Dissecting of the Organization and Management Functions...

Dissecting of the Organization and Management Functions An organization is a corporate enterprise which is created by people and managed by people. Various types of forces act upon it. Economic forces set limits for the management for achievements. They create opportunities for management for the action. But these forces do not by themselves determine the nature of the organization and what it has to do. Management does not adapt the organization to the forces of the market. On the contrary it has to find these forces and has to create them. It requires enormous efforts on the part of the management and a huge time to bring changes in the basic nature of the organization for ensuring its growth and success. In fact, how the management makes decisions determines whether the organization is going to continue to prosper or to decline, to survive or eventually to perish. And this is true for successive managements of the organization. Profit and profitability are crucial for the organization. Profitability is not the purpose of but a limiting factor on the organizational activities. Profit is not the explanation, cause, or rationale of the organizational behaviour and decisions, but the test of their validity. All the persons who occupy the directors’ chairs are to be concerned with profitability. The first test of any organization is not the maximization of profit but the achievement of sufficient profit to cover the risks of economic activity and thus to avoid loss. Further, there is the prevailing belief that there is an inherent contradiction between profit and the organization’s ability to make a social contribution. Actually, an organization can make a social contribution only if it is highly profitable. To put it crudely, a bankrupt organization is not likely to be a good...

Marketing and Marketing Management...

Marketing and Marketing Management Marketing management is the management of the marketing activities in an organization and includes management of the processes of planning, organizing, directing, motivating, coordinating, and controlling. It is the process of satisfying the needs and wants of the customers of the organization. Marketing management is an important function of the organization since it brings the organization closer to its customers and consists of establishing a marketing orientated organization with the emphasis on the customer. It is a core component in the organization’s success. Definitions Marketing is a process by which an organization obtains what it needs and wants through creating and exchanging products and value with its customers. In simple words it is the delivery of customer satisfaction at a profit. It satisfies the needs of customers better than the competition. It focuses on the use of all the controllable influences to satisfy the customer. One of the shortest de?nition of marketing is ‘meeting needs pro?tably’. As a managerial definition, marketing has often been described as ‘the art of selling products’. Peter Drucker has defined marketing as ‘Marketing is so basic that it cannot be considered as separate function. It is the whole business seen from the point of view of its final result, that is, from the customer’s point of view’. He has further said that ‘the aim of marketing is to make selling super?uous. The aim of marketing is to know and understand the customer so well that the product or service ?ts him and sells itself. Ideally, marketing should result in a customer who is ready to buy’. Marketing management is a business discipline which focuses on the practical application of marketing techniques and the management of an organization’s marketing resources and activities. Philip Kotler defines marketing as ‘Marketing...