What is the role of market regulation and consumer protection policies in this regard? How do firms discriminate between consumers according to differences in their rationality?
The book is meant to serve as a textbook for graduate courses in microeconomic theory, industrial organization or behavioral economics. Keywords: bounded rationality , industrial organization , behavioral economics , behavioral industrial organization , price complexity , dynamically inconsistent preferences , biased beliefs , reference-dependent choice , consumer psychology , consumer protection , regulation , monopoly , competition.
Forgot password? Don't have an account? All Rights Reserved. OSO version 0. University Press Scholarship Online. Sign in. Not registered? Strategic supplier management in nascent firms: an examination of how nascent firms improve customer attractiveness to obtain strategic supplier collaboration.
Individual knowledge creation ability: dispositional antecedents and relationship to innovative performance. How the validation of prior learning can be used to assess entrepreneurial human capital investments and outcomes. Whether and when do alliance terminations pay off? Peer-level analyst transitions. The origins of time compression diseconomies. Inside the black box: an investigation of non-executive director activity through the lens of dynamic capability.
Business Schools. CSR portfolio characteristics and performance outcomes: examining the impacts of CSR portfolio diversity and dynamism. Bribery in emerging economies: an integration of institutional and non-market position perspective. Reputation and Pricing Dynamics in Online Markets.
Balancing exploration and exploitation in public management: Proposal for an organizational model. Unfolding institutional plurality in hybrid organizations through practices: The case of a cooperative bank. Social innovation and temporary innovations systems TIS : insights from nature-based solutions in Europe.
Incarceration as a result of the play of interests in the Polish judicial system. Too much of a good thing? An assessment of the effects of competitive and cooperative action repertoires on firm performance. Effects of herding behavior of tradable green certificate market players on market efficiency: insights from heterogeneous agent model. Determinants of employee innovation: an open innovation perspective.
Christian Stadler , Constance E. Helfat , Gianmario Verona. New opportunities for institutional analysis in public administration research. Engineering serendipity: When does knowledge sharing lead to knowledge production? Un bounded rationality of decision deliberation. Gradient-based Algorithms for Machine Teaching.
Sustainable organisational learning in sustainable companies. Development of an integrated framework regarding inter-firm collaborative business strategies. Contexts of organizational learning in developing countries: the role of training programmes in Egyptian public banks. Examining sustainable business performance determinants in Malaysia upstream petroleum industry.
Refining a subsidiary evolution framework: clarifying key concepts. Review of International Business and Strategy, Vol. The knowledge based view and global strategy: Past impact and future potential. Ambiguity, Uncertainty and Implementation. Addressing complex challenges in transformations and planning: A fuzzy spatial multicriteria analysis for identifying suitable locations for urban infrastructures. With a little help from my friends? How learning activities and network ties impact performance for high tech startups in incubators.
Geopolitical disruptions and the manufacturing location decision in multinational company supply chains: a Delphi study on Brexit. Evidence from a Field Experiment.
Performance, Satisfaction, or Loss Aversion? Leaders mentoring others: the effects of implicit followership theory on leader integrity and mentoring. Taking the human body seriously. Application of the safety through organizational learning methodology for the post analysis of an adverse event during a search and rescue operation.
Social structure formation in a network of agents playing a hybrid of ultimatum and dictator games. Is Transaction Cost Economics Behavioral? Beyond Organisation Development. Optimal strategies for selecting coordinators. Advancing behavioural public policies: in pursuit of a more comprehensive concept. Beyond nudge: advancing the state-of-the-art of behavioural public policy and administration.
Dimensionen der Kundenorientierung. Verbraucherwissenschaften: Impulsgeber der Entwicklung innovativer Verbraucherpolitik-Instrumente. Corporate Purpose and Acquisitions. Introduction to machine and human rationality. Flexibly bounded rationality. Bounded rational counterfactuals. Rational markets. Can machines be rational? Rational machine. What is machine vs human rationality?
Rational opportunity cost. Staying connected under fire: Effects of individual roles and organizational specialization on the robustness of emergency-phase communication networks. Safety and Security in Nightlife Areas in the Netherlands. Misuse of Public Office for Organizational Gain? Brazilian Political Parties in Corruption Scandals. The Cognitive Limitations of Rationality.
Heuristic decision-making in firm internationalization: The influence of context-specific experience. The Limitations of Decision-Making. Practical wisdom as an adaptive algorithm for leadership: Integrating Eastern and Western perspectives to navigate complexity and uncertainty.
