POSDC In Business Management

 POSDC In Business Management

Management is the process of directing people to achieve organizational goals. It involves setting objectives, assigning responsibilities, monitoring progress toward those objectives, and evaluating results.

Managers are responsible for developing plans, policies, procedures, and systems that will help their organizations function effectively. They are also responsible for deciding how best to allocate scarce re

sources among competing demands. deciding how best to allocate scarce resources among competing demands.

A manager has many important duties in POSDC in Business Management.

POSDC MODEL:

Planning - Identify the problem or opportunity, set a goal, develop a strategy, create a plan, evaluate its effectiveness, determine the following action, control costs, monitor progress, make adjustments as necessary.

• It is the process of deciding in advance, what to do, when to do, how to do it (process) , and who should do it (responsibilities).
• This bridges the gap from where the organization is to where it wants to be

Organizing - Establish priorities, assign responsibilities, establish rules, delegate authority, establish standards, ensure compliance with established rules, maintain records, communicate information, coordinate activities.

• It is the process of organizing resources and developing productive relationships amongst them to achieve organizational goals.
• Optimum use of resources to achieve the goal.
• This includes a grouping of tasks, assigning responsibilities, providing resources etc.

Staffing - Select qualified personnel, train them, supervise them, evaluate their performance, remove unsatisfactory workers.

• The primary purpose is to put the right person in the right place.
• This includes human resource planning, selection, recruitment, remuneration, transfer, appraisal & development of personnel.

Directing - Communicate directions, give orders, hold meetings, negotiate agreements, direct subordinates.

• This includes influencing, guiding, supervising, communicating, and motivating subordinates to achieve organizational goals.

Controlling - Monitor performance, review reports, evaluate results, correct errors, change direction if needed.

• Controlling is the process of checking if progress is being made towards the goals and acting, if necessary, to correct any deviation.

Business marketing is also known as industrial marketing or business to business (B2B) marketing. while still classified within the B2B discipline due to the sharing of dynamics.

Business And Consumer Markets(B2c)

A consumer market is a type of sales market in which a business sells directly to consumers, also known as a business-to-consumer (B2C) market. In a consumer market, consumers usually pay the same price for each product, although they can use coupons or merchant discounts to pay a reduced price. Often, when a business faces increased consumer demand, the business' demand for goods from their own suppliers also increases. Here are the main types of consumer markets:

• Food and beverage products

• Consumer products

• Transportation products

• Retail products

A business market is a sales market in which businesses sell to other businesses. This includes both retail and wholesale businesses. With a business-to-business (B2B) transaction, the buyer company purchases products from a seller company, then uses those products to aid in the production of other goods or resells the purchased products directly to the consumer. Here are the main types of business markets:

• Industrial markets that focus on the sale of industrial products or services

• Government markets in which government entities comprise the majority of buyers

• Financial service markets for things like banking and commercial credit

Strategies:

B2B branding

B2B branding is different from B2C in some crucial ways, including the need to align corporate brands, divisional brands and product/service brands and to apply brand standards to material often considered “informal” such as email and other electronic correspondence. It is mainly of large scale when compared with B2C.

Product (or service)

Due to the fact that business customers are focused on creating Shareholder Value for themselves, the cost-saving or revenue-producing benefits of products and services are important to factor in throughout the product deployment and marketing cycles.

Target Market

Quite often, the target market for a business product or service is smaller and has more specialized needs reflective of a specific industry or niche. A B2B niche, a segment of the market, can be described in terms of which requires marketers to have good business intelligence in order to increase response rates.

  What is Process of Management:

Process Management refers to aligning processes with an organization’s strategic goals, designing and implementing process architectures, establishing process measurement systems that align with organizational goals, and educating and organizing managers so that they will manage processes effectively.

What is a Business Process:

At its most generic, any set of activities performed by a business that is initiated by an event, transforms information, materials or business commitments, and produces an output. Value chains and large-scale business processes produce outputs that are valued by customers. Other processes generate outputs that are valued by other processes