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Fayol presented work specialization as the best way to use the human resources of the organization. The concepts of Authority and responsibility are closely related.
Authority was defined by Fayol as the right to give orders and the power to exact obedience. Responsibility involves being accountable, and is therefore naturally associated with authority. Whoever assumes authority also assumes responsibility.
A successful organization requires the common effort of workers. Penalties should be applied judiciously to encourage this common effort. Workers should receive orders from only one manager. The entire organization should be moving towards a common objective in a common direction.
The interests of one person should not take priority over the interests of the organization as a whole. Fayol defined centralization as lowering the importance of the subordinate role.
Decentralization is increasing the importance. The degree to which centralization or decentralization should be adopted depends on the specific organization in which the manager is working. Managers in hierarchies are part of a chain like authority scale.
Published: Mon, 5 Dec The assignment is meant to critically analyse the relationship between resource-based view (RBV) and firm’s performance in order to achieve sustainable competitive advantage. the survival-based theory, the resource-based theory, the agency theory, the contingency theory and the human resource-based theory are the main applicable strategic management theories observed in management literature. As noted earlier, this paper concentrates on the human resource-based theory as a perceptive option for . Published: Thu, 09 Aug This report reviews empirical studies of the resource-based view (RBV) and examines the benefits and limitations of RBV as the “best” strategy route in the developing a .
Each manager, from the first line supervisor to the president, possess certain amounts of authority. The President possesses the most authority; the first line supervisor the least. Lower level managers should always keep upper level managers informed of their work activities.
The existence of a scalar chain and adherence to it are necessary if the organization is to be successful. For the sake of efficiency and coordination, all materials and people related to a specific kind of work should be treated as equally as possible.
All employees should be treated as equally as possible.
Retaining productive employees should always be a high priority of management. Recruitment and Selection Costs, as well as increased product-reject rates are usually associated with hiring new workers.
Management should take steps to encourage worker initiative, which is defined as new or additional work activity undertaken through self direction. Management should encourage harmony and general good feelings among employees.Fred R.
David's revision of his popular text gives students of all levels a thorough and interesting introduction to strategic management — one that will show you the value and the excitement of the field.
The Theory Of Strategic Human Resource Management Commerce Essay. Human resource management is a system, which concern to manage organization work force (Bateman & . The relationship between firm’s resources and performance has been a theory for strategic management.
RBV analysis assumes that resources and capabilities are two important elements for achieving superior firm performance. The criteria for these strategic resources should be valuable, rare, inimitable and non-substitutable.
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The resource-based theory or resource-based view (RBV) of firms is a concept of business strategy highlights the need for a fit between the external market context in which a company operates and its internal capabilities.
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