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.
This collection examines the forces, both external and internal, that lead corporations to behave efficiently and to create wealth. Corporations vest control rights in shareholders, the author argues, because they are the constituency that bear business risk and therefore have the appropriate incentives to maximize corporate value. Assigning control to any other group would be tantamount to allowing that group to play poker with someone else's money, and would create inefficiencies. The implicit denial of this proposition is the fallacy of the so-called stakeholder theory of the corporation, which argues that corporations should be run in the interests of all stakeholders. This theory offers no account of how conflicts between different stakeholders are to be resolved, and gives managers no principle on which to base decisions, except to follow their own preferences. In practice, shareholders delegate their control rights to a board of directors, who hire, fire, and set the compensation of the chief officers of the firm. However, because agents have different incentives than the principals they represent, they can destroy corporate value unless closely monitored. This happened in the 1960s and led to hostile takeovers in the market for corporate control in the 1970s and 1980s. The author argues that the takeover movement generated increases in corporate efficiency that exceeded $1.5 trillion and helped to lay the foundation for the great economic boom of the 1990s.
This collection examines the forces, both external and internal, that lead corporations to behave efficiently and to create wealth. Corporations vest control rights in shareholders, the author argues, because they are the constituency that bear business risk and therefore have the appropriate incentives to maximize corporate value. Assigning control to any other group would be tantamount to allowing that group to play poker with someone else's money, and would create inefficiencies. The implicit denial of this proposition is the fallacy of the so-called stakeholder theory of the corporation, which argues that corporations should be run in the interests of all stakeholders. This theory offers no account of how conflicts between different stakeholders are to be resolved, and gives managers no principle on which to base decisions, except to follow their own preferences. In practice, shareholders delegate their control rights to a board of directors, who hire, fire, and set the compensation of the chief officers of the firm. However, because agents have different incentives than the principals they represent, they can destroy corporate value unless closely monitored. This happened in the 1960s and led to hostile takeovers in the market for corporate control in the 1970s and 1980s. The author argues that the takeover movement generated increases in corporate efficiency that exceeded $1.5 trillion and helped to lay the foundation for the great economic boom of the 1990s.
An innovation classic. From Steve Jobs to Jeff Bezos, Clay Christensen’s work continues to underpin today’s most innovative leaders and organizations. A seminal work on disruption—for everyone confronting the growth paradox. For readers of the bestselling The Innovator’s Dilemma—and beyond—this definitive work will help anyone trying to transform their business right now. In The Innovator’s Solution, Clayton Christensen and Michael Raynor expand on the idea of disruption, explaining how companies can and should become disruptors themselves. This classic work shows just how timely and relevant these ideas continue to be in today’s hyper-accelerated business environment. Christensen and Raynor give advice on the business decisions crucial to achieving truly disruptive growth and propose guidelines for developing your own disruptive growth engine. The authors identify the forces that cause managers to make bad decisions as they package and shape new ideas—and offer new frameworks to help create the right conditions, at the right time, for a disruption to succeed. This is a must-read for all senior managers and business leaders responsible for innovation and growth, as well as members of their teams. Based on in-depth research and theories tested in hundreds of companies across many industries, The Innovator’s Solution is a necessary addition to any innovation library—and an essential read for entrepreneurs and business builders worldwide.
The sixth edition of Financial Management provides students with an overview of financial management suited to the first course in finance. The focus of the text is on the big picture, providing an introduction to financial decision making grounded in current financial theory and the current state of world economic conditions. Attention is paid to both valuation and capital markets, as well as their influence on corporate financial decisions. The 10 basic principles of finance are introduced in the first chapter and woven throughout the text, to give students a solid foundation from which to build their knowledge of finance. The goal of this text is to go beyond teaching the tools of a discipline or a trade and help students gain a complete understanding of the subject. This will give them the ability to apply what they have learnt to new and as yet unforeseen problems—in short, to educate students in finance.
