Organizational Culture Is a System of Shared Assumptions,values and Beliefs

question 41

True/False

Organizational culture is a system of shared assumptions,values and beliefs indicating what are appropriate and inappropriate behaviors within an organization.

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Definitions:

Coase Theorem

An economic theory stating that if trade in an externality is possible and there are no transaction costs, bargaining will lead to an efficient outcome regardless of the initial allocation of property rights.

Externalities

Economic side effects or consequences that affect uninvolved third parties; can be positive or negative.

External Costs

Costs generated by a production or consumption activity that are not borne by the producer or consumer but by society at large.

Transaction Costs

Costs associated with the process of buying and selling, including search and information costs, bargaining costs, and enforcement costs.