Principles of Management – Assignment 1

Spring 2022

BSM 176

Name: Abdulla Z S M Alsaeed

ID: 210100366

I. Differentiate the following terms: Cite examples (2 Marks

each)

1. Planning and Controlling:

• Planning and Decision Making:

Planning is determining goals and deciding how best to achieve
them decision making is selecting the best course of action

• Controlling:
Monitoring and evaluating activities

2. Suppliers and Regulators

• Suppliers: An organization that provides resources for other organizations.

-example of suppliers: Coca-Cola ,Packing manufactures.

• Regulators : A unit that has the potential to control, legislate, or otherwise

influence the organization’s policies and practices.

Example of regulators : food and drug administration, environmental

protection agency.

II. Answer the following question. Cite examples wherever necessary. (4

Marks)

• Choose any company and apply the STEPI factors to it. (Write an introduction
for the company and then apply the different factors.)
-The Coca-Cola Company (NYSE: KO) is a total beverage company with
products sold in more than 200 countries and territories.

• Our company’s purpose is to refresh the world and make a difference. Our
portfolio of brands includes Coca-Cola, Sprite, Fanta and other sparkling soft
drinks. Our hydration, sports, coffee and tea brands include Dasani, smart
 water, vitamin water, Topo Chico, Powerade, Costa, Georgia, Gold Peak,
Honest and Ayataka. Our nutrition, juice, dairy and plant-based beverage
brands include Minute Maid, Simply, innocent, Del Valle, fair life and Ades.

• We’re constantly transforming our portfolio, from reducing sugar in our drinks
to bringing innovative new products to market. We seek to positively impact
people’s lives, communities and the planet through water replenishment,
packaging recycling, sustainable sourcing practices and carbon emissions
reductions across our value chain. Together with our bottling partners, we
employ more than 700,000 people, helping bring economic opportunity to
local communities worldwide.

In STEEPLE Analysis S Stands for Social

In the social step for STEEPLE analysis, you have to look carefully at the
social. You will also have to judge the cultural changes which take place in the
business environment. This step often includes. This is because it is important
to see trends and patterns.

You might need to study population growth, consumer attitudes, age

structure, or lifestyle changes when analyzing the social environment. The
analysis might point out any faults in your strategy. It can also provide new
ideas.

n STEEPLE Analysis T Stands for Technological

The business world has become different from what it was in the past. A lot of
these behavioral changes are a result of technological changes. Technology
has advanced in all parts of the world. The importance of these changes
depends on the business market.

Changes in the method of production can pose new opportunities. These can
help to improve your company’s profit margin, but these need huge initial
investments.
You should understand that these technological changes can impact demand.
Advancement in technology can create new markets and new opportunities.
By monitoring the technology industry, you can capitalize more on changes.

n STEEPLE Analysis E Stands for Economic

The economic situation will change a lot of times throughout the company’s
lifetime. You have to weigh the present levels of inflation, economic growth,
unemployment, and international trade. By doing so, you can carry out your
strategic plan better.

For example, if the trends suggest that your country might be a victim of the
recession, you should make small changes in the capital investment plan.
Changes are also needed in product launch strategies.

In STEEPLE Analysis E Stands for Environmental

The second E in STEEPLE is for the environment. All businesses impact their
environment. The impacts vary from business to business. This impact can
either be negative or positive. It is negative in cases of pollution or waste. It
can be positive when the environment gets benefits like processing and
cleaning waste.

In STEEPLE Analysis L stands for Legal

Everyone hopes that their business goes as they wish. It is not easy to shape
a business. The legal limits and regulations avert negative behaviors. These
elements also increase the cost in many industries.

To operate legally in the environment, it must follow the laws. The business
should focus on health, safety, employment, and even competition. There are
many other factors which you should watch. To ensure compliance, you need
to check on new legal requirements.

In STEEPLE Analysis E stands for Ethical

This E in STEEPLE refers to the range of social values that shape business
behavior. The values provide a basis for what is right and what is not. You
must always check the company’s ethical factors. The ethical ideas of a
country will not change overnight. But, small changes in morality take place
over time
I suggest using the concept of social responsibility to take your company
to a better ethical standing.