... DATE \@ "d MMMM y" 9 April 2015 “Are idea’s such as mutualism and industrial democracy of relevance to the 21st Century business management?” The world as we know it today is in constant advancement of technology and knowledge. In result, economists have developed a myriad of theories that have shaped and changed the way we manage people, time and resources. Organisation theorists such Russell Ackoff, Warren Bennis & Chris Argyris have been advocating the need for a more ‘free-form, humanistic, and democratic organisation’ (Nodoushani & Nodoushani para. 23), whereas theorists with the names of Henry Ford and Frederick W. Taylor oppose such notions. Some theories stand true and thrive in today’s economy, while others have faded as time has progressed. However, are ideas such as mutualism and industrial democracy of relevance to the twenty first Century business management? Is there still social and economic inequality? Or do citizens have natural rights to liberty, justice and property? Perhaps these ideas may have been diminished with time? This paper argues that the business management has had a major shift in its structure due to the concepts and influences of mutualism and industrial democracy. Although these ideas may not be prevalent in its purest form, there have been major refinements in the structuring of management in twenty first century, including the focus on de-layering and a more co-operative environment. Not all economies and establishments embrace...
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...IMPORTANT ELEMENT IN THE MARKETING MIX Definition of Marketing Mix According to Philip Kotler - "Marketing Mix is the combination of four elements, called the 4P's (product, Price, Promotion, and Place), that every company has the option of adding, subtracting, or modifying in order to create a desired marketing strategy" Marketing Mix was first coined by Neil Bordon, the President of the American Marketing Association in 1953 and is referred to as the set of actions, used by a company or organisation to promote its product or service in the market. A typical Marketing Mix is made up of 4Ps – Product, Price, Promotion and Place. These 4 Ps were introduced by the marketer E. Jerome McCarthy in 1960 and since then they are being used worldwide by the marketers. Product A product is a good or service offered by the company to satisfy the demands of the consumer. Price Price is considered to be an amount charged by the seller for the product or service given to the buyer. Promotion The methods used by the marketer to bring the product into market and to create awareness among the people e.g. advertisement. Place Place is all about how the products reach its buyers for sale. A business can be profitable only when the right product with right price is made available to the right users. The Product ‘P’ is always the single most important element in the Marketing Mix Affirmative The product plays the most important role in the entire process of marketing mix. The product is...
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...INTRODUCTION 2 CRITICAL EVALUATION 3 PRE – START UP PLANNING AND PREPARATION 3 ENTREPRENEUR IN AN ORGANISATION 4 ENTREPRENEUR AS AN INDIVIDUAL 5 ENTREPRENEUR WITHIN THE SOCIETY 5 CONCLUSION 6 RECOMMENDATION 6 REFERENCES 7 ANNOTATED BIBILIOGRAPHY 8 APPENDIX 9 INTRODUCTION Various definitions have been given to the word entrepreneur, due to the changes and complexity of the world’s economic structure. Entrepreneurs have been cussed and discussed, declared to be social misfits and bastions of the private enterprise system. “An entrepreneur sees an opportunity which others do not fully recognize, to meet an unsatisfied demand or to radically improve the performance of an existing business. They have unquenchable self-belief that this opportunity can be made real through hard work, commitment and the adaptability to learn the lessons of the market along the way”.(Martin , 2010). Entrepreneurship is an act of being an entrepreneur which involves initiating in a business venture, gathering the necessary resources and assuming the associated risks and rewards. There are common traits associated with an entrepreneur, most entrepreneurs tend to: * Tolerant of ambiguous situations * Resist conformity * Enjoy risk-taking * Self-reliant, dominant and independent * Be interpersonally aloof yet socially adroit * Adapt readily to change The importance of entrepreneurship for economic development has been widely acknowledged in recent times. Entrepreneurship...
