Module No. 2 – Principle of Management Question No 2 a) List and explain the four Basic Functions of Managers Answers The functions of a manager are :- a) Planning b) Organizing c) Directing d) Controlling a) Planning Planning means setting an organization’s goals and deciding how best to achieve them. Managers need to plan so that worker’s activities are consistent with the organization’s goal and the correct type and amount of resources can be acquired. Planning
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the gloabalized business‚ companies require strategic thinking and only by evolving good corporate strategies can they become strategically competitive. A sustained or sustainable competitive advantage occurs when firm implements a value – creating strategy of which other companies are unable to duplicate the benefits or find it too costly to initiate. Corporate strategy includes the commitments‚ decisions and actions required for a firm to achieve strategic competitiveness and earn above average returns
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_______________ Date: / / Marketing Assignment Task 1. Ac 1.1. Explain the various elements of the marketing process (1) Provide at least two definitions of marketing and explain in your own words Marketing: a; Marketing includes research‚ targeting‚ communications (advertising and direct mails) and public relations. It is the process by which a firm profitably translates costumers needs into revenue. b; Marketing is helping people buy your product or service. It is defined as
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Table of Contents 1.0 INTRODUCTION 1 2.0 ANSWERS 2 2.1 QUESTION 1 2 2.2 QUESTION 2 5 2.3 QUESTION 3 10 3.0 APPENDIX 14 4.0 REFERENCES 18 1.0 INTRODUCTION From the case‚ it is stated that Metropol Zoo has to make a major decision because of its poor performance over the past few years. External factors such as economy‚ government decisions‚ change in consumer behaviour and competition contributed to it. Now‚ it has to make a decision whether to take up virtual reality (VR) technology
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) • Porter‚ M.E. (1996). What is Strategy? Harvard Business Review‚ 74 (6). In HBR’s 10 Must Reads on Strategy. (Custom Textbook (2012)‚ Managing Strategy in the Global Marketplace. Chapter 21.) • Stegmann‚ J (2009) Critical Thinking in Strategic Management: A Conceptual Guide to AMBA 670 Managing Strategy in the Global Marketplace (in Course Content) (Skim and then continue to use as a reference throughout the course) • Custom Textbook (2012)‚ Managing Strategy in the Global Marketplace. Introduction
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Introduction – I’m a newly appointed marketing manager‚ I am required to carry out a market environment situation analysis. 2.1 Micro – Some of these factors are connected with the company and affect the business. These factors have an massive impact on businesses and if not taken care of‚ it could destroy a business. A few examples of micro environments are customers‚ trade unions and banks. Micro Internals – Micro internal factors are that factors that can be controlled such as capital
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CONCEPTUAL/THEORETICAL PAPER Strategic marketing and marketing strategy: domain‚ definition‚ fundamental issues and foundational premises Rajan Varadarajan Received: 20 April 2009 / Accepted: 24 September 2009 / Published online: 28 October 2009 # Academy of Marketing Science 2009 Abstract This paper proposes a domain statement for strategic marketing as a field of study and delineates certain issues fundamental to the field. It also proposes a definition for marketing strategy‚ the focal organizational
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IBM | STRATEGIC MARKETING 310 | CASE STUDY ANAYLYSIS 1 | 1. What competences has IBM had to invest in arising from its transformation from a ‘product-centric’ to a ‘service-centric’ organization? From IBM’s largest loss in 1992 the board of directors responded by appointing Louise V. Gerstner as their new CEO to bring the company’s reputation up and minimize their profit loss. When Gerstner took over IBM from a product-centric organization he transformed IBM to a service-centric
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Marketing Project Part 1 Principles of Marketing Georgia Southern University Dr. Bock Marketing Project: Part 1 Company Description “Choose. Brew. Enjoy.”(McGinn‚ D.). These are three words that started a coffee brewing evolution‚ Keurig. Keurig is a coffee company that designs and manufactures single cup brewing system for use in the home‚ hospitality‚ commercial office‚ food service‚ and medical office environments. Keurig was founded in “1992 and is based in Reading‚ Massachusetts” (McGinn
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work‚ the following Top 10 motivating factors were identified: Appreciation or recognition for a job well done Being in the know about company matters An understanding attitude from the management Job security Good wages Interesting work Career advancement opportunities Loyalty from management Good working conditions Tactful discipline It seems that‚ in Asia‚ not enough emphasis has been placed in these areas. Some of these factors are self-evident
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