Using an extended example critically discuss the view that a sector Essay

Using an extended example critically discuss the view that a sector matrix gives a better strategic understanding of product markets than the concepts of product or commodity chains - Essay Example e essay analyses other tools including value chains and commodity chains in a bid to prove the effectiveness of the sector matrix that provides an in-depth understanding of the patterns of both demand and supply which are the key market features that influences the profitability of an organization (Lane, 2005). The essay will provide a systematic approach to the analysis of the above tools including their strengths, weaknesses and the comparison of their performance against the sector matrix which the paper hypotheses is the most effective marketing tool. Marketing refers to the management function mandated with the determination, anticipation and satisfaction of the customer demand. Every business organization has a primary objective of sustained profitability in order to increase its market share. The need for growth as Froud, Haslam, Johal & Williams (1998) explain in their sector matrix relies on the determination of the market. Business organizations must have a substantial market shares and possibly increase their shares a feature that will portray growth and sustained profitability. In order to achieve such growth patterns, the organizations must have effective understanding of the factors that influence the demand from the market. By understanding the factors affecting demand, the organization readily manipulates its supply of products thereby cushioning the organization from incurring loses. Additionally, understanding the relationship between demand and supply makes it possible for organizations to plan their productions th ereby sustaining their profitability as the below analysis of the sector matrix portrays (Alexander, 2010). Just as the name suggests, the sector matrix breaks down an industry into various factors that influence the production and sale of products. Understanding the industry is fundamental for every organization since it helps the organization appreciate the nature of supply and demand. This way, the sector matric overcomes some of

Strategic human resource management Essay Example | Topics and Well Written Essays - 1250 words

Strategic human resource management - Essay Example The increased efficiency of any organization may be due to ideal way of utilizing the human resources which is accelerated by the successful implementation of strategic human resource management. Only those organizations who adopt the flexible management strategies survive in the present day global market as the element of competition creeps in at a faster rate day by day (Schuler, 1992). This necessitates the application of key strategies based on the changes in the tastes of the customers and market demand. The strategic human resource management plays vital role in supplying the necessary information to the managers related to the production of best quality produce so that the organization survives in the global market. In other words, the formulation of strategic human resource management is important to come up with innovative products that compete well with other market players. ‘Several emerging issues that strategic human resource management systems must include are tec hnological fluidity, workforce demographic changes and shifting worker values’ (Lepak and Shaw, 2008). One should keep in mind that various elements or indicators of strategic human resource management like structure, team work, style, dynamic leadership, employee organization commitment and creativity help in enhancing the organizational efficiency. Ideal structure of the organization facilitates efficient flow of resources and hence it results in increasing the overall efficiency of the organization (Kenneth et al., 2006). Employee organization commitment also plays crucial role in enhancing the organizational efficiency by reducing the absenteeism and improving the employee adaptability to the organizational changes (Su et al., 2009). Dynamic leadership is another key indicator that aids in overall monitoring and guidance of the key operations of any organization. Similarly, the team work plays vital role in production of quality product by the integration