Methodology of Management Hypercompetition †MyAssignmenthelp.com

Question: Discuss about the Methodology of Management Hypercompetition. Answer: Introduction: The information system and the change in the organizational design aligned properly with the changes implemented in the business strategy. The utilization of 90% components in just one designed was changed and almost same components was utilized in the new products. The new business strategy imparted high benefits and changes in the organizational design aided in achieving the profits. The methodology of the product was changed and new products were introduced leading to huge gain of profits. Moreover, expanding the business by covering the entire population proved to be highly beneficial for the organization. Moreover, the Information system also provided accurate results. The Lego Company was centered on the creation of art rather than just building out toys. Moreover, the Company used to incorporate creativity and innovation in the product at the cost of profits. They used to provide the best quality products at a minimal cost thereby suffering great losses to the Company. Moreover, the raw materials used were of the best quality and were distinct which stated that the requirements of different products are different (Negev et al., 2018). This would also lead to immense loss as huge amount of raw materials were left unused. Does the changes implemented lead to hyper competition? There were drastic changes implemented by the new CEO of Lego, such as reduction in the investment and huge gain of profits. Moreover, production of toys relating to star wars and other characters gained huge market. Its involvement into the virtual world that incorporated video games and virtual interactions also gained huge market. There were reduction in cost and introduction of brand ambassador introduced huge benefits to the company leading to hyper competition in the market (Vasiltsova et al., 2015). In addition to these, the involvement of the company in the movie making business further alarmed the competitors, thereby leading to hyper competition in the market. The company should provide proper training to the employees such that they would gather better skills and design more innovative products. Moreover, proper cost analysis should be done on a regular interval such to remain updated of the capitals invested and revenue received. Moreover, the defaults must be identified properly and specific changes should be implemented such that the company keeps on growing. The enhancement of the skill set of the employees can also lead to vast growth of the company. The quality of the product should be maintained properly and cost should not be too high. References Negev, M., Berman, T., Reicher, S., Sadeh, M., Ardi, R. and Shammai, Y., 2018. Concentrations of trace metals, phthalates, bisphenol A and flame-retardants in toys and other children's products in Israel.Chemosphere,192, pp.217-224. Vasiltsova, V.M., Dyatlov, S.A., Vasiltsov, V.S., Bezrukova, T.L. and Bezrukov, B.A., 2015. Methodology of management innovation hypercompetition.Asian Social Science,11(20), p.165.