BUSINESS ADMINISTRATION
PRINCIPLES AND PRACTICE OF MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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management by exception
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decentralization of authority
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delegation of authority
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integration
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informal organization
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Detailed explanation-1: -Centralization. Centralization is the degree to which decision-making authority is concentrated at higher levels in an organization.
Detailed explanation-2: -One of the most widely used measures of productivity is Gross Domestic Product (GDP) per hour worked. This measure captures the use of labour inputs better than just output per employee.
Detailed explanation-3: -virtual network structure the firm subcontracts many or most of its major processes to separate companies and coordinates their activities from a small headquarters organization, sometimes called a modular structure.
Detailed explanation-4: -Top management teams are responsible for developing the strategies that result in an organization’s competitive advantage.