Technology in the workplace allows businesses to expand quickly and efficiently. Business’s need to have a high tech IQ so they can implement items such as video conferencing, social networks and virtual office technology into everyday business. With business technology, companies can target a wider customer base and grow to higher levels.
The best way to deal with competition is to effectively identify it through market research and industry knowledge. The company should also position itself in the market relative to its competition and focus on brand recognition. The company should also follow competitor movements, such as price changes, and introduction of new products. The company should always be aware of its competitors and continuing to improve itself.
Human Resources involves hiring and training the right people and having constant interaction with coworkers and dealing with a host of workplace issues that affect the morale of employees and their ability to perform their jobs effectively.