MGT+3304_Day+2_F2010+modified

MGT+3304_Day+2_F2010+modified - Market Dynamics and Market...

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Unformatted text preview: Market Dynamics and Market Dynamics and Organization Effectiveness Organization Effectiveness How Do Organizations Stay in Business? Thought Provokers Thought Provokers What is commerce and why is it important? How do organizations make money? Should we expect organizations to last forever? What is Commerce? What is Commerce? The exchange of goods or services. Bartering Bartering Adam Smith Adam Smith Professor of Logic and held the Chair of Moral Philosophy at the University of Glasgow Tutored a young English Duke Wrote The Wealth of Nations (1776) Invisible Hand Division of Labor 1723-1790 Every individual is continually exerting himself to find out the most advantageous employment for whatever capital he can command. It is his own advantage, indeed, and not that of the society, which he has in view. But the study of his own advantage naturally, or rather necessarily, leads him to prefer that employment which is most advantageous to the society....
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MGT+3304_Day+2_F2010+modified - Market Dynamics and Market...

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