What is the difference between high road and low road economies?
What is the difference between high road and low road economies?
Homework Answers
Ans
The difference between the high road and low road economies are as follows:
1. High road consist of long term strategies whereas low road consist of short term strategies.
2. High road strategies lead to human resource development by imparting proper training , giving motivating rewards and also a job security whereas Low road strategies lead to low human resource development since its policies are concerned with providing improper training , non motivating rewards and lack of job security.
3. High road emphasis on quality production and skilled workforce for generating profits whereas Low road emphasis on low costs and downsizing for generating profits.
4. High road economies are concerned with improving existing resources by maintaining collaboration between the industries and workers so that they can sustain themselves more efficiently in the environment whereas Low road economies are concerned with using existing resources for their own welfare giving very less return to the society.
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