3.4 We know what's best for you: high-credence services

The professional's knowledge and experience adds value to the services provided by lawyers and accountants. These types of service are classed as high-credence services. Credence means trust. A lawyer has ‘credentials’ to handle your case – their qualifications are written evidence of trustworthiness and authority.

High-credence services are found in both the commercial and the non-profit sectors. Services are mainly, by their very nature, intangible, so customers have diff
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2.2 Marketing as a job title

The term ‘marketing’ became common in the UK during the 1960s. During that time it was quite common for businesses to rename their sales departments marketing departments. Communications and sales managers became marketing managers. Stephen King called this ‘thrust marketing’ (King, 1985). Although the functional name changed, managers typically still placed an emphasis on selling what the organisation made or the services it offered, cutting costs and manipulating prices, rather than
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Introduction

This unit is divided into two sections: ‘Understanding market orientation’ and ‘Managing a market-led organisation’. In Section 1 ‘Understanding market orientation’ sets out different approaches to marketing. I argue that marketing should not be the property of just the marketing department but an organisation-wide philosophy that centres on satisfying customers. The way in which marketing ideas can be applied to non-profit organisations is also discussed.

In Section 2 ‘Ma
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Activity 5: Ways of thinking

Allow 60 minutes for this activity.

This activity builds on, and reinforces, Activity 4, as it is also designed to illustrate how all of us unconsciously draw from our cultures in order to interpret situations. If we as individuals do this, then organisations will do the same – after all, or
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3.5 Building the relationship: developing your donors

Donor development is all about ensuring that you and your donors get the most you can from your relationship in ways which are mutually agreeable and beneficial. It is the process by which, from their very first contact onwards, you can encourage and enable donors and supporters to make the maximum contribution they both desire and are capable of.

Effective donor and supporter development depends hugely on your capacity to keep an accurate record of each donor's unique involvement with
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3.3 Deciding what to ask for

What you ask for will very largely determine what you receive. You are therefore faced with a crucial but complicated set of judgements and choices in translating your overall requirements into suitable ‘ask size’ chunks. Your global requirement for support has to be refined into a range of specific requests which it will be feasible and appropriate to direct to the particular cohort(s) of donors and supporters you seek to involve.

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2 Asking someone for something: the core skill

A simple question goes to the very heart of your work in winning resources and support: how do you ask people for something? You are fundamentally in ‘the asking business’ – so what are the core processes and skills of asking?

‘Making the ask’ is a phrase which is often used to describe this absolutely vital feature of your work. Your work may involve all sorts of activities. But your success and effectiveness in securing resources and support will be very limited if you do no
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4.2.5 Choosing the best option

When you have collected a broad range of options, each possible solution should be assessed for its feasibility. As the feasible options are narrowed down, you may choose to analyse three or four in detail. Appraise the possible consequences of implementing each of these, against your criteria for cost, time and quality.


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4.2.4 Collecting possible solutions

This is the most creative part of the problem-solving process: it involves breaking the mindset within which situations are normally interpreted. Brainstorming is a good way to generate new approaches, by making sure that even apparently ridiculous ideas are not thrown out in the initial stages. Brainstorming has two basic principles:

  • quantity is more important than quality, in the creative phase;

  • critical comments are not allowed, at
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1.6 Evaluation matrices

When there are several courses of action, then one way of thinking clearly about the advantages and drawbacks of the different courses is to compile an evaluation matrix.

Box 1: Six steps to creating an evaluation matrix

  1. List the various options.

  2. <
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1.2.1 Selecting the scales

The scales that are used determine the look of the graph. For example, if the horizontal distance between ‘Year 1’ and ‘Year 6’ shown in Figure 2 were doubled, the line would be stretched to double its present length. If the horizontal distance were halved,
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Learning outcomes

By the end of this unit you should be able to:

  • understand the value of graphics as visual thinking tools;

  • give examples of relevant graphics used in the business context.


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4.1 Introduction

Greenley and Foxall (1998) emphasise that the marketing literature typically focuses on only two stakeholder groups (consumers and competitors), arguing that this should be extended to include other key stakeholders. Freeman (1984) highlights the interdependence of organisations and their stakeholders, i.e. ‘any group or individual who can affect or is affected by the achievement of the organisation's objectives’ (p. 46). This definition emphasises the wide range of individuals, groups an
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References

Bachelier, L. (1900) Théorie de la Speculation, Paris, Gauthier-Villars.
Banz, R. (1981) ‘The relationship between return and market value of common stocks’, Journal of Financial Economics, Vol. 9, pp. 3–18.
Barber, B. and Odean, T. (2000) ‘Trading is hazardous to your wealth: the common stock investment performance of individual investors’, <
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3.7 Interest rate risk

This has to be seen in conjunction with the previous comments about the secondary market in shares and debt instruments. An efficient secondary market can ensure that there is always a ready buyer for an investment, but the price at which the investment can actually be sold will depend entirely on market conditions at the time of sale. The secondary market price will not necessarily bear any relation to the price originally paid by the investor. The following example illustrates the general p
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6.6 Professional bodies and societies

Consider joining a learned society or professional organisation. They can be very useful for conference bulletins as well as in-house publications, often included in the subscription. Don't forget to ask about student rates. Try looking for the websites of learned societies associated with your subject area (e.g. The Royal Society, the Institute of Electrical
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6.5 RSS

RSS (‘Really Simple Syndication’ or ‘Rich Site Summary’) newsfeeds supply headlines, links, and article summaries from various websites. By using RSS ‘feedreader’ software you can gather together a range of feeds and read them in one place: they come to you, rather than you having to go out and look for breaking news. The range of RSS feeds on offer is growing daily. There is probably a feed to cover all aspects of your life where you might need the latest information, and you may
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4.5 M is for Method

Method is about the way in which a piece of information is produced. This is quite a complex area as different types of information are produced in different ways. These are a few suggestions to look out for:

Opinions – A lot of information is based on the opinion of individuals. They may or not be experts in their field (see P for Provenance) but the key message is to be clear that it is just an opinion and must be valued as such.

Research – You don’t have t
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2.2.1 Checklist of common features

  • Is there any online help?

  • Can I do a simple search?

  • Can I look at the information in both short and detailed form?

  • Can I choose where in the record I want my search terms to be found?

  • Can I search for phrases?

  • Can I combine search terms?

  • Can I use truncation?

  • Can I use wildcards?

  • Can I do an advanced search?

  • Can I get a list
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2.2 Modern history – an evolution

So, what is modern about ‘modern medicine’? Several key scholars – notably Schwartzman (1976), Gambardella (1995), Galambos and Sturchio (1996) and Henderson et al. (1999) – have detected a pattern in the recent development of the industry which may help address this question. According to these scholars, the modern history of the industry can be analysed as an evolutionary process. This may involve changes, which are self-created, or adaptation to discrete technological or institutio
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