Knowledge Update

Written by: Abdula Ali Elabed

Financial statement lending places most of its emphasis on evaluating the information from the firm's financial statements (balance sheet and income statement). Financial statement lending information is often hard data and it’s a type of transaction-based lending.

The terms of the loan contract and decision to lend are principally based on the strength of the balance sheet and income statements. Financial statement lending is best suited for relatively transparent firms with certified audited financial statements. Thus, it is likely the technology of choice in bank lending to large firms. However, some small firms with long histories, relatively transparent businesses and strong audited financial statements also qualify for the financial statement lending.

Lenders rely on financial statements to obtain critical information about the financial health and risks of businesses. The average lenders don’t have ongoing inside access to the day-to-day operations of a company. Instead, they rely on the financial statements to provide accurate, readily comparable information, and observe the profitability and value of a business. A lender can review the financial statements to assess liquidity, cash flow, leverage and overall solvency.

Asset-based lending:
Asset-based lending is a type of lending where the collateral is generally the account receivables and inventory. Asset-based lending information is often hard data and it’s a type of transaction-based lending. The credit decisions are principally based on the quality of the available collateral. This type of lending requires that the bank intensively to monitor the turnover of these assets. It is available to small firms of any size, but requires that the firm have high-quality inventory and receivables available to pledge as collateral.

When this type of lending is referred to as fixed-asset lending, the main data are estimated values of the real estate, motor vehicles, or equipment leased or pledged as a collateral. Fixed asset lending is quite cheap for the bank since it doesn’t involve any continuous monitoring activity and only requires an evaluation of the pledge assets when the loan is provided. Hence that it is very monitoring-intensive and relatively expensive for the bank.

The most important benefit that the company gets from using asset-based financing is improved liquidity. The facility can provide financial stability and predictable cash flow when it used correctly. This can help to stabilize operations for companies that are growing rapidly, have seasonal revenues, or have tight cash flows. Also, it is easier to get than loans and lines of credit, more flexible than other types of financing, and it can be obtained quickly (The application and underwriting process is much faster than qualifying for a conventional loan or line of credit).
In addition, it has fewer covenants than conventional lines of credit, can be used as a stepping-stone to other products, and have lower costs than comparable solutions, such as factoring. On the other hand, it’s have costs. In the asset-based lending, the lender gets to seize the assets in the event of failure of repayment, and the high rate of interest on the assets which lead to the limit of lending to be lower in this approach. Also, it requires a lot of monitoring and auditing, and it has many appraisal costs and the up-front legal costs of this system are high.

Written by: Mohammad Ali Elabed & Abdullah Ali Elabed

Lending technologies can be distinguished based on many different dimensions such as structure of the loan contracts, screening and underwriting policies or procedures, monitoring strategies and mechanisms, and the primary source of information. These technologies are deployed to address the types of problems that can lead to either over lending or credit rationing. The changes in the economic environment in which banks and small businesses operate have heightened concern about the availability of credit to the small businesses. Part of this concern reflects the fact that the small businesses are often informationally opaque and have far fewer alternatives to external finance than large companies. Also, many small businesses are highly dependent on banks for external finance.

There are two main types of lending technologies that are distinguished by the type of information that the banks use in monstering and granting the loan. These lending technologies are used to finance small- and medium-sized enterprises (SMEs).

The first type is the Transaction-based lending technologies which are primarily based on borrowers’ hard quantitative information, like the strength of the financial statement or the value of their assets, which are relatively easily available at the time of loan origination, easily to document them, and transfer. It may come in a different forms, including financial statement lending, small business credit scoring, factoring, asset-based lending, equipment lending, real estate-based lending, and leasing. It is better suited for relatively transparent small businesses and it focuses on one transaction with a customer, or many repetitive and standardized transactions with various customers.  Lending decisions are made after borrowers go through a formally structured application process where they are required to meet certain requirements like providing specific financial information in order to qualify for a loan. The transaction-based lending or arms-length lending can be more cost-effective and also allows larger and non-local banks to lend to SMEs.

