IMR652 E-magazine Flipbook PDF
FLIP PDF 32.5MB
PERSONNEL - 7
FINANCIAL - 14
PRODUCTION - 21
M A R K E
T I N G
30 JUNE 2022
MARKETING WHAT IS MARKETING?
Marketing is the practice of explaining to customers the benefits of a good or service. It's fair to describe marketing as the art of selling goods and services. "Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others." (Kotler)
MARKETING MANAGEMENT TASK Marketing management is essentially demand management. The primary task of marketing function is to simulate and attract demand for the company's product and services. However, it is also performs the task of regulating the levels, timing and charter of demand in a way that would help the company to achieve its objectives
MARKETING RESEARCH PRIMARY RESEARCH Involves the firm generating its own market research information.
Techniques of primary research: Survey Observational method Experimental method
SECONDARY RESEARCH A research information which is not obtained by the firm undertaking a market research project but by using other sources of information already in existence.
Sources of secondary research: Internal External
Controllable element's of Product Marketing Plan
PRODUCT Finding out what clients require or want helps successful businesses create the ideal product that will satisfy their needs both now and in the future.
PRICE The price that consumers are willing to pay for a thing determines its value. Even if the pricing must be reasonable, small firms can compete with larger rivals by providing a more individualised service, value additions, or better value for the money.
PLACE The product must be accessible at the appropriate time, location, and amount while containing storage, inventory, and distribution expenses to a manageable level.
PROMOTION Promotion is how a business tells clients what it does and what it can provide for them. It involves sales management, branding, advertising, PR, corporate identity, social media outreach, and exhibits.
MARKETING MANAGEMENT P R O C E S S
S T R U C T U R E
STRUCTURE AND ACTIVITIES OF MARKETING MANAGEMENT 1. Understanding the mission of the organization and the importance of marketing in fulfilling the mission 2. Establishing the marketing objectives 3. Collecting, analyzing and processing information 4. Developing a marketing strategy 5. Marketing strategy implementation 6. Quantification of performances 7. Periodic assessment of marketing efforts
CONCEPT OF MARKETING MANAGEMENT
CORPORATE LEVEL The organization's leadership is responsible for developing a strategy plan to direct all of the organization's activities. It also decides how much funding should be given to each division and develops an action plan.
Generates a strategic financial plan for each company unit inside its organization.
To accomplish the goals, a marketing plan is developed for each product level (product line, brand).
BUSINESS UNIT LEVEL Creates a comprehensive plan to produce effective results. To create a strategic marketing mix that allows the company to meet the needs of its target audiences and accomplish the marketing goals. The majority of a company's marketing work is spent on the design and later operation of the marketing mix components.
Since production activities would define how much something would cost to make, the marketing function would be ultimately responsible for making revenue.
's's !! t t ee D L L AAD
The process of marketing management
management marketing activities and the operational marketing
This article was written by Zait Luminita, from University Vasile Aleesandri din Bacau.
The article elaborates on the marketing management, analysis, planning, implementing and controlling.
Methodology: The analysis consists in collecting data and information. This study of to complete the analysis used a cross-sectional study design with mixed methods for both qualitative and quantitative data. A total of 100 respondents were obtained from the development groups.
Link: https://www.researchgate.net/publication/465 34113_The_process_of_marketing_managemen t__between_the_management_marketing_activi
Read Full Article Here!
P E R S O
N N E L
12 MAY 2022
INTRODUCTION TO BUSINESS RECORDS MANAGEMENT
PERSONNEL What is Personnel? Obtaining, using, and maintaining a contented staff is what personnel management entails. It is an important aspect of management that deals with workers at work and their relationships within the company. "Personnel management," according to Flippo, "is the planning, organising, remuneration, integration, and maintenance of people with the goal of contributing to corporate, individual, and societal goals."
An organization's success is determined on its employees' efforts. It is often assumed that an organization's or institution's ability to maintain its records is a requirement for good management. It is believed that adequate records management would aid organisations in properly managing information, achieving their missions, protecting themselves from legal proceedings, preserving corporate memory, and promoting accountability and good governance. Record management is a system for storing and retrieving information that aids decision-making in organisations.
