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Drawing out the underlying economics in business history, this text focuses on learning processes and the development of competitively valuable asymmetries. It shows that organizations learn that this process can be organized effectively, which can have major implications for how competition works.
Issues for Feb. 1965-Aug. 1967 include Bulletin of the Institute of Management Sciences.
'Thankfully, the new edition of this popular book retains all that made the original so impressive and useful. Six important theoretical perspectives of the multinational company (MNC) are discussed at length and compared. Why MNCs exist, how they compete, and their impact on society are the big, eternal questions addressed by the book. What is new in this edition are: an updated description of the international environment, an evaluation of Buckley's recent theory about the global factory, the influence of economic clusters like Silicon Valley on internalization theory, and a revised discussion of the organizational capability perspective. The book can be read and understood at multiple levels, from learning what each theory is about to appreciating the more subtle implications of their differences for firms and society. Despite the complexity of the subject, the book is an easy and enjoyable read. It is written in a lively, user-friendly style, with many illustrated examples.' – William G. Egelhoff, Fordham University, US This expanded and updated edition of a successful textbook will be required reading for both undergraduate and postgraduate students of international business, international management and international economy courses. The current debate about the multinational firm as an actor in the global economy is intense and many-sided. This thoroughly accessible and compact textbook presents, analyzes and compares six different theories of the multinational firm that have dominated the research in international business during the last four decades. The author discloses the basic building blocks and assumptions behind each theory so the reader can reach a better understanding of why the multinational firm is looked upon in so many different ways by researchers and stakeholders.
Traditonal western forms of corporate organization have been called into question by the success of Japanese keiretsu. Firms, Markets and Economic Change draws on industrial economics, business strategy, and economic history to develop an evolutionary model to show when innovation is best undertaken. The authors argue that innovation is a complex process that defies neat categorization and government policy should be to facilitate change rather than to direct it.
In discussing a management topic, scholars, educators, practitioners, and the media often toss out the name of a theorist (Taylor, Simon, Weber) or make a sideways reference to a particular theory (bureaucracy, total quality management, groupthink) and move on, as if assuming their audience possesses the necessary background to appreciate and integrate the reference. This is often far from the case. Individuals are frequently forced to seek out a hodgepodge of sources varying in quality and presentation to provide an overview of a particular idea. This work is designed to serve as a core reference for anyone interested in the essentials of contemporary management theory. Drawing together a team of international scholars, it examines the global landscape of the key theories and the theorists behind them, presenting them in the context needed to understand their strengths and weaknesses to thoughtfully apply them. In addition to interpretations of long-established theories, it also offers essays on cutting-edge research as one might find in a handbook. And, like an unabridged dictionary, it provides concise, to-the-point definitions of key concepts, ideas, schools, and figures. Features and Benefits: Two volumes containing over 280 signed entries provide users with the most authoritative and thorough reference resources available on management theory, both in terms of breadth and depth of coverage. Standardized presentation format, organized into categories based on validity and importance, structures entries so that readers can assess the fundamentals, evolution, and impact of theories. To ease navigation between and among related entries, a Reader’s Guide groups entries thematically and each entry is followed by Cross-References. In the electronic version, the Reader’s Guide combines with the Cross-References and a detailed Index to provide robust search-and-browse capabilities. An appendix with a Chronology of Management Theory allows readers to easily chart directions and trends in thought and theory from early times to the present. An appendix with Central Management Insights allows readers to easily understand, compare, and apply major theoretical messages of the field. Suggestions for Further Reading at the end of each entry guide readers to sources for more detailed research and discussion. Key themes include: Nature of Management Managing People, Personality, and Perception Managing Motivation Managing Interactions Managing Groups Managing Organizations Managing Environments Strategic Management Human Resources Management International Management and Diversity Managerial Decision Making, Ethics, and Creativity Management Education, Research, and Consulting Management of Operations, Quality, and Information Systems Management of Entrepreneurship Management of Learning and Change Management of Technology and Innovation Management and Leadership Management and Social / Environmental Issues PLUS: Appendix of Chronology of Management Theory PLUS: Appendix of Central Management Insights
This book offers an analysis of how firms manage to reconfigure their pool of resources, to deal with the turbulent environments in which they are embedded, thus tackling the issue of how dynamic capabilities must be defined and conceptualized.
