Posts Tagged ‘business establishment’
Group Dynamics
Group dynamics portrays how a group should be structured and conducted. It encompasses the dynamics of interaction patterns within the group, the subtle and not-s-subtle pressures exerted by group members, the manners in which decisions are made in the group, how work gets done and member’s needs are met. Understanding these group dynamics will enable managers to completely harness the synergy of the group members.
Individuals join groups for security social relationships, affiliation, leadership etc. These are numerous types of groups. The important among them are primary groups, secondary groups, formal groups and informal groups. Primary groups are small groups enough for face-to-face interaction, having a feeling of commandership, loyalty and a common sense of values among its members. Coalitions are very relevant to organizations. Coalition is group of groups.
Organization
Organization implies not only a purpose or a set of purposes but a form appropriate to carry on the activities to achieve the objectives. The greater the range of activities of an organization, the more complicated, and specialized does its structure become. It is the organization which carries on the activities of life by means of parts or organs more or less separate in function but mutually dependent. As the business enterprise grows, the separation and definition of functions increase but the oneness of the whole is nonetheless important.
Organization forms the backbone of the management because without its proper care at higher, middle and lower levels of administration, it may be practically difficult and or impossible for any management to run smoothly. Organization is not an end in itself, but a means to the end of business performance and business results. A sound organization contributes greatly to the continuity and success of the enterprise.
Importance of Co-ordination
Combination of Labor: With work divided and assigned to the members of an organization, their activities are grouped together, forming operations; and operations are arranged to establish systems and procedures. From a structural point of view, this grouping of activities results in units, departments and divisions of an organization. The basis for this grouping of activities may be the skills of the workers, the tools and machinery used the nature of the product, the materials employed, or some other elements. Whether it is logical or not, there is always some reason for the arrangement of tasks in a work place.
Co-ordination: This all-inclusive principle emerges because of the need in every organization for the integration of activities and the coordination of individuals and group of individuals performing their tasks. Co-ordination is achieved through leadership; in the structural sense, it involves the fixing of responsibility and the delegation of authority. It establishes controls which provide for an efficient scheduling and performance of activities.
Functions of an Organization
An organization tries to establish an effective behavioral relationship among selected employees and in selected work places in order that a group may work together effectively. There are three kinds of work which must be performed whenever an organization comes into being, division of labor, combination of labor and co-ordination, the people and the relationship between them. These are known as fundamentals in every successful organization.
Division of labor
Since an organization of human associations for the achievement of common goals, it involves individuals and groups of individuals. When two or more individuals join together to perform certain tasks, it follows that some division of work is done. Properly or improperly, fairly or unfairly, work is divided among those who participate in a productive organization. With effective planning and organization in an enterprise, the division of labor leads to a fixing of responsibility, the delegation of authority, specialization, and other conceptual schemes which are frequently called the principles of an organization.
Features of Business Policy
Policies are common proclamation of ideologies for the accomplishment of objectives which provide as a guide to action for the administrators at different levels. In other words, they are a wide path along which the subsidiaries move towards their goals. Policies have a chain of command, i.e., for each group of goals at every level of administration, there is an equivalent set of policies. For instance, fundamental overall business policies strong-minded by the vital management the corporate administrative polices single-minded by the top management, departmental and divisional polices strong-minded by their executives and sectional policies determined by the middle executives, etc. right up to the first line managers.
The policies delimit the area within which a decision is to be made and ensure that the decision will be consistent with and contribute to the objectives. However, they do allow some discretion on the part of the man on the firing line, otherwise, they would be mere rules. Too much discretion in matters on policy may prove harmful to the accomplishment of organizational objectives. Hence it is generally within limits. The amount of discretion allowed depends upon then policy, which in turn reflects the position and authority in the organization. In most policies, the discretion area is very broad, but in others, it is extremely narrow.
Business Policy
Policy making is one of the essential things of business planning. They provide perfect guidelines to take important decisions in business. It also business people to achieve business objectives. While objectives are a goal or an end to be sought, policies are a general rule of action or guideline which helps in attaining the goal. The objectives set a long-range target; a policy provides guides which assists the company in achieving this target.
Policy does not tell a person exactly what to do but it does point out the direction in which to go. Familiar policies are summed up in these statements. “We sell only for cash and allow liberal discount there on. “Our motto is to serve the customers in all possible ways in matters of quality, price, weight and contents”. In each instance, some important aspect of a recurring problem has been singled out, and a guide established for dealing with it.
From Custom Signs to Directory Listings, How to Open an Office
Going into business for yourself? Great! There’s never been a better time. Thanks to advances in technology, it’s easier to go into business for yourself than ever before. Google and Facebook literally began in garages and dorm rooms, so you can start right where you’re at. Whether your office is home or in the city, you’ll need to one to begin. Here are a few tips, from choosing an Internet provider to planning effective office and directory signs , that will make opening day a little easier.
Budget
First figure out how much you have to work with, and allocate the dollars to your needs. Unless you’re already Facebook, financing may be your biggest limitation, so it’s the perfect place to begin. How much are you willing to spend on custom signs? Will you skip the land line in favor of VoIP phone systems? What do you have to spend on furniture? What can you spend on directory signs?
Do you even need an office?
It’s a legitimate question these days. Many businesses are run right out of someone’s home. Are you going to feel comfortable with employees entering your home? Are you willing to have office signs displayed on the exterior of your home, or directory signs leading in your front window? Are you willing to have the boundaries between home and office blur? Many businesses, once they add up the costs, decide to in fact open a traditional office complete with custom signs and save themselves the trouble.
What about signage?
Your signage is your calling card. Custom signs are what advertise your office. Make sure your office is easy to find with directory signs that are easy to read. office signs should be appealing but clear and visually persuasive.
Shelf Corporations with Credit
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Evaluating the Alternative Plans and Selection a course of action
The management has to evaluate the available courses of action through SWOT analysis (Strengths, Weaknesses, Opportunities and Threats) and rank the alternatives. After ranking the alternatives, the management has to select the best business plans.
Developing Derivative Plans: The management after selecting the best business plan, it should formulate the other policies and plans which are the sub plans to the main plan. Management should involve and consult the lower level managers while formulating the derivative plans.
Implementation of the Business Plans: After the development and selection of the plans and derivative plans, management has to take initiative to implement the business plan.
Measuring and controlling: After the business plan is put into action, the management has to measure the progress of the plan and compare it with the standards, observe the deviations, if any and correct the deviations.
Aged Corporations
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