Notes Final Revisions | Môn Business Administration - Trường Đại học Quốc tế, Đại học Quốc gia Thành phố Hồ Chí Minh

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CHAPTER 10: MOTIVATING EMPLOYEES
A. VALUE OF MOTIVATION:
- Employees’ satisfaction
- Engagement: level of motivation, passion and commitment
- Key function of manager: motivating right people, to work with natural drive &
willing to work hard if they feel their work is appreciated and makes a difference. - 2 kinds of reward: +
Intrinsic reward: from personal satisfactions
+ Extrinsic reward: the reward other people give you (promotions, praise…) B. TAYLOR’S THEORY:
- Scientific management: improve worker’s productivity by time, methods, rules of work
- Time-motion studies: Studies of which tasks must be performed to complete a job and
the time needed to do each task - 4 key of Taylor’s principle:
+ Study how job is performed (gather time, motion information and check different methods) + Codify the best method
+ Choose workers whose skill matches +
Establish level of performance C. HAWTHORN’S STUDY:
- Hawthorne Effect: People act differently when they know they are being studied.
D. MASLOW HIERARCHY OF NEEDS:
- Physiological needs: basic survival needs including the need for food, water and shelter
- Safety needs: the need to feel secure at work and at home lOMoAR cPSD| 59078336
- Social needs: the need for recognition and acknowledgment from others, as well as
self-respect and a sense of status or importance
- Self-actualization needs: the need to develop to one’s fullest potential
E. HERZBERG MOTIVATING FACTOR:
- Motivators: Job factors that cause employees to be productive and that give them satisfaction
- Hygiene factors: Job factors that can cause dissatisfaction if missing but that do not
necessarily motivate employee if increase F. MCGREGOR’S THEORY X, Y & OUCHI’S THEORY Z: lOMoAR cPSD| 59078336
*William Ouchi’s Theory Z is the combination of theory A (focused on the individual)
and theory J (committed to the organization and group)
G. GOAL SETTING THEORY:
- Setting ambitious but attainable goals can motivate workers and improve
performance if the goals are accepted, accompanied by feedback and facilitated.
- Management by Objectives (MBO): Involves a cycle of discussion, review and
evaluation of objectives among top and middle-level managers, supervisors and
employees. H. EXPECTANCY THEORY: I. REINFORCEMENT THEORY:
- Definition: Positive and negative reinforcers motivate a person to behave in a certain way.
Positive reinforcement Negative reinforcement
Punishment Extinction J. EQUITY THEORY:
- Equity Theory: Employees try to maintain equity between inputs and outputs compared
to others in similar positions. K. JOB ENRICHMENT:
- Job enrichment: A motivational strategy that redesigns jobs to be more challenging
to the employee and have less repetitive work.
- 3 types of job enrichment:
+ Job simplification: Produces task efficiency by breaking a job into simple steps and assigning people to each.
+ Job enlargement : Combine a series of tasks into one challenging and interesting assignment. +
Job rotation: moving employees from one job to another lOMoAR cPSD| 59078336
CHAPTER 11: HUMAN RESOURCE MANAGEMENT
A. SOME CRITICAL DEFINITION: lOMoAR cPSD| 59078336 - Job analysis: + Job description + Job specifications B. Summarize:
1. The five step in human resource planning:
(1) preparing a human resource inventory of the organization’semployees (2) preparing a job analysis (3) assessing future demand (4) assessing future supply
(5) establishing a plan for recruiting, hiring, educating, appraising,compensating, and scheduling employees.
2. Methods that human resource managers use to recruit new employees: Recruiting
sources are classified as either internal or external.
- Internal sources include those hired from within (transfers, promotions,
reassignments) and employees who recommend others to hire. lOMoAR cPSD| 59078336
- External recruitment sources include advertisements, public and private employment
agencies, college placement bureaus, management consultants, professional
organizations, referrals, walkin applications, and the Internet.
3. Six step in the selection process:
(1) obtaining complete application forms
(2) conducting initial and follow-up interviews (3) giving employment tests
(4) conducting background investigations
(5) obtaining results from physical exams(6) establishing a trial period of employment.
4. Some training activities: Training activities include employee orientation, on- and off-
the-job training, apprentice programs, online training, vestibule training, and job simulation.
5. Methods that help develop managerial skills: Management development methods
include on-the-job coaching, understudy positions, job rotation, and off-the-job courses and training.
6. How managers evaluate performance:
(1) establish performance standards;
(2) communicate those standards;
(3) compare performance to standards; (4) discuss results;
(5) take corrective action when needed;
(6) use the results for decisions about promotions, compensation,additional training, or firing.
CHAPTER 13: MARKETING BUILDING CUSTOMER RELATIONSHIP A. DEFINITION*:
Marketing is “the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have value for customers,
clients, partners, and society at large.”
- KEY: Marketing is about managing potential relationships with customers. lOMoAR cPSD| 59078336
B. FOUR ERAS OF US. MARKETING: Production era Goals centered on production. Selling era
Develop mass-production techniques; turn from producing to selling.
