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Value creation principles The Pragmatic Theory of the Firm Begins with Purpose and Ends with Sustainable Capitalism 1st Edition by Bartley Madden ISBN 9781119706649 1119706645

Name: Value creation principles The Pragmatic Theory of the Firm Begins with Purpose and Ends with Sustainable Capitalism 1st Edition by Bartley Madden ISBN 9781119706649 1119706645
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Value creation principles The Pragmatic Theory of the Firm Begins with Purpose and Ends with Sustainable Capitalism 1st Edition Bartley J. Madden Digital Instant Download

Author(s): Bartley J. Madden

ISBN(s): 9781119706649, 9781119706632, 9781119706625, 1119706645, 1119706629, 1119706637

Edition: 1

File Details: EPUB, 4.67 MB

Year: 2020

Language: English

SKU: EB-12025992 Category: Business & Economics Tag: Bartley J. Madden

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Value creation principles The Pragmatic Theory of the Firm Begins with Purpose and Ends with Sustainable Capitalism 1st Edition by Bartley Madden – Ebook PDF Instant Download/Delivery: 9781119706649 ,1119706645
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ISBN 10: 1119706645
ISBN 13: 9781119706649
Author: Bartley Madden

PRAISE FOR VALUE CREATION PRINCIPLES “In Value Creation Principles, Madden introduces the Pragmatic Theory of the Firm that positions the firm as a system fueled by human capital, innovation, and, at a deeper level, imagination. He challenges us to understand how we know what we think we know in order to better discover faulty assumptions that often are camouflaged by language. His knowledge building loop offers guideposts to design experiments and organize feedback to facilitate early adaptation to a changed environment and to avoid being mired in ways of thinking rooted in ‘knowledge’ of what worked well in the past—a context far different from the context of today. His book explains a way of being that enables those who work for, or invest in, business firms to see beyond accounting silos and short-term quarterly earnings and to focus on capabilities instrumental for creating long-term future and sustainable value for the firm’s stakeholders. I can’t recommend this astounding book enough especially given its deep and timely insights for our world today.” —John Seely Brown, former Chief Scientist for Xerox Corp and Director of its Palo Alto Research Center (PARC); co-author with Ann Pendleton-Jullian of Design Unbound: Designing for Emergence in a White Water World “In contrast to existing abstract theories of the firm, Madden’s pragmatic theory of the firm connects management’s decisions in a practical way to a firm’s life cycle and market valuation. The book promotes a firm’s knowledge building proficiency, relative to competitors, as the fundamental driver of a firm’s long-term performance, which leads to insights about organizational capabilities, intangible assets, and excess shareholder returns. Value Creation Principles is ideally suited to facilitate progress in the New Economy by opening up the process by which firms build knowledge and create value, which is a needed step in revising how neoclassical economics treats the firm.” —Tyler Cowen, Professor of Economics, George Mason University; co-author of the popular economics blog Marginal Revolution “Bartley Madden rightfully points out that both textbook and more advanced economic theories of the firm fail to address the concerns of top management and boards of directors. He offers a tantalizing pragmatic alternative that directly connects to quantitative changes in the firm’s market value. His framework gives recognition to the importance of intangible assets, and his pragmatic approach is quite complementary to the Dynamic Capabilities framework that strategic managers implicitly and sometimes explicitly employ.” —David J. Teece, Thomas W. Tusher Professor in Global Business, Faculty Director, Tusher Center for the Management of Intellectual Capital, Haas School of Business, University of California, Berkeley

Value creation principles The Pragmatic Theory of the Firm Begins with Purpose and Ends with Sustainable Capitalism 1st Edition Table of contents:

Part I: A Firm’s Role in Society

1 OVERVIEW OF THE PRAGMATIC THEORY OF THE FIRM

THE NUCLEUS OF THE PRAGMATIC THEORY OF THE FIRM

THE EVOLUTION OF THINKING ABOUT THE THEORY OF THE FIRM

KINDRED SPIRITS FOR THE PRAGMATIC THEORY OF THE FIRM

INNOVATION AND ECONOMIC GROWTH

THE PURPOSE OF THE FIRM

THE PRAGMATIC THEORY OF THE FIRM

NOTES

2 KNOWLEDGE BUILDING AND FIRM PERFORMANCE

THE KNOWLEDGE-BUILDING PATH TO IMPROVED PERFORMANCE

THE KNOWLEDGE-BUILDING LOOP

HUMAN BEHAVIOR, CULTURE, AND FIRM PERFORMANCE

ELEGANT, PARSIMONIOUS, AND RELIABLE THEORIES

NOTES

3 WORK, INNOVATION, AND RESOURCE ALLOCATION

LEAN THINKING—“NO PROBLEM IS A PROBLEM”

