Urban Fashions Corp. has become very successful in the last few years and now em

Question

Urban Fashions Corp. has become very successful in the last few years and now employs a large number of people. Serena, the owner of the firm, had been very informal in running the company. However, because of the increase in the size of the firm, she now feels that the informal ways of management have become ineffective. In order to structure the behavior of employees, Serena wants to introduce written codes of conduct and regulations into the firm. This change being introduced in the company by Serena is referred to as ________.

nationalization

disintermediation

formalization

decentralization

nationalization

disintermediation

formalization

decentralization

Explanation / Answer

This change being introduced in the company by Serena is referred to as Formalization. It is a process by which the mangement of an organization specify particularly in writing the rules regulalations processes, procedures and responsibilities of each of the employees of the orgnazation so as to ensure the smooth functioning if the organization. It also helps in better decision making.

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