Recommendations –

The following recommendations would be suggested for the implementation of the new business –

 Market research needs to be conducted on a frequent basis. While it is essential for the initial start up of the business, such research needs to continue in order to note any changes in the preferences of the customers, which then the company would be required to address essentially, to retain its existing customers, and also attract new ones.

 The marketing of the new business is one of the most essential factors for the establishment of the business and spreading about it among the customers. Unless the marketing strategies are effectively implemented, chances are that the new market would not be well aware of the company or its services. Also, people need to know the uniqueness of the new business in order to get attracted to it. Hence it is recommended that particular focus is given on the marketing management and team selection, which would be responsible for the marketing decisions and activities for the business.

 It is already established that the concept of the new business is new for the Dubai market. However, since there are existing events management companies in the region, and the competition is high, it can be expected that the same concept will be tried to be indulged by other competitors as well. Hence continuous innovations and uniqueness is essential for the new business to keep it distinct from other competitors in the market. Depending on the needs of the customers, new designs and ideas will have to be developed on a regular basis. Moreover, it is recommended to offer customers with discounts and offers as well to keep them attracted with the company.

 Finally the selection of the board of directors, the management teams, and the staff need to be done with extreme care since human resources are the most essential part of an organization that will be responsible for all decision making and accomplishment of tasks. Hence due time and care should be allotted while creating the teams and also while allotting them with individual tasks and responsibilities. Employees should also be well trained to communicate effectively with customers to create a positive relationship between the company and the customers, highly essential for keeping them attracted to the company and its services.

 It is also recommended to encourage the human resources management team to indulge into training and development sessions for the staff, to keep them updated with the current market scenarios, changes needed for the business, and other factors which might otherwise affect their business. Employee motivation is recommended to keep them encouraged and motivated towards their work, which will result in their high performance and effort for the business and hence success.

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