Siegfried answered...

To make the administration of this world-wide church possible, the church is organized into geographical regions and sub-regions. The most basic administrative unit is called the "ward". The wards in the church vary in size but are comprised of a geographical area with anywhere from 300 to 700 members. The ward is presided by a bishop. A group of five to twelve wards are combined to form a "stake". A stake is presided by a stake president.
In regions of the world where there is a lesser concentration of members, "branches" are formed. These branches are equivalent to wards but usually have less members. A branch is presided by a branch president.
This organization makes it possible for 14 million members to each have local leaders that can provide guidance, teaching, and administering of the sacred ordinances of the gospel