An illustrative understanding about the types of leaderships prevalent in the contemporary society has been well identified by Raza (2016). According to Razaq, there are 12 types of leadership styles. These leadership styles can be well perceived through the research led by Vroom (2007).

The foremost style is that of the autocratic leadership style that is recognised as boss-oriented. This style can be exemplified by the autocratic ruling as practiced by Napoleon Bonaparte in 18th century. This style locks all the ways of consultations with subordinates.

The next is the democratic style of leadership. In this style, the subordinates are part of the decision making process, yet the ultimate decision is taken by the head in agreement with the subordinates. However, as exemplified by the democratic governance in the political system, like India.

In the modern international marketing scenario, the trend of cross-cultural leadership is getting tremendous hold. As exemplified by the leaders of the companies like McDonald and KFC, it is under this trend that the organisational leaders are very particular in mixing up with the culture of the market and follow the cross-cultural trend among the employees for controlling any kind of discrimination.

The laissez-faire kind of leadership can be noted in the organisational systems like advertising agencies and product design firms, where the employees are offered with enough liberty to develop the organisation (Gill, 2014). In these companies, the leaders offer least possible interference in the developing strategies of the departments, though remain fully aware of the same.

The transactional leadership trend as maintained at Hewlett-Packard, where the management is very strict in maintaining its status quo with the employees (Spahr, 2014). As reported by Spahr (2014), at Hewlett-Packard the followers of management are liable to gain immediate reward, and are idealised for keeping the orders of the leaders.

The trend of coaching leadership comprises the process of training and further supervising the subordinates. It is under this trend that Bersin & Associates derived the process of maintaining internal strategic management building structure, for a stronger futuristic foundation (Greene, 2012). Being highly-operational in character, this is a trend that emphasises in developing in-house staff as future managers.

The essence of charismatic leadership can be marked in the case of leadership trends as established by Richard Branson. It is under his charismatic leadership trend that Virgin as a company attained new heights.

 

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As noted by Armstrong (2006) miscalculation in the prediction of uncertainty and risks in the field of economics can bring in great fall to the entire existence of an organisation or the nation as a whole, it is therefore very important to have well balanced and assessed forecasting data. This is the reason that it is very important to have a forecast with minimal errors. For this purpose, Thomopoulos (2016) recommends Delphi method of forecasting as the most comprehensive of all. There are some added recommendations for minimising the errors in forecasting are judgmental decomposition, simulated interaction, damped causality, and structured analogies.

 

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  1.     Explain the impact of environmental forces on marketing.

 

– Micro and Macro are the two environmental forces that lay serious impact over marketing. The macro factors get noted through social forces, economic forces, political forces, legal forces, demography forces, and technological forces, as noted through PESTLE. Micro factors on the other hand are concerned with suppliers, resellers, target consumers, competition, and general population.

Under the factors of macro environment, the marketing approaches are more concerned in gaining demographic forces, whereby the issues of age, education, ethnicity, culture, and lifestyles of the population are analysed for strategic marketing implementations. In this pursuit, the economic and the technological domains of the company remain in association with the target market. The decisions of marketing are based on the physical, social and natural relevance as maintained by the particular population of the market. The companies are subject to abide with the legal as well as political norms of the respective nation, where the market has been planned for further growth of the organisation.

At micro level, the roles of the suppliers and resellers (inclusive of wholesalers and retailers) remain very strong. These factors control organisational success and hold the reputation of the company in initiating the marketing strategy of the product. The micro environmental forces are much serious about the participation of the consumers. Whether it is at the B2B level or the B2C level, at the local stand or at the international platform, the importance of the consumers are the most significant force in the marketing approach of any company. Appeal to the public in general remains as the key thread to all the marketing approaches under micro environment proceedings.

 

 

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— The relationship between income and consumption gets well illustrated OECD (Edt. 2013). According to the report of OECD (2013), in a nation the level of consumption by the respective population must remain proportionate to the national income of the country. In case of more consumption, the possibility is that people are paying more to the suppliers and hence more income to those to supply. However, there can be some exceptions. As for instance, if the population of a nation is buying things as per their demands from some other nation, then the expenditure is liable to get create more income opportunities for the other nation. This can stand vice versa, if some other nation is consuming from the selected nation. In this case, the consumption of the other nation will be the income of the selected country.

Thus, term income refers to the earnings attained by an individual or a nation, whereas consumption refers to the intake as consumed by an individual or a nation. These terms are interrelated to each other through the scale of demand and supply. The demand generates consumption, whereas supply generates income. The demand leads to consumption and thus the supply to this demand at a price creates income for the person or nation that is supplying the consumable demand.

 

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— The managerial efficiency of an organisation plays a vital role in attracting investors to the company. In this context, the research analysis by Paolini and Tena (2014) derived that the investors must gain adequate amount of faith on the managerial team of the organisation for investing at large. This remains practically noted, irrespective of the size of the firm. However, these scholars marked that the managerial capabilities of big firms are stronger than smaller forms and hence the investors are more attracted to the bigger firms for bigger investments.  The role of an efficient management in the arena of working capital turns up significant as it is based on his or her performance that the company becomes liable to gain growth. As they are responsible for the maintenance of the financial health of the organisation, the investors are very keen in checking over the portfolios of these managers, prior to investment. With higher level of satisfaction over the efficiency levels of the managers, the investors are very inclined to invest more in the particular company.

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