Republic of the Philippines

CEBU TECHNOLOGICAL UNIVERSITY

MAIN CAMPUS
M. J. Cuenco Avenue Cor. R. Palma Street, Cebu City, Philippines

Graduate School

BDA 604
BUSINESS MANAGEMENT
Business Organization:
Responsibilities of Business Ownership

IVY C. TALISIC,
LPT
MAVED 2
 Business Organization: Responsibility of Business Ownership
Topic Discussed

Leading Questions: What are the responsibilities of a business owner?

How would you describe a business owner?

Unlocking Terminologies:
 Business -is the production, distribution, and sale of goods and services for a
profit. (restaurant, fresh egg supplier, sell fresh meat, sell ready to lay chicken)

 Business Owner -own the assets of the firm (my father owns the above-
mentioned businesses)

 Responsibility -ability to act independently and make decisions without

authorization (as a sole proprietor he cook the food, raise the chickens, weigh
eggs, deliver to stores, assigns individual to sell the food and the fresh meat)

BUSINESS OWNERSHIP
It refers to the legal control over a business. It gives the owner the legal capacity to
dictate the business operations and dealings.
(These individuals define the vision and roadmap of their chosen kind of business.)

BUSINESS OWNER
Refers to individuals who establish and operate an entity that is engaged in commercial,
industrial or professional activities with the purpose of deriving profits from its successful
operations.
 own the assets of the firm or entity they formed which they earn passive or active
income from.
 in charge of making decisions significant to the existence of the business
 the legal proprietors of a business.
(It is often said that owning your own business will give you the freedom and earnings
you would not be able to achieve by being an employee. More than that, they are risk
takers and it does come with its own perks while running the business and requires
many responsibilities.)
 BUSINESS OWNER TITLES
Business owners also taken on many other titles including:
Chief Executive Officer (CEO) Founder
Proprietor President
Managing Director Principal

Many business owners have a well-defined job description, but this can vary widely
depending on the industry and size of the organization.

BUSINESS ORGANIZATION
The different types of businesses give an outline of a structure to the ownership world.
 Sole proprietorship  Corporation
 Partnership  Cooperative

(This legal ownership structure of a business determines various factors from the taxes
that the business needs to pay to the profit distribution and responsibilities that the
owner or multiple owners have, also determining the paperwork that the business have
to go through to finally set up.)

RESPONSIBILITIES OF BUSINESS OWNERSHIP

Now let’s dig deeper into their responsibilities and let’s go through on each
responsibility.
Planning & Strategy
 in charge of creating and managing their business plan, developing their
marketing campaigns
 coming up with ways to keep the company competitive and profitable
 Research and planning are essential skills for a business owner.
Sales & Marketing
 responsible for joining sales calls and closing deals in the early stages.
 be the go-to person for creating campaigns, approving ads, running social media
marketing and email marketing.
 conducting other marketing activities for the business.
(No matter how unique or amazing your products are, you need marketing and sales to
make money as a business.)

Daily Operations
 work on the efficiency and effectiveness of daily operations
 identify problems on where that occurs and find solutions
 outsourcing non-core functions.

Staffing & Management

 in charge of building a great team to operate the business.
 create the job descriptions, do performance reviews
 control employees’ pay, benefits, and advancements in your company.
 reward employees with pay, benefits and recognition.
(An employer must be very careful in closing a person to the right position.)

Finance & Accounting

 responsible for getting start-up capital to establish the business
 are responsible for the fiscal health of their companies
 responsible for establishing budgets and sales forecasts
(Business owners need to manage finances properly to give the business a fighting
chance)
Customer Service
 build a positive reputation for your business
 delight customers so they leave positive reviews and make repeat purchases
 build a positive company reputation as reflected in renewal rate, repeat purchase
and testimonials.
(It’s common in the early stages for business owners to be the main customer support
agent.)

REMEMBER
While Businesses have paved the way to higher Income prosperity, there will be more
things to consider as a Business Owner than as an employee.

REFERENCES

https://dutchuncles.in/discover/what-are-the-different-types-of-business-ownership/

https://www.shopify.com/ph/blog/business-owner#:~:text=A%20business%20owner
%20is%20one,with%20a%20group%20of%20people

https://fundsnetservices.com/business-owner

https://uit.stanford.edu/service-management/toolkit/fundamentals/business-owner

***nothing follows***