Alyned Thinking

Today I would like to kick-off on a slightly scholarly note by introducing the concept of transaction costs. The theory was first developed by R.H. Coase in his 1937 paper The Nature of the Firm and further elaborated by O.E. Williamson in The Economics of Organization: The Transaction Cost Approach.

In our lives before Alyne, we spent our days designing, implementing and reviewing security, governance and risk management solutions or companies of many sizes and industries across many different countries.

In some form or other, organisations of all shapes and sizes are already engaged in GRC activities. However, depending on their industry and overall size, they might have different stages of advancement.

In today’s business world depending on the industry, you will come into contact more and more with the term GRC or “Governance Risk Compliance”. In certain circles this has come to be almost a kind of new management philosophy, that fills the whole working day of entire departments.