Introduction:
Banks are the most important financial intermediary in the economy as it connects surplus and deficit economic agents. They are vital institutions in any society as they significantly contribute to the development of an economy through facilitation of business. In the absence of banks; where would you go to borrow money? What would you do with your savings? Would you be able to borrow (save) as much as you need, when you need it, in a form that would be convenient for you? Because of the power of financial intermediation of the banks, these puzzles are resolved through the banking system hence they cease to be your problem but instead become the banks problem.
As inevitably important aspect of the economy and the society, I have …show more content…
It refers to the way an organization establishes authority, responsibility and communication within the organization, defines reporting relationships, lines of authority, job positions and responsibilities, and reflects an organizations environment and culture. Bureaucratic, or tall, and flat organizational structures are two of the most common types of organizational structures. Bureaucratic structures typically have multiple hierarchical layers with power flowing from the upper layers to the lowest. The number of layers varies between different organizations. It is common for larger companies to have more than five layers, while smaller businesses may have two or three layers only. Bureaucratic organizations are centralized structures while flat organizations are decentralized structures. Centralized structures imply that authority and decision-making concentrates within a select few individuals - typically the company CEO and his core team. The remaining members of the organization take orders directly from the top and have limited say in decision-making. (V.G. Kondalkar,