Post 1
Dear Sunny,
I agree with you that China’s trade relations with the United States over the past few years. This trade war between the world’s biggest economy has resulted in considerable losses to companies both in the United States and in China. According to BBC, the move by China to raise tariffs on US goods worth $60 billion importation. Big economy players such as Tesla have recorded as one of the negative impacts of the trade war. Companies operating between the two economies need that, despite the efforts, there are little chances the two will strike a deal and mend their trade relations. Therefore, there is a need to find a way of managing this war and staying afloat. To achieve this, businesses need to identify opportunities that have been brought up by the war. Some of the strategies that such companies may use include raising prices and communicating it to its customers, be creative in their financing, maintain profits using a cut overhead, expand their services as well as exploring new markets.
References
5 strategies for surviving the trade war. (2018, July 18). Inc.com. https://www.inc.com/gene-marks/5-strategies-for-surviving-trade-war.html
China hits back in trade war with US. (2019, May 14). BBC News. https://www.bbc.com/news/business-48253002
Post 2
Dear Ashok
Organizations over the world have this problem of not making necessary preparations for any impacts and effects of external factors. As much as these factors are hard to predict and prove challenging to prepare for, some strategies may be used to counter their effects, reduce their impacts or even take advantage of the opportunities that are brought with them. One of the steps is to understand the business environment the business is operating, the various sectors in it and how instant changes can influence making decisions. Governments may also chip in to support their Small and Medium Enterprises from collapsing and therefore saving their economies.
In conclusion, every organization should analyze their business environment and try to prepare for the unforeseen events that can disturb some factors that have a direct or indirect influence on its activities. Resulting from that organization and its management should flexible enough to avoid threats and to use opportunities arisen from triggering of an event. If the event triggers almost instantaneous, the organization should have procedures of management that would help to resist or even survive the first effects of the perturbation.
References
How to identify external factors that may affect your strategic plan. (2020, April 14). ClearPoint Strategy. https://www.clearpointstrategy.com/external-factors-that-affect-a-business/
The organization’s external environment – Organizational behaviour. (2019, February 27). BC Open Textbooks – Open Textbooks Adapted and Created by BC Faculty. https://opentextbc.ca/organizationalbehavioropenstax/chapter/the-organizations-external-environment/
Post 1
Dear Anudeep,
Yes, companies that lay emphasis on making profits rather than helping people solve problems often lead totheirfailure to sustain their business—threatening to fire employees whether they are permanently or contractual basis often works against a company’s progress. This will give them a lot of pressure to deliver to avoid being fired. For salespeople who mostly earn on a commission basis, they will give incorrect and false information about products to sell and reach the minimum target. This makes them sell the substandard drugs and other items to customers who will later get disappointed in them. This will make customers not to purchase more items from such companies.
Such companies may consider focusing on solving problems that are affecting their consumers as well as developing a better CSR strategy. This will not only draw more customers to their products but will also earn the trust of already existing customers. Returning Customers are always the best in marketing a company’s brand.
References
Nisen, M. (2014, May 19). Threatening to fire workers doesn’t make them more productive. Quartz. https://qz.com/210884/threatening-to-fire-workers-doesnt-make-them-more-productive/
Van Birgelen, M. (2004). E‐service: 24 ways to keep your customers – When the competition is just a click Away20041Ron Zemke and Tom Connellan. E‐service: 24 ways to keep your customers – When the competition is just a click away. New York, NY: AMACOM 2000. 240 pp., ISBN: 0‐8144‐0606‐8 $25.00. International Journal of Service Industry Management. https://doi.org/10.1108/09564230410540962
Post 2
Dear Dinesharumugam,
The last thing that any company, especially a pharmaceutical firm, would wish to is to produce drugs that have side effects on human beings or animals. This, apart from leading to deaths, will also amount to it going against the law and therefore lead to operational licenses cancelled. I agree that the company should put in place various measures to do laboratory tests on the drug before releasing them for use. In case the company is very sure there will be side effects of the drug, it should clearly label it on the packaging as well as educate the general public. In case of anything resulting from the use of their drugs, the company should own up and take responsibility. Furthermore, the right dosage should be communicated to avoid drug abuse. When a loved one has passed away, and the patient’s family suspects that the death may have been due to the adverse side effects of a medication, the family is allowed to sue the pharmaceutical company in a lawsuit.
References
Bhaduri, S. N., &Selarka, E. (2016). Corporate governance and corporate social responsibility—Introduction. CSR, Sustainability, Ethics & Governance, 1-10. https://doi.org/10.1007/978-981-10-0925-9_1
What medication side effects can someone sue for? (2016, February 12). File a Lawsuit. https://www.i-lawsuit.com/what-medication-side-effects-can-someone-sue-for/