Centralization (noun)

The process of bringing things or power under central control or management.

Origin:

From the late 17th century. from centralize, from french centraliser, from medieval latin centralizare, from centralis ("central") + -izare (frequentative suffix). .

Examples:

1. The centralization of the company's operations has improved efficiency and reduced costs.
2. Centralization of decision-making authority in the government can lead to a concentration of power.
3. Many companies are moving away from centralization towards a more decentralized structure.
4. The centralization of the world's wealth has led to income inequality.
5. Centralization of power can result in decreased innovation and stifled creativity.