Perception – Meaning,Elements,Aspects,Process,How consumers handle risk

Perception   Perception is the process by which an individual selects, organizes and interprets stimuli into a meaningful and coherent picture of the world. It is how we see the world around us. Perception occurs when sensory receptors receive stimuli and categories them and assign certain meanings to them, depending on the person’s frame of reference.  A person’s frame of […]

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Lifestyle & Self-Concept – A Brief Introduction

Lifestyle   Lifestyle refers to the way consumers live and spend their time and money.  It is determined by one`s past experiences, innate characteristics and life situations. Lifestyle of a person is typically influenced by his/her needs, wants and motivations and also by external factors such as culture, family, reference group and social class. Lifestyle of a person involves his consumption […]

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Power – Meaning, Types & Contingency approach to Power

Power   Power is simply a means of influence. It refers to the capacity that a person has to influence the behaviour of another person for doing something he/she may not normally do. It can be understood in terms of an Agent(person with power) and a Target(person to be influenced by power). Hence, A Manager (Agent) has a potential influence over […]

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Organisation Structure-Types of Organisation Structure and Its Advantages and Disadvantages

Organisation structure An Organisation structure defines how functions, power and responsibilities are distributed and coordinated in an organization. It also determines the hierarchy within the organisation and the information flow between different levels of management. An Organisation structure is the outcome of the organizing process and usually depends the objectives and strategy of an organization.  An effective structure will result […]

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