Insert Image HUMAN RESOURCES: •The characteristics of human resource like quality, skills, attitude, morale, commitment, involvement and initiative •Example - while Japanese companies treat their all employees as process improvers. 51
Insert Image COMPANY IMAGE AND BRAND EQUITY: •The image and brand equity of the company helps in raising finance, choosing dealers and suppliers, launching new products, soliciting marketing intermediaries, etc. 52
Insert Image ORGANIZATIONAL CLIMATE: •A by-product of the company's culture is the organizational climate. The overall theme of the workplace and the morale of its workers are elements of daily climate. •The daily relationships and interactions of employees are indicative of an organization's climate. 53
Insert Image OTHER FACTORS: •Philosophy of management is the manager's set of personal beliefs and values about people and work and as such, is something that the manager can control. •According to McGregor - there exist two types of managers. •The Theory X managers treat employees almost as children •while Theory Y managers treat employees as competent adults •The number of co-workers involved within a decision‐making or problem‐solving process reflects the manager's leadership style. 54
Insert Image CONTD… •Empowerment means delegating decision‐making authority to subordinates, freedom, knowledge, autonomy, and skills. •In addition, response time may improve, because information and decisions need not be passed up and down the hierarchy. •The production capacity, technology, R & D work, distribution logistics etc. are the factors that influence functioning and competitiveness of the firm 55
“EXTERNAL ENVIRONMEN T”
Insert Image EXTERNAL ENVIRONMENT: • External environment - have both facilitating and inhibiting influences on the functioning of the business. The key dimension of an external environment consists of a micro environment and a macro environment. 57
Insert Image Micro Suppliers Macro Economic Environme Customers environm Political Market Social and nt Intermediaries ent Cultural Technological Competitor Legal Financiers Public Natural Financial 58 Demography Global
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