WEDNESDAY 6/4

IC212
The 50 highest-earning athletes in the United States article.
TODAY:
-You took Quiz #1 based on Drucker Chapters 1-4.
-We discussed Chapters 3 & 4 in Drucker. Our discussion focussed on the purpose of a business, objectives for all businesses, and what profit maximization & profit motive are. The purpose of a business: To create a customer. The objectives of all businesses (6): Marketing, Innovation, Resources, Productiivity, Social Responsibility, Profit Requirements. Profit Maximization: The process by which a firm determines the price & output level that returns the greatest profit. Profit Motive: Explanation for businessman's guide to right action.

HOMEWORK:
-Read & be ready to discuss Drucker Chapters 5, 6, 7.
-Notecard for Chapters 5, 6, 7.
-Research potential Research Paper topics.