The second type is the relationship lending which is extended primarily based on borrowers’ soft qualitative information, such as the entrepreneurs’ characteristics that include skill and integrity, which are not easy to verify. As the soft information is accumulated through close bank-borrower relationships, broad and long banking relationships should accompany the relationship lending so they need to be located close to their borrowers which enables the loan officers to personally contact their borrowers at a lower cost.

The relationship lending was better suited for more opaque small businesses. Traditional literature emphasizes that the use of the relationship lending methodology when dealing with SMEs because these firms are considered informational opaque and lack collateral.

Relationship lending is one of the most important technologies that employed by banks in extending credit to informationally opaque small businesses. The process of relationship lending is not well understood. However, a clear understanding of how the relationship lending technology work, and how the organizational structure of the bank affects their ability to deliver this service that are needed to assess how recent changes in the economic environment are likely to affect the availability of the credit to the small businesses.

Key Words: Lending technologies, SMEs, Small Businesses, Relationship lending, Transaction based lending

Shopping is an indispensable part of the ilgrimage. Religious tourists buy myriad range of merchandise at religious destinations for their survival, religious or social needs. A lot of shopping is by the virtue of traditions.

Retailers across the world have capitalized on the opportunities of marketing their merchandise to pilgrims using all the possible techniques since time immemorial. It is difficult to trace the definitive history of retailing at religious destinations, and we get some ideas through the old pieces of literature and religious treatises. We can say that even thousands of years ago, people used to shop for items for their survival at these religious places, and they also used to buy memorabilia, and many other products of religious significance for their relatives and friends. It was the part of their social obligations to bring and distribute the items of religious significance to the members of their family and society. The merchandise included various edibles, photographs, replicas, statues and so on.
The merchandise these religious tourists purchased to carry them back to their homes differed a lot according to their faiths, culture, distances and various demographic variables. Pilgrims shop religious items to adorn their homes and offices or to gift these items to their relatives & friends in future. Religious items can serve as visual reminders of spiritual beliefs as well as inspire people and give them comfort in times of trouble. With changing times, modes of transportations changed, new religious destinations emerged, social practices changed and so a lot of changes happened in the merchandise in demand, and the ways these merchandise were retailed.

In the modern era, when first time in the human history we have the facilities virtual pilgrimage and live telecast from religious centers, the enthusiasm among the worshippers and other types of tourists has not dampened at all, rather the number of people visiting the religious destinations and the frequency of visits are continuously increasing worldwide. The modern transportation infrastructure and related facilities facilitate the rapid movement of larger volume of merchandise of any size and features. To boot, the new means of promotion help in attracting the shoppers to the stores in larger number.
The retailing at pilgrim centers may not be sophisticated and high end as airport retailing, but the number of stores and volume of trade is much higher. The pilgrim retail is still largely unorganized, and we do not have many international retail chains catering the shoppers at these religious places. There are large number of small shops, and the retailing practices are still traditional.We rarely find salespeople in uniform talking in sophisticated language, and the use of plastic money is still limited. Although, some modernization is visible in a few high end hotels at these religious places, but these hotels cater to a very small proportion of religious tourists.

All these facts hint toward the huge opportunity of modernizing the retailing at pilgrim centers, which can result in better economies of scale, better merchandises, improved services and enhanced customer satisfaction. The modernization will be beneficial for all the stakeholders including retailers’ religious tourists and others. It may even help in increasing the number of tourists to these religious places, because it will bring the tourists hooked to modern retail practices in larger number and for longer durations.
Now, students have lot of options for a better career in marketing. They can pursue MBA in UAE. MBA Marketing opens up doors to a large number of career opportunities across the world. They can also opt for diploma in tourism from various universities like skyline to have promising career in tourism.

