Examlex
Economic risk refers to the
Centralization
The process of concentrating control and decision-making authority in a central organization, location, or group of individuals.
Formalization
Pertains to the extent to which rules, procedures, instructions, and communications are written down and standardized within an organization.
Specialization
Specialization is the process of focusing on and becoming an expert in a particular subject or skill.
Standardization
The process of implementing and developing technical standards to ensure consistency, reliability, and safety in products, services, or systems.
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