when one person has the power and authority to make all decisions for the firm it is known as an _______ type of management.
a. management by committee
b. autocratic
c. management by stakeholders
d. executive committee
im confused between A and D
No.
Please check the definitions of your answer choices.
its A
A committee is one person????
To determine the correct answer between option A and option D, let's understand the meaning of each term:
A. Management by Committee: This refers to a management approach where decisions are made collectively by a group or committee of individuals within the organization. It involves discussion, collaboration, and consensus-building among multiple people before making decisions.
D. Executive Committee: An executive committee is a group of high-level executives or top managers within an organization. It is responsible for making important strategic decisions and overseeing the overall management of the organization.
Now, let's analyze the given question: When one person has the power and authority to make all decisions for the firm, it is known as what type of management?
Based on this definition, it is clear that the decision-making authority lies with one person, rather than a committee or group. Therefore, the correct answer is:
B. Autocratic
Autocratic management style is characterized by a concentration of power in one individual, who holds absolute authority and makes decisions without seeking input from others. In an autocratic managerial approach, the decision-making power typically rests solely with the leader or manager, without considering the opinions or suggestions of stakeholders or employees.
So, the correct answer is option B - Autocratic management.