Participatory decision-making in the firm

Article Abstract:

The effect of the number of persons involved in corporate decision-making in economic terms is discussed. In particular, the variables of interest here are the cost and returns of enforcing certain group decisions that have been a result of the converged preferences of each group member. A specific optimal number or ratio has been found to exist in this cost-minimization exercise. Furthermore, using Condorcet's Jury Theorem, it has been found that subject to certain restraints, the increase in the number of group decision makers increases the probability of arriving at the correct decision.

Research, Decision-making, Group, Group decision making

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The impact of firm-specific assets and the interaction of uncertainty: an examination of make or buy decisions in public and private hospitals

Article Abstract:

Human and asset specificity has been deemed crucial in analyzing the transaction cost economics of firms, particularly service-oriented organizations. It was revealed that under the presence of specific assets, firms are likely to integrate their services as the level of uncertainty increases. Human assets have also been shown to create a significant effect on the transaction costs of service firms, specifically on product distribution. Differences in the make or buy decisions of private and public may also be attributed to incentive discrepancies and divergence in efficiency pressures.

Service Industries, Methods, Portfolio management, Services industry

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Entrepreneurship and the theory of the firm

Article Abstract:

Though entrepreneurial judgement is inevitable for the growth of firms, several leading theories of the firm neglect it. The addition of entrepreneurship is a radical change of the theory of the firm.

United Kingdom, Bureaucracy, Entrepreneurship, Organization theory

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