- Gates, with the help of Allen, Ballmer, and others, built Microsoft, now valued at over a trillion dollars based on its market capitalization, making it one of the world’s largest and most influential tech companies
- Larry Page is the co-founder of Google, the world’s number one search engine
What do all successful new business have in common
“One thing successful businesses have in common is … a strong customer focus,” said John Stevenson, marketing specialist at My GRE Exam Preparation.
“They create a culture that is centered around their customers and focus their processes, products and services around their services needs.
What are the 4 selling strategies
The four basic sales strategies salespeople use are script-based selling, needs-satisfaction selling, consultative selling, and strategic-partner selling.
Different strategies can be used with in different types of relationships.
Who said to manage is to forecast and plan
Henry Fayol defined it as ” to manage is to forecast, and to plan, to organize to command, to coordinate and to command “.
Why is mis looked upon as a strategic need of management today
The MIS helps in strategic planning, management control, operational control and transaction processing. The MIS helps in the clerical personal in the transaction processing and answers the queries on the data pertaining to the transaction, the status of a particular record and reference on a variety of documents.
Who is the father of modern management theory
Peter F. Drucker, revered as the father of modern management for his numerous books and articles stressing innovation, entrepreneurship and strategies for dealing with a changing world, has died.
What term is used for describing the offering and its value to potential and current customers
Communicating Offerings Communicating is a broad term in marketing that means describing the offering and its value to your potential and current customers, as well as learning from customers what it is they want and like.
What is Mary Parker Follett theory of management
Follett’s incredibly modern-seeming approach has a simple central message: employees will be more engaged, productive, and happy if they’re given autonomy within their roles, if they’re treated as intelligent individuals, and if they’re allowed to work cooperatively.
What are the 5 benefits of strategic management?
- Discharges Board Responsibility
- Forces An Objective Assessment
- Provides a Framework For Decision-Making
- Supports Understanding & Buy-In
- Enables Measurement of Progress
- Provides an Organizational Perspective
- The Future Doesn’t Unfold As Anticipated
- It Can Be Expensive
Who said the statement management is the art of getting things done through and with the people informally organized group
Management is the art of getting things done through and with an informally organized Harold Koontz.
Harold Koontz (1909 – Febr.
Which theory of distribution is more valid in modern times
The modern theory of factor pricing provides a satisfactory explanation of the problem of distribution.
It is known as the demand and supply theory of distribution.
Who laid down the 14 principles of management
Henri Fayol was known as the father of modern management. He gave us the famous 14 principles of management.
According to him, the 5 main functions of management are Planning, Organizing, Commanding, Coordinating and Controlling.
Who said management is the art of getting things done through and with the people in formally organized group
According to Harold Koontz, “Management is an art of getting things done through and with the people in formally organized groups.
It is an art of creating an environment in which people can perform and individuals and can co-operate towards attainment of group goals”.
Who is the most successful female entrepreneur
With a net worth of $2.6 billion, Oprah Winfrey is the most famous woman entrepreneur in media and entertainment.
Why is the theory of the firm relevant to strategy
Because the firm is the critical unit of analysis in strategy, we need to define what firms are, how they create value, and what their organizational boundaries are in order to understand their overall performance.
However, this must be done in a manner that is most useful for strategic analysis and decision making.
What is success theory
A CORE THEORY OF SUCCESS As the quality of relationships rises, the quality of thinking improves, leading to an increase in the quality of actions and results.
Achieving high-quality results has a positive effect on the quality of relationships, creating a reinforcing engine of success.
What are the 7 steps of the strategic management process?
- Understand the need for a strategic plan
- Set goals
- Develop assumptions or premises
- Research different ways to achieve objectives
- Choose your plan of action
- Develop a supporting plan
- Implement the strategic plan
What are the 5 steps in the strategic management process
The five stages of the process are goal-setting, analysis, strategy formation, strategy implementation and strategy monitoring.
What is strategic positioning and what are the three principles that underlie it
It means, according to Porter, “performing different activities from rivals, or performing similar activities in different ways.”
Three key principles underlie strategic positioning: Strategy is the creation of a unique and valuable position, which emerges from three sources: few needs, many customers – broad needs,
What are the 3 strategic management
The strategic-management process consists of three stages: strategy formulation, strategy implementation, and strategy evaluation.
Which is considered as the key to success for every manager as they are responsible for ascertaining the decisions made are as per defined objectives
Ans. Controlling can be defined as that function of management which helps to seek planned results from the subordinates, managers and at all levels of an organization.
What is the oldest form of business
A sole trading business is the oldest and simplest form of business organisation as in this kind of business, there is no chaos in the management as a person is single handedly working for the business and also he/she is the single receiver of profit earned.
Who propagated the concept of MBO
Management by objectives (MBO), also known as management by planning (MBP), was first popularized by Peter Drucker in his 1954 book The Practice of Management.
Which of the 4 Ps is the only one that brings revenue
Pricing is one of the four main elements of the marketing mix. Pricing is the only revenue-generating element in the marketing mix (the other three elements are cost centres—that is, they add to a company’s cost).
Who came up with the 4 Ps
The 4 Ps have been associated with the Marketing Mix since their creation by E. Jerome McCarthy in 1960 (You can see why there may have been some need to update the theory).
What are the three theories of firm
The theories are: 1. Profit-Maximizing Theories 2. Other Optimizing Theories 3. Non-Optimizing Theories.
Is not an element of people
Flow of activities is not an element of people.
What is the neo classical theory of the firm
Neoclassical theory suggests that the firm’s level of investment should depend only on its perceived investment opportunities measured by the firm’s marginal Tobin’s q, where marginal Tobin’s q is the value of the investment opportunity divided by the cost of the required investment.
What is the fifth step in the control process
KEY TAKEAWAYS. The control function can be viewed as a five-step process: (1) Establish standards, (2) Measure performance, (3) Compare actual performance with standards and identify any deviations, (4) Determine the reason for deviations, and (5) Take corrective action, if needed.
References
https://tamibrehse.com/9-common-marketing-problems-solve/
https://assemblo.com/guides/what-are-the-7-ps-of-marketing/
https://www.examveda.com/management-is-the-art-of-getting-things-done-through-and-with-an-informally-organized-31698/
https://www.pkotler.org/bio
https://mcqmate.com/discussion/183922/the-most-formal-definition-of-marketing-is
