New Features:

• Managerial decision problems: Real-world scenario boxes enable students to immediately apply what they have learned as they employ economic analysis to make the best managerial decisions in a given, realistic situation.
• Self-Evaluation Problems with Solutions: New Self-Evaluation problems at the end of the chapter focus on the standard types of economic issues that students will face in relation to the chapter topics. The accompanying solutions provide both the opportunity to check the answers and to see concrete examples of how these types of problems are solved.
• Updated boxed material in each chapter: Boxed examples, now divided into Managerial, Academic, and Historical Applications to highlight topic relevance, have been updated with new information. New boxes have also been added to keep the text current.
• Reorganization of Chapters: Two chapters--on Leadership and Innovation--as well as an Appendix on the choice of legal forms of organization have been moved online for a lighter, more streamlined volume.

Key Features:

• Comprehensive, cross-functional framework: The authors describe and integrate important research findings published across several functional areas, then demonstrate how to apply the framework to specific organizational problems.
• Topic integration of strategy and organizational architecture: Students learn how elements of the business environment (technology, competition, and regulation) drive the firm’s choice of strategy as well as the interaction of strategy choice an organizational architecture.
• Problems and exercises: Real organizational problems, both within the chapter and at chapters end, are drawn from the business press and consulting engagements. The authors have structured exercises that provide readers with a broad array of opportunities to apply the framework to problems like ones they encounter as managers.