Global Competition Essay

420 WordsSep 3, 20122 Pages
Global Competition Jolene Bennett, Nikki Casalena, Meagan Cornett, and Bethany Herman ECO/365 April 302012 Joshua Long Global Competition This week, the focus was on global competition and how this can affect a company’s strategy to maximize profits and how to use global competition to analyze the effect of relationships between management and employees. These two topics were relatively easy for all team members to understand and be able to compare to their industries. All team members were able to relate the topics to their industries and understand how global competition can affect their specific industry. Comfortable Topics Topic The topic that I felt the most comfortable with this week was the effect of global competition on an organization’s strategies for maximizing profits. Using global competition as a means for maximizing profits is relatively simple to understand because it is easy to see how an industry can look at their competitors globally to see where they are lacking or where they are excelling. Using some of another companies marketing strategies and/or product concepts can help a business excel at selling their product and can enhance their business. Uncomfortable Topics Topic Analyzing the effect of global competition on the relationship between management and labor was a little more difficult for me to understand due to the fact that I do not use global competition in order to evaluate the relationship between my employees and my management team at my company. I have never had to use this tool to focus on the relationships between my employees because the people in my department were hired by me based upon the fact that I knew there would be a good working relationship between everyone. Correlating the Topics with Current Employers We could relate many of the objectives to our current roles with our

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