Answer to Question #204949 in Management for Amelia

Question

1.   The new South African reality in terms of legislation requires a new approach towards training and development in a workplace. Describe how you would create an environment in which project teams acquire skills and knowledge and contribute to the strategic and competitive advantage of the company. 

Answer 1

Price Leadership

This strategy includes coming up with policies to ensure that the company is the lowest cost maker through cost administration so that the organization can fully utilize the advantage of economies of scale.

Product Differentiation

The employees would also be trained on the importance of differentiating the products from the company from those of the competitors. This would also ensure that the company manufactures high quality products and services through the manufacturing process.

Consumer Focusing

This strategy ensures that all the needs and wants of the consumer are fully catered for by ensuring that the company ensuring that it has a narrow target market (Meihami et al, 2014).

Employee Recognition

The company should recognize and value hard work through vices such as rewards to the employees who have done their jobs well as well as encouraging the other workers to be even more productive.

 

References

Meihami, B. and Meihami, H., 2014. Knowledge Management a way to gain a competitive advantage in firms (evidence of manufacturing companies). International letters of social and humanistic sciences, 3(14), pp.80-91.