The organizational configuration of companies or corporations in today’s environments is quite complex. The large companies have the shareholders who periodically elect a board of directors who collectively manage the company's affairs and reach decisions by a majority vote but also have the right to delegate any of their powers, or even the whole management of the company's business, to one or more people selected by them. Under this system it is common to appoint a chief executive and the subordinate executives who mange the corporate affairs and also assist the board of directors who authorize them to enter into all transactions needed for carrying on the company's business, subject only to the general supervision of the board and to its approval of particularly important measures, such as issuing shares or bonds or borrowing. The corporate structures are further sub organized according to the requirement of the business. Most of the corporate organizations are required to have under law, the board of directors elected periodically by the shareholders to appoint certain executive officers, such as the president, vice president, treasurer, and secretary.

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These generally have no management powers and accomplish the administrative functions that are the concern of its secretary, but the president and in his absence the vice president have by law or by delegation from the board of directors the same full powers of day to day management. The most complex management structures are of those organizations that are provided for public companies under law. The management of private companies under these systems is restricted to one or more managers who have the equivalent powers as of a chief executive. In the case of certain public companies, however, a two tier structure is essential in which the lower tier consists of a supervisory committee whose members are elected periodically by the shareholders and the employees of the company in the proportion of two thirds shareholder representatives and one third employee representatives. The upper tier consists of a management board comprising one or more persons appointed by the supervisory committee. The corporate affairs of the company including the strategic management are looked after by the management board, subject to the supervision of the supervisory committee, to which it must report periodically and which can at any time require information or explanations. The supervisory committee is forbidden to undertake the management of the company itself, but the company's constitution may require its approval for particular transactions, such as borrowing or the establishment of branches overseas, and by law it is the supervisory committee that fixes the remuneration of the managers and has power to dismiss them.

Unless the company's constitution otherwise provides, the shareholders periodically elect a board of directors which is vested with the widest powers to act on behalf of the company but which is also required to elect a president from its members who undertakes on his own responsibility the general management of the company, so that in fact the board of directors' functions are reduced to supervising him. The corporate planning and execution is dependent on highly professional team members who analyze the general environments and produce a plan, which is viable and is implemented in such a way that corporate aims are achieved. Importance of the corporate strategic management the strategic management is the managerial course of action for making a strategic visualization, setting objectives, developing a set of policies, putting it into practice and accomplishing the same. In addition to this, the initiating of all such actions with the aim to have corrective adjustments in the visualization, goals, approaches, and implementation are also to be made whenever deemed appropriate. The strategic management is thus the tool to make sure the success of the vision, which is a guideline of a company's future. The strategic management assists in providing essentials about technology and customer focus attitude in the business. A successful management helps attain the geographic and product markets that is otherwise quite difficult to be pursued.

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The capabilities a business concern plans to develop also become attainable through the strategic management. + 1 8 827 0150 + 1 302 351 4405 + 44 20 3006 2750 introduction the development of the real estate business in the united arab emirates as well in the middle east region is nowadays very perspective, due to the high concentration of capitals and ample opportunities for the development of business in the region. One of the major reasons of the profound interest to the region from the part of investors is the progressing economy and the growing efforts of the local governments to develop the open market economy. At any rate, the development of the business in the region is nowadays substantially easier than it was a couple of decades ago, for instance. Speaking about the real estate industry, it should be pointed out that this industry is particularly interesting to investors because the uae and the middle east region is also the region that attracts a large number of tourists that makes the development of the local infrastructure and real estate industry quite profitable. In such a situation, many company attempt to enter the local market of the real estate industry, but entering may be accompanied by serious difficulties because of the strong influence of the state.

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At the same time, companies supported or even owned by the state have very good perspectives and can expand their business successfully. In this respect, sama dubai may be viewed as one of such companies since it is a state owned company which operates not only in the uae, but in recent years have started the implementation of the strategy of the international market expansion entering new markets and gaining a larger share in the markets of different countries, basically of the arab world. In such a situation, it is very important to analyze the strategic development of the company and its management, assess its strength and possible weaknesses in the context of the current market situation as well as to evaluate its perspectives and possible threats in the future. the background information on sama dubai speaking about the strategic development and management of sama dubai, it is primarily necessary to dwell upon the background of the company. First of all, it should be said that sama dubai is a member company and subsidiary of dubai holding, a holding company set up by the government of dubai. At the same time, unlike other subsidiaries of the holding sama dubai focuses not only on the national projects, but, instead, is an international arm of dubai holding and it is mainly focused on international projects. To put it more precisely, the company’s priority is the development of the international projects in which dubai holding is involved.

At the same time, at the present moment the company is basically known in the middle east and some countries of the third world where its performance was particularly successful and contributed to the formation of the positive image of the company in the world. Among the most successful projects, in which the company was involved or is still working on, it is possible to name the building of the famous dubai towers. This was a serious of super tall, mixed use skyscrapers that are developed in three countries and they will contain residential, business, office and entertainment sections. The dubai towers are or will be build in doha, qatar, istanbul, turkey, and dubai, the uae. The latter project has been already accomplished and successfully functions in the uae and it may be viewed as a proof of the reliability and successful work of the company.

