Business in Action Study Set 2
Quiz 7 :
Management Roles, Functions, and Skills
As per the case, the company W would make big st
The family of W runs a grocery chain business that was successful in the market for several years. The products in the grocery are highly sensitive and the cost of the food products tends to be fixed and have no scope of being negotiated. This approach cannot be followed with the car dealer, bookstore and a manufacturer of industrial goods as the prices are fixed and the owner and the retailers would be required to negotiate with the prices. However, the marketers can plan to cut down the prices with an aim to sell the products in higher quantity. It can prove to be a good marketing strategy for the company in the long run.
Company W has a low employee turnover and it contributes to the distinct and corporate culture in the following way: • The company has been successful in running the business by adopting the philosophy of "customer is king" and satisfying customers by providing good working conditions. • W regularly train employees and provide them useful knowledge that aims to improve the skills of the employee and make them competitive. • W allow employees to travel across the world and obtain complete knowledge of products and services of the competitors. • Company never forces the employee to shift to other departments and respect their employee's decisions and viewpoint.