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2. Informal Group
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Term
2. Task Group
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IBC FIN
Term | Definition |
---|---|
1. Formal Group 2. Informal Group | Different groups that can be broadly classified in two types |
1. Command Group 2. Task Group | Types of Formal Group |
1. Interest Group 2. Friendship Group | Types of Informal Group |
1. Work Specialization 2. Departmentalization 3. Pattern of Authority 4. Span of Control 5. Coordination of Activities 6. | Basic Elements of Organizational Structure |
1. Functional Design 2. Divisional Design 3. Hybrid Design | Basic Organizational Design |
1. Classical Strategy 2. Adaptive Strategy 3. Visionary Strategy 4. Shaping Strategy 5. Renewal Srategy | Distinct Strategic Approach |
1. Technology 2. Outsourcing 3. Changing worker attitudes and values 4. Demographics and diversity 5. Globalization | Global trends affecting the changing nature of work |
PLANNING | It involves defining strategies, allocating resources, and outlining the actions required to succeed in the market or industry. |
- PRIMARY FUNCTION - GOAL-ORIENTED - CONTINUOUS PROCESS - FLEXIBLE | NATURE OF PLANNING |
PRIMARY FUNCTION | Functions of management largely depends upon planning. This means that planning is like the foundation of a building. |
GOAL-ORIENTED | Planning is focused on establishing specific objectives and goals to guide actions and decision-making. it helps everyone know what needs to be achieved. |
CONTINUOUS PROCESS | Planning is an ongoing and dynamic process that involves regular assessment, adjustment, and refinement of goals and strategies. |
FLEXIBLE | Plans need to be adaptable to changing circumstances and allow for adjustments when unexpected challenges or opportunities arise. |
TOP LEVEL MANAGEMENT | Lay down policies and objectives of the organization and accountable to the owners and responsible for overall management of the organization |
MIDDLE LEVEL MANAGEMENT | Includes departmental heads, divisional managers and branch heads. They are responsible to the top management for the functioning of their departments. They execute the plans and policies made by the top level. |
LOWER LEVEL MANAGEMENT | Referred to as the supervisory or the operative level of managers. The lower level managers are the first line of managers. They spend most of their time addressing the functions of the business organization, as instructed by the managers above them |
(1) Setting Objectives (2) Developing Planning Premises (3) Identifying Alternative Courses of Action (4) Evaluating Alternative Courses of Action (5) Selecting One Best Alternative (6) Implementing the Plan (7) Follow Up Action | STEPS IN THE PLANNING PROCESS |
- OBJECTIVES - POLICIES - PROCEDURE - METHODS - BUDGET - PROGRAMME - STRATEGIES | PARTS OF PLANNING PROCESS |
FUNCTIONAL AREA PLANS | Are detailed strategies outlining how specific departments or functional areas within an organization will contribute to the overall goals and objectives. |
STRATEGY | This plan sets the overarching direction for the entire organization. It defines long-term goals, the approach to achieving them, and the methods for evaluating success. |
MARKETING | This strategic document delineates the methods and channels through which the organization intends to promote and position its products or services in the market. |
FINANCE | A comprehensive financial strategy detailing budgeting, forecasting, and financial management practices to sustain the fiscal health of the organization. |
HUMAN RESOURCES | A plan addressing the recruitment, training, and management of personnel, ensuring the organization has the right workforce to meet its objectives. |
OPERATIONS | This plan focuses on the operational aspects of the business, including supply chain management, production processes, and day-to-day operational logistics. |
TECHNOLOGY AND EQUIPMENT | It outlines how the organization will utilize technology, encompassing software, hardware, and cybersecurity measures. Simultaneously, it addresses the acquisition, maintenance, and strategic use of physical equipment necessary for smooth operations. |
ORGANIZING | Involves assigning tasks, grouping tasks into departments, delegating authority, and allocating resources across the organization. During the organizing process, managers coordinate, employees, resources, and policies |
- TO ACHIEVE ORGANIZATIONAL GOALS - TO IMPROVE EFFICIENCY AND EFFECTIVENESS - TO PROMOTE COORDINATION AND COMMUNICATION - TO IMPROVE DECISION MAKING - TO FACILITATE CHANGE | REASONS FOR ORGANIZING |
TO ACHIEVE ORGANIZATIONAL GOALS | Organizing business activities allows the organization or institution to define its goals and objectives and build a structure to help it achieve its goals |
TO IMPROVE EFFICIENCY AND EFFECTIVENESS | By sorting similar tasks and resources, the organization will find it easier to navigate and complete the tasks more smoothly. This will lead the business or organization to its goal efficiently and effectively. |
TO PROMOTE COORDINATION AND COMMUNICATION | Organizing helps ensure that different departments and individuals within a business work together towards common goals. This kind of practice promotes collaboration, communication, and coordination among the |
TO IMPROVE DECISION MAKING | Organizing helps the business see their projects and activities as a whole, it’s like having a summary of the whole processes and procedures. It also helps clarify the roles and responsibilities of everyone, which will ultimately lead to better. |
TO FACILITATE CHANGE | Helps businesses adapt to change by providing a flexible structure that can be easily adjusted according to demands, events. This structure is very important as the business environment in our current time is rapidly and constantly changing. |
ORGANIZATIONAL STRUCTURE | An organizational structure is a system that outlines how certain activities are directed in order to achieve the goals of an organization. These activities can include rules, roles, and responsibilities |
FUNCTIONAL STRUCTURE | A team structure that groups employees into different departments based on areas of expertise |
FUNCTIONAL STRUCTURE | Suitable for smaller organizations |
FUNCTIONAL STRUCTURE | Effective when the organization has a narrow product or service focus. |
FUNCTIONAL STRUCTURE | Organized by functions |
