Understand the link between management and economics with this unique text. Economic Approaches to Organizations, 6th edition, by Sytse Douma and Hein Schreuder, walks you through different economic approaches in a non-technical way, making it widely accessible. Emphasising the importance of economic issues and developments in the study of organisations and management, the text explores topics such as behavioural theory of the firm, game theory, agency theory, transaction cost economics, the economics of strategy and evolutionary approaches. The book is unique in the market in its attempt to make the link between management and economics, using practical examples throughout to help you understand how the concepts relate to economic and organisational issues in the world today. The 6th edition is packed with updated examples taken from real life and includes new chapters and sections, like a separate chapter on behavioural economics that covers bounds on rationality and self-interest as well as prospect theory. Benefit from the features this edition has to offer: Use of empirical results and real-world dataA step-by-step conceptual framework to explain fundamental economic approaches to organisations.Real-life examples.End-of-chapter questions.Quotations.Diagrams.Further reading and study.A range of cases with a global link. With its unique perspective and range of learning features, this text will provide you with a practical understanding of economic approaches used in organisations today.
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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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Preface xiAcknowledgements xv Part I Foundations 1. Markets and organizations 1.1 The economic problem1.2 The division of labour1.3 Specialization1.4 Coordination1.5 Markets and organizations1.6 Information1.7 The environment and institutions1.8 Historical perspective1.9 Summary: the conceptual framework of this book1.10 Outline of the bookQuestionsNotes 2. Markets 2.1 Introduction2.2 Market interaction: analysis of demand and supply2.3 Decision-making by consumers2.4 Decision-making by producers2.5 Market coordination2.6 The paradox of profits2.7 Competitive markets2.8 The main assumptions underlying standard microeconomic theory2.9 Summary: how according to standard microeconomic theory decisions are coordinated by the marketQuestions 3. Organizations 3.1 The world of organizations3.2 Organizational coordination3.3 Types of organizations3.4 Organizational markets3.5 Organized markets3.6 The rise of the Internet and the digitization of organizations3.7 Digital platforms: a new coordination mechanism3.8 The Platform Organization3.9 Summary: how organizations achieve coordinationQuestionsNotes 4. Information 4.1 Coordination and information4.2 Hidden information4.3 Hidden action4.4 The value of information4.5 Information as an economic good4.6 Summary: information problems for markets and organizationsQuestionsNotes 5. Game theory 5.1 Introduction5.2 The prisoner's dilemma5.3 Coordination games5.4 The entry game5.5 The iterated prisoner's dilemma5.6 Auctions5.7 Evolutionary game theory5.8 Summary: insights from game theoryQuestions 6. Econs and Humans 6.1 Introduction6.2 The social domain versus the economic domain6.3 Economic, social and moral man: bounds on self-interest6.4 Bounds on rationality6.5 Prospect theory6.6 Summary: behavioural economicsQuestions Part II Economic Approaches 7. Behavioural theory of the firm 7.1 Introduction7.2 The firm as a coalition of participants7.3 Organizational goals7.4 Organizational expectations7.5 Organizational choice7.6 From bounded rationality to behavioural economics7.7 Summary: goals and decision-making within the firm in behavioural theoryQuestionsNotes 8. Agency theory 8.1 Introduction8.2 Separation of ownership and control8.3 Managerial behaviour and ownership structure8.4 Entrepreneurial firms and team production8.5 The firm as a nexus of contracts8.6 Theory of principal and agent8.7 Applying agency theory8.8 Summary: agency relations between owners, managers and employeesQuestionsNotes 9. Transaction cost economics 9.1 Introduction9.2 Behavioural assumptions: bounded rationality and opportunism9.3 Dimensions of transactions9.4 Peer groups9.5 Simple hierarchies9.6 Multistage hierarchies: U-form and M-form enterprises9.7 Organizational markets9.8 Digitization and transaction costs9.9 Markets and organizations: are these all there is?9.10 Governance in a three-level schema9.11 Summary: effect of transaction costs on choosing between markets and organizations and organizational formsQuestionsNotes 10. Economic Contributions to business/competitive strategy 10.1 Introduction10.2 Industry analysis10.3 Competitor analysis10.4 Competitive strategy10.5 Resource-based view of the firm10.6 Dynamic capabilities10.7 Move and counter move10.8Summary: how economic analysis can contribute to the formulation of competitive strategiesQuestionsNotes 11. Economic contributions to corporate strategy 11.1 Introduction11.2 Unrelated diversification11.3 Related diversification11.4 Horizontal multi-nationalization11.5 Vertical integration11.6 SummaryQuestionsNotes 12. Evolutionary approaches to organizations 12.1 Introduction12.2 Giraffes12.3 Organizations and giraffes12.4 Organizational ecology12.5 An evolutionary theory of economic change12.6 Comparison12.7 The evolution of dynamic capabilities12.8 Further developments12.9 Summary: the evolutionary perspectiveQuestionsNotes 13. All in the family 13.1 Introduction13.2 The basic conceptual framework13.3 Family resemblances13.4 Family differences13.5 Summary: all in the family?13.6 Organizations as complex, adaptive systemsQuestionsNotes BibliographyIndex
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Why do organizations exist? What is the relationship between markets and organizations? When does one perform better than the other? Find the answers in Economic Approaches to Organizations!   Now in its sixth edition, this text emphasizes the importance of economic perspectives and theories 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 fully updated 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: ·    Introduction of digital platforms as coordination mechanism and platform organizations as new organizational type. Economic explanation of the business models of Airbnb, Amazon, Google, Uber and similar platform organizations. ·    A separate chapter on behavioural economics covering bounds on rationality and self-interest as well as prospect theory. ·    An update of the exciting new field of complexity economics focusing on learning and adaptation. ·    Three application chapters on mergers and acquisitions, corporate governance and hybrid forms (for example: joint ventures, business groups and franchising) offered electronically in addition to the material in the book.   This is the ideal textbook for courses 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 honorary 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. He is also chairman of Ecorys, a leading research-based economic consultancy firm in Europe.  
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Hallmark features of this title The text is written to be accessible to all students, simply covering essential topics. A step-by-step conceptual framework explains fundamental economic approaches to organisations.Assumes no prior knowledge of economics.Covers Game Theory, Strategy, and Evolution.Discusses the 5 different economic approaches to organisationsWritten in a concise, informative, and student-friendly style. Contains features to aid retention and help students apply their knowledge. Packed with empirical results and real-world data.Contains Real-life examples.End-of-chapter questions consolidate understanding.Quotations and diagrams aid comprehension.further reading and study material allow for deeper study.Wide range of cases with a global link.
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New and updated features to this edition The 6th edition has been revised and updated to include new content that reflects the latest available information on the topic. Changes to this edition from the previous include: An update of the exciting new field of complexity economics focusing on learning and adaptation.A new introduction of digital platforms as coordination mechanisms and platform organizations as a new organizational type.A new economic explanation of the business models of Airbnb, Amazon, Google, Uber and similar platform organizations.A separate chapter on behavioural economics covers bounds on rationality and self-interest as well as prospect theory.
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Produktdetaljer

ISBN
9781292128900
Publisert
2017-03-28
Utgave
6. utgave
Utgiver
Vendor
Pearson Education Limited
Vekt
665 gr
Høyde
244 mm
Bredde
188 mm
Dybde
10 mm
Aldersnivå
U, 05
Språk
Product language
Engelsk
Format
Product format
Heftet
Antall sider
400

Biographical note

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.