MANAGEMENT

In such way as: in Australia more than two thirds of Australians peoples believe that they are currently living in a recession, this indicative the intensifying recessionary mindset influencing consumer behavior, about (41%) of Australians feel their lifestyle has been impacted by the recession. Australian consumers have been forced to re-evaluate their spending, and consumption. (Research and markets are web sit in 12/11/ 2009). In another survey the Brazilian respondents believed their country in recession, Brazilian consumers have become more quality conscious and savvier shoppers, but remain prudent spenders. Nearly half perceive that their lifestyle has been impacted by the recession (Research and markets web sit, sited in 15/10/2009). In the South-Eastern Asia (86%) of the Japanese consumers and (82%) of South Korean consumers believe that they are currently living in a recession, and (57%) of Japanese consumers and (25%) of South Korean consumers feel that their lifestyle has been impacted by the recession. (Research and markets are web sit in 9/10/2009). In the Arab world about (59%) of consumers in the United Arab Emirates (UAE) and 30% in Saudi Arabia believe that their country is in a state of recession, research shows that consumers are adjusting their consumption behaviors.

As result to this crisis, consumer faces daily challenges related to his financial and material safety, increase of unemployment rate, fluctuations in consumer prices, restrictions in loan accessing, fluctuations in currency exchange rate, etc, all these affect the consumer attitude in the consumption and purchasing process. Economic literatures mentioned that the rational consumer use disposable income to maximize the benefit of goods and services consumption and the consumer behavior is affected by two factors: the prices of goods and services, and disposable income. If there is any change in these factors, the consumer change his behavior and try to re-allocate of income and expenditure to reach a balance and maximize the benefits, (Hussein Majid, Saeed Afaf, 2003, Nasr Mohammed , Abdullah Shamiyeh 2008). Kotler, Ph 2000 mentioned that any economic activity aims to meet the actual or potential needs or desires of consumers. Strong consumer orientation requires knowledge of consumer characteristics, needs and purchasing behavior. Individual consumer behavior is defined as the sum of all motivations, attitudes and decisions that constitute his conduct in his capacity of end user of material and intangible products, (Antonides Gerrit , Raaij,Fred, 1998). Many surveys in several countries investigated the impact of GFC in consumer behavior.

The purpose of this study is to investigate the impact of the Global Financial Crisis (GFC) on consumer behavior in Jordan with this researchers to be developed (20) items of questionnaire which distributed 800 copy, the returned number was (650) questionnaire, the population of the study composed of all the Jordanian consumers, randomly selected. The study concluded that (58%) of the respondents reported that they aware of the GFC, and its impact on consumer behavior, about (62%), believed that the GFC effect the consumption, (58%) reported that GFC is causing inflation in Jordan, and about (67%) among respondent understand the GFC has an effect on the Jordanian economy. As the impact of the GFC on the consumer behavior in Jordan, the opinions of respondents were varying. About (63%) of the respondents reported that they turned to inexpensive substitute goods, and (61%) switched from buying luxury to essential goods, (57%) mentioned they are buying small quantities of goods. The shifting from the consumption to saving we notice that about (77%) disagree in this item. The GFC, began in 2007 in USA mortgage and financial sector, then affected all sectors, such as: the oil industry, automotive industry, food industry and others sectors.

Management information system helps the people in the management by providing the information about the management. The main objects in them are the technology, people and information. This information provided by the MIS is used in problem solving in the business. The documents in the business are completely so that it could be referred for future use.  They support the decision making system in the organization and experts system. They give good relation with the customer relationship. The data collected by the information system are proceeded to check they are real and no fake information are provided by the people in the organization. With the MIS the company can evaluate the advantage and the disadvantage of the company. When there is any problem it could correctly locate the error in the sector to be resolved. Without this information business could not be successful in the business. The information is considered to be an asset of the business in MIS. They also keep a tract on the consumers who buy the products. At anytime the information could be retrieved from the information system to begin a new business from the older one. These factors are important in an organization to develop the business n an excellent way.

Quality of the product is more important in the business to manage the quality there is a quality management that has the following components like quality planning, quality control and quality assurance. The quality not only depends on the product but also on the service provided by them. All the companies in the world are trying to enhance their quality as per people like the best quality providers in the country. So all the business people are more concentrating in the quality as if they improve their quality they could improve their market rate too. The quality management takes lot of steps in it like customer focus to attract the customer towards them. The leadership quality is more important in the quality management since they have to plan in a correct way so that the people in the organization could follow them. The process approach could be so effective so that the process works in an order. The company should improve gradually in the quality and the quality terms should be analysed regularly to improve them. The system approach is to be followed by the manager so it could be easy to read the activities of the management. The company improves only if the quality is given to the people.

Cost management is the part of the management accounting it analysis the cost of the budget and establishes the budget. The cost is measured in the currency, its the continuous process of events like production, concert and the final result of the product. The managers use the cost accounting to know the cost of the running business and able to calculate the resource of the organization. The cost management is classified into three like raw materials, labour and indirect expenses. The category should be maintained by the manager so that they can calculate the production overheads and selling overheads. The cost is calculated by the nature of the element and selling the product distributing the product and in administration of the business. There is a standard cost accounting for each and every organization but it differs sometimes to the economic of the country. The cost management is to be followed in all organization else what is the economic condition of the business could not be known by the manager. The organization is not complete without the cost accounting. Cost accounting differs to business to business as the materials and production is based on the individual organization. The cost accounting is managed by the manager as the part of his work.

Board of directors are the persons who selected by the members of the association to regulate the company in a join hands. Board of directors are sometimes called as board of governors, board of managers, board of trustees and executive board. The people in the board has the power to take decision in a group and one cant take his own decisions they have to discuss with other members and then only the activities can proceed. The board members are selected by the people in the organization by election the person getting more number of votes are announced as board director. The board of directors are selected to govern the organisation in a well established way; they take in-charge of selecting, appointing, supporting and reviewing the performance of the employees. They are the persons who approves annual budget. They are responsible for calculating salaries and bonus to the employees. They are whole responsible for profit and loss of the company. They keep on innovating new ideas so that they could improve the economic condition of the company. The management is the board of members who are very important in the organization. The transaction of the company is maintained by the board of directors, they have to approve any new ideas before it’s followed.