Adaptive learning in international business. Preventing drowning in information: a topic model approach to relating information on Strategic Scanning. Knowledge convergence and organization innovation: the moderating role of relational embeddedness.
Financialization of housing policies in Latin America: a comparative perspective of Brazil and Mexico. Rationality in mental disorders. Regional dynamic traffic assignment with bounded rational drivers as a tool for assessing the emissions in large metropolitan areas.
Electricity infrastructure and innovation in the next phase of energy transition—amendments to the technology innovation system framework. Profiling analysts and actors in interaction: how behavioural aspects can positively affect the decision aid process.
Effects of information presentation on regulatory decisions for products of biotechnology. A theory of information overload applied to perfectly efficient financial markets. Managing knowledge in the context of gastronomy and culinary tourism: a knowledge-based view. Booster seats: new committee chairs and legislative effectiveness. Peer knowledge sharing and organizational performance: the role of leadership support and knowledge management success.
Unethical employee behaviour: a review and typology. Should business angels diversify their investment portfolios to achieve higher performance? The role of knowledge access through co-investment networks.
EMBAs perceived usefulness of academic research for student learning and use in practice. Promuovere l'invecchiamento attivo attraverso il modello life skills education. Un progetto di ricerca-intervento per potenziare il pensiero critico ed il decision making. Systematization of absorptive capacity microprocesses for knowledge identification in project management.
System dynamics modelling to formulate policy interventions to optimise antibiotic prescribing in hospitals. Machine learning and human capital complementarities: Experimental evidence on bias mitigation.
Cognitive foundations of firm internationalization: A systematic review and agenda for future research. The role of intellectual capital and social capital on the intention to use MOOC. Emergence versus neoclassical reductions in economics.
The contribution of behavioral economics to crisis management decision-making. Jillian Chown. Reflections on the criteria for the sound measurement of intellectual capital: A knowledge-based perspective.
How hospitals in mainland China responded to the outbreak of COVID using information technology—enabled services: An analysis of hospital news webpages. Occupational arbitrage equilibrium as an entropy maximizing solution. Can we have it all? Sustainability trade-offs and cross-insurance mechanisms in supply chains. Leader self-enhancement values: curvilinear and congruence effects.
Different paradigms of evidence and knowledge: Recognising, honouring, and celebrating Indigenous ways of knowing and being. Psychological biases and heuristics in the context of foresight and scenario processes. Making sense of changing ethical expectations: The role of moral imagination. Barriers to organizational learning in a multi-institutional initiative.
International business strategy: development of an integrated framework and typology. Knowledge absorption for cyber-security. Organizational innovation efforts in multiple emerging market categories: Exploring the interplay of opportunity, ambiguity, and socio-cognitive contexts. From organizational learning to organizational mnemonics: Redrawing the boundaries of the field.
Linking knowledge management, organizational learning and memory. Absorptive capacity in a two-sector neo-Schumpeterian model: a new role for innovation policy. An integrated framework for elucidating the energy-saving decision-making process of Small- and medium-sized Enterprises in Taiwan. From automats to algorithms: the automation of services using artificial intelligence. Vikas A.
Aggarwal , David H. Hsu , Andy Wu. Are individual investors irrational or adaptive to market dynamics? Getting innovations adopted in the housing sector. Prestige Preference and Over- Confidence. The criticality of social and behavioral science in the development and execution of autonomous systems. Grundmodelle menschlichen Informations- und Kommunikationsverhaltens. Equity Crowdfunding: Principles and Investor Behaviour. Drinking and Driving. Model of Dialectical Learning.
Aprendizagem interorganizacional em redes de micro e pequenas empresas: um olhar integrativo da literatura. Interorganizational learning in networks of micro and small enterprises: an integrative look at the literature. A holistic model of human capital for value creation and superior firm performance: The Strategic factor market model.
Division of roles and endogenous specialization. Transforming I into we in organizational knowledge creation: A case study. Information Evolution and Organisations. The microfoundations of an operational capability in digital manufacturing. Climbing up and down the hierarchy of accountability: implications for organization design.
Analysing the effect of government policy intervention on cross-border freight transportation flows: the Belt and Road perspective.
Debates around the nature of knowledge transfer: how well do we know about the construct? Computation and management of weighted activation vectors in support to fMRI analysis of clinical subjects. Book Review: Organizational learning and performance: The science and practice of building a learning culture. Optimism, volatility and decision-making in stock markets. The role of regulatory focus and trustworthiness in knowledge transfer and leakage in alliances.
