Definition of Organization

In: Business and Management

Submitted By chaday
Words 330
Pages 2
'What are the four definitions of organization?

An organization can be define by four main factors including: the group of people, persons, acting together in synergy for a common and specific purpose; the economic actors following economic goals and the economic impact on their environment; the accumulation of knowledge and learning of the different actors composing the organization; and the bundle of the different type of resources available for it.

As a collection of people, stakeholders are the ones directly or indirectly connected to the organization. These actors have an interest in all its activities. The internal ones, directly involved in the organization (such as employees for example) are implicated in organizational politics and submitted to a hierarchy usually well define.

As an economic actor, organization involve buyers and sellers of products or services. This concept induce the fact that the organization must be profitable and generate revenue producing what it sells, and so at an acceptable price and cost. To be able to do this, its different costs and efficiency must be well controlled to adapt, in its industry, to its market conditions.

As an accumulation of knowledge and learnings, the organization is also define as a history of way of doing things, adapting its processes to ameliorate the work which have to be done, by putting in place some routines for example. And what enrich the organization is also all the tacit knowledge coming from the managers’ personal thinking and experience.

As a bundle of resources, a lot of different types of resources are needed to make the organization working efficiently. Physical, financial, human, intellectual and other types of resources are necessary to give to a company its strength and competitive advantage.

By combining all these four aspects of an organization, we can explain why a…...

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