Foundations of organizational strategy

書誌事項

Foundations of organizational strategy

Michael C. Jensen

Harvard University Press, 2001

1st Harvard University Press pbk. ed

  • : pbk

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注記

Includes bibliographical references (p. 388-405) and index

内容説明・目次

内容説明

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. Jensen argues that the cost of transferring information makes it necessary to decentralize some decision rights in organizations and in the economy. This decentralization in turn requires organizations to solve the control problem that results when self-interested persons do not behave as perfect agents. Capitalist economies solve these control problems through the institution of alienable decision rights. But because organizations must suppress the alienability of decision rights, they must devise substitute mechanisms that perform its functions. Jensen argues that three critical systems, which he calls the organizational rules of the game, are necessary to substitute for alienability in organizations: (1) a system for allocating decision rights among agents in the firm, (2) a system for measuring and evaluating performance in the firm, and (3) a system for rewarding and punishing individuals for their performance. These concepts offer a major competitive advantage for organizations.

目次

Preface Introduction I. Fundamental Building Blocks of the Theory 1. The Nature of Man 2. Self-Interest, Altruism, Incentives, and Agency Theory 3. Theory of the Firm: Managerial Behavior, Agency Costs, and Ownership Structure 4. Specific and General Knowledge and Organizational Structure 5. Organization Theory and Methodology II. Residual Claims and Organizational Forms 6. Agency Problems and Residual Claims 7. Separation of Ownership and Control III. Compensation 8. Compensation and Incentives: Practice versus Theory 9. Performance Pay and Top-Management Incentives 10. CEO Incentives: It's Not How Much You Pay, But How IV. Organizational Applications of the Theory 11. Science, Specific Knowledge, and Total Quality Management 12. Divisional Performance Measurement Notes References Acknowledgments Index

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詳細情報

  • NII書誌ID(NCID)
    BA53268515
  • ISBN
    • 0674005643
  • 出版国コード
    us
  • タイトル言語コード
    eng
  • 本文言語コード
    eng
  • 出版地
    Cambridge, Mass
  • ページ数/冊数
    x, 414 p.
  • 大きさ
    24 cm
  • 分類
  • 件名
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