Final answer:
An organization chart is a visual representation of the formal reporting relationships within a firm, indicating the company's hierarchy and reporting structure.
Step-by-step explanation:
A visual representation of the formal reporting relationships within a firm is called an organization chart. This chart serves as a tool for understanding the hierarchy of a company, showing who does what, where each person fits into the organization, and who reports to whom. It can be extremely beneficial for employees to increase their company knowledge and understand the company's structure, especially when acclimating to a new workplace.
When considering different types of graphs, three common ones are:
- Line graphs: Appropriate for showing the relationship between two variables over a period.
- Pie charts: Ideal for showing how a total amount is divided into segments, with each slice of the pie representing a percentage of the whole.
- Bar graphs: Useful for showing comparisons among categories with the height of the bars representing data values.