Tata Motors is lacking in terms of management capability since it has undergone constant losses since the recession in 2008. It has released a lesser number of new and innovative products than its competitors. Its global footprint is much smaller than Toyota or Honda or Maruti. The distribution strategies that it adopts may be good, but it also spends least on Marketing amongst the OEMs. From all these factors, it can be stated that Tata Motors has not been successful in creating any competitive advantage for itself amongst the OEMs.
• Access to key skills & know-hows With an ongoing skills shortage due to competitive job market; it is tough for many organizations to find the top & talented candidates with in-house team. When outsourcing recruitment process to third-party agencies or companies, companies get benefit from recruiting excellent candidates. These flexible solutions are chiefly crucial for a long term project or initiative. • Saves your precious time Time saving is another noteworthy advantage when the employer approaches leading hiring companies. If a vacancy is not filled for the longer time, it may lead to a bad influence on the company’s image and performance.
Strategic thinking is a key requirement for the success of any entity. An organization could be strategically competitive only by evolving good corporate strategies. When a company creates corporate strategy which others are unable to make replica of or it’s too costly for them to implement, only then that company could be able to sustain the competitive edge against others. Defining a corporate strategy is not only difficult for large firms such as IBM and Microsoft but it is also challenging for smaller firms and outlets. As Porter (1996) defines, “Strategy is about being different.
They also have existing Marketing strategies to their advantage. So, as a conclusion it is fair to say that the barriers to entry are rather high and difficult unless the company have a good marketing team, name recognition and financial advantages, otherwise it is harder for the new unknown chains to enter the industry. • The bargaining power of suppliers: In general power of suppliers is very limited. Since the suppliers come from the developing countries they are not always have adequate funds and not in the position of raising the
Hence, the concentration ratio in the industry is low. • Barriers to exit are other critical factors in this industry. Since, it makes more difficult for a company to exit the market due to high cost to lay off staff and assets, contractual obligations like rent and loans. • Entries of International firms into the Indian market, which are capable to produce well equipped high quality products with low cost, have competitive advantage. • Manufacturers can differentiate their products through patents, licensing agreements, and limited access to selective natural resources that has a great clinical benefit then other competitors.
Abstract: In the rapidly changing management scenario, HRM has an important role to play HR is a highly productive corporate asset and the overall performance of companies and corporations depends upon the extent to which it is effectively developed and utilized. Human resource is certainly important even in this age of extensive use of computer technology. There exists a lack of professional approach towards Human Resource (HR), and the managers are unaware of the developments taking place in management in general and HR Management (HRM) in particular. The HRM practices in small and medium firms were found to be very different, and previous literature also shows that the results vary with countries. This paper attempts to study the HRM practices
Hence, it is really worthy to spend much time whilst creating a recruitment strategy. Limitation of the Study Nowadays it is very hard to select skilled employees because of the critical situation of recruiting market. The shortage of qualified people makes competition very hard where achieving good recruitment and retain good employees very important for the business success. However, it is very costly and taking too much time. It is not enough to offer good salaries to bring good people, there is a fact that candidates are seeking for more than salaries, they are targeting benefits and growth potential.
Still, many SMEs are having problems to access finance in order to expand their businesses or even to survive. Banks and financial institutions play an important role in terms of providing credits to support the economic growth. Bank financing is critical to the functioning of the economy since it is an important source of funding to support SMEs development. Nevertheless, Fredriksson and Moro (2014) theorised that banks and financial institutions are reluctant to provide credit lending to SME sector due to the riskiness of early stage ventures in terms of insufficient assets, having no proven track record and low capitalization. As a result, they do not see this sector as a profitable business.
The cost to set up this system is extremely high and although it has helped in making decisions easier than ever before, organizations have to bear an extremely high cost while hiring specialized personnel to set up the system. It also ignores the social, political and cultural effects of the situations and the managers need to keep that in mind while making important decisions so that the organization can gain maximum advantage from the respective decisions. The powers to make important decisions have now been transferred from humans to software which has concerned many people as the social, cultural and political aspects are not kept in to focus by the machines. But, the advantages of Decision Support System are so massive that they hover over its disadvantages. It has helped business professionals in such a gigantic manner that its importance cannot be ignored.