ECON 308 Topical Review for Second Midterm Spring 2010 The following is a review of the topics we have covered and should serve as a review tool The list may not be definitive 1 Transaction Costs of Exchange Classnotes Powerpoints A Information Costs 1 Search Costs 2 Quality Identification Costs B Negotiating Costs C Transportation Costs 2 Economics of Strategy Creating and Capturing Value Ch 8 A Defined Strategy B Defined Economic strategy a Methods of increasing Total Revenue TR b Methods of decreasing total cost TC C Transaction Costs and Creating Value a Consumer Derived methods to reduce b Producer Derived methods to reduce D Creating Value Analyzed alternatives a Advertising Derived two functions of advertising b Reducing consumer waiting time c Alternative product pricing d Product Quality e Technology Value Analyzed how changing technology creates opportunities to create value f Converting Organizational Knowledge into Value i Hardware ii Software Formula s recipes iii Wetware Knowledge in the mind g Analyzed how Diversification can create value i Related diversification ii Cyclical diversification E Market Power Analyzed Effects of Porter s Five Forces F Capturing Value Analyzed alternative ways of capturing value G Strategy Formulation Combines the analysis of internal resources and capabilities with an understanding of the business environment 3 Incentive Conflicts Contracts Ch 10 Analyzed A the firm as a focal point of contracts B alternative legal forms of firms C alternative incentive conflicts and potential conflicts of interest D the role of teamwork shirking and the organization of the firm def free riding E the role of contracts F Precontractual information problems a Agency problems b Asymmetric information G Postcontractual information a Agency problems b Agency costs H Role of implicit contracts and reputation 4 Decision Rights Bundling Tasks into Jobs and Sub Units Ch 13 A Bundling Tasks into Jobs a Specialized Task Assignments Costs and Benefits b Productive Bundling of Tasks c Incentive Issues B Bundling of Jobs into Subunits a Grouping Jobs by Function Benefits Problems b Grouping Jobs by Product or Geography Benefits Problems c Trade offs between Functional and Product or Geographic Subunits C Environment Strategy Architecture Matrix Organizations a Mixed Designs U form M form b Network Organization c Organizing within Subunits
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