How do markets evolve? Why are some innovations picked up straightaway whilst others take years to be commercialized? Are there first-mover advantages? Why do we behave with 'irrational exuberance' in the early evolution of markets as was the case with the dot.com boom? Paul Geroski is a leading economist who has taught economics to business school students, managers, and executives at the London Business School. In this book he explains in a refreshingly clear style how markets develop. In particular he stresses how the early evolution of markets can significantly shape their later development and structure. His purpose is to show how a good grasp of economics can improve managers' business and investment decisions. Whilst using the development of the Internet as a case in point, Geroski also refers to other sectors and products, for example cars, television, mobile phones, and personal computers. This short book is an ideal introduction for managers, MBA students, and the general reader wanting to understand how markets evolve.
A revised and updated textbook that integrates new approaches alongside a critical exposition of neoclassical theory. While the first edition presented the work of the Austrian School as the counter to the traditional (neoclassical) paradigm, the second edition widens the theoretical approaches considered to encompass all the major variants of what is becoming known as the new institutional economics, with, in particular, more attention being given to transaction cost economics. Paper edition (unseen), $15. Annotation copyright by Book News, Inc., Portland, OR
The Dynamics of Industrial Competition describes the internal dynamics of industries using new and unique longitudinal data that make it possible to track firms over time. It provides a comprehensive picture of a number of aspects of firm turnover in North America that arise from the competitive process - the entry and the exit of firms, the growth and the decline of incumbent firms, and the merger process. Instantaneous and cumulative measures of market dynamics are provided. Since the forces contributing to competition are varied and industries are affected by heterogeneous forces, different aspects of firm turnover are considered in order to provide a comprehensive overview of the competitive process. Entry is divided into that portion coming from the creation of new plants and that portion arising from the acquisition of existing firms. Differences are drawn between the effects of related and unrelated acquisitions and between the effects of take-overs made by domestic and foreign firms. Differences between large- and small-firm activity are also investigated. The effects of turnover on productivity, efficiency, wage rates, and profitability are extensively model led. Using various measures of firm turnover to proxy the amount of competition, the study examines and contextualizes the relationship between industry performance and the intensity of the competitive process.
Many people set out to achieve a dream-starting a business or learning to play the piano or publishing a book-but they don't succeed, and the dream fizzles away. In many cases, these people have lots of skills and expertise, such as deep knowledge of the business or career they are interested in, so why don't they succeed? Paul Levesque and Art McNeil have discovered that making a dream come true requires cultivating skills of a higher order-macroskills-that inevitably spell the difference between success and failure no matter what the specifics of a person's dreams are. These are the skills Dreamcrafting outlines in detail.
This book deserves to be widely read. . .' - Brian Garrod, Environmental Politics 'The issues dealt with in Paul Koutstaal's analysis are unquestionably highly topical and of great importance, in particular to the fossil fuel energy sector.' - Benito Müller, Journal of Energy Literature Economic Policy and Climate Change focuses on the design, implementation and consequences of a feasible system of tradable carbon permits to reduce greenhouse gas emissions within the context of the European Union.
Economics has not given sufficient attention to the microeconomic analysis of innovation and technological change. Counteracting this imbalance, The Microeconomics of Product Innovation considers how the use of economic analysis can guide and inform the search for insight in the generation and adoption of new products synonymously labelled product innovation. Written in an accessible tone and restricting its analysis to the use of microeconomics, this book encompasses the definition of product innovation. It explores means of measurement and revealed patterns of the extent of product innovation; the economic analysis of the forces driving the demand for, the supply of, and incentives to generate new products; empirical evidence upon the determinants of the extent of product innovation; the diffusion of product innovations; product innovation and firm performance; price measurement under product innovation; product innovation and welfare; and public policy and product innovation.
This is a highly structured & fully developed practical companion to Fifield's successful 'Marketing Strategy'. It can however stand alone for those executives whose needs are for guidance on implementing marketing strategy rather than doing the background thinking and covering the key conceptual issues.
Technology-focused acquisitions are an important complement to the firm’s internal product development efforts. There is considerable heterogeneity when comparing individual technology-focused acquisitions – especially with respect to acquisition timing and the deal value. To resolve some of this heterogeneity the author introduces the novel distinction between performance- and functionality-focused acquisitions. He characterizes this distinction based on a theoretical analysis, a qualitative study, and turns to a sample of acquisitions in the field of artificial intelligence for the quantitative study. There are two key findings. First, performance-focused acquisitions take place earlier in a target’s life cycle than functionality-focused ones. Second, the deal value is – at a comparable stage in a target’s life cycle – higher for performance-focused acquisitions. This thesis is relevant for management scholars and managers alike: Scholars learn about the implications of the distinction between performance- and functionality-focused acquisitions on markets for technology. Managers gain insights into how this distinction may guide their strategic decision making.
