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Social dominance theory (SDT) is a social psychological theory of intergroup relations that examines the caste-like features [1] of group-based social hierarchies, and how these hierarchies remain stable and perpetuate themselves. [2]
Market dominance is the control of a economic market by a firm. [1] A dominant firm possesses the power to affect competition [2] and influence market price. [3] A firms' dominance is a measure of the power of a brand, product, service, or firm, relative to competitive offerings, whereby a dominant firm can behave independent of their competitors or consumers, [4] and without concern for ...
rational-legal authority (modern law and state, bureaucracy). These three types are ideal types and rarely appear in their pure form. According to Weber, authority (as distinct from power (German: Macht)) is power accepted as legitimate by those subjected to it. The three forms of authority are said to appear in a "hierarchical development order".
Friedman introduced the theory in a 1970 essay for The New York Times titled "A Friedman Doctrine: The Social Responsibility of Business is to Increase Its Profits". [2] In it, he argued that a company has no social responsibility to the public or society; its only responsibility is to its shareholders. [2]
Market power within competition law can be used to determine whether or not a firm has unfairly manipulated the market in their favour, or to the detriment of entrants. The Sherman Antitrust Act of 1890 under section 2 restricts firms from engaging in anticompetitive conduct by utilising an individual firm's power to manipulate the market or ...
Corporatocracy [a] or corpocracy is an economic, political and judicial system controlled or influenced by business corporations or corporate interests. [ 1 ] The concept has been used in explanations of bank bailouts , excessive pay for CEOs , and the exploitation of national treasuries, people, and natural resources . [ 2 ]
The iron law of oligarchy is a political theory first developed by the German-born Italian sociologist Robert Michels in his 1911 book Political Parties. [1] It asserts that rule by an elite, or oligarchy, is inevitable as an "iron law" within any democratic organization as part of the "tactical and technical necessities" of the organization. [1]
Alfred D. Chandler, Jr. - management, Pulitzer prize for The Visible Hand: The Managerial Revolution in American Business (1977) Clayton M. Christensen; Alexander Hamilton Church - industrial management (1900s–1910s) C. West Churchman; Stewart Clegg; Ronald Coase - transaction costs, Coase theorem, theory of the firm (1950s) (Nobel Prize in 1991)
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