...Industrial Marketing V/S Consumer Marketing Promotion: In the case of mass distributed consumer goods, advertising performs a large apart of the sales job. But in the case of industrial goods it is the personal selling that carries the main burden of persuading customers to buy. The reasons for this may be mainly due to the following factors : a) Need for providing technical information about the product. b) Customers to be contracted are fewer in number. c) The channels of distribution involved are shorter. d) Necessity for a direct contract between producer and user especially for rendering 'pre-sales' and 'after-sales' services. Personal Salesmanship is,therefore, highly needed in the industrial goods market. Whether it is the selling of raw materials or supplies or selling the capital equipments, the services of an efficient an trained salesman are inevitable. He must have technical knowledge of his customer's production processes. He should also have the ability to convince the customers of the savings resulting form the purchase of the equipment he wants to sell. It is also his duty to install the machinery and prove its worth through 'trial running'. The nature of the salesman's job is dependent on the buying situation. 1. Whether the customer is buying the product for the first time, 2. Whether the customer is changing to a new source of supply (Here, the customer is in a position to weigh the merits and demerits of the new machines against the previous...
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...Which impression did the international sales manager make on the purchasing manager? Since the Singaporean was send by the company, he didn’t search for any cultural and business behavior of Swedish, so first he decided to ask for an advisement in how he should behave at the moment of his presentation. Some how he has a clear vision on how he could make it, even do, he didn’t focus in all the points he should take care, but what really stress the decision of the purchasing manager to decide to don’t be part of the purchase was the lack of knowledge of the Singaporean that didn’t take the time of investigate of basic information of the Swedish history or the unselfishness attitude of the sales manager of knowing a little of the Swedish culture. What could the international sales manager have done to avoid the cultural clash? In the case of the international sales manager, he could basically read more about the culture and behavior of Sweden also he could easily be more polite and ask for more information instead of been selfish and doesn’t show more interest of what people want to tell. What could the local purchasing manager have done to avoid the cultural clash? He could easily notice that the sales manager wasn’t prepared since he arrived in the way more Swedish make business, he could ask for someone more prepared or trying to be more polite and ask if the person didn’t want to know about what he was trying to...
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...The 21st century Manager The 21st century sustainability leadership is about courage, creativity and faith in people. It is a values-based leadership. Sustainability opportunities and challenges are so complex, both of global scale and yet deeply rooted in people's cultures and beliefs, that tomorrow's leaders will need four core qualities to achieve success: • systems thinking to identify paradigms driving change • mediation skills to facilitate knowledge sharing, ensure stakeholders' ownership and foster innovation • vision rooted in community service and ethical behaviour • decisiveness in ever changing environments with blurred boundaries The 21st century leadership is about leading with the heart and to serve rather than rule. A sustainability leader of the 21st century has to have the ability to create a meaningful context out of the existing sustainability landscape. Sustainability is a broad notion that encompasses all aspects of our lives from economic to social and environmental actions. A number of ways to promote sustainability is infinite, and this vague plethora of contents is often the source of difficulty in raising awareness and participation in the movement toward sustainable future. It is therefore important for future leaders to recognise and provide innovative, sensitive, and meaningful sustainability possibilities. As an entrepreneur, leadership is the most important part of your job. But in a constantly changing business climate, you...
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...Naquitta Simon Bus 1101 0600 Professor Maneri Assignment #1 June 9, 2016 “The Changing Face of Business” 1. Business is important to a country’s economy because it provides the means through which its citizens’ standard of living improves. At the heart of every business endeavor is an exchange between a buyer and a seller. A buyer recognizes a need for a good or service and trades money with a seller to obtain that product. The seller participates in the process in hopes of gaining profits—a main ingredient in accomplishing the goals necessary for continuous improvement in the standard of living. 2. Non-profit organizations are a substantial part of the U.S. economy they control more than $2.6 trillion in assets and employ more people than the federal government and all 50 state government combined.3 In addition, millions of volunteers work for them in unpaid positions. Not-for-profits secure funding from both private sources, including donations, and government sources. They are commonly exempt from federal, state, and local taxes. Without funding, they cannot do research, obtain raw materials, or provide services. 4. Private enterprise system: economic system that rewards firms for their ability to identify and serve the needs and demands of customers. Basic Rights in the Private Enterprise System: capitalism to operate effectively, the citizens of a private enterprise economy must have certain rights. These include the rights to private property...
