The important points that explains the interface between business and various types of environment are as follows: Both the environment and business are interrelated and interdependent on each other for its survival and growth.
Figure illustrates this by showing that the vice president of each of these functions reports directly to the president or CEO of the company. Marketing is responsible for sales, generating customer demand, and understanding customer wants and needs.
Finance is responsible for managing cash flow, current assets, and capital investments. MIS is responsible for managing flows of information. Most of us have some idea of what finance and marketing are about, but what does operations management do?
Figure Organizational chart Operations management OM is the business function responsible for managing the process of creation of goods and services. Because operations management is a management function, it involves managing people, equipment, technology, information, and all the other resources needed in the production of goods and services.
Operations management is the central core function of every company. This is true regardless of the size of the company, the industry it is in, whether it is manufacturing or service, or is for-profit or not-for-profit. Consider a pharmaceutical company such as Merck.
The marketing function of Merck is responsible for promoting new pharmaceuticals to target customers and bringing customer feedback to the organization.
Marketing is essentially the window to customers. However, it is the operations function that plans and coordinates all the resources needed to design, produce, and deliver the various pharmaceuticals to hospitals, pharmacies, and other locations where needed.
Without operations, there would be no products to sell to customers. The Transformation Role of Operations Management We say that operations management performs a transformation role in the process of converting inputs such as raw materials into finished goods and services.
These inputs include human resources, such as workers, staff, and managers; facilities and processes, such as buildings and equipment; they also include materials, technology, and information.
In the traditional transformation model outputs are the goods and services a company produces.
This is shown in Figure Figure The transformation role of operations management At a manufacturing plant the transformation is the physical change of raw materials into products, such as transforming steel into automobiles, cloth into jackets, or plastic into toys.
This is equally true of service organizations. At a university OM is involved in organizing resources, such as faculty, curriculum, and facilities, to transform high school students into college graduates.
At an airline it involves transporting passengers and their luggage from one location to another.Solved Briefly describe the macromodel of the marketing communications process. Marketing 3 years ago S_leve3 milestone23 3 Replies Views Solved Name the growing online, internal communications vehicles and briefly describe how each is used.
Flowchart definition - A Flowchart is a diagram that graphically represents the structure of the system, the flow of steps in a process, algorithm, or the sequence of steps and decisions for execution a process or solution a problem. Environmentalism and marketing connect where marketing may affect the environment when serving consumers with products and services.
There is an environmental movement which puts pressure on businesses, governments and everyday people to be green. Briefly explain the following: a) Socio –culture environment b) Marketing environment interface Questions 1. What are the significant factors that have led to the success of Shoppers’ Stop?
2. Briefly Explain What You Understand by the Company's Marketing Environments. The Marketing Environment The marketing environment refers to all of the internal and external forces that affect a marketer’s Dealing with this environment is a major part of the marketer's work since marketing is an interface between the organisation and.
The Marketing Environment The marketing environment surrounds and impacts upon the organization. There are three key elements to the marketing environment which are the internal environment, the microenvironment and the macroenvironment.