Global Marketing Place


Several factors have forced countries to extend their economic views to events outside their own national borders. First, international agreements are being negotiated in attempt to increase trade among nations. Second, the growth of electronic commerce and related computer technologies brings previously isolated countries into their marketplace for buyers and sellers around the globe. Third, the interdependence of the world’s economies is a reality since no nation produces all of the raw material and finished goods purchased by its citizens or consumers of all its output without some exporting to other countries. Evidence of this interdependence is illustrated by the introduction of the Euro as a common currency to facilitate trade among the nations of the European Union and the creation of trade alliances.

Service firms also play a major role in today’s global marketplace. In many cases, global marketing strategies are almost identical to those used in domestic markets. Rather than creating a different promotional campaign for each country, marketers use the same ad with spectacular results.

Domestic marketing strategies may need significant changes to adapt to unique tastes or different cultural and legal requirements abroad. It is often difficult to standardize a brand name on a global basis.

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.

Advertisements

Termination of Employees


Most employees are hired for an indefinite period. If no length of employment is agreed upon, employment is “at will.” This means that an employer can discharge such an employee at any time for any reason or without giving any reason. Unions generally negotiate a change in this rule for the employees they represent. Most union contracts contain a clause that permits discharge only for good cause.

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-Related Attitudes


Attitudes are an important consideration for managers. Employee attitudes may be related to behaviors critical to the organization: dissatisfied employees. Negative attitudes towards the organization can also spur employees to consider forming or joining a labor union. Theory and research on attitudes can help managers understand employee attitudes toward the workplace. In general, employees develop consistent and identifiable sets of attitudes toward job attributes, such as pay, working conditions, and the job’s tasks.

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.

Pressure Groups


Big businesses, big labor, and big government are giants on the economic scene. As a pressure group or interest group, each tries to achieve its own objectives. And of course the major objective of a business is to earn profits. Some are more successful than others. To become and stay successful, big businesses employ full time representatives to fight for and protect their interests with government and consumers alike.

Labor is big too. The pressuring power of unions  is evidenced by such accomplishments as minimum wage laws and 40-hour work weeks. Big government now employs large share of all workers in its agencies, departments, and programs. Pressure from government is felt through such actions as taxes, environmental protection laws, and anti-trust legislation.

There is a wide variety of other types of pressure groups such as the media, professional organizations, neighborhood organizations, and dissident stockholder groups. Large and small pressure groups work vigorously to influence business, labor, and government in directions favorable to their own interests.

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.

Fringe Benefits


Fringe benefits are any benefits received by employees in addition to their regular pay. They include paid vacation, sick leave, welfare programs, and health and life insurance. The cost of fringe benefits is increasing much more rapidly than wages. One fringe benefit that unions have been stressing recently is the pension. Pension funds are certainly not small.

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.

Collective Bargaining


Collective bargaining is the process by which representatives of labor and management negotiate an agreement governing pay scales and terms of work. The negotiations leading to a labor contract are often time consuming, difficult, and heated. A contract between a large union and an industry is of considerable economic consequence, involving thousands of workers and billions of dollars in wages.

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.

Pure Competition


The term competition is used ambiguously not only in ordinary conversation but in economic literature as well. Its common meaning is rivalry, but in economics when used along with the word pure, it carries a different meaning. Following are necessary conditions for pure competition:

  1. Homogeneity of the product: For competition to exist in a market all sellers of the product being exchanged sell homogeneous units of the product, or at least the buyers of that product believe that this is so.
  2. Smallness of each buyer or seller relative to the market: Each buyer and each seller of the product under consideration is too small in relation to the entire market for the product to influence significantly the price of the product that is being bought or sold.
  3. Absence of artificial restraints: There are no artificial restrictions on the demands for, the supplies of, and the prices of whatever is being exchanged. No government price fixing nor any institutional fixing or administering of price by producers’ associations, labor unions, or other private agencies. There is no supply restriction enforced by the government or by organized producer groups. Control of demand through governmental rationing is nonexistent.
  4. Mobility: There is mobility of goods and services of resources in the economy. New firms are free to enter any desired industry, and resources are free to move among alternative uses to those where they desire employment. Sellers are able to dispose of their goods and services where the price is highest. Resources are able to secure employment in their highest paid uses.

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.

Previous Older Entries