Transaction Cost Theory and Transaction Costs Sources | Introduction To Organisations | MeanThat

[@kathiahadjbachir9953]

actually it helps a lot, I m a master student and I need your videos to improve my knowledge, you are better than my real teacher , Thank you From Algeria

[@conjetapierre8755]

When I started watching I got a clear picture of what the theory is all about. Thank you you are the best

[@912olo]

Thank you for your lesson. It was simple and you are a very good communicator, teacher of a complex topic.

[@emmakumwenda1570]

very helpful and clear thank you

[@studentscrib07325]

Thank you so much now I can teach my students well

[@rehana-st5jd]

thank you..this aided me..I love how you used colour codes..quite helpful..

[@lilyrutstrom3439]

Wow! Transaction cost theory is well elaborated. Wonderful lesson...

[@marieclaudettegarella2038]

Thank you very much sir, it was clear and helpful

[@asanadara7741]

Very nice explanation, thanks a lot!

[@noubaddi8567]

Great and clear explanation

[@mingming8628]

Very understandable and helpful. Many thanks

[@soundofbeers]

Great lesson! Your examples made it crystal clear.

[@sengacadeau4547]

wonderful lesson

[@binuramuhandiramge1747]

Great video Thank you

[@sengacadeau4547]

i wanted to ask this question explain the transaction cost theory and its application to the agribusiness marketing

[@shafiqsaidee]

Outstanding! well explained... thanks

[@Lyllow]

Thank you. Very clear.

[@ValleskrasseVideos]

You're great, thanks a lot!

[@hugoigartua1227]

THANK YOU! That was really helpful

[@Mohamedsafiya]

So clear, thanks a lot

[@tiyaradayanal2080]

What is the double entry for the transaction cost?

[@alicelee9886]

Wonderful lesson! Thanks for your help!

[@ashneelram837]

Is this theory based on business to business transactions or business to customers. And if I had to relate this to the tourism industry which two parties(firms, customers etc) would be involved.

[@fa0isa2l]

I think it could be applied on both levels B2B and B2C. In the tourism industry, it could be the case local tour company provides tours for tourists or it could be the same tour company contract with a hotel chain to provide the accommodations for its clients. I hope I answered your question

[@shichengxu7390]

i love you man

[@federicodicocco4857]

I'm studying this theory in the contest of psychology of organisation. and my book talks about how to choose a strategy and so it considers the bounded rationality and opportunism and then it talks about williamson's three aspects of transaction (uncertainly, frequency of transactions and spcificity of resources). but i dont' understand how those things are supposed to guide my decision of what strategy is beeter to use to mimise the costs.

[@meanthat]

unfortunately I did not cover transaction cost theory deeper in this course so I cannot give you advise, sorry :)

[@Shauracool123]

Well, it basically depends on asset specificity. If asset is quite specific only to your need and your supplier knows it then you are quite dependent on that supplier. This may lead to opportunism. Meaning supplier may try to take your advantage as you know that the asset or serivce they provide is quite specific to their need and no other can supply it. So, in that case you try to produce it in house as that way you will not have to rely on someone else who has their own interest at heart. That's why, you will notice that when an industry is at its starting stage then companies are vertically integrated. As every component and service is not known to everyone and quite specific. So a company cannot rely on outside supplier but with time everything becomes standard and you can easily get a service or that component from the market. Therefore, industry become horizantally integrated and for each part of value chain there is different company. For example in PC, in its initial days companies were vertically integrated like IBM. However as times passed we have different companies for each part. Different one for chip (Intel, Nvdia), different one for assembling parts (Dell, HP), different one for providing software (Windows). This shows that with time the assets become standard and does not remain specific to just one customer or supplier and we do not need to produce it within firm. Even outsourcing is done for same reason. As it is for services which are quite basic and easy. There is nothing much specific to you. Hence you can rely on outside. Simple rule: If asset is specific to your need: Produce it inhouse. If asset is standard and easily available in the market. Then buy it from market.

[@SpaceGodbr]

Guys, in which study/book this video is based on?? Thanks!!

[@thres34]

Amazing, thanks

[@RashadHAlKhmisy]

Thanks a lot

[@joserivers1306]

Awesome!!

[@bilalhassan8256]

Tnk u Sir

[@Vision267]

So what is the solution

[@thejas007]

thank you.

[@merisugljanin3944]

perfect

[@munenegrant1704]

I would like to know how it influences lender borrower relationship... I appreciate your work though.

[@ulduzbinyatova1985]

Thank you very much

[@mohamedturanardan8871]

Bets ever. May Allah gives you a hidaya. Ameen

[@cand7e7ack]

constructive feedback here, keep it short. 2 mins in you still haven't explained the video.

[@meanthat]

+cand7e7ack Hi, thanks a lot for that! :) yes I keep that in mind recently and try to push on making it shorter. However in some topics that I know students have issues understanding I take a very slow start. Thanks again :)