authority

authority definition - business

authority

  1. A government organization created to perform a certain function. A state or region, for example, may establish a public power authority to provide low-cost electricity to people living in a certain geographical area.
  2. A person, group, or organization that has the power to issue orders or make decisions.
  3. The power to make decisions or issue orders. For example, a firm's vice president for marketing has the authority to change advertising agencies.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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