Free Global Competition And Management Decisions Essay Example

Type of paper: Essay

Topic: Company, Market, Industry, World, Culture, Workplace, Welfare, Strategy

Pages: 1

Words: 275

Published: 2021/01/01

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Globalization is an essential aspect for a firm to gain a wider market base and entrench a strong market advantage over existing or potential entrants in the industry. The technology consumer industry’s rapid growth has invited the governments and the market players’ attention leading to various internal and external market restructuring in reaction to the industry changes. With the increased revolution in technology, consumers have gained market consciousness of their tastes and preferences as well as their equality in social welfare.
In particular, the rising cost of living across the globe has prompted eligible workforce to seek increment in minimum wages to cater for their daily needs. As a result, the companies have had to grapple with the rise in variable cost. To cope with , the S-Watch manufacturing company should adopt the outsourcing strategy to reduce the recurrent expenditure budget on wages. The action will be applicable in coping with the demand for labor and supply.
In the recent past, employees have been imploring on their o through the government to join labor unions in a bid to increase their collective bargaining for social welfare. Collective bargaining is a strategic approach that facilitates accommodative deliberations among employees and firms for a common objective of improved social welfare (Fossum, 2008). The company should develop a policy framework that would guide formulation employee union, their responsibilities in line with the company’s ethical code of conduct. The approach will succeed in promoting employees social welfare and raise their motivation hence advancing innovation culture and global competitiveness.
The increased competitiveness in the technology industry is likely to influence the internal organization culture of a firm. With respect to the firm's global penetration, issue of cultural diversity could affect the company’s operation strategy. As a cautionary approach, the industry should revise its ethical principles to accommodate the cultural dimensions of employees and the different market segments across the globe.
In summary, internal organization culture is the basis for efficient and sustainable global strategic approach.

References

Fossum, J. A. (2008). Labor relations. McGraw-Hill Higher Education.

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WePapers. (2021, January, 01) Free Global Competition And Management Decisions Essay Example. Retrieved December 01, 2021, from https://www.wepapers.com/samples/free-global-competition-and-management-decisions-essay-example/
"Free Global Competition And Management Decisions Essay Example." WePapers, 01 Jan. 2021, https://www.wepapers.com/samples/free-global-competition-and-management-decisions-essay-example/. Accessed 01 December 2021.
WePapers. 2021. Free Global Competition And Management Decisions Essay Example., viewed December 01 2021, <https://www.wepapers.com/samples/free-global-competition-and-management-decisions-essay-example/>
WePapers. Free Global Competition And Management Decisions Essay Example. [Internet]. January 2021. [Accessed December 01, 2021]. Available from: https://www.wepapers.com/samples/free-global-competition-and-management-decisions-essay-example/
"Free Global Competition And Management Decisions Essay Example." WePapers, Jan 01, 2021. Accessed December 01, 2021. https://www.wepapers.com/samples/free-global-competition-and-management-decisions-essay-example/
WePapers. 2021. "Free Global Competition And Management Decisions Essay Example." Free Essay Examples - WePapers.com. Retrieved December 01, 2021. (https://www.wepapers.com/samples/free-global-competition-and-management-decisions-essay-example/).
"Free Global Competition And Management Decisions Essay Example," Free Essay Examples - WePapers.com, 01-Jan-2021. [Online]. Available: https://www.wepapers.com/samples/free-global-competition-and-management-decisions-essay-example/. [Accessed: 01-Dec-2021].
Free Global Competition And Management Decisions Essay Example. Free Essay Examples - WePapers.com. https://www.wepapers.com/samples/free-global-competition-and-management-decisions-essay-example/. Published Jan 01, 2021. Accessed December 01, 2021.
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