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The most important element in FICO credit scoring is your payment history.
Formal Rules
Officially established guidelines and procedures that are designed to govern behavior, processes, or operations within an organization.
Hierarchical System
A hierarchical system is an organizational structure where entities are ranked according to levels of authority, from highest to lowest.
Bureaucracy
An organizational structure characterized by standardized procedures, hierarchical divisions, and a clear set of rules and regulations to manage large organizations.
Network Structures
The arrangement and interconnection of elements within a network, defining how they communicate and cooperate.
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