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Technostructure
Technostructure is the group of technicians, analysts within an organisation (enterprise, administrative body) with considerable influence and control on its economy. The term was coined by the economist John Kenneth Galbraith in '' The New Industrial State'' (1967). It usually refers to managerial capitalism where the managers and other company leading administrators, scientists, or lawyers retain more power and influence than the shareholders in the decisional and directional process.John Kenneth Galbraith, ''The New Industrial State'', p. 71 HMCO 1967 Historical context The power struggle between the technostructure and the shareholders was first evoked by Thorstein Veblen in "The Theory of the Leisure Class" (1899), questioning who, among the managers and the shareholders, should control the enterprise. At the time and until the end of the 1980s, the shareholders, unable to effectively regroup and organise themselves, could not exert enough pressure to effectively counter the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Henry Mintzberg
Henry Mintzberg (born September 2, 1939) is a Canadian academic and author on business and management. He is currently the Cleghorn Professor of Management Studies at the Desautels Faculty of Management of McGill University in Montreal, Quebec, Canada, where he has been teaching since 1968. Early life Mintzberg was born in Montreal, Quebec, Canada, the son of Jewish parents Myer (a manufacturer) and Irene (Wexler) Mintzberg. He completed his undergraduate degree in mechanical engineering at the Faculty of Engineering of McGill University. He completed his Master's degree in Management and PhD from the MIT Sloan School of Management in 1965 and 1968, respectively. Career In 1997, Professor Mintzberg was made an Officer of the Order of Canada. In 1998 he was made an Officer of the National Order of Quebec. He is now a member of the Strategic Management Society. In 2004, he published a book entitled ''Managers Not MBAs'' which outlines what he believes to be wrong with managemen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Kenneth Galbraith
John Kenneth Galbraith (October 15, 1908 – April 29, 2006), also known as Ken Galbraith, was a Canadian-American economist, diplomat, public official, and intellectual. His books on economic topics were bestsellers from the 1950s through the 2000s. As an economist, he leaned toward post-Keynesian economics from an institutionalist perspective. Galbraith was a long-time Harvard faculty member and stayed with Harvard University for half a century as a professor of economics. He was a prolific author and wrote four dozen books, including several novels, and published more than a thousand articles and essays on various subjects. Among his works was a trilogy on economics, ''American Capitalism'' (1952), ''The Affluent Society'' (1958), and '' The New Industrial State'' (1967). Some of his work has been criticized by economists Milton Friedman, Paul Krugman, Robert Solow, and Thomas Sowell. Galbraith was active in Democratic Party politics, serving in the administrations of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ideologies
An ideology is a set of beliefs or philosophies attributed to a person or group of persons, especially those held for reasons that are not purely epistemic, in which "practical elements are as prominent as theoretical ones." Formerly applied primarily to economic, political, or religious theories and policies, in a tradition going back to Karl Marx and Friedrich Engels, more recent use the term as mainly condemnatory. The term was coined by Antoine Destutt de Tracy, a French Enlightenment aristocrat and philosopher, who conceived it in 1796 as the "science of ideas" to develop a rational system of ideas to oppose the irrational impulses of the mob. In political science, the term is used in a descriptive sense to refer to political belief systems. Etymology and history The term ''ideology'' originates from French ''idéologie'', itself deriving from combining (; close to the Lockean sense of ''idea'') and '' -logíā'' (). The term ideology, and the system of ideas asso ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Managerialism
Managerialism is the reliance on professional managers and organizational strategies to run a society. It may be justified in terms of efficiency, or characterized as an ideology. It is a belief system that requires little or no evidence to justify itself. Thomas Diefenbach associates managerialism with a belief in hierarchy. Other scholars have linked managerialism to control, accountability measurement, and a belief in the importance of tightly-managed organizations. Following Enteman's 1993 classic on ''Managerialism: The Emergence of a New Ideology'', American management experts Robert R. Locke and J. C. Spender see managerialism as an expression of a special group – management – that entrenches itself ruthlessly and systemically in an organization. It deprives owners of decision-making power and workers of their ability to resist managerialism. In fact, the rise of managerialism may in itself be a response to people's resistance in society and more specifically to w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Accounting Scandals
Accounting, also known as accountancy, is the measurement, processing, and communication of financial and non financial information about economic entities such as businesses and corporations. Accounting, which has been called the "language of business", measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and regulators. Practitioners of accounting are known as accountants. The terms "accounting" and " financial reporting" are often used as synonyms. Accounting can be divided into several fields including financial accounting, management accounting, tax accounting and cost accounting. Financial accounting focuses on the reporting of an organization's financial information, including the preparation of financial statements, to the external users of the information, such as investors, regulators and suppliers; and management accounting focuses on the measu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Neoliberal
