Three Basic Functions That Hierarchical Systems Can Be Designed to Essay

Three Basic Functions That Hierarchical Systems Can Be Designed to Fulfil - Essay Example An organisation is often an entity that aims at commercialisation a solution to the members of the public. It is therefore a fabrication of the people who own control the production and those who are funding the business. These people are often the owners and shareholders of the business. They therefore have the power to get things done in the organisation.The owners of organisations have the power and authority to produce what the company was set up to produce. However, since they might not be capable of managing and running the day-to-day affairs of the organisation, they will need to get other people to do it for them. This is known as delegation. Delegation enables owners to grant authority to people who do their work for them. The people to whom power is delegated have to be accountable to the people who granted them that authority.Due to accountability, there is the need for communication between various people in the organisation so that each of them are in touch with updates on their requirements and expectations. As different delegates operate in a given entity, an organisational culture forms and there are relationships with stakeholders. This brings up the need for some structures to support the organisation and maintain consistency.Hierarchical Structure Weber identified three main things in the bureaucratical model (Walonic, 1993). First of all, an organisation must have a hierarchical structure because there is the need for division of labour.... First of all, an organisation must have a hierarchical structure because there is the need for division of labour. In other words, the people in authority needs to divide up work to specific tasks and functions which can be effectively discharged by people they can employ. This therefore means that work will be divided amongst different people who will be expected to discharge them within the tenets of the organisation. Division of labour automatically comes with the idea of specialisation. Specialisation boils down to the fact that each division of work will master its responsibilities and continue to perfect its operations and outputs as it operates. The concept of specialisation ensures that standards are set and people with the most appropriate qualifications and experience can be appointed to discharge the job. Secondly, Weber identifies that hierarchical structures exist in organisations to ensure that a formal set of rules can be instituted. This effectively means that importa nt rules and ideas can be made and observed by members of the organisation through a defined framework. This ensure stability of the organisation. This is because the problem of chaos and anarchy can be eliminated and different people in the organisation can get a standard to which they can operate. Secondly, the idea of formal rules in the hierarchical structure ensures that there is uniformity and people are aware of what to do and how to do it. Thirdly, the hierarchical structure ensures that leadership and behaviour of the people in the company is rational and legal in nature. In other words, the hierarchical structure ensures that the most efficient systems and justified methods and tools are utilised in an organisation. This therefore means that the

International Monetary Fund Essay Example | Topics and Well Written Essays - 1000 words

International Monetary Fund - Essay Example The International Monetary Fund (IMF) is an inter-governmental organization which was established to endorse international money cooperation, systematic exchange arrangements and exchange stability. The International Monetary Fund (IMF) offers the technical and financial assistance to its members in different areas of economic policy–basically in the field of exchange rates, fiscal, monetary and financial sector policies (The World Economy, â€Å"The International Monetary Fund†). Overview of the International Monetary Fund (IMF) The International Monetary Fund (IMF) was established in July 1944, under the ‘Bretton Woods System’ which comprised of three international organizations, those were: The International Monetary Fund (IMF): It was established with a purpose of developing International Monetary Cooperation. The International Bank of Reconstruction and Development: This was established with a motive of International Development Assistance and Investme nt. The International Trade Organization: It was established with a motive to develop International Trade. The above three components of The Bretton Woods System were entertained in the context of war, high unemployment, depression, hyper inflation and high fluctuating exchange rates which effected the global economy in the 1930s (Sykes, â€Å"Organisational Information†). ... Surveillance Consultations: Consultations concluded for 120 countries in FY 2010 and for 88 countries in FY 2011 as on 11/02/2011 (The International Monetary Fund, â€Å"The IMF at a Glance†). The IMF’s governing body essentially, is the board of governors. Each state is being represented by their respective elected governor (member of the Board of Governor, IMF). The IMF’s executive board is its executive body, and is comprised of 24 Executive Directors; each of them is either elected or appointed by the members. The executive board of the IMF is responsible for regulating the smooth flow of business of the organization. There are two committees, the International Monetary and Financial Committee and the Development Committee which are appointed by the Board of Governors (Sykes, â€Å"Organisational Information†). Merits and De–Merits The IMF has executed many reforms till date, it has been designed to strengthen its network and improve its capabil ity to perform well and serve its membership efficiently. The IMF has rapidly become an open and transparent organization; it has also inculcated transparency among its membership. Moreover, it is also working to strengthen its economic governance. These aspects have been undertaken through promoting the use of codes and standards as a medium for better financial management, economic and corporate governance. The IMF is also working to safeguard the integrity and stability of the International Financial System globally. More specifically, the IMF, the World Bank along with the Financial Sector Assessment Program (FSAP) perform together to strengthen the combat money laundering sectors along with the financial sectors in member countries. The International Monetary Fund (IMF) is an