The Effect of Global Competition on an Organization's Strategies for Maximizing Profits
Determine the effect of global competition on an organization's strategies for maximizing profits
Global competition has had a great impact in an organization strategy for maximizing profits in today’s world. In today’s organization global completion affects us both positively and negatively. The effect of global competition on an organization's strategies has increased the pressure of globalization. With the pressure of globalization organization will most likely outsource in order to minimize the price of production and labor in result to increase in their profits. Global competition help an organization by letting them look at their competitors and find better ways to function. For example if an organization is producing their items for much more than their competitor price they could see what the competitor is doing in order to get their production in a lower price. Globalization is linked to increasing profits, sales and earnings of an organization with the help of outsourcing. Since global competition pressure outsourcing because of cost in labor and cost of production certain areas could experience a large number of unemployment from jobs being sent elsewhere.
Analyze the effect of global competition on the relationship between management and labor.
Global competition has had a dramatic effect on the relationship between management and labor over the recent years. Managers cannot afford the cost and are changing their relationship with labor to achieve competitive advantages such as lower cost, increased operational flexibility, employee commitment, and an improved in customer service. While labor respond to the pressures by aggressively protecting past wages, benefit gains, and job
Global competition has had a great impact in an organization strategy for maximizing profits in today’s world. In today’s organization global completion affects us both positively and negatively. The effect of global competition on an organization's strategies has increased the pressure of globalization. With the pressure of globalization organization will most likely outsource in order to minimize the price of production and labor in result to increase in their profits. Global competition help an organization by letting them look at their competitors and find better ways to function. For example if an organization is producing their items for much more than their competitor price they could see what the competitor is doing in order to get their production in a lower price. Globalization is linked to increasing profits, sales and earnings of an organization with the help of outsourcing. Since global competition pressure outsourcing because of cost in labor and cost of production certain areas could experience a large number of unemployment from jobs being sent elsewhere.
Analyze the effect of global competition on the relationship between management and labor.
Global competition has had a dramatic effect on the relationship between management and labor over the recent years. Managers cannot afford the cost and are changing their relationship with labor to achieve competitive advantages such as lower cost, increased operational flexibility, employee commitment, and an improved in customer service. While labor respond to the pressures by aggressively protecting past wages, benefit gains, and job