Category: Management

Weapons that managers have (six and three with explanations),”six: customer service, employee skills, innovation, quality, social media and big data.- Quality as a strategic weapon: quality can be used to build competitive advantage and attract loyal customers. Managers need to search for the best practices among (non)competitors that lead to their superior performance

Management

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How to adapt changing workforce?,”Work-life balance programs. – Many people recognize that work is squeezing out their personal lives. Therefore, many organizations offer family-friendly benefits (=benefits that provide a wide range of scheduling options and allow employees more flexibility at work, accommodating their needs for work-life balance.)o Contingent jobs. Contingent workforce (= part-time

Management

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Corporate strategy and three types,”specifies what business to be in and what to do with those businesses. There are three types:1. Growth Strategy. Organization expands the number of markets served or products offered, either through its current business(es) or through new business(es). Ways to grow:• Concentration. Growing by focusing on primary line of business and increasing the number of products offered or markets served in this primary business.• Vertical integration. Growing by gaining control of inputs or outputs or both.- Backward vertical integration. Organization gains control of inputs by becoming its own supplier.- Forward vertical integration. Organization gains control ofoutputs by becoming its own distributor.• Horizontal integration. Growing by combining with competitors.• Diversification. Growing by moving into a different industryRelated diversification. Different but related industries. ‘Strategic fit’.Unrelated diversification. Different and unrelated industries. ‘no strategic fit’.2. Stability Strategy. Organization continues-often during periods of uncertainty todo what it is currently doing’ to maintain things as they are.3. Renewal Strategy. Organization is in trouble and needs to address declining performance.• Retrenchment strategy. Minor performance problems.• Turnaround strategy. More serious performance problems requiring more drastic action In both renewal strategies

Management

Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.Corporate strategy and three types,”specifies[…]

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