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Management applying 10 management theories - Case Study Example

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One of the most probable questions that can be formulated with respect to the case study includes how important the market is with regard to the overall success of a business. It should be noted that the market is the main reason as to why the business is working in the…
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Management case study applying 10 management theories
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Download file to see previous pages Bearing in mind that the traditional methods of competitive advantage may not apply to the modern business sector, market segmentation and appropriate targeting can also act as a competitive advantage. However, to take advantage of this, the organization ought to devise reliable ways of undertaking market research, which requires the right employees who can only be acquired through recruitment and selection. Although the organization may decide to undertake internal recruitment, it is usually recommended to undertake external recruitment through advertisements, referrals, and the Internet. This provides a new set of skills for the organization that can be used to capitalize on market segmentation and targeting. In spite of this advantage, this also requires additional resources that mean additional expenses that organizations take lengthy discussions to deal with.
To accomplish the required outcomes, the organization ought to understand the impact that rational decision making can have towards the realization of this quest. Rational decision making incorporates several steps that begin with the identification of a problem, formulation of alternatives, implementation of the most appropriate solution, and evaluation of the impact that the implemented solution has. In most cases, this process favors logic, analysis as well as objectivity. Since marketing is an issue in the organization, as indicated in the case study, this provides information on the problem to be resolved while the next step would involve several alternatives that may include increasing supply or even identifying areas to supply specific products. This is because the research would provide information concerning customer preferences, which is very important to organizations. Once the most appropriate step has been agreed upon and implemented, the final step is very important ...Download file to see next pagesRead More
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