Enterpreneurial ventures
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Questions and Answers

What role do large firms play in promoting global economic stability?

  • They encourage competition among local businesses only.
  • They limit the integration of developing markets into the global economy.
  • They diversify operations and spread economic risks. (correct)
  • They primarily focus on maximizing profits in their home country.

How do medium and large firms contribute to job creation at the national level?

  • They reduce reliance on international markets for labor.
  • They generate jobs indirectly through their supply chains. (correct)
  • They rely exclusively on government programs for employment.
  • They create employment solely through their direct operations.

Which factor is NOT a contribution of large firms to national economies?

  • Enhancing local artisanal trades. (correct)
  • Reducing unemployment rates.
  • Boosting a nation’s GDP significantly.
  • Generating significant tax revenues.

What effect do industrial clusters have at the regional level due to large firms?

<p>They attract ancillary services and skilled labor. (A)</p> Signup and view all the answers

What is a primary benefit of large firms’ investments in infrastructure development?

<p>They promote economic development in the wider region. (C)</p> Signup and view all the answers

What is a key way large firms drive innovation?

<p>By investing heavily in R&amp;D to enhance productivity. (A)</p> Signup and view all the answers

How do medium and large firms affect regional competitiveness?

<p>By establishing regional hubs that attract various services. (B)</p> Signup and view all the answers

Which statement accurately reflects the international contributions of large firms?

<p>They help integrate developing markets into the global economy. (C)</p> Signup and view all the answers

What role does the UAE's immigration policy play in its economic growth?

<p>It promotes job creation through skilled entrepreneurs (B)</p> Signup and view all the answers

What is a key characteristic of a dynamic economy?

<p>Innovation and technological advancements (A)</p> Signup and view all the answers

How can startup support programs influence job creation?

<p>By providing mentorship and funding to new businesses (D)</p> Signup and view all the answers

Which of the following is a result of a dynamic economy?

<p>Job creation and skill development (B)</p> Signup and view all the answers

What is the overall impact of targeting entrepreneurial immigrants on the economy?

<p>It stimulates innovation and diversifies the economy (D)</p> Signup and view all the answers

What role do large firms play in enhancing the regional labor market?

<p>They provide specialized training and development opportunities. (C)</p> Signup and view all the answers

How do large firms contribute to local community development?

<p>Through Corporate Social Responsibility initiatives. (B)</p> Signup and view all the answers

What is a significant benefit of the UAE Golden Visa?

<p>It provides long-term residency to skilled professionals and investors. (A)</p> Signup and view all the answers

How do highly skilled immigrants impact innovation?

<p>They enhance innovation by bringing diverse experiences and knowledge. (D)</p> Signup and view all the answers

What is one way immigrant entrepreneurs stimulate competition?

<p>By creating businesses that introduce new products and services. (C)</p> Signup and view all the answers

What is an indirect job creation mechanism resulting from immigrant entrepreneurship?

<p>Expansion of supply chains due to increased demand for local services. (B)</p> Signup and view all the answers

What role do immigrant entrepreneurs play in workforce development?

<p>They enhance workforce skills through training opportunities. (C)</p> Signup and view all the answers

How do local spending and job creation relate to large firms?

<p>They bring employment that supports household incomes and drives local spending. (D)</p> Signup and view all the answers

What can be a consequence of the competitive environment fostered by immigrant entrepreneurs?

<p>Increased choice and better quality for consumers. (D)</p> Signup and view all the answers

What is a characteristic of UAE's initiatives to attract skilled talent?

<p>They offer various funding avenues and accelerator programs. (D)</p> Signup and view all the answers

What is one way that diversity brought by immigrant entrepreneurs benefits the economy?

<p>It fosters cross-cultural innovation and stronger business networks. (D)</p> Signup and view all the answers

What impact does access to financing and grants have on attracting entrepreneurial talent?

<p>It is crucial for encouraging entrepreneurial activities. (B)</p> Signup and view all the answers

Flashcards

Multinational Firms

Large companies operating in multiple countries, facilitating global trade and investment.

