There are six functions that you have to do efficiently. Many things have to be considered when running an organization; you have to take care of your staff, produce a quality product, and have impeccable customer service. Each step is just as important as the other, if you don’t do one function properly you may affect other functions in your company.
The first of the six key functions of business is financial records and management. It is first important to first define financial planning and financial management. Financial planning is the planning for the future of a business to ensure there will be positive cash flow in the years to come. Financial management is when a business monitors its cash flow to ensure the continuation of the business’s operations is as effective and efficient as possible.
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Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large (Hair & Lamb, 2013). It is important to understand how to get the product to the customer, and how to communicate to your customers information about your company. With that being said, first you must come up with a marketing concept which is the idea that the social and economic justification for an organization’s existence is the satisfaction of customer wants and needs while meeting organizational objectives (Hair & Lamb, 2013). Marketing includes transportation, social media, pricing points, and many other things.
The next key function is office management. The planning, controlling, and organizing of office work, this is many times delegated to an administrative manager. These responsibilities include things like payroll, human resources, and ensuring that your staff has a safe and productive environment to work in. This is often a process that is overlooked but it is just as key as any of the other
(A) Marketing- the management process through which goods and services move from concept to the customer. The main purpose is to increase sales of the project and profits of the company.
Marketing is the process of appealing potential buyers to products or services. Marketing is a two-way process that aims at achieving mutually beneficial sales
Marketing in a lay man's language is about matching the needs of your target market to what your business is offering in the right place, with the right price and at the right time. It is not possible for the business to get close to the customer without good marketing. Good marketing will involve a good understanding of the target customer and tailoring of your product and services to meet their need. This is then communicated through your marketing efforts. Selling ensures the offering is translated to paying customers.
Marketing is that broad area of business activity that directs the flow of services provided by the carrier to the customer in order to satisfy customers’ needs and wants and to achieve company objectives. Marketing is more than selling: it involves a number of business activities, including forecasting, market research and analysis, product research and development, price setting, and promotion, including advertising. Marketing also involves the finance activities such as credit and collection that are associated with ticket sales. Marketing is customer oriented…Without marketing and sales, there would be no airlines. (p. 274)
The first function of management is planning. "Planning is systematically making decisions about the goals and activities that an individual, a group, a work unit, or overall organization will pursue." (Bateman & Snell) In my organization, planning takes up the most time. Objectives must be laid out, potential products must be examined and the timing and type of marketing must all be planned out before we provide our product to our customers. This function should be first and foremost to all individuals involved in the organization. Poor planning will result in your organizations demise.
Drive the company to achieve and surpass sales, profitability, cash flow, revenue and business goals and objectives.
Develop and/or track indicators that measure key activities 2. Assist in establishing internal management standards in addition to SOPs 3. Ensure quality of service and quality controls 4. Offer recommendations for change wherever appropriate 5. Provide an opportunity for staff to raise any matters of professional concern 6.
Marketing In this day and age is vital for a company to perform at its possible best. Marketing’s main focus is to give great satisfaction to a customer. There are many aspect of marketing, these aspects give marketer’s the tools to help strive for the best possible success they can achieve. They hope that they can create exposure for their brand, product or service.
What do you understand by the phrase “stakeholder analysis”? Attempt a stakeholder analysis of an organisation that you are closely associated with.
Marketing is very important to the success of a business. Before people can buy a product or service they have to know about it. However, marketing entails more than just letting people know what your company has to offer. Throughout this paper, I will define marketing, offering my personal definition as well as more formal definitions from other sources. Furthermore, I will explain to the reader the importance of marketing to organizational success giving real world examples in support of this explanation. The field of marketing can include many things. I believe, however, the most important thing which it should include is communication with customers as to the value and benefits of using that particular company's products and services. It should help to establish the business's niche in the industry and distinguish it from other such businesses.
Every company depends on an efficient marketing program to fulfill customers' needs. Marketing is a process of finding out what the customer wants and meeting those requirements. Within the company, the marketing group has to consider customer values and customer satisfaction before considering offering a product. Marketing is part of our everyday world, and can be perceived everywhere and every time. At any time, everyone has been exposed to different kinds of marketing or advertising depending upon personal necessities such as T.V commercials, radio, internet, etc.
This paper examines the strategic management sector pertaining to financial planning and decision making methods. Managers use these tools often, in order to carry on day to day operations at their firms. Finding the right combinations of cost allocation and implementing strategic measures, can be complex at times. However, to remain competitive in the industry, companies utilize benchmarking and other techniques in order to monitor their competitors’. This paper analyzes various approaches that managers may use, in order to make sound financial planning and decision making.
According to Kotler (2012), Marketing is about identifying and meeting human social needs, thus it is not only about advertising and promotion it is more than this. It includes setting competitive price, communicating effectively with potential and existing customers and also introduction of new products.
It is not secret that marketing plays one of the key roles of a successful business. As Phillip Kotler said: “Marketing is the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires. It defines, measures and quantifies the size of the identified market and the profit potential”. Simply stated, marketing is everything you do to place your product or service in the hands of a potential customer.
As shown in Figure 1 there are many different definitions for Marketing. The key is that they all share a common theme, marketing is: “Meeting the needs and wants and providing benefits for customers.”