Capability Building and Learning: An Emergent Behavior Approach

• Autorzy: Rafael Andreu , Josep Riverola , Josep Mª Rosanas , Rafael de Santiago
• Języki publikacji: EN

Abstrakty

EN

Economics-based models of firms typically overlook management acts and capability development. We propose a model that analyzes the aggregate behavior of a population of firms resulting from both specific management decisions and learning processes, that induce changes in companies' capabilities. Decisions are made under imperfect information and bounded rationality, and managers may sacrifice short-term performance in exchange for qualitative outcomes that affect their firm's future potential. The proposed model provides a structured setting in which these issues -often discussed only informally- can be systematically analyzed through simulation, producing a variety of hard-to-anticipate emergent behaviors. Economic performance is quite sensitive to managers' estimates of their firms' capabilities, and companies willing to sacrifice short-run results for future potential appear to be more stable than the rest. Also, bounded rationality can produce chaotic dynamics reminiscent of real life situations. (original abstract)

Słowa kluczowe

EN

Science; Economic performance; Enterprises; Information in decision making; Bounded rationality

PL

Nauka; Wyniki gospodarcze; Przedsiębiorstwo; Informacja w podejmowaniu decyzji; Ograniczona racjonalność

• Czasopismo: International Journal of Management and Economics
• Rocznik: 2014
• Numer: nr 44
• Strony: 7--38

Twórcy

autor

Rafael Andreu

• Strategic Management Department, IESE Business School

autor

Josep Riverola

• Production, Technology and Operations Management Department, IESE Business Schoo

