February 26, 2017

Harvard Businness Review - 10 Must Reads 2015 - Information and Interesting Points




This collection includes:

"Beware the Next Big Thing," by Julian Birkinshaw;

"The Capitalist's Dilemma," by Clayton M. Christensen and Derek Van Bever;

"The Focused Leader," by Daniel Goleman;

"The Big Lie of Strategic Planning," by Roger L. Martin;

"Contextual Intelligence," by Tarun Khanna;

"How Netflix Reinvented HR," by Patty McCord;

"Blue Ocean Leadership," by W. Chan Kim and Renee Mauborgne;

"The Ultimate Marketing Machine," by Marc de Swaan Arons, Frank van den Driest, and Keith Weed;

"Your Scarcest Resource," by Michael Mankins, Chris Brahm, and Gregory Caimi;

"How Google Sold Its Engineers on Management," by David A. Garvin;

"21st-Century Talent Spotting," by Claudio Fernandez-Araoz.


https://hbr.org/product/hbr-s-10-must-reads-2015-the-definitive-management-ideas-of-the-year-from-harvard-business-review-with-bonus-article-the-focused-leader-the-mckinsey-award-winner-by-daniel-goleman-hbr-s-10-must-reads/15037-PBK-ENG

February 24, 2017

A to Z: 2017 Blogging Challenge - Top Management Challenge Areas






A to Z: 2017 Blogging Challenge 


Theme: Top Management Challenge Areas


The blogs will be visible one every day during April 2007 starting from 1st April.

1. Awareness of Environment

2. Brain Stilling - Brain Storming for Effective Decisions

3. Coordination

4. Deal Making and Negotiation

5. Energizing

6. Fraternity  Building

7. Goal Alignment and Employee Involvement

8. Health of Organization

9. Innovation for Growth - Revenues, Profits, Potential Market, Knowledge Capital

10. Job Redesign for Effectiveness, Efficiency and Employee Satisfaction

11. Knowledge Management

12. Liquidity, Solvency and Profitability - The Finance Challenge

13. Manufacturing/Production Management - Production of Goods and Services

14. No Waste Philosophy - Industrial Engineering and Work Simplification

15. Organizing Resources and Acquiring Them - The Supply Chain

16. Productivity Management

17. Quality Management

18. Redesign - Design Iterations

19. Society Development - Social Service by Corporate Concerns

20. Technology Management

21. Utility - Value to Customer

22. Value Statement of the Organization

23. Wandering to Manage - Shop Floor and Office - Observe the Action to Plan and Control

24. Xerophilous Organization - Surviving the Business Cycles

25. Youthful Organization

26. Zeal - Earnestness to Serve and Survive

My Important Project Using The Articles in This Blog


MBA Core Management Knowledge - One Year Revision Schedule






A to Z: Management -  Blog Posts by Narayana Rao (Earlier Year Challenges and Regular Blogging)




Letter "A"

1. Adoption of New Products and Processes
2. April - Management Knowledge Revision
3. Advertising

 Letter "B"

Brand Building Update 2015

Business Firm and Society - The External Environment, Social Responsibility and Ethics - Review Notes
Business Conceptualization - Management Insights from Economics, Engineering Economics, Managerial Economics, Industrial Economics
Branding

Letter "C"  -

Culture Change Management Process

Channels of Distribution
Letter "D" -

Distribution Warehouse

Discount Policy
Demand


 Letter "E"-

Efficiency Improvement - Need and Role of Industrial Engineering

Excellence
 "F" -

Finance for Non-Finance Managers

Foresight
 Letter "G" -

Goal Setting for MBO


Letter "H" -

Human Resource Training - Role of Indicated Reading Lists

Health
 Letter "I" -

Innovation Marketing

Innovation
 Letter "J" -

Job Design

Job Satisfaction


 Letter "K" -

Knowledge Management Software Packages

Knowledge Management
Letter "L" -

Location of Production Facilities

Leadership Development
Letter "M" -

Market Orientation

Make in India Campaign - Industry Sectors Information
Motivation

Letter "N" -

Needs and Wants - Marketing Concepts

New Products
Letter "O"

Organizational Sociology

Organizing

Letter "P"

Product Development

Productivity

Letter "Q"

Quantitative Thinking for Management

Quality

 Letter "R"  -

Relaxation During Work Day - Recovering from Fatigue

Research

Letter "S" -

Six Sigma - Zero Defect Movement Systematized

Salesmanship

Letter "T"  -

The Role of Theory in Practice of Engineering and Management

Training

Letter "U"  -

Understanding Marketing Productivity

Utlility

Letter "V" -

Value Engineering - Recent Developments

Vision

Letter "W" -

Work-Methods Science

Waste Elimination

Letter "X"  -

X Reminds me of Theory X


Letter "Y" -

Y Reminds me of Theory Y


Letter "Z"  -

Z Reminds me of Theory Z

A to Z - 2015 Challenge


A to Z: 2015 Blogging Challenge - Index for Management Articles by Professor Narayana Rao


