Download or read book Economic Efficiency of the Organizational Decisions of the Firm written by Ramamohan T.V.S. Rao and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past several years there has been an awareness that mar kets, contractual arrangements, and hierarchical organizations can be uti lized as alternative modes of coordinating resource utilization in the con text of the firm. In most practical situations mixed forms of organization are more frequent. That is, non-market coordination mechanisms are being utilized even in predominantly market oriented economies. The reasons for the use of one of these organizational modes over the others are still being examined extensively. Very often, asset specificity and bilateral monopoly, risk sharing under uncertainty, transaction cost considerations, and/or technological externalities (economies of scope) have been considered as the major reasons for preferring one of these modes over the others. However, the ultimate effect on the performance of the firm, of any of these aspects which result in the adoption of any specific organizational pattern, has to be through the cost curve and/or the demand curve. The neoclassical welfare concepts, which have been developed to examine the efficiency in the functioning of markets, are well known. The sources of inefficiency in the performance of the firm under different mar ket structures are also well documented. However, there is as yet no well established set of concepts to examine the economic efficiency of the other organizational forms. It is not clear that the neoclassical welfare concepts are not relevant even under the new organizational setting. Studies of this nature are a relatively new area of economic research.

Download or read book Contract Economics written by T.V.S.Ramamohan Rao and published by New Age International. This book was released on 2004 with total page 370 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contracts Are A Major Organizational Arrangement To Conduct Transactions. Economic Theory Has Been Making Attempts To Come To Grips With Four Pertinent Issues. Why Is Contracting Superior To Imperfect Markets And Hierarchical Control In Decentralized Organizations? What Basic Institutional Mechanisms Should Be In Place To Ensure Efficiency Of Contracts? What Determines The Choice Of Contract Forms (In Particular, The Behavioral Responses Of Self-Interest Seeking To Reactions Of Others) And Contract Parameters?Can Contracts Provide A Better Alternative To Regulated Markets? Keeping Information Asymmetry And Asset Specificity As The Focal Points This Book Deals With The Following Mechanisms Of Exchange-Markets (Including Transfer Prices), Contingent Claims Contracts, Incomplete And Incentive Contracts, And Implicit Contracts.The Emphasis Is On The Efficient Structuring Of Such Contracts And The Choice Of Suitable Contract Parameters. One Chapter Is Also Devoted To Trust And Informal Dimensions Of Contracts Since It Is Recognized That Defining And Enforcing Formal Contracts Becomes Difficult As Information Asymmetry And Asset Specificity Reach Their Limits. The Level Of Algebraic Complexity In The Derivations Is Kept To A Minimum To Make The Book Accessible To A Wide Audience.

Download or read book Organization in the Economic Firm written by Katzner, Donald W. and published by Edward Elgar Publishing. This book was released on 2021-10-26 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: Donald W. Katzner explores the concepts, their properties, and the implications of those properties that underlie many of the current approaches to the economics of firm organization. Topics covered include authority structures, the social interaction (including supervision) among employees required to fulfill the responsibilities of their jobs, participatory decision making to the extent that it occurs, the impact of time, and certain kinds of complexity and efficiency, all of which are fundamental to analyses of the internal organization of the economic firm. The author provides a clear and extensive presentation of the basic ideas, and examines how they relate to the operation and profitability of the firm.

Download or read book ECONOMIC ANALYSIS FOR BUSINESS DECISIONS written by Dr. Padmalochana Bisoyi and published by Thakur Publication Private Limited. This book was released on 2023-11-01 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: Buy Economic Analysis for Business Decisions e-Book for Mba 1st Semester in English language specially designed for SPPU ( Savitribai Phule Pune University ,Maharashtra) By Thakur publication.

Download or read book Principles of Management written by Peter Eichhorn and published by Springer. This book was released on 2018-01-10 with total page 373 pages. Available in PDF, EPUB and Kindle. Book excerpt: This textbook presents an overview of how the activities of an organisation can be managed to satisfy the needs of stakeholders through the cost effective, operationally efficient and sustainable transformation of resources into outputs. Taking an interdisciplinary approach, the authors show the relationship between management and economics and within this framework present the key areas of management activity. The book explains the connections between these areas and provides tools and instruments for successful management. The book's approach and content is relevant for all kinds of organisation - private or public sector, service or manufacturing, non-profit, large or small. Each chapter provides cases to illustrate what has been discussed and some questions to test comprehension. Throughout the book is a continuing project in which the reader is put in the position of owning their own business and must think and make decisions about what the chapter has discussed. The book combines Anglo-American and German approaches to management and management studies, making it a valuable resource both for those who are studying management and those who are working as managers.

