MANAGEMENT

Market-Led Management

[Institution Name]

Market-Led Management

Introduction

Every action and operation in the world needs a specific set of predetermined processes and procedures, with proper supervision, in order to assure their appropriate execution and implementation. There exists a proper course of attaining the goals and objective in personal life as well as professional. It is the end goal and objective which eventually determines the path one needs to follow in order to accomplish them; these paths denote the necessity of shaping up suitable strategy, plan and approach via which we can enable and provide one and others with the scheme and system to follow.

The paper discusses the adoption of market-led approach to management of the organization and further discusses the working of Wal-Mart as a market-led organization.

Market-led Approach to Management

Corporation must evolve flexibility in strategies and must gain the ability to shift from one particular strategy to another. Although it require, long term commitment for the development and utilization of efficient resources. Company need to keep on progress and adopting new procedure and learning process. Organization efficient in acquiring, creating, and transferring knowledge and then altering its behaviour give the image of information advancement. Moreover, organization with learning attitude can also avoid stability with experimental and improving approach. Everyone in the organization should contribute in the strategy formulation, and suggest their opinion in betterment of strategy, improving work methods and techniques (Nag & Hambrick, 935-955.).

Marketing according to its broad sense - is social - the managerial process by which the individual is a group of people and by creating products and exchange them get what they need. The bases of this process are the key concepts: the need, desire, demand, product return, trade, market. Thus, the requirements translate into specific wishes, which, taking into account opportunities translate into money market demand for particular products; is exchanged between the producer and the consumer takes the form of a particular transaction. This implies that marketing sends the economy to meet the ever-changing needs of the many millions of consumers.

As noted earlier, marketing - the process of matching organizational capabilities and consumer demand. The result of this process is to provide consumers with benefits that meet their needs and achieve their goals. he process of matching customers' needs and capabilities of the organization takes in some external environment in which marketing activities are carried out. The environment of marketing describes the factors that condition, the forces and actors external to the marketing that affect the ability of organizations to establish and maintain good cooperation with customers. These factors and forces are not subject to direct control by the organization. Marketing means a series of major social and environmental factors that impact on all subjects of marketing, but not immediate, direct way, and includes political, socio-economic, legal, scientific and technical, cultural and environmental factors.

The environment is part of the marketing organization of the environment as a whole or external business environment. If the external environment is not in direct control of the organization, then management of marketing activities ...