Dynamic capabilities and internationalization of authentic firms: Role of heritage assets, administrative heritage, and signature processes. The distribution of ignorance on financial markets.
Coherence or flexibility? Managing waste quality in industrial symbiosis: Insights on how to organize supplier integration. Leadership change and corporate social performance: The context of financial distress makes all the difference. Neither a Tree Nor Physics. Exploring effective price presentation format to reduce decision difficulty and increase decision satisfaction. Bringing the organization back in: Flexing structural responses to competing logics in budgeting.
A problem-solving process for developing capabilities: the case of an established firm. Ordinal consensus measure with objective threshold for heterogeneous large-scale group decision making.
Collaboration and informal hierarchy in innovation teams: Product introductions in entrepreneurial ventures.
Knowing is Half the Battle, or Is It? Investigating the role of contextual factors in effectively executing communication evaluation and measurement.
Looking at the taxation effect on cross-state smuggling using rational addiction models. Knowledge management capability and organizational memory: a study of public sector agencies. Dimensions of decision-making: An evidence-based classification of heuristics and biases. Analysing the dynamics of mental models using causal loop diagrams.
Meeting the discipline challenge: Capacity-building youth-adult leadership. Are the US and China fated to fight? University Partnership. Hendrik Wilhelm , Andreas W. Richter , Thorsten Semrau. Transparency in policy making: A complexity view. Contested governance: The new repertoire of the Eurozone crisis. Elucidating investors rationality and behavioural biases in Indian stock market. System dynamics models for the simulation of sustainable urban development. Mind the gap: the role of HRM in creating, capturing and leveraging rare knowledge in hostile environments.
Exploring the processing of product returns from a complex adaptive system perspective. A holistic analysis of a BIM-mediated building design process using activity theory. Trading off learning and performance: Exploration and exploitation at work. Exploration-exploitation tradeoffs and information-knowledge gaps in self-regulated learning: Implications for learner-controlled training and development.
Business intelligence and analytics for value creation: The role of absorptive capacity. Business, organization theory, and the current challenge of neocharisma. From standard to evolutionary finance: a literature survey. Managerial learning challenges in a complex world. Knowledge management in franchising: a research agenda.
Absorptive Capacity and Enterprise Systems Implementation. Behavioral economics for decision support systems researchers. Inventor knowledge recombination behaviors in a pharmaceutical merger: The role of intra-firm networks.
Status maximization as a source of fairness in a networked dictator game. Iterations as the result of social and technical factors: empirical evidence from a large-scale design project. Entrepreneurial decision-making: new conceptual perspectives. Relationship learning through inter-firm conduits in Finnish small and medium enterprises. Application of interpretable machine learning models for the intelligent decision. Project Net Present Value estimation under uncertainty.
Multi-scale resolution of neural, cognitive and social systems. To fit in or stand out? How optimal distinctiveness in technological diversification affects firm performance. The Situational Logic of Disciplinary Scholarship.
Sensemaking, sense-breaking, sense-giving, and sense-taking: How educators construct meaning in complex policy environments. Flight Crew Decision-Making. Brad N. Lernen als Dauerveranstaltung? Zum Wandel des Umgangs mit Wissen in Organisationen. Worker Productivity in Operations Management. Context of organizational culture as a relevant factor of organizational knowledge.
Hidden product knowledge: problems and potential solutions. Artists Work Best Alone? Managerial rationales for investing and divesting under uncertainty. The role of industry-specific, occupation-specific, and location-specific knowledge in the growth and survival of new firms. A value-justice model of knowledge integration in wikis: The moderating role of knowledge equivocality.
The role of cognitive artifacts in organizational routine dynamics: an agent-based model. Chapter 5 Corporate Entrepreneurship as a Survival Routine.
An agent-based modeling for housing prices with bounded rationality. How proximity matters in interactive learning and innovation: a study of the Venetian glass industry. Terrorism and Social Movements. Evidence from European Countries. Strategic Responsiveness and the Minority Public Manager.
Foresight, risk attitude, and utility maximization in naturalistic sequential high-stakes decision making. The role of organisational culture in the internationalisation of new ventures. Determinants of intra-firm trade: Evidence from foreign affiliates in Sub-Saharan Africa. People, technology, and governance for sustainability: the contribution of systems and cyber-systemic thinking. About introvert incumbents and extravert start-ups: An exploration of the dialectics of collaborative innovation in the Dutch journalism field.
