Authority
Authority (noun) /ɔːˈθɒr.ɪ.ti/ US /əˈθɔːr.ɪ.ţi/
the right or power to give commands or enforce rules – power – influence – someone in authority – source of reliable information, weight, confidence
Only the CEO of the company has the authority to formulate new policies.
Noun: authoritarian
Noun: authoritarianism