Examining the evolution of commerce, trade patterns, and market structures from ancient civilizations through modern global business ecosystems.
Examining the evolution of commerce, trade patterns, and market structures from ancient civilizations through modern global business ecosystems.
Dive into the fascinating journey of how businesses and markets have evolved over time with this comprehensive course from IIMBx. Discover the role of networks, institutions, culture, and technology in shaping the business landscape. From medieval merchant guilds to modern multinational corporations, you'll explore the historical emergence of impersonal markets and their impact on traditional business systems. This course offers a unique perspective on economic development, focusing on overcoming information asymmetry and moral hazards, and includes a special case study on India's economic evolution.
Instructors:
English
English
What you'll learn
Understand the role of dense relationship networks in traditional business structures
Trace the formalization of business from craft guilds to modern formal markets
Analyze how social structures influence market growth and development
Gain a historical perspective on market evolution and its driving forces
Evaluate the impact of institutions, culture, and technology on business development
Explore the evolution of firms from individual merchants to multinational corporations
Skills you'll gain
This course includes:
PreRecorded video
Graded assignments, exams
Access on Mobile, Tablet, Desktop
Limited Access access
Shareable certificate
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There are 7 modules in this course
This course offers a comprehensive exploration of the historical evolution of businesses and markets. It covers a wide range of topics, from the persistence of merchant guilds in medieval Europe to the emergence of modern impersonal markets. The curriculum is structured around six themes, each focusing on different aspects of business and market evolution. Students will learn about the role of networks and hierarchies in shaping traditional and modern businesses, the historical progression from individual merchants to multinational corporations, and the impact of formal institutions, trust, and culture on business development. The course also examines how businesses have overcome challenges like information asymmetry and moral hazards. Special attention is given to the influence of communication, transport, and mass-media technologies on market evolution. The course concludes with a focused study on India's economic development, providing a practical case study to reinforce the concepts learned.
Welcome to the Course
Module 1 · 3 Hours to complete
Evolution of Business
Module 2 · 3 Hours to complete
Transformation of Business
Module 3 · 3 Hours to complete
Evolution of Markets
Module 4 · 3 Hours to complete
Democratized Markets
Module 5 · 3 Hours to complete
Forces of Evolution
Module 6 · 3 Hours to complete
India as a Case
Module 7 · 3 Hours to complete
Fee Structure
Instructor
Distinguished Economic Historian and Strategy Scholar
Prateek Raj serves as Assistant Professor of Strategy at IIM Bangalore, where he leads the Inclusive Markets Lab studying the evolution of free and inclusive markets. After earning his BTech from IIT Delhi and PhD in Management from University College London, he has established himself as a leading voice in institutional economics and market evolution. His career includes roles as Research Associate at University of Chicago's Stigler Center, Visiting Pre-Doctoral Fellow at Northwestern's Kellogg School of Management, and operations consultant in the metals and mining industry. Through his research on historical evolution of institutions like caste and guilds, and the role of information technology in developing impersonal markets, he continues to influence understanding of market development. His contributions include developing MOOCs on business and market evolution, teaching Strategic Stewardship at IIMB, and co-founding initiatives like Project Chhaav, which provided healthcare support during the COVID-19 pandemic. As coordinator of IIMB's strategy PhD program and co-chair of the India Strategy Conference, he advances scholarship while promoting inclusive market development.
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