Law for Business and Management Free Essay Example, 2000 words

The four pillars of management are planning, organizing, coordinating and controlling. The production and marketing of goods and services of an engineering organization are to be effectively managed if the organization has to survive and grow. To enable complete and comprehensive performance in each sphere of activity, work is split up into functional areas such as planning, engineering, purchasing, manufacturing, marketing, services, personnel, finance The four pillars of management are planning, organizing, coordinating and controlling. The production and marketing of goods and services of an engineering organization are to be effectively managed if the organization has to survive and grow. To enable complete and comprehensive performance in each sphere of activity, work is split up into functional areas such as planning, engineering, purchasing, manufacturing, marketing, services, personnel, finance accounts, legal administration, etc. This list is by no means exhaustive and depending upon the specific needs of a business, there could be further split up on the basis of work, region, etc. Further, depending upon the philosophy and needs of a business, the interactions between the different functional departments and their personnel are organized on a formal or informal basis. We will write a custom essay sample on Law for Business and Management or any topic specifically for you Only $17.96 $11.86/pageorder now Formal organizations are somewhat rigid with the exchange of communications taking place along the lines of reporting while informal organizations permit easier flow of ideas across functional boundaries. Each of these styles has its merits and management relevance. Agency is responsible to observe laws having seen a broad picture of engineering organizations and their management set up, it is now pertinent to briefly examine the agencies responsible to observe the laws of the land. Suffice it to say that every employee of an organization is expected to be aware of the legal requirements of his work situation. The higher the position of an employee in the organizational hierarchy, the more is his responsibility. The board of directors and the owners own the ultimate responsibility for any breach of the law, even as the individual responsibility of the employees at various levels is held intact, provided they are made aware of the same by the specifi c acts of management like on-the-job training and exposure to legal issues. A formal organization finds it easier to observe the laws than an informal organization. Among the myriad of laws governing engineering organizations, the Law of Contracts has an important position in relation to the topic of this paper.