By Varun Sridhar
By the BusinessDictionary.com
Ability of a firm or a nation to offer products and services that meet the quality standards of the local and world markets at prices that are competitive and provide adequate returns on the resources employed or consumed in producing them.
Profiling organizational competitiveness:
Predictions of the 1990's as a decade of "white water rafting" and enormous change are coming true. In seemingly nano-seconds, world events change: political systems of centuries are overturned in weeks without bloodshed, wars are begun and ended in less time than it takes to complete the NBA playoffs or The Barclays Premier League, secure political futures are jeopardized with overnight polls. Firms that have been long honoured for excellence and success struggle to maintain market share. Firms known for growth and expansion face the unenviable task of downsizing and doing more with less. Service firms have replaced manufacturing firms as the dominant organizational form. An executive recently remarked that businesses that have taken over 50 years to build can be literally dismantled in less than two years if executives fail to adapt and change. In this more demanding and changing business context, the need to find new ways to compete becomes ever more important. Competitiveness has become a fundamental belief and goal that drives executive behaviour. Losing competitiveness means defeat. Gaining competitiveness becomes a constant quest. Finding new forms of competitiveness becomes a necessity. In the last few years, executives have begun to see that competitiveness is not based solely on product, technology, systems, or financial engineering. Increasingly, executives are discovering that competitiveness is derived from within the organization, from how the organization manages its people and processes (Ulrich and Lake, 1990). "People are our primary source of competitive advantage"
Hershey Foods, Annual Report, 1992
"Teamwork is the cornerstone of commitment to continuous quality and productivity improvement. Working together, Hershey Foods' employees everywhere show tremendous pride in their company and its products . . . Hershey Foods' management style reflects efforts to keep pace in an increasingly competitive environment--by encouraging more innovation, challenging methods of operation, and striving to create value in everything we do. The greatest opportunity to secure a competitive advantage in through a diverse, highly motivated and well trained work force." Employee first, Customer second-Vineet Nayar
Recent studies show that about half of INDIAN workers are not satisfied with their jobs. Many seek a stronger sense of inclusion, connection and control at work, and want to feel more valued and cared about by their managers. Individuals also expect greater flexibility to allow them to achieve desired levels of work/life balance and personal satisfaction. Identifying and addressing employees' most important concerns is something that all business leaders and managers need to hold themselves accountable for. This should not be left mainly or solely to the Human Resource department to deal with, as employees need to feel genuine caring and concern from all leaders, especially from their immediate managers (in addition to HR). When that feeling is lacking, employees quickly become dissatisfied, and productivity and business results suffer. Surveys conducted by The Society of Human Resource Management indicate that employees' feelings as to whether their organizations care about them correlate with their levels of “satisfaction” at work. Generally, employees who feel their manager/employer cares about their needs tend to report higher levels of engagement, and the companies with higher levels of employee engagement...