To Know More About A to Z Blogging Challenge

http://www.a-to-zchallenge.com/

April 2017 - Posting Schedule - Letters


1 Saturday  A
2 Sunday
3. Monday B
4.Tuesday C
5    D
6  E

9 Sunday


------------------------------



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Updated 27 Feb 2017,  3 December 2016

Marketing Research, Market Research and Market Intelligence



Marketing Intelligence - Introduction


If an individual or firm has an interesting product or service idea for offering to market, how will they know whether people like it and want to buy it? If they are willing to buy it, what price are they willing to pay? What quantity they will buy? Marketing research, an activity of marketing, will provide answers to these questions. Marketing research is the process of collecting, analyzing, and reporting marketing information that can be used to answer questions or solve problems so as to improve a company’s top line, sales revenue.  Marketing research includes a wide range of activities of enquiry related to marketing questions. Market research is a narrower activity. Market research is the process of researching a specific market to determine its size and trends.



The many marketing questions that marketing research can help to answers include the issues related to:

Developing product ideas and designs
Determining if there is demand for a product to decide whether or not to produce it
Identifying market segments for a  product
Making pricing decisions
Evaluating packaging types
Evaluating in-store promotions
Measuring the satisfaction of customers
Measuring the satisfaction of channel partners
Evaluating the effectiveness of the Web site
Testing the effectiveness of ads and their placement
Making marketing channel decisions

Market Intelligence


Market intelligence is also an important marketing research activity and is often referred to as competitive intelligence. Marketing research is generally commissioned to solve a specific marketing problem at a specific point in time as a project. Market intelligence involves gathering information on a regular, ongoing basis to stay in touch with what’s happening in the marketplace related to company's offering.


Marketing Research and Market Demand Forecasting


http://catalog.flatworldknowledge.com/bookhub/reader/2030?e=fwk-133234-ch10

February 23, 2017

Marketing Research and Market Demand Forecasting


Marketing Management Revision Article Series





Marketing Information System


Every marketing department has to put in place marketing information system.

Marketing information system consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely and accurate information to marketing decision makers. (Kotler)

Internal records on orders, sales, prices, inventory levels, receivables, payables etc. are part of the marketing information system and they have to be organized for providing information to marketing personnel. The internal records provide information about the actual results.


Marketing Intelligence System


Marketing intelligence system is a set of procedures and sources used by marketers to obtain every day information about pertinent developments in the marketing environment (Kotler)

Marketing intelligence focuses on current happenings.


Marketing Research System


Marketing research is formal study of future opportunities and current problems.

Kotler's definition of marketing research:
"Marketing research is the systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company.

Kotler emphasised market research, research into a particular market is only one component of marketing research activities. Kotler gave as illustration of marketing research product-preference test, sales forecast by region and advertising evaluation.

John Tanner and Mary Anne Raymond (chap. 10) list more applications of marketing research.


Developing product ideas and designs
Determining if there is demand for a product
Identifying market segments for the product
Pricing preferences of customers
Evaluating packaging types
Marketing channel preferences
Evaluating in-store promotions
Measuring the satisfaction of  customers
Evaluating the effectiveness of the Web site
Testing the effectiveness of ads and their placement
Measuring the satisfaction of  channel partners



The Marketing Research Process


Five steps are involved in marketing research

1. Defining the problem and research objectives

The starting for research is the research problem and its objectives. The marketing manager sponsoring the research and the marketing researcher have to agree on them. Kotler explained this step using the example of a proposal to provide phone call facility to airline passengers. The telecommunication company indicated that cost will be $1000 for flight. So an initial idea was that the call can be charged at $25 and around 40 persons using the service would result in breakeven. But when the research question or problem was finalized, the issue was broadened to give a wider scope to the issue. The problem was stated as "Will offering an in-flight phone service create enough incremental preference and profit for American Airlines to justify its cost against other possible investments that American might make?"

Further more detailed questions were the following:
1. What are the main reasons that airline passengers need to make phone calls while flying?
2. What category of passengers are likely to make most phone calls?
3. How many phone calls will be made at different price levels?
4. Will more passengers travel by the Airline due to this service?
5. How much good will will be earned by the Airline by becoming the first airline to provide this service?
6. How important is phone service provision in relation to improving flight schedules, food quality and baggage handling.

