When a lecturer begins employment they will ordinarily be placed on probation for perhaps three years. This is an example of using _____ to reduce transaction costs.

Question

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Placing a lecturer on probation is an example of using a managerial structure to reduce transaction costs by monitoring and evaluating the lecturer's performance before making a long-term commitment. This approach helps in managing risks and ensuring quality, which are key aspects of a managerial structure in organizational settings.

When a Lecturer Begins Employment They Will Ordinarily Be Placed