Delegation of authority refers to the process of assigning responsibility and authority to others within an organization. It is a fundamental management function that enables managers to distribute workload and ensures that tasks are performed efficiently.
Key aspects of delegation:
1. {Responsibility:} The manager assigns tasks and ensures that subordinates are accountable for their completion.
2. {Authority:} The manager gives the necessary authority to subordinates to make decisions and take actions within their delegated tasks.
3. {Accountability:} While responsibility is delegated, the manager remains accountable for the overall outcomes of the tasks.
Conclusion:
Delegation is essential for increasing efficiency, allowing managers to focus on higher-level tasks, and developing the capabilities of subordinates.
Final Answer:
\[
\boxed{\text{Delegation of authority is the process of assigning responsibility and authority to others.}}
\]