This article throws light upon the eight steps in strategy formulation in management. The steps are: 1. Setting Basic Objectives 2. Identify Opportunities and Risks 3. Evaluating Alternative Resource 4. Formulating Alternative Strategies 5. Evaluating these Alternatives 6. Establishing Basic Strategy 7. Implementing Strategy 8. Evaluating Strategy. Step # 1. Setting Basic Objectives: The firm initially sets provisional objectives. The [...]
This article throws light upon the five main steps involved in organizing process. The steps are: 1. Consideration of Plans and Goals 2. Determining the Work Activities Necessary to Accomplish Objectives 3. Classifying and Grouping Activities 4. Assigning Work and Delegating Appropriate Authority 5. Designing a Hierarchy of Relationships. Step # 1. Consideration of Plans and Goals: Organisational plans and [...]
This article throws light upon the eight important factors of departmentation that affect span of management. The factors are: 1. Competence 2. Physical Dispersion 3. Non Supervisory Work 4. Required Interaction 5. Standardised Procedures 6. Similarity of Tasks 7. Frequency of New Problems 8. Preferences. Factor # 1. Competence: Prima facie, the more competent the manager and his (her) subordinates, [...]