Economics of Strategy

Häftad, Engelska, 2017

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Beskrivning

Economics of Strategy focuses on the key economic concepts students must master in order to develop a sound business strategy. Ideal for undergraduate managerial economics and business strategy courses, Economics of Strategy offers a careful yet accessible translation of advanced economic concepts to practical problems facing business managers. Armed with general principles, today's students--tomorrows future managers--will be prepared to adjust their firms business strategies to the demands of the ever-changing environment.

Produktinformation

Utgivningsdatum:2017-02-03
Mått:213 x 276 x 25 mm
Vikt:959 g
Format:Häftad
Språk:Engelska
Antal sidor:544
Upplaga:7
Förlag:John Wiley & Sons Inc
ISBN:9781119378761

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Innehållsförteckning

INTRODUCTION: STRATEGY AND ECONOMICSWhy Study Strategy?Why Economics?So What’s the Problem?A Framework for StrategyThe BookEndnotesECONOMICS PRIMER: BASIC PRINCIPLESCostsEconomic Costs and ProfitabilityDemand and RevenuesTotal Revenue and Marginal Revenue FunctionsTheory of the Firm: Pricing and Output DecisionsPerfect CompetitionGame TheoryChapter SummaryQuestionsEndnotesPART ONE FIRM BOUNDARIES1 THE POWER OF PRINCIPLES: AN HISTORICAL PERSPECTIVEDoing Business in 1840Doing Business in 1910Doing Business TodayThree Different Worlds: Consistent Principles, Changing Conditions, and Adaptive StrategiesChapter SummaryQuestionsEndnotes2 THE HORIZONTAL BOUNDARIES OF THE FIRMDefinitionsScale Economies, Indivisibilities, and the Spreading of Fixed CostsSpecial Sources of Economies of Scale and ScopeComplementarities and Strategic FitSources of Diseconomies of ScaleThe Learning CurveDiversificationWhy Do Firms Diversify?Managerial Reasons for DiversificationThe Market for Corporate Control and Recent Changes in Corporate GovernancePerformance of Diversified FirmsChapter SummaryQuestionsEndnotes3 THE VERTICAL BOUNDARIES OF THE FIRMMake versus BuyReasons to “Buy”Reasons to “Make”Summarizing Make-or-Buy Decisions: The Make-or-Buy Decision TreeChapter SummaryQuestionsEndnotes4 INTEGRATION AND ITS ALTERNATIVESWhat Does It Mean to Be “Integrated”?GovernanceMaking the Integration DecisionReal-World EvidenceAlternatives to Vertical IntegrationChapter SummaryQuestionsEndnotesPART TWO MARKET AND COMPETITIVE ANALYSIS5 COMPETITORS AND COMPETITIONCompetitor Identification and Market DefinitionMeasuring Market StructureMarket Structure and CompetitionOligopolyEvidence on Market Structure and PerformanceChapter SummaryQuestionsEndnotes6 ENTRY AND EXITSome Facts about Entry and ExitEntry and Exit Decisions: Basic ConceptsEntry-Deterring StrategiesEvidence on Entry-Deterring BehaviorContestable MarketsAn Entry Deterrence ChecklistEntering a New MarketChapter SummaryQuestionsEndnotes7 DYNAMICS: COMPETING ACROSS TIMEMicrodynamicsImpediments to CoordinationAsymmetries among Firms and the Sustainability of Cooperative PricesFacilitating PracticesWhere Does Market Structure Come From?Sutton’s Endogenous Sunk CostsChapter SummaryQuestionsEndnotes8 INDUSTRY ANALYSISPerforming a Five-Forces AnalysisCoopetition and the Value NetApplying the Five Forces: Some Industry AnalysesChapter SummaryQuestionsEndnotesPART THREE STRATEGIC POSITION AND DYNAMICS9 STRATEGIC POSITIONING FOR COMPETITIVE ADVANTAGECompetitive Advantage and Value Creation: Conceptual FoundationsStrategic Positioning: Cost Advantage and Benefit AdvantageDiagnosing Cost and Benefit DriversStrategic Positioning: Broad Coverage versus Focus StrategiesChapter SummaryQuestionsEndnotes10 INFORMATION AND VALUE CREATIONThe “Shopping Problem”Report CardsThe Certifier MarketMatchmakingChapter SummaryQuestionsEndnotes11 SUSTAINING COMPETITIVE ADVANTAGEMarket Structure and Threats to SustainabilityThe Resource-Based Theory of the FirmImpediments to ImitationEarly-Mover AdvantagesImperfect Imitability and Industry EquilibriumCreating Advantage and Creative DestructionInnovation and the Market for IdeasEvolutionary Economics and Dynamic CapabilitiesThe EnvironmentChapter SummaryQuestionsEndnotesPART FOUR INTERNAL ORGANIZATION12 PERFORMANCE MEASUREMENT AND INCENTIVESThe Principal–Agent RelationshipPerformance-Based IncentivesProblems with Performance-Based IncentivesPerformance Measures That Fail to Reflect All Desired ActionsSelecting Performance Measures: Managing Trade-offs between CostsDo Pay-for-Performance Incentives Work?Implicit Incentive ContractsEfficiency Wages and the Threat of TerminationIncentives in TeamsChapter SummaryQuestionsEndnotes13 STRATEGY AND STRUCTUREAn Introduction to StructureTypes of Organizational StructuresStrategy-Environment CoherenceStructure Follows StrategyChapter SummaryQuestionsEndnotes14 ENVIRONMENT, POWER, AND CULTURE 456The Social Context of Firm BehaviorInternal ContextPowerCultureExternal Context, Institutions, and StrategiesChapter SummaryQuestionsEndnotesGLOSSARYNAME INDEXSUBJECT INDEX