Course Overview & Objectives
Findings from complexity science, a growing inter-disciplinary area, indicate that global business dynamics are among the most complex phenomena. Yet the capacity to anticipate changing realities is a must for the management professional. Our profession, perhaps more than any other profession ever, is also charged with the onus to conceptualise and bring forth new realities. The elective’s central quest is to facilitate richer intuitions into the non-linear logic of global dynamics, including the ongoing phenomenon of globalization, with the economic institutions, especially the firm, at the core. Global business dynamics, the course suggests, may be seen as the essence of global dynamics itself; especially since the onset of the industrial revolution. The elective also seeks to deepen the enquiry into the firm, while bringing the other major economic institutions into the framework, viz., goods & services markets, financial markets, nation-states, and international organizations. The enquiry is multi-disciplinary, offering the participants an opportunity to integrate the functional areas towards a more holistic understanding of the evolving realities. The other objectives of the elective are: 1. To examine the complex dynamics of the principal economic institutions, viz., firms & markets. 2. To examine the systemic forces which influence the drive towards globalisation. 3. To explore the rise and decline of nations, and civilizations. 4. To reckon the newer challenges and prospects for the management profession, as also for the individual professional, given the logic of global business dynamics. 5. To facilitate prettier dreams for tomorrow.
Course Modules
1. Introduction. Basic ideas on chaos, complexity, and complex dynamics; the importance of domain insights, pattern cognition, and logic. The principal institutions in a market economy, with firms at the core. A working definition of globalization, beyond champions and dissidents; focus on the systemic/institutional/design issues. Certain preliminary patterns.
Texts & Periodicals There is no one comprehensive text for the course. The following three, taken together, would be representative: 1. Penrose, Edith (1995) The Theory of the Growth of the Firm Oxford University Press 2. Beinhocker, Eric (2006) The Origin of Wealth: Evolution, Complexity, and the Radical Remaking of Economics Harvard Business School Press 3. Brakman, Steven et al (2006) Nations & Firms in the Global Economy Cambridge University Press Background material would be provided for each session. Some other useful books for the course – a combine of contemporary and classic – would be: Anderson, Per W., K. Arrow, and D. Pines, (Eds.) (1988) The Economy as an Evolving Complex System I. SFI Studies in the Sciences of Complexity, Addison Wesley Arthur, Brian, S. N. Durlauf, and D. A. Lane, (Eds.) (1997) The Economy as an Evolving Complex System II. SFI Studies in the Science of Complexity, Addison Wesley Blume, L.E and S. N. Durlauf (Eds.) (2006) The Economy as an Evolving Complex System III. SFI Studies in the Sciences of Complexity, Oxford University Press Canterbery, Ray E. (2001) A Brief History of Economics World Scientific Chandler, Alfred (1977) The Visible Hand Harvard Univ Press Chernow, Ron (1990) The House of Morgan Atlantic Monthly Press Coates, David (2000) Models of Capitalism: Growth and Stagnation in the Modern Era Polity Press Colander, David (2000) The Complexity Vision: The Teaching of Economics Cheltenham: Elgar Crafts, Nicholas & G. Toniolo (1996) Economic Growth in Europe Since 1945 Camb Univ Press Dine, Janet (2000) Governance of Corporate Groups Camb Univ Press Drucker, Peter (1989) New Realities Butterworth Heinemann Drucker, Peter (1993) The Concept of the Corporation Transaction Publishers Drucker, Peter (2002) Management Challenges for the 21st Century Butterworth Heinemann Drucker, Peter (2003) Managing in the Next Society Butterworth Heinemann Ferguson, Niall (2008) Empire Penguin Group (Australia) Ferguson, Niall (2009) The Ascent of Money Penguin Friedman, Thomas (2000) The Lexus and the Olive Tree Random House Friedman, Thomas (2005) The World is Flat Penguin Fukuyama, Francis (1992) The End of History Penguin Geisst, Charles (1997) Wall Street: A History OUP Gell-Mann, Murray (1994) The Quark & the Jaguar: Adventures in the Simple & Complex Abacus Greider, William (1998) One World Ready or Not Simon & Schuster Haywood, John (2001) The Cassell Atlas of World History Cassell Hobsbawm, Eric (1989) Age of Capital: 1848 – 1875 Vintage Hobsbawm, Eric (1996) Age of Empire: 1875 – 1914 Vintage Jones, Geoffrey (1996) Evolution of International Business Routledge Jones, Geoffrey (2000) Merchants to Multinationals OUP Kennedy, Paul (1987) Rise and Fall of the Great Powers Random House Keylor, William (2001) The Twentieth Century World: An International History OUP Korten, David (2001) When Corporations Rule the World Kumarian Press Maddison, Angus (2001) The World Economy: A Millennial Perspective OECD Marx, Karl (1992) Das Capital Penguin Classics Moore, Barrington, Jr. (1993) Social Origins of Dictatorship & Democracy Beacon Press Myrdal, Gunnar (1968) Asian Drama Pantheon Perkins, John (2006) The Confessions of an Economic Hit Man Plume Polanyi, Karl (1971) The Great Transformation Beacon Press Pomeranz, Kenneth (2001) The Great Divergence Princeton Univ Press Robins, Nick (2006) The Corporation that Changed the World Orient Longman Schumpeter, Joseph (1950) Capitalism, Socialism and Democracy Harper Brothers Shiller, Robert (2001) Irrational Exuberance Broadway Shutt, Harry (1998) The Trouble with Capitalism Zed Books Smith, Adam (2003) The Wealth of Nations Bantam Classics Soros, George (2004) Crisis of Global Capitalism Viva Books Soros, George (2004) George Soros on Globalization Viva Books Sri Aurobindo (1999) The Ideal of Human Unity Sri Aurobindo Ashram Pub Dept. Stiglitz, Joseph (2006) Making Globalization Work Penguin Tedlow, Richard (1990) New & Improved. The Story of Mass Marketing in America Basic Books The Economist, the London weekly, which conservatively calls itself a newspaper, would be of special interest for the course. Both the assignments are based on The Economist. It is perhaps the oldest chronicler, so to say, of global business dynamics and global dynamics in general, with an uninterrupted record of more than 160 years. It is also, arguably, the most influential periodical in the world, both, amongst practitioners and the academia. The course, however, would discourage uncritical acceptance of any view, irrespective of the source. Other business/economic publications would also be useful for news and views, viz., Financial Times, Wall Street Journal, Business Week, New York Times, Asia Times (Online), etc. For a position significantly away from The Economist, towards a richer balance, one may consider the much awarded website, www.globalresearch.ca Created By: Alora Kar on 03/03/2014 at 12:05 PM Category: BM-II Doctype: Document