Thus the questions are very specific in this example of research study. But in every research study, such specific questions may not be possible.


Some research can be exploratory. In exploratory research preliminary data is gathered to shed light on the nature of the marketing situation. (At this stage the research has no prior guidance or knowledge of the phenomenon either through internal information or through external information) Research projects can also be descriptive. In this type of study, magnitudes can be estimated. How many persons will you a particular product? (To estimate magnitudes, first based on exploratory research, relevant variables which are to be measured have to be decided. Then scales or measuring instruments for measuring them have to be developed). Research studies can also find cause-effect relations which investigate the response of people to certain actions given as stimulus. Marketers are interested to know the response of users to increased advertisement, sales promotion etc.

2. Developing the research
Research plan development includes decisions on data sources, research approaches, research instruments, sampling plan and contact methods.

Data Sources: For answering some research questions, secondary data may be available. If secondary data is not available primary data is to be gathered. Gathering primary data will result in higher expenses.

Research Approaches: Observation, Focus group discussion, Surveys, Behavioral data, and Experiments.

Behavioral research is based on store buying data linked to various socioeconomic data. This gives the behavior people classified into various clusters.

In experiments, various stimuli  in terms of advertisement, sales promotion, packaging can be tried on experimental groups and control groups and the difference in behavior can be observed to answer the research questions.

Research Instruments:  Questionnaires, Qualitative Measures, Technological Devices

Sampling Plan

Sampling Unit and Sampling Frame

Sample Size

Sampling Procedure: Normally random samples are preferred as we get error estimates.

Contact Methods: Mail contacts, Telephone contacts, Personal contacts, Online contacts,

3. Collection of the information
Data is collected using the instruments developed for the project.

4. Analysis of the information
The information is tabulated and measures that give the desired answer are calculated.

5. Presentation of the findings.
The research report is to be prepared for circulation to various decision makers.

In the fifteenth edition, Kotler and Keller, the marketing research question is slightly changed to reflect the current prices of providing internet services. The answer was provided that at $25 per the trip 5 persons will use the wi-fi service and at $15, six will use the service. Therefore, pricing the service at $25 is advisable. Per service, the revenue is $125. We can calculate the annual revenue by multiplying by number of days the service is offered in a year.

6. Make a Decision



The Characteristics of Good Marketing Research

Kotler listed seven characteristics

1. Research creativity
Research is done to help in marketing decision making. Right from defining the objective of research to the submission of the report, effort has to be made by people involved, to come out with ideas that would help the firm in a significant way. Creativity means generation of number of alternatives so that the best way of doing a project or task of a project is selected and pursued.

2. Scientific method

3. Multiple methods: Business decisions involve expenditures to get expected profits. Using multiple methods to confirm a finding is preferred rather than stopping with a method that gives a positive answer.

4. Interdependence of models and data: The model chosen for doing the research determines the data to be collected based on the concepts involved in the model.

5. Value and cost of information: Marketing researchers have to understand the value of the information and come out with designs that cost less than the value of the information.

6. Healthy skepticism: Researchers should not accept opinions and conclusions made by marketers about the marketing issues and have to develop research studies that test these opinions and conclusions. This is healthy skepticism.

7. Ethical marketing: Good marketing research has to benefit both the sponsoring company and consumers. Self serving research studies increase consumer resentment. Marketing research companies have to develop unbiased approach to doing marketing research studies.



Updated 26 February 2017,  15 Jan 2015, 10.12.2012

Market Segmentation and Selection of Target Segments



Marketing Management Revision Article Series




Buyers for a generic product constitute a market. Market can be segmented in a number of ways.
_______________________________________________________________________

Target Market



Buyers for a generic product constitute a market. But different buyers may have different preferences for attributes of a generic product. A marketer may have to focus on a particular group of potential buyers for a product with specific attributes. This focus is termed as targeting. Market segmentation is the effort to isolate groups of potential buyers having similar preferences for attributes of a product. Instead of mass marketing a single product, segmented marketing is done at four levels: segments, niches, local areas and individuals.

Targeted marketing also referred to as differentiated marketing. It means that the firm  may differentiate some aspect of marketing (offering, promotion, price) for different groups of customers selected. Mass marketing, or undifferentiated marketing involves selling the same product to everybody. Automaker Henry Ford was very successful at mass production and mass marketing. Ford pioneered the  assembly line early in the twentieth century, which helped him to produce large number of identical Model T automobiles and allowed him to realize cost reduction year after year. They came in only one color: black. “Any customer can have a car painted any color he wants, so long as it is black,” Ford used to joke. The affordable Ford car, was bought by large number of Amercians.By 1918, half of all cars on America’s roads were Model Ts.

