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Tag Archives: Management

Expansion Or Diversification Which One Is Better

The management of a corporation should think many factors before its capacity of production is to be increased. Here are some points to be noted when the management of a corporation wants to increase the capacity of production or want to diversify its products. Prior to a corporation diversifies, the probability of growing in the existing product line should be considered as it may assist in gaining a larger market share for the present business of the corporation. In terms of implementation, expanding the present activities of the corporation is …

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How Does Marketing Improve Standard Of Living

Paul M. Mazur defined marketing as the “delivery of standard of living.”What do we mean by that? How Does Marketing Improve Standard Of Living? By way of illustration consider this contrast: 50 years ago in America an orange was something which even in better-income families made its appearance only once in a year, in the Christmas stocking. Today orange juice and citrus fruits generally are a daily commonplace of the American breakfast table. Illustration could be multiplied by thousand times over. What causes changes of this type ? To be …

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Importance Of Marketing In Modern Society

In a modern society, the importance of marketing can hardly be over-emphasized. In the affluent societies, marketing is regarded as the delivery of the standard of living. The development of large-scale production depends upon the ever expanding markets. To cure the problems of unemployment and overpopulation the balanced growth of both industry and agriculture is vitally important. The balanced growth is largely dependent upon the quick inter-sectoral transfer of resources. Since marketing can quicken the process of distribution of resources from one sector to the other, it helps the balanced …

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Difference Between Market And Marketing

Before making any Difference Between Market And Marketing, let see how Marketing Guru P. Kotler has defined Marketing. According to him “Marketing is the analyzing, organizing, planning and controlling of the firm’s customers-impinging resources, policies and activities with a view to satisfying the needs and want of chosen customer groups at a profit.”  Philip Kotler’s definition is used for three reasons: (1) It suggests the three main elements of modern marketing concept; that is, integrated marketing   to create customer satisfaction at a profit. (2) It specifies that marketing comprises the …

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What Is Marketing – Comprehensive Definitions By Marketing Gurus

There has been a remarkable departure in the economic patterns and role of consumers. As such in the marketing process, the definition and scope of marketing which were true in the past will not certainly be adequate now. In the early days when every family was a self-sufficient economic unit, there was no necessity of exchange and marketing was unknown to people. But with the growth of population, specialization took place gradually and as a result emerged the necessity of exchange of surplus commodities. At that stage of economic development …

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Results of a Study on Stress in Students

stress in students

This is not very surprising: Canadian students are stressed in their studies. This is what reveals a study by Su-Ting Teo Ryerson University in Toronto. The result of the study is relevant in the context of studies in Accounting at the top level as these are undeniably challenging. What is more surprising is the details of the study, which show such as university and college students feel overwhelmed, alone and some are considering suicide in the last year of work that leads to graduation. Many feel overwhelmed and hopeless. It …

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How to Prevent Fraud in Company

Fraud prevention

Prior to the detection of fraud in a business, one must ideally try to prevent it. This article will focus on accounting and accounting auditor and their roles in the context of fraud prevention. We will not discuss the aspect of forensic accounting in this article. Increasingly, accountants and auditors are in the front-line to detect and especially prevent corporate fraud. Since it is they who provide assurance on the data presented in the financial statements, they are well placed to detect problems related to internal controls, the company’s operations. …

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Relationship Analysis Between Accounting Firms And Companies

Relationship analysis

The current situation of SMEs SMEs past decades were not the same as today. In fact, small businesses are well advanced in recent years and their managers with them. He long ago, small businesses composed of two or three employees who mastered a specific art, they were artisans! Over time, business owners have moved from craftsmen to managers. It is the evolution of Western culture, the available training and access to higher education which has enabled a large majority to know in depth the bottom of their craft and developing …

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Michael Porter 5 Competitive Forces Model

Michael Porter 5 Competitive Forces Model

Using the model of five competitive forces of Porter is often done following analysis of the business environment (conducted via the PESTLE model). The model of 5 forces as the name suggests, focuses on the analysis of the current and future competition leads to the creation of opportunities or threats for the company. The model thus serves to facilitate the identification of opportunities and threats related to the immediate and future competition. The competitive analysis of a company is essential because competition is inherent in the business. Indeed, it is …

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Advantages and Disadvantages of Individual Enterprise

There are several opportunities for entrepreneurs at the business registration. One can think of the corporation, the partnership, trusts, etc. Individual company offers several advantages and disadvantages to its leaders. In the West, it is the most popular business form, more than 70% of companies are sole proprietorships. Yet it is clear that the popularity of individual business mainly comes from its accessibility and its simple management. People are not always informed about the risks and disadvantages that come with running a sole proprietorship. So let’s take a moment to …

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