Does Your Small Business Need An Organizational Chart?

Many small businesses debate if they need to go through the trouble of created an organizational chart of their business. If you are an investment firm, one of the first document requests you will receive from your regulator is a company org chart that includes titles, affiliates and areas of responsibility or supervision for your employees. Why? An organizational chart is a visual way to define the structure of your team in clear terms showing each person in the organization and who they report to in the chain of command, and how all the roles fit together. Different types of “org charts” apply to varied organizational structures. Here are several different types of charts, from ‘The Balance Small Business’ and why you may want to consider creating one, even if your business or practice is small.