Category: Uncategorized
Identify your organization’s culture
A simple and powerful way to identify your organization’s culture is to identify how people behave in the meetings or any other group settings. Most Common cultural dimension is PLAY SAFE. People choose to play safe when the organization’s culture doesn’t provide safety pro-actively. Human beings are fast learners of social rules and very soon […]
Design Thinking & Theory U : How Theory U practices enrich the design thinking application
There are many design thinking models. Some of the things that are common in almost all of them are the following 2 principles: User Centric is great, but people have limited abilities do get out of their heads and actually see the world from others eyes. Also while user centric is very important, it is […]
Vision – how long is your long term thinking?
How long term do you think ? Organization building can be thought as a long term game. 25 years and beyond. Next generation. Built to last. Of course it depends on the founders and the top management. What is the purpose and vision for which this organization is being built ? Is it an ego […]
The deep end of not listening and thinking you are!
Most of us are trying to improve our listening or want to have good listening competency. But there is a barrier – the illusion that we already are good at listening OR we already know the truth. Absencing is Moving backward: It is a quite common response saying that the system is broken and that we […]
Bringing Systems Change – Part 1
Whether we want to bring change in the society or change in the organization, this notes based on Theory U by Dr. Otto Scharmer of M.I.T can throw new light in your thinking process. BACKGROUND : First we can see the current reality. You can call it the Symptoms. The symptoms are in the form […]
Bringing System Change – Part 1
Whether we want to bring change in the society or change in the organization, this notes based on Theory U by Dr. Otto Scharmer of M.I.T can throw new light in your thinking process. BACKGROUND : First we can see the current reality. You can call it the Symptoms. The symptoms are in the form […]
Organizational Transformation Pathway – Part 1
There are as many pathways for an organization’s transformation as there are organizations. The pathway one chooses has to be a match for the organizational dynamics one is dealing with at the given moment. First Steps: 3 Dimensions of Organizational Transformation: Key Phases of Organizational Transformation inside of the first dimension of SENSING – Transforming […]
Emerging Futurz Vision
VISION: Individuals, families, communities and organizations through transformed awarenesscreating SYSTEMSthat enable expression of higher Selfand extraordinary, sustainable quality of life for all. Our Intentions: Work with individuals, families, organizations, and societies for the following: What does it mean? 1st Dimension : Individuals, families, communities and organizations accessing and / or generating transformed awareness. Awareness of […]
PCG Growth Matrix
One of the simplest theory I have used with my clients to help them plan their growth strategy is what I call as the PCG Growth Matrix. P = Product Portfolio ; C = Customer Segments and G = Geography. All expansion plans can be looked from the perspective of the product portfolio expansion; customer […]
Reality Vs Open Mind
If you know Reality, do you need an Open Mind? If you don’t have an Open Mind, do you know Reality? What if, we as human beings are not wired to see reality but we see what we are programmed to see and we think it is reality. Most people seem to agree that we […]
What to do when things are just not working ?
There are times – when things don’t work. You put in all the efforts , but things didn’t work out. Everything was lined up and you were on the winning path – and somehow – it didn’t work. Hopes were up, but alas! Each one of us has had those moments of things not working […]
Reality Vs Open Mind
If you know Reality, do you need an Open Mind? If you don’t have an Open Mind, do you know Reality? What if, we as human beings are not wired to see reality but we see what we are programmed to see and we think it is reality. Most people seem to agree that we […]
Secret for Improving Employee Engagement
Dear Managers and Leaders, What all are you doing for improving employee engagement? How do you measure employee engagement? What is the benefit of improving employee engagement? All the above questions are valid. But may be the more useful question is: ARE YOU ENGAGED ? Are you engaged in the selection of the employee? in […]
Creating New Realities through 3 Transformations – Part 3
The third phase is *Transforming Action* (Read Part 1 and Part 2 ) Most people are related to action through the eyes of discipline, will power, effort and struggle etc. The real opportunity is to relate to action as a medium of learning. Learning by doing. Taking actions that generate feedback from the relevant stakeholders. […]
Creating New Realities through 3 Transformations – Part 2
Read Part 1 – Transforming Perception *** The next phase is *Transforming Self and Will* Each of us has 2 selves. The smaller self which is consumed by the need for survival, success and ego trips. The higher self which is the reflection of God(if you believe in God) or universal consciousness. As a leader […]
Creating New Realities through 3 Transformations – Part 1
The first phase of any initiative of creating new realities – whether it is at organization level, community , family or at larger levels is *Transforming Perceptions*. Transforming Perceptions has 3 aspects: How does one transform perceptions? First we have to realize that no one, NO ONE is ever connected fully with reality. Whatever reality […]
Your opinion : Is it really yours?
