Organizing for Business WELCOME TO THE FIRST DAY OF TOMORROW

What’s in store:  1. Entrepreneurship – what’s that?!  2. Types of businesses – a comparison  3. Organizational structures of businesses – an analysis  4. Changes and adjustments businesses must make – Keeping with the times

Entrepreneurship  Starting a new business, managing it and running it  You could probably divide the world into two:  Entrepreneurs vs. employees

The headaches of the entrepreneur – a quick look  My questions to you:  Who currently has or have had a ‘real’ job?  Are you aware of your deductions on a pay cheque? If so, what are they/where do they go?  Let’s look at myself, Mr. Sum

When you’re not an entrepreneur…  Life seems kind of easy  Let’s look at myself, again… at BCCIS

BCCIS

The ultimate resolution to all headaches  Profit  PROFIT!!!!!  Revenue vs. Profit  Revenue is the total amount of money a business takes in during a given period of time  Profit is the total amount of money a business earns after factoring in various expenses and paying salaries  So… Revenue – Expenses = Profit

Where do profits come from?  Stakeholders of course!  Stakeholders are all the people who stand to gain or lose by the products, practices, and policies of a business  TPS: Who do you think these people/groups might be?

Everyone wants a piece of your business pie!

All right, let’s breathe… Switching gears a bit here  Two hunters are out in the woods when one of them collapses. He doesn't seem to be breathing and his eyes are glazed. The other guy whips out his phone and calls the emergency services. He gasps, "My friend is dead! What can I do?" The operator says "Calm down. I can help. First, let's make sure he's dead." There is a silence, then a gun shot is heard. Back on the phone, the guy says "OK, now what?"

Entrepreneurship  Impacts to society; creating wealth: The factors of production  1. Land and Natural resources  2. Labour  3. Capital  4. Entrepreneurship  5. Knowledge

Entrepreneurship  So how does it contribute to creating wealth?  TPS the following:  Land  Labour  Capital  Knowledge

So Then…  Entrepreneurship is what is required to bring any of the 4 factors together to allow them to work synergistically and become prosperous.  Ultimately pushing the economy forward  Economy – the production, distribution and/or trade, and consumption of goods and services among groups and individuals

Business Environment - Expert groups  There are 6 elements to the business environment:  1. Legal and regulatory environment  2. The economic environment  3. the technological environment  4. the competitive environment  5. the social environment  6. the global environment

The evolution of Business - A Canadian view  As technology progresses, and production becomes more efficient, what is the most immediate impact in the workplace?

A look into servicing and manufacturing sectors  Agriculture: As machines increase productivity and improves efficiency, less labourers are needed  This allows labourers to enter manufacturing jobs  As factories gain new technology, once again, less labourers are required  Labourers can now enter service jobs

Service jobs/industries  While manufacturing industries create tangible goods, servicing industries are intangible products  Ex: telecommunications, insurance, recreation, health care, education, etc.  Thought experiment

Questions  Think of a service or good that would appeal to the growing number of seniors (You may invent one). Would you be interested in trying to develop it? Why or why not  What are some of the diverse groups of people that managers must manage?  What are the factors that have led to two-income families  What accounts for the growth in the service-sector jobs? Why is it so essential for the economy