Organizational Knowledge Essay Example | Topics and Well Written Essays - 1750 words

Organizational Knowledge - Essay Example Other than this, in this competitive scenario, the essence of retailing changed adversely and gave rise to a centralized market situation where the rate of exchanged is extremely high as compared to others (Feldman, 2003). In this market, metal coins and paper notes are also exchanged for other goods which enhanced the scope and extent of retailing to a high extent in the recent decades. Side by side, introduction of online stores also enhanced the range of total sales in retaining sector in today market scenario (Moser &Vander, 2003). However, in spite of huge advancement, the Retail Management sector presented numerous interesting challenges that gave rise to more innovative solutions. The most vital and noteworthy issue that is hampering the portfolio of the sector of retaining is commoditization. It is a trouble-some issue that arose a few decades before that mainly highlights price wars and fierce competition among the rival players of the market. Due to which the position and b rand image of numerous reputed organization operating successfully in this segment is experiencing massive downfall resulting in reduction of the profit margin and total sales of GameStop Corporation of US. As a result, the position of GameStop Corporation in the markets of US is reducing at a significant extent, which is quite insignificant (Moser &Vander, 2003). ... This cause also marked a significant downfall of the position of US among other big players around the globe (Moser &Vander 2003). Detailed background information of the issue of commoditization described above Historical Origin of the problem: Due to the entrance of numerous new entrants, the extent of competition aroused, resulting in the problem of commoditization in the segment of retailing. Other than this, as entry in this segment do not require huge rate of investment and so it’s quite easy for the new entrants to enter it (Moser &Vander, 2003). As a result, the segment became extremely aggressive and the rate of switchovers also increased to a significant extent (Nonaka & Nishiguchi, 2001). In case of pricing problem or lack of trendiness, the customers immediately shift over towards other brands resulting in loss of prospective customers and profit margin as well (Moser &Vander, 2003). In order to cope up with this problem, I instructed my juniors and other administra tive officials to maintain a competitive margin of the products so as to retain the customers towards their brands and products. Along with this, I also decided to introduce ad present more concentration in introducing varied types of innovative designs and features in the products lines so as to make the customers attracted towards their products as compare to other rival players (Moser &Vander, 2003). Otherwise, they might not be able to maintain a sustainable position in the market among other players (Tsoukas, 2005). This proved quite successful for the organization thereby amplifying the profit margin (Moser &Vander, 2003). Proposed Solution Not only this, according to Cooper, (1999), to maintain the portfolio of the products, just like the other retailers I also tried to implement the