The Freedom for Managers at Lower Levels of the Organisation

question 94

True/False

The freedom for managers at lower levels of the organisation to make decisions is referred to as 'decentralisation'.

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Definitions:

Premium Rate

The price of an insurance premium per unit of coverage, often expressed in terms of monthly or annual cost.

Premium Rate

The price of an insurance policy, typically quoted as a cost per hundred or thousand dollars of coverage.

Annual Premium

Annual Premium refers to the amount paid yearly for an insurance policy to keep it active and provide coverage.

Short-rate Refund

A refund of a portion of a premium on an insurance policy, calculated using a method that is less than pro-rata, often involving a penalty for early cancellation.