Category: Management

What can leadership do to avoid cultural lock in from being part of their organization

➤ How does HRM improve profitability?
HRM improves profitability by increasing workforce productivity and reducing costs. Key practices include strategic hiring, targeted training, performance-based rewards, employee engagement programs, and workforce planning. These reduce turnover, shorten time-to-fill roles, raise output per employee, and improve customer experience, which together boost revenue per employee and profit margins.

Business Risk
Definition:
Business risk is the possibility that an organization will be unable to achieve its strategic objectives or sustain profitability due to factors such as market changes, competitive actions, regulatory shifts, economic conditions, or fundamental operational failures. These risks affect the enterprise as a whole and can be ongoing and long‑term.
Example:
A new competitor introduces a lower‑cost, higher‑quality product that captures a significant share of the market, causing the company’s revenues to fall and forcing the organization to rethink its business model or pricing strategy.

The tendency for decision makers to conform rather than express contrary opinions is groupthink . When this occurs, managers prioritize over the quality of the decision.

What are the 2 new additional “Ps” that form the new marketing normal?
Promotion and principles
Product and place
Product-centric and price
Participation and principles