Business - page 8

Social Media changes the way consumers interact with organizations

Darryl Bachmeier Mar 16, 2019 Business

Social media has changed the way people review and recommend products and organizations. It has changed the way we interact with organizations. How we get help and report issues. If used right social media can boost an organization’s reputation. An organization can post news and initiatives that promote a good image. It can increase the transparency of organization. Since social media is incredibly fast organizations also have less control of what gets out there. Organizations may have policies that do not allow employees to post to social media however employees can post about their organization using anonymous accounts to get the word out. Organization information can be leaked and once it is out there it is there to stay, be coped, forwarded and re-tweeted. Rumors spread. Consumers can backlash. Consumers use social media to talk about the brands they use, like or dislike. They rant. They blame. It is important...

Sabotage of change initiative

Darryl Bachmeier Mar 16, 2019 Business

A change initiative may face many possibilities of resistance, among the greatest possible resistor is sabotage. Sabotage, occurs when someone tries to make the change fail on purpose and it happens more often than you think. In any change initiative there can be many stakeholders involved. The change agent must perform a stakeholder analysis to determine all those who have a stake in the initiative and what their level of power toward the impact of the project. The change agent must be aware of the motivations of each of the stakeholders. The knowledge of each stakeholder’s interest in the project, as well as the power they can provide. The key stakeholders are those with great power and interest as they can change the initiative on a whim. A disgruntled employee who may have low power and low interest can be a thorn in the initiative, the change agent must be...

Focus group for market research

Darryl Bachmeier Mar 15, 2019 Business

A focus group is a research technique to collect feedback from a small group of people. It is done in a group discussion where group members respond to questions given by the researcher/group moderator. It allows for the collection of qualitative data. A survey for example is designed to get large number of responses to often closed ended questions where respondents pick from set answers. This gives numbers that can be charted and analyzed to get a representation of a larger group. Focus groups on the other hand delve deeper to expand on issues. When used for market research it allows for collecting people’s view, understanding, attitudes and behaviors of the chosen topic. The group members, up to ten people, are a selected group of people who have experience of the topic. The researcher has chosen these individuals as they have met the target requirements of the type of members...

Consumer behaviour – decision making process

Darryl Bachmeier Mar 15, 2019 Business

Consumers make their decisions of what products to buy and what factors have lead them to make their decisions. In order to be successful companies must try to understand all that they can about how consumers make buying decisions. They must also know how to segment consumers into groups that are most likely to buy certain products. Culture, subculture, group associations all have varying degrees of influence on our decision making process. We pick up new behaviours and attitudes from those we associate with. One of the first groups to set our orientations is the family group. As we go through life our attitudes, beliefs and values change. Major life events can cause us to increase our spending on products or services we may never think we needed. When it comes to making decisions we can make both rational and irrational decisions. Consumers usually follow methodical methods to determine their...

Market segmentation of target customers

Darryl Bachmeier Mar 14, 2019 Business

You cannot sell your products or services to every single customer. It is just too expensive to try and reach everyone. What you can do is focus on smaller groups of customers who are more likely to buy your products therefore increasing the efficiency of your marketing efforts. One way to do this is by segmenting your customers by age. Grouping the customers by age allows you to identify those customers who are more likely to share common interests, priorities and needs. You must also consider the six Macro Market Environment Influencers as each affects age demographics differently which also causes changes to your marketing decisions. Beyond the control of your organization, the Macro Market Environment Influencers cannot be thought of as separate as they all influence each other. A new trend in one may cause a chain reaction throughout the others. These changes will affect the customer population, pricing...

Resistance to change and potential solutions

Darryl Bachmeier Mar 13, 2019 Business

Resistance to change if ignored can quickly slow or make change efforts fail altogether. This paper will first go through a case study from a well-known organization and discuss how they dealt with change in order to survive. Then it will discuss common motivations for change, causes of resistance and provide some solutions to resistance. Motivations for Change Change is about moving from one state to another. History has shown that companies who do not change can fall behind their competition and be wiped out. Sources of change can occur both internally and externally. Motivations include globalization, economic conditions, workforce trends, competition, suppliers, customers, new technologies, legal requirements, and dissatisfaction with the current situation. Causes of Resistance Resistance occurs when employees exhibit behavior that is disruptive to the goals of the change initiative. They may act out and challenge the change. This unwillingness to change is serious to the success...

Toxic employees resistant to change initiatives

Darryl Bachmeier Mar 12, 2019 Business

In some organizations, chronically resistant employees occur, who will consistently resist any change initiatives. These employees are afraid of change, attacking all things that are outside their comfort. Toxic employees use social hacking to manipulate others using rumors, silent treatment and intimidation. These employees need the environment not to change so they can hold onto their informal power. If no other employees on the team behave in this manner, then it is clear the employee does not fit well with the organization. If they are a valuable worker, the organization may attempt to find them work in a different area of the organization that could perhaps fit the personalities of the employee, creating a beneficial scenario as the employee is removed from their current toxic role and can still add value to the organization. All employees have unique personalities, values and needs and may benefit in different job roles. Business...

2020 © Zenbo Services Ltd. All rights reserved.