Competitive business environment

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Chapter 1: Introduction

1.1 Background to Context

In a highly competitive business environment organisations have to generate and sustain higher profits to survive and achieve stable growth in future years within the context of globalisation (Wolfson, 1998:5). The easiest and most practical method of generating profits is to increase the level of sales in a company. This level of sales can be increased through various methods such as implementing effective and efficient marketing strategies and focussing on satisfied customers.

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Attracting new customers is more difficult in comparison to retaining previous customers. It is without doubt that the attraction of new customers would require additional costs and expenses related to marketing and promotional campaigns. (reference this – if you can ask the question says who then it should be referenced)

The most important and significant strategy of retaining old customers is to keep existing customers satisfied (ref). The satisfaction level of customers is affected (would influenced be better than affected) by a number of variables such as, quality of products, prices of goods and the level and quality of service and support provided by the personnel of an organisation. This implies that if customers are satisfied they will continue buying products from an organisation, their satisfaction and the service and support provided by employees of that organisation plays an increasing role of the success of an organisation (Kuballa, 2006:10). The employees will provide excellent services and support if they are satisfied (satisfied with what?) and company management needs to keep (ensure) the workforce/sales force is consistently highly satisfied and motivated. The motivation and satisfaction of employees especially the sales force within an organisation is of high importance for them, as both the commitment of these employees in achieving the objectives of an organisation and customer satisfaction levels are dependent on the motivation and satisfaction levels of employees (Ekerman et al, 2006). (Do you need a paragraph explaining the terms satisfaction and motivation at the beginning? It may help the reader).

Many organisations regard the workforce and employees (are workforce and employees not the same?) as important assets, who are responsible for achieving the overall aims and objectives of an organisation (reference). Companies and management of companies implement various motivational techniques and strategies to increase productivity levels of employees and effectively resolve and deal with various human resource management issues (Mullins, 2005:834). Managers can motivate employees using various techniques which include excellent and competitive salary and remuneration packages, awarding bonuses and incentives, improving working conditions (including the environment), increasing the level of employee involvement in the decision making process which in turn creates a sense of empowerment on the part of an employee (reference). (deleted the) Managers in organisations can increase employee motivation levels by providing both intrinsic and extrinsic rewards to employees in different forms (Mullins,

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