Organisational Structure

By | April 14, 2020

The term organisational structure reveals the established pattern of relationship among the constituent parts of the organisation. It prescribes the relationships among various activities and various positions in an organisation. It is nothing but a chart of relationships. Organisation Structure refers to a system where the work is divided formally. These smaller tasks are gathered and synchronised in… Read More »

Types of Organisational Culture

By | April 13, 2020

Clan  Culture: In Clan Culture, the working atmosphere is amiable. There are commonalities among the people and the entire organisation is equivalent to a large family. The leaders seem a fatherly figure, while royalty and tradition hold the organisation together. The sense of unity binds the organisation together. There is strong peer pressure. The leader here is a… Read More »

Bureaucracy Theory

By | April 12, 2020

It can be defined as the organisational structure with highly routine operating tasks performed under formalised rules and regulations with tasks assigned to various departments. It gives foundation to formal organisation. Max Weber evolved bureaucratic theory in his work, “The Theory of Social and Economic Organisation.” Elements of Bureaucracy: Hierarchy: There are managerial levels where each subordinate is… Read More »

Mechanism of Corporate Governance

By | April 12, 2020

In our country, there are various mechanisms to ensure corporate governance. They are Companies Act, 2013: Companies in our country are regulated by the Companies Act, 2013, as amended up-to-date. The Companies Act is one of the biggest legislations with 658 sections and 14 schedules. The arms of the Act are quite long and touch every aspect of… Read More »

Concept of Corporate Social Responsibility (CSR)

By | April 11, 2020

Corporate Social Responsibility (CSR) is philanthropy and set of activities that corporates exercise in order to perform their moral duties. It is humanitarian, community work or social work done by the enterprises. It is the relationship between business and the people or societies with which they work together. It is enduring commitment of the firm to act responsibly… Read More »

Inflation: Introduction and Types

By | April 9, 2020

Inflation is a quantitative measure which ascertains the average price level of various goods and commodities increase in an economy. It is a persistent situation with an increase in price. When the prices of commodities begin to rise, the purchasing power of rupee 1 starts falling. Hence, inflation causes a decrease in the purchasing power of the economy.… Read More »

Errors and Common Biases in Decision-making

By | April 8, 2020

Availability bias: Under this bias, the decision-maker makes his decision and judgements on the basis of information, data and facts that are freely and easily available. If any piece of information is easily available, then it can be remembered easily which helps in decision-making. Overconfidence bias: This bias arises when the decision-maker is given factual data and is… Read More »

Decision Making Process

By | April 7, 2020

Decision-making process was designed by Herbert Simon. The model comprises three distinct elements which are as follows: Intelligence: This refers to the raw data which is gathered and probed. This data helps in identifying the problem which requires decision making. It helps in knowing the problem is about. Design: This element focuses on developing, designing, inventing and examining… Read More »

Types of Decisions by Managers

By | April 6, 2020

Routine Decisions: These are the day to day decisions taken by lower level and middle-level managers. They are taken after analysing the already laid procedures, rules and policies. The middle-level managers use the standard policies set by the top-level management as a benchmark to derive at a certain choice. They are also known as tactical decisions. They can… Read More »

Management Roles

By | April 5, 2020

Mintzberg has propounded various roles that a manager has to fulfil. These roles were published in his book ‘Mintzberg on Management: Inside our strange world of organisations‘ in the year 1990. The roles are enlisted below: Interpersonal Role: Interpersonal roles are those roles that deals with human, such as making networks i.e. liasons, motivating people i.e leadership and… Read More »