The Changing Work Environment of Management
THE CHANGING WORK ENVIRONMENT OF MANAGEMENT 0
TheChanging Work Environment of Management
TheChanging Work Environment of Management
Inthe contemporary times, businesses continue to experience a dynamicand ever changing environment that is prompted by technologydevelopment and innovation in the world. The customer’s needs arealso changing that compels business to reciprocate to the changes.The concept of globalization has led to the liberalization of marketsthat has resulted in increased competition for business that operatesat the local and international level. The management and leadershipof business in the present times, thus, have to be proactive. Also,act with speed in order to employ strategies and concepts that wouldenhance the chance of their business growing and develop to meetstated goals and objectives with ease. There exist numerous businessconcepts that exist that determine the strategies and approaches thatmanagement and decision makers in a business use. However, among themany, this paper analyses marketing as a business concept noting keypoints and how it affects professionals.
Marketing is an important aspect of the operational process of abusiness that has to be done with tact to enhance the success of abusiness. It entails the introduction of a product or service andpromoting it to the potential customers. It is also described by somescholars as the management process through which services or productsmove from the concept to the customer (Moosavi Tabatabaei, Sadjadi &Makui, 2017). The four critical elements that shape marketinginclude price, product, place and promotional strategy have to bewell coordinated in order to have a successful marketing. Marketingentails empowering potential customers with information about theproduct or services offered by the business that helps them makeinformed decisions and choices among many competing products orservices. There are businesses that offer the best products orservices in the market but have not embraced marketing strategiesthat can help their business grow and expand and realize the fullpotential and, thus, potential customers’ have no information aboutsuch businesses. It, hence, creates two possible alternatives as aresult of the failure of such business to embrace the correctmarketing strategies such as crashing of sales that might result inthe closure of the business. The management and decision-makers of abusiness, hence, have to embrace marketing as a business concept thatthey can rely on to build and expand their business beyond the localborders to the international level in the current globalized world.
Marketingshould be viewed as an investment rather than as expenditure. Formost businesses, the early times or years of a business mostlyexperience higher budget in the marketing department. It might proveexpensive but later the marketing budget is likely to reduce when thebusiness has picked up in the following years. Expert’s advicedeveloping a marketing mix increases the potential to realize fasteroutcomes for a business (Flores Falcão, Masiero & Campomar,2016). They might include print and broadcasts advertising, tradeshows, website development and social media among others.Additionally, it is important for marketers to research the currenttrends among potential customers’ and, thus, choose marketingstrategies that would increase the chances of the messages about thebusiness products or services. The potential consumers currently showdiverse characteristics and habits and, therefore, research can proverelevant for a successful marketing expedition.
Thereare benefits that experts note results from the marketing of aproduct or service increasing awareness. First, it results in highersales. It is because of the awareness that has become a reality forthe business and, thus, it starts making profits. The new customersadditionally spread the word about the product or service by tellingfamily and friends and the sales increase steadily as a result ofembracing the marketing concept in the business (Flores Falcão,Masiero & Campomar, 2016). Secondly, marketing helps build acompany or business reputation. It encourages product recall or brandrecognition among the public that forms the base for potentialcustomers. Actions such as effective communication, participating incommunity programs mostly through corporate social responsibility andoffering client’s quality products and services enhances businessreputation achieved through marketing strategies. Lastly, marketingenhances healthy competition of the business. It entails stating theprices that the product or service can be acquired and, thus,potential customers and competitors also access such messages. Iteliminates monopoly of services or products by keeping pricingcompetitive and help even newer and smaller business win customersbefore its competition does. Small business, hence, has the potentialto grow and stabilize successfully entering and growing their marketshares (Moosavi Tabatabaei et al., 2017).
Marketinghas professionals that specialize and study the variables that playin marketing. It forms critical business departments. Businessesmanagers have to have knowledge in marketing that can allow them toexecute informed decision at the right time as professionals andleaders. Decisions that can impact business positively enhance growthand development of the businesses. Many businesses have a departmentthat specifically deals with sales and marketing in particular bigand stable businesses because of the relevance that marketing has tobusinesses. Most personnel’s in the business that occupies theoffices are professionals and specialists in marketing fields thatare tasked with enhancing business goals and objectives throughmarketing activities as professionals.
FloresFalcão, R., Masiero, G., & Campomar, M. (2016). Marketingperformance of subsidiaries operating abroad: An integrative model.Internext:Revista Electrônica De Negócios Internacionais Da ESPM,11(3), 64-77. doi:10.18568/1980-4865.11364-77
MoosaviTabatabaei, S. R., Sadjadi, S. J., & Makui, A. (2017). Optimalpricing and marketing planning for deteriorating items. PlosONE,12(3), 1-21. doi:10.1371/journal.pone.0172758
No related posts.