HOW ORGANIZATIONS IN KENYA REACT TO COMPETITION AND TECHNOLOGICAL ADVANCES
Due to changing times in the present and future industry environment, there is much change in the ways things are done too, so, causing much need to cope with the prevailing daily, weekly, monthly,yearly and multiple years changes in the business environment and the society at large.
Let us begin with their Reactions to Competition first;
HOW THEY REACT TO COMPETITION
Nowadays, there is what we call Cooperation and Competition among companies in the same industry producing similar goods and services. Through these two processes the two or more organizations involved can mutually co-exist by sharing the market force. In case one organization experiences overcapacity - A state of more demand than supply, meaning all its resources have been consumed, there is a likely possibility of this organization to take the excess customers to the nearby organization with free and vacant capacity.
To add on that, the organizations are now concerned with enhancing proper remuneration to their workers and this boosts the workers morale and hence able to perform effectively hence, thus, quality results are realized.
Lastly, Diversification of niche places and expansion of the market at the same time enhancing the spread of risks. Having many chains and channels helps in reducing risks encountered in the day - to - day organizational activities, thus favourably compete with others.
REACTION TO TECHNOLOGICAL ADVANCES
Staff training; Training of the workers who will cope with the changes in technology. Much effort is put in ensuring competitive workers are attained. Foreign expertise is also imported to replace the incompetent personnel who are unable or unwilling to embrace change.
vindori answered the question on October 18, 2017 at 16:20
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