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Demand Chain
The term demand chain has been used in a business and management context as contrasting terminology alongside, or in place of, "supply chain". Madhani suggests that the demand chain "comprises all the demand processes necessary to understand, create, and stimulate customer demand".Madhani, P. M.Demand Chain Management: Enhancing Customer Value Proposition ''The European Business Review'', March–April 2013, pp. 50–54. Cranfield School of Management academic Martin Christopher has suggested that "ideally the supply chain should become a demand chain", explaining that ideally all product logistics and processing should occur "in response to a known customer requirement". Concept Analysing the firm's activities as a linked chain is a tried and tested way of revealing value creation opportunities. The business economist Michael Porter of Harvard Business School pioneered a value chain approach: "the value chain disaggregates the firm into its strategically relevant activities in or ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supply Chain
In commerce, a supply chain is a network of facilities that procure raw materials, transform them into intermediate goods and then final products to customers through a distribution system. It refers to the network of organizations, people, activities, information, and resources involved in delivering a product or service to a consumer. Supply chain activities involve the transformation of natural resources, raw materials, and components into a finished product and delivering the same to the end customer. In sophisticated supply chain systems, used products may re-enter the supply chain at any point where residual value is recyclable. Supply chains link value chains. Suppliers in a supply chain are often ranked by "tier", with first-tier suppliers supplying directly to the client, second-tier suppliers supplying to the first tier, and so on. Overview A typical supply chain begins with the ecological, biological, and political regulation of natural resources, followed by the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unintended Consequence
In the social sciences, unintended consequences (sometimes unanticipated consequences or unforeseen consequences) are outcomes of a purposeful action that are not intended or foreseen. The term was popularised in the twentieth century by American sociologist Robert K. Merton and expanded by economist Thomas Sowell and psychologist Stuart Vyse.Robert K. Merton, Versatile Sociologist and Father of the Focus Group, Dies at 92 Michael T. Kaufman, '''' Unintended consequences can be grouped into three types: * ''Unexpected benefit'': ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Accountability
Accountability, in terms of ethics and governance, is equated with answerability, blameworthiness, liability, and the expectation of account-giving. As in an aspect of governance, it has been central to discussions related to problems in the public sector, nonprofit and private ( corporate) and individual contexts. In leadership roles, accountability is the acknowledgment and assumption of responsibility for actions, products, decisions, and policies including the administration, governance, and implementation within the scope of the role or employment position and encompassing the obligation to report, explain and be answerable for resulting consequences. In governance, accountability has expanded beyond the basic definition of "being called to account for one's actions". It is frequently described as an account giving relationship between individuals, e.g. "A is accountable to B when A is obliged to inform B about A's (past or future) actions and decisions, to justify them, a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Institute Of Practitioners In Advertising
The Institute of Practitioners in Advertising (IPA), incorporated by a Royal Charter, is the trade body and professional institute for agencies and individuals working in the UK's advertising, media and marketing communications industry. History Founded in 1917 as the Association of British Advertising Agents, it was succeeded in 1927 by the Institute of Incorporated Practitioners in Advertising to secure further professional status and recognition for its members. In 1954, it changed to its current name, the Institute of Practitioners in Advertising, so that individuals as well as corporate bodies could be members. The IPA was awarded a Royal Charter in December 2015. This came into effect officially when it was sealed on 13 April 2016. The Charter is displayed at the IPA's London office. As of September 2021, the IPA had 268 agency members. Role IPA members account for over 85 per cent of the media spend in the UK. It covers all aspects of the agency business: creative, digital m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Optimization (mathematics)
Mathematical optimization (alternatively spelled ''optimisation'') or mathematical programming is the selection of a best element, with regard to some criterion, from some set of available alternatives. It is generally divided into two subfields: discrete optimization and continuous optimization. Optimization problems of sorts arise in all quantitative disciplines from computer science and engineering to operations research and economics, and the development of solution methods has been of interest in mathematics for centuries. In the more general approach, an optimization problem consists of maximizing or minimizing a real function by systematically choosing input values from within an allowed set and computing the value of the function. The generalization of optimization theory and techniques to other formulations constitutes a large area of applied mathematics. More generally, optimization includes finding "best available" values of some objective function given a defi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marketing Mix
