Austrian Perspectives on Entrepreneurship, Strategy, and Organization PDF Download

Author: Nicolai J. Foss
Publisher: Cambridge University Press
ISBN: 110877606X
Category : Business & Economics
Languages : en
Pages :

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Book Description
The 'Austrian' tradition is well-known for its definitive contributions to economics in the twentieth century. However, Austrian economics also offers an exciting research agenda outside the traditional boundaries of economics, especially in the management disciplines. This Element examines how Austrian ideas play a key role in expanding the understanding of fields like entrepreneurship, strategy, and organization. It focuses especially on the vital role that entrepreneurs play in guiding economic progress by shaping firms and their strategic behavior. In doing so, it explains a wide range of contributions that Austrian economics makes to the understanding of key problems in management, while also highlighting many directions for future work in this inspiring tradition.

Author: Nicolai J. Foss
Publisher: Cambridge University Press
ISBN: 9781108745802
Category : Business & Economics
Languages : en
Pages : 75

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Book Description
The 'Austrian' tradition is well-known for its definitive contributions to economics in the twentieth century. However, Austrian economics also offers an exciting research agenda outside the traditional boundaries of economics, especially in the management disciplines. This Element examines how Austrian ideas play a key role in expanding the understanding of fields like entrepreneurship, strategy, and organization. It focuses especially on the vital role that entrepreneurs play in guiding economic progress by shaping firms and their strategic behavior. In doing so, it explains a wide range of contributions that Austrian economics makes to the understanding of key problems in management, while also highlighting many directions for future work in this inspiring tradition.

Author: Nicolai J. Foss
Publisher: Edward Elgar Publishing
ISBN: 9781843767107
Category : Business & Economics
Languages : en
Pages : 304

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Book Description
While characteristically "Austrian" economic themes are clearly relevant to the business firm, Austrian economists have said little about management, organization and strategy. The 12 chapters in this work seek to advance the understanding of these issues by drawing on Austrian ideas.

Author: Nicolai J. Foss
Publisher: Cambridge University Press
ISBN: 1107377307
Category : Business & Economics
Languages : en
Pages :

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Book Description
Entrepreneurship, long neglected by economists and management scholars, has made a dramatic comeback in the last two decades, not only among academic economists and management scholars, but also among policymakers, educators and practitioners. Likewise, the economic theory of the firm, building on Ronald Coase's (1937) seminal analysis, has become an increasingly important field in economics and management. Despite this resurgence, there is still little connection between the entrepreneurship literature and the literature on the firm, both in academia and in management practice. This book fills this gap by proposing and developing an entrepreneurial theory of the firm that focuses on the connections between entrepreneurship and management. Drawing on insights from Austrian economics, it describes entrepreneurship as judgmental decision made under uncertainty, showing how judgment is the driving force of the market economy and the key to understanding firm performance and organization.

Author: Lisa K. Gundry
Publisher: SAGE Publications
ISBN: 1452262446
Category : Business & Economics
Languages : en
Pages : 425

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Book Description
In this engaging and practical book, authors Lisa K. Gundry and Jill R. Kickul uniquely approach entrepreneurship across the life cycle of business growth—offering entrepreneurial strategies for the emerging venture, for the growing venture, and for sustaining growth in the established venture. Written from the point of view of the founder or the entrepreneurial team, the book offers powerful and practical tools to increase a venture's potential for success and growth.

Author: Peter J. Boettke
Publisher:
ISBN: 0199811768
Category : Business & Economics
Languages : en
Pages : 833

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Book Description
The Austrian School of Economics is an intellectual tradition in economics and political economy dating back to Carl Menger in the late-19th century. Menger stressed the subjective nature of value in the individual decision calculus. Individual choices are indeed made on the margin, but the evaluations of rank ordering of ends sought in the act of choice are subjective to individual chooser. For Menger, the economic calculus was about scarce means being deployed to pursue an individual's highest valued ends. The act of choice is guided by subjective assessments of the individual, and is open ended as the individual is constantly discovering what ends to pursue, and learning the most effective way to use the means available to satisfy those ends. This school of economic thinking spread outside of Austria to the rest of Europe and the United States in the early-20th century and continued to develop and gain followers, establishing itself as a major stream of heterodox economics. The Oxford Handbook of Austrian Economics provides an overview of this school and its theories. The various contributions discussed in this book all reflect a tension between the Austrian School's orthodox argumentative structure (rational choice and invisible hand) and its addressing of a heterodox problem situations (uncertainty, differential knowledge, ceaseless change). The Austrian economists from the founders to today seek to derive the invisible hand theorem from the rational choice postulate via institutional analysis in a persistent and consistent manner. Scholars and students working in the field of History of Economic Thought, those following heterodox approaches, and those both familiar with the Austrian School or looking to learn more will find much to learn in this comprehensive volume.