Then Alfred P. Sloan, the head of General Motors (GM) changed the game. Sloan began to segment consumers in the automobile market—and find the prices different groups of customers wanted to pay and the different cars they wanted to buy. The idea was to offer different car for every target market as per their desires. His efforts were successful, Ford had problems and in the 1950s, GM overtook Ford as the nation’s top automaker.








Markets can be segmented in a number of ways.

Market Segmentation


Two broad groups of variables are used to segment consumer markets. One group of variables is consumer characteristics. The other group of variables is behavioral characteristics. Behavior is consumer response in terms of  benefits sought or  occasions when the product is used.

Consumer characteristics used for market segmentation include geographic, demographic and psychographic characteristics.

Geographic segmentation


Geographic segmentation divides the market into different geographic units such as nations, states, regions, cities and neighbor hood etc.

Demographic segmentation


In this segmentation approach, the market is divided into groups on the basis of variables such as age, family size, family life cycle, gender, income, occupation, education, religion, race, generation, nationality, or social class.

Psychographic segmentation


In this approach to segmentation, buyers are divided into different groups on the basis of lifestyle and/or personality.

Lifestyle


Active lifestyle, country lifestyle, latenighters etc. are some of the segments under this classification

Personality


Markets are being segmented on the basis of personality. Personality is a group of traits exhibited persistently by a person. For example, Ford buyers were identified as independent, impulsive, masculine, alert to change, and self confident, while Chevrolet owners were conservative, thrifty, prestige conscious, less masculine, and seeking to avoid extremes.

Behavioral segmentation


In this approach buyers are classified into groups on the basis of their knowledge of, attitude toward, use of, or response to a product. Some behavioral variables can be usage rate, readiness for buying the product, attitude toward the product, loyalty to the product, and occasions on which the product is used etc.

Multi-attribute segmentation (Geoclustering)


Some marketers are using multiple variables to define target groups. For example using socioeconomic status and lifestyle variables may be combined and market segmentation is done.

Effective Segmentation

To be useful, market segments identified in a segmentation exercise have to be:
  • Differentiable: the segments must have a conceptual basis and they have to respond differently to different marketing mix variable and attribute mix of the product.
  • Measurable: The size and purchasing power of the segments have to be measurable.
  • Substantial: The segments have  to be large enough to serve them with a separate market mix profitably.
  • Accessible: The segments must be accessible to the marketer.
  • Actionable: The company in consideration must be able to create marketing programs for the segments.

Market Targeting


After the doing the market segmentation, the firm has to evaluate the segments for their market potential. Then the company has to decide which and how many segments to serve and how to serve them. The decision alternatives available to the firm are:

Single segment concentration


In the simplest case, the company selects a single segment.

Selective specialization


The firm selects a number of segments, each objectively attractive and appropriate, for the firms objectives and resources. There may be little or no synergy among the segments, but each segment is a money maker on its own.

Full market cover


The firm may attempt to serve all customer groups


Philip Kotler, Marketing Management , Ninth Edition (Main text for revision articles)

http://open.lib.umn.edu/principlesmarketing/part/chapter-5-market-segmenting-targeting-and-positioning/




______________________________________________________________________
Migration from Knol

Marketing articles are available under the label http://nraomtr.blogspot.com/search/label/Marketing%20Management
Article on differentiating and positioning http://nraomtr.blogspot.com/2011/11/marketing-strategy-differentiating-and.html

Planned Revision schedule for marketing chapters is in February and March

Originally posted by me in Knol
http://knol.google.com/k/market-segmentation-and-selection-of-target-segments#

Updated 26 February 2017, 3 December 2011 (First posted in the blog)

Marketing Management Subject Update




Marketing Management Revision Article Series



2017


Article in HBR on Organization of Marketing Department
https://hbr.org/2014/07/the-ultimate-marketing-machine


Dec 2016

https://medium.com/context/tagged/best-of-2016


March 2016

Marketing Managers' Salary Guide for USA - 2016
https://www.ama.org/career/Pages/2016-Marketers-Salary-Guide.aspx

https://hbr.org/topic/marketing

http://knowledge.wharton.upenn.edu/article/imagine-theres-no-marketing-its-easy-if-you-try/

http://knowledge.wharton.upenn.edu/article/six-digital-marketing-traps-that-cmos-should-avoid/

http://knowledge.wharton.upenn.edu/article/small-data-new-big-data/

http://knowledge.wharton.upenn.edu/article/recommended-for-you-how-well-does-personalized-marketing-work/


https://www.ted.com/talks/seth_godin_on_the_tribes_we_lead

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__________________
TED


May 2015

Negotiation: What Makes the Right Business Deal
http://www.forbes.com/sites/ianaltman/2015/05/05/negotiation-what-makes-the-right-business-deal/