"Personnel Management," according to Brech, "is the part of the corporation that is principally concerned with the human resource."
Functions of Personnel Management : 1. Manpower Planning 2. Recruitment 3. Selection 4. Training and Development More info at page 10 >
5 Nature of Personnel Management 1. Managing Individuals Personnel management is primarily concerned with the supervision of employees. It is responsible for all employees in the company, not only those who are organised or unorganised. It applies to all employees, including secretaries, executives, and supervisors.
2. Employees are a source of concern It is an important aspect of management that deals with workers at work and their relationships within the company. Personnel management deals with people as well as groups of employees. The goal is to inspire people to achieve their best results.
3. Assisting Workers Employees are assisted in completely developing their talents by providing them with relevant opportunities. This will increase their job satisfaction and possibly boost their work performance.
4. Broad Applicability Personnel management is applicable to any and all types of businesses. It can be used in government, semigovernment, and non-profit organisations alike.
5. Continuous Use Personnel management is employed in a variety of situations on a daily basis. It is not something that can be used occasionally.
"Move forward. Good things are up ahead."
Role of Personnel Manager
Provides assistance to the top management. Advices the line manager as a staff specialist. Act as a counsellor for the employees. Act as meditiator. A spokesman for the company.
BASIC FUNCTIONS OF PERSONNEL MANAGEMENT RECRUITMENT
According to Akintola S.K (2016) Human Resources Management say that “recruitment is a human resource process which seeks to identify and attract prospective applicants to fill in job position in the organization”. In order to create a shortlist for further examination in the selection process, the process entails locating potential applicants by looking at their credentials. Therefore, recruitment is the process of luring new employees to a business in order to achieve its goals.
SELECTION & PLACEMENT
The process of selection involves choosing the applicant who best fits the position in terms of performance and potential. Todeetal (1997) stressed the significance of the selection process in hiring staff members. Personnel management must devote time to carefully choose employees in order to ensure that the appropriate people are in the right places at the right times..
TRAINING & DEVELOPMENT
According to Ubeku (1975), "no organisation to active corporate objective, via development of strategic designed to maximise the contribution of manpower at all times in the fore distant future.
The development and success of an organisation depend heavily on training. Both employers and employees of an organisation benefit from it. If a worker is properly trained, he will become more effective and productive.
BASIC FUNCTIONS OF PERSONNEL MANAGEMENT MANPOWER PLANNING Key to managerial functions Efficient utilization
Gain skilled employees
Better human relations
Saves time and money
TRAINING & DEVELOPMENT Improves
Chances of promotion Increased productivity
SELECTION Increase performance of the organization
Reduces training cost
It helps in identifying the
right candidates for a company
PERSONNEL PERSONNEL POLICIES POLICIES IN IN AN AN ORGANIZATION ORGANIZATION
THE NEEDS OF PERSONNEL POLICIES IN AN ORGANIZATION 1) Achieving Organizational Goals Establishing personnel policies significantly aids in accomplishing organisational goals. An organization's objectives relate to "what to accomplish," whereas its policies address "how to do." 2) Consistency and Uniformity in Decisions in dealing with issues that repeatedly arise, personnel policies aid in ensuring consistency and uniformity. Policies offer direction on the course of measures to be taken in comparable circumstances. 3) Elimination of Favoritism
WHAT IS PERSONNEL POLICIES?
No of their caste or creed, all employees receive the same treatment. As a result, the likelihood of favouritism and prejudice is reduced.
The guidelines that specify how to handle a scenario involving human resources or personnel are known as personnel policies. Personnel policies outline the standards of work conduct and performance that an organisation expects from its workforce, as well as the rewards and career possibilities that are available in exchange. The guidelines, conditions, rewards, and opportunities described in personnel policies are frequently seen as a reflection of the principles and objectives of a business.
4) Promote organisational stability Even if top management is changed, personnel policies guarantee ongoing action. These measures support stability. (5) Support for Decentralization When effective personnel policies are put in place, many issues can be resolved at the lower level without constantly involving higher-ups. 6) Support for Control When the management frames clear-cut established policies, it becomes quite simple to control the labour force.
