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Busnies management

Extracts from this document...

Introduction

Johan Odendaal 2009BUD005 Business Management Index Question 1 * Difference between marketing and sales * Classification of consumer products on the basis of consumer buying habits * Definition of product differentiation Question 2 * The marketing process Question 3 * Definitions and ratios of financial concepts Question 4 * Human resource * Public relations * Operations * Purchasing and supply Question 5 * Definition of productivity * Productivity problems experienced in South Africa Question 6 * Economic and environmental factors enhancing productivity Question 7 * Components of globalization * Causes of globalization * Measuring globalization Question 8 * Components of globalization * Causes of globalization * Measuring globalization Bibliography Question 1 Difference between marketing and sales Marketing involves the process of managing task and decisions to successfully meet opportunities and threats. They do this by developing and transferring an offering to consumers in such a way that the objective of the business, the consumer and the society is achieved. Sales are when managers or employees are physically selling the products to consumers in the shop. The consumer goes to the company and buys the product from the person responsible for selling it. Classification of consumer products on the basis of consumer buying habits * Convenience products These products are products that are within easy reach of the consumer, for example sweets or cigarettes. The quality and prices of these products are basically all the same and you don't need to go through a lot of trouble ...read more.

Middle

The main elements of public relations are: * It is a deliberate activity * It is a planned activity * It is a sustained activity * It is a communication process * It deals with publics - both internal and external Operations The operating function focuses on the transformation process. The function and management of operations is in other words responsible for creating a product and or giving a service to achieve the goals of the business. You can also say that the operations function takes resources to produce a product and/or service. Purchasing and supply This function focuses on providing the right materials, services and equipment at the right price, satisfy quality needs, and that they are delivered at right place and time and in the right quantities. In other words purchasing and supply management involves the planning, organizing, leading and control of all actions associated with the purchasing of materials or services from an external supplier. It also aims at maintaining and rising the businesses profitability and efficiency of client service. The purchasing and supply function must: * Select suppliers * Purchase and arrange for materials to be transported to the business * Decide what prices they will choose * Decide on the quantity and quality of materials or services * Speed up and receive materials * Control the materials in the warehouse and the holding of the stock * Determine the timing of purchases Question 5 Definition of productivity Productivity can be defined as the ratio between goods and services produced (output) ...read more.

Conclusion

Knowledge management is introduced to increase workplace efficiency, save time, reduce costs and retain, re-use and exchange knowledge. Intellectual assets Intellectual assets is a term used for indicating the knowledge that has been acquired by a company from its employees, it is a process of identifying, collecting, storing and transforming data and information. Knowledge hierarchy The knowledge hierarchy consists of three blocks namely data, information and knowledge. * Data is the most basic building block in the knowledge hierarchy. * Data becomes information when it is sorted in a logical manner. The data has been given meaning. * Knowledge is an organized body of information; it shapes the foundation of insights and opinions and judgments. Benefits of knowledge management * Less frustration Staff has easy access to information. * Better customer service Staff can easily find information needed by a client. * Decreased vulnerability when staff leaves Work processes of staff are documented, which makes it easier for some who comes in new to just pick up on the tasks without confusion. * Increased competitiveness. Management can notice much easier where strong and weak points are. * Improved productivity By having the right information they don't have to waste time looking for it. * Improved internal communication and teamwork * Possibility of automation some tasks This can happen when enough information has been collected. * Improved market forecasting The company can easily adjust inventory and other expensive products by using the knowledge manager's forecasts of supply and economic problems. ?? ?? ?? ?? ...read more.

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