© 2012 cengage learning. all rights reserved. principles of business, 8e c h a p t e r 5 slide 1...
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SLIDE 1
© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e
C H A P T E R 5
5-15-1 Business in the U.S. Economy
5-25-2 Forms of Business Ownership
5-35-3 Organizational Structure for Businesses
55C H A P T E R
Economic Decisions Economic Decisions and Systemsand Systems
SLIDE 2© 2012 Cengage Learning. All Rights Reserved.
5-15-1 Business in the Business in the U.S. EconomyU.S. Economy
Goal 1 Describe the changing status of U.S. employment.
Goal 2 Discuss the role of business in the U.S. economy.
Goal 3 Describe three major types of businesses.
SLIDE 3
© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e
C H A P T E R 5
KEY TERMS
● contingent worker
● intermediary
● service business
SLIDE 4
© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e
C H A P T E R 5THE CHANGING U.S. JOB MARKET
● Employment data
● Pressures on employees
SLIDE 5
© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e
C H A P T E R 5
Checkpoint
● List several groups that will increase as a percentage of the total U.S. workforce in the next decade. ● Younger workers (16–24 years of age)● Asian-, Hispanic-, African-American groups● Women
SLIDE 6
© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e
C H A P T E R 5BUSINESS AND THE ECONOMY
● Size of U.S. businesses
● Roles of business
● Impact on a community
SLIDE 7
© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e
C H A P T E R 5PERCENT OF BUSINESSES BY EMPLOYEE SIZE
SLIDE 8
© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e
C H A P T E R 5
BUSINESS ACTIVITIES
● Generating ideas
● Raising capital
● Employing and training personnel
● Buying goods and services
● Marketing goods and services
● Maintaining business records
SLIDE 9
© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e
C H A P T E R 5
Checkpoint
● What are the basic activities completed by all businesses?● Generating ideas● Raising capital● Employing and training personnel● Buying goods and services● Marketing goods and services● Maintaining business records
SLIDE 10
© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e
C H A P T E R 5
TYPES OF BUSINESSES
● Producers
● Intermediaries
● Service businesses
SLIDE 11
© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e
C H A P T E R 5
Checkpoint
● How does a manufacturer differ from an extractor? ● An extractor takes natural resources, such
as oil or timber, for direct consumption or for use in developing other products.
● A manufacturer takes resources supplied by others and converts them into useable products.
SLIDE 12© 2012 Cengage Learning. All Rights Reserved.
5-25-2 Forms of Business Forms of Business OwnershipOwnership
Goal 1 Understand the three major forms of business ownership.
Goal 2 Determine when each form of business ownership is most appropriate.
Goal 3 Recognize other specialized business ownership forms.
SLIDE 13
© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e
C H A P T E R 5
KEY TERMS
● proprietorship
● partnership
● corporation
● partnership agreement
● articles of incorporation
● franchise
SLIDE 14
© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e
C H A P T E R 5
BUSINESS OWNERSHIP
● Proprietorship
● Partnership
● Corporation
SLIDE 15
© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e
C H A P T E R 5
Forms of Ownership
U.S. Business Comparison by Form of Ownership
Form of Ownership
Number of Businesses
(2006)
Total Revenue (Thousands)
Percent of All Businesses
Percent of Total Revenue
Proprietorship 22,075,000 1,278,000,000 71.53% 4.06%
Corporation 5,841,000 26,070,000,000 18.93% 82.82%
Partnership 2,947,000 4,131,000,000 9.55% 13.12%
Total 30,863,000 31,479,000,000 100.00% 100.00%
SLIDE 16
© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e
C H A P T E R 5
Checkpoint
● What are the differences between the three main forms of business ownership?● Business forms differ in the ways in which
decision-making and investments are made and to whom liabilities are distributed.
SLIDE 17
© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e
C H A P T E R 5CHOOSING A FORM OF BUSINESS OWNERSHIP
● Choosing a proprietorship
● Choosing a partnership
● Choosing a corporation
SLIDE 18
© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e
C H A P T E R 5
Checkpoint
● Which form of business ownership is the most complex and difficult to form?● The corporation is more complex to begin
than other business forms. ● Forming a corporation requires much more
bureaucracy, is more subject to government regulations, requires the organization of a board, and must have clearly defined bylaws.
SLIDE 19
© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e
C H A P T E R 5OTHER FORMS OF OWNERSHIP
● Specialized partnerships and corporations
● Cooperatives and franchises
SLIDE 20
© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e
C H A P T E R 5
Checkpoint
● What are the other specialized forms of business ownership?● Limited liability partnership● Joint venture● S corporation● Limited liability company (LLC)● Nonprofit corporation
SLIDE 21© 2012 Cengage Learning. All Rights Reserved.
5-35-3 Organizational Organizational Structure Structure for Businessesfor Businesses
Goal 1 Understand important principles in designing an effective organization.
Goal 2 Compare alternative organizational structures for businesses.
SLIDE 22
© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e
C H A P T E R 5
KEY TERMS
● mission statement
● goal
● policies
● procedures
● organization chart
SLIDE 23
© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e
C H A P T E R 5DESIGNING AN EFFECTIVE BUSINESS ORGANIZATION
● Setting direction
● Principles of effective organization● Responsibility, authority, and accountability● Unity of command● Span of control
SLIDE 24
© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e
C H A P T E R 5
Checkpoint
● What is the difference between a mission statement and a goal?● A mission statement states the purpose of
existence for a business and what it hopes to achieve.
● A goal is a more specific statement of what a business expects to achieve and may be used to measure a business’ success.
SLIDE 25
© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e
C H A P T E R 5TYPES OF ORGANIZATIONAL STRUCTURES
● Functional organization structure
● Matrix organizational structure
SLIDE 26
© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e
C H A P T E R 5BUSINESS ORGANIZATION CHART
SLIDE 27
© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e
C H A P T E R 5
Checkpoint
● What problems can result from the use of a functional organizational structure?● Employees in a functional organizational structure
may tend to lose sight of overall corporate goals. ● Workers tend to be limited to specific duties and
may not see their relationship to the organization as a whole.
● This can result in lack of interest and motivation over time.
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