The impact of international management on economic development in the Kingdom of Saudi Arabia

Waleed bin Abbas bin Muhammad Al-Sayyid presented his research on the impact of international management on economic development in the Kingdom of Saudi Arabia at the Gate Academy celebration. The following is an overview:
Introduction:
International business management is a modern branch derived from the field of business administration. Its aim is to organize institutional affairs and develop strategic plans to cope with market challenges, ensuring sustainability and competitiveness. International management specializes in studying the pathways and strategies that qualify organizations for efficient and effective international competition. Its role is to connect institutions with international markets, prepare for competition by conducting feasibility studies on competition size, weaknesses, and human resource development for integration.
International business management is responsible for supervising the handling of resources, capital utilization in transactions, and the volume of activities and investments exchanged with international markets. What distinguishes international business management is its systematic approach and clear plans, following a consistent pattern of competitive efficiency when entering global markets. Adherence to principles and rules of sound governance is crucial.
The international business department focuses on managing any institution or work system to enable international competition and significant entry into global markets. Given the continuous expansion of economic globalization, it became essential to develop international business management to deal with all international affairs. Globalization's influence prompted everyone to consider solutions for strong institutional participation in local markets through robust business management, preparing them for global competition.
Economic development is one of the most important issues addressed by developing countries as the primary and only option to overcome economic underdevelopment. In this context, countries have prioritized their main issues, implementing various strategies to achieve economic development and catch up with advanced growth countries.
In applying international management, several advantages accrue to the institution, such as utilizing economies of scale. The institution can increase its production with lower production costs, leading to increased production in the host country and, consequently, achieving economic development.
Study Significance:
This study derives its significance from clarifying the concept of economic development, which impacts various global sectors. It serves as a source for researchers and scholars seeking deeper insights into the reality of economic development and international management, acting as a starting point for further research in these areas.
Study Objectives:
The study aims to:
1. Understand the nature of economic development.
2. Comprehend the essence of international management.
3. Understand the status of economic development in the Kingdom of Saudi Arabia.
Research Problem:
The study revolves around answering the question, "What is the impact of international management on economic development in the Kingdom of Saudi Arabia?" This leads to several related questions, including definitions of economic development, economic development theories, dimensions of economic development, the difference between economic growth and economic development, major funding sources for economic development operations, definitions and significance of international management, and the key aspects of economic development in the Kingdom of Saudi Arabia.
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