Business topic Assignment Example | Topics and Well Written Essays - 1500 words

Business topic - Assignment ExampleThe appointee will discuss about these elements that can help the newly developed bookshop to develop powerful core competencies. The general Environment The newly developed bookshop should castigate to consider the importance of to each one and every element of general environment in order to achieve significant stock output. frugalal Conditions It is sure that Australian economic environment is becoming highly challenging due to recent monetary crisis and global economic recession. Therefore, it is quite difficult for the new organization to achieve significant business produce rate from the initial point of time. The organization should canvass to focus on high business capital punishment by ensuring stiff intellectual capital. Employees be considered as the strongest assets for an organization. The newly developed book shop should try to fend for in force(p) relationship with the skilled and effective employees as the retention o f experienced and skilled employees is the major(ip) concern for each and every organization. High performance and skill level of an employee enhance effective business performance. Employees generally represent the organizations intellectual capital. Retention and recruitment of new employees will help the organization to maintain effective relationship with the government and several stakeholders. The economic slowdown affected the economic environment of Australia (Damanpour, 1991, p.11). It is true that high unemployment rate, limited purchasing power and low disposable income of people are the major consequences of economic slowdown. Therefore, the organizations recruitment and retention policy will help to overcome the economic challenges standardized high unemployment rate. In addition to this, the organization should try to provide products in economic price level. Customers are considered as the real king for the business organization. They can switch over other brand or s hop if the current organization fails to satisfy their basic needs. During this, economic slowdown it is distinguished for the organization to deoxidize several business operation cost and implement competitive pricing strategy without compromising with the graphic symbol of the books. It will help the organization to gain significant advantages. Socio-cultural Conditions The knowledge of employees can be regarded as the primary(prenominal) asset for the employers. Securing intellectual capital will help the newly developed bookshop to maintain effective relationship with the customers. It is important for the bookshop to maintain strong ethics in the business processes to avoid the possibilities of body of work conflicts. Last but not the least it is important for the organization to ensure effective leadership and managerial skills to manage a diverse multicultural workforce. In case of any difficulty the managers of the organization should try to implement change management process to develop strategies according to the current market demand. It is highly important for the newly developed bookshop to develop a strong management foundation to maintain effective workplace environment (Rodiek, 2008, p.29). It is discussed earlier that