We get stuck in our opinions. Once we get stuck in our opinions, we get disconnected from others because they have their own opinions. Mostly they are also stuck in their own opinions. Personally or Professionally, individually or collectively – most of the disconnect happens because we all have opinions and inadvertently some of our […]
Dear Entrepreneurs : Why do you start a business?
While coaching a young entrepreneur recently, I realized that she was creating lot of mental pressure on herself. Her venture had gone live only 3 months back and she was already getting overwhelmed. Little probing brought up the following conversations: Father is also investor I need to prove to my parents. They should be ok […]
For SME: Thoughts on Bonus and Salary increase post performance appraisal
Many SMEs face difficulties in optimum management of their resources, build the right performance culture, keeping employees happy and retention. We are sharing some thoughts to trigger a deeper thinking on the issues around performance appraisal, annual bonuses and salary increases. Firstly they are not the same. Performance appraisals, annual bonuses and salary increase are […]
Are you out of your mind? Congratulations! That’s the secret to extraordinary success!
Most of us are living in our mind too too much.We are living in the world of our opinion and judgment masquerading as reality. Maybe it’s time to get out of our head and look at reality. I was talking to my daughters recently. They said that their mother (my wife) loves one of them […]
How do you know that you are listening?
When did you last listen? Not the words – but the communication, the context, the possibility, the future and the unprecedented. If you go beyond the initial response like “Ofcourse, I am listening” and all the defences around listening and inquire with an Open Mind: How do you know that you are really listening? The […]
Fulfil Your Purpose.
Don’t Survive. Don’t Succeed. Fulfill your Purpose. The more we spend time on thinking about surviving, making it in life, succeeding and all other entrapments that we have created for ourselves – the more we go away from our purpose. Consider NUMBERS are a SCAM. We have scammed ourselves out of real living by relating […]
Performance Dialogues & Performance Appraisals – the game changer
Transforming Performance Appraisals – Transforming Organizationhttps://www.eventbrite.co.uk/e/114317974138 What is Performance Dialogue an Opportunity for? In the ritual of Performance Appraisals, most companies have realized that it is an exercise which is not giving the ROI desired. How can we use the Performance Appraisals and Performance Dialogues for creating a high empathy and high performance culture? Stop […]
Do you have something worthwhile to offer to the World?
Many people and companies have something worthwhile to offer to the World, but something stops them. What stops them? One critical aspect that stops them is EGO. Not just the traditional understanding of EGO, but EGO as boundary. Thinking from the EGO perspective is thinking from the silo perspective, thinking within the boundary of individual, […]
Awareness based Sales & Customer Relationship – Part 1
A question generally not asked: What is your most important objective? Not asked to the customer or any other stakeholder. But also not asked to oneself and one’s own company. So, I am asking you: What is your most important objective? Go Deeper. Look deeper. Beyond the surface level responses and the generic responsibilities – […]
Money Paradigm in a disrupted economy like Covid 19
Some of the key points on which the Money Paradigm concept was built in a recent seminar series. Manoj Onjar, MANAGEMENT INNOVATIONS : manoj@managementinnovations.co.in. https://bit.ly/LFEFCohort-13
Lead with a humane touch in times of DISRUPTION
As people and companies get to embrace the disruption (e.g. COVID 19) it is important to not only deal with the work, workflow, technology etc., but it is also important to manage the emotional space of people. As many of us know, when we are listening, we are listening through the world of downloading, the […]
INNOVATIVE THINKING SYSTEM
It’s time to innovate. Whether you want to innovate the business model, the products, the processes, the sales and marketing – this is the time to innovate. Let’s look at the game of innovation. First thing to understand is INNOVATION is not equal to CREATIVITY. INNOVATION = CREATIVITY + IMPLEMENTATION There are 4 key phases […]
Leadership is too important to leave it to ‘Leaders’. Isn’t it?
