Understand the link between management and economics with this unique text.

Economic Approaches to Organizations, 6th edition, by Sytse Douma and Hein Schreuder, walks you through different economic approaches in a non-technical way, making it widely accessible. Emphasising the importance of economic issues and developments in the study of organisations and management, the text explores topics such as behavioural theory of the firm, game theory, agency theory, transaction cost economics, the economics of strategy and evolutionary approaches.

The book is unique in the market in its attempt to make the link between management and economics, using practical examples throughout to help you understand how the concepts relate to economic and organisational issues in the world today.

The 6th edition is packed with updated examples taken from real life and includes new chapters and sections, like a separate chapter on behavioural economics that covers bounds on rationality and self-interest as well as prospect theory.

Benefit from the features this edition has to offer:

• Use of empirical results and real-world data
• A step-by-step conceptual framework to explain fundamental economic approaches to organisations.
• Real-life examples.
• End-of-chapter questions.
• Quotations.
• Diagrams.
• Further reading and study.
• A range of cases with a global link.

With its unique perspective and range of learning features, this text will provide you with a practical understanding of economic approaches used in organisations today.

Why do organizations exist?

What is the relationship between markets and organizations?

When does one perform better than the other?

Find the answers in Economic Approaches to Organizations!

 

Now in its sixth edition, this text emphasizes the importance of economic perspectives and theories in the study of organisations and management.

 

It explains in a non-technical way different economic approaches such as behavioural theory of the firm, game theory, agency theory, transaction cost economics, economics of strategy and evolutionary approaches.

 

This fully updated edition is packed with practical examples from real-world companies, helping you to understand how the concepts relate to economic and organisational problems happening in the world today.

 

New to this edition:

·    Introduction of digital platforms as coordination mechanism and platform organizations as new organizational type. Economic explanation of the business models of Airbnb, Amazon, Google, Uber and similar platform organizations.

·    A separate chapter on behavioural economics covering bounds on rationality and self-interest as well as prospect theory.

·    An update of the exciting new field of complexity economics focusing on learning and adaptation.

·    Three application chapters on mergers and acquisitions, corporate governance and hybrid forms (for example: joint ventures, business groups and franchising) offered electronically in addition to the material in the book.

 

This is the ideal textbook for courses on Organisation and Management from an economic perspective. The text can also be used as a supplement to a larger text on Organisation and Management or Strategic Management. Economics students will benefit from a concise introduction to a field that is related, but all too often unexplored.

 

Sytse Douma is honorary professor of Business Administration at Tilburg University. 

Hein Schreuder was Executive Vice President of Corporate Strategy and Acquisitions at Royal DSM N.V. until 2012. He is a honorary professor of Business Economics at Maastricht University and Board member of the Vlerick Business School in Belgium. He is also chairman of Ecorys, a leading research-based economic consultancy firm in Europe.