Running, Managing, And Operating A Corporation

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A presentation about setting up and operating a corporation

A presentation about setting up and operating a corporation

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  • This presentation is not as detailed as the owner of a corporation will need it to be but briefly describes the departments and the responsibilities of each department.
  • Although the production company will more than likely be a corporation rather than any other types of businesses I suggest investing in a franchise on the side (purchase a McDonald’s or Sonic or something like that)
  • The hugest advantage in my opinion would be if the franchise is incorporated.
  • I suggest either non stock or privately held stock (issue it to the owners)
  • I strongly suggest either a non stock or private stock corporationand more research on the topic. I will be researching the topic myself.
  • Shareholders and Stockholders are the same thing– when I say shareholder I mean stockholder or shareholder.
  • Registering in Delaware is wise according to research I have conducted then you must also register in the state your doing business as a foreign corporation. I suggest more research on this topic.
  • Articles of Incorporation (when determining the number of shares you must also include if it will be public or private – stock or non stock.
  • Company handbooks should be carefully constructed to detail the ethical guidelines, the mission statement, the policies and procedures to be followed- (ex: days missed- holidays- acceptable and unacceptable behavior- any laws which would apply to the organization and employees- insurance plans- etc…)
  • Groups and Teams in an organization should be mentioned in this power point as they are important in the success of an organization.
  • This is a secretary that does not answer to the board and his or her duties will be specified in the job description and upon being hired.
  • It is possible for more employees in the department or maybe not all that are listed above. The CFO and CEO will ultimately decide on which employee will be in that department.
  • Inputs- Processing- Outputs
  • Might I suggest that the transactions be electronic and written. Although a bit more work is involved – it will be a wise move. Risk assessment and risk management include deterring risk but also having backup plans.
  • Although this presentation discusses the accounting software – the recommendations of myself would be the ERP which is discussed later in this presentation. ERP (enterprise resources planning is a company wide computer software system used to manage and coordinate all the resources, information, and functions of a business from shared data stores.
  • These are not what balance and income sheets look like but they have the items which will need to be on them. Attached to the paper and power point are copies of a balance sheet and income statement
  • More or less employees might be necessary in the Human Resources Department. The CHRO will know who is needed and who is not.
  • The owner needs to be aware of each necessary employees for a couple of reasons: 1. know how to make the organization successful 2. the owner will know if some employees are a waste of time and money and which are not.
  • Continued from previous slide
  • Riordan Manufacturing Sample photo
  • Sample photo from Riordan Manufacturing
  • As with everything else– I did not completely cover the topic and more research should be conducted on ERP but it seems like the way to go.
  • Operations Management and Logistics is much more complex than described in the power point but it gives an overview of the operations management and logistics department. Operations and logistics is crucial in any organization.
  • Word production changing to operations
  • Often times the producing of goods such as DVD’s and clothing is outsourced but operations management is responsible for the creating of the ideas and researching and deciding if the product should be outsourced or done through the corporation itself (creating factories to do it).
  • Chapter 9 Business Management Producing World Class Goods and Services in Understanding Business Seventh Edition goes into more detail
  • The marketing and sales department is responsible for creating- redefining- marketing- and selling the product or service. A lot goes into marketing and sales and this power point does not begin to describe the duties of the department.