Notes

Use of an organization chart: An organizational chart is a graphical representation of an organization’s structure. It illustrates the reporting relationships and chains of command within the organization, helping people gain a quick understanding of how the organization is designed.

Different kinds of departments of a business: Businesses often have several departments that perform unique functions, such as Human Resources, IT, Accounting and Finance, Marketing, Research and Development (R&D), and Production.

Levels of hierarchy: Each layer of authority from the top to the bottom of the organization is called a level of hierarchy or authority.

Chain of command: A chain of command is an organizational structure that documents how each member of a company reports to one another.

Span of control: Span of control is the total number of direct subordinates that a manager or supervisor can manage. It depends on the type of work, capabilities, and responsibilities of the manager and the subordinates.

Difference between a tall and flat hierarchical structure and how it is linked to centralized and decentralized types of management: A tall organizational structure has many levels of management underneath the CEO, whereas a flat organization has fewer levels of management. In centralized leadership, there is a transparent chain of command, while in a decentralized organizational structure, teams have more autonomy and there may be cross-collaboration between groups.

AGM: An Annual General Meeting (AGM) is a yearly gathering of a company’s interested shareholders. At an AGM, the directors of the company present an annual report containing information for shareholders about the company’s performance and strategy.

Main functions of managers: Managers perform five basic functions: planning, organizing, staffing, leading, and controlling.

Delegation: Delegation is the shifting of responsibility and authority for certain tasks from one person to another.

Different kinds of leadership styles: There are several leadership styles, including Transformational Leadership, Delegative Leadership, Authoritative Leadership, Transactional Leadership, Participative Leadership, and Servant Leadership