Page 366 - Business Principles and Management

project:
MY BUSINESS , INC.

PL ANNING AND ORGANIZING YOUR BUSINESS
As you prepare to become a new business owner, you will spend the major-
ity of your time on planning and organizing activities. If you recognize the
importance of planning to the success of a new business, you will be willing
to devote the necessary time to it. Starting with a business plan, you must
develop goals, budgets, schedules, policies, and procedures. As you add
employees, you will have to make decisions on how to organize and divide
work so that it will be completed effectively. In the project activities for
this chapter, you will plan and organize your business.

DATA COLLECTION
1. Meet with your business mentor and discuss the importance of plan-
ning and the types of planning tools he or she uses.
2. Go to several company or organization Web sites and read their
vision and mission statements. Note several points you would like
to include in your own company’s vision and mission statements.
3. Using the Internet or your library, find and read several articles
on ways that businesses are reorganizing work for more effective
operations. Summarize the key points from those articles that you
believe are useful to small businesses.
4. Locate several examples of organization charts for small businesses.
Look for common elements and unique features. Consider how you
can use the information in planning an organizational structure for
your business that will support planned business growth.

ANALYSIS
1. Divide a sheet of paper or word-processing document into two
columns. Label one column “Strategic Planning” and the other
“Operational Planning.” In each column, list as many areas of
planning as you can that must be completed for your business.
2. Write a brief vision statement that reflects your vision of your com-
pany’s reason for existing. Then write a mission statement that gives
your company purpose and direction.
3. For each of the planning tools discussed in this chapter, identify how
and when you will use the tool in your business. Prepare a one-
month planning schedule in which you list when you will use each
tool.
4. Assume you have hired two full-time and four part-time employees
to help you operate your business. Consider the operations and ac-
tivities that must be completed and prepare an organizational
chart in which you list job titles and duties for each employee.
Identify whether the organizational structure is line, line-and-staff,
or some other type. Why do you believe that structure will be most
effective?

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