Extra Credit Assignment - News or Community Event

Dear Students,

Extra credit assignments are available.  You can submit a current news event from the Indian Gaming Magazine or attend a Native American event such as a powwow and write a summary using the summary below.

Review the Indian Gaming Magazine: https://www.indiangaming.com/  (Links to an external site.)

Select a article that interest you and provide the following:

1. Current Event Title

2. Textbook Concept

3. What's it all about?

4. What' it all mean?

5. Why do I care?

6. What to do/fix?

7. References:

8. Link to article:

9. Plan to give a 2-3 minute overview of the article to include the information listed above before the class.

Current Event – Example Only

Current Event Title: ​​ “3 Brothers Work Together to Create and Sell Super Coffee”

Textbook Concept /Focus: ​​ Chapters 9-10 deal with Organizing.  How can you organize and manage a family business?  What do you do when you work with family members?  

What’s it all about? ​​ The advantages and disadvantages of working with family can make an organization stronger or break it.  The number one advantage is knowing and trusting your business partners.  It is important to be share the same values and common goal so that the business is successful.  One of the advantages for these three brothers is that live together and are constantly bouncing things off each other.  One of the disadvantages about working with family is knowing when to separate business from personal.  Knowing when to flip the switch so that relationships are not affected. During a family vacation, the three brothers found themselves always talking about coffee and they had to force themselves to stop.  

What’s it all mean? ​​ There should always be that balance of work and family; especially when working with family.  You need to unplug from work just as you would at another job.  You need time to destress from the daily operations of running a successful business.  There will be disagreements among family business partners but that should be left at the door.   

Why do I care? ​​ Some of us might have a plan to own our own company someday.  Or you may work for a family-own business.  The stress that comes from this type of work environment may seem even greater when you have to deal with it out of the office.  This can take a toll on your health both physically and mentally.

What to do / fix? ​​ If you find yourself working with family, maintain your independence (Lenio, 2012).  Make time for yourself by taking your breaks and lunches away from the desk or office.  Hobbies and vacations are time to recoup as they distract you from urgent tasks and deadlines.  They will still be there on Monday.  If you are thinking about going into business with family make sure it is a good fit, everyone understands the rules and set some guidelines (Strauss, 2014)  

References:

Lenio, L. W. (2012, July 10). All in the Family: 4 Keys for Working with Relatives. Retrieved from ​https://www.themuse.com/advice/all-in-the-family-4-keys-for-working-with-relatives 

The Self Employed. (2014, October 06). The Pros and Cons of Working with Family Members. Retrieved from https://www.theselfemployed.com/find_work/the-pros-and-cons-of-working-with-family

Williams, C. (2019). ​MGMT11: Principles of Management, Boston, MA: Cengage.

Link to Article:  https://www.businessnewsdaily.com/11095-pros-cons-family-business.html