Organizational goals are strategically set objectives that outline expected results and guide employees’ efforts. 3 types of organizational goals are strategic, tactical, and operational goals. Purposes of organizational goals are to provide direction to employees of the organization.
For choosing the best alternative in decision making; 3 tools are experience, experimentation, and research and analysis. These are used to select the best path for the organization among all decision making options.
Managing is necessary whenever one needs to get things done. It may be called the practice of consciously and continually shaping organizations. Every organization has people who are assigned the responsibility of serving the organization to achieve its goals. Those people are called managers. No organization can carry on its business without management, which is…
Effective control system is essential for an organization to run properly and achieve its goals. 9 principles must be implemented in designing an effective control system without error. These principles are guidelines for managers in making a control system that helps to achieve organization’s goals.
3 levels of management in organizational hierarchy; (1) Top-level, (2) middle-level, (3) lower level. Top-level managers are responsible for setting organizational goals. Middle-level managers are engaged in carrying out their goals. Lower-level managers are responsible for running every work unit in an organization. Top-level managers are responsible for setting goals, creating plans and supervise the…
Degree of Decentralization indicates the extent to which an organization wants to decentralize depends upon the degree of decentralization. To determine the degree of decentralization, 11 key factors affecting authority, decision making and organization structure must be considered.
Henri Fayol pioneered the concept of management as coordinated functions and a comprehensive framework from which management could be studied and developed. As one of the oldest and most popular approaches to management thought; Henri Fayol’s (29 July 1841–19 November 1925) theory holds that administration of all organizations—whether “public or private”, or “large or small”…
Written communication is generally used when the audiences are in a distant location or when a permanent record is required to be kept for use as a reference to solve any future problem.
Bank’s management procedure is more challenging as regulatory system always is there to control the bank management. 3 Importance of Bank Management are; (1) Changing Regulation of Banks, (2) Increasing Competition due to Changing Technological Development and (3) Changing International Relationship.
Selecting the right audience and understanding what makes them ticks them; is necessary to promote and sell your products to them. 3 categories of the audience are the lay audience, managerial audience, and expert audience.