Management principle Essay Example | Topics and Well Written Essays - 750 words

Management principle - Essay Example Leadership is essential in management as it spells out a clear vision that others work towards and formulates the strategies of realising that dream. Management can only be easy and effective if people work together and have the same purpose (Bolman, 2013:78). Efficiency holds time and task into consideration as activities in the organisation are undertaken while effectiveness focuses more on the impact of the activity or the result it has yielded. Efficiency is all about the cost and process under which the task was operated while effectiveness is about the result the activity has produced. In the modern society it would be better for an organisation if it can have both efficiency and effectiveness in its operations but if both can’t be achieved the ‘effectiveness’ is much preferred. This is because in these modern times no one would want to rush things over and end up with a poor result. It would rather be a little bit slow but produce real results. Saving cost should only be if the result is guaranteed and that the reason why technology is expensive but it guarantees good results (Chermack, 2011:55). Centralisation and decentralisation are two opposing business structures based on power to make decisions. In centralised organisations, directives and decisions to the conduct and activities in that organisation are made by a single individual probably the business proprietor like in tiny business while decentralisation is the vesting of power to make decisions and provide management directives on different people in the company such as the departmental managers among others (Chermack, 2011:44). This structural outline varies depending on the business or company. Formal planning is the clearly lucid and well thought-out and prepared ideas about individual or organisational objectives and precisely spelt out methods and procedures of achieving them

Marketing strategy of Starbucks Essay Example | Topics and Well Written Essays - 1000 words

Marketing strategy of Starbucks - Essay Example Starbucks is attempting to involve its customers in the product in many ways. First, the company is marketed as a status item hence it is high involvement (has higher psychological, economic, and social risk) cheaper coffee or unbranded coffee from its competitors. Secondly, Starbucks is utilizing different campaign, like â€Å"Bold Coffee† campaign and the â€Å"Via† taste challenge so as to get its customers to come to the store continuously and try the new products. This is a perfect use of the buyer behavior theory that predicts that the customers could switch brands only to try a new thing. Offering its customers with a new flavor to try every week, the company actively manages the natural inclination of the customers to try new things. These strategies together with emphasizing on socially responsible behavior, the company are also offering customers with additional benefits on which they can evaluate its products. Through building a strong brand that its customer s are loyal to, implying that the customers don’t even consider the other brands whenever they are going for coffee, immediately they will choose Starbucks since it’s the coffee for any person who loves coffee. These are the strategies that are employed by Starbucks to keep its existing customers satisfied (Simon, B. 2009). Promotion is the most common promotional mix elements utilized by Starbucks are internet marketing, advertising, public relations, personal selling, and sales promotion (Michelli, J. A. 2007).