Managerial Economics Individual Work1 wk3 Essay Example | Topics and Well Written Essays - 500 words

Managerial Economics Individual Work1 wk3 - Essay Example Different employee roles and job descriptions should be considered when putting in place an organization structure. The hierarchical organization structure embraces a top-down approach relationship. It is a pyramid-like structure where the organization has few experts who delegate specific roles to the other employees. Managers are the main decision makers and act as head of the different departments within the organization. On the other hand, the contemporary organization structure, different employees are specialists in the different roles they undertake within the organization. It is more of a decentralized structure, and employees are expected to make strategic decisions within their areas of specialty. The contemporary organizational structure is very effective, especially in an organization that deals with the manufacturing of products. It encourages participative management as employees are specialists in different fields such as finance, engineering and customer service. (Hiriappa, 2009).The flow and distribution of the information throughout the organization is made easier, and the functions of the different departments are performed effectively. It in turn leads to quality production of goods and the provision of better services to the customers. Therefore, the organization can meet the demands of the market without compromising on the quality of the products and services. Decision making is paramaount in ensuring that the various departments within an organization perform their roles well and in a co-ordinated manner. In this organizational structure, decision making is fast as employees do not have to wait for others to make decisions. The employee is empowered and is expected to make strategic decisions.It also ensures that time is not wasted and that all activities are finished within the allocated time.Furthermore, there is a