Question

After Hayworth Publishers realized that it was incurring losses, it set new objectives. These objectives were to increase revenues by at least five percent and reduce net losses by at least 80 percent by the end of the next fiscal year.

Answer 1

The planing management functions is used to set these goals and determining a means for the company to meet them.

Explanation:

Consider the provided information,

Planning is the management role which includes setting goals and determining a course of action to achieve those goals.

Here, Publishers realized that it was incurring losses, it set new objectives. These objectives were to increase revenues by at least five percent and reduce net losses by at least 80 percent by the end of the next fiscal year.

That shows the primary stage to solve problems creatively. He decide a plan of action so that the desired outcomes can be achieved.

Hence, the planing management functions is used to set these goals and determining a means for the company to meet them.