of evoking excellence in other people with the help of business matters, including the proper organization of businesses by categories as well as the fact of diversification of the organizational processes (Richard and Beatty, 2005).
Therefore, the means of award could be controlled by the fact of validity of the system that the UAE Exchange Center approaches by means of its daily operations. Hence, the fact of the UAE Exchange Center performance is based on the public operations that are managed through the processes of awards and marketing potential on all the levels of organization.
The overall achievements could be defined with the means of sustainability through the prism of the business role model that has a huge impact on the innovation and business environment as long as the process of constant improvements continue to support the aim for achievements. Therefore, the improvements of the UAE Exchange Center could be maintained through the operations that are possible with the help of the predictable administrations from the position of the Appreciation Program (Partnering for Success, 2012).
Thus, the Dubai Quality Award could be used to understand the process of managing the information that is used to evoke the excellence in people. Therefore, the organization of business processes could be maintained with the help of the feedback that reports the application of different aspects of improvements (Griffin and Pustay, 2010).
Thus, the actions of people play a vital role in the system of the UAE Exchange Center as well as in the categories of business processes that are aimed at delivering the best value to the people. Hence, the improvements could be reached due to the minor advancements of every particular member or process in the organization (Porter and Tanner, 2012).
The award resources adhere to the improvement of the business processes as well as the overall operations within the UAE Exchange Center in Dubai. Thus such an approach improves both external and internal selling efficiency of the trade operations. At the same time, any success is not possible without the demonstration of the pure commitment of people to their work and the process of practicing the business matters (Government of Dubai, 2013).
At the same time, it is not possible to manage the UAE Exchange Center expectations without the constant challenge of competition. Thus, the companies that are willing to get the award should offer their business cases with both high quality and commitment to the nature of business. The Dubai Quality Award evaluates the provision of the Dubai Quality Award Model (Richard and Beatty, 2005).
In order to understand the core of the business perspectives the UAE Exchange Center should address itself through the benefits of the improvements and the fact of being afraid of losing the approaches of business and life as a whole. In other words, in order to become successful and get a reward, the UAE Exchange Center should learn to assess the information differently and based on the recommendations of other companies and clients in particular.
Besides, the core of the award model lies in the winning process of operations and business processes that define the commitment and result in the excellence in daily operations. The idea is to evaluate the expertise of the working process of each particular employee as well as the teamwork as a global process of business (Partnering for Success, 2012).
The Dubai Quality Award comprises the “Dubai Quality Appreciation Program for small and medium-sized organizations that have shown a commitment to excellence in their development”. Therefore, the number of approaches to win the battle of business excellence should be certified with the help of the Dubai Business Excellence Award committee in Grand Hyatt Hotel in Dubai (Griffin and Pustay, 2010).
The idea is to address the Dubai Quality Award in terms of the process that is important for the people to learn how to generate the approaches of win-win situations compares to the lose-lose outcomes. The purpose is to examine the position of the companies as the role models in the business spheres (Government of Dubai, 2013).
At the same time, the award program helps the companies to follow the progress of the organization towards its road to success through both the positive and negative business practices. The idea is to approach the business excellence by means of the proper organization and adoption of the best practices through the continuous systematic processes.
The rest of the working process is based on the particular framework towards the fact taking initiative in the organization of desired goals towards the actions that the UAE Exchange Center performs in order to achieve its potential. In other to manage such a process, the award model helps to find the method of working with information by means to manage the performance of the existing areas of business that need improvement (Porter and Tanner, 2012).
In all, the Dubai Quality Award is grounded on the Excellence Model of the best practices that are formed on the basis of the European Foundation for Quality Management (EFQM). Such an approach is addressed towards the successfully application of different sectors in the economy of the organization (Porter and Tanner, 2012).
Such a model offers an all-inclusive structure of the excellence in the organization. In other words, the success in all the aspects of business depends on all the spheres of the working processes, which run as a system that defines the efficiency of the business outcomes. The award model addresses each part of the business processes as a system of both particular business outcomes and the whole vision of the aspects that people could define as being successful.
The key idea of the award model is hidden in its perspective of managing the knowledge of how to improve the business processes more effectively than before. Thus, the approach of the UAE Exchange Center is desired to be aimed at the fact of achieving excellence through the applicants of the Dubai Quality Award. Therefore, the UAE Exchange Center should demonstrate the fact of constant improvements of the business processes that focus on the philosophy of winning (Government of Dubai, 2013).
In all, the road to success could be defined by means of the attributing to the excellence model award that utilizes the actions of people that bring more value that the UAE Exchange Center brings to its customers all over the world. In other words, the road to success is similar to the series of improvements and actions that the UAE Exchange Center performs on the market. The idea is to bring more value to the people globally and in the win-win scenarios of the business matters (Richard and Beatty, 2005).
Thus, from the perspective of awards that the UAE Exchange Center can gain on the market, the role model of the UAE Exchange Center is based on the sector of organization and performance of the working scheme. The idea is to maintain the daily operations through the measurement of the organization standing on the market. The results are going to fit the winning approach of the credibility of the awards that the UAE Exchange Center can win through the demonstration constant improvements by means of actions that lead the UAE Exchange Center to the outstanding results (Partnering for Success, 2012).
A structure of the UAE Exchange Center that is common for other businesses but less public in professional services works as a splitting in the middle of business development, finance and operations. A business such as UAE Exchange Center is structured around a splitting among the delivery of value to people while managing the ongoing business operations and efficiency. As business matures the owners enable a specific function for the development of intellectual property (Griffin and Pustay, 2010).
The very thorough focus is given to the business development throughout the resource areas of the business matters of the UAE Exchange Center. There could be more terms of concentrating on the fact of delivering the value to the customers on the market and industry as a whole. A structure that is common within other business processes could be analyzed as the means of delivering the professional services for the business development and operations of evoking the excellence in other people (Porter and Tanner, 2012).
Thus, the UAE Exchange Center’s performance becomes predictable while the clients recognize what to expect and are consequently more able to purchase more goods and services that help people to be happy. So, you can always make strategic decisions for understanding what the return will be. Such an approach will help the business grow in terms of its structure over the operation of the business processes that are performed on the highest level (Government of Dubai, 2013).