Tiêu đề MCO 1 Santosh Sir EM Notes @UpToDateWithUpdates.pdf ✅

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SANTOSH KUMAR SHARMA (MCOM / BED / MBA) 2 Unit-1: Organisation Theory and behavior Meaning of Organisation Organisation is a process of combining 4M’s (men, money, materials and machinery)to accomplish the goal of a firm. In simple words organization is an association of people working together to achieve a common goal. It may be defined as “the process of identifying and grouping work to be performed, defining and delegating responsibility and authority and establishing relationships for the purpose of enabling people to work most effectively together in accomplishing objectives.”- Louis Allen. Five facts common to all organisations: • Organisation is an association of persons. • All the persons work to achieve the common goal of the Organisation. • Their activities are inter-related. • There are continuous interactions among these persons. • Each person fulfils his personal objective through Organisation. Features of an Organisation The following are the important characteristics of an organisation: 1) Division of work: The first step in organising is to identify the work and divides that into various departments and employees. It avoids duplication of work, saves time and encourages specialisation of work. 2) Departmentalisation: It refers to grouping the work into different departments. In short, in this step work is distributed among various departments or units. 3) Assignment of duties: After forming departments, each of them is placed under the charge of a manager. Then duties are given to each employee according to their skills. 4) Reporting: Each employee must know to whom he is responsible to. He must take orders from one boss and should report to him. The boss and employee relationship must be clear. Importance of Organisation Organising is important due to the following reasons: 1) Specialisation: Each employee becomes a specialist in his own work. It increases efficiency and productivity of workers. This results in saving time and workload. Because each employee is given work according to his skills and qualification. 2) Clear relationship: Organising helps to establish clear relationship between a manager and his subordinates. Employees are not confused. They know to whom they are responsible. This helps to fix authority and responsibility. 3) Effective administration: Organising helps to group the activities into departments. This helps to manage the affairs properly. Administration work becomes simple. A manager can easily supervise and controls the performance of the employees. 4) Efficient use of resources: Organising helps to utilise the resources properly. It avoids duplication and overlapping. This leads to reduce wastages. As we know, resources are limited and an organisation has to make the best use of available resources. 5) Development of personnel: Organising increases creativity among the employees due to specialisation. They get time to explore new ideas for the growth and expansion of business enterprise. The employees have better career choices and development. 6) Development of organisation: Organising helps in growth and expansion of business enterprise due to increase in the productivity of the employees. It can take new challenges and adventures. Through systematic organising, a firm can know its strength and weaknesses and would be well placed to face competition. Types of Organisations