APPLIED ECONOMICS - QUARTER 2 - LESSONS 1-2

RECAP

Business Organizational Structure

​8 Fundamental Principles of Business

​Whether you work for a company or build your own business. your understanding of these 8 fundamental business principles can help you find success

1. Have a Quality Product

2. Know your industry and Competitors

3. Promote your product and services

4. Build a great staff

5. ​Understanding Organizational Structure and Design

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​ 6. Use Capital and Cash Flow Wisely​

7. Understand the Fundamental Principles of Accounting and Finance

8. Respect Your Customer​

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Open Ended

FULL NAME (Last Name, First Name, Middle Initial)

Open Ended

ABM 12 & SECTION _______________

Open Ended

Why do you think this industry is attractive in the market even during the pandemic?”

​Advancing the Lesson

Some text here about the topic of discussion

​We Must Know The Organizational Structure and Its Characteristics Before Starting Up a Business

Some text here about the topic of discussion

Some text here about the topic of discussion

• ​An organizational structure outlines how certain activities are directed to achieve the goals of an organization.

• Successful organizational structures define each employee's job and how it fits within the overall system.

• A centralized structure has a defined chain of command, while decentralized structures give almost every employee receiving a high level of personal agency.

• Types of organizational structures include functional, divisional, flatarchy, and matrix structures.

• Senior leaders should consider a variety of factors before deciding which type of organization is best for their business, including the business goals, industry, and culture of the company.

​Organizational Structure and Its Characteristics In Creating a Business

Open Ended

If you are going to put up a business during these trying times, what would it be and why?

Multiple Choice

An example is Business Organization. ​What is an Organization?

• An organization is a systematic grouping of individuals brought together to accomplish a goal

• The purpose of an organization is normally expressed in a goal or set of objectives for the organization to accomplish (Mission Statement)

• An organization’s employees or members are the driving force in accomplishing a purpose; therefore good employee management and organizational structure is essential

• ​Systematic Structures of an Organization

Multiple Choice

​Most organizations can be divided into _______ basic levels.

• 2

• 3

• 4

• 5

Multiple Choice

_____ defines how job tasks are formally divided, grouped, and coordinated.

• Organizational structure

• Work speacialization

• Departmentalization

• Organizational behavior

Multiple Choice

The chain of command in an organization is the _______?

• The link that exists between different departments

• Method of communication used in the organization

• Line of authority flowing down the organisation

Multiple Choice

A situation where a subordinate report to one supervisor is _______?

• chain of command

• unity of command

• span of control

• hierarchy

Multiple Choice

Individuals, who invest in a corporation by buying stock are called?

• subsidiaries 

• conglomerates    

• cooperatives     

• stockholders

Multiple Choice

A business that provides goods or services without seeking profits for distribution to individual members is a:

•  non-profit organization

• partnership   

• cooperative

• corporation

Multiple Choice

A business organization that is treated by law as if it were an individual person (can sue and be sued) is a?

• cooperative    

• partnership

• sole proprietorship

• corporation

Multiple Choice

Certificates of ownership in a corporation are called:

• bonds

• dividends

•  stocks

•  interest

Multiple Choice

Positive and controllable factors that contribute to the success of parks

• Strength

• Weaknesses

• Opportunities

• Threat

Multiple Choice

Negative factors that are beyond the control of Business Management.

• Strength

• Weaknesses

• Opportunities

• Threat

Multiple Choice

 

Internal resources such as skilled, knowledgeable staff.

• Strength

• Weakness

• Opportunity

• Threat

Multiple Choice

Things your company lacks.

• Strength

• Weakness

• Opportunity

• Threat

Multiple Choice

The information in the SWOT must be?

• Honest and Real

• Theoretical

• Unrealistic

• Based on future events

Multiple Choice

Negative press/media coverage.

• Strength

• Weakness

• Opportunity

• Threat

Multiple Choice

You conducted a SWOT analysis and found out that a new competitor is opening within 5 miles away from your store. This would be considered as a __________.

• Strength

• Weakness

• Opportunity

• Threat