Marketing concept Customer Orientation: Finding out what customers want and era then providing it.
Service Orientation: Strive to customer satisfaction.
Profit Orientation: Focusing on the goods and services that
will earn the most profit to serve for customer’s wants and needs. Customer relationship era
The process of learning as much as possible about present
customers and doing everything you can over time to satisfy
them or even to exceed their expectations with goods and services.
C. MARKETING MIX*: Include Product, Price, Place, Promotion. Marketing research Find opportunities. Conduct research. Identify a target market. Product
Design a product to meet the need based on research. Do product testing. Price
Determine a brand name, design a package, and set a price. Place Select a distribution system. Promotion Design a promotional program. lOMoAR cPSD| 59078336
Build a relationship with customers.
D. MARKETING RESEARCH PROCESS*:
Consists of at least four key steps: 1. Defining the Environment Global factors
- Trade agreements (Các hiệp định question (the -al scanning thương mại) problem or - Competition opportunity) and - Trends determining the - Opportunities present situation. - Internet Technologic al - Computers factors - Telecommunications - Bar codes - Data interchange - Internet changes Sociocultura l - Population shifts factors - Values - Attitudes - Trends Competitive - Speed factors - Service - Price - Selection Economic factors - GDP
- Disposable income (thu nhập khả dụng - thu nhập
sau khi đã trừ đi thuế nhà nước) - Competition - Unemployment 2. Collecting
Primary sources Interviews, surveys, observation, focus group, online research data
surveys, questionnaires, customer comments, letters from customers. Government Publications lOMoAR cPSD| 59078336 Secondary Commercial Publications sources - should find Magazines first Newspapers Internal Sources General Sources 3.
Analyzing the research data. 4.
Choosing the best solution and implementing it.
E. MARKET SEGMENTATION*: F. MARKETING METHOD*: METHOD Niche marketing One-to-one marketing lOMoAR cPSD| 59078336 Market Small, profitable. Large, but still focus on segments individuals. Products Specific, unique Mix Examples Big Size fashion clothes Package tour. METHOD Relationship marketing Mass marketing Market Custom-made goods and Products, promotion that segments services, focus on long- please large term/ loyalty customer group of people (as many engagement as possible) Examples Spa Coca Cola.
G. B2B MARKET & CONSUMER MARKET* (read more in slides)
CHAPTER 14: DEVELOPING AND PRICING GOODS AND SERVICES I. 4Ps - PRODUCT: A. TOTAL PRODUCT*:
- Total product: wide range of tangible and intangible benefits that buyers gain from a product lOMoAR cPSD| 59078336
- Primary characteristics: basic features of the core product (range, shape, color, quality, quantity, compatibility…)
- Auxiliary dimensions: supplementary benefits (special features, aesthetics, packaging, brand name…)
B. PRODUCT’S IDENTIFICATION:
- A product item: is a specific product that has a unique brand, size, or price
- Product Line: A group of products that are physically similar or intended for a similar
market. Product lines often include competing brands.
- A Product Mix: the combination of all product lines offered by a company or service provider.
C. DIFFERENTIATING PRODUCTS*:
- Product Differentiation: The creation of real or perceived product differences.
- Sometimes, marketer use a creative mix of pricing/advertising/packaging to create
different image (e.g: bottled water, aspirin, fast-food, laundry detergent, shampoo)
D. CONSUMER PRODUCT CLASSES*: 1. Consumer product: Types Price Place Product Purchase Goals in (distribution behavior of Promotion ) consumer lOMoAR cPSD| 59078336 Convenience Low Widespread, Staples/ - Impulse, Focus on price, (Sản phẩm
always available emergency in life: frequent Accept availability, tiện lợi) Medicine, - subtitudes awareness Toothbrushes, Magazines Shopping products Fairly
Large number of Clothes, shoes, - Focus on brand Infrequent and (Sản phẩm mua high outlets (cửa Appliances and image, sắm): Included seek for hàng bán lẻ do furniture, differentiation Homogeneous information/ chính brand sở Childcare, Home from competitors & comparisons hữu) remodeling… - Heterogeneou s Prefer strong products brand image but also accept subtitudes Specialty (Sản High
Limited/ connect Unique products: - Build brand status phẩm chuyên with Tiffany jewelry, Rolex Infrequent, and unique biệt) retailers watches, needs large products research, pay Lamborghini, lot of effort automobile, Ritz - Brand Carlton Hotels identification s, don’t accept subtitudes Vary Often limited Requires much -
Infrequent, some Raise awareness advertising and may have and develop Unsought products personal selling.
comparisons Will personal selling (Sản phẩm thụ accept động): Included Eg: funeral service, - substitudes New unsought car towing service products and (dịch vụ kéo xe) Regularly unsought products
E. PACKAGING, LABELING, BRANDING* (đóng gói, dán nhãn) 1. Packaging & labeling: Packaging Labeling lOMoAR cPSD| 59078336 Goals Promote a product - Attracting attention - Describing the product - Making the sales Objectives 1. Provide information 1. Cost effective 2. Promotes the product 2. Protect the product 3. Assist in marketing of the product 2. Branding:
- Brand: Name, symbol, design that identifies from the goods or services and
distinguishes them from competitor’s offerings.