Download or read book Discretionary Managerial Behavior written by T.V.S. Ramamohan Rao and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discretionary Managerial Behavior presents a quantification of the managerial behavior within decentralized organizations. The volume provides practical insights into the internal functioning of the firm, the relationships between the managers at different organizational echelons, and the conditioning effects of the organizational controls and the market environment external to the firm. It forms a basic contribution to the theoretical modeling, methodological and estimation procedures, and empirical insights into the nature and operation of managerial discretion in decentralized organizations. Both theoretical and empirical literature of organizational economics have not come to grips with the decision making process in such organizations. With this in perspective the volume describes four fundamentally new contributions. It presents: an approach to defining proximate objectives of managers at the divisional levels in a decentralized organization and the coordination by managers at higher levels, an approach to developing a modelling framework from a sound theoretical perspective in order to reflect the postulated behavior, an approach to defining an estimation technique to operationalize both (a) and (b) in a specific empirical context, and the richness of empirical insights which remained elusive for over thirty years. As such this study is an important step to make fundamental progress in the area of interface between business policy and microeconomic theory.

Download or read book Managerial Discretion in Imperfect Markets written by T. V. S. Ramamohan Rao and published by Springer Nature. This book was released on 2023-05-30 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book deals with behavioral responses of management of firms that make several decisions with respect to production, marketing, finance, organization of activities within divisions, and interrelations between divisions (including synergies between them and constraints placed on each other in the attainment of overall goals of the firm). The market conditions, that constitute the basis of such decisions, may be stable, random but predictable, or uncertain. It can be expected that objectives attained by the firm, as a result of decisions of management, may be different from the maximum which can be achieved. A generic conceptualization of such managerial discretion and operationally useful methods of measurement have been presented. It is possible to develop machine learning algorithms on this basis to minimize managerial discretion and assist managers in arriving at strategic decisions thereby leaving more resources to deal with uncertain events as they arise. The volume is a great resource not only for researchers, but also decision makers in corporates.

Download or read book Forming Winning Strategies written by Po L. Yu and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 407 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sooner or later, people develop a fairly stable set of ways for thinking, judging and responding; this is called one's habitual domain. Our habitual domains (HDs) grow and go wherever we go and have great impact on our behavior and decision making. When we are vital and growing our HDs are expanding and flexible; and when we find ourselves in ruts, not growing, it is because our HDs have become rigid and inflexible, as in death. This book discusses all aspects of habitual domains: their foundations, expansion, dynamics and applications to various nontrivial decision problems in our lives, including effective decision making, effective goal setting, cooperation, conflict resolution, negotiation and career management. Based on an integration of psychology, system science, management and common sense and wisdom, the book provides a simple but unified set of tools in terms of habitual domains and the behavior mechanism. The tools can be applied to expand and sharpen our capacity for knowing ourselves, our coworkers, our rivals, and our environments, and to form winning strategies for solving our problems. To make the book fun to read and the concepts introduced easy to understand and apply, the book is written in plain language with many lively and interesting examples as illustrations. The first half of the book focuses on general descriptions of the behavior mechanism and habitual domains, the second half on applications.

Download or read book Market Dominance and Market Power written by T.V.S. Ramamohan Rao and published by Cambridge Scholars Publishing. This book was released on 2020-09-29 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents several fundamentally new ideas. It shows that the notion of market dominance depends on the choices of firms. The fundamental idea here is to separate strategies that the firm wishes to pursue and those that it can achieve given the rival reactions. The book also highlights that consumers generally find it difficult to obtain appropriate information about the value of products when many similar products are sold on the market. Firms provide signals in the form of non-price strategies. The identification, by the consumer, of the maximum value of the product may nevertheless leave some room for firms to expand their market share beyond this. In addition, given the nature of the market, each firm has some market power with regard to consumers on the market and in its relationship with rival firms. This text presents a number of market power indices at the firm and strategy level combining these two dimensions. The book also considers issues of regulation of apps in cyberspace and discusses practical regulatory policies that have been developed to limit misuse of information in cyberspace.

Download or read book The Economics of the Business Firm written by Harold Demsetz and published by Cambridge University Press. This book was released on 1997 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: The essays in this volume discuss the theory of the business firm and its applications in economics.

Download or read book Handbook of Behavioural Economics and Smart Decision Making written by Morris Altman and published by Edward Elgar Publishing. This book was released on 2017-05-26 with total page 607 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Handbook is a unique and original contribution of over thirty chapters on behavioural economics, examining and addressing an important stream of research where the starting assumption is that decision-makers are for the most part relatively smart or rational. This particular approach is in contrast to a theme running through much contemporary work where individuals’ behaviour is deemed irrational, biased, and error-prone, often due to how people are hardwired. In the smart people approach, where errors or biases occur and when social dilemmas arise, more often than not, improving the decision-making environment can repair these problems without hijacking or manipulating the preferences of decision-makers. This book covers a wide-range of themes from micro to macro, including various sub-disciplines within economics such as economic psychology, heuristics, fast and slow-thinking, neuroeconomics, experiments, the capabilities approach, institutional economics, methodology, nudging, ethics, and public policy.

