3 yrs 9 months.
3 yrs 9 months.
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Perception or identification of decision problem: The decision making process begins with the uncovering of or discovering a problem situation which is basically either an unsatisfactory or a promising situation calling for a conscious intervention, In the course of his job, a manager confronts seveRead more
- Perception or identification of decision problem: The decision making process begins with the uncovering of or discovering a problem situation which is basically either an unsatisfactory or a promising situation calling for a conscious intervention, In the course of his job, a manager confronts several such situations in the internal and external environment of the organisation. Problem situations may relate to any area of management: planning, organising, direction and control in a broad sense.
- Diagnosis and definition of the decision problem: Once a problem surfaces and perceived or discovered, the next task of the manager is to analyse what exactly is the problem. He has to define it in clear terms so as to identify its scope and ramifications. It is a clinical process of critically looking into the problem and piercing through it to find out the origin and its degree of gravity or importance. In this step, the manager should go past the peripheral symptoms and reach the core of the problem so as to know its nature.
- Specification of objectives: In this step, the manager has to set the objectives which he would like to achieve by solving the problem. He has to be dear in his mind what the decision is about and what the decision is for. Objectives may be qualitative or quantitative; they may also be multiple, flexible, attainable and realistic. Objectives are the endpoints towards which the manager directs his decision making.
- Collection of Data: A lot of information is required to classify any problem. So long as the required information is not available, any classification would be misleading. This will also have an adverse impact on the quality of the decision. Trying to analyse without facts is like guessing directions at a crossing without reading the highway signboards. Thus, the collection of the right type of information is very important in decision- making. It would not be an exaggeration to say that a decision is as good as the information on which it is based.
- Developing Alternatives: After defining and analysing the problem, the next step in the decision-making process is the development of alternative courses of action. Without resorting to the process of developing alternatives, a manager is likely to be guided by his limited imagination. It is rare for alternatives to be lacking for any course of action. But, sometimes, a manager assumes that there is only one way of doing a thing. In such a case, what the manager has probably not done is to force himself to consider other alternatives. Unless he does so, he cannot reach the decision which is the best possible. From this can be derived a key planning principle which may be termed as the principle of alternatives. Alternatives exist for every decision problem. Effective planning involves a search for the alternatives towards the desired goal.
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The three cost classification are: Finished or standing charges Maintenance charges Operating and running charges Finished and Standing Charges include: These are those charges that are fixed and need to be paid. Such as: Insurance premium License fee Road tax Garage rent/ warehouse rent. MaintenanRead more
The three cost classification are:
- Finished or standing charges
- Maintenance charges
- Operating and running charges
Finished and Standing Charges include: These are those charges that are fixed and need to be paid. Such as:
- Insurance premium
- License fee
- Road tax
- Garage rent/ warehouse rent.
Maintenance Charges: These are charges incurred to keep the machinery and equipment in working condition. Such as:
- Repair and Maintenance of vehicles.
- Cost of spare parts
- Cost of consumables ( oil, grease, lubricant, etc )
Operating and Running charges: These are Variable Charges incurred to run machinery, factory, etc. Such as:
- Cost of fuel
- Cost of machine operator
- Cost of supervisor
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4 functions of marketing Product Delivery, Delivery of products on time is very important to establish the company goodwill Price, Pricing of the product matters in order to achieve company goals. because it attracts customers. Promotion, Marketing of the products is very important because if custoRead more
4 functions of marketing
- Product Delivery, Delivery of products on time is very important to establish the company goodwill
- Price, Pricing of the product matters in order to achieve company goals. because it attracts customers.
- Promotion, Marketing of the products is very important because if customers will not aware of new products of the company, then it hards to establish company position in the market.
- Place, the place is very important for any business. because simplify the transactions between a logistics provider and the customer.
Neha Rawat
Concepts of Marketing The marketing concept is the strategy that helps the firms implement in order to satisfy their customers’ needs, to increase sales and maximize profit. There are 5 marketing concepts Production Concept, Product Concept, Selling Concept, Marketing Concept, Societal Marketing ConRead more
Concepts of Marketing
The marketing concept is the strategy that helps the firms implement in order to satisfy their customers’ needs, to increase sales and maximize profit.
There are 5 marketing concepts
Tools of Marketing
- Classified adverts
- Social media
- Internet marketing
- Surveys
- Google Analytics
- Direct mail
- Customer loyalty programs
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