Essay Example | Topics and Well Written Essays - 250 words - 140

Essay Example In order for firms to compete globally, it is important for managers to understand the nature of global markets (244). Competition is worldwide, and therefore it is imperative that companies understand the kind of goods and services that can give them a competitive advantage over other global industries. In addition, the productivity of labor can also affect the economic boundaries of firms. For example, industries with limited labor generally concentrate on producing basic commodities, while those with high expertise focus on producing advanced goods and services. Thus, the availability of labor affects the cost of production, which in turn re-defines trade (Samuelson & Marks, 245). In global markets, the prevailing exchange rate is as well important when computing the cost of production, because it ultimately influences the costs of exports and imports (Samuelson & Marks, 246). Another important factor is the competitive market condition. Indeed, one of the aspects managers consider when making decisions is how they can compete within markets. Depending with market environments, they consider factors that can cause barriers to their entry or even affect how they establish their prices. In a competitive market environment, for example, organizations have to consider the number of firms in the market, how prices are established, and if they can have control over them (Samuelson & Marks, 281). Finally, the application of e-commerce and technology are significantly re-defining trade in many areas, particularly cost economies. These methods facilitate customer increase because they have the potentials to reach a large population, and also offer a variety of online services, which ultimately leads to cost savings for the firms (Samuelson & Marks,

Strategic HRM Essay Example | Topics and Well Written Essays - 2500 words

Strategic HRM - Essay Example Entertainment products include the sale of compact discs and videos. Additionally, ASDA is engaged in property investment and development through its Gazeley division. In this paper we will evaluate the companies Strategic Human Resource Management policies. The Human Resource Management or personnel function of ASDA covers a variety of activities. The term Human Resource Management has largely replaced the old-fashioned word personnel, which was used in the past. (Arthur, 2003, 670-687) The effectiveness with which ASDA runs its Human Resources policies can be measured by the level of employee satisfaction, and this is where stability indexes and wastage rates are so important. If employees are content with their work, they are most likely to turn up for work. Levels of stress and stress-related absenteeism increase when there is a poor Human relations atmosphere. (Boxall, 2002, 51-7) ASDA will have a range of employees who have worked for different lengths of time and who have different levels of skills and training. The Human Resource planner will seek to have a balance of new people entering ASDA in order to cover those who are leaving. The Human Resource Planner will also want to make sure that skill levels are raising within ASDA, and that training programmes are devised to make sure people have the skills to meet ASDAs jobs requirements. If all ASDAs skilled employees are just about to retire, ASDA will have to spend a lot of money on training to build up a new pool of expertise. Succession is the way in which one person follows another person into a particular job or role within ASDA. ASDA need to make sure it is grooming people to take on the responsibility required. If ASDA do not do this, it will suddenly find itself with a vacuum where it has not developed the people to move into the appropriate position of responsibility, and ASDA will be missing the right people in key