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MODELS, ORGANIZATIONS, and FIRMS - PowerPoint PPT Presentation


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MODELS, ORGANIZATIONS, and FIRMS. Instructional Goals: You will understand:. That Markets and organizations are alternative venues for exchange That the choice of venue boils down to a question of information costs

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Presentation Transcript
instructional goals you will understand
Instructional Goals: You will understand:
  • That Markets and organizations are alternative venues for exchange
  • That the choice of venue boils down to a question of information costs
  • Thatthese costs depend upon the trustworthiness of the players and attributes of the market
additional objectives
Additional Objectives:
  • Why organizations now pay more attention to creating value for customers than to inter-organizational rivalry.
  • Why building relationships with customers matters more now than ever before
structure conduct performance vs price theory i
S-C-P

Market structure determines organizational conduct

Organizational conduct determines performance

PT

Game theory.

Transaction cost analysis

Contestable market analysis

Structure-conduct performance vs. price theory I
structure conduct performance vs price theory ii
Structure-conduct performance vs. price theory II
  • Both: Market arrangements reflect customer tastes, wants, and needs
  • S-C-P: Market arrangements/structures are givens
  • PT: Actual market arrangements take the forms that they do because of conscious efforts to create and shape them. They are constantly changing
market power
Market Power
  • Collusion
  • Government protection
  • Superior product-market strategies or tactics;
  • Special knowledge that enables you to make or deliver a product that other organizations cannot imitate or to make it at a lower cost.
transaction cost analysis
Transaction Cost Analysis
  • Institutional arrangements reflect exchange costs:
    • search costs
    • negotiation costs
    • monitoring and enforcement costs
  • These are information costs
  • Reducing them can radically affect organizational designs and market structures
economic revolutions of the 20th century
Economic Revolutions of the 20th Century
  • Bureaucratic revolution -- turn of the century
  • Managerial revolution -- mid-century
  • Marketing revolution -- NOW