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...production system. • A production system takes inputs and converts them into outputs. • The conversion process is the predominant activity of a production system. • The primary concern of an operations manager is the activities of the conversion process. 2 Organizational Model Finance Sales HRM POM Marketing QA Engineering MIS Accounting 3 Organization Chart-Major Elements Manufacturing Organization Operations Finance/Accounting Disbursements & Credits Funds Management Capital Requirements Marketing Sales Promotion Advertising Sales Market Research Facilities Production & Inventory ontrol Quality Assurance & Control Procurement Engineering Design Industrial Engineering Process Engineering Entry-Level Jobs in POM • Purchasing planner/buyer • Production (or operations) supervisor • Production (or operations) scheduler/controller • Production (or operations) analyst • Inventory analyst • Quality specialist 5 Historical Milestones in POM • • • • • • The Industrial Revolution Post-Civil War Period Scientific Management Human Relations and Behaviorism Operations Research The Service Revolution 6 The Industrial Revolution • The industrial revolution developed in England in the 1700s. • The steam engine, invented by James Watt in 1764, largely replaced human and water power for factories. • Adam Smith’s The Wealth of Nations in 1776 touted the economic benefits of the specialization of labor. • Thus the late-1700s factories had not only machine...
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...perceived contribution to decentralized job creation and generation of output. SMEs constitute the dominant source of industrial employment in Bangladesh (80%), and about 90% of the industrial units fall into this category. The actual performance of SMEs, however, varies depending on the relative economic efficiency, the macro-economic policy environment and the specific promotion policies pursued for their benefit. For the JOBS Program, Zaid Bakht (1998) and Salahuddin Ahmad, et al. (1998) developed research papers that describe the policy environment within which SMEs in Bangladesh operate. The reports also discuss the accompanying legal, regulatory and administrative constraints to employment creation by SMEs. This paper attempts to highlight the findings of those two studies. To complement the issues discussed in those two papers, a summary of industrial problems, as perceived by entrepreneurs during the past one decade (HIID, 1988; MCCI 1992; World Bank 1994; JOBS 1998), is also presented in this report. In Bangladesh, SMEs playing a significant role for the development of our economy by creating employment opportunity and producing important alternative machines and machinery parts for saving huge foreign currency for our country. So as a part of our development strategy, we should intensify our efforts to develop this sector to grow industrial base and volume of foreign trade. As we know that in this age of globalization, it is impossible to stop the flow of foreign...
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...The impacts of the ongoing global recession The impacts of the ongoing global recession on domestic industrialisation, already at a near standstill, have hurt the growth of the Tk 2,000 crore local wire and cable industry, market players said. Power sector and industrial units are the two major consumers of the locally produced cables followed by households. “We are facing a shortage of adequate buyers, particularly with power and industrial ones,” said Fardaws Alam, chief financial officer of Poly Cables, one of the fastest growing cable manufacturers in the country. “Our sales came down by around 60 percent in the January-April period of this year compared to the same period last year,” said Azizur Rahman, chairman of Aziz Cables. Rahman blamed this downtrend on the negative impacts of the global financial crisis. “We are still doing good in power cable sales because we have some supply contracts in our hands,” said Mohammad Enamullah, business development manager of Paradise Cables, one of the largest wire and cable makers in the country. Now the global and domestic gloomy economic situation is a cause for concern for us, he added. Bangladesh had to depend on imported cables until the late 1980s. But the situation has started changing rapidly since 1990s when a good number of companies entered the market, industry people said. Now around 50 companies are engaged in wire and cable manufacturing and meeting the rising domestic demand. Of those companies...
