badm 197 final

badm 197 final - Michael Samuels Brittany Snyder 3/6/10...

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Brittany Snyder 3/6/10 BADM 197 Final 2. A well-run company is only as successful as its leadership. Sun Tzu parallels this idea through his quote in The Art of War. Employees need to be empowered and motivated in order to perform at their maximum potential. This can include incentives or regular meetings to keep employees “in the know” and on the same page to make for a cohesive company. This is especially important during times of change. Modern society is constantly presenting itself with new and better ways to conduct business. A company must keep up with these changes to remain competitive in their field. Frequent changes can potentially disrupt the solidarity of a firm. This is where good leadership is essential. A proper leader will ensure the whole company remains a unit and is constantly working towards the same goal. In today’s world competition is very high. For a company to achieve greatness, a leader must strive for greatness and help their employees be the best they can be at all times. This involves constant education, not only on skills, but on behaviors as well. 3. A Company’s strategy and structure have direct influence on the moral of their employees. Compensation standards that include salary, bonuses, and benefits dictate how well the company’s employees perform. Nucor’s strategy was to create a top to bottom incentive structure that allowed employees to control how much money they would earn based on their performance. This system influences each employee, from factory worker to executive, to work hard. Everyone within the corporation was treated on a similar scale, which allowed Nucor to maintain a comfortable company culture. Employees enjoyed going to work and were motivated to perform well. Nucor’s corporate strategy helps create its unique company culture, which differed from other companies in the industry whose incentive structures were not as transparent. The success of their incentive package combined with low-cost production capabilities allowed Nucor to be successful. Employees feel like the work they do matters which makes it a more enjoyable environment to work in. Employee satisfaction is fundamental in running a company, and executives must keep this in mind when formulating corporate strategies as these strategies are reflected ultimately by the resulting culture within the company. Nucor had the foresight few companies do when developing these polices. 4. This new product will have a direct impact on all the firms in these industries. There are two strategies that can be used in order to remain competitive giving this advancement of technology. They can lower prices to create a submarket and compete for customers and companies who
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This note was uploaded on 10/20/2010 for the course BADM 197 taught by Professor Sallyw.fowler during the Spring '10 term at GWU.

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badm 197 final - Michael Samuels Brittany Snyder 3/6/10...

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