Synopsis
This approach to managerial economics takes models from recent economic research and applies them to the internal structure of the firm. After teaching basic applied economics, the authors look inside the firm and apply this analysis to management decision making. The general model used for this application is organizational architecture, which consists of three aspects of corporate organization: the assignment of decision rights within the company; methods of rewarding individuals; and the structure of systems to evaluate the performance of both individuals and business units. These three elements must balance in an organization.
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内容説明
With two distinct objectives, this text's approach to managerial economics takes models from recent economics research and applies the research to the internal structure of a firm. After teaching basic applied economics, the authors look inside the firm and apply this analysis to management decision making. Authors Brickley, Smith, and Zimmerman contend that organizational architecture consists of three aspects of corporate organization: the assignment of decision rights within the company; methods of rewarding individuals; and, the structure of systems to evaluate the performance of both individuals and business units. These three components can be likened to a stool with three legs. If one of the legs is shorter, the stool is out of balance. These three elements must be in balance in the organization as well.
Book Description
This new approach to managerial economics takes models from recent economics research and applies this research to the internal structure of the firm. After teaching basic applied economics, the authors look inside the firm and apply this analysis to management decision making.
The general model used for this application is organizational architecture. Organizational architecture consists of three aspects of corporate organization: the assignment of decision rights within the company; methods of rewarding individuals; the structure of systems to evaluate the performance of both individuals and business units. These three components can be likened to a stool with three legs. If one of the legs is shorter, the stool is out of balance. These three elements must be in balance in the organization as well.
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From the Publisher
Brand-new Chapter 18 "Choosing the Legal Form of Organization": The legal form of organization is a policy choice. For example, nonprofit hospitals sometimes change to for-profit organizations (and vice versa), mutual companies become stock companies, franchised units become company-owned units and so on. This chapter presents an economic analysis of the legal form of organization.
Motivating example in Chapter 1 The Collapse of Enron: Enron's bankruptcy filing in the end of 2001 was the most spectacular business failure ever seen. What caused the downfall of this once-prosperous company? Chapter 1 examines Enron's fundamentally flawed organizational design to show the problems that resulted in the company's demise.
Motivating example in Chapter 2 Problems at Merrill-Lynch: In May, 2002, Merrill Lynch agreed to pay $100 million to settle charges that its analysts had recommended stocks to clients that they privately thought were poor investments. What motivated these analysts to mislead their clients? Chapter 2 shows how managers analyze the motivations behind individual behavior within the organization in order to determine how to take action.
More substantive material in the micro chapters: Chapter 3 now includes a new section that covers linear supply and demand curves and gives a numerical example as well as new material on the dynamic use of knowledge and modern economic growth theory. Chapter 4 includes a new case study on TiVo that includes quantitative questions.
Extended case study on Arthur Anderson: The extensive examples throughout the book have dozens of recent business applications, such as an in-depth extended case study in the end of Part 3 on Arthur Andersen that provides a format for integrative discussion.
Improved website: The book website will include brand-new experiential activities, online auctions, in-class games, multiple-choice and fill-in-the-blank exercises, teaching tips, and links to additional case studies.
Theme of Organizational Architecture: This theme consists of the assignment of decision rights, the performance evaluation system, and the reward system. Well-designed organizations assign decision rights to people with relevant knowledge and provide incentives for them to take productive actions. A dysfunctional organization can often be traced to a faulty organizational architecture. This well tested organizational architecture framework is widely used at important business schools throughout the world and is employed by managers in the real business world.
Basic economic tools of analysis: Economics tools (e.g. supply and demand, basic contract theory, marginal analysis) help the manager design organizations that motivate individuals to make choices that will increase firm value.
Economics of Strategy: Creating and Capturing Value: This chapter (8) is unique among managerial economics texts. It addresses the fundamental question of how firms capture value, what industries they should compete in, and how they should compete. It is particularly useful to business students and managers.
Economics of Strategy: Game Theory : The chapter (9) on Game Theory is both theoretically sound and replete with realistic examples. Virtually all the game theory discussions are framed in managerial terms and the game theory tools are explicitly used to understand business problems. This is a topic all modern applied economics texts include and will be popular with instructors.
Economics of Regulation: This flexible chapter (21) covers the impact of government regulation on managers, the role of government in commerce, the economic theory of regulation, cartels, competitive advantage, trade policy, and an optional section on the organizational architecture of government organizations. It can be treated as another application of organizational architecture or taught earlier in the course as one of the key microeconomic concepts.
