Individual Assignment #21.TCE is a theory that demonstrates the importance of firms, and why transactions directed by managers or based on a hierarchical structure is more successful than transactions dealt within a free market. The total cost of a product consists of the production cost and transaction cost. Firms are more successful at minimizing costs which means higher profit. TCE is involved in project management as both have the same goals, since a successful firm needs management to produce at the lowest costs possible.2.Matrix organizations are structured in a horizontal flow of authority, in addition to the existing vertical flow, where employees are assigned to both
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