Organisation and management coursework Essay Example | Topics and Well Written Essays - 3000 words

Organisation and management coursework - Essay Example The section of organization in which individuals are responsible for decision making pertaining to the business company is commonly called management. Management section is headed by manager or managers depending upon the structure of the organization. They conduct decision making practices according to the organizational objectives and goals. Richard L. Daft and Patricia Lane, (2009), state that the attainment of organizational goals by planning, managing and utilizing the available organizational resources is called management. Realizing the significance of management, manager selection should be done with great care. This is because it is ultimately managers who integrate organizational staff in a friendly manner, motivate them and push them to serve the company in the best way. Mangers need some tools in order to conduct management. Bargaining theory is one of the important instruments that help managers make successful decisions. Bargaining theory facilitates managers to settle down the differences between various business parties with the help of bargaining tool. In order to utilize bargaining theory in a best possible way, mangers need to be innovative. With the power of innovation, managers are in sound position to bargain efficiently. Bargaining theory is an offshoot of game theory, which is a very central mathematical and economic theory in itself. In this part of the question we will discuss the theory of bargaining in detail along with its historical background. The theory of bargaining is derived from the concept of bargaining. Bargaining is a type of negotiation for price settlement between varying business parties. It is a situation in which business parties agree on the matter of cooperation but face a conflict on how to corporate. Bargaining is a desirable business tool because it provides a solution accepted by all business players i.e. employers and