Question
onsider the following ideas: Recall the economic problem of society defined by Hayek. Anderson and Huggins quote economist Alan Ryan (who quoted Richard Pipes) as
onsider the following ideas:
- Recall the economic problem of society defined by Hayek.
- Anderson and Huggins quote economist Alan Ryan (who quoted Richard Pipes) as arguing that "property [rights] comes into existence under the impulse of pressures towards efficiency through a process parallel to that of natural selection" (p. 11). The termefficiencyeffectively means the movement of scarce resources toward their highest valued use.(As an aside, related to the course project, the reference to natural selection is useful imagery for thinking about the process of creative destruction.)
- Blenko et al. (2010) argue, "An army's success depends at least as much on the quality of the decisions its officers and soldiers make and execute on the ground as it does on actual fighting power."
- According to the U.S. Army'sMission Commandmanual, "Throughout operations, unexpected opportunities and threats rapidly present themselves. Operations require responsibility and decision making at the point of action. Through mission command, commanders initiate and integrate all military functions and actions toward a common goalmission accomplishment."
Using the above ideas, in combination with (1) the imagery and content provided by the Army'sMission Commandmanual and (2) the arguments used in the twoHarvard Business Reviewreadings, craft an argument defending this statement:One of the crucial challenges of managing an organization is really the challenge of designing and enforcing meaningful property rights(recast as the idea of decision rights that motivate value-creating combinations of human capital in the context of dispersed and tacit knowledge).
Related readings:
https://hbswk.hbs.edu/item/decision-rights-who-gives-the-green-light
https://hbswk.hbs.edu/item/the-one-good-thing-caused-by-covid-19-innovation
http://web.b.ebscohost.com.www2.lib.ku.edu/ehost/detail/detail?vid=0&sid=3ea96305-c783-43d8-a348-2bcfef5d7624%40sessionmgr101&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d%3d#AN=50759986&db=bth
https://ebookcentral.proquest.com/lib/ku/detail.action?docID=3015467
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