Organizations can no more afford to relate to some ‘leaders’ as leaders and bet the future of the whole organization and the eco-system on them. Also one is betting the PURPOSE and VISION of the Organization. In this really VUCA World, companies need to address couple of key Questions? What is the future of our […]
3 Transformations for Leadership & Change Management
As per Theory U by Dr. Otto Scharmer and the various related conversations, there are 3 key transformations that are critical for new kind of leadership to show up in organizations and in society. Transforming Perception: Sensing Transforming Self & Will: Presencing Transforming Action: Realizing & Fulfilling Transforming Perception: The world of Perceptions have 3 […]
Characteristics of Real Leaders : Shifting from EGO to ECO
Leaders of the 21st Century: They remove themselves from the center. They create space for others. They are good at listening. They are good at holding the space. They are good at attending to the whole. They are good at helping people to connect to the edges of the system. They are good at connecting […]
Business Impact of LFEF
Some of the organizational benefits of having the teams participate in the ‘Leadership from the Emerging Future’ (LFEF) Intervention Deep Relationships with Customers involving in-depth understanding of the customers’ view of the following: Their Important Objectives What they expect from you How would they measure your performance Employee Engagement and Ownership: Increased bonding between the […]
Transforming Business & Leadership
Leadership from the Emerging Future 3 Transformations as the foundation of this new kind of Leadership Transforming how you perceive others and how you perceive situations, challenges and opportunities that you are dealing with Transforming how you perceive Self Transforming how others perceive you
7 Leadership Capacities
Seven Theory U Leadership Capacities The journey through the U develops seven essential leadership capacities. 1. HOLDING THE SPACE OF LISTENING: The foundational capacity of the U is listening. Listening to others. Listening to oneself. And listening to what emerges from the collective. Effective listening requires the creation of open space in which others can contribute to […]
Producing Results: Getting to the Source of Results
We are always looking at producing some results. Causing something. Avoiding something. Making something happen. Ensuring something doesn’t happen. What causes Results? Actions. Your Actions. Other People’s Actions. Also Inactions. What influences Actions? Thought Patterns As thought patterns change, one sees a change in actions and behaviours. What influences Thought Patterns? That is the million […]
What is Leadership in the 21st Century: Transforming PPP (Perception, Paradigm and Performance)
While leadership is accountable for the Performance and the Results. Leadership doesn’t cause the results. Leaders are not necessarily causing the results themselves. They are creating the environment in which results happen. The environment in which results happen includes the culture of the team and organization. It also includes the paradigm in which people operate. […]
Transforming the leadership and consciousness with which organizations, society and individuals operate.
For Leadership Team and Change Makers. Get trained and certified in the world’s powerful technology and make a big difference for your organizations. Master : Leadership Transformation Change Management Organizational Culture Management Development & Supervisor Development Teamwork & Breakthrough Collaboration Stakeholder Relationships Sales and Customer Service Technology that you use in large organizations and small […]
Why Leadership Education needs to change?
To bring different results on the planet, we need different leadership. Actually we need a different leadership paradigm. Shifting from Past based to based on sensing and actualizing the higher future possibilities. Shifting from EGO to ECO. From thinking of some people, some interest groups to thinking of one and all – holistic, all inclusive. […]
Why Leadership Education needs to change?