By: Umer Mehmood Dadu

In everyday life, a person does many things like managing home, family, work, shopping, saving pocket money, purchasing vegetables, managing social life, and many more. If one observes keenly, unknowingly, in all these activities, a person actually manages many things in the daily life. Activities like money management, saving, expenditure, things to purchase, giving priority to immediate activities, and postponing the unimportant things are all part of life. At the time of shopping or purchasing items, importance is given to the quality of product as well as its features. In summary, all these activities can simply be called as ‘Management.’ There is a perfect correlation between the management thoughts and theories proposed by famous management gurus in our lives.

F.Y.Taylor defines management as “the art of knowing what you want to do and then seeing that it is done in the best and cheapest way.” This definition is highly apt for our personal lives too.

To increase the efficiency in organizations, the management is used in a broader prospective. The main objective of all organizations is to earn profit and be responsible to the stakeholders. Similarly, in one’s personal life, we manage money, price, quantity, quality, budget to get a quality product for a low price. Organizations also manage money, plan for their budgets and expenditure, procure raw material economically, manage people, and manage the organizational processes to achieve targeted productivity. In all these management activities, various functions of management like Planning, Organizing, Directing, Controlling, Staffing, Leading and Motivating are involved. These activities belong to several departments like Marketing, Finance, HR, Business Strategy, Operations Management, IT and Systems among others. Management is a dynamic process and whether organizations or human beings, it is essential to adapt the management strategies to the ever changing external environment. Organizations and people do constantly interact with the external environment and change their management styles as per the requirement.

For example, due to the introduction of the VAT (Value Added Tax) in UAE, organizations have to immediately make lot of modifications to their cost structure, profit margins and competitive strategies to sustain the business. Similarly, the citizens of UAE also need to modify their daily lives and habits by looking at their spending patterns and tune them to VAT. In organizations, every activity or process are inter-related and mutually dependent on one another. For example, production depends on market demand, market demand depends on economy and spending habits of individuals, and customer behavior. Requirement of manpower depends on production capacity and in turn production capacity and manpower planning depends on the availability of budget. Thus, management process is a highly dynamic one.

Management can be compared with the clutch, accelerator, break and steering of a car which control the entire movement of the car. Similarly, in a personal life, individuals apply all these parts of a car to their lifestyle by using one or the other part, whenever and wherever it is required to manage according to the ever changing dynamics of external environment. Thus, all the human beings perform several management activities in their everyday life unknowingly.

Human beings can manage their personal lives by learning management skills, like organizations train their employees to learn the management skills. This requires a formal management education in some reputed Business School. Undergraduate and Post-graduate programmes like BBA and MBA programmes in various disciplines of management i.e., Marketing, Finance, HR, Operations, Business Strategy, International Business, Information Systems will develop these management skills with specific emphasis on these disciplines.

Satoshi Nakamoto is believed to have founded the first crypto currency Bitcoin, in the year 2004. No one knows the whereabouts of Mr. Satoshi so far. The reasons are clear. Now we find more than 1,000 crypto currencies in the world financial market although unregulated.  When this article is being published, the Bitcoin was traded in the CEX 10 (Bitcoin exchange) for $ 6,000.

The most important feature of these crypto currencies is that the transactions are completed without intermediaries. No banking or non-banking financial institution is involved. All transactions are settled faster without any hindrances whatsoever. The parties to the transactions need not reveal their names and need not pay any transfer fees or transaction cost. These are the two reasons which have given rise to the discovery, evolution and growth of the crypt currencies.

The success of any business depends on the model or the mantras. The mantra followed Need and speed and the Blue Ocean technology: the need of the investors or businesses is to settle the transactions smarter and faster and this is found in crypto currencies including Bitcoin. There was no transfer of funds by without involving banks but crypto currencies there are no intermediaries for the transfer of funds. The names of the parties are not revealed. Crypto currencies have entered an unregulated market using cloud computing which has no competitors.

