Economic Approaches to Organizations

en Limba Engleză Paperback – 30 noi 2013

Now in its fifth edition, "Economic Approaches to Organisations" remains one of the few texts to emphasize the importance of economic issues and developments in the study of organisations and management. It explains in a non-technical way different economic approaches such as behavioural theory of the firm, game theory, agency theory, transaction cost economics, economics of strategy and evolutionary approaches. This latest edition is packed with practical examples from real-world companies, helping you to understand how the concepts relate to economic and organizational problems happening in the world today.

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Specificații

ISBN-13: 9780273735298
ISBN-10: 0273735292
Pagini: 437
Ilustrații: illustrations, further reading, notes, references
Dimensiuni: 185 x 241 x 23 mm
Greutate: 0.86 kg
Ediția:5th edition.
Editura: Prentice Hall

Textul de pe ultima copertă

Why do organisations exist?

What is the relationship between markets and organisations?

When does one perform better than the other?

Find the answers in Economic Approaches to Organisations!

Now in its fifth edition, this text remains one of the few texts to emphasize the importance of economic issues and developments in the study of organisations and management.

It explains in a non-technical way different economic approaches such as behavioural theory of the firm, game theory, agency theory, transaction cost economics, economics of strategy and evolutionary approaches. This latest edition is packed with practical examples from real-world companies, helping you to understand how the concepts relate to economic and organisational problems happening in the world today.

New to this edition:

New chapters on business strategy and corporate strategy

Updated with new developments in practice, including new coverage on behavioural finance, financial crisis and private equity.

Over 50 new examples, showing how different economic approaches are applied in business and organisational practice

This is an ideal textbook for a course on Organisation and Management from an economic perspective. The text can also be used as a supplement to a larger text on Organisation and Management or Strategic Management. Economics students will benefit from a concise introduction to a field that is related, but all too often unexplored.

Sytse Douma is professor of Business Administration at Tilburg University.

Hein Schreuder was Executive Vice President of Corporate Strategy and Acquisitions at Royal DSM N.V. until 2012. He is a honorary professor of Business Economics at Maastricht University and Board member of the Vlerick Business School in Belgium.

Notă biografică

Sytse Douma is professor of business administration at Tilburg University.
Hein Schreuder was executive vice president of corporate strategy and acquistitions at Royal DSM N.V. until 2012. He is honorary professor of business economics at Maastricht University and board member of the Vlerick Business School in Belgium.

Cuprins

Preface xi Acknowledgements xv

Part I Foundations 1

Markets and organizations 3

1.1 The economic problem 3
1.2 The division of labour 5
1.3 Specialization 7
1.4 Coordination 9
1.5 Markets and organizations 11
1.6 Information 14
1.7 The environment and institutions 16
1.8 Historical perspective 22
1.9 Summary: the conceptual framework of this book 24
1.10 Outline of the book 25
Questions 26
Notes 26

Markets 27

2.1 Introduction 27
2.2 Market interaction: analysis of demand and supply 28
2.3 Decision-making by consumers 29
2.4 Decision-making by producers 31
2.5 Market coordination 32
2.6 The paradox of profits 33
2.7 Competitive markets 33
2.8 The main assumptions underlying standard microeconomic theory 34
2.9 Summary: how according to standard microeconomic theory decisions are coordinated by the market 36
Questions 37

Organizations 38

3.1 The world of organizations 38
3.2 Organizational coordination 39
3.3 Types of organizations 44
3.4 Organizational markets 49
3.5 Organized markets 50
3.6 The rise of the Internet and the digitization of organizations 53
3.7 Digital platforms: a new coordination mechanism 56
3.8 The Platform Organization 59
3.9 Summary: how organizations achieve coordination 62
Questions 64
Notes 64

Information 66

4.1 Coordination and information 66
4.2 Hidden information 71
4.3 Hidden action 78
4.4 The value of information 83
4.5 Information as an economic good 86
4.6 Summary: information problems for markets and organizations 88
Questions 90
Notes 91

Game theory 92

5.1 Introduction 92
5.2 The prisoner's dilemma 93
5.3 Coordination games 97
5.4 The entry game 99
5.5 The iterated prisoner's dilemma 103
5.6 Auctions 105
5.7 Evolutionary game theory 111
5.8 Summary: insights from game theory 116
Questions 118

6 Econs and Humans 119

6.1 Introduction 119
6.2 The social domain versus the economic domain 120
6.3 Economic, social and moral man: bounds on self-interest 121
6.4 Bounds on rationality 124
6.5 Prospect theory 127
6.6 Summary: behavioural economics 130
Questions 131

Part II Economic Approaches 133

Behavioural theory of the firm 135

7.1 Introduction 135
7.2 The firm as a coalition of participants 135
7.3 Organizational goals 139
7.4 Organizational expectations 142
7.5 Organizational choice 142
7.6 From bounded rationality to behavioural economics 145
7.7 Summary: goals and decision-making within the firm in behavioural theory 150
Questions 152
Notes 154

Agency theory 155

8.1 Introduction 155
8.2 Separation of ownership and control 156
8.3 Managerial behaviour and ownership structure 159
8.4 Entrepreneurial firms and team production 165
8.5 The firm as a nexus of contracts 167
8.6 Theory of principal and agent 169
8.7 Applying agency theory 178
8.8 Summary: agency relations between owners, managers and employees 182
Questions 184
Notes 186

Transaction cost economics 187

9.1 Introduction 187
9.2 Behavioural assumptions: bounded rationality and opportunism 189
9.3 Dimensions of transactions 195
9.4 Peer groups 200
9.5 Simple hierarchies 202
9.6 Multistage hierarchies: U-form and M-form enterprises 204
9.7 Organizational markets 205
9.8 Digitization and transaction costs 208
9.9 Markets and organizations: are these all there is? 211
9.10 Governance in a three-level schema 223
9.11 Summary: effect of transaction costs on choosing between markets and organizations and organizational forms 225
Questions 227
Notes 228

Economic Contributions to business/competitive strategy 229

10.1 Introduction 229
10.2 Industry analysis 232
10.3 Competitor analysis 236
10.4 Competitive strategy 239
10.5 Resource-based view of the firm 240
10.6 Dynamic capabilities 244
10.7 Move and counter move 248
10.8Summary: how economic analysis can contribute to the formulation of competitive strategies 259
Questions 259
Notes 259

Economic contributions to corporate strategy 260

11.1 Introduction 260
11.2 Unrelated diversification 263
11.3 Related diversification 271
11.4 Horizontal multi-nationalization 276
11.5 Vertical integration 279
11.6 Summary 284
Questions 286
Notes 287

Evolutionary approaches to organizations 288

12.1 Introduction 288
12.2 Giraffes 288
12.3 Organizations and giraffes 290
12.4 Organizational ecology 293
12.5 An evolutionary theory of economic change 302
12.6 Comparison 307
12.7 The evolution of dynamic capabilities 310
12.8 Further developments 317
12.9Summary: the evolutionary perspective 323
Questions 325
Notes 327

13 All in the family 328

13.1 Introduction 328
13.2 The basic conceptual framework 328
13.3 Family resemblances 330
13.4 Family differences 333
13.5 Summary: all in the family? 341
13.6 Organizations as complex, adaptive systems 342
Questions 357
Notes 358

Descriere

Descriere de la o altă ediție sau format:
Help your students understand the economic approaches used in organisations today Economic Approaches to Organizations, 6th edition, introduces your students to the different economic approaches used in organisations today and teaches them how these concepts relate to real-life organisational problems using examples and applications throughout.

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