Although unknown to most managers, at least until his recent recognition of the Nobel Committee, the Economics Prize, Oliver Williamson has been a great influence on the theory and practice of management. There are many organizations and strategy issues, where his research is very important. Williamson spent most of his career trying to figure out how things should be organized to improve efficiency, minimize risk and managed contractual achieve profitability. He developed the transaction cost economics as a framework to assist managers in making important strategic decisions. "Hide
by David J. Teece Source: California Management Review 11 pages. Publication Date: 01 February 2010. Prod. #: CMR455-PDF-ENG
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