Concept of Motivation Many people incorrectly view motivation as a personal trait that is, some people have it, and others don’t. But motivation is defined as the force that causes an individual to behave in a specific way. Simply put, a highly motivated person works hard at a job; an unmotivated person does not. Managers
What is Compensation? Compensation is money or other benefits provided by the library organization to employees in return for their work. The term compensation means any form of payment made to an individual for services rendered as an employee for an employer; services performed as an employee representative; and any separation or subsistence allowance paid
What is Procurement Management? Public procurement management (PP) is a cornerstone of good governance. It cuts across all economic sectors and constitutes around 15-30% of the gross domestic product in all countries. Hence its significance for enhancing market competitiveness and sustainable development. Setting up effective national PP systems has often been a challenge, not least
Procurement Life Cycle The procurement life cycle separates procurement into three phases: planning, sourcing, and managing. These phases are further divided into eight distinct, but interrelated stages which are: Initiate Project It is essential to identify key stakeholders at the beginning of the procurement. Consider both internal and external stakeholders. Key stakeholders have interests and
What is Marketing Cost Analysis? In the Marketing cost analysis; the sales volume and the selling expenses are analyzed to determine the relative profitability of particular aspects of sales operations within a specified period of time. The first step in marketing cost analysis is sales analysis by territories, sales personnel, products, class of account, size
What is Sales Analysis? Sales analysis is the process of examining sales data to gain insights and understand various aspects of a company’s sales performance. It involves analyzing sales trends, patterns, and metrics to evaluate the effectiveness of sales strategies and make informed business decisions. Through sales analyses, management seeks insights on strong and weak
What is Sales Audit? In sales organizations, the sales audit is a systematic and comprehensive appraisal of the total selling operations. Sales audit appraises the integration of the individual inputs to the personal selling effort, identifies, and evaluates assumptions underlying the sales operation. It is a systematic, critical, and unbiased review field appraisal of the
What is Sales Control? Sales control is a function of management to ensure that operations are being carried out as per the plan to achieve the objectives. Sales coordination is essential to ensure the proper conduct of sales operations by different functionaries in the field. The Sales manager has to produce tangible results and for
What is Sales Territory? A sales territory is an economic unit that is set with the objective of planning and controlling sales efforts. Setting up sales territories facilitates matching sales opportunities with the firm’s selling efforts. Establishing or modifying sales territories and managing their efficient and effective coverage is an important part of sales management’s
What is Sales Quota? A sales quota is the estimated value or volume of sales expected to be achieved by the sales personnel over a given period of time. Sales quotas are set for salesmen, marketing units, or territories. Definition of Sales Quota These are the definitions of sales quota by authors: A sales quota
