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Principles of Business, Marketing, and Finance

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1 Principles of Business, Marketing, and Finance
Business Operations and Organizational Structures Copyright © Texas Education Agency, All rights reserved

2 Business Organization and Management
How a Company is Run Managerial Structures Organizational chart-shows how the business is structured and who is in charge of whom Line authority-managers at the top of the organization are in charge of those beneath them Centralized organization-gives authority to a number of different managers to run their own departments Give examples of a line authority and a centralized organization. Conduct class discussion about the pros and cons of each form of organization. Copyright © Texas Education Agency, All rights reserved.

3 Types of Organizational Structure
Formal Structure Informal Structure Formal Structure-departmentalization divides responsibility among specific units or departments. Informal Structure-used when a business does not need a big marketing or distribution network, does not need a lot of managers Copyright © Texas Education Agency, All rights reserved.

4 Guidelines for Businesses
Mission Statement-short specific reason why the business exists and what it wants to achieve Goal-precise statement of results the business expects to achieve Policies-guidelines used in making consistent decisions Procedures-descriptions of the way work is to be done Read your school or school district Mission Statement to the class. Break the class into small groups. Each group must choose a business and write a mission statement for the business. Copyright © Texas Education Agency, All rights reserved.

5 Principles of Effective Organization
Responsibility-the obligation to complete specific work Authority-right to make decisions about how responsibilities should be accomplished Accountability-taking responsibility for the results achieved Unity of Command-clear reporting relationship for all staff of a business Go through an example of a business procedure used by a business where students shop or have a student give an example of a procedure used at the business where he/she is employed. Copyright © Texas Education Agency, All rights reserved.

6 Principles of Effective Organization
number of employees who are assigned to a particular work task and manager Span of Control Functional organization structure – work arranged within main business functions Types of Organizational Structures work is structured around specific project, products, or customer groups Matrix Organizational Structures Copyright © Texas Education Agency, All rights reserved.

7 How Departments are Organized
By function By product By location Copyright © Texas Education Agency, All rights reserved.

8 UNT in partnership with TEA, Copyright ©. All rights reserved 8
Levels of Management Top Level Managers Set goals Plan for the future Middle Managers Carry out the decisions of top management Plan and control operations Operational Managers Oversee daily operations Supervise workers to meet deadlines Ask students to draw an organization chart for the business where they are employed or have been employed in the past. If they have never been employed then think about the school system and how the employees and students would fit in an organizational chart starting with the superintendent of the school system down to the students. UNT in partnership with TEA, Copyright ©. All rights reserved Copyright (c) Texas Education Agency, All rights reserved.

9 Use Microsoft Word – Insert Tab – SmartArt – Hierarchy Graph
Design an Organizational Chart Assignment Many schools are organized using a functional organization structure. Teachers are organized into departments such as English, Math, Science, and Business. The matrix organizational structure is based upon specific projects, products, or customer groups. Design an organizational chart that illustrates a matrix structure for our school. You must include the schools mission statement and include all Principals and counselors. Use the example on the next slide for guidance. Use Microsoft Word – Insert Tab – SmartArt – Hierarchy Graph

10 Design an Organizational Chart Assignment
You can add more boxes and move them up or down in your hierarchy by using the SmartArt Tools Design Tab and then click Text Pane. Use Tab, Enter and Backspace buttons to add or move people in your chart. Utilize to find the info. necessary to complete your chart

11 Business Operations and Organizational Structures continued
Planning, Organizing and Leading Ask students to answer Questions #1-5 under Part B for organizing a prom Copyright © Texas Education Agency, All rights reserved.

12 Copyright © Texas Education Agency, 2011. All rights reserved.
Planning Long-range planning-top-level management decides how the company should perform Planning Questions Management Must Address What must be done? Who will do it? How will the work be grouped? Who supervises whom? Who makes decisions about the work to be done? Ask students to answer Questions #1-5 under Part B for organizing a prom Copyright © Texas Education Agency, All rights reserved.

13 Questions of the Planning Process
Applied and answered when leaders meet with the management team UNT in partnership with TEA, Copyright ©. All rights reserved Copyright © Texas Education Agency, All rights reserved.

14 Copyright © Texas Education Agency, 2011. All rights reserved.
Organizing Assign managers different tasks Coordinate activities of managers Each manager organizes his/her department and knows what other managers are doing Must determine who makes decisions and who answers to whom Explain why managers must understand the team concept and why it is important to respect the work completed by other managers Copyright © Texas Education Agency, All rights reserved.

15 Copyright © Texas Education Agency, 2011. All rights reserved.
Leading Set Standards -so managers know their goals Communicate with Managers -to provide guidance and resolve conflicts Encourage Employees -offer incentives such as pay raises and promotions Ask students for a list of leadership characteristics. Then ask students to circle the characteristics they possess Copyright © Texas Education Agency, All rights reserved.

16 Copyright © Texas Education Agency, 2011. All rights reserved.
Controlling Keeping the Company on Track-to meet all goals Keep track of the budget, the schedule, and the quality of the product Monitor employees and review their performance Monitor customer satisfaction Ask students why customer satisfaction should be a part of the company organization. Then ask students why customer service should be the #1 priority for the company. Copyright © Texas Education Agency, All rights reserved.

17 Copyright © Texas Education Agency, 2011. All rights reserved.
Managers Most Managers Begin their careers as company employees Are promoted after they have gained experience and have shown leadership qualities Managerial Qualities Ability to perform varied activities Ability to work under pressure Effective communication Interpersonal skills Ability to gather and use information Survey the class to determine how many students have jobs. Then ask students to list characteristics needed to be a manager at their workplace. Copyright © Texas Education Agency, All rights reserved.

18 Advantages Associated with Being a Manager
Higher earnings Prestige More influence on how the company is run Greater control over personal time Copyright © Texas Education Agency, All rights reserved.

19 Disadvantages Associated with Being a Manager
Take the blame when things go wrong Wrong decisions are costly and can affect numerous employees Can have an adverse affect on relationship with lower-level employees Copyright © Texas Education Agency, All rights reserved.

20 Copyright © Texas Education Agency, 2011. All rights reserved.
Teamwork Collaboration is important Flexibility, creativity, good communication, shared goals Work as a team-to accomplish company goals Brainstorm for solutions Listen to team members Ask students why listening is so important in the workplace. Then describe the importance of all employees taking ownership in the goals of the company. Copyright © Texas Education Agency, All rights reserved.

21 Copyright (c) Texas Education Agency, 2011. All rights reserved.
Planning for Success The PHS band has been selected to participate in the Rose Bowl Parade. You have six months to raise $22,000 for the trip to Pasadena, California. Your team (4 or 5 people) must determine tasks that need to be completed during the six months to raise the $22,000. You will present your plan of action using a PowerPoint Presentation that details how you will raise the money what each group members role is and how they contribute to the cause. Copyright (c) Texas Education Agency, All rights reserved.

22 Planning for Success Part 1
Determine your group and its members Decide who will be manager/leader Brainstorm and decide ways your group will raise the money and what roles group members will have. Compile fundraisers and who is in charge of functions on worksheet and turn in. Copyright (c) Texas Education Agency, All rights reserved.

23 Planning for Success Part 2
Now as a group you will take your brainstorm ideas and put them in a presentation of your choice (Prezi or PowerPoint) You will need a title slide and at least one slide for each idea that you have come up with. Make sure to fully explain your idea, how much money it could possibly make and who will be in charge of planning and executing it. Turn in to Copyright (c) Texas Education Agency, All rights reserved.

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