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...NBS-MC36 – Integrated Marketing Communications BY STUDENT NUMBER: 100101300 WORD COUNT: 2193 WORDS 1 Introduction Marketing communication represents the methods of communication used to announce target customers and stakeholders and persuade the potential market, to choose the company and its products (TĂLPĂU, 2014). Marketing communication has a variety of means of communication, which includes advertising, sales promotion, personal selling, direct marketing, and public relations. Customers receive diverse messages about the company and its products from different communication methods and thus, are unable to judge the accuracy of messages (Pickton and Broderick, 2005). It is a vital obstacle that customers have no accurate and impressed cognition for the company and its products. Based on the shortcoming of traditional marketing communication, the concept of integrated marketing communication (IMC) has become a popular idea in the field of marketing since 1990s (Kitchen and Schultz, 1998). The primary goal of marketing communication is to influence the customer‟s concept of value for the company and/or its products. Compared with traditional marketing communication which is a part of 4ps, IMC pay attention to the 4cs which is customer, cost, convenience and communication. Duncan (2002, p.8) defines IMC as „a cross-functional process for creating and nourishing profitable relationships with customers and other stakeholders by strategically...
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...Demographic changes are being monitored on traditional and on the existing outbound markets respectively, since these are two markets having various influence factors on the individual exogenous changes which influence development of international tourism. Recent developments in Tourism on the 21st Century Introduction Tourism is a significant economic factor of nations worldwide. Not only does this help contribute to overall economic gain, but this also enable countries to share their natural resources, gain international recognition and attract prospects for further business transactions. Despite the rise of previous tourism obstacles such as epidemic and terrorism attacks, countries from all over the world attempt to revive their tourism industry through extensive marketing and development. Indeed, the start of the 21st century witnessed various growing tourism trends that other nations followed and applied. Among these are the developments observed in global tourism’s latest visitor attractions. Thus, in this brief essay, the different tourism trends worldwide will be described. How these trends had affected the latest visitor attractions will also be discussed. Latest Trends Sports Tourism Sports in general have been an important aspect of global culture; it is in the conduction of sports where language and cultural barriers are replaced by the universal eagerness for such activities. Recently, several sports activities are being held in different countries...
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...debate on the effects of globalisation and what businesses and consumers facing them should do. This essay will outline and discuss elements of the paradigm shift of the last thirty years starting with the call for global standardisation and lowest cost orientation for the benefit of the consumer, as expressed by Levitt (1983) in his legendary article “The Globalisation of Markets”. We will then jump forward to the twenty-first century with global brands and glocalisation supported with the following articles: Holt et al (2004) “How Global Brands Compete”, Askegaard and Kjeldgaard’s (2006) “The Glocalisation of Youth Culture” and Surman’s (2009) “The Global Consumer”. Discourse around what companies operating on the global level should and shouldn’t do always ends up being centered on the consumer. What the consumer wants/needs, what they will buy and why they buy it, what implications does buying the product have for them. Levitt (1983) states that consumers are driven by the lowest price, though accounting for the importance of quality. Products are bought in the first place because of their functional benefits and ability to increase discretionary time. Companies must work under the belief that the customer doesn’t know what he/she really wants therefore such market research and customisation is pointless, inefficient and costly to company and consumer. Companies should therefore standardise wherever possible to achieve economies of scale and offer...
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...world’s leading airline management systems Prepared by: Course Number: Course Convenor: Course Lecturer: Associate Lecturer: Word Count: Due Date: Extension Approved: Joel Sinclair 2513BPS Mr B Ginn Mr D McBrien Ms P Milton 3004 4 May 2012 14 May 2012 th th i 2513BPS s2793459 Executive Summary The purpose of this report is to review the management system of Etihad Airways. The report analyses Etihad Airways and draws information, justification, and conclusions from the company documents and academic resources. The report is 3000 words, and should be considered by the reader to be a broad overview of the company. The analysis conducted considered organisation background, and how that impacted organisational culture, and structure. In addition to this, the report outlined strategic management and how Etihad Airways stands out in the aviation industry. The report found that Etihad Airways has an Islamic background, that is evident in the fact Etihad is a state- owned airline, established by royal decree in Abu Dhabi. Despite the fact traditional Islamic views were depicted in accessibility of prayer rooms and announced prayers before departures etc., Etihad Airways showed evidence that they sought to accommodate for western culture. This was reflected in the availability of alcoholic beverages and through the company’s objectives that stated; the airline seeks to reflect the best of Arabian...
