For an entrepreneur is very important organize his key operational activities to make fundamental business decisions with respect to ‘focus’ — the strategic relevance and prioritization of these activities to achieve a developmental milestone; ‘locus’ — where you should geographically conduct these activities; and ‘modus’ — the way in which these different activities are executed. At the business model level, the focus, locus, and modus of the entrepreneur’s activities represent the company’s output, so represents the unique way in which a business executes its strategy to the market. Focus: Focus decisions are related to the strategic importance and allocation of a company’s resources to business activities, like where to invest additional resources or disinvest resources. The entrepreneur has to focus his attention on what business activities demand priority, resources, and attention. The key decision process here is to prioritize which activities to focus on during a specific stage of growth Continue reading
General Management Articles
Modern Aspects of Organizational Structure Development
The structure of the organisation can be described as the overall pattern of the relationships between the various roles and responsibilities which allocate to serve the work to sustain the competitive advantage in order to achieve the direct activities and the organisational goals. These structure which resembles the members of the organisation to plan, compromise, organise the various activities to control and uses many principles with the derived classic and as well as the scientific management issues and changes. The overall structure of the organisation which is both architectural and structural which is visible and also invisible which mainly competes with the other entities which mainly defines the various functions and the entities which represent and provides the various useful insights into the underlying design principles in the management section within the organisation. This is a formal structure which not only focuses on the various principles involved in the management Continue reading
Changing Nature of Modern Work Organizations
New forms of work organisation have come up in last 25 years which is known as modern work organisation. Many organisations have adopted these new forms and become more successful work organisation. Work has been restructured by new technologies; new looms that attempt to involve staff in improving product quality using less inventories. Employee’s involvement can provide employees with control over their operational lives or it can provide employees with the opportunity to mention on work organisation but leave the real authority relationships untouched. The work organisation was changed a lot over the time from 19th century (traditional work organisation) to 21st century (modern work organisation). Traditional work organisational structure was layered with functional departments while Modern work organisational structure is more flat containing process teams. Traditional work organisations’ employees were controlled and did specified task only while modern work organisations’ employees are empowered and doing multi tasks. Managers and Continue reading
Differences Between Profit and Non Profit Organizations
A profit organization is a social arrangement which pursues collective goals, controls its own performance, and has a boundary separating it from its environment. Profit organization is a business which has a primary goal of making profit and a proposed goal such as helping the environment. An organization is defined by the elements that are part of it its communication, its autonomy, and its rules of action compared to outside events. A non profit organization is a group organized for purposes other than generating profit and in which no part of the organization’s income is distributed to its members, directors, or officers. Non profit corporations are often termed “non-stock corporations.” They can take the form of a corporation, an individual enterprise (for example, individual charitable contributions), unincorporated association, partnership, foundation (distinguished by its endowment by a founder, it takes the form of a trusteeship), or condominium (joint ownership of common Continue reading
The Increasing Importance of Communication in the Corporate World
In the world of business, effective communication has always been important. But it has become even more crucial in today’s fast-paced and digitalised corporate environment. Whether you’re emailing a colleague, presenting an idea to your boss, or delivering a presentation to the company, having strong communication skills is essential for achieving success. This article will explore why communication has become such a global skill. We will also provide some tips and strategies to help you enhance your communication abilities, enabling you to advance your career and contribute on an individual and organisational level. The Evolution of Business Communication The world of business has undergone radical change, even the coursework covered five years ago to current courses like the master of business administration online degree have shifted massively. In the past, face-to-face meetings and phone calls were the means of interaction. Written communications typically involved memos, letters, and faxes. Although the Continue reading
Concept of Decisions and Decision Making Process in Crisis Management
External and Internal business environment have effects on business operations and various strategic decisions taken by organizations. If organizations are not aware about the change in business environment or if they fail to predict the change, it may create crisis for the organization. Decisions and decision-making process has important role in crisis management approach. According to Ducker “A decision is a judgment and choice between alternatives. It is rarely a choice between what is right or wrong, at best it is a choice between “almost right” and “probably wrong”- but more often choice between two courses of actions neither of which is probably more nearly right than the other” Decision-making is a dynamic process, a complex search of information, alternatives and choices. There are two approaches to modeling human decision-making; The Outcome Oriented Approach and the Process Oriented Approach. The Outcome Oriented Approach, based on the view that if one Continue reading