Sonia Kukreja Conflict Management Except in very few situations where the conflict can lead to competition and creativity so that in such situations the conflict can be encouraged, in all other cases where conflict is destructive in nature, it should be resolved as soon as it has developed and all efforts should be made to know the … Read more
Causes of Conflict in an Organization The causes of conflict fall into three distinct categories. Accordingly, these causes can be restructured and placed into one of these categories. These categories deal with communicational, behavioral and structural aspects. Managers must understand the type of conflict situations so that they spend less time while dealing with them. … Read more
Types of Conflict Situations Since conflict has both positive and negative connotations and consequences, it must be looked into and managed for useful purposes. The management must survey the situation to decide whether to stimulate conflict or to resolve it. Thomas and Schmidt have reported that managers spend up to twenty percent of their time … Read more
What is Negotiation? Negotiation is the process of making joint decisions when the parties involved in negotiation have different and opposing preferences. Negotiation has special significance in situations of conflict, whether it is conflict between union and management in organizations or between countries such as China and Japan where negotiations may be required to resolve … Read more
Major Schools of Management Thought The various approaches to the study of management as propounded by specialists from different disciplines have come to be called the Schools of Management Thought. The Major Schools of Management Theory are: 1. Management Process School 2. Empirical School 3. Human Behaviors or Human Relations School 4. Social School 5. … Read more
Different Sales Forecasting Techniques/Approaches The approaches to forecasting include the causal and non-causal approaches. In the causal approach, the business has no control over the causal variables in society. These variables include gross national product, population, and general economic conditions. However, a business does exercise some control over its prices, advertising, production lines, and the … Read more
McKinsey’s 7-S Framework McKinsey’s 7-S Framework has received considerable attention from management consultants and strategists. This framework was developed in late 1970 by McKinsey, a well-known consultancy firm in the United States. This framework is based on the proposal that effective organizational change is best understood in terms of the complex relationship between hard elements … Read more
Elements of Positioning Positioning is the perception or the image that customers have of the company and its products. A company has to select the target market in which it will offer its products. It will have to determine the differential value that it will provide to customers to make the product attractive to them, … Read more
Product Mix Modifications A company’s product mix is never static. Customer’s preferences change, new customer segments emerge, and company’s competencies and priorities change. All these changes warrant a change in a company’s product mix. Product Mix Expansion Product mix expansion is achieved by increasing the depth within a particular product line i.e. new brands or … Read more
Price Wars A company can fight a price war without eroding its brand equity and profits. Besides retaliatory price cutting, there are other ways of reacting to price cuts initiated by a competitor. Of all the variables of a company’s marketing strategy, it takes the least time for executives to make changes in their pricing … Read more
Pricing Cues Pricing cues should be planned, implemented and measured, to track their success. Long term organizational perspective should be uppermost while deciding on these cues. Customers do not have an accurate sense of prices of the items they are buying. And surprisingly most customers do not make any big effort to know the true … Read more
Consumption and Pricing Consumption of the offering is important to retain customers and to generate positive word of mouth about satisfaction. Pricing methods must be adjusted accordingly. If a customer pays regularly for the service he is using, he is steadily reminded of the cost, he is incurring and is more likely to use the … Read more
Price Sensitivity Companies can reduce price sensitivity of customers and have more scope for moneuvring their Pricing strategies. Price sensitivity of customers will determine the latitude that a company will have in increasing its price. A company should know the price sensitivity of its customers and the factors affecting it. In certain situations a company … Read more
What is Management? Management is essential for an organized life and necessary to run all types of management. Good management is the backbone of successful organizations. Managing life means getting things done to achieve life’s objectives and managing an organization means getting things done with and through other people to achieve its objectives. Whether management … Read more
Defining Innovations Innovations may be looked at from various perspectives. The following classification presents the perspectives of the customer and the target market. Innovation from Customer’s Perspective Innovation can be of 3 types, on the basis of extent of change they cause in consumer’s existing habits. – Discontinuous innovations, Dynamically continuous innovations and Continuous innovations. … Read more