ENTREPRENEURSHIP

Detailed explanation-1: -In a formal group, the relationship between the members is professional, they gather just to accomplish the task allotted to them. On the other hand, in an informal group, there is a personal relationship between members, they share their opinions, experiences, problems, information with each other.

Detailed explanation-2: -Formal control consists of high levels of output and process control, whereas informal control includes high levels of professional and cultural control. The formal and informal control constructs offer a compelling conceptual logic for examining management control in sales organizations.

Detailed explanation-3: -Both formal and informal organizations serve human needs and meet goals ranging from financial to values-based. They allow people to build communities and achieve goals that would not be possible alone.

Detailed explanation-4: -The formal chain of command also keeps work processes under your control, because there is an established method of decision-making and implementation of your directives. The major advantage of an informal organizational structure is that it’s highly adaptable to change.