Are there any weak points for the company’s strategies in emerging market? What would you suggest to improve?
One of the ways through which the organization could be converted into successful ones would be by focusing upon the weakness rather than addressing the success stories of the same. Yes, there are many weak points for the company’s strategies in an emerging market. Some of the weaknesses (Billikopf, 2001) which could be seen with respect of the company’s strategies would refer to the suitability of the industry type in the emerging market. The other weak point would be in terms of the general environment where the company currently operates. Proper participation of the employees should be taken into consideration within the enterprise (Kotler & Singh, 2008). As a part of the strategies, it must be stated that all the policies or plans should be framed which would help to focus upon the involvement of the employees. The monetary benefits in terms of bonus, incentives have not been provided by the same (Kotler & Singh, 2008). This would be considered as one of the major weakness within the strategy of the company. Lack of accountability within the organization would also lead to the major weaknesses. This would lead to fail in the entire strategic planning within the organization (Kotler & Singh, 2008).
Some of the suggestions in order to improve the various weak points of the strategies of the company mentioned above. Performance appraisal shall be made a part of the company’s strategies. Validation as well as refinement of the actions within the organization shall be practiced (Billikopf, 2001). This would help in order to select as well as train the employees working in the organization towards the accomplishment of the various goals, plans, etc. As mentioned above that, lack in the involvement of the employees leads to one of the major weaknesses (Kotler & Singh, 2008). Therefore, fair feedback of the employees shall be practiced. Each & every employee of the organization wants to improve themselves so as to perform in a better manner. Hence, it would be suggested to provide the employees with a positive feedback on regular (Kotler & Singh, 2008) basis as well as encourage them so as to work towards the accomplishment of the goal. It would be suggested that, proficiency of the employees should be taken into well being (Billikopf, 2001). This would help in order to improve the overall knowledge, skill as well as in built interest so as to overcome all the deficiencies along with the improvements in the strategies of the organization (Kotler & Singh, 2008). A negotiated approach shall be adopted which would help in order to measure the appraisal in the performance thereby providing the proficient as well as effective contribution of the employees employee.
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