The questions of organization
3 important questions on The questions of organization
What are the key components relevant to an organization's ability to exploit resources for competitive advantage?
The four main components include:
4. Complementary Resource and Capabilities: Combined elements generate competitive advantage.
- Formal Reporting Structure: Defines reporting relationships, depicted in an organizational chart.
- Management Report Systems: Both formal and informal controls.
- Formal: Budgeting and reporting activities.
- - Informal: Culture and peer monitoring.
4. Complementary Resource and Capabilities: Combined elements generate competitive advantage.
How do formal and informal management report systems contribute to a firm's strategies?
These systems ensure managers align with strategies through:
1. Formal Management Controls:
1. Formal Management Controls:
- Budgeting activities
- - Reporting activities
- - Keeping higher-level management informed
- Organizational culture
- - Employees monitoring each other’s behavior
What is the significance of compensation policies in an organization?
Compensation policies play a crucial role by:
- Defining how firms reward employees financially.
- Affecting employee motivation and performance.
- Interacting with other components to create competitive advantage.
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