ORGANIZATION: Definition: An organization is a collection of people working together in a coordinated and structure fashion to achieve one or more goals. Organization is a system of consciously coordinated activities or force of two or more persons.
OBJECTIVES: The organization should set up certain aims for the achievement of which various departments should work. A common goal so devised for the business as a whole and the organization is set up to achieve that goal
NATURE OF ORGANIZATION: Organization Formal Informal
Formal organization: It is a structured group of people who work together to achieve a common goal. It have rules, roles and responsibilities .They are often legally binding and governed by a central authority. Examples: Business Schools Government agencies
Informal organization: It is a group of people who come together to achieve a common goal, without formal rules or structure. Informal organization are based on social interactions and personal relationships. Examples: Social groups Work groups