A firm is noticing that 10% of its freelance contacts are not being completed on time.They suspect this is because there are no consequences for lateness for the freelancers,but it costs the firm money.The firm decides to implement a penalty for lateness,and guidelines for dealing with contract violations.The firm is:

Question

Quizplus · Accepted Answer

The firm is attempting to reduce transaction costs through institutional frameworks by implementing penalties and guidelines to ensure timely completion of contracts, thus minimizing the costs associated with delays.

A Firm Is Noticing That 10% of Its Freelance Contacts