Site Visit Preparation BU113: Foundations of Business Administration Prof. Bauer-Ramazani Assignment 1. As a group, meet with a business and learn about its form of ownership mission, ethical guidelines organizational structure management basic marketing strategies. 2. Prepare a written, single-spaced memo addressing the above (see guidelines for writing memo assignments). Include an organization chart in the memo or as an attachment to the memo. 3. Present your findings to the class in a PowerPoint presentation (uploaded to eCollege) of approximately 7-9 minutes. Attach a handout of your presentation (format: 6 slides per page) to your memo. Setting up a meeting 1. State your name 2. Purpose 2. “… SMC students; taking beginning business class; our assignment is to …” 3. Request 3. “… would like to meet with …” 4. Time 4. 30-45 minutes (“… take about ½ hour of your time …”) 5. What might they want to know from you? 5. Questions you will ask (form of business ownership, management, organizational structure, marketing); What happens to the information: Memo and presentation for class 6. What information do you need from them? 6. Time, date, location, directions, name of manager 7. Call to confirm the meeting on the morning of the meeting. 8. Dress appropriately for the visit; you represent SMC. Send a Thank You card (shows 8. Other considerations appreciation & professionalism). Topics 1. The Company—type of organization/form of ownership (Chapter 3) 2. Management (Chapter 5) 3. Organizational Structure of the business (Chapter 6) 4. Marketing Strategy (Chapter 11) The Company Type of business organization – owner? sole proprietorship? partnership? corporation? LLC? Number of employees History Competitors Main products Management Mission statement What is the purpose of your business? What business are you in? Code of Ethics/Social Audit Available? Published? Strategic planning Long-term goals? Short-term goals? Types of managers / levels of management / areas Organizational Structure Organizational chart explain how the company is organized Positions and structure; reporting relationships; responsibilities; chain of command Organization/departmentalization: by function, product, process, customer type, or geography Span of control, line vs. staff Centralization vs. decentralization How/where are the decisions made, and who makes them? (top, by corporate headquarters, regional manager, store?) Recent changes in the organizational structure? (reasons) Corporate culture Marketing Target Market Who is the customer? Who are you trying to sell to? Who are your competitors? How do you differentiate yourself from your competitors? Marketing – the 4 P’s Product What are you producing / selling / offering? What makes your product / service unique? At what stage in the product life cycle is your product? Price How did you set your price(s)? How do you go about pricing? (skimming, penetration) How do your prices compare to your competitors’ prices? Promotion What forms of promotion do you use? (telemarketing, personal selling, direct marketing, PR, sales promotions, advertising) Place / distribution Where are you offering your products? What distribution arrangements do you have? What modes of transportation do you use? Other considerations Hand a list of questions to the company representative. Take notes and/or use a recording device. analog tape recorder; digital voice recorder; Sound Recorder on laptop Get permission from the interviewee to use a recording device. Proofread the memo and slide show (quality control).