Marketing Versus Supply Chain Management In the business field, there are many career paths that you can choose after you have attained your education. To best select potential options for careers, I have narrowed them down to Marketing and Supply Chain Management to show the differences and similarities between both careers. Supply Chain Management deals with sourcing raw materials to manufacturing goods, delivering the products, and the point of sale (BusinessDictionary.com). While marketing is where the company targets their audience to specific products to increase their revenues. These professions have a high demand outlook within the business world.
The assumption was that staff would work more productively if management offered intrinsic rewards (motivators in Herzberg's terms as well as extrinsic ones (Herzberg's hygiene factors), leading to ideas about job enrichment. (Boddy 2010 page 471). The John Lewis Partnership has changed over the past century, owing a proportion of success to it... ... middle of paper ... ... increasing levels of ability should be given increasing levels of responsibility. (Boddy page 464). Herzberg suggest that organisations can utilise three important methods to increase the motivational factors which are job enlargement, job enrichment and job rotation.
Gain Sharing Employers are often faced with the challenge of looking for ways to boost productivity and profitability while at the same time, motivating employees to accomplish organizational goals. For many employers, variable pay plans have risen to meet this challenge. A variable pay plan ties pay increases to increased performance and productivity. One of the more popular group variable pay plans is called gain sharing. Under gain sharing pay programs, both the employer and the employee benefit from increased productivity.
Increasing the sales In these sales-oriented pricing objectives, knowledge gained from experience curve is put to some good use in predicting a strategy that's capable of decreasing long-term costs while ensuring a long-run profit, by increasing the number of units sold. For this purpose, companies may alter the prices or even whole pricing policies to improve their chances of getting a greater number of sales. Furthermore, brands can use the objective for the purpose of increasing the market shares also, which is a measure of the sales comparison with another brand's or in the whole industry. Aside from achieving a definite target of market share, companies can also use pricing to boost up their shares. Since, greater the price (to an appropriate level), greater are the chances to a larger proportion.
The main objective of any individual or group going into business is to make profit. Their profit is the difference between the cost of providing the good or service and the actual cost to the consumer. As more companies venture into the same line of business the competition for customers gets intense thus bringing into play the law of supply and demand. Oversupply of a good or service pushes the price consumer has to pay down. These forces have pushed managers and business strategists into the search for ways to increase the bottom line while reducing cost of good or service delivery.
We can help developing, supervising and executing your Marketing Strategies, whether through dealing with your Marketing Department or through assigning persons from our company. Why we execute, or supervise for you? Because today’s economic realities have put a tremendous amount of pressure on the Marketing Departments to do more with less staff and budget. Marketing is the core of the company’s activities and strategies in today’s high competitive market. In the coming years, due to globalization, competition will boost, professional companies will achieve additional success and economical pressure will become very high.
The stakeholders use the accounting information and interpret it to determine the company’s potential for profits and success, so the company depends on these stakeholders (Edmonds, McNair, Olds, & Tsay, 2012). There are some companies that exist to aid humanity and not to make a profit. Although these... ... middle of paper ... ... p. 374). Managerial accounting, like most things in business, is forever evolving. In order for a company to stay competitive they need to keep up with the new trends in their industry.
It should also minimize the hierarchical levels. Employees must be given a financial stake in the company and finally, a new leader; preferably a professional manager should be hired. But there are also studies that have examined the financial consequences of growth. Some have carried on the relationship between growth and profitability. It has been observed that over the growth of a company, its profits grow to a point where it peaked.
Organizational Motivation Plan The internal power of humankind that drives him towards performance in the organization is motivation. Motivation is demonstrated and measured by a number of theories and these explain the reasons why people behave in a certain way. As mentioned before, clever management does not simply outsource or cut back the workforce, but seeks other, more successful ways to increase the workforce productivity by analyzing and choosing better approaches. The best incentive Organization plan to achieve high job satisfaction, hi... ... middle of paper ... ...ure, distribute and serve goods and services can lower the costs and increase the profits. Employees need to be trained on how to successfully utilize to achieve given tasks in a timely matter with expected outcomes.
Managing employee pay increases can involve a variety of immeasurable strategies that almost will certainly vary from organization to organization. Some companies believe establishing a budget to manage increased wages put the organization in control of the operating expenses and can better predict the impact on the bottom-line. While other organization subscribe to the theory of allowing department managers to create their budget for what their areas and plan pay increase by explaining how pay increase will impact the operating budget it’s how it will continue to grow the company’s goals. The company approves or revises that plan based on funds availability. The Top Down The top approach has factors that help companies decide whether funds are available for the organization to establish pay increases.