What is strategy? For many it is the application of a theory, model or framework. In this book Spender develops a different creative approach. Emphasizing that firms face uncertainties and unknowns (knowledge gaps) he argues that the core of strategic thinking and processes rests on the organization's leaders developing newly imagined solutions to the opportunities that these uncertainties open up. Drawing on a wide range of ideas from strategy, economics, entrepreneurship and philosophy he stresses the importance of judgment in strategy, and argues that a key element of the entrepreneur and executive's task is to engage chosen uncertainties, develop a language to express and explain the firm's particular business model for dealing with these, and thus create innovation and value. At the same time he shows how the language the strategist creates to do this gives the firm identity and purpose, and communicates this to its members, stakeholders, and customers. In an accessible and engaging style Spender introduces these ideas, and reviews the strategy tools currently available from consultants and academics. Throughout he stresses the uncertainties or knowledge absences that pervade business and make effective strategizing both necessary and valuable. He outlines a structured practice that managers and consultants might chose to follow, not a theory. With appendices on casework, teaching strategy, current strategy texts, and further reading this book makes an important contribution to our understanding of the field and practice of strategy, opening up new approaches for managers, consultants, strategy teachers and students.
Do entrepreneurs create ventures or do venture experiences create entrepreneurs? The authors of Entrepreneurship as Experience propose that the answer is 'both'. This important volume examines how individuals experience the creation of a venture as it happens and how that experience determines the types of entrepreneur and venture that ultimately emerge. In essence, entrepreneurship is an experience consisting of large numbers of key events such as a first sale, hiring a first employee, losing a big account events that are processed and made sense of by the entrepreneur. They produce cognitive, emotional and physiological responses, which impact decision-making and behavior. The result is an experience that is purposive, diverse, uncertain, ambiguous and transformative and unique to each individual. Here, the authors argue that as experience unfolds both entrepreneur and venture are being constructed and emerge in unique forms. This experiential view introduces an entirely new lens through which entrepreneurship can be examined. Entrepreneurship as Experience comprises chapters dedicated to sociological, anthropological and psychological research related to human experiencing; the volume presents a new frame for understanding the role of emotions and feelings in venture creation and lays out a conceptual framework for understanding how real-time experiencing informs the entrepreneurial process. New insights are provided regarding how the entrepreneurial mindset and an entrepreneurial identity are formed, and why entrepreneurs take on certain traits and develop certain competencies. Further, the authors put forth new approaches to conducting research on the entrepreneurial experience. Students advanced as well as undergraduate and scholars of entrepreneurship, innovation, strategy and management will find themselves turning often to the ideas and research presented here.
“A superb new understanding of the dynamic economy as a learning society, one that goes well beyond the usual treatment of education, training, and R&D.”—Robert Kuttner, author of The Stakes: 2020 and the Survival of American Democracy Since its publication Creating a Learning Society has served as an effective tool for those who advocate government policies to advance science and technology. It shows persuasively how enormous increases in our standard of living have been the result of learning how to learn, and it explains how advanced and developing countries alike can model a new learning economy on this example. Creating a Learning Society: Reader’s Edition uses accessible language to focus on the work’s central message and policy prescriptions. As the book makes clear, creating a learning society requires good governmental policy in trade, industry, intellectual property, and other important areas. The text’s central thesis—that every policy affects learning—is critical for governments unaware of the innovative ways they can propel their economies forward. “Profound and dazzling. In their new book, Joseph E. Stiglitz and Bruce C. Greenwald study the human wish to learn and our ability to learn and so uncover the processes that relate the institutions we devise and the accompanying processes that drive the production, dissemination, and use of knowledge . . . This is social science at its best.”—Partha Dasgupta, University of Cambridge “An impressive tour de force, from the theory of the firm all the way to long-term development, guided by the focus on knowledge and learning . . . This is an ambitious book with far-reaching policy implications.”—Giovanni Dosi, director, Institute of Economics, Scuola Superiore Sant’Anna “[A] sweeping work of macroeconomic theory.”—Harvard Business Review