Read this article to learn about the difference between Formal and Informal Organistion. # Formal Organisation: 1. Purpose: A formal organisation is created for the fulfilment of technical objective. 2. Degree of Rigidity: It follows predetermined rules as to lines of authority and responsibility. 3. Flow of Authority: Under formal organisation, formal authority is from upward to downward. 4. Size: [...]
This article will help you to quickly learn about the difference between departmental store and multiple shops. Departmental Store 1. Basic Objective: These stores are established to provide everything to the customers at one place. 2. Location: It is centrally located and attracts customers. 3. Range of Choice: These stores deal in a variety of commodities and offer to the [...]
This article will help you to learn about the difference between the Instalment system and the Hire purchase system. Difference between Instalment System and Hire Purchase System Hire Purchase System 1. Ownership: The ownership lies with the seller until the last instalment is paid by the buyer. 2. Rights of Seller: If the buyer fails to make the payment in [...]