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Which banks merged to become unity bank plc?
The merger that gave rise to Unity Bank Plc was initially between six banks, namely:o First Interstate Bank Plco Intercity Bank Plco Pacific Bank Limitedo Tropical Commercial Bank Plco CentrePoint Bank Plc ando Societe Bancaire Nigeria LimitedAt the conclusion of the merger and after the birth of Unity Bank Plc, three banks, namely:New Nigeria Bank,New Africa Bank andBank of the North Ltd,applied to join Unity Bank, bringing the total to nine (9) banks in all.
What do you mean by shares?
A share in a company is one of the unity in to which the total shares capital of a company is divided.
State the principles of formal organization?
Unity of ObjectiveSpan of ControlSpecialisation or division of WorkException PrincipleScalar PrincipleFunctional DefinationUnity of CommandContinuityFlexibilityBalanceEfficiencyCoordination
What does the statement there is strength in unity mean?
This means more can be accomplished by a group of individuals than just one person.
Applicable in Fayol's principle of management today?
The 14 Management Principles from Henri Fayol (1841-1925) are: # Division of Work. Specialization allows the individual to build up experience, and to continuously improve his skills. Thereby he can be more productive. # Authority. The right to issue commands, along with which must go the balanced responsibility for its function. # Discipline. Employees must obey, but this is two-sided: employees will only obey orders if management play their part by providing good leadership. # Unity of Command. Each worker should have only one boss with no other conflicting lines of command. # Unity of Direction. People engaged in the same kind of activities must have the same objectives in a single plan. This is essential to ensure unity and coordination in the enterprise. Unity of command does not exist without unity of direction but does not necessarily flows from it. # Subordination of individual interest (to the general interest). Management must see that the goals of the firms are always paramount. # Remuneration. Payment is an important motivator although by analyzing a number of possibilities, Fayol points out that there is no such thing as a perfect system. # Centralization (or Decentralization). This is a matter of degree depending on the condition of the business and the quality of its personnel. # Scalar chain (Line of Authority). A hierarchy is necessary for unity of direction. But lateral communication is also fundamental, as long as superiors know that such communication is taking place. Scalar chain refers to the number of levels in the hierarchy from the ultimate authority to the lowest level in the organization. It should not be over-stretched and consist of too-many levels. # Order. Both material order and social order are necessary. The former minimizes lost time and useless handling of materials. The latter is achieved through organization and selection. # Equity. In running a business a 'combination of kindliness and justice' is needed. Treating employees well is important to achieve equity. # Stability of Tenure of Personnel. Employees work better if job security and career progress are assured to them. An insecure tenure and a high rate of employee turnover will affect the organization adversely. # Initiative. Allowing all personnel to show their initiative in some way is a source of strength for the organization. Even though it may well involve a sacrifice of 'personal vanity' on the part of many managers. # Esprit de Corps. Management must foster the morale of its employees. He further suggests that: "real talent is needed to coordinate effort, encourage keenness, use each person's abilities, and reward each one's merit without arousing possible jealousies and disturbing harmonious relations."
Does the concept of unity of command is violated in the matrix structure?
The concept of Unity of Command is violated in The matrix structure of organisation.
how it is used the unity of command today?
The unity of command is used today in military organizations. Unity of command describes the rank of officers, and how on rank will report to the rank above and only the rank above. The command system makes it easier for members to know who they would report to if they have a problem.
What is a less unity of command in an organisation?
A less unity of command in an organization occurs when employees report to more than one manager, leading to confusion, conflicts, and inefficiency in decision-making and direction. It can result in unclear priorities, divided loyalties, and ultimately hinder the overall effectiveness and productivity of the organization.
A sense of national unity has been difficult to maintain in India because of?
Its reliance on foreign aid
How many syllables in unity?
Unity consists of 3 syllables and is divided as follows: u/ni/ty
Are unity of command and span of management similar?
No they are not. A span of command is referring to how many employees are under you and how far your knowledge base has to be to maintain them. For example, if you have twenty employees in one area then your span of command is narrow, yet someone who has two hundred employees has a vast span of command. The unity of command is when a subordinate breaks the chain of command by trying to go to another supervisor but they maintain the chain and send them to the proper person. Kind of like when a child asks one parent for something but hears the wrong answer so goes to the other one...when both 'parents' maintain a unity that is a unity of command.
Are span of management and unity of command similar?
1. Describe how unity of commander is affected by span of management and visa-versa.
Does Unity of Command mean that each individual involved in incident operations will be assigned to only one super?
Unity of CommandThis is True
What does unity of command mean for ICS?
Personnel report to only one supervisor
Question 15 of 20 Unified Command?
Unified Command is established in a multi-agency or multi-jurisdictional incident to ensure all responding agencies work together efficiently. It involves representatives from all involved agencies sharing information, making decisions, and coordinating response efforts to achieve common objectives. The Unified Command structure helps streamline communication, resource management, and decision-making during emergencies.
Advantages and disadvantage of unity of command as in management?
The unity and chain of command principle has several disadvantages in management, including the creation of resentment. An advantage includes that there is only one person to ever take orders from, so it eliminates confusion.
What is the unity of command?
The chain of command, sometimes called the scaler chain, is the formal line of authority, communication, and responsibility within an organization. The chain of command is usually depicted on an organizational chart, which identifies the superior and subordinate relationships in the organizational structure. According to classical organization theory the organizational chart allows one to visualize the lines of authority and communication within an organizational structure and ensures clear assignment of duties and responsibilities. By utilizing the chain of command, and its visible authority relationships, the principle of unity of command is maintained. Unity of command means that each subordinate reports to one and only one superior.
