Operational Excellence Competitive Advantage

Question :

Explain. What are some methods to assimilate new generations into the workforce to think about competitive advantage?

Answer :

Starting a new business is always a tough task and the chance of getting success is very low. Thus, the individual who is planning to start a new business should always look forward to leveraging the opportunity available in the market. There are various emerging trends that should be considered by the individual, if he or she is going to start a technology business such as artificial intelligence, blockchain, edge computing, IoT, virtual reality or augmented reality, etc. Every single emerging trend has the potential to lead the business to the highest level of success. However, artificial intelligence has significant potential for business and hence it can lead the business to achieve the goals and objectives of the business and be successful in the market. It will allow the organization to enjoy competitive advantages in the market against the key competitors (Huang & Rust, 2018). It is necessary to be successful in the market. Artificial intelligence has also a low error rate compared to humans if it is being managed and coded properly. It also improves the efficiency and effectiveness of the organization that further boost the level of performance and productivity. Hence, the individual should focus on leveraging artificial intelligence as it is the biggest opportunity for the business to grow and develop. 

There are some privacy concerns that could be raised by collaborative technologies such as Waze. It uses the personal data of users. It also shares personal data of the user that is a potential threat to the user. It may also contain location information that is also a potential threat. 

It was made as to the replica of the original and gone for sale. The website where it was available was offering the blueprint to customers on their prices. It had a potential threat to society as everybody has the blueprint of the original gun.

Technological advancement is seen as a milestone and always considered ass helpful for this world. However, it has also created various challenges including employment challenges. Due to the advancement in technology, every country and company is focusing on being capital intensive instead of labor-intensive. Capital intensive improves the quality of product or service significantly but it reduces the rate of unemployment because the work that was initially done by 10 labors, now the work is being done by 1 labor. Thus, the other 9 laborers have been unemployed. Apart from this, in order to work effectively and efficiently on advanced technologies, employees need special skills and competencies. The organization should provide training and development programs to them so that they can learn and acquire the required skills and competencies. So, it is expected that as time goes on things will get more complicated if not managed effectively. In order to assimilate the new generation into the workforce to think about competitive advantage, they assigned competent leaders as leadership plays a very critical role in motivating and encouraging the new generation and help them to engage in the work. Performance management is also important. Apart from this, they should be provided with training and career development programs.

Huang, M. H., & Rust, R. T. (2018). Artificial intelligence in service. Journal of Service Research, 21(2), 155-172.

Lockamy III, A. (2017, July). An examination of external risk factors in Apple Inc.’s supply chain. In Supply Chain Forum: An International Journal (Vol. 18, No. 3, pp. 177-