Competing By Meeting Stakeholders Needs

5 Pages 1151 Words

“Competing by Meeting Stakeholders Needs”


There are four competitive challenges influencing Human Resource Management (HRM) and U.S. companies. These four challenges are competing in the new economy; competing through high-performance work systems; competing by meeting stakeholders’ needs; competing by meeting stakeholders’ needs; and competing by meeting stakeholders’ needs competing through globalization (Noe 13).
Briefly described, competing in a new economy deals with the changing structure of the economy, the development of e-business, and more growth in professional and service occupations (Noe 13). Competing through high-performance work systems work with changing employees’ and managers’ work roles and integrated technology and social systems (Noe 35). Competing through globalization involves expanding the companies into foreign markets and preparing employees to work in foreign locations (Noe 21). Also, competing by meeting stakeholders’ needs applies to providing a return to stakeholders and providing high-quality products and work experience for employees.
The main focus through out this paper will be the challenge of competing by meeting stakeholders’ needs. Also, how this specific challenge influences the field of human resource management; the emerging trends in the challenge; the reasons a company should produce high-quality products to better suit its consumers; and the reasons why a company should offer decent pay rates, work environments and benefits to their employees will be discussed in depth and thoroughly.
Stakeholders include stockholders (people who want a return on their investment), customers (people who want a high-quality product or service), and employees (people who desire interesting work and reasonable compensation for their services)(Noe 23). It is HRM’s (Human Resource Management) position to satisfy the needs of the stakeholders, employees and customers. The challe...