What is Management Myopia?
Management Myopia
Most of the companies set strategic plans in maximizing profit from a long term perspective, And in the other hand, Management myopia is to make planning and take decisions to obtain short-term gains instead of long-term profits.
Management myopia is an activity that supports current income to the expense of long haul esteem. For an organization to achieve long term success, they must be focused on marketing the customer needs rather than selling its products.
And here marketing involves the whole process of advertising, selling, promoting and delivering products or services to consumers. This is not enough to say, the most important thing is to provide satisfaction to the consumer or target audience at full extent with their products or services. If consumers become satisfied then profit will be ultimately generated.
A company or an enterprise will achieve either short term profit or long term profit if there is effective marketing and is possible through effective informal communication and a lot of effort.
The main purpose of marketing is to draw customers’ attention and maintain strong relationships with them.
If it seems that there should be more points of Management Myopia then please let me know in comment box.
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