business productivity and cost reduction were the top concerns by a wide
margin among the top five (5) management concerns. Give your opinion on
whether or not you agree with this assertion. Justify your response
Thank you for the opportunity to help you with your question!
The 21st business
environment is very competitive with key players such that firms are concerned
on how to make their operations competitive enough. One of the areas which
firms have found to be a source of higher competitive advantage is cost
reduction. It goes without saying that the firm which would be able to produce
its commodities at the lowest cost will be able to have a higher competitive edge
in the given industry. Thus, the cost obsession of firms today makes this as
one of the issue of top concerns to firms.
On the other hand,
business productivity is an issue of concern to firms due to the issue of globalization.
With the world becoming a global village, the level of demand for any given firm
which has gone global or whose products can be viewed globally has gone up.
This made firms be on the run on how to fulfill the rising demand, thus making
business productivity an issue of great concern top managements.
Please let me know if you need any clarification. I'm always happy to answer your questions.