Effectiveness in the context of "Marketing mix"

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⭐ Core Definition: Effectiveness

Effectiveness or effectivity is the capability of producing a desired result or the ability to produce desired output. When something is deemed effective, it means it has an intended or expected outcome, or produces a deep, vivid impression.

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👉 Effectiveness in the context of Marketing mix

The marketing mix (4 Ps) is the set of controllable elements or variables that a company uses to influence and meet the needs of its target customers in the most effective and efficient way possible. These variables are often grouped into four key components, often referred to as the "Four Ps of Marketing."

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Effectiveness in the context of Time management

Time management is the process of planning and exercising conscious control of time spent on specific activities—especially to increase effectiveness, efficiency and productivity.

Time management involves demands relating to work, social life, family, hobbies, personal interests and commitments. Using time effectively gives people more choices in managing activities. Time management may be aided by a range of skills, tools and techniques, especially when accomplishing specific tasks, projects and goals complying with a due date.

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Effectiveness in the context of Efficacy

Efficacy is the ability to perform a task to a satisfactory or expected degree. The word comes from the same roots as effectiveness, and it has often been used synonymously, although in pharmacology a distinction is now often made between efficacy and effectiveness.

The word efficacy is used in pharmacology and medicine to refer both to the maximum response achievable from a pharmaceutical drug in research settings, and to the capacity for sufficient therapeutic effect or beneficial change in clinical settings.

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Effectiveness in the context of Traditional Chinese medicine

Traditional Chinese medicine (TCM) is an alternative medical practice drawn from traditional medicine in China. A large share of its claims are pseudoscientific, with the majority of treatments having no robust evidence of effectiveness or logical mechanism of action. Some TCM ingredients are known to be toxic and cause disease, including cancer.

Medicine in traditional China encompassed a range of sometimes competing health and healing practices, folk beliefs, literati theory, Taoist and Confucian philosophy, herbal remedies, food, diet, exercise, medical specializations, and schools of thought. TCM as it exists today has been described as a largely 20th century invention. In the early twentieth century, Chinese cultural and political modernizers worked to eliminate traditional practices as backward and unscientific. Traditional practitioners then selected elements of philosophy and practice and organized them into what they called "Chinese medicine". In the 1950s, the Chinese government sought to revive traditional medicine (including legalizing previously banned practices) and sponsored the integration of TCM and Western medicine, and in the Cultural Revolution of the 1960s, promoted TCM as inexpensive and popular. The creation of modern TCM was largely spearheaded by Mao Zedong, despite the fact that, according to The Private Life of Chairman Mao, he did not believe in its effectiveness. After the opening of relations between the United States and China after 1972, there was great interest in the West for what is now called traditional Chinese medicine (TCM).

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Effectiveness in the context of Continual improvement process

A continual improvement process, also often called a continuous improvement process (abbreviated as CIP or CI), is an ongoing effort to improve products, services, or processes. These efforts can seek "incremental" improvement over time or "breakthrough" improvement all at once. Delivery (customer valued) processes are constantly evaluated and improved in the light of their efficiency, effectiveness and flexibility.

Some see continual improvement processes as a meta-process for most management systems (such as business process management, quality management, project management, and program management). W. Edwards Deming, a pioneer of the field, saw it as part of the 'system' whereby feedback from the process and customer were evaluated against organisational goals. The fact that it can be called a management process does not mean that it needs to be executed by 'management'; but rather merely that it makes decisions about the implementation of the delivery process and the design of the delivery process itself.A broader definition is that of the Institute of Quality Assurance who defined "continuous improvement as a gradual never-ending change which is: '... focused on increasing the effectiveness and/or efficiency of an organisation to fulfil its policy and objectives. It is not limited to quality initiatives. Improvement in business strategy, business results, customer, employee and supplier relationships can be subject to continual improvement. Put simply, it means 'getting better all the time'.' "

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Effectiveness in the context of Civil service reform in developing countries

Civil service reform is a deliberate action to improve the efficiency, effectiveness, professionalism, representativity and democratic character of a civil service, with a view to promoting better delivery of public goods and services, with increased accountability. Such actions can include data gathering and analysis, organizational restructuring, improving human resource management and training, enhancing pay and benefits while assuring sustainability under overall fiscal constraints, and strengthening measures for performance management, public participation, transparency, and combating corruption.

The academic literature on civil service reform has provided arguments and counterarguments clarifying how several approaches to reform affect the overall performance of the civil service. The increasing availability of empirical data allows to test the effectiveness of specific reforms in a given context. While designing effective civil service reforms is a tremendously complex task considering that the right mix of corruption control and performance improvements may vary greatly across and within countries, empirical as well as qualitative research can contribute to the body of evidence-based knowledge on civil service reforms in developing countries.

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Effectiveness in the context of Internal audit

Internal auditing is an internally-administered assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes. Internal auditing might achieve this goal by providing insight and recommendations based on analyses and assessments of data and business processes. With commitment to integrity and accountability, internal auditing provides value to governing bodies and senior management as an objective source of independent advice. Professionals called internal auditors are employed within organizations to perform the internal auditing activity.

The scope of internal auditing within an organization may be broad and may involve topics such as an organization's governance, risk management and management controls over: efficiency/effectiveness of operations (including safeguarding of assets), the reliability of financial and management reporting, and compliance with laws and regulations. Internal auditing may also involve conducting proactive fraud audits to identify potentially fraudulent acts; participating in fraud investigations under the direction of fraud investigation professionals, and conducting post investigation fraud audits to identify control breakdowns and establish financial loss.

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