Question

List at least two actions a company should consider taking, in order to combat negative impacts of the competititive driving forces and what signifigance do these actions have in a competitive marketplace?

Please provide any sources used.

Answer 1

These are the following actions a company should consider taking, in order to combat negative impacts of the competitive driving forces:-

1. ANALYZING THE MARKET FOR FUTURE NEEDS: Which allows the management to be able to create a plan based on the analysis of the market and It is termed as the primary function of an organization and if it fails to do so then it may not survive in a tight competition.

2. Slacking Workforce: Slacking workforce is the main issue that an organisation needs to confront, as it may taper the revenue of the organisation and in order to achieve the desired goals of the organisation, HR department should teach their employees how to manage the idle time, as the slacking coworker must be dealing with the lack of consciousness and could be treated in a positive manner by making them feel comfortable and describing how their objectives and company’s Objectives share the same scope.

Motivation is a great tool that can be used positively in this respect. It is seen that positive reinforcement of any positive behavior allows good working habits to be cultivated in the mind of the employee. Not only does this allow bad behavior to be rooted out. It allows the employees to feel confident even when they are being criticised.

Using this pattern any organization can help their workers manage their time efficiently and reduce slacking and increase productivity.

3. DEVELOPMENT: The talent pool that is now present in the company needs to be developed to allow them to be able to show growth and learn new skills and develop the existing ones. For building an effective team development system, a manager needs to create a system which allows them to be able to analyze and manage the elements carefully.

4. MANAGEMENT: The HRM can hire or fire staff as need be and this will allow them to fill the gap that is caused by the restructuring process and allow them to diversify their workforce. It is very important for an organization to keep a complete check on the performance of the employees in order to ensure that the employees and the organization share the same scope i.e. The achievement of a certain objective.

5. ANALYZE AND TRACK THE DEVELOPMENT PROCESS: This means that the HRM keeps a continuous track of the progress and turnovers of the company and successfully execute remedial measures as need be. As it helps the organization to make some changes to the products that they offer or the company's policy if necessary, ensuring growth and sustainability

6. DEVELOP A GOOD RECRUITMENT PROCESS AND COMPARE WITH THE GOALS OF THE PROCESS: Which allows the HRM to constantly upgrade the talent pool according to the needs of the market and the competition in order to attain the desired goal of the organization.


This ensures growth in the workforce, the efficiency of the company and safeguards the company's interests for the future.