Podcast
Questions and Answers
Which factor influences transaction costs by making verification difficult?
Which factor influences transaction costs by making verification difficult?
- Opportunism
- Asset specificity
- Uncertainty
- Frequency (correct)
What type of asset specificity refers to investments specific to the transaction?
What type of asset specificity refers to investments specific to the transaction?
- Human
- Dedicated (correct)
- Physical
- Site specificity
Which assumption of Transaction Cost Economics (TCE) states that it's not possible to foresee and make provisions for all potential contingencies?
Which assumption of Transaction Cost Economics (TCE) states that it's not possible to foresee and make provisions for all potential contingencies?
- Opportunism
- Frequency
- Uncertainty
- Bounded rationality (correct)
What does opportunism in TCE refer to?
What does opportunism in TCE refer to?
Which determinant of transaction costs involves investments with lower value in their second-best use?
Which determinant of transaction costs involves investments with lower value in their second-best use?
What is the main focus of strategic management?
What is the main focus of strategic management?
According to Michael Porter, what is one of the principles underlying strategy?
According to Michael Porter, what is one of the principles underlying strategy?
What does corporate strategy primarily aim to answer?
What does corporate strategy primarily aim to answer?
What does strategic management involve after specifying the organization's objectives?
What does strategic management involve after specifying the organization's objectives?
What has been developed to assist in strategic decision-making in complex environments and competitive dynamics?
What has been developed to assist in strategic decision-making in complex environments and competitive dynamics?
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