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In this management homework help you will the idea of the factors of good management you would apply to establish this competitive advantage.
Factors of Good Management to Establish Competitive Advantage
Our homework help team say that, It is a common fact that competitive advantage is not based on the financial resources as well as technological resources; thus, it is one of the main reasons of human resource and its effective management. Therefore, it is essential to understand different factors of good management. There are several practices that are implemented by the business organizations to manage human resource and utilize the human capital in optimum manner. Different factors of good management are different programs for development of employees, motivational strategies on the basis of different theories such as need hierarchy theory, Maslow’s theory of motivation, etc. Moreover, some other good factors of management are participate leadership, decentralized decision making process, etc. All these practices allow the management to polish the hidden skills and non-contingent capabilities of the employees so that they can firm in favor of the firm.
Six factor of successful management are commitment of top level executives towards the workforce, aspiration of recruiters and different practices to motivate them, maintaining alliances, integration of business activities worldwide, maintaining core capabilities of team, and aspiration of team to achieve goals and objectives. All these factors are also essential to enhance the employee’s competencies and improve their attitude and skills towards the firm, which enables the firms to achieve competitive advantages.
All these factors are essential to manage competitive advantage as high level of commitment between management and employees improve their long term relationship and employee can trust on the saying and doing of management. Without having a strong commitment level, it would be difficult for the management to boost the morale of employees to work with high zeal and enthusiasm. Additionally, some other factors to judge the effectiveness of management towards employees are relationship with the workers, experiences, loyalty, judgment of their intelligence, etc. All these factors also allow the management to utilize the skills and abilities human capital.
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