THE THEORY OF CONSTRAINTS

ONTOLOGICAL/PHENOMENOLOGICAL MODEL

INNOVATION

RESOURCE ALLOCATION

THE KEY CONSTRAINT IN SUSTAINING A KNOWLEDGE-BUILDING CULTURE

NOTES

Part II: The Pragmatic Theory of the Firm Connects Innovation and Valuation

4 LIFE-CYCLE PERFORMANCE AND FIRM RISK

THE FIRM’S COMPETITIVE LIFE CYCLE

A PARANOID OPTIMIST RESTRUCTURES NOKIA

A CASE STUDY OF INNOVATION—AMAZON

THE LIFE-CYCLE VALUATION MODEL

WHAT DOES A STOCK PRICE SAY ABOUT A FIRM’S FUTURE INVESTMENTS?

FORWARD-LOOKING, MARKET-IMPLIED DISCOUNT RATE

THE ROOTS OF MODERN FINANCE

FIRM RISK OFFERS A DIFFERENT MINDSET

SUMMARY OF KEY IDEAS

A RESEARCH METHODOLOGY FOR ADVANCING THE LIFE-CYCLE FRAMEWORK

BETTER ESTIMATES OF THE INVESTOR DISCOUNT RATE

NOTES

5 INTANGIBLE ASSETS, BRANDS, AND SHAREHOLDER RETURNS

THE NEW ECONOMY AND CONNECTIVITY-ENABLED BUSINESS MODELS

EMPIRICAL EVIDENCE ABOUT INTANGIBLE ASSETS

BRANDS IMPACT A FIRM’S MARKET VALUE

A CONCEPTUAL ROADMAP FOR HANDLING INTANGIBLE ASSETS

INTEGRATED REPORTS, LIFE-CYCLE REVIEWS, AND INTANGIBLES

EXPECT MORE THAN COFFEE—STARBUCKS

COSTCO STARTS BY CARING FOR ITS EMPLOYEES

RINGING DOORBELLS AND CHANGING TIMES—AVON

WHY DID ILLUMINA OUTPERFORM THE STOCK MARKET 18-FOLD FROM 2004 TO 2014?

THE EFFICIENT MARKET HYPOTHESIS AND THE FACTOR ZOO

EXCESS SHAREHOLDER RETURNS AND THREE LEVELS OF CAUSE-AND-EFFECT LOGIC

USEFUL IDEAS FOR INVESTORS, MANAGEMENTS, AND ACADEMIC RESEARCHERS

SYSTEM PRINCIPLES AND EFFECTIVE LANGUAGE

NOTES

Part III: Value Creation

6 LIFE-CYCLE POSITION, ADAPTABILITY, AND ORGANIZATIONAL STRUCTURE

LIFE-CYCLE GUIDEPOSTS

FOCUSED EXECUTION OF AN INNOVATIVE BUSINESS MODEL—NETFLIX

INNOVATION IN THE OPERATING ROOM—INTUITIVE SURGICAL

NOTHING RUNS LIKE A DEERE

SMITH CORONA AND NCR

The ABCs of Organizational Structure

ORGANIZATIONAL EXPERIMENTATION AT THE HAIER GROUP

VALUE CREATORS DRIVE DYNAMISM IN CHINA

NOTES

7 ACHIEVING PROGRESS THROUGH KNOWLEDGE BUILDING AND VALUE CREATION

THE NEW ECONOMY AND THE PRAGMATIC THEORY OF THE FIRM

LIFE-CYCLE TRACK RECORDS ARE A SCORECARD AND A LEARNING TOOL

POLITICS AND THE GREATER GOOD

PROGRESS STUDIES

NOTES

ABOUT THE AUTHOR

INDEX

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