Type: Process Essays
Sample donated: Maxine Simpson
Last updated: September 23, 2019
Acknowledgment Thesuccess and final outcome of this assignment required not only hard work, butalso a lot of guidance and assistance from many people.Firstand foremost, I wish to express my sincere gratitude to the lecturers at ICBTfor their constant guidance and support. And I must mention that I’m highlyindebted to them.Next,I would like to express my heartfelt gratitude towards my parents for theirkind co-operation and encouragement which helped me in completion of thisassignment.Finally,I thank and appreciate everyone who directly or indirectly helped me out indeveloping the assignment.Thankyou. Executive SummaryThisreport has been compiled after an intensive research online and knowledge fromclassroom studies.
Thisreport supplies detailed information on Management, Marketing and Humanresource management.Thisreport examines the functions of management and gives a brief description ofHenry Mintzberg’s Managerial Roles and the skills needed for managers.Thisreport defines marketing and explains the evolution of marketing concepts andthe 7PS of marketing. Moreover this report highlights what a PESTEL Analysis isand how important it is in the business culture and shows what a significantrole it plays on an organization.Thisreport will give answers on how human resource management plays a vital andimportant role in the long term success of an organization. IntroductionThisreport evaluates the functions of management and the aim of this report is toprovide an understanding of how marketing, research, planning and marketing mixare used in all organizations.Thisfocuses on how businessmen market their products and how they hire employees totheir organization.The’Natures Secrets’ has been taken as an example in order to give a clearunderstanding on the vision, mission and core values of an organization.
Listof FiguresFigure 1. 6Figure 2. 9Figure 3. 14 Task 11.1 Functionsof ManagementThefive main functions of management are, i.Planning Planningis setting a goal and determining the best method to use in order to achievethat specific goal.
ii.OrganizingTheorganizational structure is the foundation of a company and without thisstructure the day to day operations of the business becomes difficult andunsuccessful iii. Staffing Themain function of staffing is recruiting the right people for the right job inorder to achieve the targets of that particular organization.iv. CoordinatingThecoordinating functions of leadership controls all the organizing, planning andstaffing activities of the company and ensues that all activities functiontogether.
v. ControllingControllingis setting performance standards and observing the results of employees thatare expected for satisfactory job performance. 1.2 Henry Mintzberg’s RolesInhis book “Mintzberg on Management”, Henry Mintzberg has explained 10 manger palrules and the skills needed for managers. Figure 1 i.The Figurehead explains that as a manager, he is expected to be a source ofinspiration. People work up to you as a person with authority. ii.
As a leader it is you who should provide leadership for your entireorganization.iii.Liaison – being a manager you should be able to communicate properly.iv.Monitor – you regularly seek out information related to your organizationwithout the infection of making any changes if necessary.v.
Disseminator – this is where you communicate information to your team.vi.Spokesperson – as a manager you are responsible for transmitting informationand goals about your organization to the outsiders, on behalf of theorganization.
vii.Entrepreneur- being a manager he should make changes within the organization.He should have innovative ideasviii.
Disturbance handler – conflicts arising within an organization is common and atrivial matter. But if the manager doesn’t get involved immediately trivialmatters can turn into huge problems.ix.Resource allocation – the resource allocator administer resources of all types,including time, funding, equipment and human resources.
And also describes theresponsibility of allocating and overseeing financial, material and personalresources. x.Negotiator – The manager participates in negotiations with other organizationsand individuals and represents the interests of the organization.Forinstance, salary negations with respect to procurement terms. 1.3Organization – Nature’s Secrets. As the largest herbalcosmetics manufacturer in Sri Lanka, we have consistently met the desires,needs and expectations of our customers including cosmetic and hair salons andspa centers with high quality cosmetic products and services for over the pastyears.
We build and maintain partner relationships with our customers based ontrust. Vision:By ceaselesslydeveloping high quality, and natural cosmetic products friendly to the user weaim to:- Take over the leadingmarket position in the segment of cosmetic care products. – To create a globalbrand of herbal cosmetics from Sri Lanka by 2020.- To be the no.1 inskin care and to maintain its position as the leading cosmetics retailing groupin SL.Mission:Offer quality andcomprehensive beauty solutions to our customers.
