Disadvantages of Securitization as an Alternative to Reinsurance
In the previous article, we have already seen what securitization is in the context of reinsurance. We have also seen how securitization can be used as an alternative to reinsurance and the reasons behind the sudden increase in the volume of insurance-related securitizations around the world. It is true that catastrophe-related securities have started proliferating […]
Stress Testing in Credit Risk Management
In the previous article, we have already studied how expected and unexpected losses are calculated using statistical techniques. However, there are certain events and their associated credit risks which are not captured by the analyses mentioned above. In order to include them in the calculation, another technique called stress testing is used. In this article, […]
Different Types of Communication
Let us now go through the various types of communication: Verbal communication Verbal communication is a type of communication where the information flows through verbal medium like words, speeches, presentations etc. In verbal communication the sender shares his/her thoughts in the form of words. In organizations, individuals communicate verbally among each other in the form […]
Political Systems Around the World
Different Political Systems around the World There are many different types of political systems around the world. Whereas the political system in the United States follows a mixture of direct and indirect election, the UK with its Westminster style of democracy is another type of political system. Most of the former colonial countries follow the […]
Advertisements and Public Relations
Advertising and public relations are two different industries altogether. Let us carefully examine the difference between advertisements and public relations: Organizations need to pay for every single advertisement aired on television/radio. Organizations need to buy space/slots in various newspapers, TV Channels, Radio Channels to advertise about their organization/product/service. Public relations experts strive hard to gain […]
An organization is nothing but a common platform where individuals from different backgrounds come together and work as a collective unit to achieve certain objectives and targets. The word organization derived from the Greek work “organon” is a set up where people join hands to earn a living for themselves as well as earn profits for the company. An organization consists of individuals with different specializations, educational qualifications and work experiences all working towards a common goal. Here the people are termed as employees.
The employees are the major assets of an organization and contribute effectively in its successful functioning. It is essential for the employees to be loyal towards their organization and strive hard in furthering its brand image. An organization can’t survive if the employees are not at all serious about it and treat their work as a burden. The employees must enjoy whatever they do for them to deliver their level best.
The attitude, traits and behavioral patterns which govern the way an individual interacts with others is termed as culture. Culture is something which one inherits from his ancestors and it helps in distinguishing one individual from the other.
Every human being has certain personality traits which help them stand apart from the crowd. No two individuals behave in a similar way. In the same way organizations have certain values, policies, rules and guidelines which help them create an image of their own.
Organization culture refers to the beliefs and principles of a particular organization. The culture followed by the organization has a deep impact on the employees and their relationship amongst themselves.
Every organization has a unique culture making it different from the other and giving it a sense of direction. It is essential for the employees to understand the culture of their workplace to adjust well.
In organization A, the employees are not at all disciplined and are least bothered about the rules and regulations. They reach their office at their own sweet time and spend their maximum time gossiping and loitering around.
This organization follows employee friendly policies and it is mandatory for all to adhere to them. It is important for the employees to reach their workplace on time and no one is allowed to unnecessarily roam around or spread rumours.
Which organization do you feel would perform better ? — Obviously organization B
The employees follow a certain culture in organization B making it more successful than organization A.
No two organizations can have the same culture. The values or policies of a non-profit organization would be different from that of a profit making entity or employees working in a restaurant would follow a different culture as compared to those associated with education industry or a manufacturing industry.
Broadly there are two types of organization culture:
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