A management team is a vital part of an organization is usually summarized in the business plan.

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A management team is a vital part of an organization is usually summarized in the business plan. "In a business plan, the management team includes the business' owners, board of directors and managers. Depending on the business plan's style, the details for these team members may appear in different sections of the plan". A management team helps to identify key leaders who strive to accomplish strategic objectives and goals for organizational success. Long-term business success often depends on its leadership.

The company structure is outlined by the organizational chart (hierarchy of employees or management structure and their reporting relationship within the organization). Department or division managers as well as non-managerial employees are usually included in this chart to provide a visual representation (professional appearance) of the company structure. Depending on the complexity of your organization, including pictures of employees may also help employees become more familiar with each other.

As you develop a management team and create an organizational chart of your organization, be sure to keep the reading materials in mind. If you are seeking investors, the organizational chart provides a quick visual of the organization's layout. As the company grows, the organizational chart can be easily revised.

Consider how you will begin to create your organizational chart and share your thoughts with the class.