Macromarketing
I searched for this topic today in my interest to write an article on the topic marketing support for Make in India Campaign. I found that there a huge literature in the area of macromarketing. The reference I came across today are:

Marketing Theory: Philosophy of Science Perspectives
https://books.google.co.in/books?id=W4phEfAbHBQC


http://en.wikipedia.org/wiki/Macromarketing


April 2015

Marketing communication messages have to be different when you announce a product and build buying intention for it. The communication has to change when the product is actually made available in the market for purchase.  Read the summary of a recent research paper on adoption of products.
http://nraomtr.blogspot.com/2015/04/adoption-of-new-products-and-processes.html


February 2015
Planned Revision schedule for marketing chapters is in February and March

January 2015

Why Your Customers’ Social Identities Matter.

By: Champniss, Guy; Wilson, Hugh N.; Macdonald, Emma K. Harvard Business Review. Jan/Feb2015, Vol. 93 Issue 1/2, p88-96.

People are highly social animals. Most of us belong to many social groups, each with its own identity.

For five years the authors have been studying how social identity affects customer behavior in a wide range of industries. They have seen that companies can trigger more-favorable reactions in customers by subtly influencing which identities they tap into. This is something firms should take into account when doing market research or designing experiences.

The first step is to surface the range of  a customer's  possible identities. If a customer's identity encourages targeted behaviors, marketers can help reinforce it.  Marketers can also work to add a desired behavior to those that customers associate with an identity, prime different identities in customers, and even create new identities that deepen relationships with existing customers and attract new ones.




2014's top The Gunn Reports' Cases For Creativity

1. 1. IBM's 'A Boy And His Atom' Ogilvy & Mat her, USA
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_________________
IBM upload
http://economictimes.indiatimes.com/magazines/brand-equity/2014s-top-the-gunn-reports-cases-for-creativity/articleshow/45952325.cms


2. Evian Baby & Me
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_________________
EvianBabies
99,261,360 views 29 Jan 2015


"Contagious: Why Things Catch on" by Jonah Berger was named the best book of Marketing of 2014
Talk by Jonah Berger
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___________________
Talks at Google upload
http://google.co.in/books?id=J2l7pgwTiW4C  (For previewing the book)

Marketing News - 15 January Issue
http://publications.ama.org/Marketing_News/MN-jan15/index.html

Why Uniqlo Is Winning
By: David Aaker
Uniqlo is Japanese clothing retailer now in top 5 and plans to beat Zara.
https://www.ama.org/publications/MarketingNews/Pages/why-uniqlo-is-winning.aspx


Updated 26 February 2017,  6 Dec 2016, 28 Mar 2016, 11 Dec 2015

February 19, 2017

Leadership - Subject Update




2017

Good Bosses Switch Between Two Leadership Styles
Jon Maner
Jon Maner is a professor of management and organizations at Kellogg School of Management, Northwestern University.
DECEMBER 05, 2016, HBR Article

The two styles are termed Dominance and Prestige. They could have been termed Single Person Dominance (Lone Boxer) and Team Decision Making (Foot Ball Team).
https://hbr.org/2016/12/good-bosses-switch-between-two-leadership-styles

Related
http://jon-maner-dev.squarespace.com/publications-case/the-essential-tension-between-leadership-and-power

https://www.psychologytoday.com/blog/sex-murder-and-the-meaning-life/201606/what-kind-leader-are-you

http://www.cnbc.com/2016/11/01/bossy-vs-buddy-two-leadership-styles-each-with-its-place.html



2016

http://www.leadershipissues.com/

Leadership Freak - A popular blog on leadership      https://leadershipfreak.blog/

What Great Managers Do Daily

Ryan FullerNina Shikaloff
HBR
DECEMBER 14, 2016
https://hbr.org/2016/12/what-great-managers-do-daily

Decoding Leadership: What really matters


Our most recent research, however, suggests that a small subset of leadership skills closely correlates with leadership success, particularly among frontline leaders. Using our own practical experience and searching the relevant academic literature, we came up with a comprehensive list of 20 distinct leadership traits. We did a survey and  found  that leaders in organizations with high-quality leadership teams typically displayed 4 of the 20 possible types of behavior; these 4, indeed, explained 89 percent of the variance between strong and weak organizations in terms of leadership effectiveness .

• Solving problems effectively: The process that precedes decision making is problem solving, when information is gathered, analyzed, and considered.