The ledger accounts of the investors and customers in these crypto currencies transactions are maintained by miners (accountants) by using high speed processing computers. These miners have a huge reward for solving a puzzle in every transaction of the Bit coin.

The Bitcoins are stored in Digital wallet, which can be found in cloud or on the users’ computers. This wallet is nothing but the bank account of the individuals who transact in the crypto currencies.  The users of this Digital wallet can buy even a Pizza or anything using their public keys and private keys which are allotted to the users.

Small businesses generally prefer this system as no credit cards are required for the processing of the transactions.

The growth of Bitcoin from $ 1 to the $ 6,000 + or – is attributed to the Silk Road (on line black market) which needed a currency that could clear transactions without using banks. Even the closing of the borders of countries for legitimate business for various, has paved the way for business in these countries.

Calculation of the price of Bitcoin is done by CEX 10 (bit coin exchange) on the basis of the trade of the transactions. It has 100 million dollars market capitalization. Some of the international banks are trying to be a party of this block chain technology, which has a definite amount like the capital of the banks.

To invest one need not pay $ 6,000 dollars to buy one Bitcoin?  You can buy even a fraction of that provided the country you live in, allows such transactions.

Future of Bitcoin: In spite of the unprecedented growth of the Bitcoin, it can’t be stated that, one should invest or transact though the Bitcoin as many governments have not supported it although some of them did support. The governments of various countries including the UAE, have not appreciated this technology as it might encourage illegal transfer of money for illegal activities

Investing in Bitcoin is like betting a T-20 Cricket International match. Anyone can win right? The theory of risk and rewards applies to this technology as much as it applies in the regulated markets.

To grow is a basic human instinct. Civilizations across the globe and across the time have celebrated growth and people responsible for growth have always been admired and respected and others have been advised to get inspired by these examples. Nations from every corner of the world have made policies, provided incentives and have taken steps to facilitate growth and development in economic terms. In the past environmental issues were not crucial as number of people on the planet and the amount of natural resources used by them were comparatively. The accelerated development of technology, growing human population, and exponentially growing usage of resources and consequent wastage have brought the environmental concern on the forfront.The inventions of non-biodegradable materials,deforestation,pollution of various kinds created by machines and automobiles have made the sustenance of this growth pattern questionable. The use of a new pesticide can have harmful impact on food products and soil, and the long run damage caused by it can be much more than short term benefits. Various new drugs and medicines can cause severe damage to human organs in the long run. The growing industrialization and usage of automobiles may pollute the environment ultimately resulting into a series of diseases and untimely deaths of human beings. Various industrial accidents like Bhopal Gas tragedy are hard to forget for any civilized human being. The fear of rising temperature and meltdown of glaciers, damages to ozone layer, depleting drinking water, vanishing animal and plant species can put the entire civilization’s existence at risk. Hence, there is a need of tackling these issues with conviction. The real concerns for environmental hazards started getting voiced at national and international forums in the second half of the twentieth century. Various protocols and summits like Kyoto, Montreal and the latest Copenhagen summit etc. are evidences of growing concern across the globe regarding environmental issues. People from every country have started thinking and working for sustainable development. A real development is the development which can be sustained for a long term. We can’t afford to ignore the issues related to environment, if we want to hand over a beautiful earth and prosperous future potential to future generations. We must look at the both sides of effects related to usage of new inventions and adoption of new processes. Our experiences with legislations and summits have taught us the hard way that a lot more needs to be done. The issue of sustainable development or growth with environmental protection may be ensured with following for steps: 1) Creating awareness through media and education-No universal problem can be solved without creating awareness about it to all. For this, environmental study should be made the compulsory part of education at all levels in all streams. It should be given the same importance what we give to the education of languages, technology, mathematics and general awareness. Secondly, the power of all types of media including print, electronic, internet, campaigns should be harnessed to the maximum to make people know about the environmental impact of their consumption or activities, and their probable consequences. 2) Making uncompromisable legislations- Although we have various legislations related to protection of wildlife, forest etc. and there are government institutions and ministries to look after environment, but it’s obviously not sufficient. There is a need to enact legislations which make intentional damages caused to environment as serious as causing damages to human lives or sovereign nations. We must realize that if environment does not sustain then nothing will. People with power and contacts should not be allowed to remain unpunished if they have committed crimes against environment. 3) Emphasizing research on environmental protection-In order to ensure growth without environmental hazards, researches related to it must be given due priority. We spend billions of rupees on researches related to industries, defense, health etc., but environmental researches still do not attract best talents or substantial resources. There is a need to promote environmental researches with the cooperation of both governments and private sector at every possible level.Universities, institutes and research agencies must work in this direction in every related discipline area. There is also a need to facilitate environmental researches at local levels to find alternative ways of production and consumption which are environment friendly. 4) Balancing the distribution of Income-One of the major causes of environmental hazards is the fact of people in large number struggling for survival every day in the different parts of the world. An individual, who is not sure of his next meal, can’t be sensitive to possible problems in future years or hardships to next generation. For him survival at any cost is the fact of life. No campaign or legislation can stop a starving individual to cause environmental damage. This is evident in damages caused to forest in areas full of poor people and a large number pf poverty stricken employees working for dangerous and environment damaging occupations. Hence, enough honest efforts must be made to create a reasonable balance in the distribution of income. The poverty of masses also makes the economic growth unsustainable in many ways including sustainability in environmental terms. In order to ensure the growth with safe environment these points should be considered by policymakers and general public at large. Human beings survive on hope of better future, and without protecting environment we lose the hope of bright future. It’s the case of saving our hope and our environment. Skyline University College is among the top educational institutes in Sharjah and it continues working for sustainability and environmental protection through the community service activities and training to students. SUC is among the best options for BBA in Sharjah. It has also started BBA in public administration to prepare a students for administrative responsibilities.