Lean healthcare: scale, scope and sustainability. Opportunity recognition among migrant entrepreneurs. Learning-structure fit part I. Impact evaluation of quality management in higher education: a contribution to sustainable quality development in knowledge societies.
What can policy-makers do with the idea of prestige, to make better policy? Disentangling supply chain management competencies and their impact on performance. Swarm intelligence in humans: A perspective of emergent evolution. Knowledge complexity and the performance of inter-unit knowledge replication structures. Frequency of international expansion through high control market expansion modes and interlocked directorships. Unintended outcomes evaluation approach: A plausible way to evaluate unintended outcomes of social development programmes.
International business research challenges in Africa. Strategic human resource management: a power based critique. Asymmetric and nonlinear dynamics in sovereign credit risk markets. Absorptive capacity for need knowledge: Antecedents and effects for employee innovativeness. Value creation from big data: Looking inside the black box. War for profit: English corsairs, institutions and decentralised strategy. Rigidity and performance threshold: How routinization process affects dynamic capabilities.
Are organisational defensive routines harmful to the relationship between personality and organisational learning? Technological coevolution in the electric energy sector. How environmental protection agencies can promote eco-innovation: The prospect of voluntary reciprocal legitimacy. The influence of geographical and clinical factors on decisions to use surgical mesh in operations for pelvic organ prolapse.
Proximity and multinational enterprise co-location in clusters: a multiple case study of Dutch science parks. Social enterprises and organizational learning in South Africa. When unforeseen events become strategic. Knowledge creating ba as a determinant of work performance of employees: An empirical analysis among pump manufacturing firms in South India.
Merging building maintainability and sustainability assessment: A multicriteria decision making approach. Business models and organization design. The Emergence of Knowledge Management. Failure in Innovation Decision Making.
Consensus decision models for preferential voting with abstentions. Strategisches Management. Sozialkonstruktivistisches Fundament. Do Intrapreneurs Learn by Doing? Verifying Efficacy: Yokozuna Project. Diffusion of Shared Goods in Consumer Coalitions. An Agent-Based Model. A German Narrative. Essays on Angel Investing in the Entrepreneurial Ecosystem. Mapping the terra incognita of economic cognition will require an experimental paradigm that incorporates context. Policy learning over a decade or more and the role of interests therein: The European liberalization policy process of Belgian network industries.
The vestiges and vanguards of policy design in a digital context. Radical framing effects in the ultimatum game: the impact of explicit culturally transmitted frames on economic decision-making. Cross-sector collaboration in upper secondary school vocational education: experiences from two industrial towns in Sweden and Norway. Shifting the blame: towards a self-reforming police service in England and Wales.
The impact of information technologies on communication satisfaction and organizational learning in companies in Serbia. Impact of top management leadership styles on ERP assimilation and the role of organizational learning. Hubristic leadership: A review. Coopetition as an entrepreneurial process: Interplay of causation and effectuation. Managerial competencies, innovation and engagement in SMEs: The mediating role of organisational learning.
Diversification of ICT suppliers for technological convergence: An evolutionary perspective on technological changes in automotive industry. Off the shortest path: Betweenness on street network level to study pedestrian movement. What drives innovation? Evidence from economic history. Efficient and fair system states in dynamic transportation networks. Inter-industry labor flows. How does a Grand Challenge Become Displaced? Explaining the Duality of Field Mobilization.
Impact of multilevel boundaries on internationalization: an exposition of region of origin effect. Comprehensive performance measurement and management — innovativeness and performance through reflective practice.
Cultural snapshots: Theory and method. Economics of Innovation and Operations. Three myths of digital media. The antecedents of opportunity recognition in internationalized firms. Determinants of the perceived importance of organisational adaptation to climate change in the Australian energy industry. Must Heads Roll? A repertoire of marketers' trust-building strategies within the sales-marketing interface.
A dual knowledge perspective on the determinants of SME patenting. Contextual, structural and behavioural factors influencing the adoption of industrialised building systems: a review. Key factors influencing the decision to adopt industrialised building systems technology in the Malaysian construction industry: an inter-project perspective. Transnational environmental collective action facing implementation constraints — the case of nutrient leakage in the Baltic Sea Action Plan.