Author: Nicolai J. Foss
Publisher: OUP Oxford
ISBN: 0191528927
Category : Business & Economics
Languages : en
Pages : 296

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Book Description
The rise of the knowledge economy has far-reaching implications for the nature of economic organization as well as firm strategy. Not surprisingly, thinking in management studies as well as in economics has been profoundly affected by these changes. Thus, management thinking in particular has been increasingly characterized by a schism between those who advocate 'knowledge' or 'capabilities-based' approaches in the strategy and organization fields and those who adopt more economics-influenced approaches, notably the economics of organization. This book is a sustained attempt to overcome this schism. Its basic argument is that knowledge-based and organizational economics approaches are not substitutes but complements. In particular, organizational economics has much to contribute with respect to furthering the understanding of efficient organization and strategy in the emerging knowledge economy. This theme is taken through several theoretical as well as empirical variations. Themes such as the incentive liabilities of flat, 'knowledge-based' organizations and the role of complementary HRM practices for fostering knowledge sharing and creation are extensively treated. The book thus contains important implications for knowledge management, organizational design, and firm strategy." The book encompasses nine chapters which critically examine current thinking on strategy, and organization. The reasoning is non-technical. While primarily aimed at a management studies audience, economists and other social scientists will also benefit from it, including Advanced Students, Academics, and Researchers.

Author: Bylund, Per L.
Publisher: Edward Elgar Publishing
ISBN: 1789904404
Category : Business & Economics
Languages : en
Pages : 329

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Book Description
This Modern Guide explores central ideas, concepts, and themes in the Austrian school of economics, with a focus on how they, and with them the overall theory, have evolved over recent decades. Leading scholars offer their insights into potential directions of future research in the field, pointing towards contemporary debates and their potential conclusions, underdeveloped aspects and extensions of theory, and current applications of interest.

Author: Christian Stadler
Publisher: MIT Press
ISBN: 0262046113
Category : Business & Economics
Languages : en
Pages : 295

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Book Description
How smart companies are opening up strategic initiatives to involve front-line employees, experts, suppliers, customers, entrepreneurs, and even competitors. Why are some of the world’s most successful companies able to stay ahead of disruption, adopting and implementing innovative strategies, while others struggle? It’s not because they hire a new CEO or expensive consultants but rather because these pioneering companies have adopted a new way of strategizing. Instead of keeping strategic deliberations within the C-Suite, they open up strategic initiatives to a diverse group of stakeholders—front-line employees, experts, suppliers, customers, entrepreneurs, and even competitors. Open Strategy presents a new philosophy, key tools, step-by-step advice, and fascinating case studies—from companies that range from Barclays to Adidas—to guide business leaders in this groundbreaking approach to strategy. The authors—business-strategy experts from both academia and management consulting—introduce tools for each of the three stages of strategy-making: idea generation, plan formulation, and implementation. These are digital tools (including strategy contests), which allow the widest participation; hybrid digital/in-person tools (including a “nightmare competitor challenge”); a workshop tool that gamifies the business model development process; and tools that help companies implement and sustain open strategy efforts. Open strategy has an astonishing track record: a survey of 200 business leaders shows that although open-strategy techniques were deployed for only 30 percent of their initiatives, those same initiatives generated 50 percent of their revenues and profits. This book offers a roadmap for this kind of success.

Author: Israel M. Kirzner
Publisher: University of Chicago Press
ISBN: 0226437760
Category : Business & Economics
Languages : en
Pages : 256

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Book Description
Stressing verbal logic rather than mathematics, Israel M. Kirzner provides at once a thorough critique of contemporary price theory, an essay on the theory of entrepreneurship, and an essay on the theory of competition. Competition and Entrepreneurship offers a new appraisal of quality competition, of selling effort, and of the fundamental weaknesses of contemporary welfare economics. Kirzner's book establishes a theory of the market and the price system which differs from orthodox price theory. He sees orthodox price theory as explaining the configuration of prices and quantities that satisfied the conditions for equilibrium. Mr. Kirzner argues that "it is more useful to look to price theory to help understand how the decisions of individual participants in the market interact to generate the market forces which compel changes in prices, outputs, and methods of production and in the allocation of resources." Although Competition and Entrepreneurship is primarily concerned with the operation of the market economy, Kirzner's insights can be applied to crucial aspects of centrally planned economic systems as well. In the analysis of these processes, Kirzner clearly shows that the rediscovery of the entrepreneur must emerge as a step of major importance.