Contents
Introduction 3- Economics and theoretical underpinning of the main concepts 4
- Hierarchies 4
- Short run and long run and Diminishing returns versus economies of scale 4
- Integration 12
- Size determines hierarchical structure 14
- Markets 15
- Market structures: perfect competition, monopoly and oligopoly 15
- Government Regulation 21
- Externalities 24
- Networks 25
- Networks within HMC 25
- Networks outside the firm 26
- Importance of network framework 26
- Impact on own experience 26
- Discussion and main conclusions 27
- References 28
Description
This report answers the following questions -
• Explain and discuss in what different business or organisational circumstances a) hierarchies, b) markets and c) networks are most appropriate, and show how each of these three concepts can be used to understand a business or organisational context known to you.
• How might this understanding impact your own business or managerial experience?
