Business, Management and Accounting
4 years ago

Cutting transaction costs boosts global competitiveness and economic growth!

Advances in business and management
Transaction management: Value creation by reducing transaction costs
F.A.G. den Butter

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The article discusses how reducing transaction costs is crucial for businesses and countries to stay competitive in a globalized economy. By applying modern economic theories, transaction management helps organizations create value by keeping these costs low. This approach is based on theories like transaction costs economics, institutional economics, industrial organization, and international trade. The key takeaway is that effectively managing transactions can significantly impact a firm's or country's competitive position.