question_answer 17)

A company wants to modify its existing product in the market due to decreasing sales. You can imagine any product about which you are familiar. What decisions/steps should each level of management take to give effect to this decision?

Answer:

The three leves of management will work together towards the modification of the product with the motive of increasing sales. The following are the three levels of management. (i) Top Management (ii) Middle Management (iii) Lower Management Decisions Taken by Top Management for Increasing Sales (i) Direction of modification. (ii) Drafting sales targets and various sales plans and sales incentives. (iii) How to enhance the value of the product in qualitative terms? (iv) Thinking of the financial requirements. (v) Marketing and promotional techniques required for fastening the sales. Decisions Taken by Middle Level Management for Increasing Sales (i) Interpretation of the policies framed by top management to the lower level management. (ii) Hiring necessary personnel with the required qualities and qualifications. (iii) Assigning responsibility as per capability and establishing the supervisor-subordinate relationship. (iv) Co-operating with the team members as well as first line supervisors. (v) Taking the feedback and arranging the follow up meeting. Decisions Taken by Lower Level Management for Increasing Sales (i) Interpretation of planned targets to the actual work force and labourers. (ii) Helping and directing the workers regarding how to carry out the work. (iii) Maintaining standards, quality control and frequent checks. (iv) Minimisation of wastage and motivating the workers so that they can deliver up to their maximum potential. (v) Communicating the grievances and feedback to the middle management and bringing in the changes if required.