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Market process management
Author(s) -
Parker David
Publication year - 1998
Publication title -
strategic change
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.527
H-Index - 16
eISSN - 1099-1697
pISSN - 1086-1718
DOI - 10.1002/(sici)1099-1697(199806/07)7:4<237::aid-jsc374>3.0.co;2-s
Subject(s) - corporation , competitive advantage , process (computing) , control (management) , business , marketing , production (economics) , industrial organization , economics , computer science , management , microeconomics , finance , operating system
For organizations information is becoming a critical factor of production. It is often said that competitive advantage now lies with those organizations that are able to acquire, assimilate and act upon information quickly and efficiently. Competitive advantage is said to lie with the ‘learning organization’. This study considers how an attention to market principles can help improve the ability of organizations to handle information and learn. Market process management requires removing the command and control systems of the old‐style Taylorist corporation, in favour of devolved decision making with an increased reliance on internal markets. This approach requires an attention to pricing in terms of internal opportunity costs and recasts the role of management as facilitators and regulators. © 1998 John Wiley & Sons, Ltd.