Clayton Christensen’s definitive works on innovation—offered together for the first time Will you fall victim to disruptive innovation—or become a disruptor yourself? Tip the odds in your favor with the bestselling books that have made Christensen one of the world’s foremost authorities on innovation. You’ll also get his award-winning HBR article, full of inspiration for finding meaning and happiness in your life using the principles of business. The 4-volume collection includes: The Innovator’s Dilemma: When New Technologies Cause Great Firms to Fail In one of the most influential business books of our time, Christensen introduced the world to the concept of disruptive innovation, showing how even the most outstanding companies can do everything right—yet still lose market leadership. Don’t repeat their mistakes. The Innovator’s Solution: Creating and Sustaining Successful Growth Citing in-depth research and theories tested in hundreds of companies across many industries, Christensen and co-author Michael Raynor provide the tools organizations need to become disruptors themselves. The Innovator's DNA: Mastering the Five Skills of Disruptive Innovators Christensen and coauthors Jeffrey Dyer and Hal Gregersen identify behaviors of the world’s best innovators—from leaders at Amazon and Apple to those at Google, Skype, and the Virgin Group—to show how you and your team can unlock the code to generating and executing more innovative ideas. “How Will You Measure Your Life?” (HBR article) At Harvard Business School, Clayton Christensen teaches aspiring MBAs how to apply management and innovation theories to build stronger companies. But he also believes that these models can help people lead better lives. In this award-winning Harvard Business Review article, he explains how, exploring questions everyone needs to ask: How can I be happy in my career? How can I be sure that my relationship with my family is an enduring source of happiness? And how can I live my life with integrity?
Porter was the first to bridge the field of industrial organization with the field of management, effectively forging the new field of competitive strategy.
This text is a complete resource for all the imaging technologies, not just plain film radiography. It provides introductory material on pharmacological nomenclature, drug classifications, pharmacokinetics, and drugs used in imaging. It also offers comprehensive coverage of diagnostic contrast agents, along with drug administration procedures, emergency responses to drug reactions, and legal and ethical aspects of medication administration. Objectives and Key Terms open each chapter. Learning exercises include true/false, fill-in-the-blank, multiple-choice, and short-answer questions at the end of each chapter, with answers at the end of the book. Did You Know? boxes offer interesting tidbits of historical or current pharmacology information, connecting the book's drug content to everyday situations. Clinical Alert icons point out possible adverse reactions and toxic effects. Discussion of pharmacodynamics and drug classifications focuses on radiopaque contrast media used in imaging procedures, using clearly written text and useful tables. Pharmacokinetics coverage describes how drugs are absorbed, metabolized, distributed, and eliminated. Complete coverage of emergency procedures in response to adverse reactions to contrast media includes crash cart procedures and drugs used to treat cardiac and/or respiratory arrest and how to administer them appropriately. Updates on all contrast agents. New information on the use of contrast agents in ultrasound. New Drug Classifications chapter. New chapter on drug-related emergencies includes case studies. Evolve Resources for instructors include a 220-question test bank and an electronic image collection.