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...various concepts of motivation did not work in the same manner in all countries. Hofstede based his studies on an extensive IBM database, receiving 116,000 questionnaires from IBM employees from over 70 countries, and in 20 languages. The gathering and evaluation of this study took 6 years, at the end of which, Hofstede concluded that the way people in different countries perceive and interpret their world varies along 4 dimensions. Hofstede’s model is known as the 4+1 model due to the addition of another dimension some years later. Theoretically this model appears to be effective in business context, however, after in-depth analysis, it can be seen that difficulties may arise for the international manager when trying to apply it. The first dimension, Power Distance, refers to the degree of inequality between people in both physical and educational conditions in a culture. In ‘High Power distance’ societies, the power is concentrated amongst the few highest people, of who make all the decisions. Therefore, the others in society have no choice but to obey, and carry out the decisions made. Differences in wealth and power are accepted more readily in these types of societies, a prime example of a high power distance society would be Japan. In “Low Power distance” societies, power is much more widely circulated, thus the relations amongst the people are far more egalitarian. The lower the power distance, the more the individuals wish to participate in the decision making process...
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...Introduction The chosen organisation for the purpose of this assignment is the England and Wales Cricket Board (hereafter ECB). The ECB is the governing body of cricket in both England and Wales and was created on the 1st January 1997, replacing the National Cricket Association and the Test and County Cricket Board. It has increasingly turned to commercial revenue generation to support its activities and raises revenue from the proceeds of broadcasting, sponsorship, the sale of merchandise and through the sale of tickets for International cricket fixtures hosted at venues throughout England and Wales. Hoult (2014) comments that as a result of new broadcasting deals and increasing profits, the ECB has faced increased pressure from County Clubs and the associated Test Match venues to alter its previous ticketing and test match venue selection policy. From 2017 ticketing costs and revenue will no longer be the sole responsibility of the Test venue and instead the venue and the ECB will share ticket revenue. The remainder of this essay will therefore focus on commercial revenue, notably the sale of England Team Test match tickets. It will introduce economic theories relevant to the sports market and will attempt to assess the usefulness of economic theory in analysing demand for these products. It will discuss the response made by the sport market to an increase in the price of these products and will examine strategies the ECB can use to increase its market share. ...
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...has advanced significantly and we are now seeing a massive increase in Social Media such as Twitter, Facebook and LinkedIn being used in the Business environment for many things including general business marketing and as a recruiting platform. Employers need to keep up with technology and embrace the changes in order to compete with other Businesses. The key in HR successfully keeping up with these contemporary business changes is Change Management (Massachusetts Institute of Technology MIT 2004) * Planning for change * Implementing change * Supporting continuous improvement following change According to MIT (2004) in order to successfully manage change, HR must always plan for change due to the ever changing environment. It needs to reinvent itself to develop and grow with the change. Human Resource Management comes in different national styles but none of these are ‘free from the pressures to change’ (Edward and Rees 2006 as cited by Farnham 2006). The Chartered Institute of Personnel and Development suggests that most organisations will look nothing like they did 5 – 10 years ago; in turn they will most likely look different in a few years to come. There will always be change, and thus, the ability to improve. Taylor, (2011) states that during the first decade of the...
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...Thinking... The conceptual background to strategy, marketing and planning Stephen Cashman, February 2003 This online background paper provides a review of some of the definitions, theories and concepts underpinning strategy. As such it is intended to introduce the key concepts involved, or to form an overall reminder of the various issues relating to these areas. 1. What is strategy about and why is it so important? ‘Every company needs a strategy – either explicit or implicit.’ Costas Markides (1995) ‘An effective strategic management process has become the essential norm for businesses.’ Richard Hanscombe and Philip Norman (1993) ‘Effective strategic management is the ultimate aim of all managers.’ Financial Times, 1997 ‘The survival, growth and prosperity of any organisation depends on the quality and viability of the strategy the organisation is pursuing.’ Andrew Kakabadse, Ron Ludlow and Susan Vinicombe (1988) Indeed, such is the importance attached to the subject of strategy that one commentator on the subject, Richard Whittington (1993), reports that ‘there are thirty-seven books in print with the title Strategic Management’. Similarly a leading strategy thinker, Henry Mintzberg, and his colleagues (1998) note that ‘The literature of strategic management is vast – the number of items we reviewed over the years numbers close to 2,000 – and it grows larger every day.’ However, despite the importance given to them, thinking, writing and talking about ‘strategy’-related...
