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| Meaning | Delegation means handing over an authority from one person of high level to the person of low level. | Decentralization is the final outcome achieved, when the delegation of authority is performed systematically and repeatedly to the lowest level. |
| What it is? | Technique of management | Philosophy of management. |
| Accountability | Superiors are accountable for the acts done by subordinates. | Department heads are accountable for the acts of the concerned department. |
| Requirement | Yes, for all organization delegation of authority is very necessary. | No, it is an optional philosophy which may or may not be adopted by the organization. |
| Liberty of Work | Subordinates do not have full liberty. | A substantial amount of freedom is there. |
| Control | The ultimate control is the hands of superior. | The overall control vests with top management and delegates authority for day to day control to departmental heads. |
| Relationship | Creates superior-subordinate relationship. | A step towards creation of semi-autonomous units. |
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Sia ? 6 years, 6 months ago
(i) Work study refers to a scientific study of techniques to determine a fair day's work for every worker.
(ii) Its main objective is to improve efficiency.
(iii) It includes method, motion, time and fatigue studies.
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Planning is the process of thinking about the activities required to achieve a desired goal.
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| Meaning | Functional Structure is one in which the reporting relationships of the organization are bifurcated according to their functional area. | An organizational structure wherein the organizational functions are classified into divisions as per product or service lines , market, is called Divisional Structure. |
| Basis | Functional areas | Specialized divisions |
| Responsibility | Difficult to fix responsibility on a particular department. | Easy to fix responsibility for performance. |
| Autonomy of decisions | Managers do not have autonomy of decisions. | Managers have autonomy of decisions. |
| Cost | Economical, as the functions are not repeated. | Expensive as it involves repeatation of resources. |
| Appropriate for | Small and simple organizations. | Large and dynamic organizations. |
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Business ethics can be defined as the code of conduct that a business must follow, such that it takes up only those activities that are desirable from the viewpoint of society. The purpose of business ethics is to guide managers and other employees in an organisation in performing their jobs in a manner that is socially acceptable.
In other words, business ethics is the study of appropriate business policies and practices regarding potentially controversial subjects including corporate governance, insider trading, bribery, discrimination, corporate social responsibility, and fiduciary responsibilities.
For example, Company XYZ sells cereals with all-natural ingredients. The marketing department wants to use the all-natural ingredients as a selling point, but it must temper enthusiasm for the product versus the laws that govern labelling practices.
Business ethics should be followed in the day-to-day working of a business enterprise. The following are some of the elements of business ethics.
- Commitment by top management: Top-level officers, such as the CEO's and other higher-level managers, must sincerely follow the ethical code of conduct. They should also guide other employees in their organisation in adopting the code.
- Publication of a 'code': An enterprise must clearly define the ethical code of conduct to be followed in the organisation. The code should include quality standards for work, laws governing production and employee's health and safety standards.
- Establishment of compliance mechanism: In addition to setting performance standards, an enterprise must also devise a mechanism through which it can measure the actions of individual employees.
- Involvement of employees at all levels: The successful implementation of ethical standards depends to a large extent on the involvement of employees at different levels. This is because it is the employees who actually implement ethical codes.
- Measurement of results: Although it is difficult to measure the end results of the implementation of ethical standards, the top management should take steps to monitor compliance.
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Vishakha Ahlawat 5 years, 5 months ago
8Thank You