Sig Sigma Concept

What is Sig Sigma? Six Sigma is a disciplined, statistical-based, data-driven approach and continuous improvement methodology for eliminating defects in a product, process or service A six sigma process is one in which 99.99966% of all opportunities to produce some feature of a part are statistically expected to be free of defects. Six Sigma strategies […]

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5 Why Analysis – Free Online Studymaterial

Five why or 5 why is an iterative interrogative technique used to explore the cause-and-effect relationships underlying a particular problem.Wherever we are facing issues, this technique will find the root causes of the problem by the way of Asking 5 times “Why?”. Each answer forms the basis of the next question. The “five” in the […]

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GLOSSARY BUSINESS ADMINISTRATION – Words starts with Di – Vocabularies

Di Diagnosis: Process of identifying a disease from its signs and symptoms. Didactic: Describes works of literature or art which are intended be to informative or instructional especially morally rather than entertainment. From the ancient Greek word didaskein which means to teach. Differential cost: The difference in the expected total cost of a project if […]

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Role of Marketing Manager:

Formulation of marketing plans and policies in consultation with the chief executive or managing director.Development of marketing mix and marketing program for all products of the company. Supervision and control over sales manager, advertising manager, product manager and marketing services manager who are responsible for implementing marketing program.Development of new markets, new products, new channels […]

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Interfaces with other Functions in The OrganiZation

Importance of marketing is mainly attributed to the following category: A. Importance to the Firms: 1. Business planning and decision-making- Marketing is helpful not only to plan the production but also in business planning and taking various decisions regarding business. In today’s economy, production is planned according to the sales forecasts and not according to […]

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Five Major Concepts Involved In the Marketing Of Business Enterprises

Business enterprises conduct their marketing activity around these five concepts: 1) The Production Concept 2) The Product Concept 3) The Selling Concept 4) The Marketing Concept 5) The Societal Marketing Concept. 1) The Production Concept: The production concept emerges out of the production orientation of the firm.It is based on the idea that the more […]

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What are all the Functions of Marketing and Process

A. Exchange Functions: Buying- Buying is the one part of exchange process, other being the selling. Buying is the first step in the process of marketing. A manufacturer has to buy raw materials for production, a wholesaler has to buy goods to sell to the retailer, and a retailer has to buy goods to be […]

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GLOSSARY BUSINESS ADMINISTRATION – Words and Its meanings start with Letter Cl

Cl Class A spot : In the media commercial which are run on a prime time network. Class action : A lawsuit in which one person makes a claim and sues on behalf of a large group of people who have similar legal claims usually against a company or organisation. Class room training : Under […]

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Indian Market & Its Environment:

It is difficult to analyze the environmental factors affecting Indian market. Ours is a vast country with various religions, caste, sub-caste, languages, culture, etc. Each of these factors operates at different levels & art different places. 1. Vast Market: The Indian market is the second largest in the world considering its population. If consumption is […]

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Objectives of Marketing Management:

1. Creation of Demand: The marketing management’s first objective is to create demand through various means. A conscious attempt is made to find out the preferences and tastes of the consumers. Goods and services are produced to satisfy the needs of the customers. Demand is also created by informing the customers the utility of various goods […]

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Marketing management systems:

Marketing planning. This encompasses the process of setting marketing strategies, defining goals and tactics related to those strategies, specifying revenue and expense budgets, and linking these to specific marketing projects. In large organizations, the planning process may be very clearly, even rigidly defined. It typically involves assembling information about markets, competitors, products, objectives, strategies and tactics […]

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GLOSSARY BUSINESS ADMINISTRATION – Words starts with BU

Words starts with Letter Bu Bubble economy : An unstable boom when the economy experience an unusually rapid growth with rising share prices and increased employment. Budget : Allocation of funds or the estimation of costs a department, project,etc., over a specific period. The management of spending and saving money. Budget : A quantitative expression […]

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What is Marketing and Marketing Goal, Marketing Philosophy

Definition: Marketing is the management process responsible for indentifying,anticipating,and satisfying customer requirement profitable. Gole: * Attract new customers by promising superior value. * keep+grow current customers by delivering satifaction. Marketing a sale telling +selling Satisfying customer needs The importance of marketing : Marketing is valuable to a variety of organisation * corporate for- profit * […]

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GLOSSARY BUSINESS ADMINISTRATION – Words starts with BR

Words starts with Br Bracket creep: Slowly moving into a higher tax bracket with samll pay increases over a period of time. Brain drain : The loss of highly skilled people to another region country or industry where they can work in a better environment and/ or earn more money. Brain storming : It is […]

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GLOSSARY BUSINESS ADMINISTRATION – Words and Its Meanings Starts with BO

Words starts with Letter BO Body language: Way in which People communicate meaning to others with their bodies in international interactions. Boilerplate: A section of standard text, especially a contract clause, inserted into legal documents,or instead increasingly referring to a standard section of code inserted into computer programs or other digital application. Bonafide : The […]

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What is Personality – Free Study guide

Definition of Personality “Personality can be described as how a person affects others, how he understands and views himself and his pattern of inner and outer measurable traits” Personality DeterminantsThere are several factors that determine the formation or shaping of our personality. Among them the three major factors are: Heredity, Environment and Situation. i) Heredity […]

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Organisational Behaviour model – Free Study guide

Organisational Behaviour Model Autocratic Custodial Supportive Collegial Autocratic: The basis of this model is power with a managerial orientation of authority. The employees in turn are oriented towards obedience and dependence on the boss. The employee need that is met is subsistence. The performance result is minimal – most prevalent during he industrial revolution – […]

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Organisational Behaviour – Free Study guide

Definition:Organizational behaviour, is “… a study and application of knowledge about human behaviour – as individuals and in groups – in orgns – strives to identify ways in which people can act more effectively.”“The understanding, prediction and management of human behaviour in organizations.”Is an applied science- best practices in one orgn can be communicated to […]

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What are all the stages in the perceptual process-BBA free online Studymaterial

Stage I: observation phase StageII: selsction of the stimuli StageIII: organizing stage StageIII: Interpretation stage StageIV: Behavior Response StageV: Influencing perception Stage I: Observation Phase – It depicts the environmental stimuli being observed by the five senses of the perceived Perceptual Process. Stage II: Selection of the Stimuli: This is governed both by factors external […]

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What is Perception and Characteristics of Perceiver

Perception ;- The process through which people receive, organize, and interpret information about their environment. is the process through which people receive, organize, and interpret information about their environment. Perceiving involves becoming aware of the world around us and processing information about that world. Perception is the method by which we come to understand ourselves, other people, […]

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