Thursday, May 21, 2020

Organizational Structure And Management Process Essay

One of the most important aspects of any organization is its structure and its management process. The success of any firm is directly related to how well it is organized and how effective it s managed. Organizational structure and management processes are interrelated and they provide a gauge as to how effective an overall business strategy is implemented. The measure of success in any business is how effectively it can compete in finding new opportunities and having the internal structure necessary to compete in different markets and business environments. Management also has challenges and faces pressures from the outside business world and has to understand markets, current market trends and anticipate how markets and industries will perform in the future. Management and the structure of an organization are an integral part of creating the model for any business to be able to compete on a global level based on these trends. The management structure, that s put in place, must address these challenges in order to have success, as organizational structure and management process is critical to ensuring the long-term health of a business. This summary is based on the book entitled Handbook of Business Strategy, by William D. Guth. The strategy of a business is a key factor in how an organization is structured and its management process. The goal of most businesses is to maximize revenues, generate profits and to be positioned for future success. A firm mustShow MoreRelatedManagement Process And Organizational Structure And Lack Of Leadership1832 Words   |  8 Pagesorganisation which hires specific individuals to work together and be rewarded based on performance and innovation. Teams are self-organised and individuals have high independence and authority to make decisions at a local level. 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