Introduction to Homeland Security, Third Edition provides the latest developments in the policy and operations of domestic security efforts of the agencies under the U.S. Department of Homeland Security. This includes the FBI, Secret Service, FEMA, the Coast Guard, TSA and numerous other federal agencies responsible for critical intelligence, emergency response, and the safety and security of U.S. citizens at home and abroad. Changes in DHS and domestic security are presented from pre-September 11, 2001 days, to include the formation of DHS under President George W. Bush, all the way through to the current administration. Through this, the many transformative events are looked at through the lens of DHS’s original establishment, and the frequent changes to the various agencies, organization, reporting structure, funding, and policies that have occurred since. This new edition is completely updated and includes coverage of topics relevant to homeland security operations not covered in any other text currently available. This includes highlighting the geopolitical context and the nature of global terrorism—and their implications—specifically as they relate to threats to the United States. Partnerships and collaboration with global allies are highlighted in the context of their relevance to international trade, domestic policies, training, and security. The book ends with a look at emerging threats and potential new, creative solutions—and initiatives in-process within the government—to respond to and address such threats. Key Features: Explores the history and formation of the Department of Homeland Security, recent developments, as well as the role and core missions of core agencies within DHS Outlines man-made threats, intelligence challenges, and intra-agency communication, planning, and operations Looks critically at the role of geopolitical dynamics, key international allies, and their influence on domestic policy and decision-making Covers the latest developments in programs, legislation, and policy relative to all transportation and border security issues Examines current issues and emerging global threats associated with extremism and terrorism Addresses natural and man-made disasters and the emergency management cycle in preparing for, mitigating against, responding to, and recovering from such events Introduction to Homeland Security, Third Edition remains the premier textbook for criminal justice, homeland security, national security, and intelligence programs in universities and an ideal reference for professionals as well as policy and research institutes.
The New York Times bestseller and seminal work on disruption—for every company seeking new growth. Clayton Christensen's bestselling book, The Innovator's Dilemma, introduced the groundbreaking idea of disruptive innovation, revealing how even well-run companies can do everything right and yet still lose market leadership. In The Innovator's Solution, Clayton Christensen and Michael Raynor expand on the idea of disruption, explaining how companies can and should become disruptors themselves. Now with a foreword by innovation expert Scott Anthony, this classic work shows just how timely and relevant these ideas continue to be in today's hyper-accelerated business environment and will help anyone trying to transform their business right now. Christensen and Raynor give advice on the business decisions crucial to achieving truly disruptive growth and propose guidelines for developing your own disruptive growth engine. The authors identify the forces that cause managers to make bad decisions as they package and shape new ideas—and offer new frameworks to help create the right conditions, at the right time, for a disruption to succeed. This is a must-read for all senior managers and business leaders responsible for innovation and growth, as well as for members of their teams. Based on in-depth research and theories tested in hundreds of companies across many industries, The Innovator's Solution is a necessary addition to any innovation library—and an essential read for entrepreneurs and business builders worldwide.
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.
The first book on Prognostics and Health Management of Electronics Recently, the field of prognostics for electronic products has received increased attention due to the potential to provide early warning of system failures, forecast maintenance as needed, and reduce life cycle costs. In response to the subject's growing interest among industry, government, and academic professionals, this book provides a road map to the current challenges and opportunities for research and development in Prognostics and Health Management (PHM). The book begins with a review of PHM and the techniques being developed to enable a prognostics approach for electronic products and systems. building on this foundation, the book then presents the state of the art in sensor systems for in-situ health and usage monitoring. Next, it discusses the various models and algorithms that can be utilized in PHM. Finally, it concludes with a discussion of the opportunities in future research. Readers can use the information in this book to: Detect and isolate faults Reduce the occurrence of No Fault Found (NFF) Provide advanced warning of system failures Enable condition-based (predictive) maintenance Obtain knowledge of load history for future design, qualification, and root cause analysis Increase system availability through an extension of maintenance cycles and/or timely repair actions Subtract life cycle costs of equipment from reduction in inspection costs, down time, and inventory Prognostics and Health Management of Electronics is an indispensable reference for electrical engineers in manufacturing, systems maintenance, and management, as well as design engineers in all areas of electronics.