To bring different results on the planet, we need different leadership. Actually we need a different leadership paradigm. Shifting from Past based to based on sensing and actualizing the higher future possibilities. Shifting from EGO to ECO. From thinking of some people, some interest groups to thinking of one and all – holistic, all inclusive. […]
ANTI-CEO PLAYBOOK Recommended for the evolved CEOs
http://bit.ly/LFEFCohort12 – Leadership from the Emerging Future Very inspired to see and hear this video.
Mantra for Listening:
Whenever one feels the other person is not listening, the other person is not understanding you, It is a good time to check our own listening!
Ignorance -> Hate -> Fear
The mass hysteria of CAA, Brexit, Trump and a World of Absencing/De-sensing … Also visible in Organizations, Communities and families. Everyone speaking – no one really listening. Deep Listening. Stuck in the absencing shown above and in inverted U below, instead of the bottom U of Presencing Economies of Destruction: Social Pathology We are stuck […]
Management Salt: Does your organization culture foster INNOVATION?
Innovation in an organization or society or family is a function of the culture that is available to foster it. In organizations, if the culture is of “Yes Sir” there is not much scope of promoting innovation. If the culture is of “I am right or I am better than you”, then also scope of […]
Management Salt: What is going to disrupt your industry tomorrow?
Do you. know what is going to disrupt your industry tomorrow? Not day after tomorrow – but tomorrow. How can you find out what is going to disrupt your industry? How come you don’t know? The problem might be that you are successful and are busy with your Vision and Goals and Ambitions. Or the […]
Management Salt: Is it really a department problem?
In our consulting conversations, we find this situation many times. Recently we were working with a CEO and his team. One day over dinner, we asked him about the various problems his company is dealing with. He said that his Head of Customer Service had a problem in delivering on time and while he and […]
Management Salt: Is your culture dumbing the organization?
“Culture eats Employee Intelligence for breakfast.” This can be new twist to the old quote “Culture eats Strategy for breakfast.” The culture of an organization can be identified through the conversational field present in the organization. Unfortunately a good chunk of organizations have a TALK NICE field of conversation, where in people tend to speak […]
MANAGEMENT SALT: Department Vs Company: Are you married to your department?
People join companies but get married to their departments. All people who get married to their departments have a risk of becoming a problem for the company. Departments have no real existence except for work distribution. There are no successful departments in failed companies. Not really. The mess that companies face just because people start […]
Healthcare 4.0: From Pathogenesis to Salutogenesis
Realizing that only 20% of health depends on the provision of healthcare services while 60% depends on social, environmental and behavioural factors, one needs to shift the focus from Pathogenesis: Treating the symptoms of illness, to Salutogenesis: Strengthening the social determinants of health and well-being in communities. Main stream health organizations have transformed from: OS […]
Innovating from the Future – Part 5: Co-Evolving: Grow Innovation Eco Systems
The movement of co-shaping focuses on scaling the new while growing and evolving innovations Eco-systems for collective impact. The problem with today’s societal eco-systems is the broken feedback loop between the parts and the whole. The essence of consciousness-based systems thinking like Theory U, is to relink the parts and the whole buy making the […]
Innovating from the Future that wants to emerge – Part 1: Co-Initiating
Co-Initiating: Uncovering Shared Intention: The starting point of the process is to build a container (a holding space) for a core group that is going through the process together. This first stage lays the foundation for the later process and its impact. This first step of co-initiating focuses on uncovering common intention. Listening is the […]
Leadership Rule: ENERGY follows ATTENTION
The way I pay attention shapes how the social reality around me unfolds. I attend (this way), therefore it emerges(that way). Energy follows attention. Wherever you put your attention as a leader, as an innovator, as a change maker, or as a parent, that is where the energy of the system around you will go- […]
