Application Of Theories

Unit 4 Assignment 1: Individual Project

Applications of Theories

We will now turn to try and understand today's more faced paced business environment, it is just about crucial for any organization to have skilled, competent, and, most important of all, a satisfied work force. For one to be able to hire those types of employees the company must offer employee education and an employee rewards system. When it comes to empowering one's employee's change must begin with management.

Today our business environment has become more competitive than ever before. If our companies today are to be more competitive they need to become more swift and resourceful when it comes to their crusade to lower costs and increase the desirability to the consumer. The main method that industries are beginning to use to beat these tasks is by freeing their most forceful weapon, which would be their employees. By companies delegating their employees, they are using their greatest resource with the highest potential and, in exchange, they are becoming well beyond competitive in an emerging global economy like today.

About 15 years ago Xerox Corporation's dominance in the photo market was challenged by their Japanese competitors, Xerox retaliated by letting loose the power of its work force. The very change in how the management style began to let employees begin to be a part in management decisions, this was the main source to their successful comeback. Xerox learned of another great advantage of employee empowerment is that overhead costs can be reduced because there is n need for little managerial supervision.

Penetration pricing is a tactic used by companies to bring in new goods or services into their store or market. With this policy being used, the first price when introduced is set rarely low in hopes of it "penetrating" into the marketplace where it can secure a significant market share. However, penetration pricing is not the same as introductory price dealings, where at the first introductory cost is attached at a temporary low prices to new products when they first hit the market. These temporary price