Value creation principles: the pragmatic theory of the firm begins with purpose and ends with sustainable capitalism
Material type:
TextPublication details: New Jersey John Wiley & Sons, Inc. 2020 Description: xxii, 250 pISBN: 9781119706625Subject(s): Organizational effectiveness | Organizational learning | Production managementDDC classification: 658.1552 Summary: .
| Item type | Current library | Collection | Call number | Copy number | Status | Date due | Barcode |
|---|---|---|---|---|---|---|---|
Book
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Indian Institute of Management LRC General Stacks | Public Policy & General Management | 658.1552 MAD (Browse shelf(Opens below)) | 1 | Available | 002718 |
TABLE OF CONTENTS
Preface and Overview xv
I A Firm’s Role in Society
1 Overview of the Pragmatic Theory of the Firm 3
The Nucleus of the Pragmatic Theory of the Firm 4
The Evolution of Thinking about the Theory of the Firm 7
Kindred Spirits for the Pragmatic Theory of the Firm 10
Innovation and Economic Growth 16
The Purpose of the Firm 24
The Pragmatic Theory of the Firm 30
2 Knowledge Building and Firm Performance 33
The Knowledge-Building Path to Improved Performance 34
The Knowledge-Building Loop 35
Human Behavior, Culture, and Firm Performance 44
Elegant, Parsimonious, and Reliable Theories 48
3 Work, Innovation, and Resource Allocation 53
Lean Thinking—“No Problem is a Problem” 55
The Theory of Constraints 60
Ontological/Phenomenological Model 64
Innovation 69
Resource Allocation 71
The Key Constraint in Sustaining a Knowledge-Building Culture 75
II The Pragmatic Theory of the Firm Connects Innovation and Valuation
4 Life-Cycle Performance and Firm Risk 81
The Firm’s Competitive Life Cycle 84
A Paranoid Optimist Restructures Nokia 90
A Case Study of Innovation—Amazon 93
The Life-Cycle Valuation Model 96
What Does a Stock Price Say about a Firm’s Future Investments? 99
Forward-Looking, Market-Implied Discount Rate 101
The Roots of Modern Finance 103
Firm Risk Offers a Different Mindset 106
Summary of Key Ideas 110
A Research Methodology for Advancing the Life-Cycle Framework 111
Better Estimates of the investor Discount Rate 116
5 Intangible Assets, Brands, and Shareholder Returns 121
The New Economy and Connectivity-Enabled Business
Models 123
Empirical Evidence about Intangible Assets 126
Brands Impact a Firm’s Market Value 129
A Conceptual Roadmap for Handling Intangible Assets 133
Integrated Reports, Life-Cycle Reviews, and Intangibles 139
Expect More Than Coffee—Starbucks 143
Costco Starts by Caring for Its Employees 145
Ringing Doorbells and Changing Times—Avon 148
Why Did Illumina Outperform the Stock Market 18-Fold from 2004 to 2014? 150
The Efficient Market Hypothesis and the Factor Zoo 153
Excess Shareholder Returns and Three Levels of Cause-and-Effect Logic 157
Useful Ideas for Investors, Managements, and Academic Researchers 164
Investors 164
Managements 166
Academic Researchers 167
System Principles and Effective Language 168
III Value Creation
6 Life-Cycle Position, Adaptability, and Organizational Structure 181
Life-Cycle Guideposts 182
Focused Execution of an Innovative Business Model—Netflix 183
Innovation in the Operating Room—Intuitive Surgical 188
Nothing Runs Like a Deere 191
Smith Corona and NCR 194
The ABCs of Organizational Structure 198
Organizational Experimentation at the Haier Group 204
Value Creators Drive Dynamism in China 209
7 Achieving Progress Through Knowledge Building and Value Creation 213
The New Economy and the Pragmatic Theory of the Firm 214
Life-Cycle Track Records are a Scorecard and a Learning Tool 222
Politics and the Greater Good 224
Progress Studies 230
About the Author 239
Index 241
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