Presencing Vs Absencing : Creation Vs Destruction — The Leadership Challenge
There is fair amount of PRESENCING in the world; the sensing and actualizing of our highest future potential. But there is much more ABSENCING also happening on the planet right now. In the world of Absencing the three enemies of Voice of Judgement, Voice of Cynicism and Voice of Fear show up as: IGNORANCE HATE […]
Theory U Leadership: Cultivate the Social Field of the Organization or Society that you want to transform
Adapted from the book ‘The Essentials of Theory U’ by MIT Prof. Dr. Otto Scharmer. Theory U makes a distinction between the different ways that action and attention come into the world. I pay attention this way, therefore it emerges that way. Or as the late CEO of Hanover Insurance, Bill O’Brien puts it: The […]
Background of Theory U – Transformation of Business, Society and Self
Inputs from the book: The Essentials of Theory U by MIT Prof. Dr. Scharmer Theory U blends systems thinking, innovation, and leading – change from the view point of an evolving human consciousness. Drawing on the MIT tradition of action research and learning by doing, Theory U has evolved over 2 decades of experimentation and […]
Leadership from the Emerging Future
Based on Theory U by MIT Prof. Dr. Otto Scharmer http://www.managementinnovations.co.in/cohort_paypal8.html Corporate Interventions Details: https://docs.google.com/gview?embedded=true&url=http://www.managementinnovations.co.in/LFEF_.pdf Cohort 8 Details: – http://bit.ly/LFEFCohort8 Cohort 9 Details: http://bit.ly/LFEF-Cohort9
Facebook and linkedIN
You may check my profile on Facebook and LinkedIn to know more about my current activities. Thanks Manoj Onkar
Strategy Formulation: BCG Growth-Share Matrix Model
BCG Growth-Share Matrix: The Boston Consulting Group, a leading consulting firm, developed and popularized a portfoilo analysis tools that helps managers develop organizational strategy based on market share of businesses and the growth of markets in which businesses exist. The 1st step in using this model is identifying the organization’s strategic business units (SBUs). A […]
A LEARNING ORGANIZATION
A LEARNING ORGANIZATION is an organization that does well in creating, acquiring and transferring knowledge, and in modifying behaviour to reflect the new knowledge. Learning organizations emphasize systematic problem solving,experimenting with new ideas, learning form experience and past history, learning from the experience of others, and transferring knowledge rapidly throughout the organization. According to Peter […]
Consumer Decision Making & Relationship Marketing
The Consumer’s decision to purchase or not to purchase a product or service is an important moment for most marketers. It can signify whether a marketing strategy has been successful or not. Therefore, marketing people are interested in the consumer’s decision making process. For a consumer to make a decision, more than one alternative must […]
Consumer Behaviour, Consumer Influence and the Process of Diffusion
What is Opinion Leadership? Opinion Leadership is the process by which the opinion leader informally influences the actions or attitudes of others, who may be opinion seekers or merely opinion recipients. Opinion receivers perceive the opinion leader as a highly credible, objective source of product information who can help reduce their search and analysis time […]
PRICING STRATEGY IN COMPETITIVE TIMES
Pricing has lot to do with the target audience that you are positioning your product and service offerings for? Do you want to target the uber rich and super rich or you want to target the rich and the upper middle class? These competitive times along with the recessionary pressures will force most of the […]
STRATEGY FORMULATION TOOLS
After the managers involved in the strategic management process have analyzed the environment and determined organizational direction through the development of a mission statement and organizational objective, they are ready to formulate strategy. STRATEGY FORMULATION is the process of determining appropriate courses of action for achieving organizational objectives and thereby accomplishing organizational purpose. Managers formulate […]
ORGANIZATIONAL DIRECTION: MISSION & OBJECTIVES
DETERMINING ORGANIZATION DIRECTION: Through an interpretation of information gathered during environmental analysis, managers can determine the direction in which an organization should move. 2 important ingredients of organizational direction are Organizational Mission and Organizational Objectives. DETERMINING ORGANIZATIONAL MISSION: The most common initial act in establishing organizational direction is determining an organizational mission. ORGANIZATIONAL MISSION is […]
