Management can de defines as the process of being successful; achieve a goal in the desired way. This can be used in many fields. For example, in the company competitors on can say that his or her company is successful when it makes some necessary profits and satisfies needs of the consumers. In this review am going to grab some of the top management issues that affect control of company (Seabright, 2004, p. 12).
However, working without compensation means that individuals or employees will be demoralized to work; this will always happen to a negative attitude towards work thus reducing the work out put in a company. In addition, people do volunteer for compensation due to some external forces, for example, one does not need to be idle therefore, he or she volunteers. On the other hand, by volunteering, one may establish his or her name in the company leading to employment; in this principle one may volunteer just to use it as a stepping stone to perform his or her purpose in life. In addition, there are some well wishers just in the developed country such as USA who appreciate the needs of other, for example, they believe in helping the elderly in the society having hopes that they will be paid for their good deeds by the creator (God). This is as a result of belief in the society (Bruns, 1992, p. 35).
To begin with, management of the company or companies does depend much on the type of property the company produces. For example, in my case I will handle the situation for a food production company. Where the company will try to assess the likelihood of profit potential and meet the needs for the consumer. We all know that the purpose for a business to start is to get some profits as well as meeting the needs of the consumer; usually it is the responsibility of a company's leader to continue to compare between the risks and rewards. For example, if the company tends to meet the needs for consumers and ignore the feeling of profit making, then the company is expected to shut down due to the loses that it incurs. For example, company W is able to establish a new technique of making a snack which it considers being reduced bearing in mind to meet customer's needs. This can only be achieved if the company knows the age, site and refinement for it is consumers (Seabright, 2004, p. 22).
Therefore, the manager should be able to obtain statistics about the customer's preference. In addition to the same, the company needs to set up an advisory committee that looks into external and domestic issues of management; in this case the company should know about the ideas and strategies of the competitor. This will allow the company to adapt the new changes in the market (Seabright, 2004, p. 36).
Secondly, another key issue is about the organizational issues; the managers need to look much on issues that concerns it is employees in issues to do with how trained they are, and how they can be able to develop new ideas to promote their business. Many companies do close down because they look much on issues of cost of production and continue to employ unqualified personnel. Therefore, promote the company down; the untrained employees will find it hard to adapt to new changes and also find it hard to exploit new ideas. Therefore, am going to make sure that company W gets the proper employees for the right job if not, we will have to spend some time and prepare the current employees on adjustments to cope with strategies (Seabright, 2004, p. 46).
However, closely to the marketing of the snacks; a snack may be well prepared, but it is not market well, it has likely to have fewer consumers. This can be done by ensuring that any good produced in advertised in media so that consumers are able to wait it's benefit over another commodity. For example, the new formula for snacks that the new company has come up with; needs to be advertised so that consumers are able to know why they should go for the snack. Therefore, it is necessary before one gets to work on some new ideas he or she ask the consumer the following questions; whether the consumer like sweet snacks or not (should limit his or her answer to yes or no), consumers should also be asked whether they are diabetic or not and finally, the size of packs they need for a snack; this will determine the price of the snack. Thus, marketing is a key role in management (Seabright, 2004, p.41).
Therefore, for company W to compete Widge Corp it needs to collect some data upon which some analysis may be drown out of it. This data should either nominal or ordinal. The nominal data will be based on coding information into categories or labeling. For example, the consumers taste may be classified into sweet snacks and sour snacks. In this essence, if one does belong to category one, then he or she must belong to the second category. On the other hand, ordinal data is based on the scale where it is quite hard to tell the difference between two data; for example the outcome may be that consumers like sweet snack than sour snacks. We are able to see that there is the magnitude on how sweet they want their snacks. Therefore, it has quite hard to tell the difference between the category one and the other (Seabright, 2004, p.21).
However, nominal data and ordinal data can be used together to give more information about something. In addition, the two scales relate in essence that they are level of measurement or scales or measure despite ordinal giving more information. Thus, one can subject ordinal data to mathematical calculation and not nominal data. However, both of the data provides general descriptions but neither nominal nor ordinal provides the relative difference between the data points (Seabright, 2004, p.51).
However, for company W to become successful, it needs to set some attributes concerning the snack food production since most of the snacks are not primarily used for the nutrients they provide but for the consumer's interests. For example, some snacks are produced to consumers theme to soccer; it is pellets may take the shape of a soccer ball. The consumer may like the snack due to the fact that it has his or her theme of taste. In addition, some snacks ate picked by consumers due to the fact they smell delightful. When these factors are put together, one can draw an assumption that snack companies needs to know the changes in lifestyles and eating patterns (Leveille, Morgan, Zabik, 1978, p. 53).
In the last ten years, location of consumers, age, and income of consumers have determine the consumer taste for snacks. For example, children bellow that age of ten years are known to like sweet snacks such as the biscuits where as adults may pick snacks depending of their tastes. Studies have revealed that snacks can improve someone dietary amount for example, snacks that have sugar can increase someone's sugar in the blood hence making one be diabetic. Therefore, as much as the snacks companies are looking for sweet and cheap snack to produce, some consumers are looking at the ingredients of the snacks. Thurs, the companies should advertise why it's making new ideas about it's production so that the consumer can be able to pick the best preference of himself or herself. In relevance to these, company W should attribute these rating scales; intensity of the color, where the snack should be not intense, neither intense nor not intense, moderately not intense, moderately intense or unusually intense. Flavor, where the snack may be sour, bitter, salty or sweet, and finally, should be generally be accepted by consumers. This attribute of scale may help company W to improve it production (Leveille, Morgan, Zabik, 1978, p. 27).
However, company W may collect data based on the whole number of consumers in an area in this case the number of inhabitants (either the total number or the number of a particular race or class) in a given place (country or city etc.) Or in the sample which will mean a section of the whole population is picked using different criteria; this is to enable the company avoid the problem of biasness which may lead to errors in the results; result being of a lose to the company. In this essence, the company W will take a small fraction of the population and try to attribute some of the scale discussed early and analyze the result before the whole population is subjected to the new formula of the snacks. This will enable company W to spend less money since it did not use the whole population. Finally, when the outcome turns to be positive, the new snack formula can be used to produce snacks by the company (Leveille, Morgan, Zabik, 1978, p. 44).
In conclusion, this paper provide company W the managerial mechanism upon which when utilized well, it will enable the company become successful in making it's profits and well as meeting the needs of the consumers. Therefore, company W will be able to meet the changing tastes and emerging preference of it's consumers. In other words, this paper has drawn a clear mechanism behind age, location and consumers tastes. This because the company will have developed more developed mechanism and strategies to help it achieve its goals