Essays on Risk and Management - The Reason to Start a Business in Dubai Coursework

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The paper "Risk and Management - The Reason to Start a Business in Dubai" is an engrossing example of coursework on management. The United Arab Emirates is the hub for business. A travel agency business can flourish in the area due to the mobility of the locals and tourists. A good business agency should engage in corporate travel management, outbound leisure travel, inbound tour, domestic tour, and airline and leisure representation. Dubai has specific steps through which a travel agency can be started. Like any other business, a travel agency has a number of risks associated with its workflow and processes.

All these risks need to be mitigated through either retention or insurance. All this should be based on the appropriate theoretical approaches. The United Arab Emirates is a central point of business. Dubai, its commercial capital, gives access to approximately 1.5 billion consumer markets in the Middle East countries, Eastern Europe, the Commonwealth of Independent States countries, West Asia, and Africa among others (My Top Business Ideas, 2016). Qatar and Dubai are some of the Arab countries that have been on the high rise due to a favorable economy and availability of job opportunities.

However, for sustainability issues, it is important to focus on job creation as opposed to job finding in Dubai. The best and easiest way of starting a business in the United Arab Emirates is through starting a business. Business needs passion, initiative, and ability to take reasonable risks to ensure success. 1.2 Why Start a Business in Dubai Dubai is the leading destination for investors and business people in the Middle East. The policies of the government and the infrastructures all support the proliferation of small businesses and large corporations.

The business opportunities in the area are not only for the United Arab Emirates citizens but also the foreign investors (Government of Dubai). The government of Dubai has put in efforts to woe foreigners since it is a boost in its economy. There is the existence of several free trade zones in the area thus making trade and commerce in the area to be at its best. People move from far areas to Dubai simply to get cheaper goods in the area.

As a result, Dubai always has a ready market for goods and services when appropriately tailored.

References

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Government of Dubai (n.d.). The economy. Retrieved from http://www.dubaiplan2021.ae/dubai- plan-2021/

Klimczak, K. M. (2007). Risk Management Theory: A comprehensive empirical assessment. Retrieved from https://mpra.ub.uni-muenchen.de/4241/1/MPRA_paper_4241.pdf

MacLaren, S. (2016). Mandatory health insurance in Dubai: All you need to know with time almost up. Retrieved from http://www.thenational.ae/blogs/your-money/mandatory- health-insurance-in-dubai-all-you-need-to-know-with-time-almost-up

Marciano, C. (2016). How much does cyber/data breach cost? Retrieved from https://databreachinsurancequote.com/cyber-insurance/cyber-insurance-data-breach- insurance-premiums/

My Top Business Idea (2016). 20 best small business ideas & opportunities in Dubai UAE. Retrieved from http://www.mytopbusinessideas.com/dubai/

Saksena, S. (n.d.). Cost vs coverage: Group Medical Insurance. Retrieved from http://www.capitalbusiness.me/main/details/business-planet/634

U.A.E Trade & Commercial Office (2014). Tourism and hospitality. Retrieved from http://www.uaetrade-usa.org/index.php?page=economic-sectors-in-uae&cmsid=60

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