Lesson 2 - Owning vs. Managing

Open Ended

If you own a business but never show up, what problems might happen?

List at least 3

Categorize

Options (8)

Create the daily work schedule

Deciding how much money to invest

Choosing to expand the business

Communicate deadlines to the team

Deciding what products to sell

Responding to negative customer feedback

Blaming others when things go wrong

Showing up late repeatedly

Look at each of the scenarios and decide if the responsibility falls on the owner, the manager, both or neither.

Manager

Owner

Both

Neither

Multiple Choice

Q1 - Small Business Management is BEST defined as:

• Owning a business

• Making money

• Planning, organizing, leading and controlling work

• Hiring employees

Multiple Choice

Q2 - Which is a MANAGEMENT responsibility?

• Paying personal taxes

• Investing money

• Owning stock

• Handling daily problems

Multiple Choice

Q3 - True or False - Owners are always managers

• True

• False

Multiple Choice

Q4 - Which of these tasks would MOST likely belong to a manager?

• Buying stock shares

• Scheduling employees

• Filing personal taxes

• Choosing a business name

Multiple Choice

Q5 - Why is management important in a small business?

• It looks professional

• It keeps the business running smoothly

• It avoids work

• It replaces employees

Open Ended

EXIT TICKET - What is ONE management responsibility you think would be the hardest for you? Why?