Organisational Transactions Essay Example | Topics and Well Written Essays - 750 words

Organisational Transactions - Essay Example Similarly, to improve management in an organization, natural approach is admitted and a perception of exchange is laid which begins like: The process of give and take is known as Law of Reciprocity or exchange of currencies with an expectation to get the reward back. â€Å"Currencies† can also be referred as â€Å"favors† that one does for colleagues, managers or clients. An exchange of currencies could be in any gesture like a note of appreciation, praise in a meeting, raise in a salary, paid holidays etc (Brian Tracy, 2002). It all depends upon the relationship one has with his/her colleagues, managers or high officials and the number of currencies used among employees. This process nourishes when one develops strong alliances and build positive relationship with his team members and supports the idea that reciprocity is the fundamental principle of organizational transactions and should be done with the balance of equal returns. However, exchange of currencies is alw ays not possible but this is where the mutual understanding and compatibility differs. It mostly happens at higher level where approach of targeting objectives is unparallel among two senior officials and thus results in inconvertible currencies (Cohen, Bradford, 1989). FAILURE IN ORGANIZATIONAL TRANSACTIONS: (Cohen, Bradford, 1989), it is very important to deal the organizational transactions responsibly because it fails if the three factors are not dealt appropriately: Underestimation of potential allies: This explains that an influencer should never underestimate an employee but to weight them all as a potential allies. Understanding the ally’s world: An influencer should know what his allies want in return and how they want. Self awareness of an influencer: It is very important for an influencer to target the objectives instead of getting disoriented with what is to be achieved. PERSONAL PERSPECTIVE: To create a Leaderful Organization, thought process and approach have to be diversified to be benefited with this new theory. Personally, if I and my CEO share a same interest then there is nothing wrong in arranging a game with him as mentioned, he is also a good squash player. It could be very overwhelming and different if a boss himself invites to play a game. And a situation can completely differ if a junior tries to influence a boss by inviting him for a game. There could be two different outcomes: positive and negative but consequences cannot be predicted until the outcome of the match is visible. Though, if the intention is just to invite him with open hearts, not for the sake of showing him down or proving himself but to have a healthy interaction besides official matters. This kind of exchange predicts Personal Related Currencies, in which one uplifts or upholds self esteem, values and identity and both share the task which increases their skills and expertise. And the best part is the gratitude they show to each other. It is important to know and understand before arranging that what approach is suitable for a potential ally, an offer for a game first or a solution to a problem in an office first. Once the match is programmed and the boss is ready to face it positively, employee would try his hard to prove himself and boss himself would put his complete efforts to win the match. There is a possibility that if a boss loses, he