Believe Is Most Important For A Company's Competitive Advantage: Internal Consistency Or Market Competitiveness

Satisfactory Essays
7-3: Which do you believe is most important for a company’s competitive advantage: internal consistency or market competitiveness? Explain your answer. For a company to be competitive it will need to have systems in place to recruit hire and retain skilled employees to grow and carry out its mission and vision. The company will need to understand the market and how to interact within the different markets. For example, what should be the starting salary for new employees and how should current employees be evaluated. Market competitive pay system is significant in that a main focus is attracting and retaining the most qualified employees. Having a well designed pay system will ensure that employees are paid in proportion with their job description
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