Name: Genevive Angel Anne A.

Tibay Date: August 19, 2022

Block: BSA 2 – 2 Subject: BE 4

BE 4 Assignment #1
1. Study Functions of Management (define each)
Planning
It is the fundamental function of management. It is concerned with planning a future
course of action and determining the most appropriate course of action for achieving pre-
determined goals. It is the systematic consideration of methods and means for achieving pre-
determined goals.
Organizing
It is the process of gathering physical, financial, and human resources and fostering
productive relationships among them in order to achieve organizational goals. Organizing a
business entails identifying and allocating human and non-human resources to the
organizational structure.
Staffing
It is the function of staffing and maintaining the organizational structure. Staffing has
become more important in recent years as technology has advanced, business sizes have
grown, human behavior has become more complex, and so on.
Directing
It is the part of the managerial function that causes organizational methods to work
efficiently in order to achieve organizational goals. It is regarded as the enterprise's life-spark,
causing people to act, because planning, organizing, and staffing are merely preparations for
doing the work.
Controlling
It entails measuring accomplishments against standards and correcting deviations, if
any, to ensure that organizational goals are met. The goal of controlling is to ensure that
everything happens in accordance with the standards. An effective control system aids in the
prediction of deviations before they occur.
2. Relate these functions to economics, managerial economics
Planning
Organizing
Staffing
Directing
Controlling
3. Study Porter’s 5 Forces Theory
Porter's Five Forces is a model that identifies and analyzes five competitive forces that
shape every industry and aids in determining an industry's strengths and weaknesses.
Porter's five forces are as follows:
1. Competition in the industry
2. Potential of new entrants into the industry
3. The threat of substitute products
4. Bargaining power of buyers
5. Bargaining power of suppliers
4. Choose a company/product, make a business analysis using Porter’s 5 forces theory.
How Under Armour fits into the athletic footwear and apparel industry.
Competition in the industry: Nike, Adidas, and newer players are putting pressure on
Under Armour. Nike and Adidas, which have significantly more resources at their
disposal, are making a move into the performance apparel market in order to gain
market share in this emerging product category. Because Under Armour lacks fabric or
process patents, its product portfolio may be copied in the future.
Potential of new entrants into the industry: The high capital costs of branding,
advertising, and creating product demand limit the entry of newer players into the sports
apparel market. Existing sports apparel companies, on the other hand, may enter the
performance apparel market in the future.
The threat of substitute products : The market for performance apparel, sports
footwear, and accessories is expected to expand further. As a result, this force does not
pose a threat to Under Armour in the near future.
Bargaining power of buyers: Customers of Under Armour include both wholesale and
end-user customers. Wholesale customers, such as Dick's Sporting Goods, have some
bargaining power because they can substitute Under Armour's products for those of
Under Armour's competitors to gain higher margins. End-user customers have less
bargaining power because Under Armour has a strong brand recognition.
Bargaining power of suppliers: Supplier bargaining power is limited by a diverse
supplier base. Under Armour's products are made by dozens of manufacturers in
various countries. This gives Under Armour an advantage by reducing suppliers'
leverage.
5. Identify an industry which is highly affected by “sugar shortage”, how do you think it
will affect the economy.
The makers of the country's three leading carbonated drink brands confirmed that there
was a shortage of premium refined sugar, a day after industry associations urged the
government to address the issue immediately.
Coca Cola Beverages Inc., Pepsi Cola Products Philippines Inc., and ARC
Refreshments Corp. said in a joint statement that there was a supply issue with "the key
ingredient in many of our products." Because of the shortage, this can lead to a price hike that
will also increase product cost in order to have a profit.