The Economics of Business Strategy

This new textbook examines how industry environment and business strategies determine company performance. It provides an introduction to the economics of business strategy, introducing key concepts drawn from microeconomics, industrial organisation, business economics, business environment, organisation studies and strategic management. The book is written for the growing number of courses at MBA, undergraduate, and foundation level where readers require not only an integrated theoretical framework in economics and management, but also the practical skills and knowledge to examine how and why firms behave in certain ways in the real world.Key Features:No prior knowledge of economics is expected. The introductory chapters provide a solid foundation to microeconomic theory to those new to the subject.Unique attempt to link economic analysis of the competitive market environment to business and management strategy.Strikes a balance between theory and practical business issues, fully equipping students to understand what goes on in the real world of business.Well designed learning features, including chapter objectives, key terms, references, and questions for discussion.Case studies written by the authors and taken from the Financial Times have been included to clarify, broaden and extend key issues and make a significant contribution to learning. Key terms or phrases introduced in each chapter are defined in a glossary at the end of the book. This short book on competitive market analysis is designed to be suitable for a range of one semester courses for students who have had little or no prior grounding in economics. It is ideal for those taking their first course in microeconomics as a part of an MBA or business related undergraduate degree. It will also be of interest to those following courses in strategy and organisation studies.Dr John Lipczynski is Principal Lecturer in the Department of Business and Service Sector Management at London Metropolitan University, specialising in microeconomics and industrial economics. Dr John Wilson is Lecturer in the Department of Management at University of St Andrews, specialising in industrial organisation, banking and managerial economics. They are both the authors of the text Industrial Organisation, also published by Pearson Education.