When Decision-Making in an Organization Is Made the Responsibility of Top

question 34

Multiple Choice

When decision-making in an organization is made the responsibility of top executives,the organization is said to be:

• A)top-heavy.
• B)centralized.
• C)formalized.
• D)regimented.

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Definitions:

Rights Vested

Refers to rights that are securely granted to an individual or entity, and cannot be revoked or amended without consent.

Modify or Rescind

To change, alter, or revoke an agreement or contract either partially or completely.

Incidental Beneficiary

A third party who unintentionally benefits from a contract but has no legal right to enforce the contract terms.

Intended Beneficiary

A person for whom a contract is specifically made, who has the right to enforce the terms of the contract, even though they are not a party to it.