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Competition is a matter of trade-off between different types of business. Oligopoly: there are very few businesses selling a product in a given market. Authority - the right to make decisions and carry out tasks Span of control - the number of people a superior is responsible for Delegation - authority to carry out actions passed from superior to subordinate Chain of Command - the relationship between different levels of authority in the business.
Competition is a matter of trade-off between different types of business. Oligopoly: there are very few businesses selling a product in a given market. Authority - the right to make decision…