Group Decision Making Essay Example | Topics and Well Written Essays - 3000 words

Group Decision Making - Essay Example This report stresses that GDM is also at times called as collaborative decision making. In this approach the individuals collectively makes decision or a choice from the set of alternatives. The decision is taken as a group and it is not attributable to any single member of the group. The GDM is very much different as compared to that taken by the individuals and it comprises of the decision to the extreme. This paper makes a conclusion that the owner of the car parts manufacturing company has planned on implementing a group for the decision making process. Groups often provide the best possible solution for any issue as compared to that taken by individuals. A group comprises of people that have different expertise and knowledge and this makes it beneficial for the company as the sharing of knowledge facilitates an effective decision making. It is recommended that the company should involve into the group those individuals who has an experience in the company for a long time and knows about the entire business operations. The group would include the managers of the different operational fields of the business. The group is recommended to follow the reflective thinking process in order to optimise on the decision making. This collaborative approach would maximise the revenues of the company and even would create a satisfactory working environment for the company.

Marketing Principles subject assignment Example | Topics and Well Written Essays - 3000 words

Marketing Principles subject - Assignment Example r wants or needs, developing goods and services to fulfill these needs, and generating and then increasing a demand for these products and services ( Marketing Association, 2014). A market orientation is a principle in which all workers are dedicated to the continuous development of higher worth for consumers (e.g., Narver and Slater, 1990; (Deshpande, Farley and Webster Jr, 1993; Slater and Narver, 1994). A market orientation consists of three main behavioral components: customer orientation which includes the constant consideration of the desires of the objective consumers and creating consumer value by using this knowledge. Next is competitor orientation which involves the continuous consideration of the abilities and policies of the major existing and other satisfiers of the objective customers and the use of information in generating higher buyer worth. Last is interfunctional coordination which involves in the coordination of all roles in the business in consuming consumer and other market data to create bigger value for clients (Narver and Slater, 1990, Dawes, 2000). Morrison should device consumer needs in the market and produces products to match those needs by participating in wide marketing research. This will help Morrison’s in raising the production prices of goods and facilities or services. Market segmentation is the division of markets into similar sets of customers, each of them responding in a different way to communication, pricing, promotion and other elements of the marketing mix. There should be a small difference between customers in each segment when forming market segments. Thus, every division or segment can be spoke with an independently directed marketing mix. (Perner, 2014) Segmentation is the foundation for mounting targeted and real marketing plans. Moreover, investigation of market segments allows assessments about strength of marketing happenings in specific segments. A segment-orientated marketing method usually suggests a