This is achievable when a company shares a dynamic perspective. The key factors here are enhancement of dynamic capabilities to accommodate market trends, and extrapolations, where IBM could foresee major changes in the future. To succeed in dynamism, IBM must take the route of democratized innovations instead of the traditional innovation model. Though, it may take a while to curb the commoditization but it definitely will lead to a greater degree of differentiation. Once, the company starts analyzing the trends in customer future needs, the dynamic capabilities will automatically set in place, paving a smooth transition path for new products and innovations to be developed with a first mover
Barcelos (2016) identifies four ways of attracting better candidates. First, the brand has to be promoted as authentic and positive. In our case, Red Lobster is a well-known brand, but since they have implemented a new business strategy to focus on value and improve its image, it is imperative that the new vision, mission, and goals are clearly conveyed. Second, the job needs to be advertised on traditional medias such as job boards and company website, but also on social media such as LinkedIn, in order to touch a broader audience. Third, the job application has to be user friendly.
Companies need to focus on diversity and look for ways to become totally inclusive organizations because diversity has the potential of yielding greater productivity and competitive advantages. Managing and valuing diversity is a key component of effective people management, which can improve workplace productivity. Unmanaged diversity in the workplace might become an obstacle for achieving organizational goals. Therefore diversity can be perceived as a “double-edged sword”. (Barbara Mazur, 2010) Performance management (PM) is a very important process of human resource management(HRM), in general.
The analysis suggest a strong need to improve its strategy in relation to its primary activities, which will improve if they link each other activities. To improve performance warehouse should be trained to work more efficiently and so, improve some packaging issues they have had in previous years. Probably considering more and better use of technology will improve the service and communications externally, with customers and suppliers, and internally, within different departments, facilitating enough information to avoid
The execution of this theory for administration is that goal setting may be utilised as a powerful technique for encouraging workers, as long as the goals are obviously characterised and they are fair and there is a sound quality control framework in place. It is additionally critical to comprehend the way people and associations pick goals and the elements that decide responsibility towards the goals (Rollnick & Miller,
Marketing plan Introduction Developing a marketing plan is important for new businesses, it is an essential tool. Developing a plan will help a business think about what makes their business different from others, and how to get the message out to the desired audience through a variety of channels. Having a marketing plan is key to staying competitive. Having a strategy ahead of time will help a business run more smoothly and a company’s efforts are more likely to pay off. A marketing plan is a map that helps guide a business towards their goals, having one will save time and minimize stress.
Still finding new opportunities for improvement and creation of value is a must nowadays. The companies should understand how emerging technologies can affect their competitive advantage and strategy, how they can help them retain their customers and bring new ones and thus implement changes that will help them to play competitive. Successful innovation means that companies should match the market trends and customer expectations with internal processes and invest into
Employee relations, perfromance management and training are areas that can be uplifted. One of the major challenges for the global manager is to bring about employee creativity and their ability to manage change. The rise and advancement of technology is another challenging area for managers. They need to be upto date and flexible in their approach. They should be aware of the suitable technology that would improvise and benefit their business.
It is essential to the organization especially during this complex environment. Tariq et al. (2011) mentioned that high adaptability can help the organization gain competitiveness advantages. This is because the adaptive leader can recognise the change of the environment and prepare to perform better which can lead to sustain the competitive advantages among the competitors. The adaptability also important when the organization is facing a diversity of the workforce (Yukl & Mashud, 2010).
So, adapting to change is vital to my personal growth. Now, to help others, it is simply to get them understand that life, whether in a business or personal, is bound to encounter change and the ability to adapt to change would determine the improvement of their business. Adapting to change is a leadership strategy that I have applied in various ways. For instance, the nature of my work requires a lot of flexibility. Changes could occur before I realize it so it is imperative to often anticipate changes and learn to cope with it.
As previously stated, marketing management involves choosing one or more target audiences as well as getting and keeping customers through creating, delivering and communicating superior customer value. To do this successfully, businesses must understand that they are not the only choice. They must also understand the marker and find creative ways of providing new value to their customers. Once the new value has been implemented, then it must be communicated to the consumers. Businesses are most successful when they are aware that “marketing management has to be responsive and adaptive to ever-changing business environment (Salkovska, Batraga & Ogstra,