In: Finance
Define the word Equifinality. How is it reflected in an organizational system? This information can be found in the Unit 2 Read Section.
In open systems, Equifinality is the principle that the same end goal can be reached from different initial starting conditions and in different ways.
For an organisation, this means that there is unlikely to be
‘one best way’ of achieving its desired objectives.
More recently, the concept of equifinality has come to mean that
the final state, or performance of an organization, can be achieved
through multiple different organizational structures even if the
contingencies the organization faces are the same.
The implications equifinality of for managers are profound:
• There is no universal one best way to achieve high performance, but some ways may be better than others
• What works in one organisation may not work in another
• Managers are not prisoners of circumstance but have a degree of choice and flexibility in dealing with organisational constraints
• Managers need to first work with the structures and processes that they already have in place in order to meet the functional needs of the organisation, before they change them
And many more.
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