Strategic Needs and Decision-Making

Strategic Needs and Decision-Making
Name
Institutional Affiliation
Date

Strategic Needs and Decision-Making
Companies should identify their strengths and weaknesses to develop strategies that enable them to achieve their objectives. In this case, the construction firm should ensure that it avoids activities listed as their weaknesses by maximizing the potential of their workers. While the organization has a positive reputation in the region, it is essential for company managers to review their products and services and align them with the interests of their target market. Alternatively, increasing their workforce will enable the company to meet its targets and overcome competition because of a high level of professionalism and ability to provide employment opportunities to the locals, as a way of giving back to the society.
When capital becomes limited in an organizational setting, leaders should review their approaches and identify other sources of revenue. From this observation, it is evident that inflation and other economic aspects are defined by events that take place in the contemporary society. While the construction firm might be unable to control the rate of increase in the region, they should cushion their employees from effects of weakening currency by diversifying their interests and introducing tax regimes that moderate the consequences (Muthuveloo, Kang, and Teoh, 2017). Additionally, the organization should conduct intensive market research to understand the dominance of Chinese firms and respond with innovative solutions that improve the lifestyle of individuals.

Increasing the workforce will enable the company to meet its targets and overcome competition because of a high level of professionalism and ability to provide employment opportunities to the locals, as a way of giving back to the society. In fact, the construction firm should identify its problems and focus on eradicating them through revolutionary tactics that allow the organization to achieve a competitive advantage over other industry players. Therefore, company managers should engage the employees and recruit professional workers to help them make their organization.

References
Muthuveloo, R., Kang Chia, C., & Teoh Ai, P. (2017). An Empirical Analysis of the Perceived Skills in Predicting Managerial Effectiveness: The Malaysian Perspective. Global Business & Management Research, 941-59.