Negligence


Negligence is a failure to use ordinary care in the performance of an action. Businesses have an implicit duty to use reasonable care in designing and creating the product, as well as, in informing consumers about any potential hazards associated with the product. Labels, salespersons’ claims, and advertisements must tell consumers what they need to know about the product to avoid using it in ways that could lead to personal injury.

My Consultancy–Asif J. Mir - Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Bases of Power


There are mainly five bases of power in organizations.

  • Legitimate power exists when one person believes that it is right for another to give orders or otherwise exercise authority.
  • Reward power is based on one person’s ability to administer desired outcomes to another and to remove those outcomes that are not desired.
  • Coercive power is based on a person’s ability to affect the punishment that another receives.
  • Referent power is derived from feelings of identity or oneness, that one person has with another, or from the desire for that identity.
  • Expert power is based on one person’s perception that another has needed knowledge, skills, or perspectives in a given area.

Although managers use all these bases of power, some are generally more effective than others, for instance, managers who rely on coercive power are likely to anger and alienate those they coerce. Such managers will encounter secret rebellion. Similarly, those who regularly “pull rank” demanding obedience simply because of their position in the hierarchy, may face resentment and begrudging acceptance.

My Consultancy–Asif J. Mir - Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Product Classification


Different kinds of products are marketed in different ways. How products are classified tells us a lot about how they can be marketed. Product classification recognizes that people buy a product for various reasons. This is why it is said that a product is more than the sum of its physical attributes. A product classification also involves consideration of servicing, warranties, and delivery terms, as well as, the important image attributes of prestige, reputation, and perceived quality. In a product classification, buyer perceptions are just as important as the manufacturer’s specifications.

The most basic distinction is between consumer products and industrial products, because they are marketed in different ways.

My Consultancy–Asif J. Mir - Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Oligopoly


An oligopoly exists when there are very few businesses selling a product. In an oligopoly, individual businesses have control over their products’ price because each business supplies a large portion of the products sold in the marketplace. Nonetheless, the prices charged by different firms stay fairly close because a price cut or increase by one company will trigger a similar response from another company. In the airline industry, for example, when one airline cuts fares to boost sales, other airlines quickly follow with rate decreases to remain competitive. Oligopolies exist when it is expensive for new firms to enter the marketplace. Not just anyone can acquire enough financial capital to build an automobile production facility or purchase enough airplanes and related resources to build an airline.

My Consultancy–Asif J. Mir - Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Analyzing Current Situation: Checklist


Phase 1: The Environment

  1. What is the state of the economy and are there any trends that could affect the industry, firm, or marketing strategy?
  2. What are current trends in cultural and social values and how do these affect the industry, firm, or marketing strategy?
  3. What are current political values and trends and how do they affect the industry, firm, or marketing strategy?
  4. Is there any current or pending federal, state, or local legislation that could change the industry, firm, or marketing strategy?
  5. Overall, are there any threats or opportunities in the environment that could influence the industry, firm, or marketing strategy?

Phase 2: The Industry

  1. What industry is the firm in?
  2. Which firms are the major competitors in the industry and what is their annual sales, market share, and growth profile?
  3. What strategies have competitors in the industry been using, and what has been their success with them?
  4. What are the relative strengths and weaknesses of competitors in the industry?
  5. Is there a threat of new competitors coming into the industry, and what are the major entry barriers?
  6. Are there any substitute products for the industry, and what are their advantages and disadvantages compared to this industry’s products?
  7. How much bargaining power do suppliers have in this industry, and what is its impact on the firm and industry profits?
  8. How much bargaining power do buyers have in this industry, and what is its impact on the firm and industry profits?

Phase 3: The Firm

  1. What are the objectives of the firm? Are they clearly stated? Attainable?
  2. What are the strengths of the firm? Managed expertise? Financial? Copyrights or patents?
  3. What are the constraints and weaknesses of the firm?
  4. Are there any real or potential sources of dysfunctional conflict in the structure of the firm?
  5. How is the marketing department structured in the firm?

Phase 4: The marketing Strategy

  1. What are the objectives of the marketing strategy? Are they clearly stated? Are they consistent with the objectives of the firm? Is the entire marketing mix structured to meet these objectives?
  2. What marketing concepts are at issue in the current strategy? Is the marketing strategy well planned and laid out? Is the strategy consistent with sound marketing principles? If the strategy takes exception to marketing principles, is there a good reason for it?
  3. To what target market is the strategy directed? Is it well defined? Is the market large enough to be profitably served? Does the market have long-run potential?
  4. What competitive advantage does the marketing strategy offer? If none, what can be done to gain a competitive advantage in the marketplace?
  5. What products are being sold? What is the width, depth, and consistency of the firm’s product lines? Does the firm need new products to fill out its product line? Should any product be deleted? What is the profitability of the various products?
  6. What promotion mix is being used? Is promotion consistent with the products and product images? What could be done to improve the promotion mix?
  7. What channels of distribution are being used? Do they deliver the product at the right time and right place to meet customer needs? Are the channels typical of those used in the industry? Could channels be made more efficient?
  8. What pricing strategies are being used? Hw do prices compare with similar products of other firms? How are prices determined?
  9. Are marketing research and information systematically integrated into the marketing strategy? Is the overall marketing strategy internally consistent?

My Consultancy–Asif J. Mir - Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Job Interview Questions


Employment History

  • Why do you wish to change employment?
  • What do you like the least about your position?
  • What goals do you expect to achieve in this job that you have not already accomplished?

The New Position

  • What are your expectations of this position?
  • What do you anticipate being the most challenging aspects of this job?
  • What can you contribute to this position?
  • What would be your first goal in this position?
  • How would you handle a 10 percent budget cut in your area of responsibility?

Career Goals

  • What are your long-term goals?
  • How have you moved from each stage in your career to the next?
  • What factors are most important to you in terms of job satisfaction?
  • When do you anticipate a promotion?

Company “Fit”

  • Do you consider yourself amicable?
  • Are you a team player or are you more satisfied working alone?
  • Do you praise the contributions of others?
  • What characteristics do you believe an outstanding subordinate should possess? Peer? Superior?
  • How would you handle a “problem” employee?
  • How would you deal with a colleague who has competed with you for a passion, feels better qualified than you, and is now your subordinate?

My Consultancy–Asif J. Mir - Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

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