Characteristics of Strategic Planning Strategic planning is like drawing a map for a business. It’s about making smart decisions to reach long-term goals. By looking at what’s happening inside and outside the company, leaders can set clear and realistic targets. This process involves being organized, disciplined and focused on what’s really important. With good leadership … Read more
Characteristics of Operational Planning Operational planning in business involves creating detailed plans that outline the day-to-day activities required to achieve the company’s short-term objectives. It is executed by middle-level management and focuses on specific departments or units. This process supports strategic planning by translating long-term goals into actionable tasks, ensuring the organization operates efficiently and … Read more
Characteristics of Organizing Organizing in management is like assembling a puzzle where every piece fits perfectly to achieve goals. It’s about dividing tasks, setting up clear roles, and creating a smooth flow of information. Think of it as building a well-oiled machine where everyone knows their job and works together seamlessly. By grouping activities, defining … Read more
Characteristics of Decision Making Decision making in management is the process of selecting the best course of action from multiple alternatives to achieve organizational goals. It involves identifying problems, generating and evaluating alternatives, and choosing the optimal solution based on logical reasoning and analysis. Decision-making is continuous, goal-oriented, and influenced by constraints such as budget … Read more
Characteristics of Departmentalization Departmentalization is the process of grouping tasks, activities, and resources into distinct units or departments within an organization based on factors like functionality, geography, products, services, or customer segments. This structure promotes specialization, enhances coordination, and clarifies responsibilities, improving overall efficiency and productivity. For example, a company may have separate departments for … Read more
Characteristics of Centralization of Authority Centralization is the process where decision-making authority is concentrated within a single location or leader in an organization. This approach ensures a clear chain of command, focused vision, and uniformity in procedures. It is beneficial for small to medium-sized enterprises, allowing quick decisions and improved quality control. However, it can … Read more
Characteristics of Authority Delegation Delegation of authority is a management process where a manager transfers specific tasks and corresponding powers to subordinates. This practice helps distribute workload, allowing subordinates to perform assigned duties effectively. While authority can be shared, the ultimate responsibility remains with the manager. Delegation is temporary and aligned with organizational goals, ensuring … Read more
Characteristics of Formal Organization A formal organization is a structured entity characterized by a clear hierarchy, explicit rules, and systematized procedures. It is legally bound and governed by a central authority, with defined roles, fixed working hours, documented policies, and formal communication channels. The focus is on achieving specific goals and productivity through established rules … Read more
Characteristics of Decentralization Decentralization of authority in business represents a shift from a centralized decision-making model to one where power and responsibility are distributed across various levels of the organization It fosters agility, innovation, and customer-centricity by empowering teams to make their own decisions. In blockchain, it’s the transfer of power and control away from … Read more