Market Competitiveness
Market Competitiveness Melanie N. Green BUS681:
Compensation and Benefits (MBB1122A)
Instructor: Dr. William Dickie June 13, 2011
Market Competitiveness Market competitiveness is the competitive edge an organization has over another. This competitive edge can range from employee salaries, growth, stock, and employee benefits. Competitive markets are good for companies to stay in business and to keep up with its competitors. Companies have to rationally establish a competitive edge by what the company can offer to exceed its competitors’ offers. This rationale usually comes from the company’s financial resources and if a company lacks financial resources the company has to develop alternatives. Each employee needs will be different and will look for many different things when looking for a job or career. There are hierarchies of employee needs that helps determine if the company will be a good fit for the employee. Some people need a good salary and not benefits and others need good benefits and a reasonable salary.
Market Competitiveness Market competitiveness is when an organization has competition within the same category or market. In a competitive market, markets or organizations have to compete willingly and openly in order to be taken seriously in market competitiveness. Also by an organization being in a competitive market gives one an advantage over another. Organizations have to first research its competition to see what they are doing and to develop a better plan than their competitors. In a competitive market, the organizations have to understand how and why their competitors are able to do some things. For example, A. Offer competitive salaries, B. Offer competitive training, C. Offer a good work facility, D. Offer growth within the company, and E. Offer a good work environment.
Every employee has different needs and different aspects they for with in a company. An organization in a
Compensation and Benefits (MBB1122A)
Instructor: Dr. William Dickie June 13, 2011
Market Competitiveness Market competitiveness is the competitive edge an organization has over another. This competitive edge can range from employee salaries, growth, stock, and employee benefits. Competitive markets are good for companies to stay in business and to keep up with its competitors. Companies have to rationally establish a competitive edge by what the company can offer to exceed its competitors’ offers. This rationale usually comes from the company’s financial resources and if a company lacks financial resources the company has to develop alternatives. Each employee needs will be different and will look for many different things when looking for a job or career. There are hierarchies of employee needs that helps determine if the company will be a good fit for the employee. Some people need a good salary and not benefits and others need good benefits and a reasonable salary.
Market Competitiveness Market competitiveness is when an organization has competition within the same category or market. In a competitive market, markets or organizations have to compete willingly and openly in order to be taken seriously in market competitiveness. Also by an organization being in a competitive market gives one an advantage over another. Organizations have to first research its competition to see what they are doing and to develop a better plan than their competitors. In a competitive market, the organizations have to understand how and why their competitors are able to do some things. For example, A. Offer competitive salaries, B. Offer competitive training, C. Offer a good work facility, D. Offer growth within the company, and E. Offer a good work environment.
Every employee has different needs and different aspects they for with in a company. An organization in a
References: Holzer, J., & Jones, A. (2011, May 26). Global Finance: Bounty plan approved. Wall Street Journal (Eastern Edition), p. C.3. Retrieved June 13, 2011, from ABI/INFORM Global. (Document ID: 2357814801). Martocchio, J.J. (2011) Strategic compensation: A human resource management approach (6th Edition). Upper Saddle River, NJ: Prentice Hall. ISBN: 9780136106401. Muthoo, A., & Mutuswami, S. (2011). Imperfect competition and efficiency in lemons markets. The Economic Journal, 121(552), 580. Retrieved June 13, 2011, from ABI/INFORM Global. (Document ID: 2359367521).