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BUS110 Detailed Focus Points Spring 2019.docx - 1....

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1.Marketing and the Market OrientationWe definemarketingas a group of activities designed to expedite transactions by creating,distributing, pricing, and promoting goods, services and ideas.The goal of marketing is tocreate value by allowing individuals and organizations to obtain what they need and want.Marketing is NOT manipulating customers nor is it simply selling and advertising. Marketing is asystematic approach to satisfying consumers.Amarket orientationrequires organizations to gather information about customer needs, sharethat information throughout the entire firm, and use it to help build long-term relationshipswith customers.2.The four different types of departmentalizationa.Functional departmentalizationgroups jobs that perform similar functional activities,such as finance, manufacturing, marketing, and human resources. This approach iscommon in small organizations. A weakness of functional departmentalization is that,decision-making that involves more than one department may be slow, and it requiresgreater coordination.b.Product departmentalizationorganizes jobs around the products of the firm. Functionalactivities—production, finance, marketing, and others—are located within each productdivision.Consequently, organizing by products duplicates functions and resourcesHowever, it simplifies decision-makingc.Geographic departmentalizationgroups jobs according to geographic location, such as astate, region, country, or continent. Multinational corporations often use a geographicalapproach. However, organizing by region requires a large administrative staff.d.Customer departmentalizationarranges jobs around the needs of various types ofcustomers. It requires a large administrative staff to coordinate the operations of thevarious groups.3.Human relations and its role in business
Human relations is the study of individual and group behavior in organizational settingsand is concerned with what motivates employees to perform on the job. In business,human relations involves motivating employees to achieve organizational objectivesefficiently and effectively.How to motivate employees and ways to retain good employees.How to Motivate Employees1)Interact with employees in a friendly and open manner.2)Equitably dispense rewards and other incentives.3)Create a culture of collaboration.4)Provide both positive and negative feedback and constructive criticism.5)Make employees feel as if they are partners rather than workers.6)Handle conflicts in an open and professional manner.7)Provide continuous opportunities for improvement and employee growth.8)Encourage creativity in problem solving.Ways to Retain Good Employees1.Challenge your employees2.Provide adequate incentives3.Don’t micromanage4.Create a work-friendly environment5.Provide opportunities for employee growth4.Organizational structure, Organizational Culture.

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