Marketing Practices and Financial Practices-Samples for Students

Question: Demonstrate how theory Explains the Dimensions of Structure and People Management of your Organisational Design analyse this Business Model and Create your Interpretation of its Current Organisational Design. Answer: Introduction Marketing is the process to which goods and services flows from the producer to the consumer. The marketing management has been concerned with identifying and anticipation of the needs of the clients (Bovee and Thill, 2013). Moreover, it is important to understand the goods are produced and the services are provided for the maximum satisfaction. When it comes to finance it is the backbone of an organization. The financial management is the process of acquiring, allocation as well as management in order to achieve the goals of the organization. Some organization deals with the manufacture capabilities in order to produce the goods and some organization to deal with the services (Child, 2015). The goods as well as the services are sold in order to earn the profit (Bovee and Thill, 2013). Therefore, the funds should be raised in order to acquire the manufacturing and the distribution facilities of Ambrosia organization. In this research it will include the understanding of the marketing and financial practices to the various areas of the Ambrosia organization which is involved in the manufacture and distribution of the products the high quality range of the vitamins, nutritional supplements, minerals as well as the body (Child, 2015). Current organisational design The business processes of the Ambrosia organization Involves the various rules and the roles via the various division of the structure that bring on the outlook of the plan of the company in their manufacturing and distribution of the products. The company has been designed into the various design such as input which comprise of all the (materials, money, goals and objective of the company) (Shafritz, Ott and Jang, 2015). Other parts of the structure are manufacturing division, distribution, output and the departmentalization that comprise of the rules and the roles of the organization. The current organization structure of this organization will be significant since it will ensure that there has been efficient operation of the business and defines on the workers and their functions (Shafritz, Ott and Jang, 2015). This structure will help define on the hierarchy and the chain of the command of the organization. Understanding the marketing practices There are some requirement to which they help in the achieving of the organization goal for example the distinctive high quality products as well as the service, reasonable price of the product and the service, in addition to the application of the modern technologies and the systems (Child, 2015). Ambrosia organization needs to have a clear vision in maintenance of those significant elements. Based on the researchers there are several elements that could impact on the long-term of the organization. In the 70s, the sociologists understood that the conventional model was insufficient in assisting in knowledge of the large dissimilarity between goals and the outcomes (Pride and Ferrell, 2010). Many of the models have integrated framework, personal in addition to the system. The culture continues to be completely vital that you the exclusive element which influence on the working of the company. With regards to the marketing management, the notion of the organizational culture is extrem ely important. Generally, the marketing offer a concentrate to the consumers than the organizational problems (Child, 2015). Depending on the marketing management, the study of the culture offers on the knowledge of the behavior of the client, defining on the cultureas well as the sub-culture in the marketing segment as well as the cross cultural comparison of the international markets. There are various scholars who have already focused on the impact of the organizational culture when it comes to the process of the marketing management for the effectiveness of the managers. Contemporary marketing practices There are various marketing model in the marketing management which Ambrosia organization encounter such as the transaction cost as well as the relationship marketing. The relationship marketing creates a more value which would help in placing of the value on the establishment of the long terms relationship of the business (Kotler and Keller, 2009). As a result of the globalization, building of the new partnership as well as managing of the network of the relationships become more significant part in the strategic planning of the organization. There are various aspects which could relate to the relationship of the marketing issue. The main aspect that develops on the relationship aspect to the traditional forms of the marketing concept of marketing (Kotler and Keller, 2009). The next aspect is to recommend on the changes of the marketing to the transactional type of the marketing into the relational kind of the marketing. The subsequent element could be to development of the relation ship contained between the transactional marketing as well as well as the relational marketing that could help in the creation of the right mix of both of the marketing approach. When it comes to the marketing scenario, the contemporary marketing groups have highlighted to the new paradigm. The limitations of these three aspects of the relationship are hence recognized through the contemporary practices of the marketing group (Pride and Ferrell, 2010). The contemporary marketing practices highlights on the various aspects of the environment. Based on the contemporary marketing practices both the traditional as well as the relationship marketing could be applied together. It is important to understand that there are three dimensions of the relationship marketing; there is the interaction marketing, networking as well as the database. Nonetheless, in the 90s these models were classified into two aspect which