The Globalized Economy of Today - Dissertation Example

Profits and returns will of course remain the deciding factor when it comes to success, there are other factors that will also make a difference when it comes to the final result. Indeed, to succeed in today's economy requires one to have a comprehensive understanding and mastery of business systems, marketing strategies, resource management, and goal setting. And from there, both macro- and micromanagement skills are required in order to achieve the best possible results.

Such may seem simple and easy enough at first. However, when considering how all these concepts are influenced by the various factors that affect the economy and the market itself, the truth of its complexity can easily be seen. Given how either economy or market conditions can change at the drop of a hat, the burden falls on the organization itself, as well as those running it, to make the necessary adjustments in response. First and foremost, one needs to know the rules of the game in order to understand what his objectives ought to be, so that he might then strive toward them.

Of course, it should also be noted that some ways of doing so are smarter and more effective than others, which explains the need to have effective marketing strategies. Different strategies have varying viability in various situations, and so one needs to consider this and then plan accordingly. One also needs to be able to be aware of his limitations with respect to resources, and thus keep those in mind as he does what he needs to do to succeed. And finally, just as one's strategies need to be viable and practical, so too must goals be set in a manner that is practical and realistic.

Aiming high is always a good thing, but aiming far too high is not - in fact, it may even end up backfiring. At a glance, one can already guess the complex and many-layered nature of the economy, but understanding the underlying structures reveal that even the word 'complex' hardly begins to describe it. The global economy in this day and age is such that neither capital nor technical knowledge alone will guarantee one's survival, especially in an increasingly competitive corporate environment.

Most companies choose to deal with this by making sure to hire only the most competent and skilled employees. This is actually a valid strategy, and a rather effective one at that, considering that it is the company's employees who happen to be its single greatest untapped resource, and its biggest weapon in the fight to attain competitive advantage. Managerial staff also qualify to a lesser extent, if only because even their most brilliant strategies, schemes, and plans will hardly bear any fruit without a competent workforce to put them into action.

Conversely, even the most skilled employees will be limited in terms of their capabilities if their managers and supervisors leave much to be desired by way of competence. Needless to say, a company that has a competent workforce in addition to competent managerial staff stands the greatest chance of attaining a competitive advantage. As has been stated, it is a perfectly legitimate and effective strategy for a company to keep an eye out for the most talented individuals to be recruited into their ranks to help them beat out their rivals, though whether this is sufficient to get the job done is not always clear.