Answer:Unity of command
Explanation:Henri Fayol principle of management is one of the most widely accepted standard for effective management of Organisations. This principles highlights fourteen(14) points that highlights how management can carry out their responsibilities.
UNITY OF COMMAND IS ONE OF THE PRINCIPLES OF MANAGEMENT BY HENRI FAYOL WHICH INVOLVES A TOP-DOWN(MANAGERS TO SUPERVISORS TO THE JUNIOR PERSONNEL) APPROACH TO GIVING INSTRUCTIONS.
<u>This is an example of "outsourcing".</u>
Outsourcing is the business routine with regards to procuring a gathering outside an organization to perform benefits and make products that generally were performed in-house by the organization's own representatives and staff. Generally done as a cost-cutting measure, it can influence occupations going from client support to assembling to the back office.
Outsourcing can enable organizations to lessen work costs essentially by outsourcing certain assignments. Organizations can likewise dodge costs related with overhead, gear and innovation.
Answer:
Tragedy of the commons.
Explanation:
The "Tragedy of the Commons" refers to the phenomenon where People overuse a common resource. It is a situation arise when individual user share resources with much other and demand increase in comparison to the supply of resources, which lead to depletion, destruction, or damage to resources due to overconsumption. It can be prevented by using certain measures like fixing ownership of resources, assigning basic rules and regulations for usage of resources, penalizing for damage, etc.
In the given case, a retired athlete built a gym and made it common and free for neighborhood residents, which lead to overuse of gym facility and that is a tragedy of common arise.
Answer:
Explanation:
Professors Andrew McAfee and Erik Brynjolfsson of the MIT Sloan School of Management performed a study that proved that corporations that used data driven decision management had a higher productivity (+4%) and higher profits (+6%). This study was made by the two professors and the MIT Center for Digital Business.
They were very clear in specifying that the success of data driven management is based upon the quality of the data gathered and the effectiveness of its interpretation. Not all data gathered is useful for every corporation, so it must be properly analyzed and interpreted.
From the consumer’s perspective, the elements of an IMC strategy can be viewed as being either "Passive or Interactive."
<h3>What is IMC strategy?</h3>
The integrated marketing communications (IMC) plan transforms your marketing department from a collection of independent operations into one cohesive strategy.
IMC combines your numerous marketing materials and channels, including digital, social media, PR, and direct mail, into one trustworthy message.
The integrated marketing strategy includes-
- IMC evaluation of a brand and also its main rivals.
- IMC Report Card
- Identifying a brand's, an organization's, or a person's main communications outlets.
- Core strategy statement identification and adaptive messaging
- Timeline for the project, including deliverables and particular strategies
- reporting and measurement
Each integrated marketing communication approach should include three components:
- the target customer,
- the channels used to deliver the message, and
- an assessment of the communication's effectiveness.
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