Retailing & Strategic Decisions


The strategic part determines the type of business that the retailer would be in. this is governed by two considerations—financial and familiarity considerations and image related consideration:

  1. Financial and familiarity considerations: A most of the outlets are proprietary in nature, the type of business that retailer would like to undertake would be governed by the investment capacity of the person and his familiarity with the product line.
  2. Image related considerations: Retailing is just not a way of business, it is a way of expressing oneself in the society. The shop depending on where it is located and the type of products and brands it deals in, will contribute to the social standing of the shop owner.

As these decisions are taken before taking up dealership with a company, the strategic considerations are not studied. From a marketer’s point of view the managerial considerations become important as they determine (a) whether the retailer would stock and sell their brands, and (b) the effort the retailer would put in to sell the brand.

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.

Discounted Cash Flow


It is a useful conception from Discounted Cash Flows that they are future cash flows expressed in terms of their present value. The discounted cash flow technique employs this reasoning by evaluating the present value of a business’s net cash flow (cash inflows minus cash outflows). A simplified view of cash flow is “cash flow from operations,” which is net income plus depreciation charges, because depreciation is a non-cash charge against sales to determine net income. The present value of a stream cash flows is obtained by selecting an interest or discount rate at which these flows are to be valued, or discounted, and the timing of each. The interest or discount rate is often defined by the opportunity cost of capital—the cost of earning opportunities forgone by investing in a business with its attendant risk as opposed to investing in risk free securities

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.

Rational Management


Rational management means making full use of the thinking ability of the people in an organization. It is a continuing process. Use of the ideas and their benefits will eventually fade out if they are not continually used and reinforced.

Rational management aims at major change and therefore demands major commitment. But this system cannot be introduced by half-heartedly sprinkling a few ideas and suggestions among a random mix of the organization’s people in the hope that something good will happen. We must identify the significant people within the organization, for they should be the first to learn and use the new ideas. We must identify their subordinates and the people who provide them with information. We must identify those who will implement the conclusions that come out of the use of the ideas. In short, it is imperative to pinpoint all the people within an organization who make things happen. The objective is to move the organization closer to it full potential. This can be done only by introducing teamwork based on the continuing conscious use of common approaches expressed in a simple, common language and directed toward resolution of an organization’s important concerns.

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.

Project Implementation


Clarify implementation goals and standards—what is the intended result of the project? How will we know when we have achieved it? To provide direction to the project the goal should be expressed in terms of performance or output. The goal should be specific, realistic, attainable, challenging, consistent with the available resources and the organization’s policies and procedures, measurable and should have a deadline. The implementation standards should address quality, quantity and timing. This should include a set of standards to identify what actions must be taken meet them.

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.

Strategic Marketing & Budgeting


A phase in the strategic marketing management process is budgeting. A budget is a formal, quantitative  expression of an organization’s planning and strategy initiatives expressed in financial terms. A well-prepared budget meshes and balances an organization’s financial, production, and marketing resources so that overall organizational goals or objectives are attained.

An organization’s master budget consists of two parts: 1) an operating budget, and 2) a financial budget. The operating budget focuses on an organization’s income statement. Since the operating budget projects future revenue and expenses, it is sometimes referred to as a pro forma income statement or profit plan. The financial budget focuses on the effect that the operating budget and other initiatives (such as capital expenditures) will have on the organization’s cash position.

In addition to the operating and financial budget, many organizations prepare supplemental special budgets, such as an advertising and sales budget, and related reports tied to the master budget. Budgeting is more than an accounting function. It is an essential element of strategic marketing management.

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.

Ethical Communication


Unethical people are essentially selfish and unscrupulous, saying or doing whatever it takes to achieve an end. Ethical people are generally trustworthy, fair, and impartial, respecting the rights of others and concerned about the impact of their actions on society.

Ethics plays a crucial role in communication. Language itself is made up of words that carry values. So merely by saying things a certain way, you influence how others perceive your message, and you shape expectations and behaviors. Likewise, when an organization expresses itself internally, it influences the values of its employees; when it communicates externally, it shapes the way outsiders perceive it. Ethical communication includes all relevant information, is true in every sense, and is not deceptive in any way.

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.

Take Risks


  • Think excellence. Great satisfaction comes from doing your best in every activity. Average performance is never good enough.
  • You are being copied by others in everything you do. So, set the kind of examples you want followed.
  • Speaking up is essential to leadership. Express yourself at every opportunity. Conquer fear by speaking up. You need other people to help you achieve your goals. So, win their cooperation.
  • Invest all the praise you receive.
  • Take 100 percent responsibility when things go wrong.
  • Coordinate the knowledge of other people.
  • Have the courage to take risks. Taking risks is as essential to success as breathing is to life.

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.

Want Satisfaction and Levels of Living


The level of want satisfaction achieved in a given economic society is hard to measure. Ordinarily it is expressed in terms of per capita income—sometimes gross and sometimes net, depending on the availability of data. There may be a great dispersion around the average; and the average income figure may be misleading.  Nevertheless, per capita income appears to be one of the best measures available of the performance of an economy.

Sometimes people judge the performance of an economy on the basis of whether per capita incomes are at a satisfactory level. The implication is that if the level is below satisfactory, something ought to be done about it—that everyone is entitled to a satisfactory level of living. Judgments of these kinds are not very valuable from the point of view of economic analysis.

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.

 

Effective Market Segmentation


Market segmentation is a means to an end: to identify and profile distinct groups of buyers who differ in their needs, preferences, and responsiveness to an organization’s marketing programs. Effective market segmentation should provide answers to six fundamental buyer-related questions for each market segment:

  1. Who are they?
  2. What do they want to buy?
  3. How do they want to buy?
  4. When do they want to buy?
  5. Where do they want to buy?
  6. Why do they want to buy?

More often than not, the answers should be expressed in a narrative form documented with quantitative and qualitative research.

From a managerial perspective, effective market segmentation means that each segment identified and profiled satisfies four fundamental requirements. Each market segment should be:

  1. Measureable. The size and buying power of market segmentation can be quantitatively determined.
  2. Differentiable. A market segment is distinguishable from other segments and responds differently to different marketing programs.
  3. Accessible. A segment can be effectively reached and served through an economically viable marketing program.
  4. Substantial. A segment should be large enough in terms of sales volume potential to cover the cost of the organization serving it and return a satisfactory profit.

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.

 

Defining Norms


A norm is a standard against which the appropriateness of a behavior is judged. Thus, a norm is the expected behavior or behavioral pattern in a certain situation. Group norms usually are established during the second stage of group development (communication and decision making) and carried forward into the maturity stage. People often have expectations about the behavior of others. By providing a basis for predicting others’ behaviors, norms enable people to formulate response behaviors. Without norms, the activities within a group would be chaotic. Norms serve four purposes:

  1. Norms help the group survive. Groups tend to reject deviant behavior that does not contribute to accomplishing group goals or to the survival of the group if it is threatened. Accordingly, a successful group that is not under threat may be more tolerant or deviant behavior.
  2. Norms simplify and make more predictable the behaviors expected of group members. Norms mean that members do not have to analyze each behavior and decide on a response. Members can anticipate the actions of others on the basis of group norms. When members do what is expected of them, the group is more likely to be productive and to reach its goals.
  3. Norms help the group avoid embarrassing situations. Group members often want to avoid damaging other members’ self-images and are likely to avoid certain subjects that might hurt a member’s feelings.
  4. Norms express the central values of the group and identify the group to others. Certain clothes, mannerisms, or behaviors in particular situations may be a rallying point for members and may signify to others the nature of the group.

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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