Organisations must organise a structure so that their objectives can be achieved. A company will have different departments and procedures with each one having a special function. All of these organised departments and procedures are linked so the company can run efficiently. For many organisation this can be very complex has they will have offices in international countries around the world.
Though it is obvious why understanding organizations is critical to business success, nevertheless it is worthwhile to review these reasons. The structure of a firm either enhances or hinders efficiency and productivity. In other words, how information flows and to whom, whether and how many parts of the work process is redundant, how clear and precise is the reporting structure, if and how new ideas and products are promoted - these and many more issues are obvious consequences of structure and profoundly affect the success of the business.
3. Price- Price concerns the amount of money that customers must pay in order to purchase your products. There are a number of considerations in relation to price including price setting, discounting, credit and cash purchases as well as credit collection.
A corporations is very different from sole proprietorships and partnerships. Corporations are owned by shareholders and are considered to be an independent legal entity. Corporations have very expensive administration fees and very complex tax and legal requirements. The main advantage of corporations is that the shareholders are not responsible for the debts of the company. They are only liable for their investment into the company. Corporations can also sell stock to raise any capital that is needed for the business. Corporations file a separate taxes from that of the owners. Owners of a corporation are taxes on the profits that the receive through salaries, dividends and bonuses. One major disadvantage of a corporation is that they are very costly and time consuming to start and maintain. Sometimes corporations can be subjected to double taxes through taxes on profits and then taxes on dividends. Corporations require an increased amount of paperwork and record keeping. A final disadvantage of this kind of business structure is that the business operations are handled by the managers and the board of directors who can cheat the owners of the business (Parrino et al., 2012).
However, there are few reasons that each organization should support or adopt organizational structure. For example, structure give members clear guidance for how to retain order and get rid of disagreements, it helps bonding members together. In conclusion, it is suggested that it is very important to deal or develop the structure early in organizations’ development.
One of the first things you can find when researching a company or an organization is their organizational chart. The structure of an organization is what provides guidance to all staff by laying out the reporting hierarchy and the flow of work within the organization. To achieve optimum organizational performance, proper organizational structure is needed. The historical starting place of organizational structure theory came from Max Weber. According to Tompkins (2016) Max Weber’s bureaucratic theory states that the operation of large organizations would be impossible without bureaucracy. According to Weber bureaucratic co-ordination of activities and administrative rationality is the primary distinction of a modern organization. Tompkins (2016) also brought forward that Weber’s focus on compartmentalizing functions, on limiting the power of offices, clarifying
Marketing Mix is one of the most important concepts for marketing. Marketing mix is also called the 4Ps, which are price, place, product, and promotion. They are the ingredients that combine to capture and promote a brand or product’s unique selling points that differentiate it from its competitors. Neil H. Borden, an advertising professor at Harvard University coined the term marketing mix. The ideas behind Borden’s model were refined over the years until Edmond Jerome McCarthy, a marketing professor and author Jerome McCarthy, a marketing professor and author reduced them to 4 elements called “The Four Ps.” This classification is currently being used by marketing companies, branding agencies, and web design companies around the world.
There are multiple structural variations that organizations can take on, but there are a few basic principles that apply and a small number of common patterns. The following sections explain these patterns and provide the historical context from which some of them arose. The first section addresses organizational structure in the twentieth century. The second section provides additional details of traditional, vertically-arranged organizational structures. This is followed by descriptions of several alternate organizational structures including those arranged by product, function, and geographical or
Organizing: Arranging and structuring work to accomplish organizational goals. Organizational Structure is the formal arrangement of jobs within an organization. Organization chart: Organization structure shown visually in the form of a chart. Organizational Design: A process that involves decisions about six key elements : Work specialization, Departmentalization, Chain of command , Span of control, Centralization and decentralization and Formalization.
Promotion is a complex mix within the marketing mix consisting of advertising, sales promotion, direct marketing, public relations, personal selling and online promotion.
Organisational structure affects organizational action in two big ways: First it provides a foundation where all the procedures and routines will take place and secondly it determines the employee’s role in the company. In simpler companies there is no need of a structure as the owner manages himself but when a business expands the need of a structure is important as the responsibilities are allocated differently, the individuals know their role and therefore the managing system will be more efficient and precise and in case the company employs new people there is need of a job description.
Organizational structure provides the framework of an organization determining how roles and responsibilities are delegated throughout the different levels of the organization. It has been defined by some as the looking glass through which coworkers see their organization and its surrounding environment while others have described structure as the backbone of the organization. In this memo, I will briefly discuss the importance of organizational structure, give examples of some major organizational structures, and provide factors influencing the choice of organizational structure.
Price- The price of something is the amount of money that you have to pay in order to buy it.
Promotion – Promotion means making customers aware about your products and introducing the customers with the benefits which they can get by buying their products. They can do advertisements, direct marketing and sales promotion for the promotion of the product.