Do you think when you produce more products, the products will create their own demands? Let’s see what the production concept has to say about this. What is a Production Concept? The production concept is the management or marketing philosophy that believes consumers always buy those products that are widely available yet with lower prices….
Have you ever tried to find out what marketing is made up of? Or, what are the key elements that make marketing a whole system? Here, we will discuss the core concepts of marketing in detail. What are Core Concepts of Marketing? Core concepts are basic elements their combination makes up the complete marketing system….
You may have heard marketing as selling products, attracting customers, building customer relationships, or in many ways. As it is understood in many ways in many situations. Here we will discuss its definition, objectives, core elements, types, 4 & 7 Ps, and importance. What is Marketing? Marketing is the process of informing and attracting potential…
Importance of Marketing It is said that almost more than 80% of customers do not come directly to your business or even they do not know your business is there. It is the marketing that introduces your business and products to diverse customers. Today the importance of marketing is ever-growing since the modern market has…
Advantages and Disadvantages of Participative Management Participative management is a friendly management style that welcomes and values the recommendations of all the members of the organization. Participative management offers different advantages like employee satisfaction, and reduced conflicts as well as has also disadvantages like the potential of conflicts and security issues. Getting benefits from the…
It is said that employees are the ones who have actual knowledge of the market, customers, and the outside world of an organization. If so, they can certainly add up valuable information to management decisions. Participative management is one that ensures this – let’s discuss what it is and its different aspects. What is Participative…
Importance of Participative Management What is the importance of participative management? Now the concept of participative management is accepted worldwide. Organizations are actively inviting their employees to different decision-making processes. Since it creates a positive and cooperative working environment both employees and the management i.e. organization benefit in many ways. Some of the significance of…
What are Theories of Management? Theories of management are the concepts and guidelines that a manager can use to manage different organizations for successfully running their operations. These theories offer different ways of managing modern organizations. Different management theories have evolved a long time ago and still, scholars are trying to search for new theories…
Do you think one management principle or practice is always applicable to every organizational situation i.e. problem? This contingency theory of management has given us an answer to this question. Let’s see. What is Contingency or Situational Theory of Management? The contingency theory of management holds the belief that the best management practice is situational….