Explain How Formal and Informal Lines of Authority, Communication Channels

question 41

Essay

Explain how formal and informal lines of authority, communication channels, and power exist in the typical organization. How can you use the informal aspects to you advantage?

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Definitions:

Income Statement

A financial report that shows a company's revenues and expenses over a specific period, culminating in the net income or loss for that period.

Asset

Economic resources owned or controlled by an entity that are expected to produce value.

Liability

Financial obligations or debts a company owes to others.

Owner's Equity

The residual interest in the assets of a business after deducting liabilities, representing the owner's claim on the company's assets.