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List and describe the formal characteristics of bureaucratic organizations as set forth by Max Weber.Compare the formal characteristics of bureaucracy with the major shortcomings of contemporary bureaucracies.Give specific examples from your own experience.
Erosion
In finance, erosion refers to the gradual reduction of assets, earnings, or investment value over time.
Future Cash Flows
Predicted income or expenses expected to be generated or incurred in the future.
Present Value
Present value is a financial concept that calculates the current worth of a future sum of money or stream of cash flows given a specified rate of return.
Effective Annual Costs
The true cost of borrowing on an annual basis, including any fees or additional costs associated with the transaction.
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