Marketing is the organization function charged with defining customer targets and the best way to satisfy their needs and wants competitively and profitably. Because consumers and business buyers face an abundance of suppliers seeking to satisfy their every need, companies and not-for-profit organizations cannot survive today by simply doing a good job. Marketing is often dynamic, challenging and rewarding. It [...]
Everything you need to know about the modern approach to management. The modern approach to management was developed around the year 1950. This approach is an improvement upon both the classical and neo-classical approach to management. Modern approach to management has three basic pillars: I. Quantitative Approach II. System Approach III. Contingency Approach. Modern Approach to Management: Quantitative Approach, System [...]
Everything you need to know about the contingency approach to management. Contingency approach integrates the various other approaches to the management developed earlier. This is also called the "Situational" approach. According to it, the major premise is that there is no one best way to handle any of the management problems. In any situation, the principles and practices of management [...]