Companies will be more profitable because their products are more reliable, then they will have less defected products. In return, less time and money are spent fixing those mistakes. When the value a customer receives from a product is greater than that of another then they are more inclined to stick with that
AT&T has adapted to this successfully by innovating their services and adding more value to customers. This early mover advantage would give sustainable benefits to the company and this is important to have in a turbulent industry. Weaknesses Being large has its fair share of weaknesses as well. AT&T has to reward its employees with more attractive remuneration packages compared to other services in order to retain them. This policy has resulted in increasing operational costs which would apparently have a detrimental impact on profit and EPS.
“One of the advantages of groups over individuals is that they collectively possess more information than any individual member does” (Bazerman 70). This is one of the main reasons working within teams can be such an advantage within the corporate world. Working in a group allows the decision-making process to access more information, more opinions and have a better opportunity to consider all research since each member thinks in their own way. This wealth of knowledge can be extremely beneficial in avoiding some of the issues we discussed regarding individual’s bounded awareness. However, aside, from being aware of our own limitations we must also be aware of the limitations of the members of a group.
These advantages are Respect in the field, career development, job security, job satisfaction and any other benefits. It is difficult to pass the CPA examination which means that people will be more likely to show respect in the field. Becoming a CPA will also help your career. Many employers look for elite level accountants to hire and move up within a company and CPA’s are always top candidates. The certification will also help your job security which in turn will help your job satisfaction.
With the help of subcontracting, the businesses gain the opportunity to handle larger projects easily. Reliable profits are earned by the businesses on the projects that are handled by subcontractors. Furthermore, by making use of subcontractors, the organisations can save their cost and efficiency as the overhead cost would reduce. This means that sub-contracting is the flexible working type that would be advantageous for both employer and employees as most of the complex and tough task would get outsourced. Due to this facility, the employees would feel relax and stress free within the organisation which would certainly increase their loyalty with the
It means that the business as a whole is better able to relate to a larger people. So it is vital companies retain the best talents at all levels. This will create a better working correlation, and help avoid misinterpretations based on cultural differences and ignorance about other groups. It saves time and money and having
Personal assistants are given high regards for their priceless contribution to the success of a business or an individual. However, getting a personal assistant can be costly. Paying for an assistant may eat up a lot of a company 's budget which could be invested in other important things. To solve this issue, more businesses are turning to virtual personal assistants, a cheaper, more efficient, and more convenient way to have all the luxuries of a personal assistant with none of the hassles. From individuals with busy schedules like celebrities and politicians, to big time business owners, everyone seems to be in need of someone to take responsibility of the little things that may consume the valuable time of these busy individuals.
Besides, it enhances the image of the company to become ‘Employers of Choice’. Although high level diversity can be seen in large companies, small companies are also enjoying diversity now days. As the population ages the relationship between age and job performance is likely to be the main issue. Employers also have mixed feeling regarding aging employees. Firstly, aging employees can bring some positive
Supplier Diversity – Businesses have taken steps to diversify even in the supply chain to ensure that the benefits accruing to diversity from within the organisation are homogenous through the supply chain to the customer. This also helps to promote the image of the company in the case, where the organisation hires workers from the population on site by harnessing the relationship the customers tend to keep with such employees (Marchington, Wilkinson, 2012). Counterarguments Challenges of Diversity - Whereas the benefits of diversity are many, there are a few obstacles in diversifying. People tend to attach some sentimental value to developments originating from native ideas. This fact added to other enforcements by the government and in some cases company policy leads to discrimination against the diversity in people the world bears.
People may prefer the ability to be told what to do next. The autocratic leadership style may be very effective when times are stressful or when there is an emergency. This type of leadership limits debates and arguments. It allows employees to have one task, and that is to work, which could mean that employees master their tasks and become proficient enough to lift up the company. Other advantages of Autocratic leadership style include the following (Maseti and Gumede, 2011:1481): • Authoritative Leaders possess total control, • There is improved work output, efficiency and effectiveness due to intensive inspection, • Authoritative style helps improve competitiveness in logistics and operations, • There is fast decision making due to one centre of