STRATEGY PLANNING – ENVIRONMENTAL ANALYSIS
The 1st step of the strategy management process is environmental analysis. An organization can only be successful if it is appropriately matched to its environment. ENVIRONMENT ANALYSIS is the study of the organizational environment to pinpoint environmental factors that can significantly influence organizational operations. MANAGERS commonly perform environmental analyses to help them understand what is […]
FUNDAMENTALS OF STRATEGIC PLANNING
STRATEGIC PLANNING: Strategic Planning is the long range planning that focuses on the organization as a whole. In doing strategic planning, managers consider the organization as a total unit and ask themselves what must be done in the long term( 3 to 5 years) to attain organizational goals. In strategic planning, managers try to determine […]
PROCESSES FOR MAKING GROUP DECISIONS
3 Famous Processes for Group level Decision Making are: Brainstorming Nominal Group Technique Delphi Technique BRAINSTORMING: Brainstorming is a group decision making process in which negative feedback on any suggested alternative by any group member is forbidden until all members have presented alternatives that they perceive as valuable. Brainstorming is carefully designed to encourage all […]
TYPES OF DECISIONS & DECISION MAKING PROCESS
A decision is a choice made between 2 or more available alternatives. Decision Making is the process of choosing the best alternative for reaching objectives. Managers make decisions affecting the organization daily and communicate those decisions to other organizational members. Some decisions affect a large number of organization members, cost a great deal of money […]
THE PLANNER: Qualification and Evaluation
The planner is probably the most important input in the planning subsystem. This individual combines all other inputs and influences the subsystem process so that its output is effective organizational plans. The planner is responsible not only for developing plans but also for advising management on what actions should be taken to implement those plans. […]
MBO – Management by Objectives
MBO – Management by Objectives was popularized mainly through the writings of Peter Drucker. Some Managers find organizational objectives such an important and fundamental part of management that they use a management approach based exclusively on them. Although mostly discussed in the context of profit oriented companies, MBO is also a valuable management tool for […]
GUIDELINES FOR ESTABLISHING OBJECTIVES
In general an organization should have 3 types of Objectives: Short Term Objectives : Targets to be achieved in 1 year or less. Intermediate Term Objectives: Targets to be achieved in 1 to 5 years. Long Term Objectives: Targets to be achieved in 5 to 7 years. The necessity of predetermining appropriate organizational objectives has […]
PLANNING CHARACTERISTICS
4 Aspects of Planning are : Definition of Planning Purposes of Planning Advantages and Potential disadvantages of planning Primacy of Planning DEFINING PLANNING: Planning is the process of determining how the organization can get where it wants to go, and what it will do to accomplish its objectives. Planning is the systematic development of action […]
6 variables in International Systems
IMPORTANT VARIABLES IN THE INTERNATIONAL SYSTEM: Different National Sovereignties. Disparate National Economic Conditions Different National Values and Institutions Difference in timing of National Industrial Revolution Geographical Distance […]
Diversity Management: Ethnocentrism and other negative dynamics
The changing demographics set in motion certain social dynamics that can interfere with workforce productivity. If an organization is to be successful in diversifying, it must neutralize these dynamics. ETHNOCENTRISM: Our natural tendency is to judge other groups less favourably than our own. These tendency is the source of ethnocentrism. Ethnocentrism is the belief that […]
VARIOUS APPROACHES TO MEETING SOCIAL RESPONSIBILITY
Lipson, a desirable and socially responsive approach to meeting social obligations does the following: Incorporates social goals into the annual planning process. Seeks comparative industry norms for social programs. Presents reports to organization members, the board of directors, and stockholders on social responsibility progress. Experiments with different approaches for measuring social performance. Attempts to measure […]
OUTCOMES OF SOCIAL RESPONSIBILITY INVOLVEMENT EXPECTED BY EXECUTIVES
