International Journal of Social Science & Economic Research
Submit Paper

Title:
A NEW INDUSTRIAL ECONOMICS: EXPLORING METHODS OF TRANSACTION COST REDUCTION IN MODERN INDUSTRIES

Authors:
Armaan Lakhani

|| ||

Armaan Lakhani
Vasant Valley School, New Delhi

MLA 8
Lakhani, Armaan. "A NEW INDUSTRIAL ECONOMICS: EXPLORING METHODS OF TRANSACTION COST REDUCTION IN MODERN INDUSTRIES." Int. j. of Social Science and Economic Research, vol. 5, no. 7, July 2020, pp. 1889-1896, ijsser.org/more2020.php?id=129. Accessed July 2020.
APA 6
Lakhani, A. (2020, July). A NEW INDUSTRIAL ECONOMICS: EXPLORING METHODS OF TRANSACTION COST REDUCTION IN MODERN INDUSTRIES. Int. j. of Social Science and Economic Research, 5(7), 1889-1896. Retrieved from ijsser.org/more2020.php?id=129
Chicago
Lakhani, Armaan. "A NEW INDUSTRIAL ECONOMICS: EXPLORING METHODS OF TRANSACTION COST REDUCTION IN MODERN INDUSTRIES." Int. j. of Social Science and Economic Research 5, no. 7 (July 2020), 1889-1896. Accessed July, 2020. ijsser.org/more2020.php?id=129.

References
[1]. Biswas, S, (5 October 2012), 'Indian knowledge workers say document-related issues at work impact productivity: Adobe survey', Economic Times, https://economictimes.indiatimes.com/jobs/indian-knowledge-workers-say-documentrelated-issues-at-work-impact-productivity-adobesurvey/articleshow/16686615.cms?utm_source=contentofinterest&utm_medium=text&ut m_campaign=cppst
[2]. Change Recruitment Group, (2017), ‘How Will the Fourth Industrial Revolution Impact the Future of Work?’, https://www.changerecruitmentgroup.com/knowledge-centre/howwill-the-fourth-industrial-revolution-impact-the-future-of-work
[3]. Drucker, PF, (1999), ‘Knowledge-Worker Productivity: The Biggest Challenge’, California Review of Management, Vol.41, No.2, Reprint Series
[4]. Economic Times, (26 May 2018), 'Three things to boost the productivity of your knowledge workforce', https://economictimes.indiatimes.com/small-biz/hrleadership/leadership/three-things-to-boost-the-productivity-of-your-knowledgeworkforce/articleshow/64330553.cms?utm_source=contentofinterest&utm_medium=text &utm_campaign=cppst
[5]. Matson, E and Prusak, L, (2010), 'Boosting the productivity of knowledge workers', McKinsey Quarterly, https://www.mckinsey.com/business-functions/organization/ourinsights/boosting-the-productivity-of-knowledge-workers#
[6]. Mohanta, GC, (2006), 'Strategies for Improving Productivity Of Knowledge Workers - An Overview', Strength Based Strategies, http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.471.8385&rep=rep1&type=pdf
[7]. Moon, M, (2009), 'Knowledge Worker Productivity', Journal of Digital Asset Management, Vol.5, 178-180
[8]. Morley, I, (2020), 'Measuring knowledge worker productivity is situational', Serraview, https://serraview.com/how-do-you-measure-knowledge-worker-productivity/
[9]. Ramirez, Y and Nembhard, D, (2004), 'Measuring knowledge worker productivity: A taxonomy', Journal of Intellectual Capital, https://www.emerald.com/insight/content/doi/10.1108/14691930410567040/full/html
[10]. Thomas, B, and Baron, J, (1994), 'Evaluating Knowledge Worker Productivity: Literature Review', USACERL Interim Report, https://apps.dtic.mil/dtic/tr/fulltext/u2/a283866.pdf
[11]. Workplace Performance Innovation Network (Pin), (n.d), 'The 6 Factors of Knowledge Worker Productivity that Change Everything', https://www.advanced-workplace.com/wpcontent/uploads/2015/04/6_Factors_Paper.pdf
[12]. YourStory Team, (6 October 2012), 'Productivity, A Huge Challenge for Indian Knowledge Workers- 52% Spend 1/4th of Time Managing Documents [Report]', https://yourstory.com/2012/10/productivity-a-huge-challenge-for-indian-knowledgeworkers-52-spend-14th-of-time-managing-documents-report
[13]. Zhu, J and Shibalayeva, S, (2017), 'How Can You Measure the Productivity of Knowledge Workers?', Cornell University ILR School, https://digitalcommons.ilr.cornell.edu/cgi/viewcontent.cgi?article=1156&context=student

Abstract:
With the advent of the 4th industrial revolution, the employment of knowledge workers will constitute a majority of the labour force, as manual jobs are replaced with automation and artificial intelligence. Given the arrival of this fundamental shift in our economy, measuring the productivity of knowledge workers will become the most important point of leverage for businesses, organisations, and indeed, countries. Currently, there exists no universal measure for knowledge worker productivity. Producing such a measure is also difficult, given the situational, cultural and unique nature of knowledge work in different industries and different countries. This paper aims to provide an overview of the issues and strategies that currently underlie the measurement of knowledge worker productivity, and the most important strategies that could be developed in the Indian context. The paper aims to chart a way forward in the field and propose new arenas for research and strategic development.

IJSSER is Member of