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At the top were the partners, who functioned similar to a board of directors. Most partners were part of the Medici family. Below the partners was the central office, where general managers oversaw operations. The third level of the organization was the operating division. The three divisions interacted to some degree, but financially and structurally they were independent, answering only to the head of the firm. Cosimo maintained controls and coordination of the various subsidiaries through partnership agreements which clearly detailed the management of activities, functions and decision making ability of the managing partners...
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