Question

Describe the contents of organizational plan.

Answer 1

Organizational plan includes the following:
(i) The terms and conditions associated with the selected form.
(ii) Lines of authority and responsibility of members of the new venture.
(iii) The names, designation, addresses and resumes of the members.
(iv) Stake of members in the organization.
(v) Roles and responsibilities of each member.
(vi) Procedure for solving conflicts/ disputes amongst members.
(vii) Forms of payment for the members of the organization.
(viii) Voting rights, managerial and controlling rights of the members.