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...integrated marketing communication Philip J. Kitchen and Inga Burgmann INTRODUCTION Integrated marketing communication (IMC) emerged during the late twentieth century and its importance has been growing ever since (Grove, Carlson, and Dorsch, 2002; Cornelissen, 2001; Hartley and Pickton, 1999). Owing to the impact of information technology, changes came about in the domains of marketing and marketing communications which led to the emergence of IMC (Kitchen et al., 2004a; Phelps and Johnson, 1996; Duncan and Everett, 1993). The multiplication of media, demassification of consumer markets, and the value of the Internet in today’s society are just three of the areas in which technological innovation has impacted (Pilotta et al., 2004; Peltier, Schibrowsky, and Schultz, 2003; Reid, 2003; Lawrence, Garber, and Dotson, 2002; Fill, 2001; Low, 2000; Hutton, 1996). This in turn left marketers in a challenging and competitive environment, trying to fulfil customers wants and needs while also developing long-term relationships with them. IMC can help in creating coordinated and consistent messages across various channels of communication. Furthermore, the concept is especially valuable in that it places great emphasis on the importance of all stakeholder groups and, in particular, on customer loyalty, which can only be created through strategic relationship building (Jin, 2003/2004; Cornelissen, 2000; Eagle and Kitchen, 2000; Pickton and Hartley, 1998; Miller and Rose, 1994). To date...
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...Jefferson first used the term “public relations” in 1807. In his “Seventh Address to the Congress,” he replaced the words “state of thought” with “public relations.” Unfortunately, the perception of public relations has not always been positive. In the 1800s, P.T. Barnum became a master publicist by generating article after article for his traveling circus. His “public be damned” philosophy and the use of exploitative publicity methods, however; have contributed to criticism of the profession. Another significant component to the profession’s development came from the Creel Committee during World War I. A member of the committee, Edward L. Bernays, later considered by many to be the father of public relations, was part of a massive verbal and written communications effort to gain support of the war. According to Bernays, “this was the first time in our history that information was used as a weapon of war.” There were other key people and events, which were very influential in promoting the growth of the public relations industry such as: * “Public be informed era”, Ivy Lee – “father of PR” * WWII – the Office of War Information * “Counseling era” – Edward Bernays taught the first PR course at NYU in 1923 * Bernays wife, Doris Fleischman, was influential in paving the way for women in the industry. Together, they created Edward L. Bernays, Counsel on Public Relations, which became a top agency. Some of the top PR practitioners in the 20th Century, according...
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...UNIT 14 Research INTERNATIONAL MARKETING RESEARCH Objectives After going through this unit you should he able to • explain the global marketing research scenario • • • • • explain the scope of international marketing research describe the procedure for undertaking international marketing research describe the techniques available for international marketing research plan a field research describe the techniques available for interview • identify and explain the various steps in analysis of field data and preparation of research report Structure 14.1 Introduction 14.2 Marketing Research : The Global Scene 14.3 The Scope of International Marketing Research 14.4 International Marketing Research Procedure 14.5 Techniques of International Marketing Research 14.6 Survey Research 14.7 Techniques of Interviewing 14.8 Analysis of Field Data 14.9 Preparation of Research Report 14.10 Summary 14.11 Self-assessment Questions 14.12 Further Rea dings 14.1 INTRODUCTION In international marketing, the marketer is faced with a dilemma of having too much data and too little information. There is plenty of global data from sources like the World Bank and other international bodies, but often a lack of specific information on countries and markets. In helping to reduce uncertainty around decision-making, precise information is the key. Whilst searching for opportunities globally, uncertainties arise due to four main factors:...
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...managing people ● outline the range of activities with which practitioners of human resource management are likely to be involved ● demonstrate how human resource management can make a difference by adding value to an organisation ● outline some of the current issues facing HR managers. HRM? What’s it all about? This book is designed as an introductory text for students studying human resource management (HRM) either with a view to becoming HR specialists themselves, or for those who are starting or hoping to start a career in management. As you will discover, people management forms a large part of every manager’s job, whether they work in a large multinational organisation, a not for profit organisation or a small charity. Organisations also increasingly aim for all employees to be motivated and involved, so an understanding of the subject is important for everyone. As stated in the preface, we intend that you should become actively involved in your own learning as you progress through the book. Even though you are just beginning this subject, you may already have ideas about some of the topics that you are about to study and you may even have a general idea of the role and functions of the human resource management or personnel department in an organisation. Your ideas may not all be right but, after all, that is why you are studying the subject. Many students talk of studying HRM because they would ‘like to work with people,’ and they seem to think of human resource management...
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