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Proposes clear theoretical and operational definitions supported by numerous cases and examples
Presents methodologies to design functions to reduce transaction costs such as business processes and capability enhancement programs
Provides tips to business managers that are based on empirical studies to help understand the model and apply it in practice
All organizations, institutions, business processes, markets and strategies have one aim in common: the reduction of transaction costs. This aim is pursued relentlessly in practice, and has been perceived to bring about drastic changes, especially in the recent global market and the cyber economy. This book analyzes and describes “transactions” as a model, on the basis of which organizations, institutions and business processes can be appropriately shaped. It tracks transaction costs to enable a scientific approach instead of a widely used “state-of-the-art” approach, working to bridge the gap between theory and practice.
Content Level »Professional/practitioner
Keywords »Business process - Organization - Standardization - Transaction - Value creation