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Question
Describe the contents of organizational plan.
Solution
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.
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RELATED QUESTIONS
Define organisational plan? A business can be classified in how many categories?
Identify the various factors which will help the entrepreneur as well as the potential investor from the organisational plan.
- Long-term effectiveness of the enterprise
- Profitability
- Specifying the types of skills needed and the roles that must be filled by the members
- The attitudes, behaviours, dress, communication styles etc., thus chalking out informal organisation
