Delegation: Bear Stearns & Co.
It is understood that it is impractical for a manager to handle all of the work of the department directly. At Bear Stearns & Co., in order to meet the organization's goals, focus on objectives, and ensure that all work is accomplished, he or she must delegate authority. Authority is the legitimate power of a manager to direct subordinates to take action within the scope of the manager's position. By extension, this power, or a part thereof, is delegated and used in the name of a manager. Delegation is the downward transfer of formal authority from superior to subordinate. The subordinate is empowered to act for the manager, while the manager remains accountable for the outcome. Delegation of authority is a person-to-person relationship requiring trust, commitment, and contracting between the manager and the subordinate.
The manager should assist in developing subordinates in order to strengthen the organization and my company is known for providing opportunities for subordinates......
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Approximate Word Count: 1399
Approximate Pages: 6 (250 words per double-spaced page)
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