Question

After Hayworth Publishers realized that it was incurring losses, it set new objectives. These objectives were to increase revenues by at least 5 percent and reduce net losses by at least 80 percent. Which management function is used to set these goals and help the company meet them?

Answer 1

Answer:

PLANNING

Explanation:

Planning is the management function and process of thinking about the activities required to achieve a desired goal.

It is the first and foremost activity to achieve desired organizational results.

It involves the creation and maintenance of a plan, such that if the plan is followed, organizations can achieve their goals

Planning is also a management process, concerned with goal definition for a company's future direction and determines the resources to achieve such goals. To achieve goals, managers may develop plans, such as a business plan, sales plan or a marketing plan