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TOPIC: STRUCTURE OF BUSINESS
CONTENT:
SUB- TOPIC: Organisational Set up
The organisational set-up of a business involves the allocation of responsibilities and functions to different components of an organisation and delegating authority to such position in order to ensure the smooth operation of the business so as to achieve the planned objectives. It can also be explained as an arrangement and interrelationship of various component part and positions of business.
Principles of Management
The principles of management were postulated or put forward by F. Taylor in 1911. These principles are:
Organizational Chart
This is a diagrammatic representation of the relationship between the various organs of the organisation i.e. the structure of the organisation. It shows the line of authority or command or communication and responsibility.
Importance/uses of organizational chart
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