This paper offers an integrated analysis of out-sourcing, off-shoring and foreign direct investme... more This paper offers an integrated analysis of out-sourcing, off-shoring and foreign direct investment within a systems view of international business. This view takes the supply chain rather than the firm as the basic unit of analysis. It argues that competition in the global economy selects supply chains that maximise the joint profit of all the firms in the chain. The systems view is compared with the firm-centred view commonly used in strategy literature. The paper shows that a firm's strategy must be embedded within an efficient supply chain strategy, and that this strategy must be negotiated with, rather than imposed upon, other firms. The paper analyses the conditions under which various supply chain strategies -and by implication various firm-level strategies -are efficient. Only by adopting a systems view of supply chains is it possible to determine which firm-level strategies will succeed in a volatile global economy.
Idea of pursuing competitiveness while promoting the common good began as early as the medieval p... more Idea of pursuing competitiveness while promoting the common good began as early as the medieval period, write Catherine Casson, Mark Casson, John Lee, and Katie Phillips
Entrepreneurs often owe their success to other people, they are not just’ self-made’. Social cont... more Entrepreneurs often owe their success to other people, they are not just’ self-made’. Social contacts provide the entrepreneur with information, workers and a market for their product. This chapter explores how entrepreneurs acquire and enhance social contacts. It shows that the entrepreneur’s customers often have a clear perception of what ‘debt’ the entrepreneur owes to society in general. The chapter concludes with a restatement of the new research agenda that the book has outlined, emphasising the interdisciplinary perspective that the book has provided.
Chapter 6 examines Cambridge’s performance at a regional and national level. Cambridge’s position... more Chapter 6 examines Cambridge’s performance at a regional and national level. Cambridge’s position relative to other leading towns nearby, such as Ely, Bury St Edmunds, King’s Lynn, Huntingdon and St Ives, is examined. The competitiveness of its market is evaluated through assessment of its transport connections and the local charters for market and fairs in the Cambridge area. Once again new information is brought to bear on the subject; in this case the account rolls of the Merton manor in Cambridge, previously owned by the Dunning family and subsequently acquired by Walter de Merton for the endowment of Merton College, Oxford. The chapter demonstrates the dominance of Cambridge market in the local economy. The strength of this market, combined with the town’s control of the export-oriented river trade, assured its leading position in local trade and contributed to attracting investors from the local region and beyond.
This chapter considers what factors contributed to the survival and success of the leading famili... more This chapter considers what factors contributed to the survival and success of the leading families, and to the decline of others. It identifies the crucial role of entrepreneurs in founding and sustaining the fortunes of leading families. A key finding of the chapter is the distinction between old aristocratic wealth and new mercantile wealth. Some older families fell into debt and lost their property portfolios. Others redistributed income within the family or undertook strategic marriages, and thus obtained a new lease of life.
This paper offers an integrated analysis of out-sourcing, off-shoring and foreign direct investme... more This paper offers an integrated analysis of out-sourcing, off-shoring and foreign direct investment within a systems view of international business. This view takes the supply chain rather than the firm as the basic unit of analysis. It argues that competition in the global economy selects supply chains that maximise the joint profit of all the firms in the chain. The systems view is compared with the firm-centred view commonly used in strategy literature. The paper shows that a firm's strategy must be embedded within an efficient supply chain strategy, and that this strategy must be negotiated with, rather than imposed upon, other firms. The paper analyses the conditions under which various supply chain strategies -and by implication various firm-level strategies -are efficient. Only by adopting a systems view of supply chains is it possible to determine which firm-level strategies will succeed in a volatile global economy.
Idea of pursuing competitiveness while promoting the common good began as early as the medieval p... more Idea of pursuing competitiveness while promoting the common good began as early as the medieval period, write Catherine Casson, Mark Casson, John Lee, and Katie Phillips
Entrepreneurs often owe their success to other people, they are not just’ self-made’. Social cont... more Entrepreneurs often owe their success to other people, they are not just’ self-made’. Social contacts provide the entrepreneur with information, workers and a market for their product. This chapter explores how entrepreneurs acquire and enhance social contacts. It shows that the entrepreneur’s customers often have a clear perception of what ‘debt’ the entrepreneur owes to society in general. The chapter concludes with a restatement of the new research agenda that the book has outlined, emphasising the interdisciplinary perspective that the book has provided.
Chapter 6 examines Cambridge’s performance at a regional and national level. Cambridge’s position... more Chapter 6 examines Cambridge’s performance at a regional and national level. Cambridge’s position relative to other leading towns nearby, such as Ely, Bury St Edmunds, King’s Lynn, Huntingdon and St Ives, is examined. The competitiveness of its market is evaluated through assessment of its transport connections and the local charters for market and fairs in the Cambridge area. Once again new information is brought to bear on the subject; in this case the account rolls of the Merton manor in Cambridge, previously owned by the Dunning family and subsequently acquired by Walter de Merton for the endowment of Merton College, Oxford. The chapter demonstrates the dominance of Cambridge market in the local economy. The strength of this market, combined with the town’s control of the export-oriented river trade, assured its leading position in local trade and contributed to attracting investors from the local region and beyond.
This chapter considers what factors contributed to the survival and success of the leading famili... more This chapter considers what factors contributed to the survival and success of the leading families, and to the decline of others. It identifies the crucial role of entrepreneurs in founding and sustaining the fortunes of leading families. A key finding of the chapter is the distinction between old aristocratic wealth and new mercantile wealth. Some older families fell into debt and lost their property portfolios. Others redistributed income within the family or undertook strategic marriages, and thus obtained a new lease of life.
Contemporary businesses are frequently challenged to invest the profits from their commercial suc... more Contemporary businesses are frequently challenged to invest the profits from their commercial successes into projects that benefit society. Yet this is not a new concept – this column reports that it began as early as the medieval period. Profits from property speculation in the Middle Ages were re-invested into local communities. Compassionate capitalism involved high levels of charitable giving to hospitals, monasteries, churches, and colleges, which helped to disseminate the economic benefits of investments from individuals to the wider community.
Contemporary businesses are frequently challenged to invest the profits from their commercial suc... more Contemporary businesses are frequently challenged to invest the profits from their commercial successes into projects that benefit society. Yet the idea that the pursuit of international competitiveness should also promote the common good is not a new one. It began as early as the medieval period!
Using recently discovered documents on medieval Cambridge we have investigated how money was made through property speculation and how the profits of successful speculation were spent. Our analysis is based on over one thousand properties recorded in the so-called ‘Second Domesday’ – the Hundred Rolls of 1279.
Profits from property speculation benefitted individuals, family dynasties and the urban community as a whole. Compassionate capitalism involved high levels of charitable giving to hospitals, monasteries, churches and colleges which helped disseminate the economic benefits of the ‘winners’ of the commercial revolution.
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Papers by mark casson
http://voxeu.org/article/compassionate-capitalism-middle-ages
Using recently discovered documents on medieval Cambridge we have investigated how money was made through property speculation and how the profits of successful speculation were spent. Our analysis is based on over one thousand properties recorded in the so-called ‘Second Domesday’ – the Hundred Rolls of 1279.
Profits from property speculation benefitted individuals, family dynasties and the urban community as a whole. Compassionate capitalism involved high levels of charitable giving to hospitals, monasteries, churches and colleges which helped disseminate the economic benefits of the ‘winners’ of the commercial revolution.
http://blogs.lse.ac.uk/businessreview/2017/06/05/compassionate-capitalism-lessons-from-medieval-cambridge/