Assignment 7
Based on Martin (2019) article and videos for this week, Money runs
the world and is used by both businesses and consumers to acquire
their maximum potential.
Article tells us about the potential risks and benefits for organizations
in order to maximize efficiency. Efficiency is one of the key factors
reducing wasteful practice and in layman’s term to get more output
with least amount of input, the obvious idea of reducing waste
further lead to creation of new degree of science. It’s important to
retain employee retention and employees should be working to their
full, while prioritizing them.
Martin states importance of “resilience in business by having ability
to bounce back of disturbances in environment”. Maximizing profits
can lead to a single dominant business model further creating risk to
rely on only one category of sales. However, increasing profits in a
company leads to increase in salaries and better work place.
Possessing efficiency in long run is detrimental to organization.
ADMS 1010
