Final answer:
Delegation is the process of assigning managerial authority and responsibility to managers and employees lower in the hierarchy. It involves transferring decision-making power from higher-level managers to lower-level managers or employees. This promotes employee engagement, collaboration, and development of leadership skills.
Step-by-step explanation:
Delegation is the process of assigning managerial authority and responsibility to managers and employees lower in the hierarchy. It involves transferring decision-making power from higher-level managers to lower-level managers or employees.
For example, in a company, the CEO delegates certain tasks and responsibilities to the department heads. The department heads then delegate further tasks to their respective teams or subordinates. This allows for a more efficient distribution of workload and empowers lower-level employees to make decisions within their assigned roles.
Delegation is an important aspect of effective management as it promotes employee engagement, collaboration, and development of leadership skills.