DIVITIONAL STRUCTURE | People are grouped together based on the product or service they provide, not the work they do. |
DIVITIONAL STRUCTURE | Organized into divisions based on products, regions, or customer segments |
DIVITIONAL STRUCTURE | Common in larger organizations with diverse product lines. |
DIVITIONAL STRUCTURE | Used when managing different product lines or regions independently. |
MATRIX STRUCTURE | A company structure where teams report to multiple leader |
MATRIX STRUCTURE | Combines functional and divisional aspects; employees report to both functional and project managers. |
MATRIX STRUCTURE | Suitable for organizations dealing with complex projects. |
MATRIX STRUCTURE | Used when there's a need to balance functional expertise with project or product-based demands. |
NETWORK STRUCTURE | one in which organizations group certain types of employees together based around a common specialization. |
NETWORK STRUCTURE | Relying on a network of independent entities to accomplish organizational goals |
NETWORK STRUCTURE | Used when an organization needs to collaborate with external |
GROUP | is a collection of two or more individuals who work together to accomplish a specific goal. It can be formed for a variety of reasons. |
FORMAL GROUP | Are those that managers establish to achieve organizational goals. |
COMMAND GROUP | A formal group composed of subordinates who report directly to a given manager or supervisor. |
COMMAND GROUP | Also called Department or Unit |
TASK GROUP | A group of individuals from various departments or divisions working together to accomplish a common goal within a specified time period. |
TASK GROUP | Commonly referred to as "task force". |
TASK GROUP | Often temporary or disband |
COMMITTEES | In order to solve recurring problems, committees are usually formed outside the typical command group structure. |
COMMITTEES | These committees may be relatively short-lived or quite longlived. |
INFORMAL GROUP | A group that nonmanagerial employees form to help achieve their own goals or meet their own needs. |
INTEREST GROUP | An informal group composed of employees seeking to achieve a common goal related to their membership in an organization. |
INTEREST GROUP | can give managers valuable insights into the issues and concerns that are foremost in employees’ minds. They also can signal the need for change. |
FRIENDSHIP GROUP | Friendship groups are informal groups composed of employees who enjoy one another’s company and socialize with one another. |
FRIENDSHIP GROUP | Members of ____________ may have lunch together, take breaks together, or meet after work for meals, sports, or other activities. |
- WORK SPECIALIZATION - DEPARTAMENTALIZATION - CHAIN OF COMMAND - SPAN OF CONTROL - CENTRALIZATION - FORMALIZATION | THE BASIC ELEMENTS OF ORGANIZATIONAL STRUCTURE |
WORK SPECIALIZATION | Work specialization describes how different jobs are assigned to various operations. It boosts productivity and efficiency but also boredom, exhaustion, and stress. Low output, subpar quality, elevated absenteeism, and high turnover can result from this. |
DEPARTAMENTALIZATION | Jobs are grouped together through a process known as _____. By function, product, area, process, or client. Tasks are divided into groups according to their functions, such as engineering, accounting, or human resources, through functional _____. |
CHAIN OF COMMAND | The chain of command is the line of authority that runs from the top to the bottom, defining who reports to whom. Authority is the power a boss has to give commands and demand that they be carried out. |
SPAN OF CONTROL | It is the maximum number of workers that a manager can supervise because a manager only has direct influence over a limited group of employees, a restricted ___ encourages a more personal and hands-on work atmosphere. |
CENTRALIZATION | Centralization refers to decision-making concentrated in a single place in the organization. |
FORMALIZATION | The development of processes, connections, and operational procedures that specify the policies, guidelines, and responsibilities for certain individuals, units, groups, teams, and the firm as a whole is aided by formalization. |
- FLAT STRUCTURE - HIERARCHICAL STRUCTURE - TEAM BASED STRUCTURE | THE BASIC ORGANIZATIONAL DESIGN |
FLAT STRUCTURE | A _____ is characterized by few or no levels of middle management between the staff and the executives. This promotes open communication and quick decision-making. |
HIERARCHICAL STRUCTURE | A ____ consists of multiple levels of authority, with each level managing the one below. This traditional model helps establish clear lines of authority and responsibility within an organization. |
TEAM BASED STRUCTURE | A _______ organizes employees into groups focused on specific projects or tasks. This fosters collaboration, flexibility, and allows for efficient utilization of specialized skills within the team. |
GETTING THE RIGHT PEOPLE | It’s easy to hire someone. It’s another thing to hire the right person for the job. The entire hiring process can be a frustrating, time consuming. An urgent need to fill a position could lead an employer to rush into getting someone in. |
GETTING THE RIGHT PEOPLE | needs a process in order for you to successfully find someone who is willing and passionate about the tasks that may offer to him/her. Someone who can help you grow and can bring you to success. |
THE STRATEGIC HUMAN RESOURCES | ______ is the connection between a company’s human resource and its objectives, strategies and goals. |
THE STRATEGIC HUMAN RESOURCES | The main aim of ______ management is to boost a fit for the purpose-planned culture and increase flexibility, modernization and competitive advantage. |
- HR strategic partnership - HR compliance - HR services - HR development | SET OF STRATEGIC HUMAN RESOURCE MANAGEMENT CAPABILITIES |
HR strategic partnership | An organization must have a cooperative collaboration among the workers and the company’s upper management staff. |
HR compliance | The success of any company entirely depends on the freedom of its staff. You cannot achieve success if you cannot manage your employment staff on a daily basis. The human resource department must enable communication between employees daily. |
HR services | ____ have been improved to find an easy way of achieving new objectives of the company. |
HR development | The key to a company’s success is the long term development of the employees in the organization. To achieve your objectives and goals, you must |