LO 5: Discuss the principal sources of small-business private financing. LO 6: Explain the advantages and disadvantages of franchising. Chapter 7: MANAGEMENT ROLES, FUNCTIONS AND SKILLS LO1: Explain the importance of management, and identify the three vital management roles. LO2: Describe the planning function, and outline the strategic planning process. o SWOT analysis o SMART goals LO 3: Describe the organizing function, and differentiate among top, middle, and first- line management. LO 4: Describe the leading function, leadership style, and organizational culture. LO 5: Describe the controlling function, and explain the four steps in the control cycle. LO 6: Identify and explain four important types of managerial skills. Chapter 8: ORGANIZATION AND TEAMWORK LO 1: Explain the major decisions needed to design an organization structure. LO 2: Define four major types of organization structure. LO 3: Explain how a team differs from a group, and describe the six most common forms of teams. LO 4: Highlight the advantages and disadvantages of working in teams, and list the characteristics of effective teams.
4 LO 5: Review the five stages of team development, and explain why conflict can arise in team settings. LO 6: Explain the concept of an unstructured organization, and identify the major benefits and challenges of taking this approach.