Core Assumptions in Business Theory

NOTE EDITORE

The modern market-based economy generates wealth, but it lags on well-being; it has mastered efficiency, but struggles with equity; it boasts size, but falls short on sustainability. In other words, our economy delivers performance but neglects progress (i.e., well-being, equity, and sustainability). Many rightly call for tighter regulation, higher (“true”) prices, and longer-term incentives. Others appeal to corporate purpose, shared value, and stakeholder-centricity. Beyond regulation and the practice of business, we must attend as well to education and the theory of business. In particular, we must look at business theory's core assumptions, whose weaknesses are long known. In an applied field such as business, where theory tends to be normative, flawed assumptions could act as a “wedge” cleaving apart performance and progress. In this volume, Subramanian Rangan brings together eminent social scientists and philosophers to explore core assumptions in each of the major fields of business-including economics, strategy, marketing, operations, decision science, leadership, governance, technology, and finance. This structured field-by-field reflection reveals and expands the bounds of our rationality. Core Assumptions in Business Theory proposes a revised profit function that integrates harm, outlines how economic actors may draw on moral philosophy to enact Pareto-equity (and not just Pareto-efficiency), suggests a two-stage rationality approach that can attend to well-being, and recasts marketing as consumer education and not merely demand promotion. With an emphasis on education rather than regulation of economic power, this volume argues that moral reasoning and moral roles can fruitfully supplement prudential reasoning and functional responsibilities. Such an evolution will enable our economy to be both modern and moral. This is an open access title available under the terms of a CC BY-NC-ND 4.0 International licence. It is free to read on the Oxford Academic platform and offered as a free PDF download from OUP and selected open access locations.

SOMMARIO

1 - From Market-Pareto to Moral-Pareto: Seven Problematic Assumptions in Business Economics Theory2 - Assumptions in Economics3 - A Half-Dozen Assumptions That Have Led Economists Astray4 - Some Assumptions in Labor Economics5 - Reflection on Tirole's Chapter6 - Reflections on Autor's and Frank's Chapters7 - Reflections on Frank's, Kailas's, Rangan's, and Tirole's Chapters8 - The Social Welfare Implications of Strategic Management Theory9 - Reflections on Barney's Chapter10 - Humanitarian Monopolists: Reflections on Barney's Chapter11 - Fundamental Assumptions in Marketing12 - Three Assumptions Underlying Customer Value Management: An Interdisciplinary Perspective13 - Does Anyone Need a Rolex?: Reflections on Kotler's and Plassmann's Chapters14 - I ''Need'' a Rolex: Reflections on Kotler's and Plassmann's Chapters15 - Theories of Choice and Value Endogeneity16 - Some Questionable Assumptions in Economic Theory17 - Reflections on Gilboa's and March's Chapters18 - The Assumptions of Operations Research19 - Reflections on Kaplan's Chapter - I20 - Reflections on Kaplan's Chapter - II21 - Fundamental Assumptions in Organization Theory22 - Organization and Management Theory: Our Assumptions and the Quest for a Better World23 - Assumptions Rational and Not: Reflections on Battilana's and Walsh's Chapters24 - The Orientation of Economic Sociology: Assumptions and Limits25 - Assumptions Underlying Sociological Models in Business Schools26 - Social Science Assumptions: Reflections on Meyer's Chapter27 - Methodological Individualism-Lessons (?) from Biology: Reflections on Davis's and Meyer's Chapters28 - Philosophical Concepts in Organization and Leadership29 - Fundamental Assumptions about True Leaders30 - A Discussion on Corporate Governance31 - Incorrect Assumptions That Have Guided Our Economic System32 - Corporate Governance and Leadership: Reflections on Kailas's and Mendiola's Chapters33 - On Corporate Governance: Reflections on Kailas's Chapter34 - Assumptions Regarding Technology35 - A Compass for Technology36 - Situating the Assumptions of Technology in Broader Normative Frameworks: Reflections on Shibulal's and Snabe's Chapters37 - Concerns about Technology: Reflections on Shibulal's and Snabe's Chapters38 - Taking Stock of Some Core Assumptions in Finance39 - The Finance Paradigm40 - Reflections on Rajan's and Subrahmanyam's Chapters - I41 - Reflections on Rajan's and Subrahmanyam's Chapters - II

AUTORE

Subi Rangan is Professor of Strategy and Management at INSEAD, the global business school, where he holds the Abu Dhabi Crown Prince Court Endowed Chair in Societal Progress. His research focuses on how economic actors may better integrate performance and progress. In 2013 he initiated the Society for Progress, a fellowship of eminent philosophers, social scientists, and business leaders. He is also the editor of Capitalism Beyond Mutuality? (OUP, 2018) and Performance & Progress (OUP, 2015).

ALTRE INFORMAZIONI

• Condizione: Nuovo
• ISBN: 9780198944218
• Dimensioni: 252 x 25.0 x 181 mm Ø 846 gr
• Formato: Copertina rigida
• Pagine Arabe: 400