were the transactional exchange and the relational exchange model (Pride and Ferrell, 2010). Based on those two aspect the marketing has been classified to four ways these are the transaction marketing, Database, interaction as well as network. On the transaction marketing it helpful on what we regard as the economic transaction. Moreover, based on the transactional exchange it could be categorized. Ambrosia organization as well as the buyers (who are the pharmacies, supermarket, and the health care practices in all Australia state), are the parties that are involved in the general market. The relationship is very discrete in nature (Scott and Davis, 2015). The balance of the passive buyers as well as the active sellers helps in the balancing of the description of the power. It hence helps in the satisfying as well as attracting the potential client buyer through the management and controlling the aspect of the market. When it comes to the database marketing this creates the focus of the information as well as the economic transaction (Scott and Davis, 2015). In a given target market, parties are the organization as well as the buyers. In the interaction marketing it is the interactive relationship between the buyer and the seller. These individuals are very active and the communication could occur to person to person across the firm (Thornton, Ocasio and Lounsbury, 2015). This is an ongoing in regards to the term of the duration. The next is the network marketing which involves the relationship between the organizations. There are multiple parties who are involved for example the buyers, sellers and the other companies. Understanding financial practices When it comes to the financial practices it is important for Ambrosia organization to understand that the significant activities in the organization are production, marketing and finance. The organization usually raise on the required amount of the capital as well as utilize it in these activities which provide return on the invested funds (Thornton, Ocasio and Lounsbury, 2015). The difference between the accounting and the finance is finance helps in the decision making of the financial activities. The three major areas of the decision making is in the financial management are investment decision, dividend as well as the financing decision. The financial operating activities The numerous financial activities in the financial control are financial planning, which recognizes on the type of the resources required to obtain in addition to build on resources to attain goal of organization (Thornton, Ocasio and Lounsbury, 2015). Others are the budget and its management, management of the cash flow, collection of the credit, the budget deviation analysis, and the financial statement analysis. This will make understand on the current as well as future position Ambrosia business. Management and organisational theory to support the analysis. When it comes to the rational organization such as Ambrosia there are two important parts; the specificity of goals and the formalization. The organizational theory consists of the approaches to the organization analysis. In the case of this organization the theory which best describe it is the contingency theory (Hill, Jones and Schilling, 2014). In the perspective of this theory it claims that the best way of organizing on the organization to make decision, the optimal course of action is the contingent which is dependent on the internal and the external situation. In the management of the organization a contingent manager uses effectively their own style of the leadership to the right situation. The most appropriate form is best suited to the kind of the actions the company undertakes (Hill, Jones and Schilling, 2014.). It is important to note that the organization differ differently particularly in their mode of the production, therefore this will characterize on their optimal or ganizational design. Additionally the system theory can be utilized to examine on the case of this organization. The managers in the organization recognize on how different systems impacts on the workers and how the workers affect the system around them. It is evident that Ambrosia organization is very successful because the management has been able to understand how this system works and affect the individuals in the organization (Hill, Jones and Schilling, 2014). The system is made of the various parts which work together in achieving the goal. It is the broad perspective which allows the management to examine on the patterns and events in the workplace to enable it achieve the goals and the objectives. The management are able to coordinate the programs to work collectively as a whole for the overall goal and the mission of the organization. Conclusion The financial analysis helps in examining on the performance of the business, whereas the evaluation of the marketing practices is important for the business to adopt to the long term strategy as well as implementation of these strategies to be able to attain on their objective. Both of these aspect helps to overcome the situation and help in the achievement of the organizational goal. References Bovee, CL and Thill, JV 2013, 'Financial information and accounting concepts', inBusiness in action,6th edn, Pearson, Upper Saddle River, pp. 390-413. Child, J., 2015. Organization: contemporary principles and practice. John Wiley Sons. Hill, C.W., Jones, G.R. and Schilling, M.A., 2014. Strategic management: theory: an integrated approach. Cengage Learning. Kotler, P. and Keller, K. (2009).Marketing management. Upper Saddle River, N.J.: Pearson Prentice Hall. Pride, W. and Ferrell, O. (2010).Marketing. Australia: South Western Cengage Learning. Shafritz, J.M., Ott, J.S. and Jang, Y.S., 2015. Classics of organization theory. Cengage Learning. Scott, W.R. and Davis, G.F., 2015. Organizations and organizing: Rational, natural and open systems perspectives. Routledge. Thornton, P.H., Ocasio, W. and Lounsbury, M., 2015. The institutional logics perspective. John Wiley Sons, Inc