Q1. What is the difference between authority and responsibility?

A1. Authority is the power to delegate responsibilities and enforce rules and laws. Responsibility is the obligation to carry out duties and obey rules and laws.

Q2. What is the difference between line structure and line-and-staff structure?

A2. In line structure, direct lines of responsibility extend from the top manager to the lowest levels of the organizational hierarchy. In line-and-staff structure, besides the traditional work relationship of line manager and subordinates, there are specialized managers called staff managers to assist line managers in managing day to day operations of the organization.

Q3. What is organizational structure? How does it develop?

A3. An organizational structure shows the relationship between different positions in an organization. An organizational structure develops when the managers assign tasks and responsibilities to their subordinates and manage the diverse activities to achieve the organizational goals.

Q4. What is a self-directed work team?

A4. A self-directed team is a group of individuals responsible for the entire work process to deliver the product or service to an internal or external customer. Self directed team often take it upon themselves to manage their work and work without formal manager supervision.

Q5. What are some of the advantages of specialization?

A5. Specialization saves time by minimizing workers’ movements between tasks and leads to greater efficiency as the workers become better by doing the same task over and over. Specialization also allows each worker to focus on specific tasks he or she is better at.

Q6. How can managers use the “grapevine” to their advantage?

A6. Grapevine can be used by managers to feed facts to counter rumors and incorrect information. Grapevine sometimes also yields valuable information about external factors and can also give great insights into the workers’ job satisfaction.

Assignment 2: Assume you wish to switch to or find a new job; post the steps, references, sources of information you would use to find that perfect job.

First of all, I will research into possible positions that match my interest at industry specific websites such as efinancialcareers.com that advertise finance positions. Once I have narrowed down my interests, I will check social network websites like Facebook and Linkedin to see if I may find a direct or indirect contact in the companies I am interested in. I will also visit job posts and leave professional comments since there is a possibility my comments catch the eyes of one of the recruiters who in impressed by my insights.

I will also let my closest friends and relatives know about my situation so that they keep me in mind in case they get a useful lead or information. I will send customized resume to each position I am interested in and will make sure that I have highlighted the skills that meet the requirements of the advertised positions. I will also contact my references to let know of my job hunt so that they are available in case they are contacted for reference and feedback.