BBG 101 Lecture Notes - Lecture 20: Small Business
2 Nov 2020
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5 mistakes business owners make: they"re too afraid to take the leap, hire the wrong people, don"t want to give up control, become complacent, fail to see new opportunities. Small and medium-sized businesses accounted for 99% of recent export growth. Small companies can usually begin shipping much faster. Can give more personal service and attention. Management the process used to accomplish organization goals through planning, leading, controlling, and organizing. Emphasis is on teams and team building. Managers need to be skilled communicators and team players. Guiding and motivation employees to work effectively to accomplish organizational goals and objectives. Allocating resources, assigning tasks, and establishing procedures for accomplishing goals. Preparing a structure (organization chart) showing lines of authority and responsibility. Placing employees where they"ll be most effective. Vision more than a goal, it"s a broad explanation of why the organization exists and where it"s trying to go. Goals the broad, long-term accomplishments an organization wishes to attain.