• Operating with a strong results orientation: Leadership is about not only developing and communicating a vision and setting objectives but also following through to achieve results. Leaders with a strong results orientation tend to emphasize the importance of efficiency and productivity and to prioritize the highest-value work.

• Seeking different perspectives: This trait is conspicuous in managers who monitor trends affecting organizations, grasp changes in the environment, encourage employees to contribute ideas that could improve performance, accurately differentiate between important and unimportant issues, and give the appropriate weight to stakeholder concerns. Leaders who do well on this dimension typically base their decisions on sound analysis and avoid the many biases to which decisions are prone.


2015





The Art of Giving and Receiving Advice.

Full Text Available
Periodical
By: Garvin, David A.; Margolis, Joshua D. Harvard Business Review. Jan/Feb2015, Vol. 93 Issue 1/2, p60-71.


Seeking and giving advice are central to effective leadership and decision making, and they require emotional intelligence, self-awareness, restraint, diplomacy, and patience on both sides. In this article, the authors argue that they are practical skills one  can learn and apply to great effect. The most common obstacles to effectively seeking and giving advice are  thinking one already has the answers, defining the problem poorly, and overstepping boundaries.  They  offer practical guidelines for getting past them.


Five stages of advising are identified: (1) finding the right fit; (2) developing a shared understanding; (3) crafting alternatives; (4) converging on a decision; and (5) putting advice into action. Each stage includes suggestions for seekers and for advisers.



The Authenticity Paradox. 

By: Ibarra, Herminia. Harvard Business Review. Jan/Feb2015, Vol. 93 Issue 1/2, p52-59.

INSEAD professor Herminia Ibarra argues, a simplistic understanding of what authenticity means can limit leaders' growth and impact.  In this article, Ibarra explains how leaders can develop an "adaptively authentic" style.  It's OK to change tactics from one day to the next, she says by figuring  out what's right for the challenges and circumstances we face.




2014

July

The Skills Leaders Need at Every Level
by Jack Zenger and Joseph Folkman
HBR Blog Post
16 Skills are listed in order of importance. Top 7 are said to be important.

1. Inspires and motivates others.
2. Displays high integrity and honesty
3. Solves problems and analyzes issues
4. Drives for results
5. Communicates powerfully and prolifically
6. Collaborates and promotes teamwork
7. Builds relationships
http://blogs.hbr.org/2014/07/the-skills-leaders-need-at-every-level/

Leadership Development Beyond Competencies: Moving to a Holistic Approach
Marian N. Ruderman, Cathleen Klerkin, and Carol Connelly
Center for Creative Leadership - White Paper
http://www.ccl.org/leadership/pdf/research/LeadershipDevelopmentCompetencies.pdf

Book review of Jane Dutton and Gretchen Spreitzer, How to Be a Positive Leader: Small Actions, Big Impact.
http://positivepsychologynews.com/news/kathryn-britton/2014073029174





2013

December
How to be a better boss?
Ask a person whether he wants to recommend his boss to his friends as the ideal boss to work under.
http://sloanreview.mit.edu/article/how-to-be-a-better-boss/

May
Knowledge@Wharton article
Social Technology and the Changing Context of Leadership
Social technology is changing the way leaders do conversations with their group members especially in large organizations. The article presents ideas on this issue
http://wlp.wharton.upenn.edu/LeadershipDigest/social-technology.cfm

2012
Sloan Management Review Article Spring, March 2012
How to Become a Better Leader
The article describes Big 5 Personality factors and use of them in developing oneself as a better leader.
http://sloanreview.mit.edu/article/how-to-become-a-better-leader/


Leadership Basic Articles

Organizational Behavior Articles

Theories of Leadership 
Cognitive Resources Theory of Leadership
Leadership Styles, Roles, Activities, Skills and Development

Principles of Management Articles


Updated  22 February 2017, 6 December 2016, 12 October 2016, 10 December 2015

February 18, 2017

The Marketing Concept - Kotler




The marketing concept holds that the key to achieving organizational goals consists of being more effective than competitors in integrating marketing activities toward determining and satisfying the needs and wants of target markets.
_____________________________________________________________

Marketing - Definition



Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating, offering, and exchanging products of value with others.

A human need is a state of deprivation of some basic satisfaction. People require food, clothing, shelter, safety, belonging, and esteem. These needs are not created by society or by marketers. They exist in the very texture of human biology and the human condition.

Wants are desires for specific satisfiers of needs. Although people’s needs are few, their wants are many. They are continually shaped and reshaped by social forces and institutions, including churches, schools, families and business corporations. People in different societies differ in the way they satisfy their needs.

Demands are wants for specific products that are backed by an ability and willingness to buy them. Companies must measure not only how many people want their product but, more importantly, how many would actually be willing and able to buy it.


