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(More customer reviews)This book was the best that I read in my MBA program. It is filled with great examples and is easy to read. At the same time it taught me important economic concepts. I had struggled with these concepts as an undergraduate but thanks to this text I now feel that I have them mastered. Unlike other economic texts this book focuses on real management problems.
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Brickley/Smith/Zimmerman's new approach to managerial economics takes models from recent economics research and applies this research to the internal structure of the firm. After teaching basic applied economics, the authors look inside the firm and apply this analysis to management decision making. The general model used for this application is organizational architecture.Organizational architecture consists of three aspects of corporate organization: the assignment of decision rights within the company; methods of rewarding individuals; and the structure of systems to evaluate the performance of both individuals and business units.These three components can be likened to a stool with three legs.If one of the legs is shorter, the stool is out of balance.These three elements must be in balance in an organization as well.
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