Constitution of Service Sector


Service sector comprises following services:

Lodging Services

Hotels, rooming houses, and other lodging places

Sporting and recreation camps

Trailering parks and camp sites for transients

Personal Services

Laundries

Childcare

Linen supply

Shoe repair

Diaper service

Funeral homes

Carpet cleaning

Tax preparation

Photographic studios

Beauty shops

Health clubs

Business Services

Accounting

Exterminating

Agencies

Employment agencies

Collection agencies

Computer programming

Commercial photography

R&D labs

Commercial art

Secretarial services

Management services

Window cleaning

Public relations

Consulting

Detective agencies

Equipment rental

Interior design

Automotive Repair Services and Garages

Auto rental

Tire retreading

Truck rental

Exhaust system shops

Parking lots

Car washes

Paint shops

Transmission repair

Motion Picture Industry

Production

Theaters

Distribution

Drive-ins

Amusement and Recreation Services

Dance halls

Race tracks

Orchestras

Golf courses

Pool halls

Amusement parks

Carnivals

Fairs

Ice-skating rinks

Botanical gardens

Circuses

Swimming pools

Health Services

Physicians

Nursery care

Dentists

Medical labs

Chiropractors

Dental labs

Legal Services

Educational Services

Libraries

Correspondence schools

Schools

Data processing schools

Social Services

Child care

Family services

Job training

Non-commercial Museums, Art Galleries, and Botanical & Zoological Gardens

Selected Membership Organizations

Business associations

Civic associations

Financial Services

Banking

Investment firms

Insurance

Real estate agencies

Miscellaneous Repair Services

Radio and television

Welding

Watch

Sharpening

Reuphoistery

Septic tank cleaning

Architectural

Surveying

Engineering

Utilities

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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The Seedbeds of Managers


Good managers are not born; they are made. An organization acquires managers in three ways: promoting employees from within, hiring managers from other organizations, and hiring managers graduating from universities.

Promoting people within the organization into management positions tends to increase motivation by showing employees that those who work hard and are competent can advance in the company. Internal promotion also provides managers who are already familiar with the company’s goals and problems. Promoting from within , however, can lead to problems: it may limit innovation. The new manager may continue the practices and policies of previous managers. Thus, it is vital for companies—even companies committed to promotion from within—to hire outside people from time to time to bring new ideas into the organizations.

Finding managers with the skills, knowledge and experience required to run an organization or department is sometimes is difficult. Specialized executive employment agencies—sometimes called headhunters, recruiting managers, or executive search firms—can help locate candidates from other companies. The downside is that even though outside people can bring fresh ideas to a company, hiring them may cause resentment among existing employees as well as involve greater expense in relocating an individual to another city.

Schools and universities provide a large pool of potential managers, and entry level applicants can be screened for their developmental potential. People with specialized management skills are specially good candidates. Some companies offer special training programs for potential managers just graduating from college.

When exposed to advertising, the consumer is not merely drawing information from the ad but is actively involved in assigning meaning to the advertised product.

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.

 

Benefits of Teams


Teams are becoming far more common as businesses strive to enhance productivity and global competitiveness. In general, teams have the benefit of being able to pool members’ knowledge and skills and make greater use of them than can individuals working alone. Teams can also create more solutions to problems than can individuals. Furthermore, team participation enhances employee acceptance of, understanding of, and commitment to team goals. Teams motivate workers by providing internal rewards in the form of an enhanced sense of accomplishment for employees as they achieve more, and external rewards in the form of praise and certain perks. Consequently, they can help get workers more involved. They can help companies by more innovative, and they can boost productivity and cut 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.

Mergers and Acquisitions


Regardless of what form a business takes—be it a sole proprietorship, partnership, or a corporation—the chances are reasonably good that its form will evolve over time. Companies of all sizes and types achieve a variety of objectives by merging, dividing, and restructuring. The terms most often used to describe all of this activity are mergers, acquisitions, and leveraged buyouts. The difference between a merger and an acquisition is fairly technical, having to do with how the financial transaction is structured. Basically, in a merger, two or more companies combine to create a new company by pooling their interests. In an acquisition, one company buys another company (or parts of another company) and emerges as the controlling corporation. The flip side of an acquisition is a divestiture, in which one company sells a portion of its business to another company. In leveraged buyouts one or more individuals purchase the company (or a division of the company) with borrowed funds, using the assets of the company they’re buying to secure (or guarantee repayment of) the loan. The loans are then repaid out of the company’s earnings, through the sale of assets, or with stock. Leveraged buyouts do not always work.

Mergers and acquisitions represent relatively radical ways in which companies are combined. On a more modest scale, businesses often join forces in alliances to accomplish specific purpose. In a joint venture, two or more companies combine forces to work on a project. The joint venture may be dissolved fairly quickly if the project is limited in scope, or it may endure for many years.

A consortium is similar to a joint venture, but it involves the combined efforts of several companies. Cooperatives also serve as a vehicle for joint activities. In a cooperative, a group of people or small companies with common goals work collectively to obtain greater bargaining power and to benefit from economies of scale. Like large companies, these cooperatives can buy and sell things in quantity; but instead of distributing a share of the profits to stockholders, cooperatives divide all profits among their members.

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.

Marketing as an Information Function


Good information is a facilitator of successful marketing and indeed, seen in this light marketing management becomes first and foremost an information processing activity. The argument that information processing should be seen as the fifth ‘P’ in the marketing mix is based on a view of marketing as a ‘boundary-spanning’ activity, i.e., acting as the interface between the core of the organization and the marketing environment. Indeed, it has been argued that it is a largely through carrying out this boundary-spanning role, i.e., absorbing environmental uncertainty and interpretting the market environment for the rest of the organization, that market gains influence in strategic decision making. This involves, in essence, creating from the pool of information that the marketing environment represents a picture of the world which enables others in the organization to forecast, plan and make decisions. At its simplest, if the marketing department (or, it should be noted, some other subunit in the organization) does not convert the uncertainty of the marketing environment into a sales forecast, there is no basis for planning production, personnel requirements or the financing of operations.

 In this sense, the management of critical types of marketing information is at the very center of the status of marketing management and the implementation of the marketing concept in an organization.

 In these terms, the challenge to marketing executives is not simply to adopt the latest information technology but to actively manage the process of ‘environmental enactment’ in their organizations. The practical side of this argument is that marketing information is concerned with creating a picture of the marketplace for people in the organization which they will use in making the decisions. This picture is likely to be highly imperfect, but it provides a frame of reference for decision making. In this sense there are few imperatives more urgent for marketing executives, when for most organizations so much depends on their ability to understand and respond to demands for service, quality and responsiveness to the market.

 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, Line of Sight

Customer Value Checklist


  1. What are your current and targetted CR rates?
  2. Given your current defection rate, how often must you replenish your customer pool?
  3. Has your CR rate increased during the past 3 years?
  4. What is the lifetime value (LTV) of a customer?
  5. What is the cost of a lost customer?
  6. What percentage of your marketing budget is spent on customer-retention activities?
  7. On average, how much do you spend on current customers annually?
  8. What criteria does your company use for developing targetted retention programs by market segment?
  9. Do you invest more on high-value (A) customers?
  10. How does your firm use recency, frequency, and monetary value (RFM) 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 contact www.asifjmir.com, Line of Sight

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