Share success withoutstuff.Build long termpartnership with our supplies.CoreValues:Togetherness,Innovation, Global wellbeing are the fundamental values of Nature’s Secrets. Trustingthese values we feel confident that we can succeed in a competitive businesswhile at the same time help make the world a better place.Togetherness:People who work together and share the same goals achieve greater results. Theymotivate each other and knows that pulling together is more rewarding thangoing it alone.
Innovation:Innovation is essential because beauty is an endless quest that constantlyrequires a higher level of performance. At nature’s secrets it is vital. Alwayswanting to push back the limits of knowledge means discovering new ways tocreate products that are fully different and surprising. To always stay onestep ahead.
Globalwellbeing: in all business decisions we take, every attempt ismade to ensure that we don’t harm our environment. Task22.1Definition of Marketing Marketingcan simply be defined as the process of promoting and selling products orservices. It can be done through methods such as advertising.
2.2 Evolution of MarketingThereare five concepts which are related to the evolution of marketing.i.The production concept ii.The product conceptiii.The selling concept iv.
The marketing concept v.The societal marketing concept i. TheProduction ConceptThe productionconcept is the oldest one where it was believed that consumers will buy theproducts and services which are widely available and are of low cost. Theconcept goes like this. The organization/the producers find out an unfulfilleddemand in the market and afterwards they would produce that particular productin large scale in order to sell it at a very low cost.
As a suitableexample for this producing the ford car in large scale can be mentioned. ii. TheProduct Concept This concept holdsthe idea that customers will turn on to the products which offer the bestquality along with innovative features. Here they should have an idea and focuson what exactly are the expectations of the customers,Ex: The Company’Apple’ focuses highly on this concept where they produce high quality productswith innovative features and great performance. iii.
SellingConceptThis conceptstands as a sharp contrast to the product concept where the product conceptproduces products focusing on the interests of the consumers whereas theselling concept completely ignores them and instead, their goal is to sell whatthey produce than focusing on what the customer really wants. The products issold by strong efforts and through persuasion. The best exampleis where the sales people come to our doorstep and explain about the productsand he will make great efforts to persuade us into buying the product. iv. MarketingConcept By time,companies realized that there must be better ways to sell products rather than usingsales people as it is not successful because the return from the sale is veryloss after giving the salesman his commission. They focused on what thecustomers want and how to keep their customers satisfied.
In order to promotethe products, they engaged in advertising and promoted them in radio,newspapers and by using banners with intention of gaining the attention of thecustomers. v. SocietalConceptThis concept holds thata company should not only consider about the customers’ wants, but also thecompany’s needs and the long-term wellbeing of the society as a whole. In orderto achieve this the product should be healthy and free of any chemicals whichbecomes a strong point as it shows the concern for consumer health. Moreovercompanies should produce products which are eco-friendly, which means theproduct should not be harmful for the environment.
Thus the company givesprominence not only for the consumer’s satisfaction but also to the generalpublic, environment and to the organization as well. 2.37P’s of Marketing 1.Product Aproduct is simply what is produced in order to satisfy the needs of theconsumers. The company should ask from themselves whether this product isappropriate for the present society and whether there really important.
2. PricesPriceof the product varies from time to time. The company should either increase orlower the price of the product according to the present situation.3. PromotionPromotingof the product can be made through advertising, exhibitions and seminars. 4.PlaceThisis simply about the place where you sell your product or service. Companiessell their products in different places.
Some companies send their salespersonout, some sell through mail orders also.5.PeopleOneshould think of people who are both inside and outside of one’s business.
Company should hire the right person for the right job. They’re the ones whoare responsible for the success as well as the failure of the business. 6.
Physical EvidenceWhena company provides services for the consumer, they’re intangible. Therefore themarketers develop physical evidence for the satisfaction of the customers.Forexample if we take the physical environment for a meal it is the restaurantwhich is surrounded when you consume the service. Therefore it should be pleasantand comfortable.7.
ProcessesThiscan be simply stated as the steps taken in order to deliver the goods andservices to the customers. 2.4 PESTELAPESTEL analysis is used by markets to analyze the external the externalmarketing environment factors that have an impact on an organization.Theexternal environmental factors are,Political factors– These are the policies followed by the government of a country in monitoringthe economic activities. Therefore businessmen should be vigilant about thesepolicies:· Open economic policies· International relations· PrivatizationEconomic factors– The factors such as interest rates, employment and unemployment, cost ofconsuming items and cost of consuming items and cost of living and savings areespecially needed to economic policies.