Market

A market consists of all the potential customers sharing a particular need or want who might be willing and able to engage in exchange to satisfy that need or want.

Marketers

When one party is more actively seeking an exchange than the other party, we call the first party a marketer and the second party a prospect. A marketer is some one seeking one or more prospects who might engage in an exchange of values. A prospect is someone whom the marketer identifies as potentially willing and able to engage in an exchange of values.


Marketers do not create needs. Marketers influence wants. Marketers influence demand by making the product appropriate, attractive, affordable, and easily available to target consumers. They also communicate their offering to prospects. Society influences wants. People living in different societies prefer different types of food items, different types of apparel and even different types of jewellery.

A product is anything that can be offered to satisfy a need or want. Offering and solution are synonyms to the product in marketing context.

A product or offering can consist of as many as three components: physical good(s), service(s), and idea(s).

Value is the consumer’s estimate of the product’s overall capacity to satisfy his or her needs.

Marketers offer value to a consumer when the satisfaction of customer's requirements takes place at the lowest possible cost of acquisition, ownership, and use.


Marketing management

Marketing management takes place when at least one party to a potential exchange thinks about the means of achieving desired responses from other parties.


Definition of American Marketing Association


Marketing (Management) is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals.


Marketing management has the task of influencing the level, timing, and composition of demand in a way that help the organization achieve its objectives. Marketing management is essentially demand management.

Marketing managers manage demand by carrying out marketing research, planning, implementation and control.


Marketing work in the customer market is formally carried out by sales managers, salespeople, advertising and promotion manages, marketing researchers, customer service managers, product and brand managers, market and industry managers, and the marketing vice-president.





The Marketing Concept





The marketing concept holds that the key to achieving organizational goals consists of being more effective than competitors in integrating marketing activities toward determining and satisfying the needs and wants of target markets.

The marketing concept rests on four pillars: target market, customer needs, integrated marketing, and profitability.


Target market


No company can operate in every market and satisfy every need. Nor can it always do a good job within one broad market.


Customer needs

Marketing is about meeting needs of target markets profitably.

The key to professional marketing is to understand their customers’ real needs and meet them better than any competitor can.

Some marketers draw a distinction between responsive marketing and creative marketing. A responsive marketer finds a stated need and fills it. A creative marketer discovers latent needs (needs not stated but observed or inferred) and produces solutions that customer did not ask for but to which they enthusiastically respond.

Integrated Marketing

When all the company’s departments work together to serve the customer’s interests, the result is integrated marketing.

Integrated marketing takes on two levels. First, the various marketing functions-sales force, advertising, product management, marketing research, and so on – must work together. Second, marketing department must be well coordinated with other company departments.

The company is doing proper marketing only when all employees appreciate their impact on customer satisfaction. To foster teamwork among all departments, the company carries out internal marketing as well as external marketing. External marketing is marketing directed at people outside the company. Internal marketing is the task of successfully hiring, training, and motivating employees who want to serve the customers well. In fact internal marketing must precede external marketing. It makes no sense to promise excellent service before the company’s staff is ready to provide excellent service.


Profitability


The ultimate purpose of the marketing concept is to help organizations achieve their goals. In the case of private firms, the major goal is profit. Marketing managers have to provide value to the customer and profits to the organization. Marketing managers have to evaluate the profitability of all alternative marketing strategies and decisions and choose most profitable decisions for long-term survival and growth of the firm.



Kotler, Philip (1997), Marketing Management, 9th Ed., Prentice Hall, New Jersey.

For Additional  Coverage on this topic in 14th Edition Visit
Philip Kotler - Keller Definition and Explanation of Marketing Management for 21st Century - 14th Edition


Dr. Kotler's Presentation on Marketing in 2012

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Related Articles

Kotler and Keller - 14 Edition Marketing Management Brief

30 Day MBA Self Study Course - Free Notes

February Management Knowledge Revision Plan

Planned Revision schedule for marketing chapters is 22 February to 16 March

Updated 22 February 2017, 18 February 2016, 22 Feb 2015, 10 Jan 2015, 13 June 2014

Originally posted in
http://knol.google.com/k/the-marketing-concept-kotler

February 2, 2017

Summary - Principles - Organizing




Principles in Relation to Purpose



Principle of unity of objectives


An organization structure is effective if it as a whole, and every part of it, make possible accomplishment of individuals in contributing toward the attainment of enterprise objectives.

Modified to bring in things into the principle


An organization structure is effective if it as a whole, and every part of it, make possible accomplishment of individuals (in combination with things given to him for operating and utilizing) in contributing toward the attainment of enterprise objectives.