Since the attacks of 9/11, billions of dollars and countless resources have been committed and expended in the attempt to make the nation more secure. Introduction to Homeland Security: Second Edition is written by a team of homeland security and justice professionals on the cutting edge of the field. The text is a comprehensive examination of current and future challenges and explores how the United States has chosen to confront these threats with both its military and civilian agencies. Topics include: A history of homeland security in the United States The mission of the various agencies in the Department of Homeland Security and Department of Defense The foundations of emergency management: mitigation/prevention, preparedness, response, and recovery Inter-agency planning and cooperation and private partnership A survey of the most significant natural disasters and accidents, explored through case studies International and domestic terrorism and threat groups The impact of transportation and border security issues and the violence occurring in the Southwest Globalization and the role of intelligence in homeland security Future challenges in the field of homeland security Each chapter begins with objectives and ends with a summary, key terms, and discussion questions. Ample references encourage further study and research. The book is a premier text for criminal justice, homeland security, national security, and intelligence programs in universities and an ideal reference for professionals as well as policy and research institutes.
50th Anniversary Edition of the groundbreaking case-based pharmacotherapy text, now a convenient two-volume set. Celebrating 50 years of excellence, Applied Therapeutics, 12th Edition, features contributions from more than 200 experienced clinicians. This acclaimed case-based approach promotes mastery and application of the fundamentals of drug therapeutics, guiding users from General Principles to specific disease coverage with accompanying problem-solving techniques that help users devise effective evidence-based drug treatment plans. Now in full color, the 12th Edition has been thoroughly updated throughout to reflect the ever-changing spectrum of drug knowledge and therapeutic approaches. New chapters ensure contemporary relevance and up-to-date IPE case studies train users to think like clinicians and confidently prepare for practice.
The book is concerned with the theory of portfolios, as well as with investing in assets and securities and offers a general introduction, rather than a toolbox for making money. It will help its readers to better understand investing. The book is structured in two parts. Part I introduces the student into fundamental principles of portfolio theory and investment analysis, such as the Markowitz portfolio selection approach, factor models, basic evaluation techniques and portfolio management. Part II extends the material to more advanced topics and focuses on inefficient markets, including topics including technical analysis and momentum effects, behavioural finance, bubbles and herding, portfolio management in inefficient markets and market microstructure. followed by an appendix consisting of primers to some econometric approaches.
Safe Water in Healthcare: A Practical and Clinical Guide enables users from different disciplines to understand all types of waterborne hazards that can pose a risk to those who might be exposed, the events which cause them to be present, what may precipitate an increase in their levels that may cause harm, and how they can be avoided or managed to reduce risk. The handbook highlights microorganisms that can cause infections, modes of transmission, the infections they cause, and risks. The book's authors draw from their extensive practical experience assisting with day-to-day problems that range from minor issues to outbreaks. The book includes case studies on the growth of biofilms and where they cause problems in water systems as well as providing practical answers to a majority of issues that arise in healthcare water and drainage systems. This is an accessible handbook that fills the gaps for those without technical knowledge for a complex but important area of infection control. It provides practical guidance for professionals who are required to design, manage and maintain water systems and help them manage associated infection outbreaks. Discusses waterborne pathogens, their detection, identification and surveillance and describes the extent and range of recognized and emerging waterborne microorganisms as well as the diseases that occur and consequences to patients and staff Covers hazards that can cause harm within water systems and associated equipment, the circumstances or factors that increase the risks, and the multiple modes of transmission of waterborne pathogens Explains the importance of good design, including the type of design, management, hardware and software that can help manage and control the presence of waterborne pathogens. Highlights who needs to be involved at each stage to ensure that patients are kept safe from waterborne pathogens, taking into account current legislation and best practices guidance
