COPYRIGHTED MATERIAL
Chair of the Board of Directors Chief Executive Office
the leader of the corporation, responsible for running the board of directors smoothly and effectively. CEO; responsible for the corporation's entire operations. He or she reports to the board of directors. COO; responsible for the corporation's marketing, sales, production and personnel. He or she reports to the CEO. CFO; responsible for analyzing and reviewing financial data, reporting financial performance, and preparing budgets; He or she reports to the CEO. CIO; responsible for the company’s computer systems and cybersecurity. He or she reports to the CEO. set of rules and procedures for governing the deliberative proceedings of boards, clubs, and organizations; also known as Roberts Rules of Order. ROI; a commonly used profitability ratio for evaluating an investment; calculated by dividing the benefit (return of the investment) by the cost of the investment. a single business where two or more people share ownership and personal liability for the biusiness. LLC; corporate structure that limits the personal liability of its members for the company’s debt and liabilites.
Chief Operating Officer
Chief Financial Officer
Chief Information Officer
parliamentary procedure
return on investment
the financial debts and obligations of a company. PRODUCT PREVIEW a simple business entity owned and run by one individual.
liabilities partnership
limited liability company
sole proprietorship
Lesson Objectives By the end of this lesson the student will be able to: 1. Explain the key advantages of a corporation. 2. Compare the roles and duties of officers and directors of a corporation. 3. Name four common types of business entities. 4. Translate basic parliamentary procedure terms. 5. Explore whether he or she has the leadership traits of a CEO.
SLIDE 12F
Gaining Attention Engage students in a discussion: Hopefully you are making progress on your innovation team project. Your team is about to take your relationship to the next level. No, you’re not getting married. You will go from being just a bunch of people working together on an idea, to a formal business relationship. There are many kinds of business entities which offer different features. Your team will form a corporation . What if you are elected Chairman of the Board of Directors? What are your responsibilities? How do you “chair” a meeting? What if you are appointed CEO? What does that mean, and what kind of skills will you need to do the job?
Lesson 12 | Business Blast 220
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