Ye Oo - Economic theory that every entrepreneur should know

Business theory

Since the late 1940s or early 1950s, new business management techniques have emerged. Downsizing, outsourcing, total quality management, economic value analysis, benchmarking, reengineering , etc. These are new methods. Each is a powerful method.

The main challenge in management is to know what to do to make a big business successful. Once you know what to do, you already have a method for how to do it. Without knowing these methods, a company that was very successful yesterday can collapse today, and a company that is bankrupt today can become successful tomorrow if it is done in the right way.

Therefore, we present the basic information that you must know to succeed in your business as "Business Theory That Entrepreneurs Should Know."

Marketing

Marketing is a persuasion, a creation. It is a management function for the mutual benefit of the product and the consumer . It is the process of introducing your product or service to customers, and promoting it in various ways to increase sales. The Chartered Institute of Marketing defines marketing as “the process of satisfying consumer needs at a profit.” This means that marketing is a management function.

Marketing is often thought of as advertising or selling. In fact, this is a very narrow definition. Marketing is the planning and implementation of all decisions related to the market. The market is also the main reference point for the buyer. Focusing on the buyer, understanding the buyer thoroughly, bringing satisfaction to the buyer and seeking profit for the company is the most basic concept of marketing.