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marketing 3.docx

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University of Manitoba
MKT 2210
Subbu Sivaramakrishnan

today’s organizations: kinds, levels and teams 1. kinds of organizations. very broadly there are two kinds of organizations: a. a business firm is a privately owned organization that serves its customers in order to earn a profit. business firms must earn a profit to survive. profit is the reward to a business firm for the risk it undertakes in offering a product for sale: the money left over after a firm’s total expenses are subtracted from its total revenues. b. a nonprofit organization is a nongovernmental organization that serves its customers but does not have profit as an organizational goal. such organizations include museums, private hospitals, and research institutes. 2. levels in organizations and how marketing links to them. there are three levels in large organizations: a. the corporate level is where top management directs overall strategy for the entire organization. b. the business unit level is the level at which business unit managers set the direction for their products and markets. a business unit refers to an organization (or a part of an organization) that markets a set of related products to a clearly defined group of customers. c. the functional level is where groups of specialists create value for the organization. often called “departments,” examples of these function units are the finance, human resource management or research and development units. marketing works at each of these levels to help the organization succeed. where things happen: functional areas and cross-funtional teams. cross-functional teams - teams from different departments who are mutually accountable to a common set of performance goals. sometimes the teams include suppliers and customers for
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