Question

Imagine you are a world-renowned management consultant. Teddy K., the owner of a sports magazine conglomerate contacts you and asks for your advice about some changes proposed by his management team. Which of the following changes are likely to give Teddy K.’s company a competitive edge? Check all that apply.

Answer 1

Answer:

Regularly tell employees exactly how the company is doing: Share good and bad financial reports with them.

Offer company-wide performance bonuses when the organization hits its targets.

Explanation:

Keeping the employees informed about the good and bad financial reports gives you a competitive edge because it improves employees' performance. They show more loyalty towards the company this way.

Also, offering bonuses upon completing the targets also gives competitive edge as the workers are motivated to work hard to reach the targets.