When Decision-Making Authority Resides at the Top of the Organizational

question 90

Multiple Choice

When decision-making authority resides at the top of the organizational chart as opposed to being distributed throughout lower levels, an organization has a _____ decision making structure.

• A)divisional
• B)democratic
• C)centralized
• D)collective
• E)distributed

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Definitions:

Oral Auctions

Auctions where items or services are offered to the highest bidder through spoken offers.

Sealed Bid Auctions

Auctions where bidders submit their bids in secret and the highest bidder wins, often used to ensure fair and unbiased bidding processes.

Risk Averse

A characteristic of individuals or entities that prefer to avoid risk, leading them to choose safer, more predictable options or investments.

Expected Value

The calculated average of all possible values for a random variable, weighted by their probabilities of occurrence.