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| | Planning and Markets: E.R. Alexander: Printer Friendly Version |
 | | Planning, therefore, is part of the response to high market transaction costs, and is a property of nonmarket forms of organization. |
 | | Defining planning is really quite complex: the term can be understood in its broadest sense to range from evolutionary biological adaptation through individual to social activities (Alexander, 1992.a: 69-74), and has social and practical connotations (e.g who are recognized as professional or expert planners) that vary across cultures (Alexander, 2000). |
 | | Indeed, in one view the firm exists to plan: the critical incentive for the evolution of firms is the need to respond efficiently to the market's signals, requiring "decision making (that is) coordinated ex-ante in firms" (Hermalin, 1999: 104); ex-ante coordination, of course, is planning (March and Simon, 1958: 158-169). |
| www-pam.usc.edu /volume4/v4i1a2print.html (8094 words) |
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