Neoliberalism (also neo-liberalism) is a term used to signify the late 20th century political reappearance of 19th-century ideas associated with free-market capitalism after it fell into decline following the Second World War. A prominent factor in the rise of conservative and libertarian organizations, political parties, and think tanks, and predominantly advocated by them, it is generally associated with policies of economic liberalization, including privatization, deregulation, globalization, free trade, monetarism, austerity, and reductions in government spending in order to increase the role of the private sector in the economy and society. The defining features of neoliberalism in both thought and practice have been the subject of substantial scholarly debate. As an economic philosophy, neoliberalism emerged among European liberal scholars in the 1930s as they attempted to revive and renew central ideas from classical liberalism as they saw these ideas diminish in po ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Employee Retirement Income Security Act
The Employee Retirement Income Security Act of 1974 (ERISA) (, codified in part at ) is a U.S. federal tax and labor law that establishes minimum standards for pension plans in private industry. It contains rules on the federal income tax effects of transactions associated with employee benefit plans. ERISA was enacted to protect the interests of employee benefit plan participants and their beneficiaries by: * Requiring the disclosure of financial and other information concerning the plan to beneficiaries; * Establishing standards of conduct for plan fiduciaries; * Providing for appropriate remedies and access to the federal courts. ERISA is sometimes used to refer to the full body of laws that regulate employee benefit plans, which are mainly in the Internal Revenue Code and ERISA itself. Responsibility for interpretation and enforcement of ERISA is divided among the Department of Labor, the Department of the Treasury (particularly the Internal Revenue Service), and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Milton Friedman
Milton Friedman (; July 31, 1912 – November 16, 2006) was an American economist and statistician who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory and the complexity of stabilization policy. With George Stigler and others, Friedman was among the intellectual leaders of the Chicago school of economics, a neoclassical school of economic thought associated with the work of the faculty at the University of Chicago that rejected Keynesianism in favor of monetarism until the mid-1970s, when it turned to new classical macroeconomics heavily based on the concept of rational expectations. Several students, young professors and academics who were recruited or mentored by Friedman at Chicago went on to become leading economists, including Gary Becker, Robert Fogel, Thomas Sowell and Robert Lucas Jr. Friedman's challenges to what he called "naive Keynesian theory" began with his interpretatio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chicago School (economics)
The Chicago school of economics is a neoclassical school of economic thought associated with the work of the faculty at the University of Chicago, some of whom have constructed and popularized its principles. Milton Friedman and George Stigler are considered the leading scholars of the Chicago school. Chicago macroeconomic theory rejected Keynesianism in favor of monetarism until the mid-1970s, when it turned to new classical macroeconomics heavily based on the concept of rational expectations. The freshwater–saltwater distinction is largely antiquated today, as the two traditions have heavily incorporated ideas from each other. Specifically, new Keynesian economics was developed as a response to new classical economics, electing to incorporate the insight of rational expectations without giving up the traditional Keynesian focus on imperfect competition and sticky wages. Chicago economists have also left their intellectual influence in other fields, notably in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prentice Hall
Prentice Hall was an American major educational publisher owned by Savvas Learning Company. Prentice Hall publishes print and digital content for the 6–12 and higher-education market, and distributes its technical titles through the Safari Books Online e-reference service. History On October 13, 1913, law professor Charles Gerstenberg and his student Richard Ettinger founded Prentice Hall. Gerstenberg and Ettinger took their mothers' maiden names, Prentice and Hall, to name their new company. Prentice Hall became known as a publisher of trade books by authors such as Norman Vincent Peale; elementary, secondary, and college textbooks; loose-leaf information services; and professional books. Prentice Hall acquired the training provider Deltak in 1979. Prentice Hall was acquired by Gulf+Western in 1984, and became part of that company's publishing division Simon & Schuster. S&S sold several Prentice Hall subsidiaries: Deltak and Resource Systems were sold to National Education ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The New Industrial State
''The New Industrial State'' is a 1967 book by John Kenneth Galbraith. Three revised editions appeared in 1972, 1978 and 1985. Discussion In it, Galbraith asserts that within the industrial sectors of modern capitalist societies, the traditional mechanism of supply and demand is supplanted by the planning of large corporations, using techniques such as advertising and, where necessary, vertical integration. The book followed Galbraith's 1966 series of BBC Reith Lectures – a series of six radio broadcasts, also titled ''The New Industrial State'' – in which he explored the economics of production and the effect large corporations could have over the state. Galbraith argues that this is made necessary by the long-term planning required for production processes involving advanced technology (and that these same technological challenges were answered with similar types of planning in Soviet societies) which involve substantial additional risk. One of the results of this is, ac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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