As noted earlier, the labor market is very competitive because every employer wants the best staff at his or her disposal. In addition, competition in the market requires every organization to be a way ahead of the competition to ensure sustainability. Consequently, hiring is a preserve for the HRM. Notably, hiring does not entail advertising for job vacancies and waiting for the right candidates to apply and invite them for an interview.
In a market of competitiion, it is very critical to for Superior to have an
3. Salary structure and working condition. The wages should be in conformity with the job specification and what other people are offering out there. Enterprise with low wages will face difficulty in making recruitment and will face problems of labour turnover.
Thus, employers must know how the compensation they offer for critical positions differs with compensation for similar positions at other organizations in the market. Therefore, if an organization is recognized to be a great place to work in terms of factors such as training, resources, technology, work environment, staffing, and scheduling, the organization may be able to pay less than its competitors do within an acceptable range. However, if competitors are viewed more favorably as an employer, on the other hand, the organization will need to use compensation as its strength. Although, any strategy based solely on compensation will not succeed in the long run because a successful strategy combines market-rate compensation and a work environment that is competitively distinguishing and unique (Gering & Conner,
Explain why you chose these competitive strategies and estimate how they might affect sustainability of long-term organizational performance.
The purpose of the paper is to research and understand how the changes of globalization and technology have impacted the Airline industry. This paper will also apply the industrial organization model and the resource-based model to determine how the Airline industry earn above-average returns. This paper will explain how the Airline industry’s success is through its mission and vision statements with Southwest Airlines as an example. Finally, this paper will evaluate how the importance each category of the stakeholder impacts are to the overall success of the Airline industry.
With more and more fierce market competition, much attention has been paid to the research on corporate competitiveness.
Competitiveness in relation to (please address all items in the below list and provide support for your
1. What is competitive advantage, and how does it relate to a company’s business model?
Labor market or the competiveness for not only recruiting, hiring, but retaining our company employees within a highly competitive market environment.
compensation externally competitive within its industry. Employee attraction and retention can be improved by maintaining
The paper that I 'm writing will help you to gain information on how Strategic Management and Strategic Competitiveness play hand and hand when dealing with a business. The business that I have chosen to write about is Nike. I have always wanted to know the practices that Nike used to make their business last this long and how have they been so successful. I will explain to you how globalization and technology changes have helped or hurt the company and the major role that it has played. I also plan to construct a plan to see how my corporation could earn above-average returns and increase their gaining potential. I will explain Nike 's vision and mission statement and show how this had allowed them to continue to be one of the most outstanding business in this day and age. In turn, I plan to show how each or stakeholder plays an important role in the success of the corporation.
b: What is the Business competitive positioning and strategy; is it viable and does strategy take maximum advantage of long-term competitive advantage?
Competitive corporate environment it is important that companies pay attention to their employees’ abilities to perform their duties. What is actually important is for companies to continuously study not only how they can perform well for the customers but they also have to address the issue on how they can maintain a highly effective staff. To achieve this they should have strategies in place to measure their employees’ skills, knowledge, and attitude. This will assist in better planning strategies needed to have an effective retention program in place to measure the learning and growth perspective.
I am going the review the Article "The Five Competitive Forces That Shape Strategy" written by Micheal E. Porter. This article was published in Harvard business Review in year 2008.