Coase concept of transaction costs and the hypothesis that organizations tend to expand as long as internal transaction costs are less than external transaction costs for the same kind of exchange is about the integration vs. outsourcing paradigm.
Understanding the full transaction costs, i.e. the searching, bargaining and enforcement costs is a prerequisite for decisions about in-house production & service provision vs. outsourcing.
Value creation models in Web 3.0 with decentralized Blockchain technology will contrast to the Web 2.0 centralized big data aggregation & diffusion model.
The holistic SIPOC methodology is empowering professionals to take control of their vital processes and design future processes.
Source / Supplier > Input > PROCESS > Output > Destination / Customer
SIPOC both describes and enables our new process world.