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Organizational Structure and Corporate Governance in the Firm

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ORGANISATIONAL STRUCTURE AND CORPORATE GOVERNANCE MECHANISMS IN THE FIRM
-organisational structure definition, types, application e.t.c
-corporate governance definition, application in the firm, e.t.c
-importance of corporate governance and organisational structure to the growth of the firm
-organisational structure mechanisms, corporate governance mechanisms in the firm

INTRODUCTION
Organisational Structure
Organizational structure defines the scope of acceptable behaviour within an organization, its lines of authority and accountability, and to some extent the organizations relationship with its external environment. More specifically, it shows the patterns or arrangement of jobs and groups of jobs within an organization and yet it is more than an organizational chart. The organizational structure pertains to both reporting and operational relationships, provided they have some degree of permanence. The individual elements of an organizational structure typically include a variety of components that one may usefully see as building blocks: 1. Departments or divisions 2. Rules, procedures and goals 3. More temporary blocks such as task forces or committees
Ideally, organizational sstructures should be shaped and implemented for the primary purpose of facilitating the achievement of organizational goals in an efficient manner. Indeed, having a suitable organizational structure in place-one that addresses the various human and business realities of the company in question-is a prerequisite for long-term success. Nonetheless, all too often organizational structures do not contribute positively to a company’s performance. This is usually because the structure was allowed to grow somewhat organically and was not redesigned as the company grew so as to more efficiently guide the behaviour of individuals and groups so that they would be maximally...

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