Principle of efficiency

An organization or organization structure is efficient if it is structured to make possible accomplishment of enterprise objectives by people with minimum unsought consequences or costs.


Modified to bring in things into the principle


An organization or organization structure is efficient if it is structured to make possible accomplishment of enterprise objectives by people (and things given to them to utilize) with minimum unsought consequences or costs.





Principles Related to the Cause of Organizing




Span of management Principle


There is a limit at each managerial position on the number of persons an individual can effectively manage. But this number is not a fixed number and it will vary in accordance with underlying variables of the situation.


Modified to bring in things into the principle


There is a limit at each operating position on the number of machines or equipments an individual can effectively operate. But this number is not a fixed number and it will vary in accordance with underlying variables of the situation (Japanese managers increased the number of machines to even 100 and ultimately into fully automated production systems requiring zero operating personnel).


Principles in Developing the Structure of Organization




The scalar Principle


The more clear the line of authority from the ultimate authority for management in an enterprise (CEO) to every subordinate position, the more effective will be decision making and organization communication at various levels in the organization.



Principle of delegation


Authority is a tool for managing to contribute to enterprise objectives. Hence authority delegated to an individual manager should be adequate to assure his ability to accomplish results expected of him.





Principle of responsibility


The responsibility of the subordinate to his superior for authority received by delegation is absolute, and no superior can escape responsibility for the activities of his subordinate to whom he in turn has delegated authority.



Principle of parity of authority and responsibility


The responsibility exacted for actions taken under authority delegated cannot be greater than that implied by the authority delegated, nor should it be less.



Principle of unity of command


The more completely an individual has a reporting relationship to a single superior, the less the problem of conflict in instructions and the greater the feeling of personal responsibility.



The authority level Principle


Maintenance of authority delegation requires that decisions within the authority competence of an individual manager be made by him and not be referred upward in the organization.



Principles in Departmentizing Activities



Principle of division of work


The better an organization structure reflects a classification of the tasks and activities required for achievement of objectives and assists their coordination through creating a system of interrelated roles; and the more these roles are designed to fit the capabilities and motivations of people available to fill them, the more effective and efficient an organization structure will be.

Principle of functional definition


The more a position or a department has clear definition of results expected, activities to be undertaken, organization authority delegated, and authority and informational relationships with other positions, the more adequately individual responsible can contribute toward accomplishing enterprise objectives.

Principle of separation


If an activity is designed to be a check on the activities of another department, the individual charged with such activity cannot adequately discharge his responsibility if he reports to the department whose activity he is expected to evaluate.


Principles in the Process of organizing




Principle of balance


The application of principles or techniques must be balanced in the light of the over-all effectiveness of the structure in meeting enterprise objectives.

Principle of flexibility


The task of managers is to provide for attaining objectives in the face of changing environments. The more provisions are made for building organization flexibility, the more adequately organization structure can fulfill its purpose.

Principle of leadership facilitation


The more an organization structure an authority delegations within it make possible for various managers to design and maintain an environment for performance, the more it will facilitate leadership abilities of managers.



Note: Principle of efficiency is there in Principles of Planning also.


Review Articles on Steps in Organizing

The Nature of Organizing - Review Notes
Departmentation in Organizations - Review Notes
Line-Staff Authority and Decentralization - Review Notes
Effective Organizing and Organizational Culture - Review Notes

References


Harold Koontz and Cyril O’Donnell, Principles of Management: An Analysis of Managerial Functions, 4th Ed., McGraw-Hill, New York, 1968

Harold Koontz and Cyril O’Donnell, Principles of Management: An Analysis of Managerial Functions, 2nd Ed., McGraw-Hill, New York, 1959

Updated  4 February 2017,  5 Jan 2015,  7.12.2012


Revision of Principles of Management in January Revision Plan.


MBA Core Management Knowledge - One Year Revision Schedule

February 1, 2017

Societal Direction System - Yehezkel Dror



According to Yehezkel Dror, knowledge in the area of societal direction system is scarce.

Google Book Link as Reference

One full article of Yehezkel Dror
http://files.eric.ed.gov/fulltext/ED052521.pdf


Also visit page 25 of this book

https://books.google.co.in/books?id=EkSGOKiMcy0C

http://shodhganga.inflibnet.ac.in/bitstream/10603/11382/8/08_chapter%201.pdf

Pubic Policy Making Reexamined - Yehezkel Dror - Google Book Link
https://books.google.co.in/books?id=XbXBMX37hqYC


Thoughts of various thinkers in the area of public administration summarized

https://atulkulkarni123.wordpress.com/tag/significant-works-and-ideas-of-thinkers/



First posted on 2 February 2017.