Labour economics as a discipline has changed dramatically in recent years. Gone are the days of a "job for life". These days, firms and employees are part of a less regulated, more fluid, and more international labour market. Knowledge, training, human resource development and human capital are all major factors on the contemporary scene. This new textbook is the first properly international textbook to reflect these swingeing changes. Its key areas of concentration include: the increasing importance of human capital including education and occupational choice the major subdivision of personnel economics including economic inactivity and absenteeism comparative cross country studies and the impact of globalization and migration on national labour markets equal opportunities and issues of discrimination on the basis of race, gender and disability conflict at work, including both strikes and, uniquely, individual disputes. Other issues explored include the supply and demand of labour, wages, the current role of trade unions, bargaining and conflict, and working time. The book is written in a clear, accessible way with some mathematical exposition, reflecting the text’s grounding in current microeconomic theory. The book also contains case studies designed to illuminate theoretical concepts and exercises and discussion questions to test the students understanding of the various concepts outlined in the text.
Much of the existing economic literature on innovation has taken a particularly functional viewpoint as to what innovation might be. This book explores 'soft innovation', found in the creative industries such as publishing, film-making, advertising, and architecture, which has been, hitherto, ignored in innovation studies.
During the 1980s Britain became one of the world's most market-oriented economies, an approach which resulted in three severe recessions and a deepening degree of inequality. This book argues that a rebalancing of the economy will remain elusive until proactive policies are implemented at the corporate and industrial level.
Written by a highly regarded expert on entrepreneurship, this bestselling textbook provides an engaging and comprehensive overview of corporate entrepreneurship. Now in its fourth edition and fully revised throughout, this accessible text is structured in four key parts that cover everything a student needs to know about the topic. After an initial consideration of what constitutes corporate entrepreneurship and innovation, the author then guides students through the four pillars of entrepreneurial architecture: culture, structure, leadership and strategy. The third section focusses on the entrepreneurial mind-set, including how to encourage creativity, business ideas and developing concepts. Finally, the book draws attention to corporate venturing, examining venture teams, intrapreneurs, market development and the role of shareholder value. It is no longer sufficient for businesses to grow simply by cutting costs and taking over competitors. To achieve true success, organisations must avoid an ageing product or service portfolio to bring new, innovative ideas to market. Corporate entrepreneurship is inherently risky and therefore requires a fresh approach to strategy. The approach Paul Burns offers will successfully overcome barriers to launching new ideas, internal challenges of managing creativity and show how to foster an entrepreneurial culture. This is the go-to textbook for all students studying Corporate Entrepreneurship, Intrapreneurship or Corporate Venturing at undergraduate, postgraduate or MBA level. The book is also essential reading for courses on Strategic Entrepreneurship and Innovation. New to this Edition: - Fully revised and updated content throughout with new four-part structure - Brand new case studies in every chapter, featuring some of the world's highest profile companies from across the globe - A greater focus on innovation, including a new chapter on this topic at the start of the book - New chapters on 'Developing a Business Model', 'Managing Change' and 'Managing Risk' - New on-page glossary with key terms highlighted in the text and defined in the margins - New Activities and Group Discussion topics at the end of each chapter
This volume provides a history of the domination of the Big Four in the Chinese accounting industry, explaining why China was unable to keep the market for its own accounting firms. The book details how easy access to U.S. capital markets led to major accounting scandals, and a clash between U.S. and Chinese regulators.
Management is a fragmented and interdisciplinary area of study, with a lot of academic branches. Willman argues this tree is narrower at its roots, and these roots lie primarily in social science. Key to the purpose of the book is to present management theory as applied social science. Developed out of a core management course at Master's level, this book introduces the field to students who may have little prior knowledge of management. Willman interprets 'management' broadly to embrace the sub-disciplines of strategy, finance, accounting, marketing, organisational behaviour and operations management. The text aims to show how they arose and how they relate, thus engaging the reader in a little history. The book is integrative, in that it seeks to find common concerns in disparate literatures. It is also critical in that it seeks to comparatively evaluate contributions to the management field both in terms of theoretical contribution and practical impact. It is intended to be accessible to a range of readers, presenting technical materials in an informal way. Finally, it is introductory in that it assumes no previous knowledge of the academic management field.