Designing Healthcare That Works: A Sociotechnical Approach takes up the pragmatic, messy problems of designing and implementing sociotechnical solutions which integrate organizational and technical systems for the benefit of human health. The book helps practitioners apply principles of sociotechnical design in healthcare and consider the adoption of new theories of change. As practitioners need new processes and tools to create a more systematic alignment between technical mechanisms and social structures in healthcare, the book helps readers recognize the requirements of this alignment. The systematic understanding developed within the book’s case studies includes new ways of designing and adopting sociotechnical systems in healthcare. For example, helping practitioners examine the role of exogenous factors, like CMS Systems in the U.S. Or, more globally, helping practitioners consider systems external to the boundaries drawn around a particular healthcare IT system is one key to understand the design challenge. Written by scholars in the realm of sociotechnical systems research, the book is a valuable source for medical informatics professionals, software designers and any healthcare providers who are interested in making changes in the design of the systems. Encompasses case studies focusing on specific projects and covering an entire lifecycle of sociotechnical design in healthcare Provides an in-depth view from established scholars in the realm of sociotechnical systems research and related domains Brings a systematic understanding that includes ways of designing and adopting sociotechnical systems in healthcare
The Compendium of Organic Synthetic Methods series facilitates the working chemist's search for the most useful functional group transformations in organic chemistry. Drawn from an exhaustive survey of the literature, Compendium of Organic Synthetic Methods, Volume 12 contains both functional group transformations and carbon-carbon bond-forming reactions. Author Michael Smith adheres to stringent criteria for listing reactions, including real synthetic utility and reagents that are either readily available or easily prepared and handled in the laboratory. A clear organizational scheme-chemical transformations classified first by reacting functional group of starting material, then by functional group formed-allows for quick reference and information retrieval. Compendium of Organic Synthetic Methods, Volume 12 provides an unparalleled source of information on the methods, reactions, and transformations in contemporary organic chemistry for the working chemist and student alike.
The Compendium of Organic Synthetic Methods serves as a handy desktop reference for organic chemists to browse new reactions and transformations of interest, facilitating the search for functional group transformations in the original literature of organic chemistry. Volume 13 contains both functional group transformations and carbon-carbon bond forming reactions from the literature in the years 2005-8. It presents examples of published reactions for the preparation of monofunctional compounds. The Compendium of Organic Synthetic Methods series facilitates the search for quality, selected functional group transformations, organized by reacting functional group of starting material and functional group formed, with full references to each reaction Presents examples of published reactions for the preparation of monofunctional compounds from the literature of 2005-8 Provides a handy reference and a valuable tool to the working organic chemist, allowing a quick check of known organic transformations Stringent criteria for inclusion of reactions, including real synthetic utility of reactions, reagents readily available or easily prepared and handled in the laboratory
Since its first publication, Michael J. Mauboussin's popular guide to wise investing has been translated into eight languages and has been named best business book by BusinessWeek and best economics book by Strategy+Business. Now updated to reflect current research and expanded to include new chapters on investment philosophy, psychology, and strategy and science as they pertain to money management, this volume is more than ever the best chance to know more than the average investor. Offering invaluable tools to better understand the concepts of choice and risk, More Than You Know is a unique blend of practical advice and sound theory, sampling from a wide variety of sources and disciplines. Mauboussin builds on the ideas of visionaries, including Warren Buffett and E. O. Wilson, but also finds wisdom in a broad and deep range of fields, such as casino gambling, horse racing, psychology, and evolutionary biology. He analyzes the strategies of poker experts David Sklansky and Puggy Pearson and pinpoints parallels between mate selection in guppies and stock market booms. For this edition, Mauboussin includes fresh thoughts on human cognition, management assessment, game theory, the role of intuition, and the mechanisms driving the market's mood swings, and explains what these topics tell us about smart investing. More Than You Know is written with the professional investor in mind but extends far beyond the world of economics and finance. Mauboussin groups his essays into four parts-Investment Philosophy, Psychology of Investing, Innovation and Competitive Strategy, and Science and Complexity Theory-and he includes substantial references for further reading. A true eye-opener, More Than You Know shows how a multidisciplinary approach that pays close attention to process and the psychology of decision making offers the best chance for long-term financial results.
