formal organization
Definition
Rules established by an organization to govern procedures and operations. These rules are generally in writing and very specific, leaving little room for misunderstandings. Depending on the individual organization, these rules may be strictly adhered to or in some cases considered little more than a formality that few follow.
Related Articles
- Explanation of the Income Statement *
- Introduction to Paying For College *
- Index Funds and ETFs *
- An Explanation of REITs *
- Splits and Buybacks Explained *
- Basics of The Value Investing Stock Strategy *
- Should I Buy a Used or a New Car? *
- Analyzing Investments and Recording Transactions *
Related Videos
http://www.businessdictionary.com/definition/formal-organization.html