WINNER of the British Agricultural History Society's 2022 Thirsk Prize WINNER of the 2022 CHOICE Outstanding Academic Title Award An investigation into farming practices throughout a period of seismic change.
Economic globalization has intensified since the 1980s and created faster channels of international interdependence and an accelerating technology race. In this new asymmetric world economy the EU is facing a dynamic and flexible US system which takes advantage of the global quest for foreign direct investment. Innovation policies in the EU - in particular in Germany - are found to be rather inadequate. There are also new theoretical challenges where a "structural macro model" and a Schumpetrian model of innovation and full employment are presented as new approaches. Besides theoretical challenges the increasing global dynamics raise new problems of international policy coordination which could lead to unsustainable economic globalization.
Based on current thinking and research from the fields of management and psychology, Leadership in the Bible provides guidance about the most effective ways of responding to forty challenging situations you encounter every day. This guidance is grounded in the wisdom of three key figures in Hebrew scriptureAbraham, Joseph, and Moses. It explores how they coped with similar challenges, and it provides recommendations about how to respond to these situations at work or at home. Each chapter ends with an essential lesson, a lesson that was true thousands of years ago and remains so today. Its refreshing to find new approaches [to leadership] that are useful in both our personal and professional lives . . . A worthwhile read for anyone looking to strengthen their skills (Susan Cohn Rockefeller, HuffPost Books). Arnow and Ohana have put the Hebrew Bible back in business. Through their insightful and creative readings, they distill a spiritual business model for the 21st century (Rabbi Lawrence Kushner, Emanu-El scholar at Congregation Emanu-El of San Francisco, author of a score of books on spirituality, Judaism, and kabbalah).
Examines the nature and the mode of operation of the centrally planned economy, assessing its strengths and the weaknesses that eventually led to its demise.
In the new global economy, more countries have opened up to international competition and rapid capital flows. However, in the triad the process of globalization is rather asymmetric. With a rising role of multinational companies there are favorable prospects for higher global growth and economic catching-up, respectively. Theoretical analysis suggests key ingredients of sustained growth, but there is also a new concept of a long-term equilibrium income gap in which convergence is rather unlikely. The analysis also picks up European and US labor market issues in the context of economic globalization and raises the question of which EU policies in the field of labor market reform and of innovation policies are adequate.
Trajectory Management: * moves away from the 'one true way' approach put forward by many business gurus * argues that the search for best practice, best change management, etc. obscures real situations in business * develops principles of right practice for the situation: business is continually evolving and its drivers have to evolve with it. * provides a practical framework and enables diagnosis of where a business trajectory is, and how to sustain or switch trajectories. "Adjusting corporate leadership to different business conditions is key in today's turbulent environment. The systematic review and development of this relationship in Trajectory Management is extremely valuable." Peter A. Wuffli, President of the Group Executive Board, UBS. "In this book, Paul Strebel goes beyond universal best practice that is presumed to apply no matter what the context. He presents the right practice for managing a business trajectory and winning consistently over time." Egon P. Zehnder, Founder, Egon Zehnder International, Inc. "Trajectory Management puts context in its rightful place: at the front, middle and end of business planning and execution. Paul Strebel offers a practical framework to simplify the complex and drive better competitive choices for busy decision makers." John Hofmeister, Director of Human Resources, Shell International B.V. For more on how to use the book see: www.trajectorymanagement.com
Industrial Organization: Markets and Strategies provides an up-to-date account of modern industrial organization that blends theory with real-world applications. Written in a clear and accessible style, it acquaints the reader with the most important models for understanding strategies chosen by firms with market power and shows how such firms adapt to different market environments. It covers a wide range of topics including recent developments on product bundling, branding strategies, restrictions in vertical supply relationships, intellectual property protection, and two-sided markets, to name just a few. Models are presented in detail and the main results are summarized as lessons. Formal theory is complemented throughout by real-world cases that show students how it applies to actual organizational settings. The book is accompanied by a website containing a number of additional resources for lecturers and students, including exercises, answers to review questions, case material and slides.
While polluting industries in the U.S. continue to emit billions of pounds of toxic chemicals into the air, land and water every year, many economists and policy makers argue that environmental regulations stifle economic growth and reduce the standard of living for the American people. This book takes a fresh look at this question through three case studies of highly regulated polluting industries in the Southern California region: metal finishing, wood furniture, and dry cleaning. The case studies are based on a mix of qualitative and quantitative methods, including in-depth interviews with corporate managers and environmental regulators. The authors find that there is no universal pattern for predicting the effects of environmental regulations on industrial competitiveness, but that the outcomes depend on the structure of the industry being regulated, the design of the regulations, and the technologies that are available for compliance. The book is written in straight forward language that is accessible to the non-economist and will prove an essential resource for academics and students of all levels, and professionals and policy makers in the fields of environmental policy and regional economic development.
