1. Would you agree to the policy of GMK for not taking advantage of new products...

1. Would you agree to the policy of GMK for not taking advantage of new products in the
offing? Why and why not? Substantiate your points through management principles. (20marks)

Expert Solution

Yes, I do agree with the strategy adopted by the GMK for not taking advantage of a new product. If we carefully analyze the management principles of responsibility and subordination of individual interest then we can find a strong reason behind this strategy. This strategy is best to produce sustainable results in long term. The organization does has strong senese of responsiblity towards the society and the custoemers it serves. It might be in the interest of current management to take advantage of new products and fetch higher market price from customers and report good financial results in order to get good remuneration but this strategy won't be sustainable as it will impact the customer relationship in long terms and if the similar behaviour is reciprocated by the customers then the company will lose more than what it would gained through short term vision of taking advantage of new products.

keosha answered 1 year ago

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