What do you mean by the terms centralisation and decentralisation? What are the advantages of decentralisation? Distinguish between delegation and decentralisation.

Centralization and decentralization are two organizational structures that determine how decision-making authority and power are distributed within a company.

Centralization refers to the concentration of decision-making authority at the top levels of management within an organization. In a centralized structure, key decisions are made by a small group of top executives or a single individual. Lower-level employees have limited autonomy and authority to make decisions, and most decisions must be approved by higher-level managers. This structure is common in hierarchical organizations where there is a clear chain of command and strict control over operations.

On the other hand, decentralization involves the dispersal of decision-making authority throughout the organization. In a decentralized structure, decision-making ______ ______ _______ ___ _______ ______ _____.
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