HUM212: Introduction to Marketing [Type here] Assignment 1

Zeina Khaled Badawy 14p7051

3. Those are planning: deciding the business’s objectives

Organizing: Identifying and grouping the work, defining and delegating responsibilities.

Actuating: Keeping your team motivated.

Controlling: Ensure of success of the plan without any deviation.

For example, XYZ Architects (let’s just call it that), I have seen how they do their work for a month,
and I think it may have been one of the best I’ve seen. For the planning part, they somehow
managed to plan for the projects they need to get done, put a timetable for the work to be finished,
they sometimes didn’t meet that plan but they tried. For the organizing part, everyone was doing
their job as requested. Some of them may have lost the motivation at some point but their boss
always kept them going. All in all, they managed to go by the plan at around 90% success.

5. In my opinion, the planning part has got to be the part to get the most focus, because a good plan
minimizes the process period, minimizes the cost, hence maximizes the profit.

7. It’s a way to measure the success or failure of an organization.

Net Income: it is the simplest profit measure. it is the sum of money remaining when total expenses
— such as the cost of goods sold, general and administrative expenses, interest paid on debt, any
depreciation, and taxes — are subtracted from total sales.

EPS (Earnings Per Share): EPS is the measure of a company's profitability per outstanding share of
common stock.