Work in teams is impossible without conflicts. A group of people with different values, skills, and attitudes inevitably comes to a disagreement at some point. Even united by a single (corporate) interest, people have different ideas of what is best to their team. Some of them are better at making a compromise while others got used to getting their ideas through to the top. Resolving conflicts usually takes the third party that has an impartial look at different ideas. Managers frequently come as such an unbiased party, but still, it is always crucial for team members to possess problem-solving
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The aim of every particular product is to meet the demand of the customer. Companies have learned that customization is an important strategy for promoting products as it evaluates individuals with their needs, preferences, and tastes. First, customization makes the manufacturer meet the need of their clients and include them to the values of the provider. Next, it induces the provider to set a fair price on their products so that the customers in question could afford products designed for them. Today customization is all about providing custom products and services with the efficiency of the mass production.
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Many companies do some outsourcing because it is a profitable, efficient, and safe technique. Initially, outsourcing was common only for the manufacturing sector and all the “blue-collar” work. Over the time, it became possible to outsource even white-collar jobs to developing countries where running a business is always cheaper. Currently, India is the top destination for outsourcing IT and business process outsourcing jobs. Though the country opened its market later than China or Singapore did, India provides plenty of benefits for IT outsourcing in particular. Unlike the developed countries, India can offer a qualified workforce at a lower
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Going green is useful and safe both for individual households and organizations. Effective waste management is in the best interests of society, and governments traditionally issue some environmental standards for firms to comply with. They usually require manufacturers to build some pollution-control equipment, limit technical storage, change training and auditing procedures. In case of non-compliance, companies are to pay penalties to the government. But fees are not the prior reason why businesses comply with the environmental legislation. Sometimes, it is cheaper for a company to pay penalties than to modify facilities and adopt new practices. Besides governmental fees,
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Emerging economies make up more than 80 percent of the world population but generate less than 10 percent of the global GDP. In such conditions, advanced economies question the management in the emerging ones. Indeed, there is a gap in supervising between rich and poor countries; it occurs due to the specifics of doing business in each of them. In the emerging economies, people have a different demand and fewer opportunities for running a business at hand. They do not require corporate management as we know it; people seek effective practices to make small enterprises produce enough revenue to
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