CHANGE FACTORS EXERCISE Individually: HOW ARE THESE FACTORS INCREASING COMPETITI
ID: 387511 • Letter: C
Question
CHANGE FACTORS EXERCISE
Individually:
HOW ARE THESE FACTORS INCREASING COMPETITION AND CHANGE FOR MANAGERS
1) TECHNOLOGICAL INNOVATION - PROVIDE ONE EXAMPLE HOW?
2) GLOBALIZATION (Extension of organization’s sales or
manufacturing to new foreign markets)? PROVIDE ONE EXAMPLE
3) DEREGULATION (Reducing restrictions on how businesses operate)- (Think about the telephone or communication industry, airlines.) PROVIDE ONE EXAMPLE?
4) CHANGING POLITICAL SYSTEMS (Change to democracies leading to new markets)? PROVIDE ONE EXAMPLE
5) CATEGORY KILLERS (Huge stores that drive costs down through economies of scale and wide selections) PROVIDE AN EXAMPLE
6) NEW GLOBAL WORKFORCE (Hiring skilled workers from around the world for domestic and international operations)
PROVIDE AN EXAMPLE
7) A SHIFT TO SERVICE AND KNOWLEDGE WORK? PROVIDE AN
EXAMPLE
Explanation / Answer
1. Technological Innovation: As the companies are looking for core competency and technical advancement. Customer always seeking for latest technology or new technology. So organization want to remain in competition and always looking for new product with innovative ideas. In the same manner, companies hire the employees who updated with latest technology. In the era technology everybody need to be updated with technology so that they can be hired by companies.
e.g. Now some of the companies are providing water resistant mobile which is new coating technology which avoid the water. Now the companies who's having this technology would be more preferable choice for customer.
2.Globalization: When the company enters in international market so it facing new competitor in global market. They need to fight with many other product which available in market. Managers have to deals with international customer or client and need to satisfy them with product or service. It is very challenging job to satisfy different customer.
e.g. Before some times mobile manufacturing companies was limited to some countries like china and taiwan. Now they have well set up in other countries. Now they occupy the market share of other countries which are giving the competition to current available companies.
3.Deregulation: Companies have provided roaming, Unlimited internet, STD & Local calls at affordable price. Before some times it was restriction to customer at some level otherwise They need to pay for extra charges. Manager have to provide the proposal and cost benefit strategic decision in case of any change in policy.
e.g. When some of the companies like vodafone, Jio, & uninor enters in indian market and start provide some affordable and cheap price data pack and roaming pack. These companies completely finished the restriction.
4. Changing Political System: Now every country want foreign investment in his country. So that jobs can be create in market. To attract the companies. Now Local government focus on to make new policy to attract foreign investment. Among all the countries it is very competitive to attract foreign investment.
e.g. Indian government made new tax benefit policy for companies who setup new plant in India. Democracy is attracting investing to manufacture locally and create jobs.
5. Category Killer: Large store with maximum variety of product available have competition with local shops.
e.g. Walmart has competition with local shops.
6. New global workforce: In this compettive market organization want to hire more skill manpower. Sometimes they need to hire from other country. Market having shortage of skilled taskforce so companies facing problem and got competition in market.
e.g. Microsoft hire the employee througout the world.
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