Team theory
The team theory is an economic theory of teams and organizations . She regards companies or organizations as a group of people whose actions are based on certain decision-making rules or behavioral norms. The term was coined by Jacob Marschak in 1955.
The people pursue common interests as a team and behave in a risk-neutral manner towards various alternative courses of action. Not all of the information is available to every team member. Rather, information is distributed decentrally across the organization and can be obtained. The procurement of decentralized information implies communication and thus also communication costs. This leads to a tension between the costs of obtaining information and suboptimal decisions:
- The less information a decision maker has or gets, the higher the probability of a suboptimal decision
- the more information a decision maker obtains, the higher the communication costs.
The goal is to choose the optimal combination of information structure and decision-making rules for the team result.
Each company can be viewed as a team, since the various corporate functions such as procurement , production or sales pursue the common corporate goal of profit maximization. Furthermore, each member determines different decision variables, with which everyone masters part of the whole problem. Marketing takes care of advertising strategies and the production department takes care of raw materials and production quantities.
See also
literature
- Marschak, J. and Radner, R. (1972): Economic theory of teams, New Haven: Yale Univ. Pr.
Web links
- Team theory of the company - definition from the Gabler Wirtschaftslexikon
Individual evidence
- ↑ team theory. (No longer available online.) Classic.unister.de, archived from the original on August 17, 2009 ; Retrieved September 5, 2010 . Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