Social factors– In a society there exist various values, faiths, beliefs related to each andevery religion and nationality. These exist within the cultural environment. Changesin cultural recognitions directly influence business. Sometimes culturalfactors act as limitations on business.Technological factors– Technology is developing rapidly through new inventions. Nowadays businesstransactions are done through internet as a result of these advancements.
Inthe face of technological advancements, it is possible for businessmen to findbusiness opportunities.Environment– Natural disasters such as tsunami, floods and landslides create differentchallenges such as pollution and global warming. Various business opportunitiesemerge when finding solutions for these challenges.
Legal factors– Rules and regulations are legal acts that protect the consumer, localproducers and the business community. These legal factors include consumerprotection laws, insurance laws etc. 2.5Stages in marketingplanning process Themarketing planning process are the steps on how to market and sell one’sproduct within a particular time period. Following this process is vital as ithelps in achieving the goals of a business.Hereare few steps in the marketing planning process.1. Havinga missionThisis the first and most important step as it shows the aim of starting thebusiness.
The company should have a clear understanding of its objective.2. SWOTAnalysisItis very important for businessmen to identify business opportunities, threats,strengths and weaknesses and to be aware of the business environment. Amarketing plan outlines a business advertising and marketing efforts for thecoming year. It describes business activities involved in accomplishingspecific marketing objectives within a set time frame and also includes adescription of the current marketing position of nature’s secrets, a discussionof the target market and a description of the marketing mix that a businesswill use to achieve their marketing goals.
Task 33.1Human Resource ManagementHumanresource management is a term which outlines the ways which are used to managethe people in an organization.HRMembodies planning, hiring the right people for the right job, managing salariessolving conflicts and maintaining proper relations with the employees.HRis responsible in recruiting the right people for the right job and oncethey’re being hired, it is again the responsibility of the HR to train themwell. Moreover the employee must begiven the opportunity to develop himself in ways such as attending him toseminars and conferences. So that they can be more improved. Also the employeesmust be given a feedback on their performance.
If they are praised for whatthey do, they will be motivated definitely obviously. Further conflicts canarise in organizations as not all are having the same views. So the HR Managershould intervene and end the dispute. But he should be impartial and not judgmental.
Therefore he should be friendly with all and should maintain good interpersonalrelationships, in order to win the trust of the employees. Or else he wouldnever be able to discuss the matters and issues with the employees. 3.2 Recruitmentand selectionRecruitmentis a major function of human resource management. Recruitment can be simplydefined as selecting the right person to the right job.
That is to say hiringdynamic, potential and suitable candidates who are well experienced, and whohave the knowledge and skills required to a particular position.Recruitmentcan be divided into two parts:Internal recruitment- when a company seeks to fill in a vacancy from its existing employees. Thisan inexpensive and a faster way of recruitment. For an example, to fill in amarketing team leader vacancy in nature secrets, the company can recruitinternally from its marketing team.External recruitment– It is filling a vacancy from anavailable pool of job candidates, other than the existing staff to see ifthere are any qualified /skilled individuals to perform the vacant position.There will be a wider pool of labour and new blood to the enterprise.
For anexample fill in a marketing team leader vacancy in nature secrets, the companycan recruit externally.How companies recruitemployees · Through employment agencies. Ex: JobFactory · Via World Wide Web· Through classified advertisements inNewspapers and magazines · College placement centersSelectionSelectionis the process of the steps involved in interviewing and evaluating the mostsuitable candidate who is within the criteria of the company vacancy. There arevarious selection methods including interviews, tests, medical examinations,references etc. Recruitment process: 1.
Recognizing the intention of hiring a person.2.Making a detailed profile of the ideal candidate.3.Preparing the job description.Inthe job description you get the opportunity to list the duties andresponsibilities that the particular person should fulfill. You should clearlymention the qualities that you expect from him in order to find the mostsuitable person.
4.Inspecting CVs.Itwill definitely take a long time review all the CVs. In order to make this taskeasier you should keep in mind what kind of a person you are looking for andwhat the job description is.5.Arranging an interview.
Thisis the most important step in the recruitment process as this is the first timeyou get the opportunity to communicate with your candidate. Personality of thecandidate is vital and at this moment you can examine his behavioral patterns.It is important to let the candidate ask questions also as it can help inunderstanding his aim in wanting to be a part of the company.6.Build up a good relationship with the candidate after realizing that he is theright person for the right job.
3.3 Relationshipbetween pay and motivationMotivation