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...INDUSTRIAL DESIGN Product Design Industrial design is the use of both applied art and science to create and develop products that benefit both the user and manufacture. Industrial designers also known as Product designers prepare drawings and illustrations of products that assist in the decision making process. Once the decisions have been made they then prepare the models or prototypes to be demonstrated or tested. However products such as textiles and furniture have designers who specialise in their development. From original idea to final product there is a long and involved process even for something as simple as a small home appliance. A large amount of development time is required to design a product that is marketing success. Industrial designers Paul Taylor and Gerry Mussett designed the Axis kettle in 1993. Although Gerry Musset explains how Kambrook and The Key Centre for Design were involved in the concept development and models he left the project when it got to the production drawing stage. Kambrook then took over the kettle’s production. The Axis kettle is designed for all demographics with safe, convenient everyday use, easy to pick up, cordless electrical connection, at affordable prices. Constructed mostly of stainless steal or plastic materials. In time researchers observed that kettles were often over filled and that users would typically boil a kettle and walk away only to return and boil it again. To try and prevent this from happening the...
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...when expenses are higher than revenues. Value is the relationship between the price of a product or service and the benefit that it offers its customers. To be successful, entrepreneurs must be comfortable risking their money and time to start and manage a business. The five distinct eras of American business are: * The Industrial Revolution * The Entrepreneurial Era * The Production Era * The Marketing Era * The Relationship Era Entrepreneurs create benefits for others while seeking profit for themselves. Successful U.S. firms embrace change. Huge factories replaced skilled artisan workshops during the Industrial Revolution. Factory production boomed as mass production took hold during the Industrial Revolution. During the production era, jobs became even more specialized and the cost of goods became lower. The marketing era introduced the marketing concept. The relationship era introduced the idea that cultivating current customers is more profitable than constantly seeking new ones. The hard sell aggressive persuasion designed to separate consumers from their cash emerged during the production era. During the marketing era consumers found more choices for goods and services. Nonprofit organizations are not in the business of financial gain. Nonprofit organizations contribute to our region’s economic stability and growth by employing approximately one in ten workers nationwide. Nonprofit organizations are commonly known for supporting the arts...
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...Questions 1. What do you understand by the term ‘Operations Management’? ANS: ✓ Operations Management is the management of that part of an organization that is responsible for producing goods and/or services. The management of systems or processes that create goods and/or provide services. i.e. Every book you read, every e-mail you send or every medical treatment you receive involves the operation function of one or more organizations 2. Identify the three major functional areas of business organizations and briefly describe how they interrelate. ANS: ✓ Finance- is responsible for securing financial resources at favourable prices as well as analysing investment proposal and providing funds for marketing and operations. ✓ Marketing is responsible for assessing consumer needs or wants and selling and promoting the organization’s goods and services. ✓ Operations is responsible for producing the goods or providing the services offered by the organization. 3. Describe the nature of operations function. ✓ ANS: The operations function consists of all activities that directly related to producing goods or providing services. It is the core of most business organizations because it is responsible for the creation of organization’s goods or services. Its essence is to add value during the transformation process. The operations function involves the conversion of inputs into outputs. In other words, this process (value added) is the difference...
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...Chapter 17 The Industrial Revolution Learning Outcomes After reading this chapter, you should be able to do the following: 17-1 Describe and discuss the development of the Industrial Revolution in America after the Civil War, concentrating on the major industries and their leaders. 17-2 Describe how America’s regional and local markets merged into one truly national market and how this influenced the consumer demand for products and services, as well as some of the costs associated with the transition. 17-3 Discuss the functioning of national, state, and local politics during the late 1800s. 17-4 Describe the formation of the early labor unions in the United States, including their goals, activities, and situations at the end of the nineteenth century. 290 C h apt e r 15 The Continued Move West “ The world that had consisted of small farms, artisans’ workshops, and small factories transformed into a full-scale industrial society. ” As the process of ensuring political, economic, and social rights of African Americans waned during the 1870s, most Americans turned their attenNo invention had more lasting impact than the incandestion to another transformation cent light bulb. brought on by the Civil War: the Strongly Disagree Strongly Agree Industrial Revolution. During 1 2 3 4 5 6 7 the half-century between 1865 and 1915, the United States evolved from a relative...