POSITIVE OUTCOMES: Enhanced corporate reputation and goodwill. Strengthening of the social system in which the corporation functions. Strengthening of the economic system in which the corporation functions. Greater Job satisfaction among all employees. Avoidance of issues with government regulations. Greater job satisfaction among executives Increased chances for survival of the firm. Ability to attract better […]
KEITH DAVIS MODEL OF CORPORATE SOCIAL RESPONSIBILITY
Davis’s model is a list of 5 propositions that describe how and why businesses should adhere to the obligation to take action that protects and improves the welfare of society as well as of the organization: Proposition 1: SOCIAL RESPONSIBILITY ARISES FROM SOCIAL POWER. This proposition is derived from the understanding that a business has […]
THE SYSTEM APPROACH
The system approach to management is based on general system theory founded by Scientist Ludwig Von Betalanffy. The main context of this theory is that to be able to fully understand the operations of an entity, the entity must be viewed as a system. A system is a number of interdependent parts functioning as a […]
MANAGEMENT SCIENCE
The Scientific Method of problem solving dictates that one should: Systematically observe the system whose behaviour must be explained to solve the problem. Use these specific observations and from which consequences of changing the system can be predicted. Use the model to deduce how the system will behave under conditions that have not been observe […]
HENRI FAYOL’S 14 Principles of Management
Management Principles developed by Henri Fayol: DIVISION OF WORK: Work should be divided among individuals and groups to ensure that effort and attention are focused on special portions of the task. Fayol presented work specialization as the best way to use the human resources of the organization. […]
UNIVERSALITY OF MANAGEMENT & MANAGEMENT SKILL
Management principle are universal; that is why, the apply to all types of organizations including but not limited to FOR PROFIT AND NOT FOR PROFIT ones like businesses, churches,sororities, athletic teams, hospitals and so on. Manager’s jobs vary somewhat from one type of organization to another because each organizational type requires the use of specialized […]
MANAGERIAL EFFECTIVENESS & EFFICIENCY
ORGANIZATIONAL RESOURCES: Human Resources Monetary Resources Raw Materials Capital Organizational resources are used,combined and transformed into finished products during the production process. Human resources are people who work for an organization.Their skills and their knowledge are leveraged by the managers. Monetary resources are amounts of money that managers use to purchase goods and […]
DEFINE MANAGEMENT & ITS FUNCTIONS
Management is the process of reaching organizational goals by working with and through people and other organizational resources. Management has the following 3 characteristics: It is a process or series of continuing and related activities. It involves and concentrates on reaching organizational goals. It reaches these goals by working with and through people and other […]
ROLE & IMPORTANCE OF MANAGEMENT
IMPORTANCE OF MANAGEMENT: Managers influence all the phases of modern organizations. Sales Managers maintain a sales force that markets goods. Personnel managers provide organizations with a competent and productive workforce. Plant managers run manufacturing operations that produce the clothes we wear, the food we eat, and the automobiles we drive. Our society could never exist as […]
ETHICS OF CONSUMER PRODUCTION AND MARKETING – Theories and Definitions
How far must manufacturers and their representatives go to make their products and services completely safe? WHAT Is the relationship between a business and its customers? a contract, or is there more to it than that? Hos does the fact that companies usually know more about their products than their customers IMPACT their duty to […]
BUSINESS & ENVIRONMENT
The process of producing goods forces businesses to engage in exchanges and interactions with 2 main environments ie. the customer environment and the natural environment. It is from the natural environment that business ultimately draws the raw materials that it transforms into it the finished products, which are then promoted and sold to the customers. […]
ETHICS IN THE MARKET – Theories and Definitions
PERFECT COMPETITION: A free market in which no buyer or seller has the power to significantly affect the prices at which goods are being exchanged. PURE MONOPOLY: A market in which a single firm is the only seller in the market and which new sellers are barred from entering. OLIGOPOLY: A market shared by a […]
