And this idea of the value chain was predicated on the recognition that what holds a business together is transaction costs, that in essence you need to coordinate, organizations are more efficient at coordination than markets, very often, and therefore the nature and role and boundaries of the cooperation are defined by transaction costs.
Og denne ide om værdikæden var baseret på erkendelsen, at hvad der holder en virksomhed sammen er transaktionsomkostninger, som du er nødt til at koordinere, organisationer er mere effektive til at koordinere end markeder ofte er, og derfor er organisationers beskaffenhed, rolle og grænser defineret af transaktionsomkostninger.