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Efficiency And Change In Management

Satisfactory Essays
There have been a multitude of changes in management practices that have occured in the recent past within the various companies and corporation that help both this country and world run efficiently by creating products and resources that help benefit consumers. Many of these changes have had big impacts on topics such as efficiency and management within businesses and big impacts on achieving and maintaining a competitive advantage in the marketplace. Without having these changes in management many companies would struggle to see themselves grow to their full potential and provide the utmost customer service they can provide to their consumers, who play a large role in their success.

To begin with, efficiency is a skill companies
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Another example of changes in management practices that help lead to companies becoming more efficient is when managers makes changes in their practices to focus on choosing right goals while making good use of resources. By doing this somewhat simple step to help change their management practices, managers are able to help place their company on a path that is known as “High efficiency/high effectiveness”. This allows them to create more products with less resources that are of high quality leading to more consumer purchases (known as high effectiveness), thus growing the company’s efficiency and effectiveness.

Furthermore, changes in management practices in recent years have had a profound impact on maintaining a competitive advantage in the marketplace for various companies. Maintaining a competitive advantage in the business world is very crucial for both growing companies and large companies. This is because by having a competitive edge, it leads to more customers purchasing products from the companies that have these edges because they are providing more services that companies selling the same products are not providing. This allows for those companies with the competitive edge to have a much higher net income at the end of their accounting cycle. Many changes in management practices have
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