Transaction Cost Management: Strategies and Practices for a Global Open Economy (Management for Professionals)

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. This open access book analyzes and describes “transactions” as a model... Front Matter....Pages i-xvii Transaction Cost....Pages 1-44 Transaction Interface: Organization, Process, and System....Pages 45-63 Standard as Interface....Pages 65-95 Module and Interface....Pages 97-126 Coevolution of Markets and Organizations....Pages 127-142 Methodologies for Designing and Managing Interfaces, Modules, Standards, and Processes....Pages 143-189 Transaction Cost in Economics....Pages 191-216 Application Examples of Transaction Cost Measurement and Analysis to Management....Pages 217-238 Logical Thinking/Creative Thinking....Pages 239-253 Innovation and Transaction Cost....Pages 255-262 Back Matter....Pages 263-273