Principles of Business Marketing and Finance Business Operations

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 Copyright © Texas Education Agency, 2011. All rights reserved. 2

Types of Organizational Structure Formal Structure Informal Structure Copyright © Texas Education Agency, 2011.

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 Copyright © Texas Education Agency, 2011. All rights reserved. 4

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 Copyright © Texas Education Agency, 2011. All rights reserved. 5

Principles of Effective Organization Span of Control • number of employees who are assigned to a particular work task and manager Types of Organizational Structures • Functional organization structure – work arranged within main business functions Matrix Organizational Structures • work is structured around specific project, products, or customer groups Copyright © Texas Education Agency, 2011. All rights reserved. 6

How Departments are Organized • By function • By product • By location Copyright

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 UNT in partnership with TEA, Copyright ©. All rights reserved Copyright (c) Texas Education Agency, 2011. All rights reserved. 8 8

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 – Smart. Art – Hierarchy Graph 9

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

Business Operations and Organizational Structures continued Planning, Organizing and Leading Copyright © Texas Education

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? Copyright © Texas Education Agency, 2011. All rights reserved. 12

Questions of the Planning Process • Applied answered when leaders meet with the management team UNT in partnership with TEA, Copyright ©. All rights reserved Copyright © Texas Education Agency, 2011. All rights reserved. 10 13

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 Copyright © Texas Education Agency, 2011. All rights reserved. 14

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 Copyright © Texas Education Agency, 2011. All rights reserved. 15

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 Copyright © Texas Education Agency, 2011. All rights reserved. 16

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 Copyright © Texas Education Agency, 2011. All rights reserved. 17

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, 2011. All rights reserved. 18

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, 2011. All rights reserved. 19

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 Copyright © Texas Education Agency, 2011. All rights reserved. 20

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 Power. Point 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, 2011. All rights reserved. 21

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, 2011. All rights reserved. 22

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 Power. Point) • 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 WWW. PHSBMFWEEBLY. COM Copyright (c) Texas Education Agency, 2011. All rights reserved. 23