Matrix Organization

Matrix Organization
Matrix organization involves superimposing a group or interdisciplinary team of project specialists, such as scientific and engineering personnel, onto a functional organizational design. Members in a matrix organization hold dual allegiance, both to the project they are assigned and their original departmental hierarchy.
Organizational Structure
Organizational structure is the systematic way responsibility and authority are apportioned among the members of an organization. This concept is crucial for ensuring effective coordination and achieving organizational goals efficiently. Common types of organizational structure include functional organization, matrix organization, and line organization.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.