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What is the definition of an organisation according to R.W. Griffin?=

A group of people working together in a structured and coordinated way to achieve a set of goals.;

Name the four basic components of an organisation.=

People, Goals, Structure, and Technology.;

What is the McKinsey 7S Framework?=

A model involving seven interdependent components: Strategy, Structure, Systems, Style, Staff, Skills, and Shared Values.;

List the stages of the organisational life cycle.=

Entrepreneurial stage, Collectivity stage, Formalisation-and-control stage, Elaboration-of-structure stage, Decline stage.;

What are the types of organisational environments?=

General (macro) environment and Task (micro) environment.;

Why are organisations needed, according to the text?=

To protect against chaos, facilitate the synergy effect, fulfill human needs, and support the development and diffusion of knowledge.;

How do organisations differ based on size?=

By number of employees, turnover value, and assets (e.g., micro, small, medium, and large enterprises).;

What does the McKinsey 7S model emphasize for organisational effectiveness?=

High alignment among all seven components: Strategy, Structure, Systems, Style, Staff, Skills, and Shared Values.;

What is the role of organisational goals?=

Organisational goals guide activities, ensure focus, and help measure progress.;

How do stakeholders influence organisations?=

Stakeholders like managers, workers, customers, and society can affect or are affected by organisational decisions and activities.;

What is meant by the synergy effect in organisations?=

The whole effect achieved by the organisation is greater than the sum of individual contributions.;

How is organisational culture defined in the McKinsey 7S model?=

As shared values, which are the beliefs and assumptions that shape organisational behavior.;

What characterizes rational choice theory?=

Unlimited access to information, optimal decision-making, and a focus on organisational goals.;

How does bounded rationality differ from rational choice theory?=

It involves limited information, satisfactory decisions, and a mix of rational and emotional premises.;

List the steps in the decision-making process.=

Identify the problem, establish decision criteria, weigh criteria, generate alternatives, evaluate alternatives, choose the best alternative, implement the decision, and evaluate the decision.;

Define a team.=

A group of interdependent individuals who collaborate temporarily to achieve specific goals.;

What are the four stages of team development?=

Forming, Storming, Norming, Performing.;

What personal characteristics are essential for successful leaders?=

Creativity, vision, self-confidence, honesty, ambition, and discipline.;

Differentiate between soft and hard skills for leaders.=

Soft skills include communication and team-building, while hard skills include analytical skills and time management.;

What are the components of the general environment?=

Technological, sociocultural, legal and political, and economic factors.;

What entities make up the task environment?=

Banks, government agencies, local authorities, customers, financial institutions, competitors, and suppliers.;

What is the purpose of PESTEL analysis?=

To analyze external factors affecting an organisation: Political, Economic, Sociocultural, Technological, Environmental, and Legal.;

What are the five dimensions of organisational structure?=

Configuration, specialization, centralization, standardization, and formalization.;

Compare mechanistic and organic structures in terms of formalization.=

Mechanistic structures have high formalization, while organic structures have low formalization.;

What is centralisation in organisational structure?=

The extent to which decision-making authority is concentrated at higher levels of management.;

What is time management?=

The process of controlling how time is allocated to specific activities to increase productivity.;

What is the Pareto Principle in time management?=

20% of tasks yield 80% of results.;

Describe the 60% planning rule for managers.=

Plan only 60% of the day to leave room for unexpected tasks.;

What is the Eisenhower Matrix?=

A tool for prioritizing tasks based on urgency and importance;