GENERAL KNOWLEDGE

Detailed explanation-1: -Decentralized decision-making is any process where the decision-making authority is distributed throughout a larger group. It also connotes a higher authority given to lower level functionaries, executives, and workers. This can be in any organization of any size, from a governmental authority to a corporation.

Detailed explanation-2: -In general, if a type of decision is frequently made and time critical, it is best to be made at a decentralized level. If it is infrequent, not time critical, and involves economies of scale, it is a good fit for centralized decision-making.

Detailed explanation-3: -A company with a decentralized organizational structure is one where mid-level and lower-level managers make most of the decisions, rather than the senior management team. Sometimes, management even involves team members in the decision-making process.

Detailed explanation-4: -Decentralization in business is when daily operations and decision-making power are delegated by top management to middle-and lower-level managers-and sometimes even team members.

Detailed explanation-5: -Decentralized decision making means just that-empowering employees to make more strategic and operational decisions on their own without managerial hand-holding.