A. FIRM AND ITS OBJECTIVE: Conventional theory of firm assumes profit maximization is the sole objective of business firms. But recent researches on this issue reveal that the objectives the firms pursue are more than one. Some important objectives‚ other than profit maximization are: (a) Maximization of the sales revenue (b) Maximization of firm’s growth rate (c) Maximization of Managers utility function (d) Making satisfactory rate of Profit (e) Long run Survival of the firm (f) Entry-prevention
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Assignment: Organizational Culture - what it is and how is it embedded in the organization Jay Wilkinson in his Tedx talk on Company Culture shared that‚ ‘people more than business plans and assets are what makes a company strong. Leveraging a company culture‚ a company can go far beyond what it can imagine’. In a review of literature on the topic of Organizational Culture Edgar Schien suggested that the concept is not as straightforward but is fraught with a variety of writers who proffered many
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SMART Objectives: This page has been written to provide not only an overview of the SMART objective format‚ but to help you to write your own. Specific | Is the objective clear?Is it precise and well defined?Can everyone understand it? | Measureable | Have you stated how you will assess whether it has been completed or not?What evidence is needed to confirm it?How will the individual learner know when the task has been completed? | Achievable | Are there sufficient resources in place and
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1 Understand organisational structures 1.1 Explain the differences between the private sector‚ public sector and voluntary sector A private sector is usually composed of organisations which are privately owned and not part of a government; whereas a public sector is composed of organisations that are owned by the government and voluntary sectors are composed of individuals of who seek help in charitable activities. Private sectors include corporations such as partnerships and charities‚ like the
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Objective statement. Preface: Afghanistan is a country which surrounded by mountains it has proper climate for agricultural activities. By the three decades war destroyed majority of industries and crafts that our country has enough sources to provides raw material but up to now the situation of country is not prepare for these activities so therefore nowadays agriculture can complete the most needs of our country. By this importance of agriculture first time in entry test I took decision to complete
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Chapter 10 Organisational Structure and Design Robbins‚ Bergman‚ Stagg‚ Coulter: Management 4e © 2006 Pearson Education Australia LO6 Students will evaluate two types of organisational structures and recommend a structure for a given situation Key elements a) Hierarchy and departmentalisation economic growth b) Centralisation versus decentralisation c) Mechanistic versus organic d) Span of control Robbins‚ Bergman‚ Stagg‚ Coulter: Management 4e © 2006 Pearson Education Australia 2 LEARNING
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Organisational Change Management * The Courthouse Hotel Case Study – Content 1. Introduction p.3 2. Background Information on the Courthouse Hotel p.4 3. Internal and external drivers for change p.5-6 –PEST and SWOT 4. The Courthouse Hotel: nature of change p.7 5. Reactions to change p.8-9 6. One approach to change management: p. 10- 12 The Courthouse Hotel 7. Conclusion
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direction needed and to have success‚ aims are necessary for the organisation. These aims can include profit‚ market share and development and return on capital employed. So‚ in order to be able to meet the desired aims‚ objectives have to be set (Adapted from Dransfield et al). Management by Objectives was a system introduced by Peter Drucker (1954)‚ where employees’ objectives are aligned with the organisation’s goals. Having people know how their contribution towards the organisation reflects the
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President of the American Psychological Association (APA) in 1919‚ was arguably the most prominent I–O psychologist of his time‚ although James McKeen Cattell (elected APA President in 1895) and Hugo Münsterberg (1898) were influential in the early development of the field.[2] Organizational psychology gained prominence after World War II‚ influenced by the Hawthorne studies and the work of researchers such as Kurt Lewin and Muzafer Sherif. Research methods See also: psychometrics and statistics
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Advantages 1. Specialisation Functional organization helps in achieving the benefits of specialization of work. Every functional incharge in an expert in his area and can thus help the subordinates in better performance in his area. 2. Executive development A functional manager is required to have expertise in one function only. This makes it easy to develop the executives. 3. Reduction of workload http://smallbusiness.chron.com/functional-structure-organization-strength-weakness-60111.html Definition
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