The Relative Authority That Each Manager in the Organization Has

question 102

Multiple Choice

The relative authority that each manager in the organization has, from the CEO down to the lowest-level employees, is called the:

• A) market structure of the organization.
• B) autonomy of the organization.
• C) synergy of the organization.
• D) equity of the organization.
• E) chain of command of the organization.

---

Definitions:

Sealed-bid

A bidding process where all the bids are kept confidential until a designated opening time, preventing bidders from seeing competitors' bids.

Auctions

A public sale process where goods or services are sold to the highest bidder.

Common-value Auction

An auction format where the item for sale is of the same value to all bidders, but the bidders may have different information about the item's actual value.

Oral Auctions

Competitive bidding events where bids are made verbally in real-time, often conducted by an auctioneer.