This new edition of the market-leading textbook by Paul Burns offers an unrivalled holistic introduction to the field of entrepreneurship and valuable guidance for budding entrepreneurs looking to launch their own small business. Drawing on his decades of academic and entrepreneurial experience, the author takes you on a journey through the business life-cycle, from the early stages of start-up, through progressive growth, to the confident strides of a mature business. Combining cutting-edge theory with fresh global examples and lessons from real-life business practice, this accessible and explorative textbook will encourage you to develop the knowledge and skills needed to navigate the challenges faced by today's entrepreneurs. Entrepreneurship and Small Business will help you to: - Learn what makes entrepreneurs tick with brand new Get into the Mindset video interviews and an exploration of entrepreneuial character traits - Seamlessly incorporate multimedia content into your learning with the new Digital Links platform accessed via your smart device - Understand how worldwide events can impact small businesses through incisive analysis of the effects of the COVID-19 pandemic - Grasp how entrepreneurship differs around the globe, with over 100 Case Insights and new examples from a diverse range of countries and industries - Ensure your understanding of the entrepreneurial landscape is up-to-date, with new chapters on recruiting and managing people, and on lean methodologies and business model frameworks. This is the ideal textbook for students taking undergraduate and postgraduate Entrepreneurship or Small Business Management courses, as well as for MBA students.
The liberalization of telecommunications in the USA and Western Europe has given rise to intense debate, both in political and in academic circles. This book gives an insight into related academic research carried out in several European universities and research institutes over the past few years. Various key aspects of this complex field have been studied, such as tariffs, international accounting rates, standards and quality of service, in order to contribute to the shaping of a European telecommunications policy for the future. The action of international organizations, and in particular the European Community, is also scrutinized.
Discover why being a "fast second" is often more financially rewarding than being at the cutting edge. If you get there first, you'll lead the pack, right? Not necessarily! The skill-sets of most established companies, say strategy experts Constantinos Markides and Paul Geroski, are far better suited to scaling up newly created markets pioneered by others (in other words, being "fast seconds") than to creating these markets from scratch. In Fast Second, they explore the characteristics of new markets, describe the skills needed to create and compete in them, and show how these skills match up with different types of companies. Drawing on examples of successful fast-second firms such as Microsoft, Amazon, Canon, JVC, Heinz, and many others, they illustrate how to determine which new markets have the potential to be successful and how to move into them before the competition does, when to make a move into a new market, how to scale up a market, where to position a company in the market, and whether to be a colonizer or a consolidator. Order your copy today!
Drs. Paul L. Kaufman, Albert Alm, Leonard A Levin, Siv F. E. Nilsson, James Ver Hoeve, and Samuel Wu present the 11th Edition of the classic text Adler's Physiology of the Eye, updated to enhance your understanding of ocular function. This full-color, user-friendly edition captures the latest molecular, genetic, and biochemical discoveries and offers you unparalleled knowledge and insight into the physiology of the eye and its structures. A new organization by function, rather than anatomy, helps you make a stronger connection between physiological principles and clinical practice; and more than 1,000 great new full-color illustrations help clarify complex concepts. You can also access the complete contents online at www.expertconsult.com. Deepen your grasp of the physiological principles that underlie visual acuity, color vision, ocular circulation, the extraocular muscle, and much more. Improve your understanding of physiology by referring to this totally updated volume--organized by function, rather than anatomy--and make a stronger connection between physiological principles and clinical practice. Better visualize information with a new, revamped format that includes 1,000 illustrations presented in full-color to better clarify complex concepts and functions. Access the most recent molecular, genetic, and biochemical discoveries affecting eye function, and gain fresh perspectives from a new, international editorial team. Search the entire contents online and download all the illustrations at www.expertconsult.com.
The third edition of this established book brings the reader up to date with the latest repurcussions of new technology upon marketing planning and implementation, and launches a new strategy model (SCORPIO) at the core of the book. As in previous editions, 'Marketing Strategy' strips away the confusion and jargon that surround what ought to be one of the most straightforward areas of modern business. Retaining a clear focus on the relationships between people as the basis of marketing, the book offers analysis of the pivotal role of marketing in the business strategy process. It shows how to: * develop a business strategy * devise a marketing strategy * implement a marketing strategy Providing a good balance between sound theory and practical know-how in an increasingly competitive environment, the book is indispensable for marketing practitioners, general managers and students alike.
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