The communication of positive, persuasive information about an organization or its products with the intent of directly or indirectly influencing exchanges is called promotion. Promotional messages can inform consumers about organizations and influence them to make a purchase or adopt special cause or belief. I will discuss- The role of promotion Promotional objectives Promotion mix…
How To Manage a Business – Meaning of Business: Business refers to the activities involved in producing, buying or selling goods or services for profit. It involves a wide range of activities such as finance, marketing, operations, and management. A business can be a small start-up or a large corporation, and it can operate in…
Definition of Strategic management: A strategy is a set of related actions that managers take to increase their company’s performance. For most, If not all, companies, achieving superior performance relative to rivals is the ultimate challenge. Mean by Strategy: Strategic management, a central objective of strategic management is to find out why some organizations succeed…
How Employees Learn Organizational Culture ? Each of us has a unique personality – traits and characteristics that influence the way we act and interact with others. When we describes someone as warm, open, relax, shy, or aggressive, we’re describe personality traits. An organization, too, has personality, which we call its culture. And that culture…
Meaning of Industry Life cycle: Industry life cycle is an industry can be defined as a group of companies. That offering products or services that are close substitutes for each other. Changes that take place in an industry over time are an important determinant of the strength of the competitive forces in the industry. The…
Corporate Level Strategy : Corporate level strategy involves choices strategic managers must make. (i) deciding in which businesses and industries a company should compete. (ii) selecting which value creation activities it should perform in those businesses. (iii) determining how it should enter, consolidate, exit businesses or industries to maximize long term profitability. When formulating corporate…
Definition of Strategic Management Process : Strategic management process is by which managers formulate and implement strategies. We consider what might be described as a typical, formal strategic planning. A Model of the Strategic Planning Process: The formal strategic planning process has five main steps – The task of analyzing the organization’s external and internal…
Strategic Leadership Strategic Leader is one key strategic role of both general and functional managers is to use all their knowledge, energy, and enthusiasm. To provide strategic leadership for their subordinates and develop a high performing organization. Several authors have identified key characteristics. key characteristics of strong strategic leader that lead to high performance: Vision,…
What is Perception ? Perception is process by which individuals organize and interpret their sensory impressions in order to give meaning to their environment. Factors That Influence Perception: Attribution Theory: Why when we observe people, we attempt to develop explanations of why they behave in certain ways. Our perception and judgment of a person’s actions,…