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The Goal-Attainment Approach determines organizational effectiveness by determining the degree to which a firm achieves the goals it has established. This model has a broad scope and calls for a quantitative evaluation of a firm's profit and productivity maximization, its shareholder value and its social and environmental impact. [ 3 ]
Organizational economics is known for its contribution to and its use of: Transaction cost theory: costs incurred to organize an activity, especially regarding research of information, bureaucracy, communication etc. Agency theory: dilemmas connected to making decisions on behalf of, or that impact, another person or entity.
target or goal setting; talent management and development. In order to optimize economic decisions, the use of operations research, mathematical programming, strategic decision making, game theory [8] [9] and other computational methods [10] are often involved. The methods listed above are typically used for making quantitate decisions by data ...
Management by objectives at its core is the process of employers/supervisors attempting to manage their subordinates by introducing a set of specific goals that both the employee and the company strive to achieve in the near future, and working to meet those goals accordingly. [1] Five steps: Review organizational goal; Set worker objective
Organization development (OD) is the study and implementation of practices, systems, and techniques that affect organizational change. The goal of which is to modify a group's/organization's performance and/or culture. The organizational changes are typically initiated by the group's stakeholders.
The organization of the governance framework is important for the success of the organization meeting its goals. Sociologist John Child states that these are connected and, in a circular manner, belief that changes in governance frameworks will succeed positively impacts the chance that the framework will result in the desired changes. [ 5 ]
Impact bonds: These unique financial instruments offer investors the opportunity to finance social programs with the expectation of receiving a financial return if the program achieves its goals ...
Some complexity theorists define strategy as the unfolding of the internal and external aspects of the organization that results in actions in a socio-economic context. [ 22 ] [ 23 ] [ 24 ] Michael D. Watkins claimed in 2007 that if mission/goals answer the 'what' question, or if vision answers the 'why' questions, then strategy provides ...