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...What are the main advantage and disadvantages of forming an industrial cluster? The main advantages of Industrial cluster are : ● Industry clusters provide production and marketing cost savings to member firms, such as, lower labor costs from sharing a labor pool. ● Industry clusters provide enhanced opportunities for cluster firms to focus on fewer activities and to adopt new production technologies and organizations ● Industry clusters facilitate the development of links, cooperation, and collaboration among area firms, that is, clustering stimulates networking. ● Industry clusters allow communities to focus industrial development programs on the needs of specific industries. * Information spillovers : enterprise can easily learn from other enterprises * Division of labor: they can easily transact intermediate goods and service with each other * Formation of market for special skills : they can easily find workers with desired skills (and such workers can easily find jobs) * Industrial clusters can attract customers * Industrial clusters can attract material suppliers Shortcomings to Industrial Cluster . The principal shortcoming inherent in following such a strategy is that the likelihood of success, for many rural communities, will be small. Industry clusters are difficult to establish for three reasons: ● Communities will have difficulty identifying clusters that best fit their local economies ...
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...Mexican personnel, both managers and technicians, into your organization. These people will have Mexican supervisors, but until the mission is accomplished, they also will report to you. I will have to admit that you are going to have some complex authority relationships, especially as you personally will be responsible to the president of the subsidiary, Felix Delgado, as well as to me.” Conway began to make his plans for the project team. The plant building was available and empty in Mexico City, and it was important to get equipment purchased and installed as soon as possible. A plant layout would have to be prepared, but before that could be done there would have to be a manufacturing plan. Therefore, he needed to recruit an industrial engineer, a production planner, and an equipment buyer. They, in turn, would have to build their own staffs....
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...Studio Learning Task 1 – What is Design? Q1. What was the industrial revolution? When did it occur? How did industrialisation lead to the creation of the design profession? How was industrial manufacturing different from the traditional way of making a product and what role did the designer play in creating new products? The industrial revolution, which began in England around the 19th century, was the transition of a once rural and agricultural society into one in which new manufacturing processes were introduced. Industrialisation gave way to more jobs, and with products beginning to be produced in factories or with more advanced equipment, it meant that the product design and the actual production were no longer done by the same person. Q2. Explain what series and mass production means. What other factors over time have contributed to the high turnover and international sales of manufactured products? Mass production, or otherwise known as series production, is the manufacturing of a product in bulk. Mass production reduces wasted resources and shortens the amount of time needed to produce the product as it generally utilizes an assembly line. Q3 Using your own words, explain the meaning of the term “form follows function” and its significance. The supporters of Modernist design and functionalism assumed two things about form follows function. What were they? What do you understand by the meaning of each of these? Explain in your own words. Form follows function...
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...States were economy, immigration, and the abolishment of slavery. ). The industrialized society of America produced tons of jobs, urbanization, and an influx of immigration from southern and eastern Europeans. Due to innovative and aggressive entrepreneurs, it left wide gaps between the rich and the poor, black and white, immigrants and natives (Schultz, 2014, chapter 17). A group of innovative and aggressive entrepreneurs became the catalyst for the growth of the U.S. economy. After the Civil War, American material output increased dramatically, and big businesses extended their reach deeper into American life. Together, these events revolutionized the way Americans lived, no matter which region (Schultz, 2014, , chapter 17). The industrial revolution caused the main energy resources to shift from animals and human labor to large machines. Schulz eloquently relayed; “Businessmen between 1865 and 1915 used continuing technological breakthroughs and creative financing to bring greater efficiency to their businesses, which dramatically expanded their markets and their ability to produce goods. The effects of this transformation were felt outside the business world, resulting in two key...
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