B207: Shaping business opportunities. The links and relationships across…
B207: Shaping business opportunities.
The links and relationships across the whole module.
Block 1 introduced us to the concept of the marketing mix. Including Place, Product, Price, Promotion, People, Process and Physical environment. Blocks 2 and 3 then expanded on areas of the mix
The marketing mix has been expanded on in Blocks 2 and 3. Promotion has lead to international marketing and internal marketing which are ways of targeting customers and employees in ways that will help the organisation to globalize and expand.
Marketing is integral for an organisation that plans to compete in the global market.
Competing in the global market requires an organisation to know international regulations, exchange rates and the understanding of local cultures.
This knowledge will then allow an organisation to build long term success.
Long term success relies on an organisation being ethically responsible and aware of their customers cultures.
Management - different types of management were introduced to us throughout this module
Block one introduced us to operations management.
These managers are responsible for the delivery of gods and services to customers through their management of the organisations resources
This then links to controlling quality in Block 2, which is a criteria of an operations manager.
Operational risk is a linked to managers as they are the people responsible for overseeing certain tasks within the organisation.
Block 3 introduced us to managing in the political context, crisis management and how management is not leadership.
Suppliers, customers, competition and general public all affect the opportunities available for a business. Marketing and measuring both help keep a business well connected with their micro-environment.
Block 1 introduced us to how social, technological, economic, environmental, political, legal and ethical all affect an organisations operation.
Raising finance in block one showed us types of finance available to organisations when they are stating up or wanting to expand their organisation
Venture capital and private equity
Block two then showed how capital is spent and used within an organisation in order for it to expand.
Taxation - transfer pricing showed how organisations try to avoid taxes when trading
Following local and national regulations ensures that an organisation succeeds and will help them to secure stakeholders and a larger customer base