The authors of the article systematize basic definitions of management in view of the principles of system approach to identification of concepts, terminological continuity, and internal consistency. The theory of value and labor relations from antique to modern theories was studied; the authors' interpretation of the labor market, labor, and the price of labor was given.

The purpose of this work is to develop theoretical and scientific & methodological provisions in the sphere of institutional management of industrial enterprises; the main task of the research is to determine and classify internal transaction costs of the process of management of industrial enterprise. The article offers the hypothesis that transfer of institutional theoretical concepts to micro-level -in particular, to the level of management -of industrial enterprise, with further specification and development, will allow perfecting the process of management and increasing its effectiveness. The research showed that there is no generally recognized classification of transaction expenses. As a result of the research, the authors offer classification of internal transaction expenses that emerge during the process of managerial activities. The given classification allows managers to see which transaction expenses are related to implementation of managerial functions, provide basis for development of the system of evaluations of internal transaction expenses of industrial company which allows simplifying evaluation of effectiveness of managers' work and use of specific managerial tools, and allows managers to allocate the