CMN 136 Study Guide - Final Guide: North American Free Trade Agreement, Coopetition, Developing Country
Document Summary
North america free trade agreement stimulated global trade. Access to the same and equal information sources democratizes management. The internet will give every individual the potential of working wherever they are. To cope with escalating costs of high tech research, competitors will form alliances. This is referred to as coopetition and it helps bring about new products. Must be open to new ways of doing business. Consumers demand for higher quality and faster service. Managers must listen to their employees more than ever to determine what customers are experiencing and what changes to make. Because of increasing competition, there is more demand to individually tailor products and services to the needs of the specific customers. Suppliers will be viewed as business partners, rather than adversaries. Managers will need to be able to work more effectively and efficiently with people both inside and outside the organization. Whole layers of management have already been eliminated in the us organizations.
