Thư viện tài liệu, ebook tham khảo dành cho học sinh, sinh viên

Process of communicating (cont.) Sender – encodes and transmits message through a chosen communication channel (p. 378) Receiver – decodes and interprets the meaning of the message Provides feedback to the sender to assure that message was received and understood

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Product + strategy + environment drive the key knowledge you need to create & use job design & decision making follow from that this is why one buzzword does not work for all firms Key questions “Who / what / where / when / why?” emphasize ex ante optimization, continuous improvement, or both? complexity, instability & unpredictability push t...

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Example: Work for IBM or Amazon.com? Suppose that individuals facing risky alternatives attempt to maximize expected utility, i.e., the probability-weighted average of the utility from each possible outcome they face. U(IBM) = U($54,000) = 230 U(Amazon) = .5xU($4,000) + .5xU($104,000) = .5(60) + .5(320) = 190

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Definition: A Nash Equilibrium occurs when each player chooses a strategy that gives him/her the highest payoff, given the strategy chosen by the other player(s) in the game. ("rational self-interest") Toyota vs. Honda: A Nash equilibrium: Each Firm Builds a New Plant

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Joyful living (p. 354) Feelings and emotions defined by interest, passion, curiosity, contentment, enthusiasm, satisfaction and quality of life A measurable culmination of the other dimensions of abundance, providing the means for progress and motivation

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Defined (by extension of Lazear & Gibbs) as an intra-firm entrepreneur This is an extension of the entrepreneur’s problem in that it goes beyond ownership Call for use of market principles within the firm’s policies Also calls for firm to act as a customer of knowledge for competitive advantage Suggested approach – think BIG, take SMALL, concre...

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Transformational leadership (p. 330) Creating and communicating a higher-level vision in a charismatic way that elicits an emotional response and commitment from the followers Empowering leadership Emphasizes employee self-influence processes rather than hierarchical control processes Actively encourages followers to take ownership of their own...

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EXAMPLE worker’s age = 58 service = 30 yrs so far retire @ 65 (7 more years) current salary = $80,000 What is the worker’s defined benefit? X% per year x final salary (X = years of service @ retirement) E.g., : 2% x 37 x $80,000 = $59,200

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Assumptions Firms set outputs (quantities)* Homogeneous Products Simultaneous Non-cooperative *Definition: In a Cournot game, each firm sets its output (quantity) taking as given the output level of its competitor(s), so as to maximize profits. Price adjusts according to demand. Residual Demand: Firm i's guess about its rival's output d...

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Economics Point of View Regarding Options Options are a leveraged investment compared to owning a stock A firm can grant options more cheaply than shares of stock Normal risk adjustment by employee still makes stock options non-optimal Only advisable for individuals who can boost outcomes and adjust risk Options are appropriately used as exec...

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