Foundations of management and organizations
3 important questions on Foundations of management and organizations
What is environment of a market or organization?
Context in which the trade-offs between market and organizational coordination is made
Organizations/markets live in an environment that(3):
1. provides conditions for particular organizations/markets to be created
2. shapes all organizations/markets by exerting economic, social, political pressure
3. is ultimate selection mechanism for determining which organizations/markets can survive and be succesful
Where do economic approaches to organizations focus specifically on?
the economic problem of optimal allocation of scarce resources
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