After reading this article you will learn about the relationship between environment and business. Environment is closely related with business. There is a constant 'give and take' relationship between environment and business. The business receives inputs, information and technology from the environment and gives it back in the form of outputs (goods and services). If these outputs are accepted by [...]
This article throws light upon the top three theories of formal organisation. The theories are: 1. Classical Theory 2. Human and Participative Theories 3. Contingency Theory. 1. Classical Theory: It focuses on structure, design and features like specialisation, scalar chain, departmentation, span of control, centralisation/decentralisation etc. The structure is created and people are appointed to run the various departments. Human [...]
After reading this article you will learn about:- 1. Meaning of Informal Organisation 2. Features of Informal Organisation 3. Merits 4. Limitations. Meaning of Informal Organisation: As formal organisation grows in size, parallel existence of informal relationships along with formal relationships becomes unavoidable. Informal organisations have always existed with formal organisations. They arise because of inevitable social and personal needs [...]