Answer
The answer and procedures of the exercise are attached in the following archives.
Explanation
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Answer: on-the-job training
Explanation:
On-the-job training is a method in which employees are trained by observation and imitation of their superiors.
It is an efficient method of learning because it involves 'doing' that is practical.
The employees learn the skills required to carry out their functions in the workplace and also get familiar with the working environment.
On-the-job training also helps to reduce the organization's cost of training new staff. They don't need to pay to training instructor or send new employees to take courses concerning their functions.
On-the-job training methods includes the following:
1) Coaching
2) Job rotation
3) Job instructional training
4) Mentoring
5) Apprenticeship
6) Understudy
Answer:
Many managers today are trained under assumptions of adversarial relationships with other companies. It is very much difficult operating as adversaries as compared to be partners with other companies. It has been seen that when two or more than two companies partnered with one another, then they can perform much better as compared to the situation when they compete head to head. Joining hands with other companies can give you certain sustainable competitive advantage which can never be easily imitated and copied by your competitors. When you pool your resources and share technology and risks and sell your products/services together which is quite helpful for the both companies. For example, when Dell and intel processors share their resources and sell them together, both can have tremendous sales and market share. It can be very helpful and effective for both of the organization. One company can leverage its products and sales with the help of another company. In this strategy of becoming partner, strategic alliance between both organization can get stronger hold in the market with more and enhanced brand awareness, sales and profits as well, therefore, managers can work best when they for making partners instead of rivalry.
Answer:
it can return to an earlier stage through creative marketing.
Explanation:
A product life cycle can be defined as the stages or phases that a particular product passes through, from the period it was introduced into the market to the period when it is eventually removed from the market.
Generally, there are four (4) stages in the product-life cycle;
1. Introduction.
2. Growth.
3. Maturity.
4. Decline.
A product that is at the decline stage is generally referred to as a failed product and wouldn't generate profit or much revenue for the manufacturer because it has little economic importance.
However, once a good or service nears the end of its product life cycle i.e it's at the decline stage, the business firm recognizes that it can return to an earlier stage where it offers satisfaction to the consumers and generate revenue, through creative marketing.
Marketing can be defined as the process of developing promotional techniques and sales strategies by a firm, so as to enhance the availability of goods and services to meet the needs of the end users or consumers through advertising and market research. Thus, it comprises of all the activities such as, identifying, anticipating set of medium and processes for creating, promoting, delivering, and exchanging goods and services that has value for customers. It typically, involves understanding customer needs, building and maintaining healthy relationships with them in order to scale up your business.
