Question

The subject of human resources management

What does it mean to 'Lead the market' when designing the pay system as a compensation manager? Elaborate with an example of an organization practicing this strategy.

(at least 1 page)

please do not copy and paste from websites I needed a unique answer.

Answer 1

Lead the marketing is a term used in innovation theory and refers to a country or region as a pioneer in the success of creative design. It transmits the effects of signals to other "slowing" markets, which in turn helps to accelerate global emissions. "Successful innovations with local clients in leading markets have the potential to be more universally accepted than other designs," says Marian Beise, one of the most important promoters of the theory. Christoph Bartlett and Sumantra Goshal describe leading markets as the ones that provide the most global support for multinational products and processes. Local innovation in such markets has become useful elsewhere because of the environmentally driven nature of leading the market with some examples, Germany can be seen as a leading market for renewable energy. And automobile while the United States will be suitable for leading markets for information technology including e-commerce.

Leading markets are believed to help reduce market and technological uncertainty in the process of new product development. And can be seen as a major driver of international research and development.

Lead the markets are expected to be characterized by factors such as high per capita income, high levels of customer improvement and competitive “ecosystem”. Such factors are included in the five "benefits groups": benefits, needs, benefits, market structure, benefits, export costs and transfer benefits. Some scholars have also mentioned the benefits of regulations stemming from favorable government policies. However, some other scientists have pointed to the impact of regulation on all factors. For example, Tiwari and Herstatt (2012: 100) states: “We think it is inappropriate to consider group regulations separately because policy factors affect other groups of merit and are covered by them.