Market Entropy: How to Manage Chaos and Uncertainty for Improving Organizational Performance

Rajagopal

Informasi Umum

Kode

25.21.1428

Klasifikasi

658.4 - Executive Management

Jenis

Buku - Elektronik (E-Book)

Subjek

Organization Development

No. Rak

Tel-U Bandung - Gedung Manterawu Lantai 5 : Rak 19 A
Tel-U Purwokerto : Rak 8

Dilihat

15 kali

Informasi Lainnya

Abstraksi

Market entropy in not an unusual phenomenon in rapidly changing market ecosystem. Consumer preferences, market demand, and business models change with the advancement of innovation, technology, and social clause and lifestyle. Consequently, large markets that attracted huge demand for products and services eventually fragment and narrow down to minimum viable segments (niche market). The longitudinal and latitudinal factors affect market entropy. Today is caused due to chaos in entry and exit of firms, partial laissez-faire conditions in transitional destinations, and rapid growth in innovation and technology affecting consumer behavior. Chaos theory highlights nonlinear behavior and temporal dynamics in the process of replacing old and established technologies with the newly created ones and drives market competition. This book discusses competitive market dynamics that explain contextual market entropy caused because of swift changes in the innovation and technology scenarios. This book delineates the attributes of cognitive ergonomics of consumers responding to the market dynamics and discusses how consumers make behavioral adjustments under the shrinking scenarios of large markets. Finally, discussions in the book address preemptive strategies to manage chaos in markets. Multiplicity of marketing functions like manufacturing and distribution significantly has contributed to the chaos in the market. Increase in the market competition commonly induces fragmentation of demand and chaos among consumers, and drives companies to take tactical actions than simply following strategic approaches to control the market dynamics.