Student Name: Moath Assad Srour  

ID: 11088

Currency crises played a huge role in the economic disturbance of the interwar. Currency crisis is a type of financial crisis that occurs when there is decline in the value of a country's currency. This kind of decline in the currency impacts the economy severely and brings it to the downward trend and creates instability in the exchange rates. Due to this, the value of currency in the international market decreases drastically. One of the methods of minimizing the impact of currency crisis is by pooling adequate foreign reserves.

The world witnesses many instances of currency crisis till now. One of the recent crisis was during 1990s. The European Monetary System started experiencing a huge offloading of assets by the investors. The reason attributed to this was the disturbances in the exchange rate mechanism. Soon after this crisis followed the crisis in Asia and Mexico. It was thought that the crisis would spread to other parts of the world and would negatively impact their monetary systems. Researchers and Analysts generally do not provide any single acceptable reason as to why currency crisis would occur in some countries. Traditional models attribute currency crises to a deterioration of economic fundamentals. On the contrary, the recent models hypothesize that such crises may be as a result of the self-fulfilling prophecies or the shock effect that spreads over many countries. The different perspectives of the various models on what causes a currency crisis makes the study an interesting one and needs further investigation.

It is very important to understand currency crisis and develop mechanism to minimize its impact. One of the most important mechanism to minimize its impact is to analyze the degree of risk tolerance of investors. Past experience shows that before the financial crisis, most of the shareholders enjoyed several years of relatively good returns with little volatility. They became comfortable with the market's risk and reward proposition as long as it heavily favored rewards. As markets began to drop, many shareholders who thought they were comfortable with their risk tolerance, overestimated the risk and they left the market. Risk tolerance is unique to each shareholder. Some shareholders are more comfortable with market volatility than others.