's's !! t t ee D L L AAD
IMPACT OF PERSONNEL
MANAGEMENT ON ORGANIZATION PERFORMANCE "
The purpose of this study is to determine how crucial personnel management is to the effectiveness of a business. The purpose of this work is to make it evident how crucial human management is to organisational success. the familiarisation of aspiring managers with potential jobs inside the company.
Methodology: A literal review of pertinent literature is done based on the objective. In Zartech Farm plc, Ibadan, a questionnaire is sent to respondents among the junior and senior personnel as part of a survey technique. The statistical programme for social science (SPSS) was used to examine the data, and the test of hypotheses using the chi-square statistic revealed that human resources management had a favourable impact on organisational performance. In conclusion, it is important to foster positive workplace relationships and provide ongoing training for employees.
Link: https://www.academia.edu/4 1643290/THE_IMPACT_OF_PE RSONNEL_MANAGEMENT_O N_ORGANIZATION_PERFOR
Read Full Article Here!
F I N A N C
I A L
12 MAY 2022
's's !! t t ee D L L AAD
Effect of Financial Record
Keeping on Financial Performance of Development Groups in Rural Areas of Western Uganda "
This article was written by Lawrence Collins Kihamaiso Mwebesa, Catherine Kansiime, Benon B. Asiimwe, Paddy Mugambe & Innocent B. Rwego
The article elaborates on the study on financial record keeping as an integral part of managing development groups business environment.
Methodology: The study was carried out in three rural districts of Rubirizi, Kasese, and Rukungiri in Western Uganda. This study used a cross-sectional study design with mixed methods for both qualitative and quantitative data. A total of 99 respondents were obtained from 33 development groups.
Link: https://www.researchgate.net/publication/323 829134_The_Effects_of_Financial_Record_Keepi ng_on_Financial_Performance_of_Development _Groups_in_Rural_Areas_of_Western_Uganda
Read Full Article Here! 20
P R 0 D U C
T I O N
12 MAY 2022
In production, it discussed how products were being produced by business organizations, starting from its raw material until its finished form.
o ensure that the production of the products are well performed,
this production management is crucial in business management as it monitors the whole transformation process.
The Production Function 1 THE MANUFACTURING PROCESS In this phase, production will act as a kickstart for the company to focuses on their production method used, place location and place layout of the manufacturing area. It is important to figure out the manufacturing process initially.
2 SERVICE ACTIVITIES The services activities that being conducted are maintenance, purchasing, stock control, distribution, production control and planning in this production phase.
3 ADVISORY ACTIVITIES The advisory activities were conducted to ensure that the production run smoothly and products produced were at their best form. Some of the advisory activities are work study and quality control.
ACROSS 2)Activities that were conducted to ensure that the production run smoothly and ensure products produced were at their best form. DOWN 1)Process that focuses on their production method used, place location and place layout of the manufacturing area. 3)The activities that involved purchasing, distribution, maintenance, production control and planning.
's's !! t t ee D L L AAD
Ensuring the Business Continuity of Production Companies in
Condition of COVID
This article was written by Anna Kosieradzka, Justyna Smagowicz and Cezary Szwed from Warsaw University of Technology, Faculty of Management, Warsaw, Poland.
The article elaborates on the study of solution implemented in Polish manufacturing companies to ensure their business continuity under COVID-19 pandemic conditions.
Methodology: The study was being conducted by handing out questionnaire survey to a representative group of 600 manufacturing companies in Poland. The survey was being carried out online through the mixed-model CAWI/CATI (Computer Assisted Web Interview/Computer Assisted Telephone Interview.
Link: https://drive.google.com/file/ d/1rKtUXMXwgWbGxyfNsGc4 P-nN5dABdAgk/view?
Read Full Article Here!
MEASURES DEVELOPED BY MANUFACTURING COMPANIES IN POLAND AFTER COVID-19 PANDEMIC
Legal & Regulatory Measures
Personal Protective Measures
Protective Measures for Group of Workers
Work Organization Measures
SMART STRATEGIES IN MANAGEMENT
Measures of Production Organization