''Economics of Strategy'' is a textbook by David Besanko, David Dranove, Scott Schaefer, and Mark Shanley. The book offers an economic foundation for strategic analysis. The text was initially published in 1996 by
John Wiley & Sons
John Wiley & Sons, Inc., commonly known as Wiley (), is an American Multinational corporation, multinational Publishing, publishing company that focuses on academic publishing and instructional materials. The company was founded in 1807 and pr ...
and, as of 2017, available in it
seventh edition ''Economics of Strategy'' is one of the leading books of its kind and has earned loyalty both as a classroom tool and as a professional reference book. The signature book covers feature famous
impressionist
Impressionism was a 19th-century art movement characterized by visible brush strokes, open Composition (visual arts), composition, emphasis on accurate depiction of light in its changing qualities (often accentuating the effects of the passage ...
paintings.
The Economics of strategy, 5th édition has been translated into French b
Thierry Burger-Helmchen Julien Pénin and Caroline Hussler, under the title
Principes économiques de stratégie, edited by DeBoeck.
Overview
This influential business book provides a detailed and comprehensive text offering a link between economic theory and business applications. The book uses economic theory to discuss and to quantify popular concepts of modern business strategy. The text is technical in its approach but accessible due to its numerous real-world examples. The examples are drawn from around the globe and cover various business practices from the eighteenth century to modern days. Key economic principles discussed include
economies of scale
In microeconomics, economies of scale are the cost advantages that enterprises obtain due to their scale of operation, and are typically measured by the amount of Productivity, output produced per unit of cost (production cost). A decrease in ...
,
economies of scope
Economies of scope are "efficiencies formed by variety, not volume" (the latter concept is "economies of scale"). In the field of economics, "economies" is synonymous with cost savings and "scope" is synonymous with broadening production/service ...
,
transaction-cost economics,
market entry
Market entry strategy is a planned distribution and delivery method of goods or services to a new target market. In the import and export of services, it refers to the creation, establishment, and management of contracts in a foreign country.
F ...
, and commitment and
agency issues.
[Zitz, A.]
Economics of Strategy, 7th Edition By: David Besanko, David Dranove, Mark Shanley, and Scott Schaefer. Notes By: Anton Zitz
accessed 28 April 2024
Sections
* Part One centers on the boundaries of the firm;
* Part Two discusses
competition
Competition is a rivalry where two or more parties strive for a common goal which cannot be shared: where one's gain is the other's loss (an example of which is a zero-sum game). Competition can arise between entities such as organisms, indi ...
;
* Part Three focuses on
positioning and sustaining advantage; and
* Part Four covers the interface among the
theory of the firm
The theory of the firm consists of a number of economic theories that explain and predict the nature of the firm, company, or corporation, including its existence, behaviour, structure, and relationship to the market. Firms are key drivers in eco ...
,
organization design
Organizational architecture, also known as organizational design, is a field concerned with the creation of roles, processes, and formal reporting relationships in an organization. It refers to architecture metaphorically, as a structure which ...
, and
business strategy
In the field of management, strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's managers on behalf of stakeholders, based on consideration of resources and an assessment of ...
.
See also
*
Business analysis
*
Business model
A business model describes how a Company, business organization creates, delivers, and captures value creation, value,''Business Model Generation'', Alexander Osterwalder, Yves Pigneur, Alan Smith, and 470 practitioners from 45 countries, self-pub ...
*
Competitive advantage
In business, a competitive advantage is an attribute that allows an organization to outperform its competitors.
A competitive advantage may include access to natural resources, such as high-grade ores or a low-cost power source, highly skille ...
*
Management consulting
Management consulting is the practice of providing consulting services to organizations to improve their performance or in any way to assist in achieving organizational objectives. Organizations may draw upon the services of management consultant ...
*
Strategy dynamics
*
Strategic planning
Strategic planning is the activity undertaken by an organization through which it seeks to define its future direction and makes decisions such as resource allocation aimed at achieving its intended goals. "Strategy" has many definitions, but it ...
*
Strategic Management Society
The Strategic Management Society (SMS) is a professional society for the advancement of strategic management. The society consists of nearly 3,000 members representing various backgrounds and perspectives from more than eighty different countries ...
*
Six Forces Model
References
{{reflist
1996 non-fiction books
Popular science books
American non-fiction books
Business books
Wiley (publisher) books