INTRODUCTION TO BUSINESS, Third Edition 
Gaspar/Bierman/Kolari/Hise/Smith/Arreola-Risa

Video Labs: Chapter #5-Managing and Organizing Business

Introduction to Organizational Structure & Design

 

This video gives a broad overview of organizational structure. Centralized organizations give authority to top executives. Decentralized organizations, on the other hand, disperse authority downward to unit managers. There are different types of organizational structures, such as functional structures, geographic structures, divisional structures, matrix structures, and team structures. Functional structures groups the organization into clusters of functional expertise, such as marketing, finance, and human resources. A matrix structure groups the organization into clusters based on each functional-product unit.. Run Time: 10:22

Overview of the Strategic Planning Process

 

This video gives a broad overview of the strategic planning process. To begin the strategic planning process, it is necessary to gather internal and external data, which will provide insight into the performance of the business. Analysis of data can be done through a SWOT analysis, also known as Strengths, Weaknesses, Opportunities, and Threats. The next step is to create long term strategic goals in the areas of finance, customers, operational excellence, and people. After strategic goals are set, setting specific operational goals is necessary to work towards the long term strategic goals. Run Time: 4:30

Overview of the Strategic Planning Process

 

SWOT analysis (alternatively SWOT matrix) is an acronym for strengths, weaknesses, opportunities, and threats — and is a structured planning method that evaluates those four elements of a project or business venture. A SWOT analysis can be carried out for a product, place, industry, or person. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieve that objective. Run Time: 5:54

Fresh Coffee
How Starbucks Became an $80B Business

This video clip about the growth and business practices of Starbucks highlights some of the planning and ongoing decisions organizations have to make to adapt and grow their business. It also shows how key leaders drive those decisions and formulate different plans of action to meet organizational goals and respond to different events within the business or overall economy. Run Time: 7:39

COVID-19 shutterstock.jpg

Source: Viacheslav Lopatin/Shutterstock.

Sweden’s Approach to COVID-19 Pandemic Involves No Lockdown

As many people are aware, the country of Sweden took a much different approach to the COVID-19 crisis, than virtually all other countries in the world.  Instead of locking the country down for one to two months, Sweden kept almost all its businesses and other activities “open” for the duration of the pandemic.  Sweden’s approach in part involved the concept of “herd immunity”, i.e., by allowing citizens to receive low-level exposure to the COVID virus, a general societal immunity to it would occur. Run Time: 4:47

COVID-19 shutterstock.jpg

Source: Viacheslav Lopatin/Shutterstock.

Why Iconic New York Steakhouse Peter Luger is Offering Delivery for the First Time In 133 Years

Peter Luger is an exclusive steakhouse in New York City, New York.  It was founded in 1887, making it one of the historic eating establishments in the United States.  In terms of maintaining its “exclusivity”, it has never (as noted above) delivered its food to customers---if you want to eat Peter Luger’s top-of-the-line steaks, you have to come to Peter Luger’s. Run Time: 4:47