The term "marketing mix" is a foundation model for businesses, historically centered around product, price, place, and promotion (also known as the "4 Ps"). The marketing mix has been defined as the "set of marketing tools that the firm uses to pursue its marketing objectives in the target market".Kotler, P., Marketing Management, (Millennium Edition), Custom Edition for University of Phoenix, Prentice Hall, 2001, p. 9. Marketing theory emerged in the early twenty-first century. The contemporary marketing mix which has become the dominant framework for marketing management decisions was first published in 1984. In services marketing, an extended marketing mix is used, typically comprising 7 Ps ( product, price, promotion, place, packaging, positioning and people), made up of the original 4 Ps extended by process, people and physical evidence. Occasionally service marketers will refer to 8 Ps (product, price, place, promotion, people, positioning, packaging, and performance), comp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Charles Thomas Horngren
Charles Thomas Horngren (October 28, 1926 – October 23, 2011) was an American accounting scholar and professor of accounting at Stanford University, known for his work in "pioneering modern-day management accounting."Cathy Castillo.Charles T. Horngren, Management Accounting Pioneer: 1926–2011," at ''gsb.stanford.edu.'' October 27, 2011. Accessed 2015-02-16. Biography Born in Milwaukee, Horngren joined the U.S. Army after high school graduation in 1946. Back in Milwaukee, he obtained his BA in accounting at the Marquette University in 1949. In 1952 he obtained his MBA from Harvard Business School, and in 1955 his PhD from University of Chicago. After his Marquette University graduation, Horngren had started his career as accountant, and started lecturing accounting at a business college. In 1952 he joined the University of Chicago faculty as lecturer. After his doctorate graduation he taught at Marquette University and at University of Wisconsin–Milwaukee, and returned to th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shareholder Value
Shareholder value is a business term, sometimes phrased as shareholder value maximization. It became prominent during the 1980s and 1990s along with the management principle value-based management or "managing for value". Definition The term "shareholder value", sometimes abbreviated to "SV", can be used to refer to: *The market capitalization of a company; *The concept that the primary goal for a company is to increase the wealth of its shareholders (owners) by paying dividends and/or causing the stock price to increase (i.e. the Friedman doctrine introduced in 1970); *The more specific concept that planned actions by management and the returns to shareholders should outperform certain bench-marks such as the cost of capital concept. In essence, the idea that shareholders' money should be used to earn a higher return than they could earn themselves by investing in other assets having the same amount of risk. The term in this sense was introduced by Alfred Rappaport in 1986. For ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Demand Chain Medium
In economics, demand is the quantity of a good that consumers are willing and able to purchase at various prices during a given time. The relationship between price and quantity demand is also called the demand curve. Demand for a specific item is a function of an item's perceived necessity, price, perceived quality, convenience, available alternatives, purchasers' disposable income and tastes, and many other options. Factors influencing demand Innumerable factors and circumstances affect a consumer's willingness or to buy a good. Some of the common factors are: The price of the commodity: The basic demand relationship is between potential prices of a good and the quantities that would be purchased at those prices. Generally, the relationship is negative, meaning that an increase in price will induce a decrease in the quantity demanded. This negative relationship is embodied in the downward slope of the consumer demand curve. The assumption of a negative relationship is reaso ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Customer Relationship Management
Customer relationship management (CRM) is a process in which a business or other organization administers its interactions with customers, typically using data analysis to study big data, large amounts of information. CRM systems data collection, compile data from a range of different communication channels, including a company's website, telephone, email, live chat, marketing materials and more recently, social media. They allow businesses to learn more about their target audiences and how to best cater for their needs, thus customer retention, retaining customers and driving sales growth. CRM may be used with past, present or potential customers. The concepts, procedures, and rules that a corporation follows when communicating with its consumers are referred to as CRM. This complete connection covers direct contact with customers, such as sales and service-related operations, forecasting, and the analysis of consumer patterns and behaviors, from the perspective of the company. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Database Marketing
Database marketing is a form of direct marketing using databases of customers or potential customers to generate personalized communications in order to promote a product or service for marketing purposes. The method of communication can be any addressable medium, as in direct marketing. The distinction between direct and database marketing stems primarily from the attention paid to the analysis of data. Database marketing emphasizes the use of statistical techniques to develop models of customer behavior, which are then used to select customers for communications. As a consequence, database marketers also tend to be heavy users of data warehouses, because having a greater amount of data about customers increases the likelihood that a more accurate model can be built. There are two main types of marketing databases, 1) Consumer databases, and 2) business databases. Consumer databases are primarily geared towards companies that sell to consumers, often abbreviated as usiness-to-con ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
