EFFECTIVE BUSINESS PRACTICES

Marketing Principles & Business Practices



Marketing Principles & Business Practices

Introduction

The wide spread of the management and marketing practices in the companies whether those are of same sizes in a similar industry of sectors in a similar region or country, suggest the fact that the excellent management practices is not just a matter of business environment but there are also several other business issues regarding internal policies. The practices of effective management are recognized but in the environment of public domains those practices are affected by some poor dissemination either it is not worthy for several firms or it is hard to be implemented successfully. In this essay, a research work has been discussed which is found by interviewing managers of the management firms for taking an idea of their management practices in several business issues.

For so many business or marketing firms, this research could be beneficial as it would suggest the ways in which they access their business processes for carrying out some dramatic changes in the business performances and this is done simply because of adopting effective business practices. Especially for the policy or decision makers, it is a challenge to make decision which could be best suited for the business and marketing need of the company. The total performance of the business and marketing organizations is determined by its managers as they process the business practices. And by developing such environments that could enhance the management practices in the overall organization require much attention and consideration of business leaders, managers, governments and the whole economy. Discussion

In a research project which was conducted in the year 2001 for seeking out the business and marketing practices in different business firms, it has been believed that a business organization's performance is directly proportional to the ways by which it is managed by its managers or leaders. It has been also seen that such effect on the business performances can be stronger rather by using several other factor which could be able to drive business performance. Such other factors are comprised of market conditions, laws and regulations, and national culture.

Quantifying management practice

For examining some management practices, a hypothesis was developed in the research project which was a tool and used for assessing the entire management practices of one business organization and then compared that evaluation with the performances of other business organizations. Earlier studies were comprised of a sample of more than somewhat 700 manufacturing firms of medium size in different countries of UK, US, Germany, and France. Such studies showed a strong type of association between the productivity of the firms and the practices of business management. The findings of such studies also led some strong insights for the governmental organizations but those questions were remained unanswered.

For evaluation the practices of business management, the scholars conducted interviews to business managers and policy makers. The managers were not known about the scoring and ranking methodology of such research and similarly the interviewers were not known about ...