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Foundations of Organizational Strategy

  • Couverture cartonnée
  • 430 Nombre de pages
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Michael C. Jensen is Jesse Isidor Straus Professor of Business Administration Emeritus, Harvard Business School.Texte du rabat In... Lire la suite
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Michael C. Jensen is Jesse Isidor Straus Professor of Business Administration Emeritus, Harvard Business School.

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In this volume, Michael Jensen and his collaborators present the foundations of an integrated theory of organizations. The theory assumes that organizations are equilibrium systems that, like markets, can be influenced, but cannot be told what to do; that human beings are rational and self-interested for the most part; and that information is costly to produce and transfer among agents. The theory also treats business organizations as entities existing in a system of markets (including financial, product, labor, and materials markets) that must be considered in the formulation of organizational strategy.< P>

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.


Part 1 Fundamental building blocks of the theory: the nature of man; self-interest, altruism, incentives and agency theory; theory of the firm - managerial behaviour, agency costs and ownership structure; specific and general knowledge and organizational structure; organization theory and methodology. Part 2 Residual claims and organizational forms: agency problems and residual claims; separation of ownership and control. Part 3 Compensation: compensation and incentives - practice versus theory; performance pay and top-management incentives; CEO incentives - it's not how much you pay, but how. Part 4 Organizational applications of the theory: science, specific knowledge and total quality management; divisional performance measurement.

Informations sur le produit

Titre: Foundations of Organizational Strategy
Code EAN: 9780674005648
ISBN: 978-0-674-00564-8
Format: Couverture cartonnée
Editeur: Harvard University Press
Genre: Management
nombre de pages: 430
Poids: 599g
Taille: H234mm x B156mm x T29mm
Année: 2001
Auflage: Revised.


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