Success factors of company: Difference between revisions
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Following factors can determine success of a [[company]]: | Following factors can determine success of a [[company]]: | ||
Revision as of 00:31, 20 March 2023
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Following factors can determine success of a company:
- Size of the organization - the larger the organization the higher the efficiency of production or services, there is also higher power to influence its suppliers and customers,
- Clear place of each individual in the organization - concerns the proper division of functions and tasks within organization and clear distinction between superiors and subordinates. Precisely stated ranges of decision-making powers and responsibilities is critical in a well-functioning organizations in which each employee knows and accepts his place and perform the task according to the assignment made by managers,
- Specialization - the division of tasks in accordance with specialist skills held by individual employees,
- Control - involves identifying place of individuals in the organization and the allocation of tasks in accordance with the principle of specialization. Implementing proper mechanisms for controlling the results of individual tasks is one of the main task of managers
Above factors are key to the performance of the company so attention of managers and theorists in the field of organization and management is focused on the organizational structures, in particular:
- Adapting number of levels in the organizational structure to the size and range of activities of the company
- Separation of powers between the various levels of management,
- Allocation of control activities and responsibilities
- Identifying the optimum solutions in terms of centralization and decentralization in decision making,
- Identifying areas of activity at different job positions and determining effective renumeration rules,
- Organizing activities in a selected location and on an international scale.
See also:
References
- Leidecker, J. K., & Bruno, A. V. (1984). Identifying and using critical success factors. Long range planning, 17(1), 23-32.
