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Define the concept of synergy and how it relates to management of organizations?
Wiki User
∙ 14y ago
The concept of synergyis at the core of resource-based thinking, dating back to Edith
Penrose's seminal contribution. More specifically Penrose (1959), without using the actual
word though, was concerned with two forms of synergy: the possibility of sharing particu-
larly managerial resources, which is brought about due to inevitable indivisibilities of
resources, and transfer of excess (and limitedly tradeable) resources. According to Porter
(1987) those are the only kinds of synergy available to firms, but this paper will hopefully
make it clear that his conception is too narrow in scope.
Wiki User
∙ 14y ago
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Why should hr strategy be consistent with both organisational strategy and functional strategy?
Organizations gain synergy when all areas are in "alignment" with the core/key organizational strategies. It is as if all areas are moving in the same direction focusing on the same key business objectives. Alliance EDI, LLC
How should a corporation attempt to achieve synergy among functions and business units?
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What is Harmonizing objectives in princples of management?
It simply means bring a common agreement or say combining the organizational objectives with the individual objectives If we create such a system where employees' as well as organization both are having the common goals and objectives, synergy will be achieved. Thus harmonization in objectives will ensure the welfare and benefits for both organization and individuals.
What is a team based organization?
A Team based organization is one that realizes the benefits of operating in teams. They are actually called Learning Teams. It is the notion that working through teams produces working through synergy. Synergy can be compared to 2 + 2 = 5. In other words, four individuals can accomplish more working as a team than if they were to work independently of each other.Learning Teams are developed at all levels of the organization. There are teams at the department level, divisional level, and senior management level.A Learning Team is characterized as a group of individuals (the smaller the better) having an expertise of their own. They are multi-leveled (so every level of employee is represented), multicultural (it terms of organizational culture), and cross- functional. The object is to develop commonality among members of the team. In other words, common purpose, common cause. It is based on organizational/group interest rather than individual interest. It is based on mutual respect, trust, and open, honest and direct communication among all members of the team. They establish goals and objectives that are strictly aligned with the overall goals and objectives of the organization. They develop appropriate strategies and tactics leading to successful outcomes through Project Management. Each team has a team leader, who's responsibility it is to keep the direction of the team in strict alignment with the organization's goals and objectives so there are no misalignment's, gaps and disconnects within the organization. Excellent communication is critical to the success of learning teams and the concept of learning teams must have 100% commitment of senior leadership. Most successful organizations are now realizing how the Learning Team concept adds business value to the organization.Viper1
What are the five steps of the Synergy Action Plan?
1. Define the problem or opportunity 2.Their Way 3.Your Way 4.Brainstorm 5.High Way
What is systems theory as it relates to business?
Systems theory suggests that organizations operate much like the human biological system, having to deal with entropy, support synergy, and subsystem interdependence
What perspective says the whole is greater than the sum of its parts?
It is the concept of synergy which is not really a mathematical concept.
What is one word for the concept of the sum bigger than its parts?
Synergy.
What is the definition of negative synergy?
synergy that ain't positive is termed as negative synergy...;)
The advantages of using teams in organization?
There are countless advantages of using teams in organizations. Modern industries are based on teams and trend for team based work in organizations is growing rapidly day by day. There is a modern concept "Synergy" which holds that when people work in groups in organized manners more results and hence this way is the most productive one nowadays. It simply means 1+1=11
What are the advantages of synergy?
financial and operating synergy
What is a sentence for synergy?
"Gung ho" and "synergy" mean the same thing: work together.
What is Concept of synergy?
(2) Synergy in terms of management and in relation to team working refers to the combined effort of individuals as participants of the team. Positive or negative synergy can exist. The condition that exists when the organization's parts interact to produce a joint effect that is greater than the sum of the parts acting alone.synergy refers to a financial benefit that a corporation expects to realize when it merges with or acquires another corporation. This type of synergy is a nearly ubiquitous feature of a corporate acquisition and is a negotiating point between the buyer and seller that impacts the final price both parties agree toA synergyis where different entities cooperate advantageously for a final outcome. Simply defined, it means that the effect of the whole is greater than thesum of the effects of the individual parts. Although the whole will be greater than each individual part, this is not the concept of synergy. If used in a business application it means that teamwork will produce an overall better result than if each person was working toward the same goal individually.
What has the author Michael Muchnik written?
Michael Muchnik has written: 'Complete Guide To Plant Operations Management, 21st Century Business Synergy'
When was Synergy Health created?
Synergy Health was created in 1991.
What is Synergy Health's population?
Synergy Health's population is 4,000.
When was Tri Synergy created?
Tri Synergy was created in 1996.
