Economics of Strategy / Edition 5

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Overview

In today's global recession, strong management of firms and organizations are of the utmost importance. Best-selling Economics of Strategy focuses on the key economic concepts students must master in order to develop a sound business strategy. Bringing economic theory and strategic analysis to life in an engaging and uniquely modern way, Besanko et al. have collaborated for over 15 years to build an introductory business course that combines basic concepts from economic theory of the firm and industrial organization with ideas from modern strategy literature.

The newly revised 5th edition offers more real-world applications to make materials studied in undergraduate Managerial Economics, Business Strategy, and Industrial Organization courses relevant. Armed with general principles, today's students—tomorrow's future managers—will be prepared to adjust their firms' business strategies to the demands of the ever-changing environment.

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Editorial Reviews

Booknews
Details both the external market environment of firms and their internal organization, for MBA students, advanced undergraduates, students in executive programs, and practicing managers. After a primer on economic concepts for strategy, four sections address the boundaries of the firm; competitive strategy from the perspective of industrial organization economies; strategic positioning and dynamics; and topics associated with internal organization. Boxes illustrate economic models with cases from real companies. Annotation c. Book News, Inc., Portland, OR (booknews.com)
From the Publisher
“…the book seeks to supply an economic lens for viewing the broad sweep of the strategic activities of the firm.” (Times Higher Education Supplement, Thursday 28th February 2008)
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Product Details

  • ISBN-13: 9780470373606
  • Publisher: Wiley
  • Publication date: 8/24/2009
  • Edition description: Older Edition
  • Edition number: 5
  • Pages: 624
  • Product dimensions: 8.20 (w) x 10.10 (h) x 1.10 (d)

Meet the Author

David Besanko, PhD, is the Alvin J. Huss Distinguished Professor of Management and Strategy at the Kellogg School of Management at Northwestern University. He received his PhD in Managerial Economics and Decision Sciences and his AB in Political Science from Ohio University. He has received grants from the National Science Foundation and from the Citicorp Behavioral Science Research Council to support this research.
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Table of Contents

INTRODUCTION: STRATEGY AND ECONOMICS.

PART ONE: ECONOMIC FOUNDATIONS OF STRATEGY.

1 Basic Microeconomic Principles.

2 Economies of Scale and Scope.

3 Agency and Coordination.

4 The Power of Principles: A Historical Perspective.

PART TWO: FIRM BOUNDARIES.

5 The Vertical Boundaries of the Firm.

6 Organizing Vertical Boundaries: Vertical Integration and Its Alternatives.

7 Diversification.

PART THREE: MARKET AND COMPETITIVE ANALYSIS.

8 Competitors and Competition.

9 Strategic Commitment.

10 The Dynamics of Pricing Rivalry.

11 Entry and Exit.

12 Industry Analysis.

PART FOUR: STRATEGIC POSITION AND DYNAMICS.

13 Strategic Positioning for Competitive Advantage.

14 Sustaining Competitive Advantage.

15 The Origins of Competitive Advantage: Innovation, Evolution, and the Environment.

PART FIVE: INTERNAL ORGANIZATION.

16 Performance Measurement and Incentives in Firms.

17 Strategy and Structure.

18 Environment, Power, and Culture.

Glossary.

Index.

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