Examlex
What are the components of the five-forces model of industry structure?
Delegation
The act of assigning responsibility and authority to someone else to carry out specific activities while maintaining accountability.
Authority
The legitimate power given to an individual or organization to make decisions, enforce obedience, and implement policies.
Final Choice
The ultimate decision made after considering all options and outcomes.
Routine Decisions
Decisions that are made frequently, following established policies or procedures with predictable outcomes.
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