An organization is defined as a social arrangement in which collective goals are pursued and the performance of an organization is controlled by itself and it possess a boundary that separates the organization from its environment. The actual word of organization is derived from a Greek word which means tool (Hardy, Clegg, & Nord, 1996). There are different definitions of the word organization but the word organization is closely related to management and it inculcates elements like structure, behavior, attributes of the stakeholders.
The definitions can be explained as it is a form or formal agreement in which an individual or a number of people combine together to attain profits and to work for the betterment of their organization. However, organization can be of not for profit basis but most of the organizations are directly related to the field of business management. The environment of the organization is framed by its stakeholders and certain external forced like competitors and legal authorizes also shapes up the environment of an organization. Therefore, it can be said that the core purpose of an organization is to achieve collective goals and the performance of an individual doesn’t matter in an organization and the entire organization is responsible for that. The literal meaning of organization is tool and it can be related to the tools of management that are used by individuals to manage the organization.
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