Updated Examples and Expanded Mini-cases: The extensive examples throughout the book have dozens of recent business applications. The end of chapter mini-cases have a strong focus on e-commerce and international topics (e.g. pricing over the internet in the pricing chapter (7) and contracting problems on e-bay in the contracts chapter (10)). The mini-cases allow the student to apply the book's organizational architecture framework to realistic problems faced by the typical manager. The lively mini-cases and up to date examples contribute to high student and manager interest.
Wall Street Journal Edition. Your students can subscribe to the Wall Street Journal for 15 weeks at a specially priced rate of $20.00 in addition to the price of the text. Students will receive a "How To Use the WSJ" handbook plus a pass code card shrink-wrapped with the text. The card directs students to a Website where they enter the code and then gain access to the WSJ registration page to enter address info and set up their print and online subscription, and also set up their subscription to Dow Jones Interactive online for the span of the 15-week period. Passcode ISBN 007-251950-9. --このテキストは、 ペーパーバック 版に関連付けられています。
Motivating example in Chapter 1 The Collapse of Enron: Enron's bankruptcy filing in the end of 2001 was the most spectacular business failure ever seen. What caused the downfall of this once-prosperous company? Chapter 1 examines Enron's fundamentally flawed organizational design to show the problems that resulted in the company's demise.
Motivating example in Chapter 2 Problems at Merrill-Lynch: In May, 2002, Merrill Lynch agreed to pay $100 million to settle charges that its analysts had recommended stocks to clients that they privately thought were poor investments. What motivated these analysts to mislead their clients? Chapter 2 shows how managers analyze the motivations behind individual behavior within the organization in order to determine how to take action.
More substantive material in the micro chapters: Chapter 3 now includes a new section that covers linear supply and demand curves and gives a numerical example as well as new material on the dynamic use of knowledge and modern economic growth theory. Chapter 4 includes a new case study on TiVo that includes quantitative questions.
Extended case study on Arthur Anderson: The extensive examples throughout the book have dozens of recent business applications, such as an in-depth extended case study in the end of Part 3 on Arthur Andersen that provides a format for integrative discussion.
Improved website: The book website will include brand-new experiential activities, online auctions, in-class games, multiple-choice and fill-in-the-blank exercises, teaching tips, and links to additional case studies.
Theme of Organizational Architecture: This theme consists of the assignment of decision rights, the performance evaluation system, and the reward system. Well-designed organizations assign decision rights to people with relevant knowledge and provide incentives for them to take productive actions. A dysfunctional organization can often be traced to a faulty organizational architecture. This well tested organizational architecture framework is widely used at important business schools throughout the world and is employed by managers in the real business world.
Basic economic tools of analysis: Economics tools (e.g. supply and demand, basic contract theory, marginal analysis) help the manager design organizations that motivate individuals to make choices that will increase firm value.
Economics of Strategy: Creating and Capturing Value: This chapter (8) is unique among managerial economics texts. It addresses the fundamental question of how firms capture value, what industries they should compete in, and how they should compete. It is particularly useful to business students and managers.
Economics of Strategy: Game Theory : The chapter (9) on Game Theory is both theoretically sound and replete with realistic examples. Virtually all the game theory discussions are framed in managerial terms and the game theory tools are explicitly used to understand business problems. This is a topic all modern applied economics texts include and will be popular with instructors.
Economics of Regulation: This flexible chapter (21) covers the impact of government regulation on managers, the role of government in commerce, the economic theory of regulation, cartels, competitive advantage, trade policy, and an optional section on the organizational architecture of government organizations. It can be treated as another application of organizational architecture or taught earlier in the course as one of the key microeconomic concepts.
Updated Examples and Expanded Mini-cases: The extensive examples throughout the book have dozens of recent business applications. The end of chapter mini-cases have a strong focus on e-commerce and international topics (e.g. pricing over the internet in the pricing chapter (7) and contracting problems on e-bay in the contracts chapter (10)). The mini-cases allow the student to apply the book's organizational architecture framework to realistic problems faced by the typical manager. The lively mini-cases and up to date examples contribute to high student and manager interest.
Wall Street Journal Edition. Your students can subscribe to the Wall Street Journal for 15 weeks at a specially priced rate of $20.00 in addition to the price of the text. Students will receive a "How To Use the WSJ" handbook plus a pass code card shrink-wrapped with the text. The card directs students to a Website where they enter the code and then gain access to the WSJ registration page to enter address info and set up their print and online subscription, and also set up their subscription to Dow Jones Interactive online for the span of the 15-week period. Passcode ISBN 007-251950-9. --このテキストは、 ペーパーバック 版に関連付けられています。
著者について
Jerry Zimmerman (Rochester, N) is Alumni Distinguished Professor of Accounting at the William E. Simon Graduate School of Business Administration, University of Rochester.
