Managerial-finance

This is another consultant's attempt at what I learned in my business practice. The book does not rise above the obvious, but is, for the most part, a survey of ideas. The best practices discussed have little depth or meat to them. If you are an executive with planning experience or have read other books on the subject, the read adds very little.

An entertaining, insightful book - I found it useful in describing how benchmarking can be used to good effect in practise - in real situations - from someone who has definitely been there and done it. Our organization can certainly use the advice here - big time - and save ourselves a bunch of consultancy fees into the bargain!

Axson's book offers a practical and easy to read review of best practices in one of the most maligned areas of management. Combining useful benchmark data and implementation guidance this book provides a useful companion for anyone attempting to navigate through a tough change process

We start with the simple conception that an organizational decision is the execution of a choice made in terms of objectives from among a set of alternatives on the basis of available information. This leads to the examination of how orgnizational objectives are formed, how strategies are evolved, and how decisions are reached within those strategies." (Pg 19)

Major subtheories for a behavioral theory of the firm: theories of organizational goals, org expectations, org choice and org. control.

Conception of organization: "It is a coalition of individuals, some of them organized into subcoalitions."... " any theory of organizational goals must deal succesfully with the obvious potential for internal goal conflict inherent in a colalition of diverse individuals and groups" (Pg 27)

The goal formation process for a coalition:
1.- bargaining process by which the composition and general terms of the coalition are fixed
2.- the internal organizational proceses of control by which objectives are stabilized and elaborated
3.- the proecess of adjustement to esperience by which coalition agreements are altered in responseto environmental changes.

" We have argued that the goals of a business firm are a series of more or less independent constraints imposed on the organization through a process of bargaining among potential coalition members and elaborated over time in response to short time pressures. Goals arise in such a form because the firm is, in fact, a coalition of participants with disparate demands, changing foci of attention, and limited ability to attend to all organization problems simultaneously" (pg 43)