Download or read book The Modern Firm written by John Roberts and published by Oxford University Press. This book was released on 2007-09-06 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: Business firms around the world are experimenting with new organizational designs, changing their formal architectures, their routines and processes, and their corporate cultures as they seek to improve their current performance and their growth prospects. In the process they are changing the scope of their business operations, redrawing their organization charts, redefining the allocation of decision-making authority and responsibility, revamping the mechanisms for motivating and rewarding people, reconsidering which activities to conduct in-house and which to out-source, redesigning their information systems, and seeking to alter the shared beliefs, values and norms that their people hold. In this book, John Roberts argues that there are predictable, necessary relationships among these changes that will improve performance and growth. The organizations that are successful will establish patterns of fit among the elements of their organizational designs, their competitive strategies and the external environment in which they operate and will go about this in a holistic manner. The Modern Firm develops powerful conceptual frameworks for analyzing the interrelations between organizational design features, competitive strategy and the business environment. Written in a non-technical language, the book is nevertheless based on rigorous modeling and draws on numerous examples from eighteenth century fur trading companies to such modern firms such as BP and Nokia. Finally the book explores why these developments are happening now, pointing to the increase in global competition and changes in technology. Written by one of the world's leading economists and experts on business strategy and organization, The Modern Firm provides new insights into the changes going on in business today and will be of interest to academics, students and managers alike.

Download or read book Inequality Economic Growth and Business Decision Making written by Asis Kumar Banerjee and published by Taylor & Francis. This book was released on 2024-08-05 with total page 129 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is now widely recognised that rising inequality of income and wealth on the one hand and a slowdown in the rate of economic growth on the other are two of the most important challenges faced today by the global economy as well as by most of the developing economies. This book starts by explaining how these two issues are interrelated. There is no dearth of books on the role that the economic policies of the government can play in meeting these twin challenges. The role of business managers in the private sector of the economy, however, is a relatively neglected area. This book seeks to close this gap in the literature. The central message of the book is that, contrary to popular belief, it is in the interests of private business itself that business managers take into account the effects that their decisions have on the economy as a whole. It is shown that a failure to do so would hurt their own economic prospects in both the short run and the long. Emphasis is given on the importance of an appropriate orientation of managerial decisions and on the role of investors (i.e. the suppliers of capital) in inducing managers to take socially optimal decisions. The book is addressed as much to business managers and students in management courses as to the general reader. Therefore, no prior knowledge of advanced economic theory is presumed. All arguments are built from first principles.

Download or read book Interorganizational Decision Making written by Roger Chisholm and published by Routledge. This book was released on 2017-09-05 with total page 425 pages. Available in PDF, EPUB and Kindle. Book excerpt: As organizations have grown in scale and scope of activities, so have social pressures on every aspect of organizational activity from personnel policies to waste disposal practices. This volume is a rare example of a multidisciplinary approach to an important theoretical problem--the proper means of interorganizational decision making in light of these new pressures. This complex subject is here attacked by nineteen prominent behavioral scientists from a variety of disciplines.The study of interorganizational decision-making is aimed at moving game situations from conditions of conflict or mixed conflict-cooperation to conditions of pure cooperation. It seeks means of facilitating the coordination of decisions whenever interdependencies exist between the decision units. The book discusses variables, which may affect decision making, including awareness of individual and collective payoffs, choice of an organizational structure, response of boundary personnel, and the decision technology that exists to guide the decision makers.The book contains studies on all interorganizational decision making situations, including individual and joint decisions, those at the interface of government and business, and decision making at the international level. Contributions are balanced between quantitative building approaches and practical empirical applications, suggesting avenues for both theoretical and practical work in this new field. The book will be of profound interest to all behavioral and management scientists.

Download or read book Decision Making in an Organizational Context written by J. Rosanas and published by Springer. This book was released on 2013-05-12 with total page 261 pages. Available in PDF, EPUB and Kindle. Book excerpt: Illustrates how decision-making in organizations has to go beyond economic criteria and the individual level, due to the impossibility of making decisions that do not affect other human beings. The author reviews the conventional analyses of decision-making that do not take into account how decisions affect others and suggests an alternate model.

Download or read book Theory of the Firm written by Kalman J. Cohen and published by Prentice Hall. This book was released on 1975 with total page 552 pages. Available in PDF, EPUB and Kindle. Book excerpt: Business firms, decision making and economic models; Market structures and the theory of the firm; New approaches to the theory of the firm; Implications of microeconomics for the economic system.

Download or read book Organizational Decision Making written by Zur Shapira and published by Cambridge University Press. This book was released on 2002-03-25 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explores decision making in organizations, highlighting the roles of incentive, conflict, power and politics.