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The topicality of the paper is predetermined by the importance of competitiveness assessment and development for most modern companies, operating on the global arena in the era of globalization, business internalization and the growing opportunities of global sourcing. The term “competitiveness” can appear ambiguous, as competitive abilities of a product on one market can be outperformed on other markets. This trend pushes the companies to the development of more multifactorial strategic approaches in order to...

Modern institutional theory demonstrates astute attitude to studying transactional costs. The key explanation of transactional costs will include the costs, which the economic entity will bear while complying with the conditions of economic exchange. This is one of the guiding reasons why institutional theory of economics is often referred to as the economic theory of transactional costs. The real volume of transactional costs in the Global economy is getting increasingly high. Economic entities are facing the nec...