Buyer-supplier relationship decline: A norms-based perspective. Accumulated stock of knowledge and current search practices: The impact on patent quality. Some have to, and some want to: Why firms adopt a post-industrial form. An actor-centric bottom-up view of institutions: Combinatorial knowledge dynamics through the eyes of institutional entrepreneurs and institutional navigators.
Organisational learning capabilities as determinants of social innovation: An empirical study in South Africa. Cognition and policy change: the consistency of policy learning in the advocacy coalition framework. IT usage for enhancing trade show performance: evidence from the aviation services. Learning organization, organizational culture, and affective commitment in Malaysia: A person—organization fit theory.
How much do CEOs really matter? Reaffirming that the CEO effect is mostly due to chance. How to make knowledge resources valuable. Examining Changes in Implementation Intent over Time. Frontiers in spectrum auction design. Leugnung und Ablehnung von Verantwortung.
Networks, Social Capital, and Knowledge Production. Dynamics of the Open Innovation Economy System. Dynamics of Open Innovation. Interaktive Wertsch? Introduction to Man and Machines. Rational Choice and Rational Expectations. Bounded Rationality. Behavioral Economics. Efficient Market Hypothesis. Future Work. Choice set formation for outdoor destinations: The role of motivations and preference discrimination in site selection for the management of public expenditures on protected areas.
Servant Leadership: A New Paradigm. Anchoring Career Guidance in the Mediterranean? Gender Diversity on U. Corporate Boards. Cultural adaptation and socialisation between Western buyers and Chinese suppliers: The formation of a hybrid culture. Dynamics from open innovation to evolutionary change. Individual investors and stock returns.
The effects of collecting and connecting activities on knowledge creation in organizations. Cheap talk, cooperation, and trust in global software engineering. Supply chain uncertainty and environmental management. Exploring various approaches of social innovation: a francophone literature review and a proposal of innovation typology. Value co-destruction in interfirm relationships. Relational capital wealth in an organizational context. Sustaining business networks: Understanding the benefit bundles sought by members of local business associations.
Introduction to Finite Element Model Updating. Researching business interaction: introducing a conceptual framework and methodology.
Integrating lean and green management. Tracing the historical origins of knowledge management issues through referenced publication years spectroscopy RPYS. Old wine in new bottles: docility, attention scarcity and knowledge management.
Structural cycles and industrial policy alignment: the private—public nexus in the Emilian Packaging Valley. Bounded confidence opinion dynamics with opinion leaders and environmental noises.
Data science: supporting decision-making. Beneficiary contact and innovation: The relation between contact with patients and medical innovation under different institutional logics. Experiential Learning and Presidential Management of the U. How and when does speech-acting generate social innovations. The social production of design space. Organizations share three common characteristics: 1 Each has a distinct purpose 2 Each is composed of people 3 Each develops some deliberate structure so members can do their work.
Although these three characteristics are important in defining what an organization is, the concept of an organization is changing. The characteristic of new organizations of today include: flexible work arrangements, employee work teams, open communication systems, and supplier alliances. Organizations are becoming more open, flexible, and responsive to changes. Organizations are changing because the world around them has changed and is continuing to change.
These societal, economic, global, and technological changes have created an environment in which successful organizations must embrace new ways of getting their work done. The Universality of Management: Management is needed in all types and sizes of organizations, at all organizational levels, and in all organizational work areas throughout the world.
The Reality of Work: All employees of an organization either manage or are managed. Rewards and Challenges of Being a Manager Challenges a Managers may have difficulty in effectively blending the knowledge, skills, ambitions, and experiences of a diverse group of employees.
Rewards a Managers have an opportunity to create a work environment in which organizational members can do their work to the best of their ability and help the organization achieve its goals. The manager of today must integrate management skills with new approaches that emphasize the human touch, enhance flexibility, and involve employees. Chapter 2 Management Yesterday and Today Organizations and managers have existed for thousands of years. The Egyptian pyramids and the Great Wall of China were projects of tremendous scope and magnitude, and required good management.
Regardless of the titles given to managers throughout history, someone has always had to plan what needs to be accomplished, organize people and materials, lead and direct workers, and impose controls to ensure that goals were attained as planned. The Industrial Revolution is second important pre-twentieth-century influence on management.
The introduction of machine powers combined with the division of labor made large, efficient factories possible. Planning, organizing, leading, and controlling became necessary activities. There are six major approaches to management. The most important contributor in this field was Frederick W. However, current management practice is not restricted to scientific management practices alone. Elements of scientific management still used include: 1.