THINGS TO CHECK IN A BUSINESS PLAN
We have been consulting an investor ( a strategic VC Operations) on investing in various projects. Common findings: The entrepreneurs who had approached the investors were operating more from their gut feelings than from data. They are very optimistic about their future prospects, even though they have been facing tough times for a long time. […]
THE BUSINESS SYSTEM – Markets, Government and International Trade
ECONOMIC SYSTEM: The system a society uses to provide the goods and services it needs to survive and flourish. GLOBALIZATION: The process by which the economic and social systems of nations are connected together so that goods, services, capital, and knowledge move freely between nations. TRADITION BASED SOCIETIES: Societies that rely on traditional communal roles […]
ETHICAL PRINCIPLES IN BUSINESS – Various Definitions
ETHIC OF CARE: An ethic that emphasizes cring for the concrete well being of those near to us. ETHIC OF VIRTUE: An ethic based on evaluations of the moral character of persons or groups. UTILITARIANISM: A general term for any view that holds that actions and policies should be evaluated on the basis of the […]
Business Ethics – Various Definitions and Theories
Business Ethics: The principles of conduct governing an individual or a group. Business Ethics: Ethics is the study of Morality. Ethics is not the same as morality, it is a study of various dimensions of Morality. Ethics is the discipline that examines one’s moral standards or the moral standards of a society. WHAT IS […]
BUSINESS ETHICS
Business Ethics is applied ethics in the day to day operations of the business. It is the on the court application of our understanding or what is good and right to that assortment of institutions, technologies,transactions,activities and pursuits that we call BUSINESS. Although ethics may be the best policy, the ethical course of aciton is […]
Culture & Consumer Behaviour
CULTURE : The study of culture is the study of all aspects of a society. It is the language, knowledge, laws, and customs that give that society its distinctive character and personality. In the context of consumer behaviour, culture is defined as the sum total of learned behaviours, beliefs, values, customs that serve to regulate […]
Social Class and Consumer Behaviour
SOCIAL CLASSES & CONSUMER BEHAVIOURS: Social Stratification, the divison of memebrs of a society into a hierarchy of distinct social classes, exists in all societies and cultures. Social class usually is defined by the amount of status that members of a specific class possess in relation to members of other classes. Social-class membership often serves […]
Consumer Behaviour Influencers
Consumer Behaviour & Purchase Decisions Influenced by Reference Groups and Families Almost all individuals regularly interact with other people who directly or indirectly influence their purchase decisions. Therefore, the study of groups and their impacts on the individual is of great importance,specially for the marketers who want to influence the consumer behaviours in favour of […]
Marketing Communication and Consumer Behaviour
MARKETING COMMUNICATION: There are 5 basic components of communication: Sender Receiver Medium Message Feedback In the communications process, the sender encodes the message using words,pictures, symbols sends it through a selected medium. The receiver decodes the message based on his or her personal characteristics and experience, and responds based on such factors as selective […]
Consumer Attitutde
What is an Attitude? An attitude is a learned predisposition to behave in a consistently favourable or unfavourable way with respect to a given object whether it is a product, product category, a brand, a service, an advertisement, a website, a store etc., Each property of this definition is critical to understanding why and how […]
Consumer Learning
What is Consumer Learning? Consumer Learning is the process by which individuals acquire the purchase and consumption knowledge and experience they apply to future related behaviour. Most of the learning is incidental. Some of it is intentional. Basic elements that contribute to an understanding of learning are: Motivation Cues Response Reinforcement There are […]
Consumer Perception
Perception is the process by which individuals select, organize and interpret stimuli into a meaningful and coherent picture of the world. Perception has strategy implications for marketers because consumers make decisions based on what they perceive rather than on the basis of objective reality. Consumers selections of stimuli from the environment are based on the […]