To manage is to forecast and plan, to organize, to command, & to control”.

-planning is deciding in advance - what to do, when to do & how to do. Future course of action & deciding in advance the most appropriate course of actions for achievement of pre-determined goals.

-Organizing is the process of bringing together physical, financial and human resources and developing productive relationship for achieving organizational goals.

-Staffing is the function of manning the organization structure and keeping it manned.

-Directing is giving efficient orders for achievement of organizational purposes.

-Controlling is It implies measurement of accomplishment against the standards and correction of deviation if any to ensure achievement of organizational goals.

advantages:

- problem solving & decision making

- Planning is to achieve desired goals. 

- systematic thinking about ways & means for accomplishment of pre-determined goals.

- proper utilization of human & non-human resources.

- helps in avoiding confusion, uncertainties, risks, wastages etc.

Opening Activity

So... we're managing our businesses... right? How's it going? Managers come in many forms. Your teachers, coaches, parents, and friends all exhibit the characteristics of managers. Think about some of these people that you respect and with whom you've enjoyed working. How did they motivate you to work harder? How can you use this in your work? 


There are a lot of people that motivate me all the time in different ways. I respect everyone, but people who I care about are close friends and family. My greatest motivator is my best friend, because we are the same age she understand me very well and we think a like just like sisters, so so far she have been my  biggest motivator in different ways for example in working out, in studying harder in being successful, and everything else. I respect her opinions and she is the best person to talk to. 

Opening Activity

Name a product that is in the decline stage of it's life cycle. Make recommendations for the product at this stage and give reasons for your answer.


Decline stage is eventually when the sales begin to decline as the market become saturated, the product becomes technologically obsolete, or consumer taste change. 
The VCR player is an example of a product in the decline stage of its life cycle. Because there are new, better, more efficient products are coming out and they are smaller, easier and nicer. therefore, not a lot of people still use the VCR anymore.  

PYP

This weekend you worked on "PYP". What did you like about the product? What did you wish was different? Who would this product appeal to? How could you market to them within the school?


PYP is a personal yearbook page. I like the idea of having a page all about you, it's interesting looking at others pictures and activities and get to know new people, what they like and their hobbies and interest. 
the yearbook is a creative way to express your self, and it also a main point in representing the school.
What i like about the yearbook page is you can edit it the way you want, the decoration, designs, pictures, effects, and more others. The edit page gives you a lot of options beside create your own. This appears to all the students in the school and teachers and who ever want to buy the yearbook.

Guerilla Marketing

What is Guerilla Marketing?
the concept of Guerrilla Marketing was invented as an unconventional system of promotions that relies on time, energy and imagination rather than a big market budget.


The idea I like the best is the red slide instead of the stairs because it's fun it's faster and you don't have to take the stairs. Instead of walking the whole time you can take a little fun break and take adventure slide instead of stairs, it gives you a bit of fun time and wakes you up. Also it travels you faster, if the stairs take you a min the slide will take you seconds, and its for all ages. 

Generation Y

Do you think they are right about generation Y? How can you use this "consumer behaviour" analysis to further your company?


I think they are right about generation Y, this generation is more into taking the easy, simple way. they love communications texting, facebooking, yahoo, hotmails, tumblrs, and others. so If you come up with new products and someone buys it from your company, they will spread it around to friend, and friends to family and friends. so this way your business will be successful and work and what ever other products you will come up with, people will buy it because they liked the other product.

Opening Activity

Is it possible for a business to be solvent but not profitable? Why or why not?

Solvent is being capable of meeting financial obligation.
not profitable is loss-making, unprofitable.
Solvency is always a primary issue for the owner or chief financial officer of an on-going business. But it is a concern that goes well beyond the bean counters. It can also have a major impact on acquisitions, divestitures, payments to shareholders, reorganizations, tax filings, and other financial transactions.
it is possible fore a business to be able to meet the financial obligation for a not profitable business, it an be supported by some strong economy company, or can get their profit from donations.

Sample balance sheet

Define 5 of the 7 assets.
1- Cash: A current asset account which includes currency, coins, checking accounts, and undeposited checks received from customers
2- Petty cash: A current asset account that represents an amount of cash for making small disbursements for postage due, supplies, etc.
3- Temporary investments: A current asset account which contains the amount of investments that can and will be sold in the near future.
4- Inventory: A current asset whose ending balance should report the cost of a merchandiser's products awaiting to be sold.
5- Prepaid insurances: A current asset which indicates the cost of the insurance contract (premiums) that have been paid in advance.


In terms of accounts receivable what is a doubtful account?.
Name given to an account that records the sums (accounts) whose collection looks uncertain. Such accounts are termed 'bad debts' and are usually written off against the profit of the firm as expense. 


Look at each section (assets, liabilities, equity) in detail.
Assets: a single item of ownership having exchange value.
Liabilities: moneys owed; debts or pecuniary obligations.
Equity: something that is fair and just.


Explain the difference between assets, liabilities and equity.
Assets, liabilities and owners' equity are the three components that make up a company's balance sheet. The balance sheet, which shows a business's financial condition at any point, is based on this equation:

Assets = Liabilities + Owners' Equity

Briefly discuss the distinctive groupings under each section and explain why they exist. 
Assets 
cash
petty cash
temporary investments
accounts receivable - net
inventory
supplies
prepaid insurance

Liabilities
notes payable
accounts payable
wages payable
interest payable
warranty liability
unearned revenue

Stockholders equity
goodwill
trade names
common stock
retained earnings
treasury stock

Where are earnings shown on the balance sheet? What do earnings represent in terms of equity? 
retained earnings :A stockholders' equity account that generally reports the net income of a corporation from its inception until the balance sheet date less the dividends declared from its inception to the date of the balance sheet.