Business Environment Essay Example | Topics and Well Written Essays - 1500 words

Business Environment - Essay Example Singla also mentioned that the organisation can be of two different types in broader perspective; formal and informal. The formal organisation is an organisation where the structure of it is designed by the management to achieve or accomplish a predefined objective or task. Where as, in case of informal organisation, it is a general grouping of people in the work situation to achieve a particular goal (Singla, 187-188). According to Cole the overall objective of any organisation is to grow as a successful business unit, keeping in mind the benefit of the customer, employee, and stakeholders and also for the community in which they are operating. (Cole, 149).The importance of any organisation can be classified in to following heads namely: synergy effect, team spirit, attainment of common goal, economic development, minimizing economic disparities and transfer and adaptation of technology. Synergy effect: In any organization, people with different sets of skills and expertise work tog ether to develop the synergetic effect with the use of latest technology.  Ã‚  The benefit of working in a group is always higher compared to that of any individual work. Organizations make possible the complex activities completed more effectively. Team Spirit: The most important part of any organizations is the team spirit among the staff members. It always enhances the unity within the members of a particular organization. The culture of working in a team within an organization will also help to build the team player attitude among the individuals which in turn helps in the development of the society. In any public limited company it is a very important aspect towards its success. Attainment of Common goal:  Ã‚  Different individuals in every organization have different goals in respect of their social values. They join the organization in the expectation of the fulfillment of the same. A successful and effective Organization structure fulfills their goals by creating the sui table work environment, and simultaneously achieves the organizational goals with the individual goals. Economic Development:  Ã‚  With the help of the employment, purchasing power will increase as well as the organization has to pay tax which ensures more revenue collection for government. This revenue will help in the infrastructure development of the country like roads, hospitals etc. More over the success of organization directly helps country’s economy to grow farther. Along with that, employment generation is also a key part in the economic development for any nation. Employment generates income, income develops the purchasing power, purchasing power responsible for demand, and to meet that demand production should be increased. To produce more, additional employment is necessary. By this, any country’s economy get stronger. Minimize Economic Disparities: with the development of the organization and the country’s economy, people of the lower level get th e opportunity to work and get remuneration. As a result the gap between different levels of the society in terms of economy gets reduced. Transfer and Adaptation of Technology: Any organization is involved in ongoing process of research to enhance its level of services. In this course, it adapts the