Question

In the context of management control, what is the issue of myopia and how does it arise? How might one attempt to resolve this myopia problem?

(1,000 words essay)

Answer 1

Myopia in management control occurs when an enterprise is unable to see or the short-sighted nature of the enterprise due to which it lacks behind and leads to its failure.

Any enterprise when is not able to have an overall development of its organization whether it is not meeting demand of customers or may be lack of technology to meet current requirements which lead to the failure of the enterprise creates the issue of myopia.

It arises mainly when an enterprise is not customer centered and does not focus on the demand of the customers due to which it goes in a declining stage.

When any organization is not able to fulfill the demand of its customer, it looses its market and hence lack behind from its competitors.

Now, all this situations lead to marketing myopia.

For example we can consider a garments industry is manufacturing clothes which are of old fashion and not in current demand. But due to their designers who are traditional and old and are not not aware of new emerging fashion, they are not able to manufacture new design clothes.

This leads to decrease their demand in market. And their rivals with new designs are gaining new heights in business. And this organization is unable to meet customers needs. Now, this is the myopia situation.

But there are many ways in which this problem of myopia can be resolved :

• The management should run a marketing research to know what are the demands in the market and what are their specifications. This would help the company hain knowledge about what should they manufacture to retain in market.
• One more thing the organization should do is to upgrade technology so that it can make advance oriducts and be with the pace of time to compete its competitors.
• The customer needs and demand should be very clear to the seller so that they can attract customers towards themselves. Thus is most important. They should also note the activities of their competitors and try to be above them and take all safety meadures to escape from the situation of running out of market.

So, in short we can say the most important step to be taken to remove the issue if myopia is to work accordingly to the needs of customers and upgrade the. Selves according to the new technology.