How To Run A Business Organization Effectively?
“A proficient organization is essential for the triumph of a business enterprise. It should also be kept in mind that duties and responsibilities of all the employees in the business are clearly fixed and defined so that there is not even a single loop hole left for anybody to take advantage thereof.”
Success of a business depends upon the competence and the skill of those who are at the helm of affairs. The entrepreneur should recognize all aspects of the business so that he can properly systematize a variety of aspects of the concern.
A well-defined organisationional set up will be helpful in smooth running of a business. A proficient organization is essential for the triumph of a business enterprise. It should also be kept in mind that duties and responsibilities of all the employees in the business are clearly fixed and defined so that there is not even a single loop hole left for anybody to take advantage thereof.
An efficient business organization system ensures proper supervision and control. It smoothes the progress of extension and diversification. The person at the top of the management should be well versed in every technical and administrative skill. He should be self-motivated and be able to cope with the varying budgetary control scenario.
The management should be clear about the objectives as well as the long-term aims that are to be achieved. Various policies should be formed to run business capably. There should be no clash and misunderstanding regarding different policies. Supervision and control system should also be effective to bring synchronization among different departments in the business.
The targets of the work should be predetermined and the performance should be recorded. A remedial action is necessary if the performance is less than the goals. The tenet of span of control should also be followed for effective and practical supervision. The supervisors should be able to dedicate enough time in checking the work of each subordinate.
Management of the human resources is an importance aspect in organization. Proper personnel organization is necessary for enabling all persons to optimize their input towards realizing the cooperative objectives. Personnel organization includes staffing, training, job appraisal, merit rating and fixing of wage.
The organization should also have the ingredient of flexibility to enable extension and diversification of business. The production may rise in the same line and prop up the varied use of accessible recourses.
The organizational structure should be such that it allows the increase or decrease of production as the case may be without disturbing the whole organization. Working environment should also be enhanced for the better so that the workers become positive and try their level best to work more competently.
Author - DeeKay
Tags - Finance, Economy
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