This new textbook examines
how industry environment and business strategies determine company performance. It
provides an introduction to the economics of business strategy, introducing key concepts
drawn from microeconomics, industrial organisation, business economics, business
environment, organisation studies and strategic management.
The book is written for the
growing number of courses at MBA, undergraduate, and foundation level where readers
require not only an integrated theoretical framework in economics and management, but also
the practical skills and knowledge to examine how and why firms behave in certain ways in
the real world.
Features
No prior knowledge of
economics is expected. The introductory chapters provide a solid foundation to
microeconomic theory to those new to the subject.
Unique attempt to link
economic analysis of the competitive market environment to business and management
strategy.
Strikes a balance between
theory and practical business issues, fully equipping students to understand what goes on
in the real world of business.
Full pedagogy including
chapter objectives, key terms, references, and questions for discussion.
Case studies written by the
authors and taken from the Financial Times have been included to clarify, broaden and
extend key issues.
Key terms or phrases
introduced in each chapter are defined in a glossary at the end of the book.
Table of Contents
- Introduction
- Part I: Introduction to
Markets and Production
- 1. Markets and Prices
- 2. Production and Costs
- Part II: Analysis of
Industry
- 3. Theoretical Analysis of
Industry I: Perfect Competition, Monopoly and Monopolistic Competition
- 4. Theoretical Analysis of
Industry II: Oligopoly
- 5. Methodological Approaches
to Competitive Analysis
- 6. Practical Analysis of
Industry
- Part III: Analysis of
Business Strategy
- 7. Advertising and Product
Differentiation
- 8. Research, Development and
Innovation
- 9. Horizontal and Vertical
Integration
- 10. Diversification
- Part IV: Analysis of
Government Policy
- 11. Government and Business
- Glossary
318 pages