Insights - page 4
In November 2013, the Bureau International des Expositions (BIE) announced that Dubai would be the next city to host the Expo 2020, effectively making it the first city in the Middle East and North Africa to host a World Expo. The World Expo is an event that takes place every five years and is said to be the world’s third-largest noncommercial event in terms of economic and cultural impact. Set over a six month period, World Expos attract millions of visitors and generate considerable new business contracts and investments. However, debates are plentiful in relation to whether the benefits really outweigh the costs.
How do I grow my business? How do I make my operations more efficient? Most of us have pondered over these (and other similar) questions at some stage within the lifecycle of our businesses. In order to grow one’s business and achieve our next set of corporate objectives and goals, an important first step is to gain an unbiased understanding of the current status of the business and its operations.
In today’s highly competitive market, customer experience has become crucial in determining the success of a business. As how a company delivers its products becomes just as important as what product a company is offering, corporate entities that are able to impart truly positive customer experiences have a distinct advantage over their competitors.
Focus groups are a form of qualitative research, commonly utilized when testing consumer preferences and trends. These typically entail conducting guided or open group discussions with ten or less participants (an average of 5 to 6 participants in each group is typically recommended). Several focus group sessions are typically conducted in order to diminish any outliers or irregular group differences.
You have a product or service that you think is different from the rest, and you cannot wait to get it out to market. Although entrepreneurs are generally known for being more open to risk and relying largely on their instinct, it is important to step back for at least a moment and cast an objective or even critical eye on your business idea.
Dubai often makes headline news across the world for a multitude of reasons. Whether it’s in relation to being home to the world’s tallest building or selling the world’s most expensive coffee, it goes without saying that Dubai, along with much of the GCC, is synonymous with luxury and affluence.
In 2014, the UAE’s luxury goods market was estimated to be worth USD 8.98 billion, fueled by spending from residents as well as tourists. Despite the sector having seen considerable growth over the years, ongoing economic and political concerns across the region are making luxury a harder sell than before.