Through innovation, the companies foresee these technological factors to deal with competitors to become successful. Nonetheless, innovation requires innovation planning and design process, which are essential for company growth. Innovation and Design in Today’s Business World: Organizations and businesses in the global environment are forced to permanently look for the most effective techniques to maximize their innovation management initiatives (Liem & Brangier, 2012, p.5244). Companies seek for such efforts or measures because of increased dynamism of the business environment. The innovation management efforts adopted by organizations and businesses are through new techniques and paradigms that serve existing and new markets efficiently including those with new and modified products and/or services.
Major Assets Telecommunication in today's business world is constantly growing and continues to be considered as a major asset to the business world. It is crucial for a company to have a better understanding of all of the available and up-to-date technology. The businesses should also be capable of conducting an effective communication relationship among the company. These important elements are a multicultural workforce within a large company, diverse cultures and how they can work together, communication barriers among the employees, and financial benefits of having a diverse and multicultural workforce. For the success and growth of any company currently, these companies need to be familiar with the daily changes of modern technology and be able to adapt with these changes.
Today, companies are re-engineering their operations and investing in enhanced IT infrastructures, which enable them to provide customized, personalized, information-rich products and services. The new objective for marketers and business developers involves understanding the needs of their clients and the markets that they serve. This new focus on providing customer value is redefining business processes. Professionals, who understand and anticipate this shift, are positioning themselves ahead of the competition. The Impact of Technology Enabled Business Processes There is no denying the effect that technology has had on the way we conduct business.
The dynamic workplace causes to leaders who have to cope with many complex issues change their strategies to lead and motivate a diversified group of people while they have to work across the organisational boundaries (William, 2015). Global leadership is claimed to be a major issue in the literature of world business by Chuang (2013). Punnett (2004) demonstrates that efficiently leader is an essential key component of all organisations in this century to gain more business performance through using the benefits of globalisation and technology development. Chand (2014) states that leaders are key human resource in the organisation who are able to influence the subordinates to generate their high performance and bring the organisation achieve its goals. Leadership states to be an issue in this century because of extending economy by technological advances.
Today’s leaders are always seeking to improve their communications because they are faced with a multi-generational and diverse population workforce. Organizations that do business abroad should and must acquaint themselves with that country’s cultural practices for an effective collaboration. Therefore, effective leaders must be able to understand a diverse, multi-generational workforce to share a common goal. More importantly, when attempting to understand other cultures, leaders must be cautious not to overgeneralize, avoid stereotypes and misinterpreting differences and similarities (Barrett, 2014). While cross-cultural and global studies are fairly new in the last decades, it is spreading worldwide attention because businesses are done globally.
Organized retail is expected to be a opportunity for local, global, and nation player in India. Customer relationship management is regarded very much vital as if it works effectively which allows a retailer to gather customer data swiftly, identify the most valuable customers overtime and increase customer loyalty by providing customized products and services. Retailer now have to come up with strategies so as to capture the market in this competitive environment. To add value to services, they have to be innovative in their approach. The unorganized retail sector basically includes the local provision store, hand-made cart etc.
According to Kotter, when leaders empower their workers to provide more insight and a larger role in the organization’s development, the company culture is given the ability to grow and flourish. The organization’s development comes with a lot of changes along the way. Kotter believes that change requires a steady and infinite push, as well as sustainability to make sure it stays. Both of these literary works present us with exquisite views on what it takes to develop and succeed. Sun Tzu’s Art of War and John Kotter’s Leading Change unite to emphasize comprehensible strategy, inevitable change and quality leadership in order to achieve corporate achievement.
These changes have increased the pressure on human resource management. Srivastava (2012). Today human resource management personnel role is to attract, retain and nurture talented employees. The main point(s) of view presented in this article is (are) The first challenge Human resource management is facing is globalization. Globalization is international integration arising ... ... middle of paper ... ...ing of human resource personnel so that they understand other cultural people and motivate professional personnel more and more so that they do not change organization more frequently.
INTRODUCTION Presently, businesses need to face the changing circumstances in the world like the advancement of technological innovation and manufacturing technology, globalization, intensification of customer expectations, and competitive business environments. Hence, it needs a business strategy to sustain changes by incorporating them into business processes (Panwar et al., 2016). Basically, the strategy itself is plans of how your business achieves its objectives and maintains its position in the industry. As stated by Durai, P. (2010), effective alignment of human resource (HR) strategies with business strategies is an essential for an organisation’s success. It is believed that HR strategy improves organisational performance, but there is little or no convincing evidence for this proposition (Huselid, 1995).
A company set up a strong marketing department, does not mean that the company implemented a marketing orientation; critical issues to implement marketing -oriented company, is to train company managers and employees to accept the concept of customer-oriented. This is more difficult to achieve than to develop a new attractive products or services to customers.Basically, to create an internal marketing of a company is to create a marketing culture in the company. Staffs not only have to be trained to meet customer satisfaction but also gradually identify the consciousness and behavior of the customers. Internal marketin... ... middle of paper ... ...d ideas. In order to make sure its employees can represent a good and correct image to the customers, all the staffs in the apple store are very well known and experts in apple products, since they are also the user of the products at the same time.