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Strategic Management and Innovation in the Economic Growth

   

Added on  2021-06-16

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Running head: STRATEGIC MANAGEMENT AND INNOVATION IN ECONOMICGROWTHStrategic Management and Innovation in the economic growth of AbuDhabi: An Evaluation ofthe Real Estate Sector in AbudhabiName of the University:Name of the Student:Authors Note:

STRATEGIC MANAGEMENT AND INNOVATION IN ECONOMIC GROWTH1Table of Contents1. Title of the Project...........................................................................................................22. Overview..........................................................................................................................23. Research Questions..........................................................................................................34. Literature Review............................................................................................................34.1. Real Estate Development in Abu Dhabi...................................................................34.2. Economic Growth in Abu Dhabi..............................................................................44.3. Innovation and Strategic Management in Real Estate and Economic Growth inAbu Dhabi....................................................................................................................................54.4. Research Gap............................................................................................................65. Methodology...................................................................................................................75.1. Quantitative Method.................................................................................................75.2. Qualitative Method...................................................................................................96. Outcomes.........................................................................................................................97. Timescale.......................................................................................................................11References..........................................................................................................................12

STRATEGIC MANAGEMENT AND INNOVATION IN ECONOMIC GROWTH21. Title of the ProjectStrategic Management and Innovation in the economic growth of Abu Dhabi: AnEvaluation of the Real Estate Sector in Abu Dhabi2. OverviewInnovation and strategic management of real estate facilitates in generating employment,offering shelter to families, decreasing poverty along with encouraging income distributionwithin the economy of Abu Dhabi (Singla, Sethi and Ahuja 2018). Real estate property isdeemed to be a mixture of buildings, land and natural resources. Innovation and strategicmanagement of real estate in Abu Dhabi considers management, purchase, ownership rental landalong with sale of real estate for profit. In a situation where real estate provides better returns inconsideration to its moderate risk, the investors will prefer putting more investment within thissector that is resulting in its increased growth. New innovation theory explains the innovationwithin the real estate sector along with its progress in technology that is deemed as a part ofproduction function (Sutrisna and Setiawan 2016). The Abu Dhabi real estate property includesall the property segments that includes houses attained by single families to commercial andagricultural land, go-dawns, warehouses, office spaces, shopping complexes along with retailshops. Real estate sector of Abu Dhabi is observed to have a gap in addressing such fundamentalgoals because of various factors impacting the sector. This includes pursuit by most people InAbu Dhabi to own houses, increased migration to urban areas, better remittances from UAEpeople in a situation where property prices within the region is high (Venable, Pries-Heje and

STRATEGIC MANAGEMENT AND INNOVATION IN ECONOMIC GROWTH3Baskerville 2017). Government within heavy infrastructure that incudes construction of road hasresulted in increased development of properties in Abu Dhabi because of enhanced demandprice. There is drastic impact of real estate sector in the development of economic activities thatis continuing to attract increased attention over years. This has resulted in the importance ofinnovation and strategic management within the sector. It is therefore vital to evaluate theaspects which support investment growth to inform policies which can maintain the futuregrowth of the real estate industry (Whicher, Philbin and Aronson 2018). 3. Research QuestionsThe research questions those are considered in the current research to be answered areexplained below:How real estate sector of Abu Dhabi contributes to economic growth of the nation?What is the contribution of strategic management and innovation in Abu Dhabi’seconomic growth?What is the position of real estate sector in Abu Dhabi?4. Literature Review4.1. Real Estate Development in Abu DhabiAl-Ansaari, Bederr and Chen (2015) stated that the impact of property marketdevelopment on the Abu Dhabi economic growth has attained increased interest over the pastyears. This has been posssible because of the role played by housing in Abu Dhabi in offeringamong the basic requirements to the population that is shelter. Alfaki and Ahmed (2017)indicated that real estate is an important sector in the growth plan of the nation, specifically in

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