Open AccessSTANDARDIZATION OF PROCESSES TO REDUCE TRANSACTION COSTS
Author(s) -
Vitaliy Staruhin
Publication year - 2021
Language(s) - English
Resource type - Conference proceedings
DOI - 10.26526/conferencearticle_61cc296c441467.36231876
Subject(s) - standardization , transaction cost , database transaction , business process , work (physics) , computer science , process management , order (exchange) , business , risk analysis (engineering) , industrial organization , database , work in process , finance , marketing , engineering , mechanical engineering , operating system
Improving the efficiency of the company's activities by standardizing business processes helps to free up financial, labor and other resources necessary for business. The article formulates the goals of creating standardized business processes and the users of these standards. The types of transaction costs that can be reduced by standardizing the work performed are structured. The article presents the advantages of using standardization of business processes to reduce transaction costs, provides recommendations on the stages of standardization of business processes in order to reduce transaction costs