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Explain What Is Meant by Authority

question 7

Essay

Explain what is meant by authority. How can authority be centralized? How can it be decentralized? Describe the circumstances under which centralization versus decentralization would be more desirable. If you were a manager in a large company,what particular challenge might you expect to face with regard to the use of decentralization?


Definitions:

Consumer Goods

Products that are purchased and used by individuals for personal or household consumption.

Production Possibility Frontier

The Production Possibility Frontier is a curve depicting all maximum output possibilities for two goods, given a set of inputs.

Production Possibility Frontier

A curve depicting all maximum output possibilities for two or more goods, given a set of inputs.

Capital Stock

Refers to the total amount of physical assets owned by a company that are used in producing goods or services.

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