Also the company has launched the construction of salam resort and spas, a chain of resort and spa hospitality that is projected to be built in oman and bahrain. Among the other developments of sama dubai, it is possible to name the lagoons, a luxurious real estate development in dubai’s dubai creek district with retail, residential and business sections anway, another real estate development in rabat morocco century city and mediterranean gate, a luxury real estate development on the lac du sud of the tunisian capital tunis. The latter project is particularly impressing because it covers 830 hectares and will comprise the construction of the ultra modern new city with many skyscrapers, hotels, cultural and leisure complexes, residential complexes, a marina and many shopping halls. The construction has already been launched and the company plans to finish the construction within 15 years. Obviously, such projects indicate to the fact that the company is really ambitious and have the strategic goal to become at least the regional leader in the construction of the luxury real estate.

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In this regard the recent achievements and the current projects, in which the company is involved, are very important for the international market promotion of the company and the recognition of the company in the foreign markets. Such a strategy is supposed to facilitate the entering of new markets and overcoming the existing entry barriers in foreign countries. Furthermore, the company basically operates in the middle east and north africa that means that at the present moment the company may be characterized as regional because its successes in other parts of the world are insignificant, while the traditional markets remain one of the major priorities of sama dubai.

Nevertheless, it is a solid basis for the further development of sama dubai as an international real estate company. the current market situation naturally, the development of the company cannot be independent from the market situation. To put it more precisely, while developing a marketing strategy of the further development of sama dubai, the company should take into consideration the current situation in the market and the perspectives of its future development. It is obvious that without the analysis of the market situation the company is practically doomed to failure because it will be unable to forecast the future needs and demands of customers and it will unable to react adequately on the needs of the market if the company develops the strategy based on its own plans and perspective without any regard to the current market trends. On analyzing the current situation in the real estate markets in the region where sama dubai is currently operating, it is necessary to point out that the situation is quite positive for the development of projects created by the company. In fact, the real estate market is traditionally considered to be as one of the most reliable for investments worldwide, with the few exceptions concerning countries where the domestic situation is extremely unstable volti 2005.

In such a situation, the investments into the development of the real estate business are quite reasonable because, even though it will not bring huge profits in the short run, but in a long term perspective, such investments may be very profitable and even more reliable than investments that could bring some short term benefits. At the same time, it is necessary to point out that sama dubai basically focuses on the operations in the luxury segment of the real estate market. Traditionally, this market is considered to be a very difficult to enter because of several reasons. Firstly, as a rule, this segment of the market is already saturated because there are companies that have a huge experience and are well recognized as leaders of the luxury real estate industry.

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Secondly, the investments in the development of luxury real estate are substantially higher than investments in the development of real estate of the medium level. Finally, the development and construction of the luxury real estate demands a considerable period of time and, therefore, the investments need a considerable period of time to get returned to the investor, while the profitability of this industry is not always certain, because the luxury real estate are destined to the representatives of the upper class. Naturally, in the situation, when there is a crisis in a country or a region, the risk that the profits from the luxury real estate can decrease is very high. Nevertheless, in the current situation, it is hardly possible to distinguish any signs of the possible crisis that count outbreak in the nearest future, though the situation in some countries is very unstable. In this respect, it is primarily necessary to point out the situation in iraq, where the situation may be characterized as very unstable, because the country is actually in the state of war. Taking into consideration the fact that iraq is situated close to the major countries where sama dubai operates or plans to introduce its development, such as qatar, bahrain, the uae, then it would be logical to presuppose that the instability in iraq may be viewed as a potential threat to the development of sama dubai and its projects in the region. In such a situation, it seems to be quite logical that the company attempts to enlarge its presence in foreign markets and enters the market of north african countries, such as morocco and tunis.

The situation in these countries is more stable and, therefore, the company can develop its real estate business here without serious apprehensions concerning the future of the local market. However, even the situation in the market of the gulf countries, such as qatar or bahrain, is not really dramatic because the probability of the downfall of the local real estate market, especially its luxury segment is very low. This is why it is possible to characterize that the general situation in the regional market is quite favorable for the development of real estate business by sama dubai. In recent years the gulf countries, where sama dubai traditionally operates are rapidly progressing and national economies are flourishing, basically due to the constantly growing oil prices, since oil is the major product of import of these countries. The growth of the oil industry stimulates the development of local economies that naturally contributes to the enlargement of perspectives of the luxury real estate business in the region.

The demand on such sort of real estate in the gulf region as well as in other countries, where sama dubai operates, steadily grows. To put it more precisely, the development of business stimulates the growing demand on business facilities. Taking into consideration the enormous profits from oil industry and the high standards of life and work of the local elite, it is quite logical to presuppose that the demand on the services and real estate of the highest quality will also be very high. The demand will grow proportionally to the economic development of the gulf countries. Briefly speaking, the more there are rich people, the higher is the demand on the luxury real estate and, therefore, on the services of sama dubai. At the same time, the region is also very attracting for foreign investors who would readily cooperate with the local economic elite.