What is the the advantage and disadvantage of formal fininical institution
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Security: A formal organization is more established and the entity of the company is not dependent on individual losses. So working in such an organization provides secured financial support to the employees and the employees working here is more devoted to work.
Promotion is slow but steady: In a formal organization the promotion may not be rapid due to a chain of command but with certain seniority, in the organization with sufficient performance personnel is sure of promotion.
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