Feature Summary

Hot topics In Economics and Strategy: An introduction dealing with essential elementary issues provides students with the necessary basic concepts of economics, and the book then proceeds to explore recent theories that can be applied to organisations such as welfare theorem, Coase theorem and game theory. The text also explores key topics such as transaction costs, property rights, and governance structure, through the themes of co-ordination, motivation and strategy. The author makes wide use of cutting edge theory and research sources with numerous authoritative references.

Numerous Applications: The book is rich in broad-ranging examples of European business-related applications, applying theories to different business sectors such as insurance, supermarkets and car manufacturing industries. Numerous Applications boxes in each chapter provide students with scenarios that illustrate the key topics and help tem to apply economic thinking to business. The Applications discuss a diversity of issues of direct importance to organisations – such as decision-making processes, flexible production technologies, organisational structure, diversification, management accounting systems and team theories.

Clarity: The insightful combination of text, numerous diagrams and figures, and simple mathematics offers a presentation that enables students to get to grips with the fundamental principles of economics, organizations and management, without assuming advanced economic knowledge.

Integration of Business Fields: The book takes an approach that realises that fields such as organisation, human resources policy, finance, and accounting interrelate and conflict with each other, enabling students to understand how complex organisations function and how motivation and co-ordination are important aspects of an organisations strategy.

Learning and Assessment Material: Clear introductions, learning objectives and summaries for each chapter, end of chapter exercises and review questions enable students to structure their learning as they progress through the book.