UAE Exchange: The RACE to Positive Organizational Change
UAE Exchange began operations in 1980 and, through the years, established itself as a global remittance, foreign exchange and payroll solutions brand. Investing extensively in its people by adopting innovative practices, UAE Exchange won appreciation from its customers and employees alike. In 2008, the global financial crisis adversely impacted the Middle East and forced many expatriates to return to their home countries. With fewer people remitting money, UAE Exchange lost considerable market share. Leaders at UAE Exchange sensed an urgent need for change and made several strategic moves to navigate this challenge. The new direction proved successful, and management was then faced with the challenge of sustaining the momentum. The case asks students to identify the various positive practices that an organization could implement for change. It covers the importance of developing employee strengths, generating positive relationships and emotions, enhancing employee engagement, and supporting customer focus. After reading this case, students will gain a conceptual framework of organizational excellence in a competitive industry. Students will be able to identify the practices of positive organizational behavior, employee engagement, and positive change that can be applied at any corporation. In addition, students will build opinions on the key factors in developing and maintaining positive relationships in an organization with employees and customers from different nationalities.