An organization is having 500 employees. All the employees are having same rank, same position, same authority and same perks.

IT WILL BE SHEEP HERD,,, A LION WILL COME AND EAT THEM ONE BY ONE............

A leadership chain and different motivational perks should be there in business concern asper employees experience and knowledge

I agree with the answer of Mr. Irphan Ghani. 

It seems to be flat structured and the nature and type of the business may be demanding so.

A crow(d) House

A flat organization (also known as horizontal organization or delayering) is an organization that has an organizational structure with few or no levels of middle management between staff and executives. The idea is that well-trained workers will be more productive when they are more directly involved in the decision making process, rather than closely supervised by many layers of management.

 

Flat organizations have relatively few--sometimes just one--layers of management. Unlike the tall structures common to many businesses, flat structures have a short chain of command and a wide span of managerial control. Span of control, originally a military term, refers to the number of subordinates that directly report to that manager. In a flat structure, more subordinates report to a single manager. Due to the reduced number of management layers, small organizations get the most out of flat structures.

A very strange structure I would say... even in a flat organization not all people will have the same authority! and500 employees all the same rank and the same authority means this place is a mess.  No organization survives without levels of authority and supervision and without leadership.

no.it will not survive in the business environment .

Who is leading?

 It will bel ike : too many cooks will spoil the broth. Without leader team will go nowhere.

No need to add more after the answers of Mr. Tihab and Zafar