Friction and Frictionless trade: Difference between pages

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1. ''Transaction processing''.
1.  


In transaction processing, friction is any delay or expense relating to a transaction.
Strictly, frictionless trade is the theoretically complete absence of all costs, delay or restrictions on market activity.


The associated costs are known as 'friction costs'.


Friction costs include time and distraction, as well as direct transaction charges.
2. ''International trade - European Union - Brexit.''


More loosely, frictionless international trade is generally understood to mean the absence of border checks.


2.
The degree of friction often being crudely measured by the length of time it takes consignments of physical goods to cross the border.
 
Any delay, inefficiency, or unnecessary expense in any process.
 
 
3. ''Behavioural skills''.
 
Disagreement and potential unfriendliness resulting from different opinions or perspectives.
 
Characteristic behaviours of the Belbin teamworker role include listening and averting friction.
 
 
:<span style="color:#4B0082">'''''Natural biases and friction in credit rating presentations'''''</span>
 
:"Internal consent about what a realistic rating outcome may look like is important for achieving alignment among senior management team members as they engage with the rating analysts.
 
:Natural biases exist with different parties and this can lead to friction during the preparation process. CEOs tend to focus on value creation through (debt-funded) growth, while CFOs prefer a conservative approach to deploying the balance sheet for growth initiatives.
 
:It is imperative to find alignment about the pace and magnitude of strategic developments, as well as the funding approach, before presenting the issuer credit story to the rating analysts."
 
:''Credit ratings: helping supply to meet demand. The Treasurer's Handbook.''




== See also ==
== See also ==
* [[Behavioural skills]]
* [[Brexit]]
* [[CEO]]
* [[Customs union]]
* [[CFO]]
* [[European Union]]
* [[Cognitive bias]]
* [[Friction]]
* [[Credit ratings: helping supply to meet demand]]
* [[Frictionless trade]]
* [[Hysteresis]]
* [[Hysteresis]]
* [[Payments and payment systems]]
* [[International trade]]
* [[Ratings]]
* [[Make UK]]
* [[Straight-through processing]]
* [[Teamworker]]
* [[Shareholder value]]


[[Category:Working_effectively_with_others]]
[[Category:Accounting,_tax_and_regulation]]
[[Category:Cash_management]]
[[Category:The_business_context]]

Revision as of 16:58, 16 December 2020

1.

Strictly, frictionless trade is the theoretically complete absence of all costs, delay or restrictions on market activity.


2. International trade - European Union - Brexit.

More loosely, frictionless international trade is generally understood to mean the absence of border checks.

The degree of friction often being crudely measured by the length of time it takes consignments of physical goods to cross the border.


See also