In recent decades‚ corporate social responsibility (CSR) has gained increased attention on the global forefront. Businesses are challenged to act beyond their economic well-being‚ with the ethicality and sustainability of a firm determined largely based on its ability to meet the “Triple P bottom line” of People‚ Planet and Profit10. In 2012‚ Foxconn Technology Group‚ a supplier to electronics giants Apple‚ Microsoft‚ Sony and Amazon.com16 came under public scrutiny for multiple unethical issues
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macro environment Definitions (2) 1. The major external and uncontrollable factors thatinfluence an organization’s decision making‚ and affect itsperformance and strategies. These factors include theeconomic factors; demographics; legal‚ political‚ and socialconditions; technological changes; and natural forces. 2. Specific examples of macro environment influences include competitors‚ changes in interest rates‚ changes in cultural tastes‚ disastrous weather‚ or governmentregulations.
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Principles and Practice of Marketing Class N°1 - 30/09/2013 Chapter 1: Fundamentals of Modern Marketing 1 The Marketing Concept a) Traditional Marketing Peter Drucker: “The basic function of marketing is to attract and retain customers at a profit”. Central role in business: creation and retention of customers. Purpose of Marketing is not to chase any custom er at any price. Keeping them by providing satisfaction / attracting them by creating added value. This basic notion lacks
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Boston matrix (BCG matrix) At the end of the 1960s‚ Bruce Henderson‚ founder of the Boston Consulting Group‚ BCG‚ developed his portfolio matrix. The effect on the business world was dramatic. Henderson first came up with the concept of an experience curve‚ which differs widely from the learning curve‚ a concept formulated many years before and which states that staff productivity increases according to the number of times a particular work task is carried out. The experience curve does not have
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International Business Strategy Mission Statement Goals SBU Portfolio Analysis Strategic Focus SWOT 5 Forces Model Vorravee Pattaravongvisut Mission Statement Most difficult job Restricts Flexibility Answers the Question:What Business are We In? Other possible questions: –Who are our customers? –How do we provide them with value? –What business do we want to be in? –How will we get there? –What is our competitive scope? (industry‚ technology‚ competency‚ segments‚ channels‚ geography)
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What is strategic management? Strategic management is the art and science of formulating‚ implementing and evaluating cross-functional decisions that will enable an organization to achieve its objectives. It involves the systematic idendification of specifying the firm’s objectives‚ nurturing policies and strategies to achieve these objectives‚ and acquiring and making available these resources to implement the policies and strategies to achieve the firm’s objectives. Strategic management‚ therefore
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1 The Concept of Modern Marketing Learning Objectives By the end of this chapter‚ you should be able to: focus • Define marketing. • Specify the three basic propositions of the marketing concept. • Name and describe the four components of the marketing mix. • List the five major environmental forces that affect marketing. An exciting‚ dynamic discipline‚ marketing affects our daily lives in many ways. We are all consumers‚ and many people are part of the marketing process—as salespeople‚ advertising
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Microenvironment This section will focus on the factors within the company that effect its ability to serve its customers and follow its strategy successfully. The factors that will be looked at are: The company‚ suppliers‚ intermediaries‚ customers‚ competitors and publics. The Company HSBC is one of the world ’s largest and most successful banks. To have an idea of its magnitude have a look at the organisational structure (appendix 1). In the UK alone it has 1700 branches‚ approximately
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Marketing management is a business discipline which is focused on the practical application of techniques and the management of a firm’s marketing resources and activities. The marketing manager of a company plays an important role as far as marketing of the firm’s products and services are concerned. Apart from this‚ marketing managers are often responsible for influencing the level‚ timing and composition of customer demand accepted definition of term. It is worth noting that the roles of a marketing
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Cartier 1910 Longines begins wrist watch production 1923 Invention of the automatic wrist watch by John Hardwood 1925 Patek Philippe produces the first wrist watch with a perpetual calendar 1927 First water resistant Rolex Oyster produced 1933 First watch made for children by Ingersoll 1945 Rolex Date is the first watch with a date display on the watch face 1953 Lips produce the first battery powered watch 1957 Hamilton produces the first electric watch 1969 Girard-Perregaux develops the first mass-produced
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