Organization

Definition

An organization is a structured group of people working together to achieve common goals through a division of labor and a hierarchy of authority. It utilizes resources efficiently to maximize productivity and achieve its objectives.

Related terms

Hierarchy of Authority: A system in which different positions are ranked relative to each other, guiding the flow of decision-making power from top management down through the levels of an organization.

Division of Labor: The allocation of different tasks to different people or groups in an effort to increase efficiency and productivity within an organization.

Organizational Structure: The system used to define a hierarchy within an organization, establishing how roles, power, and responsibilities are assigned, controlled, and coordinated