The completely revised and updated, definitive resource for students and professionals in organic chemistry The revised and updated 8th edition of March's Advanced Organic Chemistry: Reactions, Mechanisms, and Structure explains the theories of organic chemistry with examples and reactions. This book is the most comprehensive resource about organic chemistry available. Readers are guided on the planning and execution of multi-step synthetic reactions, with detailed descriptions of all the reactions The opening chapters of March's Advanced Organic Chemistry, 8th Edition deal with the structure of organic compounds and discuss important organic chemistry bonds, fundamental principles of conformation, and stereochemistry of organic molecules, and reactive intermediates in organic chemistry. Further coverage concerns general principles of mechanism in organic chemistry, including acids and bases, photochemistry, sonochemistry and microwave irradiation. The relationship between structure and reactivity is also covered. The final chapters cover the nature and scope of organic reactions and their mechanisms. This edition: Provides revised examples and citations that reflect advances in areas of organic chemistry published between 2011 and 2017 Includes appendices on the literature of organic chemistry and the classification of reactions according to the compounds prepared Instructs the reader on preparing and conducting multi-step synthetic reactions, and provides complete descriptions of each reaction The 8th edition of March's Advanced Organic Chemistry proves once again that it is a must-have desktop reference and textbook for every student and professional working in organic chemistry or related fields. Winner of the Textbook & Acadmic Authors Association 2021 McGuffey Longevity Award.
This bestselling reference bridges the gap between the introductory and highly specialized books dealing with aspects of food biochemistry for undergraduate and graduate students, researchers, and professionals in the fi elds of food science, horticulture, animal science, dairy science and cereal chemistry. Now fully revised and updated, with contributing authors from around the world, the third edition of Biochemistry of Foods once again presents the most current science available. The first section addresses the biochemical changes involved in the development of raw foods such as cereals, legumes, fruits and vegetables, milk, and eggs. Section II reviews the processing of foods such as brewing, cheese and yogurt, oilseed processing as well as the role of non-enzymatic browning. Section III on spoilage includes a comprehensive review of enzymatic browning, lipid oxidation and milk off-flavors. The final section covers the new and rapidly expanding area of rDNA technologies. This book provides transitional coverage that moves the reader from concept to application. Features new chapters on rDNA technologies, legumes, eggs, oilseed processing and fat modification, and lipid oxidation Offers expanded and updated material throughout, including valuable illustrations Edited and authored by award-winning scientists
Most economic theory assumes a pure capitalism of perfect competition. This book is a penetrating critique of the rhetoric and practice of conventional economic theory. It explores how even in the United States—the most capitalist of countries—the market has always been subject to numerous constraints. Perelman examines the way in which these constraints have been defended by such figures as Henry Ford, J. P. Morgan, and Herbert Hoover, and were indeed essential to the expansion of U.S. capitalism. In the process, he rediscovers the critical element in conservative thought—the “forgotten traditions of railroad economics”—that has been lost in the neoliberal present. This important and original historical reconstruction points the way to a discipline of economics freed from the mythology of the market.
The definitive books on one of the most influential business ideas of our time, disruptive innovation. His work is cited by the world's best-known thought leaders, from Steve Jobs to Malcolm Gladwell. In these classic bestsellers, innovation expert Clayton Christensen shows how even the most outstanding companies can do everything right—yet still lost market leadership. In The Innovator's Dilemma, Christensen presents his theory of disruptive innovation and explains that, no matter the industry, a successful company with established products will get pushed aside unless managers know how and when to abandon traditional business practices. In The Innovator's Solution, Christensen and his coauthor, Michael Raynor, expand on the idea of disruption, showing how companies can and should become disruptors themselves. Sharp, cogent, and provocative, these are the two books that no manager, leader, or entrepreneur should be without.
Spectral Data for Steroids provides a comprehensive compilation of spectral data for 211 steroids. The compounds are arranged on the basis of their molecular structures:
Through a practical, integrated approach, this text offers a concise and accessible introduction to Human Resource Management. Contemporary and up-to-date, with engaging cases and activities throughout, readers are fully involved in the learning process, with exercises and questions introducing them to important topics.
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