Service Marketing Essentials: Process, Strategy, and Consumer Behavior
The Service Purchase Process
Need Recognition and Definition
The process begins when an internal department or individual identifies a specific business need that a service could fulfill (e.g., IT support, consulting, or maintenance). They must clearly define the scope, objectives, and specifications of the required service to move forward. This stage sets the foundation for a successful procurement.
Supplier Identification and Sourcing
The organization searches for suitable service providers capable
Key Concepts in Finance: Markets, Capital, and Regulatory Bodies
The Green Shoe Option (Over-Allotment Provision)
The Green Shoe Option is a special provision in the underwriting agreement that allows the underwriter to sell more shares to investors than what has been planned by the issuer in the Initial Public Offering (IPO).
Green Shoe Manufacturing Company (now known as Stride Rite Corporation) was the first company to incorporate the green shoe clause in its underwriting agreement. Henceforth, all underwriting agreements that include an over-allotment option
Read MoreModern Leadership & Organizational Dynamics
Core Leadership Concepts & Styles
Defining Leadership & Organizational Structures
- Leadership: The process of influencing individuals and groups by understanding their dynamics and actions to accomplish a common goal.
- Hierarchy: A governance mechanism characterized by power and status, often seen in a corporate ladder where managers are restricted to giving orders, potentially leading to poor communication.
- Heterarchy: Values both vertical and horizontal connections, emphasizing interconnected
Financing Social Enterprises: Investment and Impact Analysis
Key Issues in Social Enterprise Financing
Triple Bottom Line Complicates Investment Analysis
The triple bottom line (TBL) requires social enterprises to measure success across three dimensions: financial, social, and environmental. Traditional investment analysis focuses only on financial Key Performance Indicators (KPIs) like ROI, ROE, and net profit. In contrast, impact investing involves metrics such as Social Return on Investment (SROI), well-being levels, CO₂ reduction, or underserved populations
Read MoreInsurance Sector Fundamentals: IRDAI, GRS, and Distribution Channels
Grievance Redressal System (GRS)
The Grievance Redressal System is crucial for maintaining trust and transparency in the insurance sector.
Objectives of the GRS
- To protect the interests of policyholders.
- To provide a structured channel for resolving complaints.
- To enhance customer satisfaction and trust.
- To ensure compliance with IRDAI guidelines.
- To improve service delivery and transparency.
Key Components of the System
- Grievance Redressal Officer (GRO): The designated official responsible for handling
Core Components of a Successful Business Plan
Business Fundamentals
A business refers to an organization or enterprising entity engaged in commercial, industrial, or professional activities. The purpose of a business is to organize the economic production of goods or services.
Key Business Aspects
- Business Structure: Sole proprietorship, partnership, corporation.
- Business Size: Micro-businesses, small and medium-sized businesses (SMEs), and macro-businesses.
- Economic Sector: Primary (extraction), secondary (manufacturing), and tertiary (service)