Nicolai Foss - Böcker

The 'theory of the firm' is a significant part of modern economics. Because it informs strategic choices, it is highly relevant to business administration in general, and for strategic management in particular. Two dominant streams may be identified in the literature, namely the 'competence' and 'governance' perspectives on the firm. While there has been little direct discussion between the main proponents of these perspectives, both claim that they are reaching for a 'strategic theory of the firm'. Such a theory would not only shed light on the classical questions considered in the theory of the firm (e.g. why firms exist, what determines their boundaries and internal organization), but would also be helpful for informing strategy issues, such as understanding strategic flexibility, strategic options, and the sources of competitive advantage. This volume brings together prominent voices on competence, governance, and entrepreneurship to advance and stimulate economic strategy research. By pooling and mobilizing intellectual resources of both competence and governance perspectives, the contributions show that an innovative joint venture between these two main perspectives potentially leads to a new avenue of future research on strategic issues such as 'corporate growth', 'interfirm cooperation', and 'corporate entrepreneurship'.

The 'theory of the firm' is a significant part of modern economics. Because it informs strategic choices, it is also highly relevant to business administration in particular. Two dominant streams may be identified in the literature, namely the 'competence' and 'governance' perspectives on the firm. While there has been little direct discussion between the main proponents of these perspectives, both claim that they are reaching for a strategic theory of the firm. Such a theory would not only shed light on the classical questions considered in the theory of the firm (e.g. why firms exist, what determines their boundaries and internal organization), but would also be helpful for informing strategy issues, such as understanding strategic flexibility, strategic options, and the sources of competitive advantage.This volume brings together leading thinkers on competence, governance, and entrepreneurship to advance and stimulate economic strategy research. By pooling and mobilizing intellectual resources of both competence and governance perspectives, the contributions show that an innovative joint venture between these two main perspectives potentially leads to a new avenue of future research on strategic issues such as corporate growth, interfirm cooperation, and corporate entrepreneurship.

This book explores a new theory of the firm produced through an exchange between management theory and economics. In the process economics is seen to provide a foundational element for strategy research whilst developing a more realistic theory of the firm with a greater emphasis on its internal features. The success of competence theories of the firm also reflects their ability to explain significant trends in the business world, notably the declining importance of conglomerates and critical features in the success of Asian and Japanese business.

The work of G.B. Richardson has given insights into key issues and debates such as markets versus hierarchies, price stability, the economics of information and the concept of competition based upon differentiated firms.This collection encourages further development of Richardson's themes. It will make excellent reading for students looking at the capability or competence approach to the firm, and for all those wishing to familiarise themselves with the work of this important economist.

Firms have for a long time been part of the explanatory set-up of economics. However, it is only recently that economists have felt the need for an economic theory addressing:* why firms are different* why firms exist* what determines their boundaries relative to 'the market'* what determines their internal organization.This collection documents the rise of the modern theory of the firm during the last two to three decades. It reprints classic writings from a diversity of perspectives, including not only contractual theories of the firm, but also knowledge-based theories and theories of the firm as an information processor. In addition, the collection features perspectives from business strategy and business history as well as methodological and doctrinal historical perspectives.

This book explores a new theory of the firm produced through an exchange between management theory and economics. In the process economics is seen to provide a foundational element for strategy research whilst developing a more realistic theory of the firm with a greater emphasis on its internal features. The success of competence theories of the firm also reflects their ability to explain significant trends in the business world, notably the declining importance of conglomerates and critical features in the success of Asian and Japanese business.