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CAMBRIDGE PRIMARY 1 TEXTBOOKS

on April 09, 2024

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CAMBRIDGE PRIMARY 1 TEXTBOOKS

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MARKETING MANAGEMENT

MARKETING -Marketing is all of the activities directed toward identifying and satisfying consumer needs and wants. -It is a management function which organizes and directs all those business activities involved in assessing and converting consumer purchasing power into effective demand for a specific product/service and in moving the product/service to the final consumer so as to achieve the profit target or other objectives set by the company while satisfying the customer’s needs and wants. What is a Market? -A market is people/organizations with needs or wants and the ability for willingness and authority to buy. -An aggregate of people lacking any one or more of these characteristics is not a market. *People sometimes use the word market: 1. To refer to a specific location where products are bought or sold 2. To refer to a large geographical area 3. To refer to the relationship between the demand and supply of a specific product 4. To refer to the act of selling something T

CAMBRIDGE O LEVEL TEXTBOOKS

CAMBRIDGE O LEVEL TEXTBOOKS ACCOUNTS ADDITIONAL MATHS BIOLOGY BUSINESS STUDIES CHEMISTRY ECONOMICS ENGLISH LANGUAGE ENVIRONMENTAL MANAGEMENT GEOGRAPHY LITERATURE IN ENGLISH MATHS CORE MATHS AND EXTENDED MATHS PHYSICS

14 PRINCIPLES OF MANAGEMENT BY HENRI FAYOL

Classical Organization Theory It is concerned with the formal structure of organizations. It focuses not on the work rate of an individual worker but on the technical efficiency of the organization and is an attempt to formulate universally valid principles of sound and effective management of organizations. It was developed by Henri Fayol during the industrial revolution. He identified the manager’s roles as planning, organizing, leading, controlling and co-coordinating. -Fayol believed that management was not a personal talent but a skill that could be taught. He developed the following principles of management to serve as a guide for managers: 1. Division of Work –Work should be divided among individuals to ensure that effort and attention are focused on special portions of a task. Such specialization allows managers and workers to acquire an ability, sureness and accuracy (efficiency) which will increase output. 2. Authority and Responsibility –Author

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CAMBRIDGE PRIMARY 1 TEXTBOOKS

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