Cambridge, United Kingdom

Business and Marketing

Bachelor's
Language: EnglishStudies in English
Subject area: economy and administration
Qualification: BSc
Kind of studies: full-time studies
Bachelor of Science (BSc)
University website: www.anglia.ac.uk
Business
Business is the activity of making one's living or making money by producing or buying and selling goods or services. Simply put, it is "any activity or enterprise entered into for profit. It does not mean it is a company, a corporation, partnership, or have any such formal organization, but it can range from a street peddler to General Motors." The term is also often used colloquially (but not by lawyers or public officials) to refer to a company, but this article will not deal with that sense of the word.
Marketing
Marketing is the study and management of exchange relationships. Marketing is used to create, keep and satisfy the customer. With the customer as the focus of its activities, it can be concluded that Marketing is one of the premier components of Business Management - the other being innovation.
Business
I believe that leaders and leadership teams working together in a proper design will run the business more effectively than by hierarchical, command-and-control managing. But I can't prove that. And there are no models.
Marvin Bower (1966) The Will to Manage p. 7.
Marketing
Another forerunner of modern organization theorists was Andrew Ure, a professor of chemistry. An enthusiastic proponent of “the factory system,” Ure (1835) took a step beyond Adam Smith. Whereas Smith’s pin factory was solely an example of division of labor, Ure pointed out that a factory poses organizational challenges. He asserted that every factory incorporates “three principles of action, or three organic systems”: (a) a “mechanical” system that integrates production processes, (b) a “moral” system that motivates and satisfies the needs of workers, and (c) a “commercial” system that seeks to sustain the firm through financial management and marketing. Harmonizing these three systems, said Ure, was the responsibility of managers.
William H. Starbuck (2005). "The Origins of Organizational Theory," p. 149-150
Business
I never can make out how it is that a knight-errant does not expect to be paid for his trouble, but a peddler-errant always does.
John Ruskin, The Crown of Wild Olive: Three Lectures on Work, Traffic, War (1866), p. 127.
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