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Presenting the foundations of an integrated theory of organizations, Jensen argues that the cost of transferring information necessitates decentralization of some decision rights in organizations and economies. This in turn requires organizations to solve the control problem that results when self-interested persons do not behave as perfect agents.
"Books and articles come and go, endlessly. But a few do stick, and this book is such a one. Organizational Strategy, Structure, and Process broke fresh ground in the understanding of strategy at a time when thinking about strategy was still in its early days, and it has not been displaced since." —David J. Hickson, Emeritus Professor of International Management & Organization, University of Bradford School of Management Originally published in 1978, Organizational Strategy, Structure, and Process became an instant classic, as it bridged the formerly separate fields of strategic management and organizational behavior. In this Stanford Business Classics reissue, noted strategy scholar Donald Hambrick provides a new introduction that describes the book's contribution to the field of organization studies. Miles and Snow also contribute new introductory material to update the book's central concepts and themes. Organizational Strategy, Structure, and Process focuses on how organizations adapt to their environments. The book introduced a theoretical framework composed of a dynamic adaptive cycle and an empirically based strategy typology showing four different types of adaptation. This framework helped to define subsequent research by other scholars on important topics such as configurational analysis, organizational fit, strategic human resource management, and multi-firm network organizations.
The theoretical foundations of management strategy are identified and outlined in this text. Five theories are considered in the light of questions about how organisations operate efficiently, cost minimization, wealth creation, individual self-interest, and continued growth.
Presenting the foundations of an integrated theory of organizations, Jensen argues that the cost of transferring information necessitates decentralization of some decision rights in organizations and economies. This in turn requires organizations to solve the control problem that results when self-interested persons do not behave as perfect agents.
There are three main elements in an organization's total strategy: its competitive strategy, its organization strategy, and its human strategy. This volume contains twelve articles written over the last twenty-five years which deal with a firm's organizational strategy. In these articles my co-authors (noted in each chapter) and I lay out the foundations of a theory of organizations that is both integrated and powerful. The development of this material had its genesis in the early 1970s at the University of Rochester, where two complementary initiatives spurred this effort. One was the research that William Meckling and I began on agency theory in 1973, which opened up a new set of insights into the behavior of managers and firms. The second was the course development effort that Meckling and I began at the same time, which has led to major courses at both Rochester and Harvard. In our course at Harvard Business School, entitled Coordination, Control, and the Management of Organizations (CCMO), my colleagues (George Baker, Carliss Baldwin, Karen Wruck, and Malcolm Salter) and I apply the concepts to a wide range of management and organizational problems. The course, one of the most successful in the second year of the MBA program, attracts about 600 students each year. The history of the course is summarized in Organizations and Markets at the Harvard Business School, 1984-1996 by Michael C. Jensen, George Baker, Carliss Baldwin, and Karen H. Wruck, in The Intellectual Venture Capitalist: John H. McArthur and the Work of Harvard Business School 1980-1995, edited by Thomas K. McCraw and Jeffrey L. Cruikshank (Harvard Business School Press, 1998). This article and a complete description of the CCMO course, including the course syllabus, reading list, course notes, and practice questions, are available in four electronic documents at: Coordination, Control, and the Management of Organizations: Complete Package of Course-Related Materials (in four documents).
Foundations of Strategy, Canadian Edition is a concise text aimed at both undergraduate and MBA students. With the needs of these students in mind, the authors made sure that the text was written in an accessible style, with a clear, comprehensive approach and sound theoretical depth. An excellent set of current and in-depth Canadian and global cases will show students how to apply the strategy concepts in real-world scenarios. Today’s strategy modules are delivered in a wide variety of different formats to a wide range of audiences. Instructors frequently find themselves faced with the challenge of delivering their modules in relatively short time frames to student groups with very diverse educational and employment backgrounds. This text is designed to assist instructors in meeting this challenge by covering the core aspects of strategy as concisely as possible without losing academic depth.
Foundations of Strategy, second edition is a concise text aimed at both undergraduate and Masters students. Written in an accessible style with the needs of these students in mind, the latest edition has a clear, comprehensive approach, underlined by sound theoretical depth. The content has been fully revised and updated to reflect recent developments in the business environment and strategy research. Features of the text include: 10 chapters covering all the topics in a typical one-semester course. Concise and integrated treatment of strategy implementation focusing on strategy in practice. Integration of the not-for-profit sector. Opening and closing chapter case studies covering a range of real-world, global examples. Featured Example and Case Insight boxes throughout chapters to give an additional dimension to the subject matter. An extensive range of learning and teaching materials accompany this text including instructor manual, case teaching notes, test bank and PowerPoint slides, for instructors. Resources for students include self-test quizzes and glossary flashcards to check understanding.
Verbeke provides a new perspective on international business strategy by combining analytical rigour and true managerial insight on the functioning of large multinational enterprises (MNEs). With unique commentary on 48 seminal articles published in the Harvard Business Review, the Sloan Management Review and the California Management Review over the past three decades, Verbeke shows how these can be applied to real businesses engaged in international expansion programmes, especially as they venture into high-distance markets. The second edition has been thoroughly updated and features greater coverage of emerging markets with a new chapter and seven new cases. Suited for advanced undergraduates and graduate courses, students will benefit from updated case studies and improved learning features, including 'management takeaways', key lessons that can be applied to MNEs and a wide range of online resources.
7 Powers details a strategy toolset that enables you to build an enduringly valuable company. It was developed by Hamilton Helmer drawing on his decades of experience as a strategy advisor, equity investor and Stanford University teacher. This is must reading for any business person and applies to all businesses, new or mature, large or small.
The globalization of the competitive landscape has forced companies to fundamentally rethink their strategies. Whereas once only a few industries such as oil could be labeled truly global, today many-from pharmaceuticals to aircraft to computers-have become global in scale and scope. As a consequence, creating a global competitive advantage has become a key strategic issue for many companies. Crafting a global strategy requires making decisions about which strategy elements can and should be globalized and to what extent.