- Trademark: A brand that has exclusive legal protection for both its brand name and design.
F. THE NEW-PRODUCT DEVELOPMENT PROCESS:
G. KEY BRAND CATEGORIES: lOMoAR cPSD| 59078336
H. BRAND EQUITY AND LOYALTY
I. PRODUCT LIFE CYCLE* lOMoAR cPSD| 59078336 J. 4P - PRICE: I. Pricing strategy*:
+ Target costing: Making the final price of a product an input in the product development
process by estimating the selling price consumers will pay.
+ Competition-Based Pricing -- A strategy based on what the competition is charging for its products.
+ Skimming Price Strategy -- Pricing new products high to recover costs and make high
profits while competition is limited.
+ Penetration Price Strategy -- Pricing products low with the hope of attracting more
buyers and discouraging other companies from competing in the market. II.
Pricing strategies of retailers:
+ Everyday Low Pricing (EDLP) -- Setting prices lower than competitors with no special sales.
+ High-Low Pricing -- Using regular prices that are higher than EDLP except during special sales when they are lower.
+ Psychological Pricing -- Pricing products at price points that make a product seem less expensive than it is. lOMoAR cPSD| 59078336
CHAPTER 15: DISTRIBUTING PRODUCTS A. DEFINITION*:
- Marketing intermediaries: are organizations that assist in moving goods and services
from producers to businesses (B2B) and from businesses to consumers (B2C)
- A channel of distribution consists of a whole set of marketing intermediaries, such as
agents, brokers, wholesalers, and retailers, that join together to transport and store
goods in their path (or channel) from producers to consumers.
- Agents/ brokers are marketing intermediaries who bring buyers and sellers together
and assist in negotiating an exchange but don’t take title to the goods—that is, at no point do they own the goods.
- A wholesaler is a marketing intermediary that sells to other organizations, such as
retailers, manufacturers, and hospitals. -
Retailer is an organization that sells to ultimate consumers (*)
B. WHY MARKETING NEEDS INTERMEDIARIES*:
- Because intermediaries perform certain marketing tasks faster and more cheaply. lOMoAR cPSD| 59078336
- Three basic points about intermediaries:
1. Marketing intermediaries can be eliminated, but their activities can’t, because
consumers or someone else would have to perform the intermediaries’ tasks. Plus, not
all organizations use all the intermediaries; some intermediary functions can be done in-house.
2. Intermediary organizations have survived because they perform marketing functions
faster and more cheaply than others can. To compete, they now must adopt the latest technology.
3. Intermediaries add cost to the product, which is offset by the value they create.
C. THE UTILITIES CREATED BY INTERMEDIARIES: lOMoAR cPSD| 59078336
1. Utility*: In economics, is the want-satisfying ability, or value, that organizations add to
goods or services by making them more useful or accessible to consumers than they were before.
- There are six kinds of utility: form, time, place, possession, information, and service. Advantages Example Kind of utility Form utility
Change raw materials into useful products.
+ A farmer separates the wheat from the chaff (tách lúa mì khỏi vỏ trấu)
+ The processor turns the wheat into flour (chế lúa mì thành bột)
+ Butchers cut pork chops from a larger piece of meat
and trim off the fat (cắt sườn từ một miếng thịt lớn
hơn và loại bỏ chất béo không cần thiết)
+ Baristas at Starbucks make coffee just the way we want lOMoAR cPSD| 59078336 Time utility
Get groceries at midnight because the local deli was
Making a product available when open 24 hours a day. consumers need them. Place utility
Convenient places for vacationers
Placing a product where people want them Possession
Doing whatever is necessary to
Both the real estate broker and the savings and loan utility
transfer ownership from one party are marketing intermediaries that provide
to another, including providing
possession utility. They help the customer who
credit. Some activities associated
doesn't want to own goods but still have the right to
with possession utility include
use it through renting or leasing.
delivery, installation, guarantees, and follow up service. Informatio n Opening two-way flows of Newspapers, salespeople, utility information between marketing
libraries, websites, and government participants.
publications are all information sources made available by intermediaries. Service utility
Helpful, friendly service we received from the
Providing fast, friendly service
salesperson in a store and the service from the
during and after the sale and by techies at the Genius Bar.
teaching customers how to best use products over time.
2. Wholesale intermediaries: Retail sale Wholesale sale The sale of goods and services to consumers for
The sale of goods and services to their own use
businesses and institutions, like
schools or hospitals, for use in the business,
or to wholesalers or retailers for resale. lOMoAR cPSD| 59078336 Wholesale Full sale service Limited Rack jobbers function Cash-and-carry wholesalers Drop shippers Agents & Agents Brokers Brokers
3. Retail intermediaries:
D. RETAIL DISTRIBUTION STRATEGY*: