Traditional Control Systems


Traditional Control Systems are based on setting standards and then monitoring performance. These systems include three categories of controls: diagnostic controls, boundary systems and interactive controls.

  • Diagnostic Control Systems (such as budgets) allow managers to determine whether important targets have been met and if necessary, to figure out why they haven’t been.
  • Boundary Control Systems are policies that identify the boundaries within which employees are to operate. Ethical rule against accepting gifts from suppliers are an example.
  • Integrative Control Systems involve controlling employees interactively, by questioning them face to face.

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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Person Marketing


Person marketing is a category of nontraditional marketing that refers to efforts designed to cultivate the attention, interest, and preferences of a target market towards a celebrity or authority figure. Celebrities can be real people, functional characters, or widely recognized authority figures.

Campaigns for political candidates and the marketing of celebrities are examples of person marketing. In political marketing, candidates target two markets. They attempt to gain the recognition and preference of voters and the financial support of donors.

The big winners among celebrity endorsers are professional sportspeople. The fans are eager to participate in an illusion—those landlocked pillars of their community pretending they are finally going to cash in their chips and set sail for uncharted waters.

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.

Checklist for Evaluating a Franchise


The Franchise

  • Did your lawyer approve the franchise contract you are considering after he or she studied it paragraph by paragraph?
  • Does the franchise give you an exclusive territory for the length of the franchise?
  • Under what circumstances can you terminate the franchise contract and at what cost to you?
  • If you sell your franchise, will you be compensated for your goodwill (the value of your business’s reputation and other intangibles)?
  • If the franchisor sells the company, will your investment be protected?

The Franchisor

  • How many years has the firm offering you a franchise been in operation?
  • Has it a reputation for honesty and fair dealing among the local firms holding its franchise?
  • Has the franchisor shown you any certified figures indicating exact net profits of one or more going firms which you personally checked yourself with the franchisee? Ask for the company’s disclosure statement.
  • Will the firm assist you with:

A management training program?

An employee training program?

A public relations program?

Capital?

Credit?

Merchandising ideas?

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.

 

Factors that Affect Price


The price of everything—from bubble gum to space shuttle—is determined by some combination of demand and supply as analyzed by managers. Demand factors are the things that determine the strength of the consumers’ desire and ability to pay for goods and services. Supply factors are the things that determine the amount of goods and services producers place on the market. Figured in supply are the costs of producing and marketing a product and the number of competing procedures. So when pricing, managers must consider (1) demand, (2) production and marketing costs, and (3) competition.

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.

 

Common Advertising Techniques


It’s a good idea to be aware of certain common advertising techniques. There is nothing illegal or even misleading about a food advertisement that tempts you because it is photographed in a warm, cozy setting that reminds you of dinners at your grandmother’s house. But you should be aware that you may be buying the product because of the romanticized advertisement. Frequently used advertising techniques include:

  • Use of glamorous figure to endorse a product;
  • Use of sentimental pictures to awaken feelings of longing and nostalgia that the ad suggests may be fulfilled by using the product;
  • Use of “can be,” “up to,” or other “weasel words” that enable the advertiser to avoid making firm promises;
  • Implications that only the most up-to-date people use a certain product;
  • Gimmicks that make you feel you are getting a bonus, such as a free hairbrush attached to a bottle of shampoo;
  • Creation of market through convincing you that a new product will revolutionize your 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.

Price Breaks the Rules


In retail business there are three cardinal rules: 1) Do anything you can to lure in customers; 2) build on the bedrock of “location; 3) keep your doors open as long as possible. The express lane at the Price Club is 2,000 items or less.

Not only are the Price Club’s huge discount warehouses in atypical, out of the way locations, but people actually pay to get in the door, and you need an elephant’s memory to figure out there hours. When value is high, people are willing to spend a small fortune and travel to faraway places.

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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