The Organization for Economic Cooperation and Development (OECD) provides a forum for discussion and development of public-sector and corporate policy making. The OECD consists of 30 member countries and maintains relationships with other countries and nongovernment organizations (NGOs) involved in social and economic policies.

Organization behavior (OB) is the study of the actions of individuals and groups within organizations. Important considerations are the individual employee and how he or she relates to others, both as individuals and groups within the organization. From this standpoint, most analyses are performed on the individual or group level.

There are many ways to view organizations, so researchers, professors, and students need some structure and guidance to aid discussions on the topic. Organization theory offers a structured way to talk about the organization as a unit and the subunits, groups, and individuals who work within an organization. Organizations and the people who work in them are the focus of study in organization theory.

Organizational commitment has to do with how much employees identify with and are involved with the company they work for, as well as how hard they are willing to work for the organization. Many factors affect such commitment, including whether an employee accepts and endorses the company values and goals, how willing he or she is to exert extra effort on the company’s behalf, and whether he/she has a strong desire to remain affiliated with the organization.

See CHAIN-OF-COMMAND PRINCIPLE.

An option is the right to select a particular action among choices. In business the term most often refers to “option contracts” to buy or sell stock, called STOCK OPTIONS. Options are also referred to as derivative or contingent claims, because the option instrument is derived from or contingent on the value of the asset with which they are associated.