Smart Chips Company

As a manager of Smart Chips Company, if a secondary company is cloning one of our microchip and selling it cheaper than our company sells. Our company needs to make improvements on enhancing our microchip, so it will appeal to the consumer.

According to Porter, his strategy on how to compete with the competitors was to make a new and improved product that would make the competitor impossible to duplicate the microchip. The whole concept of Porter’s plan was to make a new product appealing to the consumer. (Porter, 2003)

Other three basic requirements – effective leadership, effective HRM and healthy organizational culture are required for success of any organization. A leader has ability to motivate the employees to contribute more to the goals and objectives of the organization. A leader helps the employees to understand what is expected from them and how they can achieve the goals. A good leader can take the company on the path of success.

The role of Human Resource Management is very important. An effective HR will recruit right person, train them, assign them to right position, give them right responsibilities, and nurture them. Smart Chips should adopt best HR practices as in this industry human resource is most important asset. Healthy organizational culture motivates employees to work in a team, learn from each other, and become more innovative and productive. If an organization has healthy culture, there will be less conflict and higher satisfaction among employees, which is good for the organization.

References

Business books. (2003). In Capstone Encyclopaedia of Business. Retrieved from http://www.credoreference.com/entry/capstonebus/business_books

Porter, Michael E. (2003). In The New Penguin Business Dictionary. Retrieved from http://www.credoreference.com/entry/penguinbus/porter_michael_e