No-Growth Philosophy Essay
No-Growth Philosophy in the Economy
No-growth philosophy should be taught to the students so that they can gain the knowledge that ,as part of the change realized in an organization, no business is expected to forever maintain a steady development. Among the biggest problems in management is understanding of how to manage a non-growing company and to get out of the notion that that the only measurement of success is development. Writers who offer marketing case study help at Edudorm essay writing service notes that managers should understand that development of a business can be affected by factors outside their control and thus be conversant with strategies that can bring about internal changes that would turn around the situation. Changes in technology and market conditions globally can influence thedevelopment of an organization since these are closely related to the competitive environments (Carpenter,Erdogan & Bauer,2012).
Importance of no-growth philosophy
Teaching the no-growth philosophy will thus bring up managers who are expecting that any business is prone to ‘no-growth status’. It would enable them to introduce relevant changes in strategies given that organizations that are performing poorly often find it is easier for them to introduce change that the successful ones. It is also important for managers to understand that chaos can easily arise due to rapid development which may see firms increasing sales but profits dropping (Carpenter,Erdogan & Bauer,2012).
No-Growth Situations in the Market
The no-growth situations can be said to be prevailing in the current market conditions. Indeed, it may be the high time for managers to come to terms with it and may be abandon the notion that growth is the only indicator of development. Firms have found themselves focusing on ways to survive the changing and brutal economy. More specifically, the economic crisis is bringing up new ideas on the dangers of fast growth driven by mass production and consumption. Embracing appropriate changes and adopting sustainable practices may be the way to go (Spors, 2009).
References
Carpenter, M., Erdogan, B., Bauer, T.(2012). Management Principles .v. 1.1.361- 368
Spors, K. (2009). Is There a Future in ‘No-Growth’ Businesses? The Wall Street Journal.