Using time and motion studies 2. Hiring best qualified workers 3. Henri Fayol and Max Weber were the two most prominent proponents of the general administrative approach.
Fayol focused on activities common to all managers. He described the practice of management as distinct from other typical business functions. He stated 14 principles of management which are as follows: 1. Division of Work 2. Authority 3. Discipline 4. Unity of Command 5. Unity of Direction 6. Subordination of individual interest to group interest 7. Remuneration 8. Centralization 9. Scalar Chain Order Equity Stability Initiative Espirit de corps Max Weber was a German sociologist who developed a theory of authority structures and described organizational activity based on authority relations.
He described the ideal form of organization as a bureaucracy marked by division of labor, a clearly defined hierarchy, detailed rules and regulations, and impersonal relationships Some current management concepts and theories can be traced to the work of the general administrative theorists. Some bureaucratic mechanisms are necessary in highly innovative organizations to ensure that resources are used efficiently and effectively.
This approach includes applications of statistics, optimization models, information models, and computer simulations. The relevance of quantitative approach today is that it has contributed most directly to managerial decision making, particularly in planning and controlling.
The availability of sophisticated computer software programs has made the use of quantitative techniques more feasible for managers. Organizational behavior OB research has contributed much of what we know about human resources management and contemporary views of motivation, leadership, trust, teamwork, and conflict management.
Their ideas served as the foundation for employee selection procedures, motivation programs, work teams, and organization-environment management techniques. The Hawthorne Studies were the most important contribution to the development of organizational behavior.
After Harvard professor Elton Mayo and his associates joined the study as consultants, other experiments were included to look at redesigning jobs, make changes in workday and workweek length, introduce rest periods, and introduce individual versus group wage plans. The researchers concluded that social norms or group standards were key determinants of individual work behavior.
Although not without criticism concerning procedures, analyses of findings, and the conclusions , the Hawthorne Studies stimulated interest in human behavior in organizational settings.
In the present day context behavioral approach assists managers in designing jobs that motivate workers, in working with employee teams, and in facilitating the flow of communication within organizations. The behavioral approach provides the foundation for current theories of motivation, leadership, and group behavior and development.
A system is a set of interrelated and interdependent parts arranged in a manner that produces a unified whole. The two basic types of systems are open and closed. A closed system is not influenced by and does not interact with its environment. An open system interacts with its environment. Using the systems approach, managers envision an organization as a body with many interdependent parts, each of which is important to the well-being of the organization as a whole.
Managers coordinate the work activities of the various parts of the organization, realizing that decisions and actions taken in one organizational area will affect other areas. The systems approach recognizes that organizations are not self-contained; they rely on and are affected by factors in their external environment.
The contingency approach to management is a view that the organization recognizes and responds to situational variables as they arise.
Globalization: Organizational operations are no longer limited by national borders. Managers throughout the world must deal with new opportunities and challenges inherent in the globalization of business.
Ethics: Cases of corporate lying, misrepresentations, and financial manipulations have been widespread in recent years. Ethics education is increasingly emphasized in college curricula today. Organizations are taking a more active role in creating and using codes of ethics, ethics training programs, and ethical hiring procedures.
Workforce diversity: It refers to a workforce that is heterogeneous in terms of gender, race, ethnicity, age, and other characteristics that reflect differences. Entrepreneurship: It is the process whereby an individual or group of individuals use organized efforts to pursue opportunities to create value and grow by fulfilling wants and needs through innovation and uniqueness, no matter what resources the entrepreneur currently has.
Three important themes stand out in this definition: a. The pursuit of opportunities b. Innovation c. Growth Entrepreneurship will continue to be important to societies around the world. Managing in an E-Business World: E-business electronic business is a comprehensive term describing the way an organization does its work by using electronic Internet-based linkages with its key constituencies in order to efficiently and effectively achieve its goals.
Knowledge Management and Learning Organizations: Change is occurring at an unprecedented rate. Knowledge management involves cultivating a learning culture where organizational members systematically gather knowledge and share it with others in the organization so as to achieve better performance. Quality Management: Quality management is a philosophy of management that is driven by continual improvement and response to customer needs and expectations. Managers must realize that organizational culture and organizational environment have important implications for the way an organization is managed.