The second strategy is to maintain a cash reserve. This strategy focuses on the need to balance both flexibility and discipline in responding to sudden events like currency crisis. This can be achieved by maintaining reasonable levels of cash reserves within an investor's overall investment and funding plans. The third strategy is to develop and inculcate good financial habits by the investor. It is important for the shareholders to realize several behavioral and environmental factors which can either assist or prevent the achievement of their targets. The shareholders should use the past lessons to build excellent financial habits which help in minimizing the stormy financial periods like currency crisis. The other strategies which can be used are Weigh Fundamentals versus Feelings and using the debt strategically.

 

Student’s Name: Shaikha Majid Alshamsi           

Student’s ID No.: 12437

Every leader performs two roles in the organization, one is macro leadership role and the second one is micro leadership role. This article focuses on understanding the functions of a leader at macro and micro level and attempts to compare these two types of leaderships. Building a right environment and culture in the organization is an essential ingredient of macro leadership and analyzing and implementing the strategies on a day-to-day basis by monitoring every activity by doing an in-depth management is micro level leadership.

 Macro is generally considered to be the ‘Big Picture’ of the leader and micro is considered to be the ‘task’ accomplishment of the leader.

 At the macro level, the leader is more focused on bringing a transformational change in the organization by carefully monitoring the external and internal environment of it. The leader develops a long-term strategy by visualizing and anticipating the changes in the external environment and makes the structural changes required in the internal environment of the organization to synchronize the external changes.

 Macro Leadership:

 This leadership level or role is a strategic one. The leader thinks from a very broader perspective by scanning the business environment and suitably adapting the organization to the dynamics this external environment, keeping the vision, mission and objectives of the organization in mind.
The leader makes plans to expand the business by looking at various opportunities of investments. Keeps trying to innovate by launching new products, entering into new markets, making modifications to the existing products and services, and modifying the organizational strategies to deal with all the external stakeholders of the organization. Depending on the need, the leader also modifies the vision, mission and objectives of the organization from time to time. All the actions of the leader at this strategic level of leadership are oriented towards achieving sustainability of the organization. Therefore, at the macro leadership level, the leader plays a ‘transformational’ leader role.

Micro Leadership:

At this level of leadership, the leader tries to build the capacities of the organization in terms of manpower, finances, and other resources like machinery, equipment, and facilities. The leader also develops relationships with employee teams, lays out plans to complete the tasks, provides all the necessary support and motivation. The leader brings clarity to all the departments and functions by assigning them their roles and responsibilities in accomplishing the given tasks. All these actions match with the information gathered from the external environment at the macro leadership level.

The leader displays the necessary attitude by encouraging the employees to put their efforts to reach the goals for completing the tasks. The leader provides the required support to achieve the objectives of the organization.

Finally, for any leader to be a successful leader it is essential to display the leadership qualities at both the levels i.e., Macro and Micro.

Almost every marketing strategies revolve around 4Ps or 7Ps.It’s also been supposed that all Ps are usually controllable factors, were in PESTL (Political, Economical, Social, Technological, and Legal) are uncontrollable factors. It’s time to review on the academic scholarship, particularly in context to create awareness to the Marketers by providing insight to the analytical approach in distributor’s change over the decision.

It’s true that CMO on his immediate discretion can discontinues a product from

Any date he wishes merely with one circular to all stakeholders and shareholders of the company. Perhaps he also in tandem can do the same with the Price, Promotion, people, process and physical evidence too. But the decision to change place (i.e. Distribution) at once, perhaps is the daunting task.

Depending upon the industry, Intermediaries have a variety of titles/Names. Among popular names are C&F, Distributors, C&A, wholesalers, retailers, Propaganda, agents, etc. The titles also depend upon the ownership & job description and responsibility to be carried out by them. As their function demands they are responsible for indenting the good, receiving the good, inventory the goods, invoicing the goods, assorting them, sorting, repackaging, shipping the goods, ensuring the transportation, insurance, the goods to forward movement to the retailers for the ultimate destination for the consumer. In this process, they also promote the product and provide required services facility if needed for the product. At this point they display and facilitate the choices to be made by the purchaser which is typically important for new products. Feedback is also a very important function which they extend (Customer's feel, repurchase, compliments, and dissonance) that makes companies make required changes in other Ps to stay competitive & relevant for the customers.

