Exit, Voice, and Loyalty

Exit, Voice, and Loyalty  (English, Paperback, Hirschman Albert O.)

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    Highlights
    • Language: English
    • Binding: Paperback
    • Publisher: Harvard University Press
    • Genre: Business & Economics
    • ISBN: 9780674276604, 9780674276604
    • Pages: 176
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  • Description
    An innovator in contemporary thought on economic and political development looks here at decline rather than growth. Albert O. Hirschman makes a basic distinction between alternative ways of reacting to deterioration in business firms and, in general, to dissatisfaction with organizations: one, "exit," is for the member to quit the organization or for the customer to switch to the competing product, and the other, "voice," is for members or customers to agitate and exert influence for change "from within." The efficiency of the competitive mechanism, with its total reliance on exit, is questioned for certain important situations. As exit often undercuts voice while being unable to counteract decline, loyalty is seen in the function of retarding exit and of permitting voice to play its proper role. The interplay of the three concepts turns out to illuminate a wide range of economic, social, and political phenomena. As the author states in the preface, "having found my own unifying way of looking at issues as diverse as competition and the two-party system, divorce and the American character, black power and the failure of 'unhappy' top officials to resign over Vietnam, I decided to let myself go a little."
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    Book Details
    Imprint
    • Harvard University Press
    Dimensions
    Width
    • 13 mm
    Height
    • 210 mm
    Length
    • 140 mm
    Weight
    • 181 gr
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    A must Read for entrepreneurs & researcher

    This book came to me through a referral during a period when i was planning shut down my new start up. The author Hirschman provides a very deep insight of systems with very critical & logical arguments, which is again supported by examples. I loved reading this book. It made me change my mind about my start up & I decided to continue. Both EXIT & Voice are the sign of deterioration of system but the first one ensures decay, whereas the other one makes an effort to improve the situation.

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    Bibhu Kalyan Nayak

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    Jan, 2013

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