Essay about Compensation Strategy - 1090 Words

To start with, we must first understand what a managerial strategy means and how we can apply the appropriately. And according to a lay man understanding it simply means how you designs you organization in order to meet your targeted goals and how the managerial strategy links to rewards and compensation. To choose the appropriate managerial strategy for the multi-products corporation, we must firstly have to understand the five key Contextual variables, which will help identify the best managerial strategy to use. These variables are:- THE ENVIRONMENT This is the most important aspect to help determine the managerial strategy to use, because it help ask two questions to determine†¦show more content†¦soo the classical approach is also the most appropriate one here to use. ORGANIZATION SIZE The size of the organization can also help determine the managerial strategy to use because of the need to coordinate and control large number of people, large organizations generally use use classical or human relations strategies and the multi-products corporation have a forecast of large workers, it will involve about 600 workers and the size also affect structure because as organizations get larger, the impact of technology on their structure lessens. CORPORATIVE STRATEGY According to the porters typology of corporate strategy (Richard, 2009). Suggests that corporate strategies can be categorized on two dimensions, based on whether the firm is seeking to be the low-cost producer of standards products or whether it is attempting to differentiate itself by having unique products or services. And the multi product case is not a competitive environmental one cause it shows that people who want the product will generally be willing to pay what it takes to get it and it will have a fixed volume and fixed price and nobody else will be able to manufacture a similar club, due to the patent protection. So theShow MoreRelatedTotal Compensation Strategy1105 Words   |  5 PagesTotal Compensation Strategy Total Compensation Strategy Managing Diversity Nationally and internationally, companies are facing the task of reassessing the balance between their own identity and the force of integration. Centralism often makes access to new markets and regions difficult. Distinctive local autonomies, on the other hand, endanger the overall organization and identity of the company. 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