Towards a Competence Theory of the Firm
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.
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A Historical View
3 The Organization of Industry
4 Competitive Advantage and the Concept of Core Competence
5 Competences Transaction Costs and Competitive Strategy
6 Strategic Implications of Business Process ReEngineering
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accumulation acquisition activities Alchian analysis approach argued Austrian economics Barney behaviour beneﬁts Benetton business processes capacity coherence competence perspective competence-based competitors concept coordination Copenhagen Business School core competences Corporate deﬁned deﬁnition difﬁcult dimension diversiﬁcation dynamics economists Edith Penrose efﬁciency endogenous growth equilibrium evolutionary economics example external factors of success ﬁeld ﬁnd Firm ﬁrm’s ﬁrst formal function identiﬁed imitation implies important individual ﬁrm industry inﬂuence innovative assets internal key factors knowledge learning managerial market cluster Marshall’s Nelson and Winter organization organizational capital Penrose Prahalad and Hamel problem production cluster proﬁtable proﬁts R8CD reﬂects rent resource-based perspective Resource-based View resources and competences Ricardian rent Richardson role Selznick Sidney Winter SIFs signiﬁcant signiﬁcantly skills social capital speciﬁc strategic assets Strategic Management journal strategy structure studies subsidiaries sustained competitive advantage synergy technological innovation technology base Teece three clusters transaction costs types University Press Wernerfelt