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For example, AT&T has plans to purchase T Mobile. The competition strategies eliminate cases of competition in the market. Management strategies have also been used in the competitive markets in order to make profits. Globalization has also led to multinational companies branching out. As a result, the level of competition has risen due to advancements in technology and the rush for businesses to make profits.
It is the division of labor in companies as a strategy to increase chances of making profits. It includes the assembling of workers in the same field to ensure the growth of skills through repetition of the same expertise. The article about China’s expansion in the Middle East market has highlighted approaches that have been used in the competitive market (Williams 2014). China’s industrial and Commercial Bank has insisted on the division of labor in all its departments. The bank claims that specialization leads to proficiency in the offering of services to its customers. Division of labor has been embraced by many firms as a competition strategy to ensure endurance and maximization of profits.
The Editorial Board. (2014, May 14). The New York Times. Keeping the Wireless Business Competitive. Retrieved May 20, 2014, from http://www.nytimes.com/2014/05/15/opinion/keeping-the-wireless-business-competitive.html?action=click&module=Search®ion=searchResults&mabReward=relbias%3Ar&url=http%3A%2F%2Fquery.nytimes.com%2Fsearch%2Fsitesearch%2F%3Faction%3Dclick%26region%3DMasthead
Williams, A. (2014, May 18). Chinas biggest bank gets approval for Kuwait branch. Reuters. Retrieved May 19, 2014, from
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Every company tends to offer the customers more advantage in any way that the other does not so as to gain competitive advantage over the contemporaries in the market. This has toughened the work for businessmen. On the other hand, customers find themselves in a rich market.
Yasgoor and Bressler (2008, pp. 50) defines span of control as the direct number of employees which a manager supervises or who directly reports to the manager. The principle of span of control states that a limited number of subordinates should be overseen by the supervisors because monitoring the tasks of the subordinates is easier when number of subordinates is small (Meier & Bohte).
Organization theory is a good concept in organization management because it encompasses various critical theoretical frameworks that should be put into consideration for the sake of sound management practices.
So, the idea is to apply this knowledge to improving organization's overall effectiveness.
Organizational Behavior tries to analyze the behavior of an individual or a group, and tries to relate it to the employment-related issues such as absenteeism, employee turnover, productivity, management and human performance (Robbins, 2004).
Thus, what follows is a highlight of five economic concepts - opportunity cost, elasticity, comparative advantage, common resources, and public goods - integral to free trade as an (economic) activity not limited to nations but reaches far beyond to individual lives.
Further research unveils that the few minorities working in these tech star-up industries are not in the managerial positions and this further leads to the lack of diversity when it comes to decision making in these industry.
Are horizontal and parallel lines used in a control chart for the determination of variations that are of significance by indicating lower and upper limits It is the comparison of an output based on an in-control process against the specification limits through usage of capability indices.
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