As known that the flow of goods also carries revenue (the carrier of Profit). The delay the decision of discontinuation/substitution of distributors is great concern for CMO on the profitability of organizations. Since decision exacerbate while holding on present sales, substituting the demand and lead to issues which get put on hold leads to scrap the value of goods due to breakages, expiry, leakages, & spoilage unattended. Regular customers to the distributors take time to set to another route to purchase or show their resistance or get influenced to substitute the demand with competing products. Power of distributors they will take the issues to litigate where another hold on the decision can harm the sales and impact the progress of organizations.

 

What is advised?  A distilled MOU is to be concocted, incorporating all possibilities of happenings which can impact business progress and process and secured the organization with clear acceptable norms where both the parties are at mutual welfare without hammering the work?

To reaffirm “Thinks before you act” Since an effective distribution channel are a source of strategic advantage for companies.

 

Article written by Ibrahim Abdelrahman Alkhayyal, MBA Student

Etisalat, headquartered in Abu Dhabi, is one of the largest corporations in the GCC. It provides all kinds of internet, mobile and Television packages. It has many firsts to its credit in GCC and in the world. It has the largest number of customers in UAE and provides widest coverage of 3G and 4G technologies. It also is the first corporation to 4G+LTE network. Moving ahead, it recently started focusing on 5G superfast networks. It tested the 5G through a trial and has been successful. The company claims it to be world’s fastest live trial of 5G. This technology is the next step in the high-speed mobile broadband services. The objective of 5G is provide customers with highly efficient, faster, cover more customers and cover more devices.  At the same, it maintains the lowest levels of carbon footprint and causes absolutely no harm to the environmental aspects. Introduction of 5G will impact TV, Media, Manufacturing, Healthcare, Telecommunications, Transportation, Infrastructure and education sectors (Schools, Colleges and Universities) which will in turn impact all the other dependent sectors.

Etisalat recently completed deployment of 5G and conducted a live trial of its pre-commercial 5G mobile technology using millimeter wave operating over e-band through 2GHz of bandwidth and a massive MIMO (Multiple Input, Multiple Output) technology. The live trial reached the highest speed of 71 Gbps, a global record in the industry.

The 5G technology enables the concept of ‘global computing’. Through this the user can access the services from multi platforms from any location and at any time. It provides a great facility to customers to use application simultaneously in many platforms at a time with high speed. The 5G technology also aids in developing smart cities and enables digitization of all user services. It is expected that this technology is also going to develop the ‘Internet of Things’ at revolutionary speed. The utility services provided by the government and all the other private services are going to have a total transformation due to this technology. Etisalat is going to be the first corporation to initiate and implement the 5G network in UAE by 2020. The proposed investment on the required infrastructure and other supporting activities is expected to be around AED 3 Billion. This investment will be distributed across activities like upgradation of mobile network, installation of robotics technology and artificial intelligence.

Therefore, to conclude, in the next couple of years, UAE is going to witness a dramatic impact of 5G technology on all kinds of services offered to the citizens which can be customized as per their requirement. In future, it will be very interesting to watch not only customers interacting with each but also all the ‘things’ interacting with each other. 5G of Etisalat will become a way of life in UAE. In addition to all this, 5G will enable reduction of pollution and expenditure on usage of paper-based transaction and services by providing energy efficiency and ease and comfort. The 5G technology also benefits higher level, quality conscious technology and management educational institutions like Skyline University. The university can become completely a digital university and offer wide variety of programs in the areas of Information Technology and Management at BBA and MBA levels and also BS(IT) level. This technology also helps in offering diploma courses in various fields like tourism and travel.