JAMB Commerce Past Questions & Answers - Page 103

The marketing concept is the use of marketing data to focus on the needs and wants of customers to develop marketing strategies that not only satisfy the needs of the customers.

Skilled manpower refers to the person who is trained, well-educated, energetic, experienced, devoted to their field, and is capable of doing any specific work in a balanced way and efficiently. This leads to efficiency and high productivity.

In a line structure organization, a supervisor exercises direct supervision over a subordinate. Also, authority flows from the top-most person in the organization to the person in the lowest ring. This is synonymous with the military structure where the chain of command is hierarchical with divisions and brigades responsible for administering groupings of smaller units.

Planning is the function of management that involves setting objectives and determining a course of action for achieving those objectives. It involves deciding what needs to happen in the future (today, next week, next month, next year, over the next five years, etc.) and generating plans for action

The Nigerian Stock Exchange daily publications are made up of the individual ratings and participation of listed companies in the market. It shows top gainers and losers and their market contribution as well as the value of shares as against the previous day.