The competition between businesses will ensure better quality of their goods and service they provide. Competition is well known for providing great productivity which leaders to a growth in the economy. Not only can competition improve the quality of work, it can also improve innovation. Innovation is an important quality to have in a company because it aids in keeping products and services fresh. “Economic Influence on Marketing” claims, “To keep current, your business has to adapt to changes in the industry and must always keep its eye out for innovative, cutting-edge technology and product improvements” (Bradley).
Introduction A company’s success is measured by how well it is structured and organized in order to adapt to the changes in environment as well as the changes within itself such as the company’s scale, employees, product scope, etc. Having a suitable, well-structured organizational frame will not only increase the chance of being success but also prolong the company’s lifespan compared to an un-structured one. It is important to note that an organization’s structure needs to fit in with the current situation and does not necessarily required remain unchanged over time. Taking Dynacorp as an example, even though its functional structure contributed to the vast growth of the company at the start, its limitation in dealing with the changes within
Therefore, turnover can bring about new perspectives and greater ideas. Additionally, turnover can definitely birth new broadened perspectives by newer employees bring forth new key essential perspectives, experiences, and further can establish a new way of doing and completing things in which to help the organization prosper and grow. Equally important, turnover can truly help an organization stay competitive (Westfall, 2018). Therefore, turnover helps organizations adapt and become more dynamic in order to stay afloat with others in the industry. Further, by having some turnover helps to prevent the organization from enduring a standstill and stagnancy and
To increasing potential sales existing customer zealong has to improve their quality, product variety, packaging style, supply chain etc. by doing this zealong can increase their sales in existing market. Because, it’s a human nature that after sometime everyone want something new. 2. “Existing product for new
2. Motivating with instant feedback, encouraging peer connection and providing tangible rewards will help to boost employee engagement with ease and efficiency. Improvement in talent engagement and efficiencies Employee efficiency can be improved by putting employees in a more productive mindset. In order to do that the organisation can use the following strategies: 1. Designing economic incentives so employees at all levels of an organisation can benefit from
Thus, the firm’s technological lead is sustainable. The technological change shifts costs or uniqueness drivers in favour of a firm. Pioneering the technological change translates into first mover advantages besides those inherent in the technology itself. The technological change leads to improvement in overall industry structure. Sources of Competitive Advantage: There are many sources of competitive advantage that can result from the development and application of new technology.
I learned that team-working leads to great results and that splitting large groups into subgroups helps organize work and makes it more flexible. I also learned that the real success of any project is in the management of time, which is an art by itself. Moreover, the system week allows me to have a new skill that to find a mutually agreeable outcome. I learned from the team that a big team is just made up from small sub-team and the team leaders are playing a big role in communication between these subgroups. I learned that excellent teamwork in the subgroup and between the subgroup is the key to success in design activities when the time is limited.
The plan is easy to adopt in any organization as it emphasizes on initiating change within an individual before changing the entire work setting. There should be effective steps to implement the adjustments in the institution and means to handle the stress that could be as a result of those changes. The Great Game of Life is a good means to solve resistances to modifications in the working environment, but without improvement the program will lead to many more complications in the company. To overcome the forces that resist change, a firm should consider educating, communicating, involving the employees in decision-making processes, and promoting good relationship in the workplace. GGOL is a very great program, and if effectively used the program might help in transforming an organization from a poor working environment into a world class
It results in satisfaction, improvement in performance, motivation and positive perception towards performance bonuses. Fairness and clarity increase employee commitment and satisfaction since employees are given chance to discuss about their work performance. This, in turn, will lead them to perform greater in innovative activities.