October 18, 2008

Communication within the Organization

Organizational communication is the specific process through which information moves and is exchanged throughout an organization.

The flow of information can be in one of the following way:
· Through formal and informal structures
· Downward, upward, and laterally flow of communication


There can be usually three types of communication inside the organization, that can be

· Downward communication
o The flow of information follows the chain of command from top to bottom in the organization that is from top to middle and then to front line managers. It informs lower level personnel about the higher level managers’:
Strategies, Objectives, Instructions, Policies and also gives them feedback which is essential for the growth.

· Upward communication
o The flow of information from lower to higher levels of the organization, i.e., reverse to the downward communication. It informs higher level personnel about lower level workers’:
Problems, Results, Giving them suggestions of how to work, and also to question them about their strategies.

· Lateral communication
o The flow of information across persons or work units at the same hierarchical level. It is to enable persons and work units to coordinate about their mutual:
Problems, Needs, Advices and giving each of them continuous feedback about each other’s performances.

Lateral communication is key to success in fast growing organizations, because with this each member in the organization can feel and realize the importance of his/her own work and not only this but also they can know what others are doing, which if not -can be a painful factor for the management in the growing firms. It is also very important in high performance organizations.

The communication inside the organization for a successful entrepreneur and especially while growing must be a decentralized so that everyone can understand the basics of the aims, missions and targets of the organization.

October 15, 2008

Kinds of Entrepreneurs

Innovating entrepreneurs
“He is the one who introduces something new into the economy or employs a new technique of
production”.


Imitating Entrepreneur
“They lap up innovations originated by the innovative entrepreneurs. They are suited to developing countries which are not able to take up expensive research”

Fabian Entrepreneurs
“They are very cautious and skeptical in adopting and implementing any change. They are lazy and shy and lack the will to adopt new methods. They follow the old traditions and avoid risk taking”.

Drone Entrepreneurs
“Inert and traditional, they are hurdles in economic development. They struggle to exist, not to grow”.



Reference:
Aitken, Huge J (exploration in enterprise, Harvard University press page46