Management Functions
What is a manager?
a person who is an expert in their field of work and is responsible for administering all or parts of a business
This is a statement that describes the company's reason for existing now
One of the more difficult franchises to open
Chick-fil-A
This soda brand's logo is recognized by 94% of the world's population
Coca-Cola
This fast-food's first menu item was hot dogs, not hamburgers
McDonald's
___________ is creating a detailed plan to meet goals by analyzing information, setting timelines, and making decisions. It is the first management function.
Planning
This is an inspirational statement that describes what a company wants to become
Vision Statement
Business owned by one person. In this type of business the owner is in charge of all day to day aspects of the business.
Sole Proprietorship
__________ is the most productive day of the workweek
Tuesday
This tech CEO suffers from red-green color blindness, so that is why is app is primarily blue
Mark Zuckerberg (Facebook)
The _________ __________ __________ is a series of steps to help an individual make the best possible choice to meet their needs.
Decision making process
Something the business wants to accomplish in the near future (less than 12 months)
Short-term goals
You'll want to have one of these if you go into a partnership with someone.
Legal Document or Contract
Marvel Comics
This is the percentage of small businesses that are owned by a single person
70%
The process of establishing orderly uses of all resources and activities to work toward the set goals
Organizing
Something that one’s effort can accomplish to help reach a goal.
Objectives
___________ is a type of business ownership where there can be a single or multiple owners, like a partnership, but you have an option to be taxed like a corporation
Limited Liability Company or LLC
_________ averages a profit of $1.8 million every hour
Walmart
The amount of Mickey Mouse ears that have been sold at Walt Disney World to date
__________ involves projecting a strong sense of motivation and direction for employees, to help encourage high performance
Leading
Something the business wants to accomplish in the future (1-10 years)
Long-term goals
A type of business organization that expands a business without the original owner having to open each businesses in different locations
Franchise
This music company owns the rights to "Happy Birthday", so technically is owed royalties every time it is sung.
Warner Music
This coffee company specifically uses round tables in its stores so that customers feel less alone
Starbucks