Going Global


As we wade through the second decade of 21st Century, globalization is affecting almost every industry and every individual throughout the world. Traditional marketers who decide to take their firms global may do so because they already have strong domestic market shares and/or their target market is too saturated to offer any substantial growth. Sometimes, by evaluating key indicators of the marketing environment, marketers can move toward globalization at an optimal time. A critical task facing international marketers is developing strategies for successfully entering new foreign markets. Most large firms already participate a global commerce, and many small businesses recognize the need to investigate whether to market their products overseas. It is not an easy step to take, requiring careful evaluation and preparation.

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.

Business and Consumers


The production of goods and services is the means to an end: consumer consumption. Groups of consumers have worked to produce consumer protection laws—regulation affecting business behavior that promote consumers; interests. Such laws reflect the concept of consumerism, the view that government and business have a joint responsibility to inform and protect consumers. But while consumerism provides many benefits to us, it also has important costs.

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.

Code of Ethics


Best companies have a written code of ethics.  Such codes list principles of appropriate behavior. Code of ethics generally addresses such topics as conflicts of interest, confidentiality of corporate information, misappropriation of corporate assets, bribes and kickbacks, and political support.

If code of ethics is to make a real difference, it must be carefully designed and implemented. Employees are more likely to accept a code if managers and others affected by it are involved in its development.

The code of ethics should be revised to reflect changes in the company’s product line or competitive practices. The code must be 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.

Performance Review Discussion


  • Review what has been achieved since the last review and examine reasons for successes and failures;
  • Agree on actual levels of achievement;
  • Stimulate and discuss ideas about what can be done to improve results achieved;
  • Agree on future performance goals, the basis of measurement, and timing of review;
  • Help the individual analyze personal performance and underlying factors affecting performance such as skills and knowledge, job structure, standards, and resources available;
  • Strengthen the individual’s commitment to the job;
  • Learn about the individual’s interests, goals, and long-range career plans, and help the individual relate these to the current job;
  • Strengthen the understanding between manager and individual, and foster an open line of communication;
  • Discuss and resolve specific anxieties, uncertainties or misapprehensions affecting job performance plans and directions for future career development, plan specific activities in  support of these plans and directions;
  • Get feedback from the individual on how well you have managed.

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.

The Chief Executive Officer


The chief executive officer (CEO) is the person ultimately responsible for setting organizational strategy and policy. Even though the CEO reports to the chair of the board (who has the most legal authority), in a real sense the CEO is the most powerful person in the corporation because he or she controls the allocation of resources. The board of directors gives the CEO the power to set the organization’s strategy and use its resources to create value. Often the same person is both chief executive officer and chair of the board. A person who occupies both positions wields considerable power and directly links the board to corporate management.

How does a CEO actually affect the way an organization operates? A CEO can influence organizational effectiveness and decision making in five principal ways:

  1. The CEO is responsible foe setting the organization’s goals and designing its structure.
  2. The CEO selects key executives to occupy the topmost levels of the managerial hierarchy.
  3.  The CEO determines top management’s rewards and incentives.
  4. The CEO controls the allocation of scarce resources such as money and decision making power among the organization’s functional areas or business divisions.
  5. The CEO’s actions and reputation have a major impact on inside and outside stakeholders’ views of the organization and affect the organization’s ability to attract resources from its environment.

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.

Technology and New Knowledge


Technology is one of the most powerful forces affecting business and society. Improved technology includes machines of all sizes, shapes, and functions; processes that enable business to produce goods at faster speeds, with lower costs, and with less waste; and software that that incorporates new forms of learning into formats that direct machines (hardware) to perform functions that would have taken much longer, and been less reliable, if done by other means. Technology involves harnessing human imagination to create new devices and new approaches to the needs, problems, and concerns of a modern society.

Technology also involves drawing together fields of knowledge that coverage, enabling new ways to solve problems or perform tasks.

Although new technologies have the potential to benefit large portions of the population, they may also negatively affect some people. As new technologies become available, the challenges to sound decision making become even more ethically complicated.

Technology is creating what experts call the knowledge economy. This is an economy in which new knowledge, in all of its many forms, is reshaping and transforming old industries and businesses, creating new industries and businesses, and ultimately affecting individuals, families, communities, and institutions throughout the world. For these reasons, technology must be understood as one of major drivers of change in both business and society.

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.

 

Forces in the Environments


Environment is the sum of all the forces surrounding and influencing the life and development of the firm. The forces themselves can be classified as external or internal. Management has no direct control over them, though it can exert influences. The external forces are commonly called uncontrollable forces and consist of the following:

  1. Competitive: kinds and numbers of competitors, their locations, and their activities.
  2. Distributive: national and international agencies available for distributing goods and services.
  3. Economic: variables (such as GNP, unit labor cost, and personal consumption expenditure) that influence a firm’s ability to do business.
  4. Socio-economic: characteristics and distribution of the human population.
  5. Financial: variables such as interest rates, inflation rates, and taxation.
  6. Legal: the many kinds of foreign and domestic laws by which international firms must operate.
  7. Physical: elements of nature such as topography, climate, and natural resources.
  8. Political: elements of nations’ political climates such as nationalism, forms of government, and international organizations.
  9. Socio-cultural: elements of culture (such as attitudes, beliefs, and opinions) important to international businesspeople.
  10. Labor: consumption, skills, and attitudes of labor.
  11. Technological: the technical skills and equipment that affects how resources are converted to products.

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.

 

Simultaneous Production and Consumption


Whereas most goods are produced first, then sold and consumed, most services are sold first and then produced and consumed simultaneously. A restaurant services cannot be provided until they have been sold, and the dining experience is essentially produced and consumed at the same time. Frequently this also means that the customer is present while the service is being produced and thus views and may even take part in the production process. This also means that frequently customers will interact with each other during the service production process and thus may affect each others’ experiences. For example, strangers seated next to each other in an airplane may well affect the nature of the service experience for each other. That passengers understand this fact is clearly apparent in the way business travelers will often go to great lengths to be sure they are not seated next to families with small children. Another outcome of simultaneous production and consumption is that service producers find themselves playing a role as part of the product itself and as an essential ingredient in the service experience for the consumer.

Because services often are produced and consumed at the same time, mass production is difficult if not possible. The quality of service and customer satisfaction will be highly dependent on what happens in “real time,” including actions of employees and the interactions between employees and customers. Similarly, it is not usually possible to gain significant economies of scale through centralization. Usually operations need to be relatively decentralized so that the service can be delivered to the consumer in convenient locations. Also because of simultaneous production and consumption, the customer is involved in and observes the production process and thus may affect (positively or negatively) the outcome of the service transaction.

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.

 

Impulse Products


Impulse products are products that are bought quickly—as unplanned purchase—because of a strongly felt need. True impulse products are items that the customer hadn’t planned to buy, decides to buy on sight, may have bought the same way many times before, and wants right now.

This buying behavior is important because it affects place—and the whole marketing mix—for impulse products. If the buyer doesn’t see an impulse product at the right time, the sale may be lost. That’s why retailers put impulse products where they’ll be seen and bought—near checkout counters or in other heavy traffic areas of store. Grocery stores sell gum, candy bars, and magazines this way. And life insurance is sold at airports at convenience booths or vending machines.

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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