In order to fight the competition in the market, an organisation plans the following acts:
(i) To increase the rate of remuneration linked to productivity.
(ii) To minimise the wastage by motivating the employees.
(iii) To increase the scale of operations to get economies of scale.
Which values are affected by the decision?
In order to fight the competition in the market, an organisation plans the following acts:
(i) To increase the rate of remuneration linked to productivity.
(ii) To minimise the wastage by motivating the employees.
(iii) To increase the scale of operations to get economies of scale.
Which values are affected by the decision?
Broadly, the company is making attempts to tackle competition by being equally competitive and maintain a suitable market share as the new goal and objective.
(i) The company will revise the budget plan link remuneration with productivity to boost employees' morale and efficiency thus being able to maintain control over the organisational resources and activities.
(ii) With short-term planning, the company would encourage creativity and innovation by motivating employees to provide new ideas and discoveries that enhance the company's competitiveness. New plans will thus focus on organisational effectiveness by utilising all resources efficiently leading to minimal or no wastage.
(iii) New plans will provide direction to the company for ensuring smooth operations by expanding the scale of operations in order to achieve the goals of remaining competitive and obtain a large share in the market.
Broadly, the company is making attempts to tackle competition by being equally competitive and maintain a suitable market share as the new goal and objective.
(i) The company will revise the budget plan link remuneration with productivity to boost employees' morale and efficiency thus being able to maintain control over the organisational resources and activities.
(ii) With short-term planning, the company would encourage creativity and innovation by motivating employees to provide new ideas and discoveries that enhance the company's competitiveness. New plans will thus focus on organisational effectiveness by utilising all resources efficiently leading to minimal or no wastage.
(iii) New plans will provide direction to the company for ensuring smooth operations by expanding the scale of operations in order to achieve the goals of remaining competitive and obtain a large share in the market.
