'In the current economic climate, what are the biggest challenges and Essay

In the watercourse economic climate, what are the biggest challenges and biggest opportunities facing brisk managers entering indus - Essay ExampleFinding unique outline There are many innovations, as upshots of reaching certain competitive advantage in come out to be on top of the competition, especially now that the live economic climate demands key players to do the right move in order to survive the tough and challenging times. The challenge therefore is to estimate of a strategy that is something new or as a new way, one that is unique and substantial to emulate in order to achieve a passing sustainable competitive advantage. According to Porter, the except way to ensure a sustainable competitive advantage on the part of an organization is to affiance strategies that are unique or hard to outdo (Porter, 1990). The current economic climate for instance allows the mobile phone producers to initiate strategies that are far better than the other. However, common to their prevailing strategies is to come up with new innovations from time to time, leading to facing off the old product trends or models. This gives the opportunity for consumers to become more than sophisticated and look for what could benefit them to the fullest, including the opportunity to find for the best price at their advantage resulting to a strong market power that is enough for them to fool remarkable bargaining power. On the other hand, this whitethorn challenge the competing companies to look for a more feasible strategy that along the way will contribute the ability to meet both the needs of the target consumers and the company. Finding for the best resource Considering the point that the current economic climate would mean finding the available or best resources in order to indorsement continuous operation, the other challenge for most managers in various organizations is finding the relevant resources linked to their true operation. This is evident to many outsourcing activities initiated by major international companies (Cornejo, 2009). The case of call centers for instance is a sinless manifestation that many companies are employing third parties in order to minimize their cost and warrantee favorableness on the process. Not only that. Outsourcing human resource is proven effective especially if organizations will contrive to employ human resource with associated low labour cost. This is evident how international companies like call centers outsourced or instituted their operation in developing countries like in Asia where they could save on their actual operational cost. chinaware for instance is a remarkable country with available resources especially the human resource that could be tapped to guarantee higher profitability. The challenge on the other hand is that there is on-going competition for allocating the best resource, which means individual companies will have to compete in this aspect, the hard way, knowing that having limite d resources is not far from the impossibility with the current economic climate. Opportunity for creativity Despite the associated challenge in finding a sustainable competitive advantage through having unique strategy that is hard to emulate or copy, managers will have the opportunity to be as creative as possible in this aspect so as to initiate their goals (Chaston, 2012). They will have the opportunity to go beyond the limit, and think of possibilities that are not to that extent realised in the current set up of the prevailing economic climate. Consider the point of the highly differentiated offerings for mobile communication gadgets and the remarkable upgrade from