Centralized Cash Management and Decentralized Cash Management
Centralized cash management: - A pivot location or group of managerial personnel for the planning and decision making or taking activities of the organization is known as Centralization. In this type of organization, all the important rights and powers are in the hands of the top level management.
In earlier times, centralization policy was the most commonly practiced in every organization to retain all the powers in the central location. They have full control over the activities of the middle or low level management. Apart from that personal leadership and coordination can also be seen as well as work can also be distributed easily among workers.
However, due to concentration of authority and responsibility, the subordinate employees’ role in the organization is diminished because all the right vests with the head office.
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