Global Trade and Investment

Cross-border exchange of goods, services and capital, driven by large firms.

National Employment Opportunities

Large firms create jobs directly & indirectly in their home countries.

Tax Revenues for Nation

Medium and large firms' tax contributions support public services.

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Regional Industrial Clusters

Large firms' presence attract suppliers and skill workers, developing industries.

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National GDP Contribution

Firms contribute to country's economic output via production & exports.

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Economic Stability (Global)

Large firms spread risk and foster interdependence among national economies.

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Regional Infrastructure

Large firms invest in infrastructure like transport that helps the region.

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Knowledge Spillover

When immigrants' skills benefit local workers and businesses by sharing their expertise.

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UAE's Golden Visa

A program attracting skilled entrepreneurs to the UAE for job creation and economic growth.

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Startup Incubators

Places supporting new businesses by providing resources and mentorship.

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Free Zones

Areas with special rules to attract and support businesses, often with tax breaks or regulations.

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Careem

A successful company (founded by foreigners), now globally employed, showcasing the success of immigration in business and employment.

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Dynamic Economy

An economy that adapts and innovates quickly to new technologies and challenges, improving productivity.

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Innovation

Developing new products, services, or technologies to boost productivity and growth.

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Adaptability

The ability to adjust to changes in the market to remain strong even in times of crisis.

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Job Creation

The process of making new job opportunities.

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Skill Development

Learning new skills to continue being relevant in a changing world.

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Entrepreneurship

Starting and running a business, especially related to new ideas.

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Hub71

A hub in Abu Dhabi that helps new tech companies grow by providing funds, offices, and support.

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Abu Dhabi Global Market (ADGM)

A financial hub in Abu Dhabi, UAE that has specific programs to support businesses.

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UAE Free Zones

Areas within the UAE with special rules that help companies grow and succeed.

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Economic Growth

An increase in the value of goods and services an economy produces.

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Regional Skills Development

Large firms provide specialized training, attracting and building skilled talent in a region, improving the regional workforce and economic resilience.

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Community Development (CSR)

Large firms engage in local projects to support education, health, and sustainability, building community ties.

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Small Business Support

Large firms partner with SMEs, locally procuring goods and services, fostering entrepreneurship and local economy.

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Job Creation and Spending

Large firms generate employment, boosting household income and spending in local businesses (retail, services, hospitality) creating a robust economy.

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Entrepreneur Visas

Visa programs (e.g., UAE Golden Visa) attracting skilled entrepreneurs by offering long-term residency, promoting investments.

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Startup Support Programs

Programs (e.g. UAE free zones) offering tax breaks, simplified processes, and easier business setup, attracting entrepreneurial immigrants.

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Access to Financing

Government support for venture capital, grants, and funding for entrepreneurial talent, crucial for attracting entrepreneurs.

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Knowledge Transfer

Skilled immigrants bring diverse experiences and knowledge, enhancing innovation in various sectors (technology, healthcare) and introducing advanced technologies.

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R&D and Business Models

Entrepreneurial immigrants drive innovation in Research and Development (R&D) and experiment with novel business models.

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Competition (Businesses)

Immigrant businesses create competition, introducing new products, services, or processes, benefiting consumers and encouraging local businesses to improve.

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Economic Dynamism

Diversity from immigrant entrepreneurs leads to a dynamic economy, fostering cross-cultural innovation and strong business networks.

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SME Job Creation

Immigrant entrepreneurs start small and medium-sized enterprises (SMEs) creating many jobs in diverse sectors.

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Sector Development

Immigrant entrepreneurs entering high-growth sectors (e.g., technology, finance, healthcare) create jobs, promoting sectoral growth.

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Supply Chain Expansion

Startups stimulate demand for local suppliers and service providers, creating jobs for businesses in supply chains.

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Local Spending Impact

Immigrant entrepreneurs and their employees increase local spending, benefiting retail, hospitality, and services, creating a ripple effect through the local economy.

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Workforce Upskilling

Many immigrant entrepreneurs train their employees, boosting skills and the overall skill level of the domestic labor market.

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