The omnipotent view of management maintains that managers are directly responsible for the success or failure of an organization. The influence that managers do have is seen mainly as a symbolic outcome. According to the symbolic view, the actual part that management plays in the success or failure of an organization is minimal. Reality suggests a synthesis; managers are neither helpless nor all powerful. Organizational culture is the shared values, principles, traditions, and ways of doing things that influence the way organizational members act.
It describes, rather than evaluates. Innovation and risk taking the degree to which employees are encouraged to be innovative and take risks b. Attention to detail the degree to which employees are expected to exhibit precision, analysis, and attention to detail c. Outcome orientation the degree to which managers focus on results or outcomes rather than on the techniques and processes used to achieve those outcomes d.
People orientation the degree to which management decisions take into consideration the effect on people within the organization e. Team orientation the degree to which work activities are organized around teams rather than individuals f.
Aggressiveness the degree to which people are aggressive and competitive rather than easygoing and cooperative g. Stability the degree to which organizational activities emphasize maintaining the status quo in contrast to growth Strong versus Weak Cultures Strong cultures are found in organizations where key values are intensely held and widely shared. A culture has increasing impact on what managers do as the culture becomes stronger. Most organizations have moderate-to-strong cultures.
Culture is transmitted and learned by employees principally through stories, rituals, material symbols, and language. Societal values, customs, and tastes can change, and managers must be aware of these changes. In a dynamic environment, components of the environment change frequently. If change is minimal, the environment is called a stable environment. If the number of components and the need for sophisticated knowledge is minimal, the environment is classified as simple.
If a number of dissimilar components and a high need for sophisticated knowledge exist, the environment is complex. As uncertainty is a threat to organizational effectiveness, managers try to minimize environmental uncertainty.
Chapter 4 Managing in a Global Environment Managers in all types and sizes of organizations must constantly monitor changes and consider the particular characteristics of their own location as they plan, organize, lead, and control in this dynamic environment.
Managers might have one of three perspectives or attitudes toward international business 1. A polycentric attitude is the view that the managers in the host country the foreign country where the organization is doing business know the best work approaches and practices for running their business.
A geocentric attitude is a world-oriented view that focuses on using the best approaches and people from around the globe. Important features of the global environment include regional trading alliances and different types of global organizations. Regional Trading Alliances Regional trading alliances are reshaping global competition.
Competition is no longer limited to country versus country, but region versus region. The European Union EU is a union of 25 European nations created as a unified economic and trade entity a.
The primary motivation for the creation of the EU in February was to allow member nations to reassert their position against the industrial strength of the United States and Japan. The EMU consists of three stages for coordinating economic policy.
Twelve member states of the European Union have entered the third stage of the EMU, in which participating countries share a single currency, the euro. Two additional counties may join the EU by the year Eliminating barriers to free trade tariffs, import licensing require- ments, customs user fees has resulted in a strengthening of the economic power of all three countries.
Colombia, Mexico, and Venezuela signed an economic pact eliminating import duties and tariffs in FTAA was to have been in effect no later than , but has not yet become operational; its future is still undetermined.
In the future, the Southeast Asian region promises to be one of the fastest-growing and increasingly influential economic regions of the world. Membership consists of countries and 32 observer governments as of January The WTO appears to play an important role even though critics are vocal and highly visible.
Different Types of Global Organizations Business has been conducted internationally for many years Multinational corporations did not become popular until the mids. Global organizations can be classified in the following categories: 1.
The term multinational corporation MNC is a broad term that refers to any and all types of international companies that maintain operations in multiple countries. A transnational corporation TNC , sometimes called a borderless organization, is a type of international company in which artificial geographical barriers are eliminated.
Stages of Internationalization An organization that goes international typically progresses through three stages. Companies that go international may begin by using global sourcing also called global outsourcing. In this stage of going international, companies purchase materials or labor from around the world, wherever the materials or labor are least expensive. Beyond the stage of global sourcing, each successive stage to become more international involves more investment and risk. In the next stage, companies may go international by exporting making products domestically and selling them abroad or importing acquiring products made abroad and selling the products domestically.
Both exporting and importing require minimal investment and risk. In the early stages of going international, managers may also use licensing giving another organization the right to make or sell its products using its technology or product specifications or franchising giving another organization the right to use its name and operating methods After an organization has done international business for a period of time, managers may decide to make more of a direct investment in international markets by forming a strategic alliance, which is a partnership between an organization and a foreign company partner s.
In a strategic alliance, partners share resources and knowledge in developing new products or building production facilities.
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