Markets in the Firm

Businesses around the world face increasing turbulence in their economic and social environments. The pace of change in market economies seems to be ever accelerating. In this book, the authors consider some of the implications for management of different views of the firm. They point to the need, in these days of global markets and increased uncertainty, for firms to be flexible and responsive to market-place requirements.

ISBN	0255364059	Pages	100
ISBN13	9780255364058 (What's this?)	Volumes	000
Publisher	Institute of Economic Affairs	Weight (grammes)	138
Imprint	Institute of Economic Affairs	Published in	London
Format	Paperback	Series title	Hobart Papers
Publication date	19 Sep 1997	Height (mm)	140
Library of Congress	HF	Width (mm)	216
DEWEY	658.802	Spine width (mm)	5
DEWEY edition	DC21	Academic level	Undergraduate, Postgraduate, Professional / Scholarly

	Foreword by Colin Robinson	5
	The Authors	8
	Acknowledgements	8
I	Introduction	9
	Heyday of 'Command and Control'	10
	Emergence of Team Working	12
	The Market Process Approach	14
	Using Market Mechanisms in the Firm	17
II	The Changing Nature of Production	19
	Craft Production	21
	Early Factory Production	22
	The Beginnings of Mass Production	22
	Taylorist Mass Production	23
	The End of Taylorism	25
	Implications for Business Organisation	28
	Box: Leading Edge Firms	29
III	Transaction Costs and Contracting	34
	Coase's Starting Point	34
	Contracting for Resources (Transaction Costs)	36
	Williamson's Contribution	38
	The Management Problem	44
IV	Market Principles and the Firm: Some Applications	48
	Koch Industries	48
	The Role of Prices within the Firm	53
	The Role of Enterprise and Management	57
	The McDonald's Formula	61
	The Importance of Incentives	65
	'The Nordstrom Way'	68
	Market Incentives and Limits on Bonuses	69
	Summary	72
	More...

Be the first to write a customer review

A Market Process Approach to Management

Buying options