autor

Josep Mª Rosanas

• Accounting and Control Department, IESE Business School

autor

Rafael de Santiago

• Managerial Decision Sciences Department, IESE Business School

Bibliografia

• Agarwal, R., Helfat, C. E. (2000), Strategic renewal of organizations. Organization Science, 20 (2), pp. 281-293.
• Amit, R., Shoemaker, P. J. H. (1993), Strategic assets and organizational rent, Strategic Management Journal, 14, pp. 33-46.
• Andreu, R., Ciborra, C. (1996), Organizational learning and core capabilities development: The role of IT, Journal of Strategic Information Systems, 5, pp. 111-127.
• Anthony, R. N. (1960), The Trouble with Profit Maximization: It Is Too Difficult, It Is Unrealistic, It Is Immoral. Harvard Business Review, 38 (6), pp. 126-134.
• Barney, J. (1991), Firm resources and sustained competitive advantage, Journal of Management, 17 (1), pp. 99-120.
• Bellman, R. (2003), Dynamic Programming, Dover Publications.
• Bertsekas, D. (2008), Dynamic Programming and Optimal Control, Athena Scientific.
• Canals, J. (2010), Rethinking the Firm's Mission and Purpose, European Management Review, 7, pp. 195-204.
• Choi, J., Wang, H. (2009), Stakeholder relations and persistence of corporate financial performance, Strategic Management Journal, 30, pp. 895-907.
• Chugh, L., Meador, J. (1984), The Stock Valuation Process: The Analyst's view, Financial Analysts Journal, 40 (6), pp. 41-48.
• Chung, K. L. (1982), Lectures from Markov Processes to Brownian Motion, Springer.
• Coen, C. A., Maritan, C. A. (2011), Investing in Capabilities: The Dynamics of Resource Allocation, Organization Science, 22 (1), pp. 99-117.
• Coplestone, F. (1994), History of Philosophy, Vol. 7, Image Books.
• Davis, J., Eisenhardt, K., Bingham, C. (2007), Developing theory through simulation methods, Academy of Management Review, 32 (2), pp. 480-499.
• Davis, J., Eisenhardt, K., Bingham, C. (2007), Optimal Structure, Market Dynamism, and the Strategy of Simple Rules, Administrative Science Quarterly, 54 (2), pp. 413-452.
• Diecrickx, I., Cool, K. (1989), Asset stock accumulation and sustainability of competitive advantage, Management Science, 35 (12), pp. 1504-1511.
• DiMaggio, P. J., Powell, W. W. (1983), The iron cage revisited: Institutional isomorphisms and collective rationality in organizational fields, American Sociological Review, 48, pp. 147-160.
• Giancola, F. L. (2011), Examining the job itself as a source of employee motivation, Compensation & Benefits Review, 43 (1), pp. 23-29.
• Gilbert, N. (2008), Agent Based Models (Quantitative Applications in the Social Sciences), SAGE Publications.
• Gosavi, A. (2010), Simulation-Based Optimization: Parametric Optimization Techniques and Reinforcement Learning, Kluwer Academic Publications.
• Gottschalg, O., Zollo, M. (2007), Interest Alignment and Competitive Advantage, Academy of Management Review, 32 (2), pp. 418-437.
• Harrison, J. et al. (2007), Simulation modeling in organizational and management research, Academy of Management Review, 32 (4), pp. 1229-45.
• Haykin, S. (2009), Neural Networks and Learning Machines, Pearson-Prentice Hall.
• Hekman, D. R., Bigley G. A., Steensma, H. K., Hereford, J. F. (2009), Combined effects of organizational and professional identification on the reciprocity dynamic for professional employees, Academy of Management Journal, 52 (3), pp. 506-526.
• Heyman, D. P., Sobel, M. J. (2003), Stochastic Models in Operations Research, Dover Publications.
• Hurrion, R. D. (1993), Representing and Learning Distributions with the Aid of a Neural Network, The Journal of the Operational Research Society, 44, 1013-1023.
• Jensen, M. (2000), Value Maximization, Stakeholder Theory and the Corporate Objective Function, in M. Beer and N. Nohria (eds.), Breaking the Code of Change, Boston, Harvard Business School Press; Also in Journal of Corporate Finance, Fall 2001.
• Kahneman, D., Tversky, A. (eds.) (2000), Choices, Values and Frames, Cambridge University Press.
• Klein, S. (1996), Learning: Principles and Applications, McGraw-Hill.
• Kuipers, B. (1994), Qualitative Reasoning. Modeling and Simulation with Incomplete Knowledge, MIT Press.
• Lindenberg, S. (2001), Intrinsic Motivation in a New Light, Kyklos, 54 (2/3), pp. 317-342.
• March, J. G. (1991), Exploration and Exploitation in Organizational Learning, Organization Science, 2 (1), pp. 71-87.
• Meadows, D. H. (2008), Thinking in Systems: A Primer, Chelsea Green Publishing.
• Miller, J. H., Page, S. E. (2007), Complex Adaptive Systems: An Introduction to Computational Models of Social Life, Princeton University Press.
• Pearl, J. (1988), Probabilistic reasoning in intelligent systems: Networks of plausible inference, Morgan Kauffman.
• Perez Lopez, J. A. (1993), Fundamentos de la dirección de empresas, Madrid, Rialp.
• Riverola, J., Cuadrado, B. (2008), Arte y oficio de la simulación, EUNSA.
• Rosanas, J. (2008), Beyond Economic Criteria: A Humanistic Approach to Organizational Survival, Journal of Business Ethics, DOI 10.1007/s10551-006-9341-9ld.
• Rubinstein, A. (1997), Modeling Bounded Rationality, Boston, Mass., MIT Press.
• Ryan, R. M., Deci, E. L. (2000), Intrinsic and Extrinsic Motivations: Classic Definitions and New Directions, Contemporary Educational Psychology, 25, pp. 54-67.
• Saleh, S., Hyde, J. (1969), Intrinsic vs. Extrinsic Orientation and Job Satisfaction, Occupational Psychology, 43, pp. 47-53.
• Senge, P. (2000), The Puzzles and Paradoxes of How Living Companies Create Wealth, in M. Beer and N. Nohria, (eds.), Breaking the Code of Change, Harvard Business School Press.
• Shuck, B., Wollard, K. (2010), Employee engagement and HRD: A seminal review of the foundations, Human Resource Development Review, 9 (1), pp. 89-110.
• Simon, H. (1955), A Behavioral Model of Rational Choice, Quarterly Journal of Economics, 69 (1), pp. 99-118.
• Simon, H. A. (1983), Reason in Human Affairs, Stanford University Press.
• Simon, H. A. (1997), Administrative Behavior, Fourth edition, New York, The Free Press.
• Taylor, H. M., Karlin, S. (1998), An Introduction to Stochastic Modeling, Third Edition, Academic Press.
• Teece, D., Pisano, G., Shuen, A. (1990), Firm capabilities, resources and the concept of corporate strategy, Consortium on Competitiveness and Cooperation WP