Examlex
The presence of negative externalities that are incorporated in price, results in misallocation of resources.
Job Specialization
involves the process of focusing an employee's responsibilities on a specific set of tasks, allowing for increased efficiency and expertise in those tasks.
Coordinating Mechanisms
Tools, processes, or structures used to align tasks, activities, and communication within an organization to ensure effective functioning.
Standardization
The process of establishing and applying uniform criteria, methods, processes, or practices across different areas or industries.
Organic Structure
A flexible management approach characterized by decentralized authority, fewer formal procedures, and open communication channels.
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