MANAGMNT 301 Chapter 8: Management 301 Text Notes
1 Nov 2020
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The structure of organizations is determined fundamentally by their degrees of. People and groups are assigned specialized tasks, and these tasks are coordinated to achieve the organizations" overall mission. Bosses exercise authority throughout organizations" hierarchies, even though owners or stockholders have ultimate authority. Boards of directors report to stockholders, advise management, consider the firm"s legal interests, and protect stockholder"s rights. Span of control refers to the number of people who report directly to a manager. Delegation, the assignment of tasks and responsibilities, offers a variety of benefits but must be managed carefully. In centralized organizations, top managers make the most important decisions whereas in decentralized organizations, many decisions rae delegated to lower levels. Organizations can be structured in a variety of forms, including function, division (product, customers, or geographic), matrix, and network. Matrix structures allow a company to adapt to changing conditions, but present unique challenges to people working within them.
