Management and marketing principles go hand in hand with each other as marketing strategies are implemented by management. Knowledge of both principles will guide me in making correct decisions and plan strategies that will be followed by the people in the company. I believe that these two functions in the company should be treated with collaborative effort and as a team to create a culture of harmony in the business. Marketing strategies are the efforts done to create attention, interest, desire, and action of consumers while management gives finance and administrative support in doing the strategies.
I had a short stint of managing a business because my parents own a shopping center, a market and building rentals in my hometown. My parents assigned to me the purchasing of raw materials and supplies needed for the manufacture of the products needed by our clients. I have learned the process of sourcing through the internet, through trade associations and referrals. From here, I have gathered the basic skills of pricing, comparison, competition, and quality control. There were instances that the price of the same raw material will be differently offered by several suppliers. Because of this discrepancy, I became interested in finding the causes why prices behave that way, a little of Economics. In this way, we have exercised cost efficiency in the sourcing of raw materials. In the management of the company, I have learned how to please customers by maintaining good customer relations, in the same way. I have practiced behavior control of employees working for us.
This little knowledge, I hope could be very useful in my studies of Business Management. I am sure that the education that I will learn from this university will play an important role in designing my future in the career path that I have made for my life. This early, I plan to be a successful entrepreneur someday or right after I have finished my studies and apply what I learn in school. With proper educational guidance, I know I will not go wrong in decisions and strategies that I will make as I go along in the course of the business. Who knows that a few years from now, I become one of the on-line trading suppliers in the B2B category? I believe our future lies on how we design it now, how we patiently hold on to our dreams and how we prepare to achieve it. and I am sure, the right guidance coming from formal education plays a significant role in it.