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Principles of Management: In Practise - Essay Example

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This essay stresses that the customer should be made to visit the firm to experience the service as the service products are intangible, heterogeneous and variable in nature. As the competition increases, sustaining in the industry becomes more and more difficult. The below case analysis investigates a health care firm which is pressurized with the growing competition and has come up with a huge expansion plan.
As the paper declares an industry is a conglomeration of different business entities which produced same products. The auto mobile industry which consists of various manufactures has their version of projecting the products with different features and attractions. These business entities carry similar identities in organizing the production. These business entities strive to keep their business aloft from other peers. The word industry has engrossed many other allied industries which directly or indirectly support the business activity of the industry. For example Automobile industry consists of the assembling plants, the spare parts manufactures and the maintenance etc. The total production can be perceived under single ownership or the components can be outsourced to other firms. Services occupy a unique significance in all of the business entities. The uniqueness is due to the fact that services require the presence of the customer at the production location, services are intangible, inseparable from the production and consuming, vital part of the service is the experience perceived by the customer. ...Show more
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Summary

A successful business entity has to forecast its future challenges and has to equip with systems before the concern arises. The discussion lists out the practical factors which are to be considered by inference with the noted theories of kotler, porter. …
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