BANKING AFFAIRS

Detailed explanation-1: -Departmentalization. Once jobs are divided up through work specialization, those jobs need to be combined together to coordinate common tasks. Departmentalization is the basis by which jobs are grouped together.

Detailed explanation-2: -Work specialization, sometimes called a division of labor, refers to the degree to which an organization divides individual tasks into separate jobs. It allows the manager to take complex tasks and break them down into smaller, more precise tasks that individual workers can complete.

Detailed explanation-3: -Specialization refers to individuals and organizations focusing on the limited range of production tasks they perform best. This specialization requires workers to give up performing other tasks at which they are not as skilled, leaving those jobs to others who are better suited for them.

Detailed explanation-4: -Hierarchical structure In a hierarchical organizational structure, employees are grouped and assigned a supervisor. It is the most common type of organizational structure. Employees may be grouped by their role or function, geography or type of products or services they provide.

Detailed explanation-5: -A cross-functional team is a workgroup made up of employees from different functional areas within an organization who collaborate to reach a stated objective.